What would you do? M5 for M3.....?

Zoli007 · 10-23-2008, 05:53 PM

Ok so Im sure these types of threads are annoying as hell, but I'd like to think this is a little bit different.

I currently have a 2003 E39 M5 with only 37k miles on it. Im married. My wife and I work in the same place, we go basically everywhere together and we are together 99.9% of the time. The only time we ever need another car is the extremely rare occurrence where I need to be somewhere she doesn't or visa versa.

I love my M5, it was always my absolute dream car. I've driven the new M3 and I love that car too, would love to have one. The plan was to sell my car (which is paid for) and put the money we get from it as downpayment on the new M3 and get another car for a cheap beater to either daily drive (when gas was getting to almost $5) or to just have in case we need a second car. The market for the M5 has absolutely taken a huge dump. I bought my car 2 years ago with 10k miles for $52k which for then was a great deal. Everything else in that condition was $5k more at least.

I will be happy to get $30-32k for it now..... So I had thought up, what if instead of giving away the M5, because it has cost at this rate of depreciation about $1 per mile I've driven it, we keep it and just be patient and wait for a nice used M3 to come along in the $45-50k range. My wife doesnt drive stick and we had decided on a DCT M3 Coupe. We were going to order in march which we figured would be a good time to see if the budget we intended for the car would work.

I love the M5, and I love the M3.....the ONLY thing I'd give the 5 up for is another M3 but if I could somehow keep both....that would be fantastic. We have an 08 VW GTi that we daily drive and my M5 is sitting at my parents garage unused, saving miles. We pay $415 for the GTi and we figured MAX we could to a total of $850-900 of car payments, which would kinda have worked with getting 30 for the M5 and putting another 10 down to finance around $35-40k.

But if we could keep the M5 and get either a phenomenal deal on a brand new M3 or a barely used one at auction (a friend is a dealer) then we could come in around 7-800 with nice financing and have 2 nice cars...

What say you? Sorry for my long rant

Sticky · 10-23-2008, 06:00 PM

If its a stretch don't do it. If you are happy with your M5 keep driving it and don't have a payment to worry about.

When the M3 drops down in the next few years take a look at it then. If you have to think about I would wait and see what happens to the market and what your position will be.

HotLap · 10-23-2008, 06:52 PM

Tough question, it really depends on what you need for your budget...but for me it would really depend on which car I wanted - then I'd find a way to make it work. By the way, there are killer deals going on right now for the M3's and I'd imagine the M5's as well. Invoice w/ 0.9% financing......

nullspace · 10-23-2008, 06:59 PM

If the M5 is sitting unused to save miles, it's still costing you quite a bit of money in terms of depreciation. If you're set on getting an M3, have you considered selling the M5 now and waiting for used M3 prices to drop? You could get that beater now (it won't depreciate much) and invest the rest of the money. Once you find an M3 in your price range, you could jump on it quickly. That way you don't pay for even more M5 depreciation while you wait.

Of course this is assuming that you are committed to the M3. Otherwise you'd be giving up your M5 for no good reason

!Xoible · 10-23-2008, 07:07 PM

i used to think M3 is the shit and everything else is whatevers, until my brother picked up a M5 over the weekend.

the answer is DEFINITELY m5 no question. if im to do it again, m5 m5 m5

nullspace · 10-23-2008, 07:09 PM

Quote:

Originally Posted by ///Mantis

i used to think M3 is the shit and everything else is whatevers, until my brother picked up a M5 over the weekend.

the answer is DEFINITELY m5 no question. if im to do it again, m5 m5 m5

Was that an E39 M5 or an E60?

MTROIS · 10-23-2008, 07:13 PM

Based on all the info, I would definitely stick with the M5 for the time being and wait a few months/years until the first leases are over and/or the first used M3s go for sale. Most of the depreciation will have already occurred (I am sure quite a lot because the price of gas will eventually go back up) and you will have been able to save your money. I am also thinking that since you both work in the same place, you are at greater risk if something happens to your company (God forbid!). Remember, you current car is already wonderful and there will always be better, faster, nicer, etc...

Just the 2 cents of a rationale guy who took several months to pull the trigger on the M3 but whom did not have a dream car like yours!

