[Chad20]

I'm in the market for any 5 series I can get my hands on although I would like an f10 I just can't afford it at this time maybe in a year.
There is a toyota dealership in town they have a 2008 550i every option except night vision . It has 118,000 miles 3 owners. Gray with black interior. The dealer had it at 21995 and put a sale price of 19995 but offered to sell it to me for wholesale price just cause I have a good relationship with the dealership . So around 16-17,000$ for it . Is this a good deal or should I pass on it ? Ive waited to get one for long enough lol

[The_Transporter]

Over 100k miles on almost any car is generally not the best move unless you are a mechanic or really good friends with one as repairs may be needed frequently at that mileage. Just in my opinion.

[Chad20]

Originally Posted by The_Transporter

Over 100k miles on almost any car is generally not the best move unless you are a mechanic or really good friends with one as repairs may be needed frequently at that mileage. Just in my opinion.

Even at the price of 16-17k? The kbb retail value is 23,600$

[The_Transporter]

Unfortunately I doubt the dealership is doing you a solid. They are probably happy that someone is interested in their 5series with over 100k miles and want it gone. I'd def get more input on it from others, but I for one would be nervous. Your first repair bill after the purchase could very well put you over the kbb on it easily. Just something to think about.

[Dan1416]

Run away! As far and as fast as you can!

That thing will be a money pit. I would never buy a used car that isn't certified. It's just too risky

[pillpusher84]

Originally Posted by Dan1416

Run away! As far and as fast as you can!

That thing will be a money pit. I would never buy a used car that isn't certified. It's just too risky

Especially a BMW with so many miles.... you are asking for a huge repair bill in the near future.

If you can't afford the F10 BMW ... get something reliable that you can afford. Take a look at a 2010 Acura TL SH-AWD w/ Tech Package ... this is a very nice car for your price range, and more reliable than the BMW.

Heck ... we all want stuff we can't afford (2015 BMW M6 Gran Coupe ) ... but we stay within our means, and eventually the time will come when you have the cash for the latest & greatest ... but until then ... why put yourself in a precarious position just to drive a fancy car?

[ezmaass]

Look, there's no such thing as a "good deal" on an older German luxury car. As the poster above said, unless you're really mechanically inclined or have some kind of desire to restore or tinker with a car, you're talking about a car that's coming up on 7 years old now and 118k miles - maintenance will not come cheap. Plus, "all the bells and whistles," not to mention the V8, translates to "fun" when under warranty and "cost" when OUT of warranty.

The thing about cars is... their maintenance cost doesn't depreciate like their value. In fact, maintenance is usually inversely proportional to value as a car ages. If you're suggesting that money is a concern (can't afford an F10), I'm also making the assumption that you can't afford random repair bills showing up for a few thousand here, or several thousand there. You may get lucky and skate some major issues, or you may get hit with major issue or two... or three... it's a gamble.

Owning an older German luxury car is not for someone on a budget. And therein lies the trap for many people who are lured by the highly depreciated value. I kept my two former BMWs for 6.5 years a piece (from new). They start to become noticeably more expensive to maintain around that age. The 3 series is actually not bad all things considered, and if you've paid off the car, keeping one well past 6 or 7 years is certainly doable. But the 5 and 7 series tend to depreciate quicker as a result of the significantly higher maintenance costs. Like I said, I certainly wouldn't recommend one for someone who is at-all budget conscious. Or let's put it another way - a person who can afford to buy and maintain an older 5 or 7 can also afford to buy a new 5 or 7.

So, in a nutshell - I'd pass. If $17k - $20k is your budget, I'd look at well maintained 3 series cars (no N54 335's for the same reasons as above). If you're able to go to $30k - $35k, you can probably get into something that's a 5-series CPO - haven't looked into this but generally estimating here. But certainly don't stretch yourself for a car. I know you said you've been waiting "long enough" for a 5 series... but hey, they're not going to stop making them anytime soon.

[bake]

I believe in buying cars used as the bulk of the depreciation occurs in the first two years, but I wouldn't buy a BMW V8 used with over 100k miles. That car will suck the life out of your pocket! If you are going to pick up an older 5 series (let's say 5 years or older), I would stick with the 535 or 530 (the inline 6 cylinder is BMW's bread and butter). Less costly to maintain, and still had decent horsepower.

[konasunset]

definitely pass!

[Chad20]

Originally Posted by pillpusher84

Especially a BMW with so many miles.... you are asking for a huge repair bill in the near future.

If you can't afford the F10 BMW ... get something reliable that you can afford. Take a look at a 2010 Acura TL SH-AWD w/ Tech Package ... this is a very nice car for your price range, and more reliable than the BMW.

Heck ... we all want stuff we can't afford (2015 BMW M6 Gran Coupe ) ... but we stay within our means, and eventually the time will come when you have the cash for the latest & greatest ... but until then ... why put yourself in a precarious position just to drive a fancy car?

