[GriggsyG22]

Looking at selling my 2023 and a large majority of 2022-2023 I'm seeing online have 5k or less miles. Why does nobody drive these? Also why do they seem to depreciate so much? Bought my Comp new. No CCB, no B&W and no M Drivers package. Verging on 13k miles...I know I can get more for it according to a buddy who's a sales manager and what he'd offer for it.

But Carmax offered me $83,000 for it. Buddy who's the sales manager at a Lamborghini, Bentley and Rolls dealer without looking at it would probably offer me 95-98k.

I know this doesn't add value but with the $6300 upgraded wheel option (813M's), after taxes I ended up spending just over 40k more than the highest offer I have.

Anyone have an answer to either of my questions?

[LouK]

Like any car there are some who drive and some who don’t. I don’t believe the mileage is any kind of trend.

Expensive luxury cars tend to have a faster depreciation. Other than a few anomalies I can’t think of any luxury car that consistently holds value. MB, BMW, RR, jaguar, even bring in Cadillac, all tend to depreciate fast.
I knew buying an M5 would be a depreciating money pit but have always wanted one so I got it.

[Greer]

Why are you looking to sell so soon?

[Nighttime22]

For me it's a weekend car that I enjoy driving when the roads are open and I'm free to exercise it a bit. The bulk of driving is done by kid haulers and daily drivers. I probably average around 300-400 miles a month in the M5 and every one of those miles are glorious...

Current mileage on mine that I picked up in June of 23 is right around 3500. Just broken in...

[RoninF90]

Great question.

I’ve always thought of the M5 as an executive sedan with race technology, not really an exotic or sports car. There are plenty of ppl that track it, but it doesn’t have the mainstream racing heritage such as an M3, M4, or M6. Neither is it rare, or limited line the Z8.

I don’t know any bmw besides the Z8, 3.0CSL, and 507 that are high dollar cars. Even the E30 went up because Gen X had a flash of nostalgia and extra income, but not by much.

It’s great to be faster than most Porsches, Rari’s, etc., but my ego is where it stops. These cars will never have the fame or rarity as the 911 GT3 touring, or Urus, etc.

Sorry bro, it’s just a beemer. We wish, but it’s still a beemer.

It’s ok tho! Drive it everywhere. The fact they devalue is in our favor. Drive it, enjoy it, live with it, and don’t worry about resale, etc. We paid for the car, we can respect it and keep it nice, but drive it! It’s not a museum piece or a cars and coffee queen like a 911 etc.

Trust me, I don’t want the attention of a flashy car, and I want to feel good about putting miles on this thing. I know I speak for more than just myself on that…

[GriggsyG22]

Originally Posted by Greer

Why are you looking to sell so soon?

Sadly not necessarily wanting to but have had some bad luck with business ventures since covid starting with supply chain issues then trickling into higher costs and just the overall worse economy.


Do I NEED to sell? No. But I'm doing it just to get rid of the $2100 payment every month between the car and insurance just as a small safety net as well as selling my built Jeep which I really haven't driven at all in the last 2 years anyways. It's a 2016 that I got new and still only has 21,000 miles.

Just trying to sell and assuming things go well which they are looking pretty good right now with my now new business...I'll just kinda wait and may get a G80 or even wait for the G90

[AHall]

All cars depreciate the moment you drive off the lot. Have you never heard this? Why not take the car to your friend and have him buy it. I have not kept track of values, but not too long ago the M5 was holding value fairly well. What did you pay for the car? Regarding the low miles, a lot of people that buy these cars have multiple cars. I have four cars and only drive one daily and it is not the M5. I ordered my 2021 and it has 7,000 miles. I love it every time I drive it. Also a lot of people that post on these sites change cars like they change their underwear. I read a post from someone saying they have had 30+ cars in 15 years.

[jnotrom711]

This is nothing new that BMWs, especially M cars depreciate. More than most. But I'll say if your buddy is offering you 15-20K more than carmax, I would take it. Immediately. a lot of dealers got caught with their pants down paying way too much for cars, just to get inventory, and now a lot of them are taking big losses. So many are being extra careful with the uncertainty in the economy.

It comes down to a lot of factors but the main ones being, luxury drivers usually want the latest and greatest so the life cycle of the person that bought it new usually trade in or swap earlier than the masses.

Luxury European cars are notoriously more expensive to maintain, especially out of warranty. So when they get up in miles people are scared of them.

They're expensive to begin with but many times OEM lease specials make them more affordable when new. But the same special programs dont exist on the secondary used market.

There is other factors at play, but this is nothing new for European luxury cars. This is the norm. Except for the 2021-2023, the normal depreciation is occurring.

2021-2022 were anomalies, and should basically be removed from the equation of valuing most things, especially european cars.

[pmsteinm]

Cars are meant to be driven and enjoyed. It took me 3 new cars, 20 years, and a life changing event to finally see that.

I am shooting for 12 years 150k miles at least. Maybe more. This is by far my favorite car.

[GTTC]

Originally Posted by pmsteinm

Cars are meant to be driven and enjoyed. It took me 3 new cars, 20 years, and a life changing event to finally see that.

I am shooting for 12 years 150k miles at least. Maybe more. This is by far my favorite car.

Same here. I’ll drive it until the wheels fall off.

[DavidXJ]

Originally Posted by GTTC

Same here. I’ll drive it until the wheels fall off.

And me!

