760Li for $44k?

[BayMoWe335]

Found an 06 BMW 760Li with 31k miles for $44k.

Given they are $150+ new, what do you think about this deal?

Yikes on the depreciation, but would you ever own one used?

V12...

[MikeS '06 330i]

These used high end BMW's are the best kept secret IF you can wrench a little yourself. My car before the 330i was a 1990 750iL. New it was just under $80K in 1990. I paid $8K in 2005, and it had a new long block. Previous owner put over $20K into it. Even with doing much of the maintenance myself, the average cost to maintain was $1K annual. Still a pretty good deal, but if you have to take it to the dealer for every little thing, you better have deep pockets. I got tons of info of these forums for repairs, and buy yourself a Bently repair manual....

[BayMoWe335]

I wouldn't get it personally, but man...$100k depreciation in 5 years and 30k miles.

[username604]

It depreciated for a reason. I'd say that that car is probably worth something around 44k.

[kirillbmw]

something does not add up MAKE sure the mileage has not been tampered with (not sure how you can find that out) check car fax and make sure the car has not been hit even though not everything goes on car fax. You can check the color of the paint if its been repainted or not in some places , so make sure you check it out during day time. If everything checks out JUMP on it right away it is a very good deal!!

[AlexC]

damn, that's cheap...

if we get this price in China, then i would get it in a heart beat... you don't how much it will cost in China.

[yakev724]

Not very surprising, just take a look at E60 M5 prices, it's a similar story.

Overall cost of ownership is still high, though. Problem with maintenance of these cars is it's far from just 'wrenching' but computer system issues so complicated you'd need a CS degree to consider working on them...

[Jeff@TopGearSolutions]

All those big high end cars depreciate like that.

Take a look at the XJ jaguars for like 07 08. Or the S class benz. They all have the worst depreciation of any vehicles. Losing 50%+ of its value in 5 years.

Best cars to buy used from a "great deal" standpoint, worst investment new.

[Deltari09]

reminds me of the '91 850ci i got in '94 for 48K, was 80K+ when new. but in your case with such a modern car that almost seems too good. hopefully its not a turkey

[BayMoWe335]

Originally Posted by Jeff@topgearsolutions

All those big high end cars depreciate like that.

Take a look at the XJ jaguars for like 07 08. Or the S class benz. They all have the worst depreciation of any vehicles. Losing 50%+ of its value in 5 years.

Best cars to buy used from a "great deal" standpoint, worst investment new.

Yeah...this lost like way more than 50% and I still think it has some good years left in it.

Are there many changes from 2006 to 2011 as far as features? And I assume most stuff was standard on the 760?

[LuisBoston]

Most cars lose 50% in 3 years. So that's already down to 75K in 2009. It's two years later, out of warranty, and a bitch to fix. So yeah, I'd say 44K is right, if not a bit high.

[korr]

Originally Posted by AlexC

damn, that's cheap...

if we get this price in China, then i would get it in a heart beat... you don't how much it will cost in China.

ha, for that price you get yourself a 320i or c200, a4 in china ^^

[Gripster]

Mercedes CL-class is what you want in that price range. Their early depreciation is eye-wateringly bad at 50-60% over 3-years. Available with a V12 and extremely rare.

I think these used luxury cars represent bargains if you can find a well maintained versions and accept that repairs are going to be like a car payment on a cheaper new car.

Re: the 760Li - Pay for a pre-purchase inspection by a good indy mechanic who knows these cars. Sounds like a hell of a car for the money.

[fdriller9]

No I would never buy any used BMW. My father just turned in an '05 745i with 95k for a new XJ.

The dealer said don't worry about the failing water pump and the transmission errors......

I guess they'll fix it but how well?

Is it CPO'd?

[username604]

I heard from a friend that her dad's new xj is in the shop weekly and he's looking to sell it now.

[Delta0311]

$44k for a 06 760LI with only 31k miles; yeah ok!!! Dude turn around and slowly walk away.
I can bet there is something wrong with that car. When you got 30k miles 335's selling for around $30k there is NO WAY that a 760 with 31k miles will sell for $44k unless there is a problem with that car.

[gary88]

I wouldn't want one out of warranty. Remember you're still paying to maintain a $150k+ car despite only paying a third of that.

[fdriller9]

Originally Posted by davidkneiber

I heard from a friend that her dad's new xj is in the shop weekly and he's looking to sell it now.

That's not good to hear....my father has had it for a week. He loves it but we'll see how to holds up I guess.

[Php]

Originally Posted by Delta0311

$44k for a 06 760LI with only 31k miles; yeah ok!!! Dude turn around and slowly walk away.
I can bet there is something wrong with that car. When you got 30k miles 335's selling for around $30k there is NO WAY that a 760 with 31k miles will sell for $44k unless there is a problem with that car.

you can't just compare it that way though, it doesn't work. $44k sounds about right, or might be a bit high since out of warranty.

My friend bought his '07 750i for $35k spring of 2010. Mileage was about the same at 31k miles. His car was $85k brand new in 07. So $50k (over 50%)gone in 3 years. Plus his car still had a year of original warranty left when he got it. No problems so far after a year. It was pretty clean.

[Nalod]

Go get a maintence schedule and cost estimates.

Also don't forget current price of gasoline.

Check a carfax naturally.

Seems a bit cheap but these cars are very hard to sell used because of running costs. 12 cyl engine! Double parts of a 6!

I looked a few years ago and Phaetom's were selling crazy cheap but I decided I really did not want a big ass car even though they are so nice to drive. Running costs just kind of mess with my value system on what I put a price on.

Everyone I know who got a 7 series was happy when they got rid of them because of the issue of cost and repair. Great car though!

[rhodesman]

Originally Posted by BayMoWe335

Found an 06 BMW 760Li with 31k miles for $44k.

Given they are $150+ new, what do you think about this deal?

Yikes on the depreciation, but would you ever own one used?

V12...

I too would jump on a V12 BUT just FYI, with only JB4, I blew the doors off a 760Li this weekend. Guy kept trying, but that V12 just couldn't get past the weight of that beast.

However the 7 series is a damn fine luxury automobile.

[mikracer]

Originally Posted by Gripster

Mercedes CL-class is what you want in that price range. Their early depreciation is eye-wateringly bad at 50-60% over 3-years. Available with a V12 and extremely rare.

I think these used luxury cars represent bargains if you can find a well maintained versions and accept that repairs are going to be like a car payment on a cheaper new car.

Re: the 760Li - Pay for a pre-purchase inspection by a good indy mechanic who knows these cars. Sounds like a hell of a car for the money.

In 2006, I bought a 2003 CL600. Sticker on it was $180k and I bought it for less than $50k. The high end cars depreciate like crazy in the first couple of years. But when you buy a car that came with a high sticker price, the maintenance and repair price reflects the original sticker price, not the current value. When buying a V12, you have 12-24 spark plugs, lots of oil, and lots of stuff to take off to get to the other maintenance items...in short, it costs a lot to maintain.