I test drove the acura tl 2013 sh-awe w/tech and did not like it . If I was buying an acura tl I could spend 30,000$ and have low maintenance , or I could buy a 08 5 series for half the price and use the 10-15k I saved on the purchase towards repairs . I can't buy anything other than a BMW at this point . I have an 07 328i and am getting very bored very fast with it, although it's still a better car than the majority I've driven . I though the 550i were great especially compared with the 545i. Then again I've never owned one , just forum research . It's either I'm buying a 545i 128k miles sport pack for 6k from my dealership , or a 08 550i every option 118k for 16-17k , or keeping my 328i for 6 more months . I'm going out of town for a week and need a comfortable car for the drive .

[Chad20]

Originally Posted by ezmaass

Look, there's no such thing as a "good deal" on an older German luxury car. As the poster above said, unless you're really mechanically inclined or have some kind of desire to restore or tinker with a car, you're talking about a car that's coming up on 7 years old now and 118k miles - maintenance will not come cheap. Plus, "all the bells and whistles," not to mention the V8, translates to "fun" when under warranty and "cost" when OUT of warranty.

The thing about cars is... their maintenance cost doesn't depreciate like their value. In fact, maintenance is usually inversely proportional to value as a car ages. If you're suggesting that money is a concern (can't afford an F10), I'm also making the assumption that you can't afford random repair bills showing up for a few thousand here, or several thousand there. You may get lucky and skate some major issues, or you may get hit with major issue or two... or three... it's a gamble.

Owning an older German luxury car is not for someone on a budget. And therein lies the trap for many people who are lured by the highly depreciated value. I kept my two former BMWs for 6.5 years a piece (from new). They start to become noticeably more expensive to maintain around that age. The 3 series is actually not bad all things considered, and if you've paid off the car, keeping one well past 6 or 7 years is certainly doable. But the 5 and 7 series tend to depreciate quicker as a result of the significantly higher maintenance costs. Like I said, I certainly wouldn't recommend one for someone who is at-all budget conscious. Or let's put it another way - a person who can afford to buy and maintain an older 5 or 7 can also afford to buy a new 5 or 7.

So, in a nutshell - I'd pass. If $17k - $20k is your budget, I'd look at well maintained 3 series cars (no N54 335's for the same reasons as above). If you're able to go to $30k - $35k, you can probably get into something that's a 5-series CPO - haven't looked into this but generally estimating here. But certainly don't stretch yourself for a car. I know you said you've been waiting "long enough" for a 5 series... but hey, they're not going to stop making them anytime soon.

I'm guessing you owned an e60 5 series . What's the projected rough estimate yearly cost to own , factoring in a good independent mechanic who charges 95$ an hour .

[konasunset]

you have heard from most of us that you should pass on this--but it sounds like you really want to get the car. decision is yours to make, of course, but deciding to go ahead because you are going out of town for a week seems rather rash to me.

[Dan1416]

Originally Posted by konasunset

you have heard from most of us that you should pass on this--but it sounds like you really want to get the car. decision is yours to make, of course, but deciding to go ahead because you are going out of town for a week seems rather rash to me.

Well said

[ezmaass]

Originally Posted by Chad20

I test drove the acura tl 2013 sh-awe w/tech and did not like it . If I was buying an acura tl I could spend 30,000$ and have low maintenance , or I could buy a 08 5 series for half the price and use the 10-15k I saved on the purchase towards repairs . I can't buy anything other than a BMW at this point . I have an 07 328i and am getting very bored very fast with it, although it's still a better car than the majority I've driven . I though the 550i were great especially compared with the 545i. Then again I've never owned one , just forum research . It's either I'm buying a 545i 128k miles sport pack for 6k from my dealership , or a 08 550i every option 118k for 16-17k , or keeping my 328i for 6 more months . I'm going out of town for a week and need a comfortable car for the drive .

What? So, you're going to buy one high mileage 5 or another? Why the desperation? You said you're just getting "bored very fast" with your 328. But in all honesty, that 328 is probably 10x more reliable and lower cost to operate than either of the 5's you've mentioned. What does going out of town for a week have to do with making a terrible buying decision? Most people don't choose to buy a car based upon a 1 week trip out of town?

Keep the 328 and enjoy it. The N/A inline 6 is a silky smooth and beautiful engine. There's something really wonderful about it, and BMW won't be making any more of them unfortunately now that everything has gone eco-focused with turbos. The two 5's you've mentioned, while nice cars, are undoubtedly going to cost you a pretty penny to maintain. I'd keep the 328, keep pocketing your money, and buy a newer 5 when you're financially able. Nothing will be less rewarding than owning a money pit.

[Chad20]

Originally Posted by ezmaass

What? So, you're going to buy one high mileage 5 or another? Why the desperation? You said you're just getting "bored very fast" with your 328. But in all honesty, that 328 is probably 10x more reliable and lower cost to operate than either of the 5's you've mentioned. What does going out of town for a week have to do with making a terrible buying decision? Most people don't choose to buy a car based upon a 1 week trip out of town?

