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You will be very lucky to get a replacement car or your money back primarily due to squeaking brakes. The M5 has a high performance floating rotor brake system which is known to be 'noisy'. It one of the issues one has to live with when purchasing a high performance car with decent brakes occasionally. I hope you've tried the various methods to mitigate the squeal before you attempt to head down this route.
Good luck with whatever decision you choose to pursue however.
Bish
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