+ Reply to Thread
Results 1 to 9 of 9
  1. #1
    Mike328i
    Guest
    Location
    , ,
    Member No: Mike328i's Avatar


    Yes | No

    Considering an M5 - Need some opinions

    Hi guys
    I'm resident on the e36 3-series forum and am considering a jump from a 96 328i sedan to an e34 m5. I've been searching and found a few to consider. I see an offer for a 91 M5 with 10K miles (do such cars exist with such low miles?) and the guy supposedly is asking mid 13K. Kelly blue book value is around 10K. Do you guys think its a good deal if its true? Are the 91 M5's known for any severe problems or things that I should look out for?

    Any input is much appreciated

    Thanks

    Mike


  2. #2
    KJK
    Guest
    Location
    , ,
    Member No: KJK's Avatar


    Yes | No

    Re: Considering an M5 - Need some opinions

    Please do a search of this forum--tons of post. Also, www.bmwe34m5.com FAQ.

    That one sounds too good to be true and I would almost worry about a car with such low mileage.

    Kevin
    '91 M5 227k and counting

  3. #3
    Joe User
    Guest
    Location
    , ,
    Member No: Joe User's Avatar


    Yes | No

    No such thing as a 10K M5 for $10K

    More than likely the ad was intentially listed at 10K when it really has 100K. The good news is you have already determined the seller mis-represents.

  4. #4
    gmack
    Guest
    Location
    , ,
    Member No: gmack's Avatar


    Yes | No

    Re: Considering an M5 - Need some opinions

    I too am considering buying a '91 M5. The one I'm looking at is Blk on Blk, has the orig aero wheels in black along with a Dinan chip, has 157k mi. and is need of new paint (roof is faded) but the interior is clean. The guy is asking $11k but I'm fairly confident I could low ball him to $10k.

    My question is twofold:

    1) I'd like to hear your general thoughts on the price, assuming it checks out ok with my local BMW mech.

    2) At what point do you guys think these cars will start appreciating instead of depreciating? I ask this because I stumbled into this car while looking at an '83 911 SC w/190k mi for $17k. This disparity in pricing/value just doesn't seem right when you consider production volumes (probably the same or less for the M5) and performance (once again, probably the same). I know I'm preaching to the choir here, but I'm interested to hear your thoughts on the collectibility of 2nd gen (i.e., E34) M5's.

    Thanks in advance for your thoughts.

    gmack

  5. #5
    Registered Member
    Location
    , ,
    Member No: 108417 blackshiftM5 is an unknown quantity at this point blackshiftM5's Avatar
    Join Date
    Jun 2004
    Posts
    15
    Rep Power
    0


    Yes | No

    Re: Considering an M5 - Need some opinions

    honestly, even $10k sounds a little high to me. If the car passes a PP inspection, has good compression, and a service history, then it's probably worth it. but that car is about 50k miles away from needing an engine rebuild and that'll be at least $10k. Are you really going to drop that kind of money into a car that has bad paint and needs all sorts of drivetrain and suspension parts replaced by then? a good paint job costs >$5k here in CA.

    As for appreciation, we might see a bump when the E60 M5 comes out, but don't bet on it. E39 prices will surely tumble tho. rarity helps the E34 (about 1/6 as many sold here as E39) but there just isn't much demand. (I'm no expert, but probably fewer than the 911 per year. I looked hard at 911SCs about 5 years ago and they were more like low teens, IIRC.) Ours is an awesome car, but it's never going to cause a real stir. There's a reason it's a sleeper...

    Not to insult, but if you're looking to spend $10k or less, you're better off looking elsewhere. I'm sure most of us ended up dropping at least $1-2k the first month or two that we owned the car. PPI, new tires, plugs, water pump is all it takes. If you can afford to spend more, you'll be glad you did. For $15k you should be able to find a great car from one of the enthusiasts online, probably with ~120k miles. More importantly, the car will have a service history and no major faults. There's no reason to settle and buy quickly, there are a lot of people online who's cars are for sale, they just can't find a serious buyer.

    good luck,

    Eric Lee
    91 M5

  6. #6
    gmack
    Guest
    Location
    , ,
    Member No: gmack's Avatar


    Yes | No

    Re: Considering an M5 - Need some opinions

    I agree with your points re: getting what I pay for. However, my thought process was more along the lines of buying in at the bottom of this model's market value and then investing the $$$ necessary to bring this car to its original condition, including a respray and possible rebuild.

