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2010 2011 BMW 5 Series Forum F10 Every bought car from insurance auction? |
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06-02-2014, 10:59 PM | #1 |
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Every bought car from insurance auction?
Is it safe to buy a BMW from insurance auctions? I found a 2004 545i black/black 66,000 miles one owner clean title for asking price 12,900 from a dealer who purchases strictly from insurance auctions . All their vehicles are very clean from what I can tell .
Last edited by Chad20; 06-03-2014 at 04:29 PM.. |
06-03-2014, 07:55 AM | #2 |
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Doesn't insurance auction mostly sell cars with salvage titles? Once a while, you will find one with a clean title, but you need to do your homework and find out how that car ended up at a insurance auction.
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06-03-2014, 09:51 AM | #3 |
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Just my two cents but if you are struggling to find a 5 series at such a cheap price and that's the only way you can get into one maybe you need to wait. You are setting yourself up for a headache.
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06-03-2014, 10:17 AM | #4 |
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I can afford one I'm stuck between one with 66k miles 1 owner but from dealer who's cars are mostly clean but from insurance auctions asking 12,999 or one with 73,000 miles asking 14,500 from a mercedes dealership . Both one owner . I just figure why not save a few thousand?
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06-03-2014, 10:18 AM | #5 |
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I'm gonna check the carfax and inspect the car thoroughly
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06-03-2014, 10:30 AM | #6 |
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06-03-2014, 11:13 AM | #7 | |
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Sorry for the random jumble I'm at work lol |
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06-03-2014, 12:45 PM | #11 | |
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06-03-2014, 12:45 PM | #12 | |
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06-03-2014, 04:25 PM | #14 |
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06-03-2014, 04:31 PM | #15 |
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06-03-2014, 05:47 PM | #16 |
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Chad...
1. There's no such thing as a free lunch. There's a reason why one product is priced significantly below another. Hint - it's not the good will of the seller. The seller isn't uneducated - they know what the asking price is for the car in good condition. The lower price is a reflection of VALUE, where value consists of quality of the merchandise and also the buyer's risk. 2. Keep your 328. It's the smartest (and easiest) decision. You don't even need to go to a dealer to make it happen! Put all of this extra energy and time into something that MAKES you money instead or blows it. 3. See 1 and 2 - just figured there should be 3 points to make here.
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06-03-2014, 06:07 PM | #17 |
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06-03-2014, 06:20 PM | #18 | |
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06-03-2014, 08:55 PM | #19 |
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send me the vin #s and i will run the carfax for you ... atleast we will see if there is anything to worry about that was reported .. i have a dealer account so no charge
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06-03-2014, 09:15 PM | #20 | |
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As has seemingly been said several times here, your time will come. But only if you make the smart and prudent plays now. The ones I, EZmaas, and many others made when we were your age. Hell, be happy with your 328. I'm pretty sure I had a well used Monte Carlo at that stage of my life.
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06-03-2014, 09:25 PM | #21 | |
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When I was your age (man I feel old using that phrase!) I would have been very happy with the 328. It's a NICE car for any 21 year old to be driving, first of all. Beyond that, it's a nice car period. It may not have all the bells and whistles of a 5-series, I hear you - but like I said above, be patient... and nice material things will follow success in life. It's not bad that you desire a nicer car. What's bad is stretching yourself to buy one. Being able to pay for something (or make payments on it) isn't necessarily "affording" it as you'll come to find out. The credit crisis and housing collapse in 2008 (and what we're still recovering from) is evidence of it. What's the rush? Keep the 328 (make sure it's paid off if it isn't) and drive it until it won't go any longer. It'll honestly last you as long as you wish if it's maintained. If you jump into an old e60 545i right now, you're going to experience a few unpleasant realities: 1. You'll eventually "get bored" of that car, too - but you'll have blown your cash on it. 2. You'll learn just how EXPENSIVE it is to repair and maintain an old German V8 luxury car. Most older "wealthy" people would still cringe at the idea of maintaining an e60 545. Instead of taking your hard-earned cash and using it for fun stuff like vacations, concerts, nights on the town, etc at 21 - you're going to be dumping money hand-over-fist into multi-thousand dollar surprise bills from your local BMW dealer. On the bright side, they'll love you. 3. You're going to be cheating yourself of an opportunity to get ahead in life. As I've said in previous posts, NOW is the time to set yourself up for a better financial future and instill some good practices (investing, savings, retirement, etc). You WILL (I promise) come to regret not doing this down the road. So, again... what's the rush? There's just very little upside and lots of downside to any decision to buy an old 545 in your shoes. I think a lot of people have tried here to talk you out of it and save you lots of pain and grief. You can do what a lot of 21 year olds do and not listen to sage advice... and learn through your own experience. OR, you can learn from others' experience and be ahead of the game. Your choice, Chad! If you like reading (honestly, even if you don't), pick up a book called "Rich Dad, Poor Dad." Read it carefully before making any decision.
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2015 Audi R8 V10 | Brilliant Red on Black | S-Tronic | Carbon Sideblades | Carbon Trim | Full Leather | Sport Exhaust | Illuminated Doorsills | I-Pod | Contrast Stitching Previous: '14 550xi, '07 335i, '01 325i Last edited by ezmaass; 06-03-2014 at 09:30 PM.. |
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06-03-2014, 10:41 PM | #22 |
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You must pass State Salvage Inspection if you purchase any car from insurance auction, and you will get rebuilt title.
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