On the hunt from a BMW f10 M5 - advice please

[drbru]

Hi guys

New to this forum so please bear with me

Im coming from an RS4 avant and Im clear in my mind that the new M5 is the one for me.. Iv done a lot of research as I am looking to buy a second hand UK car however the one thing that is not clear to me is what should I be looking out for as far as second hand cars go...

Is there a second hand buyers guide that someone can point me in the direction of or if this does not exists can you please give me some advice as far as known problems go as I want to go into this purchase with my eyes open

Hopefully it will not be much longer before I find one!

Cheers

[stealth.pilot]

In addition to the usual used car buying tips, I would advise:
- get 2013 instead of 2012 because 2012 was year 1 of production and had some issues. Also 2013 has the new Nav
- if buying a manual have dealer check DME log for overrev history. Not an issue with DCT
- make the 140 point dealer inspection a condition of purchase
- watch out for rattles

[Stash21]

I would recommend.

- only buying one from bmw approved used.
- do a UK wide search as there are large price differences for similar age/ spec cars between locations/dealers.
- try and find one with the service inclusive pack.
- if what you are looking at is north if 50k. Look at new deals as there was/is deep discounts and 0% finance on new m cars. You might find the total cost if ownership is similar to a 2013 used.

[Neil McRae]

no manual in the UK so no over rev worries.

would agree on service pack.
big difference is sat nav system from late 62 plate i believe.

other than that the car is bullet proof. i would only buy through BMW dealer.

[N.S.A]

Originally Posted by Stash21

I would recommend.

- only buying one from bmw approved used.
- do a UK wide search as there are large price differences for similar age/ spec cars between locations/dealers.
- try and find one with the service inclusive pack.
- if what you are looking at is north if 50k. Look at new deals as there was/is deep discounts and 0% finance on new m cars. You might find the total cost if ownership is similar to a 2013 used.

wait you guys have 0% FINANCE on M cars in Europe?

[87ja]

Originally Posted by N.S.A

wait you guys have 0% FINANCE on M cars in Europe?

Yep over here bmw have been offering 0% finance as long as u put 10% deposit down this is the reason I went for a new car was working out not much dearer that a used one

[drbru]

Originally Posted by 87ja

Yep over here bmw have been offering 0% finance as long as u put 10% deposit down this is the reason I went for a new car was working out not much dearer that a used one

I heard about this 0% finance deal and it seems to be more financial sense if one is talking about the purcahse of a 1 year old car...

Im assuming (unless someone) tells me otherwise that it wont apply for say a 1-2 year old car...

My budget is between £45k-£50k so can I assume that the cost of ownership of a new m5 with all of the depreciation taking into account in this case will NOT be a better deal?

[Stash21]

You are right the 0% deal is only on new cars not used of any age.

Whether the cost of ownership is lower for new or 1 year old will largely depend on three factors.

1. Source of funding ( ie finance or cash)
2. The discount you can a achieve on a new car. I got a 9k discount this time last year.
3. How long you plan on keeping it.

[drbru]

Originally Posted by Stash21

You are right the 0% deal is only on new cars not used of any age.

Whether the cost of ownership is lower for new or 1 year old will largely depend on three factors.

1. Source of funding ( ie finance or cash)
2. The discount you can a achieve on a new car. I got a 9k discount this time last year.
3. How long you plan on keeping it.

1)I basically have a budget of 40-50k cash
2) No idea on the discount I can get but lets assume at least 5k
4) Id own the car for at least 3-5 years

[Stash21]

I think the difference in costs over 3 years would be similar.

Assuming you can get a similar deal on a new car I got. 75k car for 66k. Which after 3 years would have a gmfv of about 30k. You have a depreciation cost of 36k.

For 50k used you are looking at 1.5 to 2 years old. After another 3 years this is probably worth 20k. So around 30k depreciation. On top of which you have

1. Your personal funding costs. Say you are getting 2% ( adjust for your actual personal cost of funds) this is about 2.5k over 3 years.
2. You should buy the extended warranty and breakdown cover after its 3 years old. Say another 2.5k.

Assume all other costs between new and used are broadly equal. Then cost of new 36k versus used 35k.

[JOHNBMWM5]

I have been told Zero% deals are off the table at the moment, along with heavy discounts.

