(Updated) Yet another request for someone to talk me down... (E39 M5 related)

[vshah]

paint it dark blue when you get it

when. not if!

 

[Zenmervolt]

Well, so far making calls isn't helping me.

The car is priced at $16,900. I should be able to get them to $15,000 or a bit under based on Edmunds TMV. If the car is as clean as it looks, the price is certainly fair.

According to my insurance agent, the premium increase is a bit less than $20/month.

Have you looked into maintenance for a 100K mile BMW? I'm curious what that will look like.

The Porsche shop I use for the 951 also works on BMWs. From my discussions with the mechanics there I should expect it to be roughly in the same league as my 951, which is to say more expensive than a Honda, but not outrageous as long as it's kept up with. If you get behind and let things go, catching back up on maintenance can suck a person's life savings, or at least his will to live.

ZV

 

[fbrdphreak]

The Porsche shop I use for the 951 also works on BMWs. From my discussions with the mechanics there I should expect it to be roughly in the same league as my 951, which is to say more expensive than a Honda, but not outrageous as long as it's kept up with. If you get behind and let things go, catching back up on maintenance can suck a person's life savings, or at least his will to live.

ZV

Hahahaha. Do you have an idea of what things one would look for on a car that age? I've always loved that series of Bimmers, the M5 in particular. But the age and maintenance costs scare me away from seriously considering one.

 

[PricklyPete]

S70, not V70. The Volvo's a sedan.

ZV

My bad...my eyes are giving out

 

[Zenmervolt]

Hahahaha. Do you have an idea of what things one would look for on a car that age? I've always loved that series of Bimmers, the M5 in particular. But the age and maintenance costs scare me away from seriously considering one.

In general, yes, but I don't know enough specific to the E39 to really be specific on this car like I could with the 951. That's why if I look at it and if I like it, I'll set up some time to take it over to my mechanic. The owner of the shop has managed racing teams for Bob Wollek, Jurgen Barth, Hurley Haywood, Derek Bell, Jeff Andretti, Lynn StJames, and Bobby Rahal among others. The guys are amazing. At $110/hour they're not cheap, but I've never had them recommend a repair that wasn't necessary and they have very often charged fewer hours on a repair than book rates.

In general though, it's important to remember that cars like the M5 are essentially "one-off" vehicles. The S62 engine in the E39 M5 is hand-assembled, for example. While basic maintenance isn't bad, cars like this tend to require things like 7+ quarts of synthetic oil at each oil change which means spending around $60/oil change instead of getting the $19.99 special at Jiffy Lube. Sensors and other electronics can be harder to find and more expensive from limited availability.

In general, I figure that any comprehensive shop visit (e.g. repairs, major services, etc) will run $1,000 minimum. Is it expensive? Well, it's no bargain basement. Is it cheaper than payments on a brand-new vehicle that's comparable to the older car? Hell yes.

ZV

 

[Q]

That is lot of miles for a German car, I'd be wary.

 

[Zenmervolt]

That is lot of miles for a German car, I'd be wary.

My 951 is closing in on 170,000 miles without major issues. Most well-maintained German cars will last almost indefinitely.

ZV

 

[BW86]

I got the chance to drive an e39 m5 and it blew my mind - I definitely need to get one in my lifetime.

GET IT!

 

[CurseTheSky]

A nearly 400 HP "people hauler" is pretty badass.

I guess it depends on your financial situation. If you can afford to accept this as a "dumb mistaken" if it gives you trouble 2-3 years down the road and buy something "more sensible," then I say go for it. If not, or if poor financial decisions haunt you for the rest of your life, keep the Volvo.

Besides, I heard these things get excellent smiles-per-gallon.

 

[Lotheron]

[...] While basic maintenance isn't bad, cars like this tend to require things like 7+ quarts of synthetic oil at each oil change which means spending around $60/oil change instead of getting the $19.99 special at Jiffy Lube. [...]

ZV

Hmm I do this now on my 07 Mazda 6.. NTB always has a coupon for $50 full synthetic plus an oil change. Yeha probably over kill.

