Thinking of buying an 02 M5 (E39 i thik)
Discussion
the m5 i bought was a year older, but with half this mileage
its the only car i have ever rejected and the dealer said he couldnt argue.
it had maf sensor replacements, faulty dampers, anti roll bar issues, the list went on.
personally i cant see the point when a low mileage 04/05 Monaro VXR can be bought for the same money - which is what i went and bought with my refund cheque and never looked back..
bennno
its the only car i have ever rejected and the dealer said he couldnt argue.
it had maf sensor replacements, faulty dampers, anti roll bar issues, the list went on.
personally i cant see the point when a low mileage 04/05 Monaro VXR can be bought for the same money - which is what i went and bought with my refund cheque and never looked back..
bennno
I certainly don't regret buying my car 15 months ago. Running costs in my profile.
A few links worth reading:
www.pistonheads.com/gassing/topic.asp?p=1&f=72&t=226430
www.pistonheads.com/gassing/topic.asp?p=1&f=72&t=181490
www.pistonheads.com/gassing/topic.asp?t=273123
www.pistonheads.com/gassing/topic.asp?t=289556
www.pistonheads.com/gassing/topic.asp?t=139593
Warranty costs have recently been raised significantly by BMW UK. Now about £1,800 per year on cars between 60 & 100k miles. Warranty not extendable on cars over 100k miles.
FSH is a must and get a specialist to check the car over.
If Vanos needs fixing it is expensive within the main dealer network (£3,500 per engine bank, although cheaper with decent independents as it's a labour intensive fix). Accordingly I'd suggest it's not the sort of car you want to be buying with your last few £. You really need to have a spare few £'000 available if the worse happens. If you don't get an unexpected big bill it's one of the greatest value for money cars out there.
DAZ
A few links worth reading:
www.pistonheads.com/gassing/topic.asp?p=1&f=72&t=226430
www.pistonheads.com/gassing/topic.asp?p=1&f=72&t=181490
www.pistonheads.com/gassing/topic.asp?t=273123
www.pistonheads.com/gassing/topic.asp?t=289556
www.pistonheads.com/gassing/topic.asp?t=139593
Warranty costs have recently been raised significantly by BMW UK. Now about £1,800 per year on cars between 60 & 100k miles. Warranty not extendable on cars over 100k miles.
FSH is a must and get a specialist to check the car over.
If Vanos needs fixing it is expensive within the main dealer network (£3,500 per engine bank, although cheaper with decent independents as it's a labour intensive fix). Accordingly I'd suggest it's not the sort of car you want to be buying with your last few £. You really need to have a spare few £'000 available if the worse happens. If you don't get an unexpected big bill it's one of the greatest value for money cars out there.
DAZ
I loved my E39 M5. It was reliable, spacious, stylish and very fast.
As Darren mentioned, BMWFSH is important. These cars are pretty solid so a high mileage example in good condition is better than a tatty low miler. The comms pack (SatNav) is a desirable option to have although not essential. Popular colours are black, blue and silver(zzz).
The warranty is probably the main issue these days - personally I would have it as it's good insurance in case things do go wrong (which is very costly).
Great cars and highly recommended. There are quite a few around so take your time and pick a good 'un.
As Darren mentioned, BMWFSH is important. These cars are pretty solid so a high mileage example in good condition is better than a tatty low miler. The comms pack (SatNav) is a desirable option to have although not essential. Popular colours are black, blue and silver(zzz).
The warranty is probably the main issue these days - personally I would have it as it's good insurance in case things do go wrong (which is very costly).
Great cars and highly recommended. There are quite a few around so take your time and pick a good 'un.
Not sure whether I'm glad or scared witless that I didn't research this properly...we test drove a 2001 M5 last Fri, and put down a deposit! Now I've read this and the links kindly provided by Dazren above and I'm chewing my fingernails. Especially since it's Le Mans blue...same colour and year as the one Benno handed back 
You may be going to read some interesting stories on here in a little while...
Edited by caro on Monday 7th August 12:09
Caro I wouldn't worry too much. IMHO the potential for big bills is one of the reasons prices of these cars are so low. Just make sure you get the car professionally checked over. A common problem is the brackets on the rear roll bar breaking, this is a quick £30 fix (Mine failed the MOT on it!).
A lot of people will only buy these cars with a warranty. It all comes down to personal circumstances, As I only do 7/8k miles a year, if there is a big bill in my proposed 4/5 years of ownership the work will be done by a decent independent and I should still be infront.
DAZ
Oh and for more technical queries there is a specific M5 forum which I frequently use the search facility on:
www.m5board.com
A lot of people will only buy these cars with a warranty. It all comes down to personal circumstances, As I only do 7/8k miles a year, if there is a big bill in my proposed 4/5 years of ownership the work will be done by a decent independent and I should still be infront.
DAZ
Oh and for more technical queries there is a specific M5 forum which I frequently use the search facility on:
www.m5board.com
Edited by dazren on Monday 7th August 12:27
For reference, I did a bit of online trawling last night. Found a couple of places who do warranties for M5's. You are looking at £1000 for a maximum payout of £2,500 for two years or £1000 for a maximum payout of £4000 for one year. Both different companies and both who cover "the engine" and all relevant parts.
It obviously wouldnt cover a complete new engine - which is £10k + fitting, but a rebuild at an indie should be covered and a relatively small bill afterwards at least. At least its better than the £1800+ that BMW are asking for! Oh, and these two warranty companies DO cover cars with more than 100k miles on the clock - so its at least some piece of mind.
But, that said - the more common things to check are the clutch and brakes - make sure that any purchase has had a clutch in the last few 1000's and the brakes are fairly fresh. A cluch is a £1000 job and brakes all round wont leave much change from £800 if you get a dealer to do it! Oh and tyres can be expensive too - so check them too. Other than that there isnt much that jumps out as a major issue.... 'cept Aircon - make sure it works too - compressors are known to fail (a E39 problem) and the pusher fan is vulnerable at the front too.... not too expensive to replace, but a pain if you havent budgeted for them (like I hadnt!).
It obviously wouldnt cover a complete new engine - which is £10k + fitting, but a rebuild at an indie should be covered and a relatively small bill afterwards at least. At least its better than the £1800+ that BMW are asking for! Oh, and these two warranty companies DO cover cars with more than 100k miles on the clock - so its at least some piece of mind.
But, that said - the more common things to check are the clutch and brakes - make sure that any purchase has had a clutch in the last few 1000's and the brakes are fairly fresh. A cluch is a £1000 job and brakes all round wont leave much change from £800 if you get a dealer to do it! Oh and tyres can be expensive too - so check them too. Other than that there isnt much that jumps out as a major issue.... 'cept Aircon - make sure it works too - compressors are known to fail (a E39 problem) and the pusher fan is vulnerable at the front too.... not too expensive to replace, but a pain if you havent budgeted for them (like I hadnt!).
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