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      02-25-2010, 01:29 PM   #1
markymarc1979
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Looking for some opinions

So I love my M3 to death, but looking to add another BMW to the family. I really like the last generation 7 series and found this one in a private sale.

http://toronto.kijiji.ca/c-cars-vehi...AdIdZ187673947

I think I can get the guy down to $17k.

what do you guys think? Is this a bad move?
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      02-25-2010, 03:33 PM   #2
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If you want it and it passes a proper mechanical inspection, why not!!!


I can't believe how the prices for those have come down since new.....
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      02-25-2010, 04:00 PM   #3
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Quote:
Originally Posted by schnell325 View Post
If you want it and it passes a proper mechanical inspection, why not!!!


I can't believe how the prices for those have come down since new.....
Maybe they are a huge liability for parts and repairs once they hit a certain age?
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      02-25-2010, 04:30 PM   #4
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seems to be priced suspiciously low...
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      02-25-2010, 04:41 PM   #5
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Not really. I ran a black book search on a vehicle. Check out the results.

Supplied by :
Canadian Black Book
7800 Woodbine Ave.
Markham, ON
(905) 477-0343 Valid until : March 1, 2010
Your trade-in estimate based on :

Vehicle : 2002 BMW 7 Series 745i 4D Sedan
Distance travelled : 120500
Options :

Low : $8,963

High : $14,188
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      02-25-2010, 05:44 PM   #6
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From what I recall, these cars had a lot of electronic "gremlins." I would carefully check out the reliability ratings before moving ahead. I once had a 7 series and around 100k everything started to go wrong. Repairing these cars is very expensive...
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      02-25-2010, 05:47 PM   #7
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Too old - I would buy something much newer
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      02-25-2010, 05:50 PM   #8
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well it's rear wheel drive so keep that in mid (you do live in Toronto)
I've heard that the 7 series have problems. Do you research call dealers and ask, and read post and threads on how the service is. You wan't to buy a car that's going to be a problem.
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      02-25-2010, 06:33 PM   #9
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Quote:
Originally Posted by markymarc1979 View Post
Maybe they are a huge liability for parts and repairs once they hit a certain age?
As another member mentioned, certainly a major thought to consider.
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      02-25-2010, 06:35 PM   #10
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Early 7's of that Model where real bad news electronicly.Also remember that you are buying parts and repairing a car that was $110000 new and the parts are based on that price not the price you are paying today for a 9 year old one.I say stay away!
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      02-25-2010, 06:53 PM   #11
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Quote:
Originally Posted by markymarc1979 View Post
So I love my M3 to death, but looking to add another BMW to the family. I really like the last generation 7 series and found this one in a private sale.

http://toronto.kijiji.ca/c-cars-vehi...AdIdZ187673947

I think I can get the guy down to $17k.

what do you guys think? Is this a bad move?
I already gave you my honest opinion on this in the past!

The 745's all of them from 02-05 had major engine problems, electrical, tranny issues! Not just me but various friends and family I know went through this!
We had a 2002 745Li, that spent over 80% of its time in the workshop, with the engine, tranny, Differential, Suspension, Electrical Components all being changed on thar car. I sold that years ago, as I couldnt imagine the horror of owning the 745 after warranty ended!
The 760 has been really good to me so far (knocks on wood )
Why do you think BMW extended the factory warranty on 2002/2003 7 series? To retain customer loyalty, because of the problems with the V8s!

I would never touch a preowned 745 without warranty, despite the warranty I would chose the 06-750 or go for the 760 as its a V12, different car, engine from the 745.

Last edited by M3 vert; 02-25-2010 at 07:02 PM.
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      02-25-2010, 09:40 PM   #12
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Thanks for the great feedback. Will definitely stay away from this one. This weekend I'm going to test drive a 2006 with 51k on it.

Last edited by markymarc1979; 02-25-2010 at 11:19 PM.
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      02-25-2010, 11:30 PM   #13
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Quote:
Originally Posted by M3 vert View Post
I already gave you my honest opinion on this in the past!

The 745's all of them from 02-05 had major engine problems, electrical, tranny issues! Not just me but various friends and family I know went through this!
We had a 2002 745Li, that spent over 80% of its time in the workshop, with the engine, tranny, Differential, Suspension, Electrical Components all being changed on thar car. I sold that years ago, as I couldnt imagine the horror of owning the 745 after warranty ended!
The 760 has been really good to me so far (knocks on wood )
Why do you think BMW extended the factory warranty on 2002/2003 7 series? To retain customer loyalty, because of the problems with the V8s!

I would never touch a preowned 745 without warranty, despite the warranty I would chose the 06-750 or go for the 760 as its a V12, different car, engine from the 745.
Similar experience! I would look at the LCIs
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      02-26-2010, 03:42 AM   #14
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Quote:
Originally Posted by markymarc1979 View Post
Thanks for the great feedback. Will definitely stay away from this one. This weekend I'm going to test drive a 2006 with 51k on it.
Good Luck, im assuming its a 750?
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      02-26-2010, 01:38 PM   #15
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Quote:
Originally Posted by markymarc1979 View Post
So I love my M3 to death, but looking to add another BMW to the family. I really like the last generation 7 series and found this one in a private sale.

http://toronto.kijiji.ca/c-cars-vehi...AdIdZ187673947

I think I can get the guy down to $17k.

what do you guys think? Is this a bad move?
I agree with Gearhead999, stay away from the early years. If you really want a 7 in the previous generation, i'd go for ones that are post-LCI.

-DK
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      02-27-2010, 10:23 AM   #16
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I'm checking BMW's pre-owned inventory for several 2006 models.
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      02-27-2010, 10:26 AM   #17
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Good Luck, im assuming its a 750?
Was going to check out this one, but it sold

http://www.autotrader.ca/used_cars_C...ributes=photos,,

Amazing deal. I'm looking for wholesale pricing. One of my clients owns a used car dealership and will help me get one for wholesale.
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      02-27-2010, 11:44 AM   #18
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With the cost and complexity of repairs on these cars you would be much better off to buy a CPO from a dealer so you get a proper BMW warranty.Yes its more money but in the big picture is it really that much more?
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      02-27-2010, 11:48 AM   #19
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With the cost and complexity of repairs on these cars you would be much better off to buy a CPO from a dealer so you get a proper BMW warranty.Yes its more money but in the big picture is it really that much more?
I've seen the markups the actual BMW dealer charges on used. anywhere from 5k-7k. My client is going to buy a CPO car from a BMW dealer at wholesale and sell it to me. THE CPO warranty should be transfered over to me.

Last edited by markymarc1979; 02-27-2010 at 11:58 AM.
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      02-27-2010, 03:58 PM   #20
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Quote:
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I've seen the markups the actual BMW dealer charges on used. anywhere from 5k-7k. My client is going to buy a CPO car from a BMW dealer at wholesale and sell it to me. THE CPO warranty should be transfered over to me.
Yes that would be a smart move!

Look for some private sales as well, some people are orginal owners or second owners and have kept up with all service and maintenance requirements, and hence maybe another option as well!

Just avoid 745s, but 750s (V8) and 760s (V12) are different cars with different engines and should serve you well!

Good Luck!

Here are a few 760's too, it feels faster then the M

http://www.autotrader.ca/result/resu...ideoonly=False
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      02-27-2010, 04:14 PM   #21
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Or these Alpina B7s

http://www.autotrader.ca/result/resu...nlabel=Ontario
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      02-27-2010, 05:23 PM   #22
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OH BABY!!!! 186 mph governed!!
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