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I disagree with some comments on this forum. I own a 550 because when I looked to change my Audi A8 for a BMW I took many things into consideration.
At the time when I bought my 550 I owned a Porsche 997 and an Audi A8 both paid off... I decided to give my father the Audi for his 60th anniversary and had to go find a car.
Looking around I found a 5 month old 550 with just 2k miles fully loaded for $56k and I mean fully loaded $82k sticker..
Once I got the 550 I realize how cheap it was to get more power, I wasn't trying to make it look like an M5 I was just trying to get more power... After spending about $15k I can now take M5s from the line to about 120mph... Not only do I have great power, suspension and brakes but I also enjoy taking the car to the runner and spending time Doing research, this is part of the fun.
The 550 is my everyday car and I am happy to know that for $66k I have an amazing machine, might not be the M5 but hey, I saved $50k which I can now use for many other things...
Since then I sold my 997 and I am thinking of getting the M5 or maybe the porsche cayenne and letting my wife take my 550
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