Better Deal: 2001 V. 2003 540i/6 Speed

[dsockel]

Looking at 2 cars right now. Both Silver with Grey interior:

2001 540i 6 speed, 41K miles, factory warranty until Jan. 2006. Upgraded wheels. $31K

2003 540i 6 speed, 10K miles, factory warranty until May 2007. Upgraded wheels and Nav. $42K

Which is a better deal and why?

[Eric S.]

Originally posted by dsockel@Jan 23 2005, 10:08 AM
Looking at 2 cars right now. Both Silver with Grey interior:

2001 540i 6 speed, 41K miles, factory warranty until Jan. 2006. Upgraded wheels. $31K

2003 540i 6 speed, 10K miles, factory warranty until May 2007. Upgraded wheels and Nav. $42K

Which is a better deal and why?

[snapback]277335[/snapback]

If you have the ability to get either, I'd say the '03 is the better deal, and not just because it is 2 model years newer, has 31K fewer miles, and has a longer warranty.

First off, the '03 is the final year of the E39 generation of 5-series, and as such is the pinnacle of refinement and reliability for that model. Even Consumer Reports' Used Car Buying Guide recognizes this by rating the E39 better each year of its run (1997-2003), and rates 2003 as highest, altho they do give all 2001, 2002, and 2003 models "check marks" for good reliability.

The other issue is that at 41K miles, you are beginning to get into the range for some more expensive repairs, not to mention Inspection Level II service. On the other hand 10K miles is in my mind just about brand new.

Other guys on this board can give more concrete examples of why, but I think most would agree with getting the '03. However, if $30K is all you have, then the choice is made for you. After all, here I sit with my 1999, but it was the best I could do for under $18k, and I am happy with it.

Best of luck to you, and please let us know what you decide. And keep in mind that as you dip into the $40k's and higher, a used M5 becomes feasible as well, and should not be overlooked, because it is THE penultimate E39, regardless of year.

[Eric S.]

Oh, one other thing is that the 2003 has the navigation option (I didn't see you list it for 2001), and it seems like navigation is becoming "de riguer" nowadays, so I think your resale would be much enhanced over not having navigation. I don't have it on my car, but i wish i did, even tho it is available in the aftermarket now for under $1K...

[billB]

Both are good and at the end of the day? how much money you willing to spend?
good luck on the new purchase, Eric covered it very well.

[Eric S.]

Originally posted by dsockel@Jan 23 2005, 10:08 AM
Looking at 2 cars right now. Both Silver with Grey interior:

2001 540i 6 speed, 41K miles, factory warranty until Jan. 2006. Upgraded wheels. $31K

2003 540i 6 speed, 10K miles, factory warranty until May 2007. Upgraded wheels and Nav. $42K

Which is a better deal and why?

[snapback]277335[/snapback]

Hey, it's been over a week now and I am curious - which car did you finally select or was it even one of those two?

[M BMW]

Hi. Eric S., I would advise you to buy the 2003 as it is a way better buy than the 2001. Less miles. Much longer time on the warranty, less miles and a navigation system. Not that I'm saying the 2001 is a bad buy. Just get the extended warranty on there once you get the 2001.

Thanks.
Bye.

[Eric S.]

Originally posted by M BMW@Feb 2 2005, 09:49 PM
Hi. Eric S., I would advise you to buy the 2003 as it is a way better buy than the 2001. Less miles. Much longer time on the warranty, less miles and a navigation system. Not that I'm saying the 2001 is a bad buy. Just get the extended warranty on there once you get the 2001.

Thanks.
Bye.

[snapback]284959[/snapback]

It was Dsockel who was looking at the 2001 or 2003. I am quite happy with my 1999 540/6, unless someone out there wants to underwrite/fund my step up to a newer model...

[billB]

You won't mind either LOOOOL

[Eric S.]

Originally posted by billB@Feb 2 2005, 10:04 PM
You won't mind either LOOOOL

[snapback]284965[/snapback]

You are right about that, altho I much prefer my Biarritz Blue color over silver/gray. Oh well, if I HAD to!! :P

[dsockel]

I actually bought the 2001 540 not the 2003. The reason was that the knuckle-head who was trying to getting me to take the 2003 lease off his hands thought that his lease buy out price was $28K. I called BMW Finance, pretended to be him and they told me the buy-out price was $38K and that the car was totally upside down. I don't think he was trying to deceive me, more ignorance than anything else.

Bought the silver/gray 540i/6 with 42K miles and a year left of factory warranty for $28K.

Thanks to all who responded.

[Eric S.]

Originally posted by dsockel@Feb 3 2005, 12:37 AM
I actually bought the 2001 540 not the 2003. The reason was that the knuckle-head who was trying to getting me to take the 2003 lease off his hands thought that his lease buy out price was $28K. I called BMW Finance, pretended to be him and they told me the buy-out price was $38K and that the car was totally upside down. I don't think he was trying to deceive me, more ignorance than anything else.

Bought the silver/gray 540i/6 with 42K miles and a year left of factory warranty for $28K.

Thanks to all who responded.

[snapback]285059[/snapback]

CONGRATULATIONS! Sounds to me like you got a great car at a great deal for $28K. ENJOY! Oh, and share some photos of it with us!!