Debating getting an m5

s14driftking

ive come to a stage where im really debating getting rid of the 330d and getting an m5 e60 model.
I don't do much driving anymore since starting back to work and seruiosly considering heading to England in the new year and picking one of these up as fuel costs aren't such a big issue any more less than 2000 miles since june this year.
What I need to know is what kind of running costs are associated with cars like this service costs tyre wear other costs.
now I know the price of tax would be high but how long do u think a person would get away with travelling on English plates for with a car like this. Before any starts the debate saying I defrauding the government out of tax etc I don't want to hear it, if vrt and tax on such a car was reasonable id have no problem doing either or paying.
also what would be involved in registering one of these as possibly a limousine and doing a few weddings debs etc a year would it pay is there much demand for a service like this in todays day and age.

challengemaster

You've 30 days to register it ones its in the country.

It's also illegal for an Irish resident to drive a foreign registered car in the ROI. So if you find any checkpoints, your car is gone and you're in the shít.

DuckSlice

Well I would have one as a wedding car for sure. I think you would get a bit of business with it. Young lads going to debs and ****e.

As far as running costs, they are a fairly solid car, but you would have to have an emergency fund just in case anything did go wrong with it, I'm not sure on common problem but someone on here will know.

English plates wise It depends where you live and also how active the customs/Garda are in your area. But what you have to be careful with is your insurance, I don't know will an irish company cover you on uk plates.

Supergurrier

Expensive car to run/service and at any checkpoint it will stick out like a sore thumb.

Brush up on your cockney accent and prepare for the worst should it come to being caught.

"Morning guvna what cha mean I'm oirish yer avvin a giraffe mayte"

Etc

Atlantic Dawn

Your insurance company in Ireland legally have to tell Revenue of any foreign registered car they have insured after about 30 days it it hasn't been reregistered, this will alert Revenue to your address and likely seizure. You won't be able to insure it with the UK company as you will need a UK address.

Would it not be easier to buy one here? There's 5 previous model M5's going for around the €10k mark.... www.driving.ie/usedcars/index.cfm?fuseaction=search&sortby=PriceAsc&maxrows=100&Make=BMW&Model=M5&GroupID=738

oo7tk

I have an E46 M3 and was looking into an M5 or M6 and was warned off both due to them giving gearbox problems and vanos problems... They say there the weaker of the M Performance cars made in recent years..

For the performance you get they usually are pretty reliable if well looked after but they will be huge money to fix if something does go wrong...

aristotle25

Tyres will be pricey, expect to be paying around €1,000-€1,100 for 4 and you won't want to buy budget tyres for a car like this.

I will buy one myself when I am doing less mileage.

oo7tk

I think with a car like this if you have to worry about the price of general maintenance its not the car for you.. As aristotle25 you need to spend at least that on tyres or you may as well not have the power..

There was one for sale on DD in Wexford for €13,500 but i bet if you bought it you would end up spending at least 4k or more before its right...

daRobot

To be brutally honest, the fact that you want to drive it on UK plates, and are looking into the registering it as a limo, suggests to me that running this car (not purchasing), will be beyond your means.

You almost need one of these with an extended BMW warranty, as any issues will be thousands to fix, not hundreds. And they regularly go wrong. Vanos issues, SMG pump, transmission replacement.

Tax, Petrol, Insurance & Tyres are the relatively cheap things when running one of these. Either get one with a BMW warranty, or keep a 10k contingency fund. If you can't do either, don't do it.

TheBazman

Had one for around 9 months. Fantastic car and despite the concerns I had no surprise issues. Servicing was in line (from an Indy) with my current 535d, as were tyres, and tax. Insurance was only 50 euro more than the 535d. The main issue is the worry that "if" something goes wrong then it is $$$.

There are a few for sale here and would obviously need a thorough check but they probably work out better value than importing, if you can live with the limited selection.

I do quite a bit of motorway driving and could not under any circumstances average over 19mpg for any reasonable period. City driving your talking 10 - 12 mpg.

The gearbox does take quite a bit of getting used to - in auto it doesnt always change when you think it should, and can be a little clunky. I tended to go with the paddle shifters in town.

In relation to using one as an event car - I dont think this would work in the main. Most people would look at it as just another 5 series and not that special. I dont think there would be a big enough market of car enthuasists to make the business worthwhile.

bmstuff

Set up a medical doctor practice or your own private ambulance business and buy the car through the company like this fella did in the UK..

Idbatterim

I read a thread about the M5 recently and it was just saying how much more complex the E60 is over the E39. Tax is a given, fuel is easy enough to work out, insurance is what you would want to find out. Then the other costs are depreciation, loan interest (if applicable) and general wear and tear, servicing etc and fingers crossed nothing major goes wrong...