Anyway as you said I think those are the best look BMWs there are, that and the e36/e46 3 series.

The only thing is that this deal could go very well for you, or it could go very sour depending on the requirements to keep the car running. Since I'm in the same boat of having to talk myself down from looking at cars since the 6 is paid off, I'm going to have to do the same to you. No car payments > *

 

[EightySix Four]

After a lot of thought, and getting over that initial "DO WANT!" I think it's actually best if you didn't ZV. Think of the other places the money could go, invest with it a bit, then buy a car if you get some good returns, get some fun things for the house, etc.

Not having car payments is nice, and it could open up the door for you to make the Porsche truly evil

 

[Doggiedog]

Not an option. Have a 951 and a motorcycle in addition to the Volvo. In order to keep things manageable, I've vowed that any new vehicle must replace an existing vehicle if they are similar in functionality. The M5 would have to replace the Volvo as my 4-door people-hauler.

ZV

Bad mantra. If you get the E39 M5, you'll need to get the E60 M5 or an E63 AMG for your next car!

 

[MotF Bane]

By request... BMW's seem to have a bit of a reputation for maintenance costs/troubles as they age, and this is a down economy for buying another car. Probably not a great idea for driving in the winter with that much power, and if it's already been driven in the winter, then it's going to rotting underneath. You admit to not liking the exterior color, and it already has a lot of miles. Probably going to lose fuel mileage, and what if you end up not liking it? Maybe it won't be comfortable, it doesn't handle quite like you expected, et cetera. How's that?

 

[Zenmervolt]

After a lot of thought, and getting over that initial "DO WANT!" I think it's actually best if you didn't ZV. Think of the other places the money could go, invest with it a bit, then buy a car if you get some good returns, get some fun things for the house, etc.

Not having car payments is nice, and it could open up the door for you to make the Porsche truly evil

Yes, but as a replacement for the Volvo, I could essentially buy it for "nothing", using the Volvo as down payment and then effectively continuing payments at about the same level as the Volvo.

The 951 is as evil as it's going to get. Any further with the car and it will adversely affect its ability to be used normally on the street and will start having an affect on reliability. The only two potentials on the modification horizon were a vague desire for a set of cams in the Harley (unlikely, turns out that there actually is such a thing as "fast enough") or re-flashing the ECU on the Volvo along with a new downpipe to bring it up to 285hp/290tq.

ZV

 

[Zenmervolt]

By request... BMW's seem to have a bit of a reputation for maintenance costs/troubles as they age, and this is a down economy for buying another car. Probably not a great idea for driving in the winter with that much power, and if it's already been driven in the winter, then it's going to rotting underneath. You admit to not liking the exterior color, and it already has a lot of miles. Probably going to lose fuel mileage, and what if you end up not liking it? Maybe it won't be comfortable, it doesn't handle quite like you expected, et cetera. How's that?

It's good. Unfortunately my reptilian brain is still coming up with responses...

I know maintenance issues from the 951 and friends with older bimmers, it's not an additional car, it's a replacement, we don't get much winter in Seattle and I work from home mostly, even if it has been used in the winter here, we don't use salt, so nothing ever rusts. I agree on the color, as far as miles, with the exception of the '06 Mustang this will actually have fewer miles than any other car I've bought (beating the Volvo by a couple hundred miles). I'll take a hit on mileage but not any worse than the other V8 cars I've had. If I don't like it, I'll find that out in the test drive and not buy it...

Stupid rationalization.

 

[vshah]

will you give free rides to AT members?

 

[JulesMaximus]

In general, yes, but I don't know enough specific to the E39 to really be specific on this car like I could with the 951. That's why if I look at it and if I like it, I'll set up some time to take it over to my mechanic. The owner of the shop has managed racing teams for Bob Wollek, Jurgen Barth, Hurley Haywood, Derek Bell, Jeff Andretti, Lynn StJames, and Bobby Rahal among others. The guys are amazing. At $110/hour they're not cheap, but I've never had them recommend a repair that wasn't necessary and they have very often charged fewer hours on a repair than book rates.

