Keep an eagle eye on the 5er's cooling system. They typically have issues around 70k miles. An overheat can kill the engine.
The perfect mileage to buy a used car
- Thread starter HawkeyeScott
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I bought my '03 Buick Park Avenue with about 44K miles on it in August of 2007, when it was 4 to 5 years old. Its resale value had fallen like a stunned condor (darned if I understand why), so I paid about 33-35% of the original MSRP, and it had some powertrain warranty left on it. Plus the dealer added some bumper-to-bumper warranty, which I used to have them fix a rattle and the headlight flasher stalk. Then I changed all the fluids.
It's at almost 71K now and drives like new.
My previous experience with low-mileage used cars was my '94 Oldsmobile Cutlass Supreme coupe, the second I'd had with that body style. It had about 33K on it when I bought it in late '95 (a lot of highway, I guess), so there was still 3K of the original warranty on it. I didn't have to use it, thank goodness. The Olds served me well until I got into Mercedes in '97.
It's at almost 71K now and drives like new.
My previous experience with low-mileage used cars was my '94 Oldsmobile Cutlass Supreme coupe, the second I'd had with that body style. It had about 33K on it when I bought it in late '95 (a lot of highway, I guess), so there was still 3K of the original warranty on it. I didn't have to use it, thank goodness. The Olds served me well until I got into Mercedes in '97.
I'd buy cars with just over 100K miles, this way you are almost assured that most of the items that will fail are already new : )
If I'm buying used, I like 2-4 YO cars with low miles, that pass my inspection. They're still fairly new, and the original buyer took the depreciation hit not me.
I prefer new vehicles if possible, this way there is no guessing on how they were maintained. I don't mind the depreciation hit because the new vechicle I bought before my 08 Jeep was purchased in October 1987, and I'm still using it. JMO
I prefer new vehicles if possible, this way there is no guessing on how they were maintained. I don't mind the depreciation hit because the new vechicle I bought before my 08 Jeep was purchased in October 1987, and I'm still using it. JMO
[/quote]Fast-depreciating BMWs are the exception, not the rule. They usually hold their value pretty well. [/quote]
I agree with you concerning the 3-series - they hold their value pretty well. But the 5-series depreciate pretty fast (or at least they did when I bought mine). And since I wanted the room offered by a 5-series, buying a used one made a lot of sense.
My theory is that people who want a 5-seies want a new one, so the used market isn't as strong as for a 3. And since I keep cars that I like as long as possible, the resale value isn't that important to me.
I didn't look at the other series since I wanted 4 doors and a manual transmission.
Ecotourist
I agree with you concerning the 3-series - they hold their value pretty well. But the 5-series depreciate pretty fast (or at least they did when I bought mine). And since I wanted the room offered by a 5-series, buying a used one made a lot of sense.
My theory is that people who want a 5-seies want a new one, so the used market isn't as strong as for a 3. And since I keep cars that I like as long as possible, the resale value isn't that important to me.
I didn't look at the other series since I wanted 4 doors and a manual transmission.
Ecotourist
Originally Posted By: andyd
Keep an eagle eye on the 5er's cooling system.
Agree it's a problem area, particularly on the V-8's. On the Roadfly site, they have an active discussion of cooling system failures. Radiators seem to be a particular weak point, with a number of them failing by breaking at the top hose. The I6's don't seem to be quite as bad. Could be that repeated engine rotation due to the V-8 torque breaks them off, but that's just speculation.
My wife drives the BMW more than I do and I've warned her to shut it off if it overheats or she sees steam coming from under the hood. Don't think I want to start replacing stuff just in case. And I have hardly any miles on it.
Ecotourist
Keep an eagle eye on the 5er's cooling system.
Agree it's a problem area, particularly on the V-8's. On the Roadfly site, they have an active discussion of cooling system failures. Radiators seem to be a particular weak point, with a number of them failing by breaking at the top hose. The I6's don't seem to be quite as bad. Could be that repeated engine rotation due to the V-8 torque breaks them off, but that's just speculation.
My wife drives the BMW more than I do and I've warned her to shut it off if it overheats or she sees steam coming from under the hood. Don't think I want to start replacing stuff just in case. And I have hardly any miles on it.
Ecotourist
I have to go with 3 years 40-45k miles by my experience because of the following reasons:
1. The majority of deprecistion has occurred
2. Any lemon defects have already reared their ugly heads
3. The trans & diffs are still ok on FF
4. As long as the owner can prove 6-7 OCI's all should be good.
Every car I have purchased off a 45k lease 3 years old has turned out to be mechanically sound and trouble free. One note: Upon purchase you have to immediately jump in and give the entire vehicle a complete fluid exchange.
1. The majority of deprecistion has occurred
2. Any lemon defects have already reared their ugly heads
3. The trans & diffs are still ok on FF
4. As long as the owner can prove 6-7 OCI's all should be good.
Every car I have purchased off a 45k lease 3 years old has turned out to be mechanically sound and trouble free. One note: Upon purchase you have to immediately jump in and give the entire vehicle a complete fluid exchange.
I like under 30,000 however son has had good luck with cars under 60,000 when purchased and still going strong.