Speaking for the UK market, yes, the first two years of depreciation are the most significant; but beyond that, for my part, I'm neither concerned with monitoring the value of mine nor watching the mileage too assiduously. I've covered about 30K in two years, partly because of a 120-mile twice a week commute (which is most pleasurable when done in this monster) but also because I can't stop enjoying it. Cruises, backroad blasts, any old reason to pick up some milk from the local shop--all regular excuses to fire it up!

Sure, sometimes I have a mild yearning for something smaller, lighter, and manual--but I don't have the means or justification to warrant a weekend toy nor the funds to maintain a 10-15 year old soon-to-be-classic. Maybe someday. But for now, the M5 attracts about much attention (and respect) as I could ever want.

[nerdogray]

Kind of went through something similar. Had big plans this past year of moving to Florida, and then my contract of 6+ years was not renewed... all happened right in the middle of financing the new house. So, needless to say, that did not happen. Went unemployed for three months and even got to the point of planning my exit. Fortunately, I picked up a new role, albeit for $48k less a year, so the payment on mine is a lot more spicy now. I've often tried to think of ways out of it. I've also been conservative on putting miles on it, but lately I've been driving it a lot more. It is a pleasure every single time I drive it. I can always count on two times I will have something to enjoy... driving to work and driving back home. So I'm going to keep it. I'm going to sell my Civic beater to simplify things, and I'm going to drive the M5 and just accept it's going to show wear eventually. It is just too good. I could take out a $30k loan to close the gap and be out an M5, but $30k is a year's worth of payments I could still be enjoying it. Granted, payments on $30k is a lot less, but while strained a bit, I'm not desperate. May take a part-time job on weekends to increase my buffer. I see all these other vehicles on the road.. Tesla, Mercedes, Audi, and none of them just "grab me" like the M5. I park next to an M8 at work, and while I do like it, I just like the M5 better. It's perfect (for me).

[Aronis]

55,000 miles, drive it every day in winter, summer is for convertible LOL. It gets lots of use. Sure there are those who have several hot sedans and put lets milage on them. Those who can "afford" this car, drive it, those who have more money than they can spend, "super afford" this car, but have to spend time driving one of several cars. LOL.

Mike

[SQ5]

Here is a 2023 M5C with 4k miles. 1 owner. Most options. Sold for $92,500.

https://carsandbids.com/auctions/3zP...tition-package

[EM5C]

Originally Posted by SQ5

Here is a 2023 M5C with 4k miles. 1 owner. Most options. Sold for $92,500.

https://carsandbids.com/auctions/3zP...tition-package

That’s a nice find. I bought during covid and boy were the prices inflated then 😖

[M3PGH]

Carmax offer is low
I just traded my 2022 M5C with 12000 miles for 85.5 K and the dealer sold it in a week for 94K
so a 23 should fetch more money probably 92-95 k
so shop your car around
and currently the car market is out of sync as people are trying to digest the Covid hype and now back to normal behavior but with additional inflation that affected the world the past year , so a lot of moving pieces

[italiabrain]

Originally Posted by GriggsyG22

Looking at selling my 2023 and a large majority of 2022-2023 I'm seeing online have 5k or less miles. Why does nobody drive these? Also why do they seem to depreciate so much? Bought my Comp new. No CCB, no B&W and no M Drivers package. Verging on 13k miles...I know I can get more for it according to a buddy who's a sales manager and what he'd offer for it.

But Carmax offered me $83,000 for it. Buddy who's the sales manager at a Lamborghini, Bentley and Rolls dealer without looking at it would probably offer me 95-98k.

I know this doesn't add value but with the $6300 upgraded wheel option (813M's), after taxes I ended up spending just over 40k more than the highest offer I have.

Anyone have an answer to either of my questions?

I traded mine in a little over 5years old with ~30k miles on it for 53% of original price. I did have B&W. But 53% on an early pre-LCI I actually thought was decent. It was also against an MSRP Macan GTS allocation for the wife, so I don’t feel like they were screwing around anywhere else to make the trade look decent.

[NCRob]

Yeah, I’m finding out these M5,M8s depreciate faster than their 0-60 time. I’m not one of those who can “super afford” it for sure. I’m almost convinced it’s best in my situation (like to trade frequently) to buy used or maybe lease next time.

Also, maybe a lot of folks are like me and work from home, don’t have kids to transport to soccer, drive long trips, or live out in the rurals so don’t put a lot of miles on them. I also have an old truck I beat around town. I do like to take a morning Starbucks run around the town many mornings to flex her muscles though.

[Egrunt]

Since 2009 I have been assigned a work vehicle that I take home with me. When I am not working, I spend most of my time on my motorcycle. I purchased my 18 M5 new in August of 2018 and only have 11,400 miles on the odometer. Prior to the M5 I had a 15 BMW M3 and after 4 years of ownership the M3 had 13k miles on the odometer. Having a take home work vehicle has reduced the amount of mileage that accumulates on the M5.

[carseatsm5]

Nowadays only in the office 3x/wk. Otherwise it’s almost always SUV with the family. 15K miles on my 2020.

[Desking101]

I drive the shit out of mine

[Dinahmohumm]

Include me in the drive it 'till it dies group. The nastier the paint gets, the better. I made the mistake of ordering Azurite Black and the paint is so soft I can't tell what color it is now. Clean wheels? Overrated. But a '20 M5C will certainly get out of its way. /s/ Darth Bimmer