First M advice please!

[JohnnyPanic]

And indeed first BMW...

Long story short: currently drive a MkII MR2 but am looking for something a bit 'more' for my imminent honeymoon on onwards. Had been thinking about a TVR Chim, but I think they're just too impractical as our only car (especially being based in London). Crucially for the future-wife they tend not to have air-con.

So, I'm currently thinking M5. I would prefer pre-stupid-road-tax-march-2001, and fortunately my budget of £8k (9 at a push) would seem to go along with this!

Would my budget get me a reasonable 5? Something like this for instance?

Am I barking up the wrong tree or are there good cars to be found for the money?
Anything in particular I should look out for?

Apologies for the newbie questions, but thanks very much in advance for any advice!

[rassi]

As long as you remember that even an 8K M5 was a 60K car, and therefore some parts will be (much) more expensive and specific to the model than an ordinary 8K average car, then yes.

However, if you already stretched yourself by buying an 8K car, I wouldn't advise it as insurance, fuel and servicing costs (even using an independent, tyres, oil, brakes etc are still £££) will still be expensive.

[MGR]

Fantastic cars and at the price they are now a bargain. Get it checked out before buying however as they were expensive new. As long as you realise you are buying a car that was ££££ when new so has equivalent running costs you can't go wrong. Coming from an MR2 the running costs could be a shock.

Buy one !

[JohnnyPanic]

Thanks both. The ongoing cost levels aren't a major worry - I have just been looking at TVRs after all! So long as I'm not looking at an engine rebuild or chassis stripping of course, it's all taken into account.

My up front budget is limited by
a) Wanting to buy outright
b) Most of my cash currently paying for the f'ing wedding!

I know of Rob Ingelby in the TVR world, is there a good independent person to check out an M5?

[belleair302]

Loads of specialists but where in London do you live and where is the car based that you are looking to buy? Budget around 2K per annum for servicing costs and remember to get the Vanos fully checked before you buy and beware of the thirst for oil....some drink well over a litre a 1,000 miles! Tyre costs hurt too and get a decent CAT 1 alarm / tracker. Your fuel bills are about to go through the roof!

[rassi]

Another tip is to drive as many as possible, to get a feeling for how a good one runs! They can vary signicantly (possibly due to duff MAFs) but some are definitely keener than others.

It might be difficult to get a post-September 2000 facelift one for your 8K budget, but you will want to do the facelift upgrades (lights and nav-screen) in any case at some point in time, so budget for that, which means it may be cheaper to get a facelift from the beginning.

Finally, in 3 years of ownership and about 60.000 km, mine has needed only routine service except for changing of MAF and pre-cat O2 sensors + weeping diff seals. It uses less than a litre of oil every 2500 km and has been very frugal when it comes to tires (the rear Michelin PS2 lasting so far 30.000 km!)

Cracking car!

Edited by rassi on Tuesday 24th March 16:32

[asbo]

Many E39 M5's are well into 100k+ miles now and still running sweet as a nut.

I know of one in particular that is constantly proving its metal in the face of turbo-charged adversaries from Ford (another story) and continues to prove itself as just about the best car ever created.

Buy one that's obviously been cherished. That is the only advice I can offer over and above what has been said. On this basis, I'd rather buy privately and get an idea of what the previous owner was like, than buy from a trader on the premise of a 'cover-all' warranty that in reality offers sod-all come-back should things turn sour. Your budget will also stretch further on a private sale too.

Do also consider that as these cars reach 100k miles, things like dampers, brakes and clutches will need consideration and could be a possible reason for the sale in the first place.

Epic cars though and now ludicrously good value. I will have one very soon me thinks.

[mat205125]

JohnnyPanic said:

Thanks both. The ongoing cost levels aren't a major worry - I have just been looking at TVRs after all! So long as I'm not looking at an engine rebuild or chassis stripping of course, it's all taken into account.

I'd echo the concerns regarding some of the potential parts prices.

Whilst a TVR could be statistically more likely to go wrong, there is a lot of parts on the car that can be cheaply replaced once you find out what Land Rover/Ford/Unipart/misc parts bin they cam out of ... A relatively minor MOT fail on an M, for example discs, pads and a leaking damper, can quickly end up in an alarming bill.

If you can buy, and keep a grand of "emergency money" in a 2nd account, then you will love every minute of and E39 M5.

The relative running costs of an E36 M3 could be more manageable as an alternative. 4 doors versions are available in this species of 3 series, and your budget would be buying the very very best E36 rather than the older and higher mileage end of the E39 spectrum.