Just bought an E39 M5
Discussion
Just completed the deal today on the phone, should be picking it up this weekend.
Heres the story so far:
I’m an independent motor trader. I used to deal with some very high end cars, when I was a sales manager for main dealers, however been working for myself for just over a year, whilst everything else is good, I mainly trade with quite ordinary stuff, I don’t have a car that I keep just for me, I just drive whatever happens to have a tax disc in it, and really miss driving nice cars.
So Ive been thinking about what car I could get that is special enough bearing in mind the kind of money I want to spend.
E39 M5 it is then!
I wanted something quite young with as low mileage as possible to minimise the risk of problems. Ive been scanning the trade sources for about a week to ten days.
The problem was finding a post 2002 car with low mileage, at any given time there seems to be quite a few 99/00/01 cars with high miles around but no newer low mileage ones with the right spec, (comms pack, etc).
The reason for this is, in 2003 the new E60 5 Series was out and very few people were spending £60,000 on big a engined 5 series that was about to be replaced. Even though M5 followed in 2005, that was the general perception in the market, which meant only a tiny number of E39 M5’s were registered in 2003, and most of those were built in 2002/early 2003.
I also looked at the BMW website with a view to finding a good car, then ringing the used car manager at the branch and asking him if he wanted to trade it to me.
My wife works at a Cooper BMW dealer in sales admin (that’s how I met her). The plan was to find the right car in the trade, get it into her work, and let the workshop there bring it up to scratch and put a BMW warranty on it.
Then last Friday a car appeared on the Cooper Reading website that wasn’t there before. It was a 03/03 with 22k in Bluewater metallic, with plenty of spec on it. Good I thought this could be the one. Because it was in the Cooper group, I rang my wife to see if she could buy it in her name as a staff purchase at cost. She then rang the Sales manager at Reading who did not want to do this, as the car had only just arrived in PX and he understandably did not want to give it away for no profit straight away.
I then rang him myself this time with a view to buying it direct from them as a normal retail customer (by this time I had decided getting the right car was more important than saving a little bit of extra money), there are not many good ones about, and as Im not buying it to try and make a profit, I should get the right car. Plus it would already come prepped with a fresh warranty and it would save me doing it.
It was up for £26,500, he agreed a £500 discount over the phone, and I arranged to drive over the next day (Saturday).
When I got there it still dirty (I knew it would be, and understood it had not been prepped yet), but I can tell a good car from an average one even when its dirty. It was very very nice. This car had been supplied to the first owner by BMW uk as a brand new car, to replace the one he had owned from new in 2002 and had lots of major problems with. So this makes it a one owner car, and its proberbably one of the last ones ever built. I had a very short test drive, I know what they drive like, and knew I wanted one, but I just wanted to make sure it felt as it should. Of course it did!!
I sat down with the sales manager had a chat about the good old days of motor trading and hows business ETC. Then I managed to get another £500 off the price, bring it down to £25,500, still retail money, but compared to other inferior cars in the BMW network it was very good. I didn’t want to make my mind up too quick, so I said I would have a firm decision by Monday.
I then spent the rest of the weekend telling anyone who would listen all about it. Ive been watching some very good M5 clips on youtube, and worrying that someone else would snap it up.
So first thing Monday morning (today) I rang him to say Ill have it, and sorted some other details regarding the finance package.
It should be ready by next weekend.
Im sure that I must be only trader they have dealt with to sit down and buy a retail car from them.
Except for this year just gone, I have had company cars for the last 9 years in the motor trade. So I have not had a car of my own for a long time.
The strange and surprising thing to me is, although I have driven lots of very nice cars over the years(much more expensive and powerful than this one), but never owned one. I cant believe how excited I am about owning my very own car, although it is a bit special!!
Heres the story so far:
I’m an independent motor trader. I used to deal with some very high end cars, when I was a sales manager for main dealers, however been working for myself for just over a year, whilst everything else is good, I mainly trade with quite ordinary stuff, I don’t have a car that I keep just for me, I just drive whatever happens to have a tax disc in it, and really miss driving nice cars.
So Ive been thinking about what car I could get that is special enough bearing in mind the kind of money I want to spend.
E39 M5 it is then!
I wanted something quite young with as low mileage as possible to minimise the risk of problems. Ive been scanning the trade sources for about a week to ten days.
The problem was finding a post 2002 car with low mileage, at any given time there seems to be quite a few 99/00/01 cars with high miles around but no newer low mileage ones with the right spec, (comms pack, etc).
The reason for this is, in 2003 the new E60 5 Series was out and very few people were spending £60,000 on big a engined 5 series that was about to be replaced. Even though M5 followed in 2005, that was the general perception in the market, which meant only a tiny number of E39 M5’s were registered in 2003, and most of those were built in 2002/early 2003.
