"Party-vi" (party-vi)
02/21/2014 at 15:34 • Filed to: NPOCP, E39 M5, oppositelock
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"Party-vi" (party-vi)
02/21/2014 at 15:34 • Filed to: NPOCP, E39 M5, oppositelock | 1
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OFFROADKARTER's post below led me to a search on my local CL !!!error: Indecipherable SUB-paragraph formatting!!! . With only 39,000 miles one can see why the seller is asking $22,500 (just $400 off !!!error: Indecipherable SUB-paragraph formatting!!! ), but it does carry a "reconstructed" title due to a previous rear-end collision.
Is low mileage a trade-off for a previously wrecked M5? You decide.
Brian Silvestro
> Party-vi
02/21/2014 at 15:35 |
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Haha, No!
You can get a clean-titled one for half that!
rb1971 ARGQF+CayenneTurbo+E9+328GTS+R90S
> Party-vi
02/21/2014 at 15:37 |
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CP. I paid $20k for a nice (if higher mileage) E39 M5 several years ago. No salvage title.
offroadkarter
> Party-vi
02/21/2014 at 15:39 |
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That is one of the best M5 colors for sure, but price = / = title status
Jagvar
> Party-vi
02/21/2014 at 15:40 |
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Not the best price out there, especially if it's had body damage.
This 2000 with 58K miles for $16,900 is a better deal, IMHO.
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Party-vi
> Jagvar
02/21/2014 at 15:44 |
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Ooooooooh
N51fanatic
> Party-vi
02/21/2014 at 15:46 |
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CP
It's a "Porch-uh"
> Party-vi
02/21/2014 at 16:14 |
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Hmm, tough to say if the low mileage offsets the salvage title.
I got my 2003 with 100K miles, that had never been in an accident and was near-perfect for $14,500. Same color too (LeMans Blue is the best blue).
When I was shopping, I saw a clean 2003 with 65K miles for $24K.
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It's a "Porch-uh"
> Party-vi
02/21/2014 at 16:15 |
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Except you'll want 2001+ (manufacture date over 9/2000), with the updates BMW made to the engine, software, and interior.
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Party-vi
> It's a "Porch-uh"
02/21/2014 at 16:18 |
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That sounds like a screaming deal you got!
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It's a "Porch-uh"
> Party-vi
02/21/2014 at 16:27 |
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I walked into it thinking he wanted $17K. No problem, but I brought a cashiers check for $14K and $3K in cash so I had some negotiating room. I get there, drive it, look it over thoroughly, and find two little dents. Before I say anything about the price, he says, "I know I mentioned $15K for it, but I didn't notice those dents you did."
"I'll give you $14,500."
"Deal."
A friend of his posted it on M5 Board for him, listing it at $17K without really talking to him about it. Best part was that I got to tell my wife that I talked him down from $17K, which I remind her after the $900 repair bill I just got.
AM3R
> Party-vi
02/21/2014 at 16:54 |
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CP. $22k gets you a showroom condition ~50k mile enthusiast owned car for sale on m5board. Lemans blue is my FAVORITE though, and a lemans blue E39 M5 is probably the car I'd spend more than i budgeted for haha.
Manuél Ferrari
> Brian Silvestro
02/21/2014 at 17:02 |
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Your answer surprised me since you don't like the E39 M5. I thought you would have said "CP - because not E34"
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Manuél Ferrari
> Party-vi
02/21/2014 at 17:05 |
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I don't know what to think of salvage title prices in general. Is there a standard discount that should be applied to salvage title cars, so that you can see if the price is fair?
I always thought that a salvage title car should be much cheaper than an identical car that had a clean title to be worth it. Even if you're confident that the car was repaired properly and drives just as good as a car that wasn't in an accident you will still have trouble selling the car in the future.
Personally I wouldn't consider a salvage title car unless it was at least 35% cheaper than the going market rate for an identical car with a clean title.
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Party-vi
> Manuél Ferrari
02/21/2014 at 17:10 |
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I agree. I wouldn't have a salvage or repair title unless it was a heck of a deal, the repairs were perfect with OE parts and I wasn't planning on selling it anytime.
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Manuél Ferrari
> Party-vi
02/21/2014 at 17:22 |
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Yeah you definitely need to be a position where you don't anticipate having to sell it anytime soon. And the good thing about getting a great deal is that you will still have a shot of selling it without losing your shirt if something happens in your life that forces you to sell it.
Speaking of salvage titles look at this CP!
http://www.autotrader.com/cars-for-sale/…
"Runs but Does not Drive. Salvage Title."
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Brian Silvestro
> Manuél Ferrari
02/21/2014 at 17:39 |
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That too!
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Party-vi
> Manuél Ferrari
02/21/2014 at 21:05 |
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haha $80k for a wrecked California. Definite CP.
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Manuél Ferrari
> Party-vi
02/21/2014 at 21:10 |
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Isn't it hilarious!
Most of us wouldn't pay $150K for a used California that had a clean title even if someone handed us a check for $150K and said we could use it for any car, but that we'd get an extra $15K bonus check if we purchased a California. We'd still forego that $15K and buy something else.
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Party-vi
> Manuél Ferrari
02/21/2014 at 21:15 |
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I'd get a California with a manual, since they apparently only made two and they were the last Ferrari cars ever to have a manual transmission.
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Manuél Ferrari
> Party-vi
02/21/2014 at 21:29 |
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That would be awesome. I'd rather have a 599 6MT even though there were more than 2 made with a manual. But I'd still buy the California manual if an opportunity came up to buy it and I could afford it. Unless it was already super marked up...
JasonStern911
> Party-vi
02/21/2014 at 23:49 |
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crackpipe. the only way I would ever own a salvage title car is if:
1. I owned the car when whatever branded the title happened, I had a sentimental attachment to the car, and I oversaw the restoration.
2. I was dead broke and the car was under $2k.