!Xoible · 10-23-2008, 07:13 PM

well i didnt read teh OP so i was assuming E60 M5... hahah

McLuVan · 10-23-2008, 07:14 PM

m3

JMD0977 · 10-23-2008, 07:16 PM

Keep the M5 for the wife ,and get an 08 M3 w/ .9 financing at invoice. If paying cash, wait for an used one.

drvai · 10-23-2008, 08:20 PM

You have a mess!!!!

Why would you loose thousands of dollars switching to a new M3 if you like the M5. Plus, you already have a daily driver.
Keep the M5 as much as you can. The sooner you sell it, the more money you will loose (there are exceptions).

Switching a car that is perfectly fine and that you love for another new is nonsense. If you have the money to afford that luxury, buy the M3 as a third car (Maybe a E93 for a change?)

daltonnnn · 10-23-2008, 08:29 PM

I say you should probably wait, like others have said.

Zoli007 · 10-23-2008, 10:17 PM

Yeah I was thinking I was crazy for wanting to get rid of the M5 for the M3. I mean I do like the M3 overall better because it handles better (M5 is stock) and its the newer generation of BMW so I feel its a little more civilized...if that makes any sense.

But the M5 was always my dream, and now that I have it I dont want to sell it but I thought it was the only way to get it.

A little background, I've had a 328i, an M3 for when I graduated high school, had that for 127k miles with no issues and original clutch, had a C6 vette briefly and now the 2003 M5. So I've had quite a few "dream" cars of mine. I know Im very very blessed and I do not take it lightly. My wife has had a camaro, a civic and a G35. The M3 was always her dream car so I always thought I'd sacrifice a little of my good fortune to give her dream. After all I would get to drive it 90% of the time anyway. But I really really don't want to just give away the M5. I remember a year ago someone was looking for an M5 and described mine exactly, he wanted to offer $41 and I thought at the time no way....and now Im lucky if I get $31k...

Its got no warranty but its not given me any problems and a good friend owns an independent euro car shop....

I know in my brain that you guys are right. My heart and emotions say go with the M3, you can make it hot, and she will love it, and so will you.

I've talked with her about it and she agrees that its a shame to sell the M5 for so cheap.

On a side note, a good friend bought an E60 M5 around the same time I got my E39. He paid 80k barely used. His is worth about half now as well...Crazy.

drvai · 10-24-2008, 05:24 AM

Wait a bit. Get a used M3.

Quote:

Originally Posted by Zoli007

Yeah I was thinking I was crazy for wanting to get rid of the M5 for the M3. I mean I do like the M3 overall better because it handles better (M5 is stock) and its the newer generation of BMW so I feel its a little more civilized...if that makes any sense.

But the M5 was always my dream, and now that I have it I dont want to sell it but I thought it was the only way to get it.

A little background, I've had a 328i, an M3 for when I graduated high school, had that for 127k miles with no issues and original clutch, had a C6 vette briefly and now the 2003 M5. So I've had quite a few "dream" cars of mine. I know Im very very blessed and I do not take it lightly. My wife has had a camaro, a civic and a G35. The M3 was always her dream car so I always thought I'd sacrifice a little of my good fortune to give her dream. After all I would get to drive it 90% of the time anyway. But I really really don't want to just give away the M5. I remember a year ago someone was looking for an M5 and described mine exactly, he wanted to offer $41 and I thought at the time no way....and now Im lucky if I get $31k...

Its got no warranty but its not given me any problems and a good friend owns an independent euro car shop....

I know in my brain that you guys are right. My heart and emotions say go with the M3, you can make it hot, and she will love it, and so will you.

I've talked with her about it and she agrees that its a shame to sell the M5 for so cheap.

On a side note, a good friend bought an E60 M5 around the same time I got my E39. He paid 80k barely used. His is worth about half now as well...Crazy.

valeram · 10-24-2008, 07:20 AM

With your situation and the current economy, keep the M5.

booforty · 10-24-2008, 07:25 AM

Friend of mine just sold his E60 M5 for a E92 M3 and he loves it. Thought the E60 was too big whilst the E92 is perfect and more of a drivers car as its much more nimble

tifosi360 · 10-24-2008, 07:42 AM

This is what I would do…teach your wife how to drive manual and a get a base 2008 M3 Sedan/ White/ Cloth seats. No options! The numbers are the following:
$49,495/ invoice (You should be able to get that)
+ $825/ Shipping
+ $1300/ Gas Guzzler Tax
Total: $51,620

So with $2500 down and 0.9% financing your 60-month financing will be $897

This way you get to keep your M5 and able to buy a new M3! And you are within your monthly budget.

alienrasta · 10-24-2008, 08:33 AM

There comes a time in a womans life when, for the mere love of a man (who happens to be M car enthusiast) decides its time to handle the big ol' stick.
I agree with Tifosi360. Consider the great deals that come from above and take the M3. Keep the M5 for life (Some day when you are really old, you might be able to aution it for a million). I would put the GTI on leasetrader and get that beater for daily use and gas savings. I'd rather take part of the $400 payment and apply it towards the new M3 finance. Remember what is best for the long term.