Expensive car to run/service and at any checkpoint it will stick out like a sore thumb.

true but nothing to worry about once your complying with the law. My car would stick out even more than a stock M5 and I couldnt care less when approaching check points...

There have been a few E60 m'5 up for less than 15k not too long ago, if I recall correctly...

You've 30 days to register it ones its in the country.

I thought this was changed not too long ago and it now has to be the same day?

bmstuff

Idbatterim wrote: »

I thought this was changed not too long ago and it now has to be the same day?

That's the other way round mate, it was within 24h for years until some european court order stepped in and now it is 30 days

discodavie

aristotle25 wrote: »

Tyres will be pricey, expect to be paying around €1,000-€1,100 for 4 and you won't want to buy budget tyres for a car like this.

I will buy one myself when I am doing less mileage.

A grand will only buy you a pair if them. I bought an oil service kit recently as I was getting it serviced again ,oil , plugs and filters only....500 .... And it only goes up from there.

listermint

Hi OP,


If you are coming into this (and it looks like you are) with ways of ultra minimising the cost (no VRT and next to nothing tax) then i assume you dont have the money to be spending on one. This car will eat your cheque book alive. And it requires good care and good maintenance to keep it right. If you are pinching the pennys from the start just to get in one in the first place then put your idea on the back burner because you will only be disappointed both in how much you can spend (on a good one) and the the up keep of it afterwards.

Being frank, Of course its a fancy for all of us to own such a car but some of us just cant stretch to its up keep.


There are serious issues around the gearbox on this vehicle buying a cheap one is madness.


As an aside, if you do have the money. why would you not look at Irish ones. Better value here due to tax purposes.

veetwin

Atlantic Dawn wrote: »

Your insurance company in Ireland legally have to tell Revenue of any foreign registered car they have insured after about 30 days it it hasn't been reregistered, this will alert Revenue to your address and likely seizure. You won't be able to insure it with the UK company as you will need a UK address.

Would it not be easier to buy one here? There's 5 previous model M5's going for around the €10k mark.... www.driving.ie/usedcars/index.cfm?fuseaction=search&sortby=PriceAsc&maxrows=100&Make=BMW&Model=M5&GroupID=738

First I heard of this. Any source?

spyderski

+1 on what everyone above says - Just 'cos you can afford to buy it doesn't mean you can afford to run it. If you are concerned about the things you've mentioned, basically you cannot afford the car. If you decide that you can, you would be MAD to buy a UK car. They are more expensive to start with, then you will either have to pay the VRT or spend your life dodging the issue. Thats why people are EXPORTING these out of Ireland to the UK - they get stronger prices and you can claim back the VRT.

Most of the Irish cars will be fairly well looked after - if not they'd blow up fairly quickly. The SMG gearbox is a nightmare if something goes wrong. And the tyres WILL be nearer €2k than €1k. Even if you are only doing 2,000 miles per year it will need an annual service at around €1,500 from a main dealer.

A mate of mine had one when the E60 came out. He also has a Ferrari 430 and he reckoned the running costs were similar. He reckoned if you used any of the power at all the M5 was doing around 12mpg. He changed it after 12 months and bought an X5 35d to use as the daily driver. I drove it (the M5) a couple of times and it sounded like a diesel at tick over, and the gearbox feels like its going to explode under power. BUT it was some yoke to go all the same ;-)

DuckSlice

listermint wrote: »

Hi OP,


If you are coming into this (and it looks like you are) with ways of ultra minimising the cost (no VRT and next to nothing tax) then i assume you dont have the money to be spending on one. This car will eat your cheque book alive. And it requires good care and good maintenance to keep it right. If you are pinching the pennys from the start just to get in one in the first place then put your idea on the back burner because you will only be disappointed both in how much you can spend (on a good one) and the the up keep of it afterwards.

Being frank, Of course its a fancy for all of us to own such a car but some of us just cant stretch to its up keep.


There are serious issues around the gearbox on this vehicle buying a cheap one is madness.


As an aside, if you do have the money. why would you not look at Irish ones. Better value here due to tax purposes.

I would have to agree with the above. I remember 2 years ago the engine went bang in my impreza so I was looking at going to an m3. I had to stop myself going to look at one as I knew if I did I would buy it. I had the money to buy it no problem but I would have zero money left if anything went wrong.


When I was looking for an m3 I remember they were cheaper in Ireland, because of the massive tax.

GavMan

challengemaster wrote: »

It's also illegal for an Irish resident to drive a foreign registered car in the ROI. So if you find any checkpoints, your car is gone and you're in the shít.

How do you get it from the ferry to the NCT Centre? Surely you're not expected to tow it...

discodavie

discodavie wrote: »

A grand will only buy you a pair if them.

You will get a good set of tyres of camskill for the M5 and get them fitted for around 1k.