[M5essex]

no brainer.... go for new!
I think bmw dropped the 0% finance offer for M5s on pcp deals on the 1st Jan 14. now reverting to 4.9% apr and a £4k dealer contribution.
I got over £ 10K dealer contribution yesterday!

[dhirm5]

If you're planning to keep the car for a fixed period, consider leasing new. The combined payments on a fully loaded car will be well under your budget on a 3 year lease - assuming they have similar programs there as they do in the US.

[soooma]

Buy new
I lost more on used scars than new cars before
Wait till you have such a deal like 75k for 66k

[Dionysus]

Originally Posted by johnbmw6

I have been told Zero% deals are off the table at the moment, along with heavy discounts.

0% has indeed been dropped for 4.9%, however, the 'public' discounts for new M5 have been increased to £5.9K dealer + £4K BMW UK (that's the starting point of negations )

The real deal at the moment is M6GC (if you can live with the pre-LCI) with over £10K dealer & £18K BMW UK discount with 4.9% APR (again, as a starting point) - this actually works out cheaper that the GC 0% deal last year, i.e. only £3/4K more than an M5!

Fortunately, as the depreciation on these cars is so savage in UK, I can just about resist the temptation of jumping ship to M6GC

OP, (assuming cash purchase or APR <=4.9%), you are correct, used M5 will be lower TCO.

There were some post on Piston Heads last year about lease deals that worked out less than the predicted deprecation, however, I believe these are also no longer available.

[JOHNBMWM5]

Originally Posted by Dionysus

0% has indeed been dropped for 4.9%, however, the 'public' discounts for new M5 have been increased to £5.9K dealer + £4K BMW UK (that's the starting point of negations )

The real deal at the moment is M6GC (if you can live with the pre-LCI) with over £10K dealer & £18K BMW UK discount with 4.9% APR (again, as a starting point) - this actually works out cheaper that the GC 0% deal last year, i.e. only £3/4K more than an M5!

Fortunately, as the depreciation on these cars is so savage in UK, I can just about resist the temptation of jumping ship to M6GC

OP, (assuming cash purchase or APR <=4.9%), you are correct, used M5 will be lower TCO.

There were some post on Piston Heads last year about lease deals that worked out less than the predicted deprecation, however, I believe these are also no longer available.

Good information.

[Stash21]

Originally Posted by Dionysus

0% has indeed been dropped for 4.9%, however, the 'public' discounts for new M5 have been increased to 5.9K dealer + 4K BMW UK (that's the starting point of negations )

The real deal at the moment is M6GC (if you can live with the pre-LCI) with over 10K dealer & 18K BMW UK discount with 4.9% APR (again, as a starting point) - this actually works out cheaper that the GC 0% deal last year, i.e. only 3/4K more than an M5!

Fortunately, as the depreciation on these cars is so savage in UK, I can just about resist the temptation of jumping ship to M6GC

OP, (assuming cash purchase or APR &lt;=4.9%), you are correct, used M5 will be lower TCO.

There were some post on Piston Heads last year about lease deals that worked out less than the predicted deprecation, however, I believe these are also no longer available.

28k off is an awesome deal.

[Butty45]

Originally Posted by johnbmw6

I have been told Zero% deals are off the table at the moment, along with heavy discounts.

That's a shame. I ordered a brand new M5 in Dec. got 0% plus an all in discount of 13.5k. I.e an 80k list for 67.5k. Looking like i got a goid deal!

[JOHNBMWM5]

Originally Posted by Butty45

That's a shame. I ordered a brand new M5 in Dec. got 0% plus an all in discount of 13.5k. I.e an 80k list for 67.5k. Looking like i got a goid deal!

Yep you did.

[bimmer-boy]

Originally Posted by Stash21

You are right the 0% deal is only on new cars not used of any age.

Whether the cost of ownership is lower for new or 1 year old will largely depend on three factors.

1. Source of funding ( ie finance or cash)
2. The discount you can a achieve on a new car. I got a 9k discount this time last year.
3. How long you plan on keeping it.

Was your 9k discount including dealer contribution?

[Stash21]

Originally Posted by bimmer-boy

Was your 9k discount including dealer contribution?

Yes it was the total discount.