    The real question I need to resolve is this: Will the market of E34 M5's continue to decline, making any investments in a rebuild or a paint job financially inadvisable?

    FWIW, the car is black and appears to be clean aside from the faded paint and has realtively new tires with the orginal body colored turbine rims. Like yours, it's a '91. Here's a link to the seller's web site for the car: http://www.crazysauce.com/m5/

    Any additional thoughts you might have would be appreciated.

    thx

    gmack

  7. #7
    Registered Member
    Location
    , ,
    Member No: 108417 blackshiftM5 is an unknown quantity at this point blackshiftM5's Avatar
    Join Date
    Jun 2004
    Posts
    15
    Rep Power
    0


    Yes | No

    Re: Considering an M5 - Need some opinions

    the car looks good. Door delamination looks minor, but it's usually worse at the back doors. Paint doesn't look that bad, unless there's some fading on the roof that I can't see. lots of rock chips, but that's not a big deal. The front spoiler looks healthy, which is good because they're no longer available for 91s. seats look as good as my 98k mile car. I don't think the turbines ever came body-colored from the factory.

    The car looks like it was well taken care of and should have at least some history if it's private party. See how the inspection comes out. Get a leakdown test if at all possible. Compression only looks at half the story (rings, but not valves, or something like that). Look for suspension bushings, control arms. SLS still present? If so, check accumulators: shocks will weep grease/oil and ride will be very bouncy. (ask me how I know...) have the front shocks been replaced? A/C (R12), error codes, O2 sensor, exhaust, clutch, transmission noise/synchros, electrics. when was water pump replaced? t-stat?

    Mileage is the biggest issue: lots of E34 M5s exist in the 80-130k range. but if the engine checks out well, then it might not matter.

    as for values, I think the market is still dropping (your seller is an example of this). I don't think they'll go much farther, but who can say? As more cars get to the 150k+ mileage or are wrecked/parted, the low mileage and/or premium condition cars will separate from the rest. Rarity will help, I hope.

    Eric

  8. #8
    Registered Member
    Location
    , ,
    Member No: 125455 m8powr is an unknown quantity at this point m8powr's Avatar
    Join Date
    May 2005
    Posts
    1,108
    Rep Power
    0


    Yes | No

    also considering an M5

    looked on the E34 website, found out great information.

    the one im interested in is a 1993 M5 blk/blk with 40k miles. he wants $24k for it, can get it for less. i will get the chassis # to find more info on it. any suggestions? problems? ideas?

    thanks all-Cort (San Diego, CA)
    1992 850i (6-speed) - Calypso Red
    E34 M5 ON ITS WAY NEXT!! - Black? Blue?
    1976 Pontiac Firebird Esprit - White

  9. #9
    Eric
    Guest
    Location
    , ,
    Member No: Eric's Avatar


    Yes | No

    Re: also considering an M5

    that is certainly a low mileage car. first off, confirm it with carfax (for what that's worth). if so, then the car should be nearly perfect, inside/out, cosmetically/mechanically. If not, the low mileage might not be as great as you think - the car was probably sitting for long periods of time, and so the seals had many chances to dry out and could leak more than 100k mile car.

    I would say it's worth low-$20s. Sure, the 93 cars are rarer, but for $25 you could buy a Euro 3.8, which would be a whole lot rarer. black/black is also the most common color for US cars. (but looks great on mine.)

    Eric
    91 M5

+ Reply to Thread


Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

     

Bookmarks

Posting Permissions

  • You may post new threads
  • You may post replies
  • You may not post attachments
  • You may not edit your posts
1e2 Forum