Another aspect of buying a used car is whether to buy from a dealer or private party. I prefer to buy from a private party because there is no 'middle man'. Another thing is that I have bought a car that had a clean 'Carfax' and then discovered that body work had been done....Carfax reports only things that have been reported.
IMO the lower the mileage, the better. I bought my 2004 Impala as a 3 yr lease return w/11K miles. I've had it almost 3 years w/o problems. You save a lot over new by buying used. No regrets yet.
I purchased my Altima with 118k and my Integra with 121k, that seems to be the sweet spot for me. Mileage doesn't matter to me though, I care more about how it's maintained.
Originally Posted By: gathermewool
The perfect car for me is just past 100k with with the timing belt, water pump, plugs and wires all replaced. New tires would be a great benefit, too. With this set up, and a good maintenance history, you could easily get another 100k out of 'er with very little money spent.
This is good, but I would rather buy the car that needs a new timing belt, and use this information to get a big discount on the purchase price. Then I will make sure the new TB is done right, and other stuff gets checked at the same time.
I have heard too many horror stories of "guaranteed newly-replaced timing belts" that failed right after the purchase. And also some instances where a timing belt failed, then a new one was slapped on and the valve or lifter damage was ignored. In such cases the new TB just camouflaged the need for a rebuilt head.
The perfect car for me is just past 100k with with the timing belt, water pump, plugs and wires all replaced. New tires would be a great benefit, too. With this set up, and a good maintenance history, you could easily get another 100k out of 'er with very little money spent.
This is good, but I would rather buy the car that needs a new timing belt, and use this information to get a big discount on the purchase price. Then I will make sure the new TB is done right, and other stuff gets checked at the same time.
I have heard too many horror stories of "guaranteed newly-replaced timing belts" that failed right after the purchase. And also some instances where a timing belt failed, then a new one was slapped on and the valve or lifter damage was ignored. In such cases the new TB just camouflaged the need for a rebuilt head.
Originally Posted By: Tornado Red
Originally Posted By: gathermewool
The perfect car for me is just past 100k with with the timing belt, water pump, plugs and wires all replaced. New tires would be a great benefit, too. With this set up, and a good maintenance history, you could easily get another 100k out of 'er with very little money spent.
This is good, but I would rather buy the car that needs a new timing belt, and use this information to get a big discount on the purchase price. Then I will make sure the new TB is done right, and other stuff gets checked at the same time.
I have heard too many horror stories of "guaranteed newly-replaced timing belts" that failed right after the purchase. And also some instances where a timing belt failed, then a new one was slapped on and the valve or lifter damage was ignored. In such cases the new TB just camouflaged the need for a rebuilt head.
Usually the discounts are not as much as the cost of having those things done. I believe the seller who does those things does not recoup the money he spent on it versus what he would have made if he had left it for the buyer to do.
Originally Posted By: gathermewool
The perfect car for me is just past 100k with with the timing belt, water pump, plugs and wires all replaced. New tires would be a great benefit, too. With this set up, and a good maintenance history, you could easily get another 100k out of 'er with very little money spent.
This is good, but I would rather buy the car that needs a new timing belt, and use this information to get a big discount on the purchase price. Then I will make sure the new TB is done right, and other stuff gets checked at the same time.
I have heard too many horror stories of "guaranteed newly-replaced timing belts" that failed right after the purchase. And also some instances where a timing belt failed, then a new one was slapped on and the valve or lifter damage was ignored. In such cases the new TB just camouflaged the need for a rebuilt head.
Usually the discounts are not as much as the cost of having those things done. I believe the seller who does those things does not recoup the money he spent on it versus what he would have made if he had left it for the buyer to do.
Timing belts are a funny example because trying to convince a private party there's an issue lurking doesn't sink in... because the vehicle is still running perfectly. To their credit some less knowledgeable schmoe might come along not knowing or caring about the timing belt... a "live in the now" sort, who won't try and whittle on price.
Having been on the selling end of things a couple times, many people don't even open the hood!!!
Since we have state inspections here, my best buys flunked and are legally taken out of commission. Sometimes the seller even has a list from the mechanic of the legally-required-to-fix issues! We obsess about oil a little too much; engines last long enough for stuff to rust out around here.
There are lots of people who don't have $300 to their name (for, say, a new set of tires) so they'll sell their used car and take on a note
for something newer. Though one might think their old cars have 10's of thousands of miles of neglect... they can still be recovered.
Having been on the selling end of things a couple times, many people don't even open the hood!!!
Since we have state inspections here, my best buys flunked and are legally taken out of commission. Sometimes the seller even has a list from the mechanic of the legally-required-to-fix issues! We obsess about oil a little too much; engines last long enough for stuff to rust out around here.
There are lots of people who don't have $300 to their name (for, say, a new set of tires) so they'll sell their used car and take on a note
I was always told the ultimate value/$ point was 5ry./50K mi. Lost of people sell cars at this point because it is a significant ($Expensive$) service point. If you are willing to pay for or better yet, do what is required yourself you can get a very reliable high quality vehicle. That being said, 2-3 year point is probably better because you end up with essentially a new car, eve if you do have to pay a bit more.
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