Been lurking for a while now and I'm almost ready to pull the trigger on an 08 550. I saw some auction prices online and I'm pretty sure the dealer purchased the car at auction and it was listed as "below average" condition.

I was planning on getting a 4yr/100k warranty on it and I have a mechanic doing a thorough pre-purchase inspection on Saturday. That car has 49,500 mi on it but it's exactly what I want at a fair price of 33k plus the 3k warranty. Should I run or is a below average car not the end of the world if it passes the inspection and I have a decent warranty?

What exactly makes a car below average at auction anyways?

Thanks in advance for the help.

 

I have no experiance with the 550 but they do seem to have sevaral common issues. I you know allready that the car is in not to good condition, I would walk away, even with the extended warranty...

Not all dealers are easy on repairing stuff, even under warranty, so you can expect some serious hassle if your dealer does not work with you... not the mention the dissapointment of having to bring in a 36k car in for repairs every time.

Because of the many complex issues, including many potential electronic stuff, working on the car yourself is almost impossible..

So to be short..if the price is low comparing to "normal" condition car and you feel like your saving a ton of many, maybe the gamble is worth it...otherwise look around some more..

 

Don't do it. Trust me. I have been to dozens of auctions, and the cars there are usually pretty beat up to begin with...to get a below average rating, the car must be pretty damn bad...your asking for trouble in the future....the maintenance on that car was probably never on timer either...

 

I have to agree with Krozi, don't do it. Below average @ $30K plus... sounds like a trap.

Also if you find a used E60, get the vehicle history directly from BMW, (either your friendly dealer, or the previous owner) will be able to give you the 411 on the car. This way you can tell if you're walking into an "Electrical" or "Mechanical" nightmare. This only works for cars that had less than 50K miles, or had the extended warranty/maintenance plan.

Nice thing about BMW's is you can get the real scoop before you take the plunge!

Good luck and post pics of your new ride once you get it.

 

Thanks for the advice. I love the car, guess its too good to be true at that price though. I'm going to contact the local BMW dealer and see if they can run the VIN for me like you suggested. See what the problems might be. I test drove the car a week ago and there was nothing that stood out. Maybe my mechanics inspection tomorrow will turn something up. Wonder how I can contact the previous owner. That would be perfect but I'm buying it from a used car lot.

 

Remember for some reason if your dealer cannot give you the "service records" there is nothing stopping them from reading the service history out to you! The easiest answer in some case's I've heard include "Oh they have to protect the customer's identity so they cannot release that info". If that comes up, just request them to read out the history specifics.

Once you purchase the right car, they will be able to give you a print-out of exactly what was ever done to the car (only work done by the dealer).

 

I just got off the phone with BMW. Nothing unusual came up. It was serviced regularly, it did have some minor work done, replaced a headlight lamp, cabin filter, and a seat sensor. But no major electrical or mechanical problems based on BMWs info. It had 5 maintenance inspections and the manufacturers recommended maintenance was performed 3 times.

 

Well, if the car seems ok on the surface, then you should question why it's being rated below average. Is it based on mileage or something else? Has it been any accident and not reported? I'd be very skeptic about it and be prepared to walk away. Don't fall in love with it until you know for sure. GL

 

The low ratings may be due to the fact that it has 50k miles and its only about 2 years old. May be a perfectly good car. I say keep looking, you can find a lower mileage beauty and the extra money will be well worth it.

 

Seems worth it to at least get this pre-purchase inspection done. Its $180 and I'll get a full diagnostic report on everything. They will see if any repair work that hasnt been reported has been competed etc. The dealer had it fully detailed so it looks great on the outside.

I'm not afraid of the mileage. As my mechanic said, there are great high mileage cars and there are terrible low mileage cars out there. It all depends. If I can get this car for $5k less with a 100k warranty maybe its worth it. The warranty is through Continental Warranty Inc. they got good reviews from my local BMW dealer. They work direct with them on payment and rental car etc.

I havent gotten the absolute confirmation that it was below average but I saw auction prices listed for 08 550s in another BMW forum and every car in this price range was listed as "below" so I am assuming. I might just call out the uised car dealer and ask him why its below average...