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Thread: Finally Saved $5000. Would A 2006 BMW 5 Be A Good Idea?

  1. #1
    Join Date
    Jan 2019
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    Los Angeles
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    I Don't Have A Car ;-;

    Finally Saved $5000. Would A 2006 BMW 5 Be A Good Idea?

    They are beautiful. And because they are hit with depreciation harder than almost any other car - I can afford an older used one. The depreciation works in my favor. Plus, JD Power says they are more reliable than Hondamobiles. Also, coincidentally, I have a friend named JD who is a car enthusiast and aspiring mechanic who can help check out/fix the car.


    I heard older Audi's are lemons and aren't worth it. Is that true here or have I found my next car?

  2. #2
    Pelican Parts's Avatar
    Pelican Parts is offline Senior Member Supporting Vendor
    Join Date
    Aug 2013
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    '02 E39 Touring
    Hello and welcome to the forum! Which 5 series model are you looking at? - the reliability factor plays an important role. Just remember that parts can be pricey too. Injectors, if ever needed, are ~$300 each and you have 6.
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  3. #3
    Join Date
    Mar 2008
    Location
    Monroe, CT
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    2007 530xi 6 spd.manual
    Chabo,

    The purchase price of a BMW is actually the easy part. The hard part is the $2000 a year average maintenance cost. Are you prepared for that?

    If you are mechanically adept with cars, that will go a long way toward making it affordable. But if you plan on relying on "JD" learning about BMWs on your dime to keep your baby running, it might be better to save up a few thousand more first... or look at another brand.
    Last edited by JayArras; 01-08-2019 at 05:22 PM.
    2007 530xi, Black Metallic Sapphire, 6 speed manual, Sport package, Cold Weather Package, Premium Package, Premium Sound Package, Sirius Satellite Radio, MTech front bumper, Replica Style 166 wheels

  4. #4
    Join Date
    Jan 2016
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    Ca
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    6,981
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    2001 525it
    Well I believe jd powers is completely wrong. Jd powers what a scam, any way if you had a limited amount of money to afford a car, then a BMW would not be a good choice, maybe a mbz e320 other wise stick with Japanese cars.

  5. #5
    Join Date
    Jan 2007
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    I agree. JD power is full of crap. If you had to save up $5k, an old E60 is not for you.
    ASE and BMW Master Certified Technician

  6. #6
    Join Date
    Mar 2008
    Location
    Napa, Ca
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    1,796
    My Cars
    1987 M6
    I would caution anyone who does not have solid mechanical skills, and experience about buying an E60. They are pretty much all higher mileage now, and the larger system issues will be of concern. Things like starters, water pumps, AC pumps, fuel pumps, shocks, trunk lift hydraulic pumps, and all the ECU's need to be understood, then repaired quickly if anything is wrong. If you wait to save up money to fix something, it can cascade into many other, bigger problems. It is also essential to have a good diagnostic tool, preferably the INPA system that is supported in our site diagnostic forum area. I love our E61, but it has been scary expensive to repair. Thankfully, all the major stuff has been done under an extended warrnty, so I think we can expect another 100k of more typical expenses (oil changes, brakes, tires, etc.). Perhaps if you are living in a state where extended warranties can be added onto the car it might be ok to buy something that needs work, but in California independent companies cannot legally provide you coverage. You can only buy extended warranties from authorized dealers. So I guess that if you are not mechanically skilled, buying a used E60 with higher miles, but a decent extended warranty you might be ok. Otherwise, find something else.

    Jose
    1987 M6
    Livin the dream!

  7. #7
    Join Date
    Sep 2006
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    Michigan
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    13,674
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    2005 325Xi
    No.
    Quote Originally Posted by B4SH View Post
    If anyone knows, it's this guy who knows literally nothing about everything.
    Quote Originally Posted by fcvapor05 View Post
    Do you even OT? The mean 401k around here is probably about $6, what with all the shiny cars and $1,000 watches and donations to get other members' Volvos running.


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