Speedtrap · 10-24-2008, 10:04 AM

Quote:

Originally Posted by ///Mantis

i used to think M3 is the shit and everything else is whatevers, until my brother picked up a M5 over the weekend.

the answer is DEFINITELY m5 no question. if im to do it again, m5 m5 m5

I sold my 2006 E60 M5 to get the M3, and I think the M5 is shit to drive unless you want a drag race in a straight line everyday. You do not even connected to the car at all, and it rolls even when I had H&Rs on it. I can say more, but bottom line - not for me.

booforty · 10-24-2008, 10:12 AM

Quote:

Originally Posted by Speedtrap

I sold my 2006 E60 M5 to get the M3, and I think the M5 is shit to drive unless you want a drag race in a straight line everyday. You do not even connected to the car at all, and it rolls even when I had H&Rs on it. I can say more, but bottom line - not for me.

Knew you would pop up on this thread

Speedtrap · 10-24-2008, 04:27 PM

Quote:

Originally Posted by booforty

Knew you would pop up on this thread

But nothing beats the GT3

Zoli007 · 10-25-2008, 02:42 PM

Thanks for all the logical replies. I've known that getting rid of the M5 is silly but you dont always think with your mind.

The handling is what was really driving me to the M3. But I know if we are patient we can have both a nice classic M5 and a nice very new used M3.

