Car Buying Strategy

I'm curious as to what the GRM strategy is for buying cars. Would you rather buy a 6 year old car with 110,000 miles and all the maintenance records or an 8 year old car with 56,000 miles and no known records other than a clean title.

I ask this because I'm looking for a fun post-divorce car. I have found two different BMW M5 in the area I will be living. For a car like the M5, I would lean more towards the car with higher miles but has been taken care of.

Thoughts?

It really depends on what the maintenance records are. Is it a folder of oil changes and new tires, or are have other potential problem areas been addressed. I bought a 260K Volvo one time with a HUGE stack of records that were all oil and tires because nothing else on the car had ever failed. I can often tell more about a car by climbing in/under/around it and talking to the owner than I can any other way.

I tend to go for the lower mileage car because fewer things will have worn out. That said, it depends on the car. A high mileage Toyota is probably a lower risk for unknown expensive stuff. A late model BMW, on the other hand, I wouldn't touch with high mileage and without a factory or extended warranty on a low mileage one.

What is the price difference between them? Everything else is relative to price.

A high-mile, well-documented car for $12 will not beat a low-mile car for $8k any day of the week. Likewise a low mile $15k won't be a well-documented high mile job for $10k.

You get what I'm saying.

@Brett - I totally see what you're saying. The higher mileage car is $23,900 and the older, lower mileage car is $25k.

I love the M5, but I was also looking at a newer (2011+) Mustang GT. I know they're two completely different types of cars, but the Mustang has a warranty and between 20-30k miles.

So many choices, so little time. I should change the thread to "What car should Josh buy for less than 25k."

Didn't the 08+ M5's come with updates? If I recall, they got a better iDrive, facelifted headlights, less first year problems, etc...

I would try and talk the 08 model down. I'm surprised they are already sub-$30k!

I spent some time thinking about the M5 and after research decided that I did not want the potential expense of maintaining it. are you thining e60 or e39 M5?

I was looking at the e60.

The 08+ is the model to get, but they're still about 5k out of my price range. I have found a few, but they're well over 100k miles.

They're very different cars. I'd be quite concerned with a high mileage M5. Even well maintained, upkeep costs can be high. If the Mustang has a warranty, and it's what you want, it may be the way to go.

I always look for maintenance records, especially on higher mileage cars. For a newer one, yes, I'd be worried it was beaten. But if the warranty is long enough, I would think any issue from that beating will start to show itself by time warranty is up.

Out of warranty M5...you can't run fast enough away from that car.

Is the '08 the V10? That was in Motortrend's "Ten Best Engines of the Year" the year it came out. It won in like, five catagories. It didn't win in "best engine under 3.0 liters", "best hybrid engine", "best economy engine", etc. Like, it's seriously good.

(EDIT: I just read your post about the '08--looks like you are saying you're looking at the V8 car. THAT car is my second-favorite production BMW (next to Z3 M Roadster). I just loved the look of it. Anyway, the rest of this is still relevant.)

If you like it, go buy one! My strategy depends on the car I'm buying. When I bought my Miata, cost was the only concern, and it was cheap. I did my research when I bought the old Viper though and aimed for few miles and OEM condition (I specifically wanted a 1994 model, so year was a concern, but only because I wanted an old one).

All cars require maintenance. Keep up with it, and at most, you'll probably be bugged by a few nuisances from time to time (like, "why won't the running lights on the passenger side of the car turn off?"). Fall behind on it and you'll be wondering if it's possible to swap in a V8 where that work-of-perfection-V10 that you just smoked used to reside (EDIT: right... or another M V8 where your old M V8 used to be). My BMW wasn't terribly difficult to maintain. It just had more sensors, so more chances for small things to go wrong.

A friend wanted an M3. He read all the magazine articles about a Mustang GT being 98% as good for half the price. He bought the Stang. Every morning he walked out to his garage and was disappointed. Took him four months to get rid of it and buy the M3 which he kept for six years.
Maybe the M5 is dumb. But maybe, just maybe, it will make you really happy. Of course it could also very expensively crush your soul. I'd give it 50/50.

Buying a German car built in the last 10 years, I'd want a paper trail that would make the NSA jealous.

Well, again the place I'm going to live has changed. With this change comes the need for a different type of car. I will be in northern Africa in a place where the roads in the city are good, but people suggest you get an SUV if you want to get out of the city.

I was looking at jeeps and land cruisers that are under 20k. The jeeps seemed kinda boring so I might go with a WRX STI. I know they're completely different but I will be in the city most of the time with only the occasional need to go off road.

Thoughts on a used STI?

NVHEngr wrote: Well, again the place I'm going to live has changed. With this change comes the need for a different type of car. I will be in northern Africa in a place where the roads in the city are good, but people suggest you get an SUV if you want to get out of the city. I was looking at jeeps and land cruisers that are under 20k. The jeeps seemed kinda boring so I might go with a WRX STI. I know they're completely different but I will be in the city most of the time with only the occasional need to go off road. Thoughts on a used STI?

I would think in that case your choice should be driven entirely by the predominant make of car in the country and what you can get serviced easily.

North Africa...

Armored vehicle.

Sketchy 240k mile F250 Powerstroke Diesel as a daily driver? Sure why not when its $9800 for a crew cab, Lariat, 4x4, 7.3 in the right colors.

That was my thought 2 years ago. Today, 32k miles later, minimal maintenance (ball joints, glow plugs, glow plug relay, starter), I am still happy I made that call.

I always like as new as possible - miles don't scare me

If I were living in Africa and planned to head out into the bush from time to time, I'd want an FJ80 Landcruiser. If you want something sportier, then I'd look at a short-wheelbase Pajero. These two (and the Nissan Patrol) are basically the official SUVs of Africa.

If you're going to spend most of your time in the city, then do what the North African cabbies do and buy a French sedan. Renaults and Peugeots generally do well over rough roads. And they're very well supported on the continent. Many of them are fun to drive as well. And you'll be less of a target than you'd be in something more flashy.

As for the STI, it would be a horrible choice. The suspension is way too stiff for the kinds of roads you will be driving. And there's little support for Subaru. If you want a rally homologation special, you're probably better off with an Evo. Mitsubishi has a good distribution network in the region, so you'll at least have access to parts.

In reply to LanEvo: I lived in Senegal for two years with a celica. I doubt I will be going out of the city too much. I just wanted an excuse to buy an STI because I love those cars. Getting parts won't be a problem because I can get them through the mail. I will have all my own tools and would be performing all the maintenance. I might look at buying a second car when I get to post. I always like the little 205 I saw in West Africa.

@ LanEvo That may be the first time in the history of history that a French car was recommended over a Japanese car due to reliability concerns.

Rusnak_322 wrote: @ LanEvo That may be the first time in the history of history that a French car was recommended over a Japanese car due to reliability concerns.

People love to rag on French cars, but they're surprisingly robust and reliable for the most part. Go to North Africa or the Middle East and see what people are driving. The only cars you see more commonly than old Benzes are old Peugeots.

They were designed to drive in the French countryside on crappy cobblestone/gravel roads and to be easily maintained/repaired by farmers. On top of that, they have excellent distribution networks in former French colonies. If you're going to spend some time in Africa, you can't do much better than something like a 405 diesel.

If you're living outside the USA, the brands and models available change quite a bit.

I'd love a Peugoet 205 Dakar Rally spec tribute car, but maybe it would be best to see what is available. Oh, and watch the episodes of Top Gear where they drive around in Africa- one was looking for the source of the Nile, the other was crossing all kinds of crap in 2wd cars.

It is worth noting that the support vehicles used were Land Rovers.