Keep the 328 and enjoy it. The N/A inline 6 is a silky smooth and beautiful engine. There's something really wonderful about it, and BMW won't be making any more of them unfortunately now that everything has gone eco-focused with turbos. The two 5's you've mentioned, while nice cars, are undoubtedly going to cost you a pretty penny to maintain. I'd keep the 328, keep pocketing your money, and buy a newer 5 when you're financially able. Nothing will be less rewarding than owning a money pit.

Most of the lower mileage ones have low miles for a reason in a lot of cases . They are usually bad color combos or options . If everything checks out you still personally would not consider a 550i at that mileage for 16k? What would be a right price? 10k?

[pillpusher84]

Originally Posted by Chad20

I test drove the acura tl 2013 sh-awe w/tech and did not like it . If I was buying an acura tl I could spend 30,000$ and have low maintenance , or I could buy a 08 5 series for half the price and use the 10-15k I saved on the purchase towards repairs . I can't buy anything other than a BMW at this point . I have an 07 328i and am getting very bored very fast with it, although it's still a better car than the majority I've driven . I though the 550i were great especially compared with the 545i. Then again I've never owned one , just forum research . It's either I'm buying a 545i 128k miles sport pack for 6k from my dealership , or a 08 550i every option 118k for 16-17k , or keeping my 328i for 6 more months . I'm going out of town for a week and need a comfortable car for the drive .

So rent a car for the week ... and then find something that meets your needs. It sounds ridiculous to make a $20k decision over a car trip you're making a week from now.

Want to be a real cheapo? Make a service appointment at your dealer for your 3-series, and take their loaner X5 on your trip ... problem solved.

[P1]

I had a look at the car on the dealership's Web site and it looks to be very clean. Only three previous owners and the Carfax is clean. If there is a way to get a hold of the service records, and it checks out well, then I don't see a problem buying a car with 100K+ miles. Being European, we drive our cars much much longer than Americans do. Of course, most of them are diesels and don't have all the options, so take that into consideration also. The more gadgets: the more expensive crap there is to break.

[noixd]

cmon now don't even bother buying a car used by 3 peeps for 20K with 100+ miles. You will be seeing check engine light within a 2 years. Go and get yourself a new Honda Accord. Stop flossing menggg!

[Chad20]

Originally Posted by P1et

I had a look at the car on the dealership's Web site and it looks to be very clean. Only three previous owners and the Carfax is clean. If there is a way to get a hold of the service records, and it checks out well, then I don't see a problem buying a car with 100K+ miles. Being European, we drive our cars much much longer than Americans do. Of course, most of them are diesels and don't have all the options, so take that into consideration also. The more gadgets: the more expensive crap there is to break.

Good research the service records are very good except the last owner had the car since 31k miles to 118k and there are no records on their I'm assuming he took it to an independent mechanic . I noticed the same thing as you it's immaculate especially in person there isn't a single ding or scratch even the leather doesn't look sat in

[The X Men]

Originally Posted by Chad20

I test drove the acura tl 2013 sh-awe w/tech and did not like it . If I was buying an acura tl I could spend 30,000$ and have low maintenance , or I could buy a 08 5 series for half the price and use the 10-15k I saved on the purchase towards repairs .

Why stop with a 08 5 series? You can probably get a 15 years old Porsche 911 for the same price

[bkM3]

Originally Posted by Chad20

Good research the service records are very good except the last owner had the car since 31k miles to 118k and there are no records on their I'm assuming he took it to an independent mechanic . I noticed the same thing as you it's immaculate especially in person there isn't a single ding or scratch even the leather doesn't look sat in

the fact that the car has 118k miles and not a single scratch, ding, or dent on it would raise a red flag for me. it could mean that the car was in a major accident alot of body panels are replaced. carfax doesnt always tell you the whole story.

carfax says that the car was LEASED in december of 2008 but was then sold at auction in august of 2009. iv never seen a lease that short. the car was then sold again in june of 2010 so the second owner had it for less than a year as well?

i dont know man, something sounds off.

[Chad20]

Originally Posted by bkM3

the fact that the car has 118k miles and not a single scratch, ding, or dent on it would raise a red flag for me. it could mean that the car was in a major accident alot of body panels are replaced. carfax doesnt always tell you the whole story.

carfax says that the car was LEASED in december of 2008 but was then sold at auction in august of 2009. iv never seen a lease that short. the car was then sold again in june of 2010 so the second owner had it for less than a year as well?

i dont know man, something sounds off.

It did seem suspicious to me also . Although the car was in LOS ANGELOS , so my only guess is someone very wealthy did a 1 year lease on it cause of all the nice options I mean the car essentially has every single option you can get .the 2nd owner section does worry me , I checked the car thoroughly for anything related to an accident and couldn't find anything, car tracks straight too.