10-23-2008, 05:53 PM	#1
Zoli007 Professional lurker 129 Rep 376 Posts Drives: 2011 135i, 2016 MCB M3 sold =( Join Date: Jun 2008 Location: Cooper City, FL iTrader: (1)	What would you do? M5 for M3.....? Ok so Im sure these types of threads are annoying as hell, but I'd like to think this is a little bit different. I currently have a 2003 E39 M5 with only 37k miles on it. Im married. My wife and I work in the same place, we go basically everywhere together and we are together 99.9% of the time. The only time we ever need another car is the extremely rare occurrence where I need to be somewhere she doesn't or visa versa. I love my M5, it was always my absolute dream car. I've driven the new M3 and I love that car too, would love to have one. The plan was to sell my car (which is paid for) and put the money we get from it as downpayment on the new M3 and get another car for a cheap beater to either daily drive (when gas was getting to almost $5) or to just have in case we need a second car. The market for the M5 has absolutely taken a huge dump. I bought my car 2 years ago with 10k miles for $52k which for then was a great deal. Everything else in that condition was $5k more at least. I will be happy to get $30-32k for it now..... So I had thought up, what if instead of giving away the M5, because it has cost at this rate of depreciation about $1 per mile I've driven it, we keep it and just be patient and wait for a nice used M3 to come along in the $45-50k range. My wife doesnt drive stick and we had decided on a DCT M3 Coupe. We were going to order in march which we figured would be a good time to see if the budget we intended for the car would work. I love the M5, and I love the M3.....the ONLY thing I'd give the 5 up for is another M3 but if I could somehow keep both....that would be fantastic. We have an 08 VW GTi that we daily drive and my M5 is sitting at my parents garage unused, saving miles. We pay $415 for the GTi and we figured MAX we could to a total of $850-900 of car payments, which would kinda have worked with getting 30 for the M5 and putting another 10 down to finance around $35-40k. But if we could keep the M5 and get either a phenomenal deal on a brand new M3 or a barely used one at auction (a friend is a dealer) then we could come in around 7-800 with nice financing and have 2 nice cars... What say you? Sorry for my long rant __________________
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10-23-2008, 06:00 PM	#2
Sticky Banned 78 Rep 2,244 Posts Drives: E92 Jerez DCT M3 Join Date: Jan 2008 Location: Anaheim Hills / Malibu iTrader: (0)	If its a stretch don't do it. If you are happy with your M5 keep driving it and don't have a payment to worry about. When the M3 drops down in the next few years take a look at it then. If you have to think about I would wait and see what happens to the market and what your position will be.
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10-23-2008, 06:52 PM	#3
HotLap First Lieutenant 13 Rep 376 Posts Drives: 2008 M3 Vert / 535i Twin turbo Join Date: Apr 2008 Location: SoCal iTrader: (0)	Tough question, it really depends on what you need for your budget...but for me it would really depend on which car I wanted - then I'd find a way to make it work. By the way, there are killer deals going on right now for the M3's and I'd imagine the M5's as well. Invoice w/ 0.9% financing...... __________________ M3 ...the ultimate driving machine 2008 M3 6MT Cabrio, Jerez Black w/ Bamboo Beige interior, Tech/Preimum Packages, I-Pod, SAT/HD Radio, 19" MWheels 2008 535i tt, 6MT, Monaco Blue w/ Cream Beige interior, Preimim/Cold Weather/Sport Packages, HUD, HD Radio, etc.
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10-23-2008, 06:59 PM	#4
nullspace Private First Class 43 Rep 120 Posts Drives: 2020 Z4 m40i Join Date: Sep 2008 Location: Seattle Area iTrader: (0)	If the M5 is sitting unused to save miles, it's still costing you quite a bit of money in terms of depreciation. If you're set on getting an M3, have you considered selling the M5 now and waiting for used M3 prices to drop? You could get that beater now (it won't depreciate much) and invest the rest of the money. Once you find an M3 in your price range, you could jump on it quickly. That way you don't pay for even more M5 depreciation while you wait. Of course this is assuming that you are committed to the M3. Otherwise you'd be giving up your M5 for no good reason
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10-23-2008, 07:07 PM	#5
!Xoible Banned 840 Rep 46,029 Posts Drives: .... Join Date: Nov 2006 Location: . iTrader: (4) Garage List 2008 M3 [4.00] 2007 335i [9.00] 2008 528i [8.00] 2006 Infiniti - G35 ... [8.00]	i used to think M3 is the shit and everything else is whatevers, until my brother picked up a M5 over the weekend. the answer is DEFINITELY m5 no question. if im to do it again, m5 m5 m5
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10-23-2008, 07:13 PM	#7
MTROIS Major 188 Rep 1,153 Posts Drives: on the wrong side of the Ocean Join Date: Jul 2008 Location: New Jersey, USA iTrader: (0)	Based on all the info, I would definitely stick with the M5 for the time being and wait a few months/years until the first leases are over and/or the first used M3s go for sale. Most of the depreciation will have already occurred (I am sure quite a lot because the price of gas will eventually go back up) and you will have been able to save your money. I am also thinking that since you both work in the same place, you are at greater risk if something happens to your company (God forbid!). Remember, you current car is already wonderful and there will always be better, faster, nicer, etc... Just the 2 cents of a rationale guy who took several months to pull the trigger on the M3 but whom did not have a dream car like yours! __________________ 2019 M2C MT (ED + PCD) \| 2008 M3 Coupé MT \| 1995 M3 LTW MT \| BMW CCA HPDE Instructor