In general though, it's important to remember that cars like the M5 are essentially "one-off" vehicles. The S62 engine in the E39 M5 is hand-assembled, for example. While basic maintenance isn't bad, cars like this tend to require things like 7+ quarts of synthetic oil at each oil change which means spending around $60/oil change instead of getting the $19.99 special at Jiffy Lube. Sensors and other electronics can be harder to find and more expensive from limited availability.

In general, I figure that any comprehensive shop visit (e.g. repairs, major services, etc) will run $1,000 minimum. Is it expensive? Well, it's no bargain basement. Is it cheaper than payments on a brand-new vehicle that's comparable to the older car? Hell yes.

ZV

Interesting. I met Hurley Haywood at the Los Angeles Auto Show many years ago (mid 1990s). Got a nice signed photo of him with a Porsche he was racing at the time (they had the Porsche there too). Nice guy, very soft spoken and personable.

 

[Pantoot]

While basic maintenance isn't bad, cars like this tend to require things like 7+ quarts of synthetic oil at each oil change which means spending around $60/oil change instead of getting the $19.99 special at Jiffy Lube.
ZV

Mine is an E60, and I think I posted this once before, but 10 quarts of oil at $13 a quart makes for an expensive oil change. Happily BMW does it free for me for another couple of years.

Buy it.

Edit: Oh, and if you are counting on the test drive to talk you out of it...well...don't.

 

[Hellotalkie]

My dad had a 2000 m5; got rid of it around 55000 miles. Nice car but the maintenance costs were really high. Especially for a weekend car.

 

[DivideBYZero]

As an owner of a 2001MY M car I say go for it.

If you do go for it, talk to me regarding that old Mk3 Nav unit and the associated software. I'm also well versed in the Intravee II system to give that puppy fully integrated iPod functionality via the nav screen/wheel controls.

Also, just buy it. Now.

 

[Zenmervolt]

Well, I'm going to go out and have a look in person tomorrow. It seems that I stumbled upon it the same day they put it up on their site, so it's not on the lot right now but is being detailed and having the fluids changed. I know the dealer, same place I bought the Volvo and they have good service as well as cars that are in good shape.

This does not bode well for me.

ZV

 

[ponyo]

Ironically, I had the opportunity to purchase light blue E39 M5 late last year as well. http://picasaweb.google.com/Naustica/E39M5#5110241456889678802

It was my cousin 2002 M5 with around 65,000 miles. He offered it to me for $15k as thanks for helping with his Ferrari purchase. I debated before turning him down. I could've bought it and drove it for little while and flipped it for profit but I didn't want the hassle. Biggest issue for me was the garage space. Parking my 4 cars and motorcycle is a hassle. 5 cars would've been a pain. He ended up selling it about week later to one of his friends for $18k.

My cousin didn't have any major problems with his M5 while he had it. He told me it was one of the least problem cars he owned.

That light blue isn't bad in person. Color kind of grew on me and it changes depending on the light.

 

[rh71]

no gills, no sale!

 

[Zenmervolt]

Mine is an E60, and I think I posted this once before, but 10 quarts of oil at $13 a quart makes for an expensive oil change. Happily BMW does it free for me for another couple of years.

The S62 in the E39 M5 will do just fine on any quality motor oil that meets the ACEA A3 spec or better (this includes "everyday" synthetics such as Mobil Extended Performance 1 5w30). Apparently it was harder to find oils that met the ACEA A3 spec back in 2000/2001, which is why the manual cautions about using BMW's oil, but most of the common synthetics should be fine today.

Shit. I'm already looking up maintenance tips for the damn thing.

ZV

 

[Eli]

On an unrelated note, your Volvo has been reliable? :hmm:

My girlfriends mom had an S70. It gave her nothing but headaches, and she had to have the transmission replaced (under warranty) at 28,000 miles. She finally said to hell with it and traded it in for a Subaru Tribeca.

She didn't exactly beat on the car, either... I doubt it ever saw 4,000RPM.....