I also looked at the BMW website with a view to finding a good car, then ringing the used car manager at the branch and asking him if he wanted to trade it to me.
My wife works at a Cooper BMW dealer in sales admin (that’s how I met her). The plan was to find the right car in the trade, get it into her work, and let the workshop there bring it up to scratch and put a BMW warranty on it.
Then last Friday a car appeared on the Cooper Reading website that wasn’t there before. It was a 03/03 with 22k in Bluewater metallic, with plenty of spec on it. Good I thought this could be the one. Because it was in the Cooper group, I rang my wife to see if she could buy it in her name as a staff purchase at cost. She then rang the Sales manager at Reading who did not want to do this, as the car had only just arrived in PX and he understandably did not want to give it away for no profit straight away.
I then rang him myself this time with a view to buying it direct from them as a normal retail customer (by this time I had decided getting the right car was more important than saving a little bit of extra money), there are not many good ones about, and as Im not buying it to try and make a profit, I should get the right car. Plus it would already come prepped with a fresh warranty and it would save me doing it.
It was up for £26,500, he agreed a £500 discount over the phone, and I arranged to drive over the next day (Saturday).
When I got there it still dirty (I knew it would be, and understood it had not been prepped yet), but I can tell a good car from an average one even when its dirty. It was very very nice. This car had been supplied to the first owner by BMW uk as a brand new car, to replace the one he had owned from new in 2002 and had lots of major problems with. So this makes it a one owner car, and its proberbably one of the last ones ever built. I had a very short test drive, I know what they drive like, and knew I wanted one, but I just wanted to make sure it felt as it should. Of course it did!!
I sat down with the sales manager had a chat about the good old days of motor trading and hows business ETC. Then I managed to get another £500 off the price, bring it down to £25,500, still retail money, but compared to other inferior cars in the BMW network it was very good. I didn’t want to make my mind up too quick, so I said I would have a firm decision by Monday.
I then spent the rest of the weekend telling anyone who would listen all about it. Ive been watching some very good M5 clips on youtube, and worrying that someone else would snap it up.
So first thing Monday morning (today) I rang him to say Ill have it, and sorted some other details regarding the finance package.
It should be ready by next weekend.
Im sure that I must be only trader they have dealt with to sit down and buy a retail car from them.
Except for this year just gone, I have had company cars for the last 9 years in the motor trade. So I have not had a car of my own for a long time.
The strange and surprising thing to me is, although I have driven lots of very nice cars over the years(much more expensive and powerful than this one), but never owned one. I cant believe how excited I am about owning my very own car, although it is a bit special!!
Edited by kentmotorcompany on Monday 12th March 20:59
I wish you all the best with it, sounds like a very rare and very nice car, bluewater is also one of the best colours IMO.
I went the main dealer route as well, I felt it was worth the extra money for the peace of mind the preparation and warranty give, and it doesn't seem a bad price you've got.
Do you have any pictures?
I went the main dealer route as well, I felt it was worth the extra money for the peace of mind the preparation and warranty give, and it doesn't seem a bad price you've got.
Do you have any pictures?
M5Dave said:
I wish you all the best with it, sounds like a very rare and very nice car, bluewater is also one of the best colours IMO.
I went the main dealer route as well, I felt it was worth the extra money for the peace of mind the preparation and warranty give, and it doesn't seem a bad price you've got.
Do you have any pictures?
I went the main dealer route as well, I felt it was worth the extra money for the peace of mind the preparation and warranty give, and it doesn't seem a bad price you've got.
Do you have any pictures?
Thanks for your opinion on the colour, it was only thing I wasnt too sure about. I thought it might be a little too subtle for such a special car.
I dont have any pictures yet, but Ill take some next week. Im dont know how to post pics on here, maybe Ill just put a couple in my profile.
nice job and a enthusiast's story
good to hear your happy with you own car! a car you can love... 
Excellente.
I am beginning to wonder if the E39 M5 is the most capable road car chassis ever?
Ok, wondering over, it probably is.
So, do I replace it next year when it blasts through 100k miles with something like an E55 AMG?
Of course not.
I open the bonnet, give a man some spanners and a tan of grubby fivers and assail him with a request involving the words "six hundred gee gees via supercharger."
And hope nobody says anything.
I am beginning to wonder if the E39 M5 is the most capable road car chassis ever?
Ok, wondering over, it probably is.
So, do I replace it next year when it blasts through 100k miles with something like an E55 AMG?
Of course not.
I open the bonnet, give a man some spanners and a tan of grubby fivers and assail him with a request involving the words "six hundred gee gees via supercharger."
And hope nobody says anything.
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