- Bmw E60 M5 Buyers Guide!
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Bmw E60 M5 Buyers Guide!
Hey guys,
Would love to get your feedback on this Enthusiast Buyers Guide! Its just the start and still needs a few things fixed, mainly spelling and grammar, but any important info I missed would be greatly appreciated!
http://www.schnelllist.com/buyers-gu...-bmw-e60-m5-bg
"Bmw decided to follow its roots and installed a monsterous V10 into the E60 M5. What roots did they follow, simple, their Formula 1 team. Ricky Bobby will most certainly finish last against Bmw’s ultimate sedan. Now how can you own a V10 Nascar ass-kicking sedan, easy, take out a loan, borrow from a friend, give blood or other things… but please buy one! With prices dropping faster than Chris Christy falling from a plane, you can now afford to own a 500hp V10 luxury boat for the price of a new Taurus, sounds tempting right?"
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I'm already seeing E60 M5's for sub-$20k in my area so not sure about the pricing in the guide. I fully expect in 5-10 years that these cars will on average sell less than E39 M5's, and only the well maintained E60 M5's will be worth more. The reason for this is because like all used cars, resale value becomes a function of the cost of maintenance. Maintaining an S85 is extremely expensive, so they will get neglected and sold cheap. Then bought cheap and neglected even more, and sold even cheaper. Backyard mechanics don't usually like to touch these cars, they don't even have an oil dipstick. Not sure where you got any of your market values TBH. High end for these cars based on short perusal at M5board seems to be about $40k - I found only two at this figure (later on both threads ended up asking about $36k and selling around $30-32k). Low mileage examples can be had easily under $35k, a far cry from the $60k quoted in your guide. Average sale price seems to be about $25-30k right now with average asking price about $28-35k. There is one on M5board with low miles still under warranty being sold for $28k. These are not "rust buckets" these are well maintained cars that have been treated generally as weekend cruisers and not abused or neglected.
I looked really hard and couldn't find any examples over $40k. Low mile, under warranty and well taken care of examples are in this price range. Not sure where you got the $60k figure. It is a very weak market for these cars, one that is getting weaker by the day. As they come out of warranty the values plummet. $25k can easily get one of these in decent running and aesthetic condition.
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