Advice on potential M5 purchase?

[stackmonkey]

Hi, this is one of first few times on this forum. Later on this year I'm hoping to swap the Prelude in for a 3.8M5 with the 6 speed 'box.
Given that I don't really know about the cars in detail, I'll probably buy from a dealer. It will be a week end car ( I have a co. car for the week) so mileage will be no more than 5k p.a., it will be in a garage during the week, about 10K-11K to spend (hopefully), and it will need to be in good condition as I will intend to keep it for a few years.

I'm asking now to avoid an expensive mistake after the event...
Dealers to recommend (I'll travel for a good one)
Insurance (last ball-park figure was £1.5K!!)
Problems /aspects to look out for, and finally,
What should I expect to get for my money?

All pointers will be greatly appreciated (even if I don't respond quickly).
I used to own a 90G 530iSE, which I loved, but always wanted that M5

Thanks

[Raify]

I can reccomend a dealer:

Munich Legends (in the Ashdown Forest, south of East Grinstead)

[url]www.munichlegends.co.uk/welcome.html[/url]

They always have a few on the forecourt.

[m-five]

For a private sale you could get a good, low mileage (less than 50,000 miles), 93-95 car for £11k-£12k. Munich Legends will add another couple of grand on top, but you do get the piece of mind from buying from a reputable specialist. You may be able to get one of the LE models for £12k, but not from a dealer!

Suspension is the biggest worry - if the suspension is leaking it could cost (up to) £4k to completely replace (assuming you choose to replace other ancilliaries at the same time such as suspension bushes, wheel bearing, etc).

Insurance can be expensive, but I have got mine down to £956 with Liverpoool Victoria which includes unlimite mileage, unlimited business mileage and track day cover. They also don't give a toss about speeding points (although any other driving convictions will affect the premium). The next cheapest quote I found was £1307 with Norwich Union.

My 2003 insurance quotes can be found at www.mmm-five.net/Other/insurance.htm

[xxplod]

Best of luck hunting. I very nearly bought one in 2000, instead of the Elise I did get. I looked at 5 all told. Combinations of too many owners or miles, and not enough history and receipts and general evidence of people you could afford to buy it at say £10K, but couldn't afford to run an M5.
The old adage of buy the best you can afford holds here. They are knocking on a bit now. New paint/interiors/major mechanicals are megabucks.
Let us know!

[XM5ER]

Take your time looking, it took me a while to find the right one.

As M-Five said, EDC suspension is the killer. It will go at 70-80K miles, and there is no avoiding it, when they are shot it handles like a pig on stilts.


I have a contact who can get the shocks for a lot less than dealer prices (unless he's disappeared).

Check this site for all the info http://bmwe34m5.com/faqs/

Also Richard Baxter at BMW car club really knows his stuff, he posts on the yahoo M5 group (link from the site above).

BTW M-Five, your old site helped me decide to buy my old M5 a couple of years ago, they just look so gooood.

[stackmonkey]

Thanks, thus far. I've printed off so I don't lose it all. Once I've got one (ay be a while) I'll get a pic posted.

[m-five]

XM5ER said:

BTW M-Five, your old site helped me decide to buy my old M5 a couple of years ago, they just look so gooood.

Glad I could be of some help!

BTW I wouldn't advise test driving an M5 in the snow