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10-23-2008, 07:14 PM	#9
McLuVan Lieutenant General 304 Rep 13,114 Posts Drives: ///M3 Join Date: Jan 2008 Location: Socal~818~ iTrader: (1)	m3 __________________
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10-23-2008, 07:16 PM	#10
JMD0977 Captain 69 Rep 994 Posts Drives: 2010 GT3 and .... Join Date: Apr 2008 Location: I-95 iTrader: (6)	Keep the M5 for the wife ,and get an 08 M3 w/ .9 financing at invoice. If paying cash, wait for an used one.
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10-23-2008, 08:20 PM	#11
drvai Major 138 Rep 1,274 Posts Drives: E92 M3 AW Join Date: Dec 2007 Location: FL iTrader: (0)	You have a mess!!!! Why would you loose thousands of dollars switching to a new M3 if you like the M5. Plus, you already have a daily driver. Keep the M5 as much as you can. The sooner you sell it, the more money you will loose (there are exceptions). Switching a car that is perfectly fine and that you love for another new is nonsense. If you have the money to afford that luxury, buy the M3 as a third car (Maybe a E93 for a change?)
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10-23-2008, 08:29 PM	#12
daltonnnn Driver 17 Rep 504 Posts Drives: F80 M3, MSM, Clubman S Join Date: Sep 2008 Location: Bay Area, CA iTrader: (2)	I say you should probably wait, like others have said. __________________ Go Navy! Go SF 49ers!!! Go SF Giants!!! Go Warriors!!!!!
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10-23-2008, 10:17 PM	#13
Zoli007 Professional lurker 129 Rep 376 Posts Drives: 2011 135i, 2016 MCB M3 sold =( Join Date: Jun 2008 Location: Cooper City, FL iTrader: (1)	Yeah I was thinking I was crazy for wanting to get rid of the M5 for the M3. I mean I do like the M3 overall better because it handles better (M5 is stock) and its the newer generation of BMW so I feel its a little more civilized...if that makes any sense. But the M5 was always my dream, and now that I have it I dont want to sell it but I thought it was the only way to get it. A little background, I've had a 328i, an M3 for when I graduated high school, had that for 127k miles with no issues and original clutch, had a C6 vette briefly and now the 2003 M5. So I've had quite a few "dream" cars of mine. I know Im very very blessed and I do not take it lightly. My wife has had a camaro, a civic and a G35. The M3 was always her dream car so I always thought I'd sacrifice a little of my good fortune to give her dream. After all I would get to drive it 90% of the time anyway. But I really really don't want to just give away the M5. I remember a year ago someone was looking for an M5 and described mine exactly, he wanted to offer $41 and I thought at the time no way....and now Im lucky if I get $31k... Its got no warranty but its not given me any problems and a good friend owns an independent euro car shop.... I know in my brain that you guys are right. My heart and emotions say go with the M3, you can make it hot, and she will love it, and so will you. I've talked with her about it and she agrees that its a shame to sell the M5 for so cheap. On a side note, a good friend bought an E60 M5 around the same time I got my E39. He paid 80k barely used. His is worth about half now as well...Crazy. __________________
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10-24-2008, 07:20 AM	#15
valeram Major 37 Rep 1,413 Posts Drives: 992 TTS, 991.2 GT3 T, F80 M3 C Join Date: Oct 2006 Location: Dublin, OH iTrader: (0)	With your situation and the current economy, keep the M5.
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10-24-2008, 07:25 AM	#16
booforty Major General 337 Rep 8,811 Posts Drives: E92 M3 Join Date: Mar 2005 Location: London, UK iTrader: (0) Garage List 2008 E92 M3 [0.00]	Friend of mine just sold his E60 M5 for a E92 M3 and he loves it. Thought the E60 was too big whilst the E92 is perfect and more of a drivers car as its much more nimble
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10-24-2008, 07:42 AM	#17
tifosi360 Private 9 Rep 68 Posts Drives: '14 F31/ '14 Porsche Carrera Join Date: Nov 2007 Location: CG iTrader: (1)	You can have the M5 and M3 This is what I would do…teach your wife how to drive manual and a get a base 2008 M3 Sedan/ White/ Cloth seats. No options! The numbers are the following: $49,495/ invoice (You should be able to get that) + $825/ Shipping + $1300/ Gas Guzzler Tax Total: $51,620 So with $2500 down and 0.9% financing your 60-month financing will be $897 This way you get to keep your M5 and able to buy a new M3! And you are within your monthly budget.
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10-24-2008, 08:33 AM	#18
alienrasta Mmm Good 0 Rep 2 Posts Drives: 2008 M Coupe Join Date: Oct 2008 Location: Weston, FL iTrader: (0)	There comes a time in a womans life when... There comes a time in a womans life when, for the mere love of a man (who happens to be M car enthusiast) decides its time to handle the big ol' stick. I agree with Tifosi360. Consider the great deals that come from above and take the M3. Keep the M5 for life (Some day when you are really old, you might be able to aution it for a million). I would put the GTI on leasetrader and get that beater for daily use and gas savings. I'd rather take part of the $400 payment and apply it towards the new M3 finance. Remember what is best for the long term.
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10-25-2008, 02:42 PM	#22
Zoli007 Professional lurker 129 Rep 376 Posts Drives: 2011 135i, 2016 MCB M3 sold =( Join Date: Jun 2008 Location: Cooper City, FL iTrader: (1)	Thanks for all the logical replies. I've known that getting rid of the M5 is silly but you dont always think with your mind. The handling is what was really driving me to the M3. But I know if we are patient we can have both a nice classic M5 and a nice very new used M3. __________________
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