hc115

Hi everyone! Name's Henry, new to this forum.

Little background: I currently drive a 2000 323i(Steel Gray, BBS style 5's, projector46s) and will be joining the 5-series family within the next week or two. I'm currently finishing up school at UCSB, majoring in Economics and Accounting and deciding on taking a 5th year to double major in Financial Mathematics and study for the CFA. I've been pretty keen on buying an 01-02 E39 M5 but today I test drove a 2006 550i and am now torn between these two cars. I will be test driving the M5 tomorrow.

On to the cars...both cars are priced at 23k.

2001 m5 - 44k miles, haven't looked at the carfax yet, however everything seems to be in great shape(garage queen? I read that's not good for the m5, carbon buildup?). The only thing I saw wrong with the car was the front grilles being loose, some haziness on the driver-side headlight, and the car wouldn't start the first time I went to look at it; dealer said it was the battery so I told him I'll come back next time(tomorrow). The interior is CLEAN and the exterior too.

2006 550i - 90k miles, 1 owner, Carfax showed all maintenance done at Irvine and McKenna BMW up to 89,477 miles(prob extended warranty, 100k). Partial break job done? Didnt see anything about front brakes being replaced...the rear were serviced, brake pads replaced, ignition system checked, and states maintenance inspection completed(checked but not serviced?). Comes with standard seats, navi, bt, yada-yada...no sports package I guess? :thumbsdown: But I test drove the car today and wow, omg, so SMOOOOTH! I know that's a lot of milage for a 2006 but it seems all the maintenance was done at the stealership, so I'm not too concerned right now.

I know at the end, it'll come down to which car I'm happier with driving, hence me still needing to test drive the m5. However, I'd still like to hear some feedback on what you fellow 5 owners think about my choices. I'm not going to be spending more than 25k while I'm still in school--my little brother totaled his car and I'm selling him my 3.

The E39 M5 is still beautiful-although a little outdated or oldschool if you wish to call it, but I also love the styling of the E60 as well. M5's insurance will probably be a lot higher than the 550i and gas, well, they're both gas guzzlers!
I'm kind of leaning towards the 550i right now, I hope the M5 makes a good impression on me when I test drive it tomorrow.

Oh and of course, which ever car I decide on wanting, I'll be doing a PPI prior to purchase.

What do you guys think?

turboawd

i'd get the 550.
the e39 looks dated.

healthservices

I'd shop around there are deals out there, you just have to be patient.

EuroCarFan

Both cars are great but I think I'd pick the M5. It's an M5!!

A good friend an forum member, Torquey5 had a 550 and returned it after the lease ended and recently picked up an E39 M5. It's an older car but I wouldn't say it's dated, I'd say it's a classic.

Whatever car you pick, keep an eye on the Meet & Greet Discussion subforum cause I'm going to plan a meet in San Luis Obispo in a couple months and you are most welcomed to join.

rctmthouse

I would go with the '06 550; actually I was in a similar situation as you are right now not that long ago. Was always a big fan of the old M5 model when it first came out but after careful consideration, I got the '06 550 instead.

BTW, I think you can get a lower mileage '06 550 for 23K nowadays.

Good luck!

bens1088

I'm finishing up at ucsb too. I'd get the 550 but try and find something with lower miles. Cars in SB are more expensive than the bay area or la for some reason. What's your budget?

hc115

Yea, cars in the SB area are sure overvalued, but I guess everyone who lives there can afford the premium. I'm actually looking for cars around the Los Angeles/Orange County area. My budget, I'd like to keep it under 25k.

I've seen better deals on ebay but I haven't warmed up to the idea of buying a car on ebay, without having physically seeing it in person. Then again, I am probably rushing myself a little because I would like to get this done before the end of the month, so my little brother can have my car, and I can go back to UCSB without having to worry about driving back down to LA and whatnot.

I'll be sure to keep an eye on the Meet & Greet Discussion.

My search continues...

corey

Can't really go wrong with either. Just weigh your options and budget, as the additional costs for insurance and gas on the M5 could add up. Welcome to the forum

hc115

Test drive on the M5 is a no go. :thumbsdown:
Called the Dealer to see if the car was available and the guy said that there's a pending deal and to check back Thursday...
Guess it wasn't meant to be.

Oh, and I found a 2007 Jet Black 550i 70k miles w/ extended warranty up until 100k or 7/12, priced at 24k! Time to put down a deposit!

khooger

Good choice