Supergurrier

Import a Vauxhall monaro instead and become my new best buddy and let me borrow it

MercMad

aristotle25 wrote: »

Tyres will be pricey, expect to be paying around €1,000-€1,100 for 4 and you won't want to buy budget tyres for a car like this.

I will buy one myself when I am doing less mileage.

........a set of tyres for a 520d cost €960 to us last month. I reckon an M5 would be €1500 easily.

There's a massive clamp down on foreign cars so I doubt you would get away with UK plates for more than a few weeks. At that point the regulations kick in so you would have to VRT it, pay the fine/s, tax it/back tax it etc........thats if you are lucky enough that it isn't seized.

As far as running it as a limo, you would have to register it as such, go through the carriage office tes, have commercial PSV insurance, PSV licence and a VAT number, and probably a lot more.

Also..........I reckon they are cheaper to buy here as the guys mentioned !

TheBazman

I bought new Continentals for just under 300 each.

DuckSlice

Austin Bald Map wrote: »

You will get a good set of tyres of camskill for the M5 and get them fitted for around 1k.

michelins on camskill, the ones i looked at anyway, were 1k sterling, before delivery and fitting

etxp

etxp wrote: »

michelins on camskill, the ones i looked at anyway, were 1k sterling, before delivery and fitting

Yeah but you can get very good tyres without spending money on michelins. You could get a set of Falkens 453's for around 720 stg so include fitting and euro conversion and you have it all in for less than 1k euro.

I know someone running them on their M5 and they are very good.

Carlo11

I wouldn't advise trying to escape paying the VRT. It took me longer than 30 days to register my new car. When I went into the NCTS I was fined 0.15% per day over the 30 days allowed. I ended up paying an €800 fine. And this is with quite a good excuse for not being able to pay it on time. The days of NCTS turning a blind eye to the delay in registering the car seem to be gone.
I live in Cork and have seen customs on the road maybe 4 times in the past 3 years so the chance of getting caught early are probably slim.
Also, when I imported my previous 520d my insurance company told me they would only pay half the premium as long as the car was on UK plates.
Hope this helps.

aristotle25

MercMad wrote: »

........a set of tyres for a 520d cost €960 to us last month. I reckon an M5 would be €1500 easily.!

Yeah probably closer to 1500 than 1000 but depends on what you buy and where.

For a 520d or any other car it depends on the wheel size you are fitting to as well. Bigger/wider wheels will cost more to get tyres for.

Paddy@CIRL

I think the simplest thing to factor is that it maybe a €15,000 or €20,000 car to buy, but it's still a €150,000 car to own and run.

Caliden

That v10 though....

conzy

Its (one of) my lotto cars.

Really need to own one before I die / they are all scrapped

discodavie

Austin Bald Map wrote: »

You will get a good set of tyres of camskill for the M5 and get them fitted for around 1k.

they are the wrong speed rating, should be zr but if your not going to be doing 200mph then they would do,

285/35/19 x 2 rear
OUR PRICE £261.90 inc.VAT

255/40/19 x 2 front
OUR PRICE £176.70 inc.VAT

£877.20, same as 1k, and then you need to get them fitted and balanced

but ill stick to my pirellis

discodavie

discodavie wrote: »

they are the wrong speed rating, should be zr but if your not going to be doing 200mph then they would do,

285/35/19 x 2 rear
OUR PRICE £261.90 inc.VAT

255/40/19 x 2 front
OUR PRICE £176.70 inc.VAT

£877.20, same as 1k, and then you need to get them fitted and balanced

but ill stick to my pirellis

I would buy the Falkens before Pirellis to be honest even if the cost was the same. They are a very good tyre.

DuckSlice

Re: driving around on uk plates. I just got busted this evening for having English car, luckily my insurance covered it in this country so the Garda weren't called. The fine was 10% of the value of the car

vibe666

etxp wrote: »

Re: driving around on uk plates. I just got busted this evening for having English car, luckily my insurance covered it in this country so the Garda weren't called. The fine was 10% of the value of the car

English or Irish insurance?

EoghanIRL

We have an m5 at home . Amazing car , I love it anyways. People do seem to stare at it aswell or so I've noticed.

DuckSlice

vibe666 wrote: »

English or Irish insurance?

English

irish bloke

Insurance wise just give a friends/relatives address. VRT wise I know a lad driving around on English plates since 2010 without getting caught. Reckons if he got caught the VRT would be more that the car is worth so they could take it off him.

vibe666

etxp wrote: »

English

but I'm guessing you're Irish?

I'm almost certain (and I know Irish law says otherwise) that under EU law you are perfectly entitled to drive any EU registered vehicle in any EU country with a valid EU driving licence as long as it is fully legal with the relevant tax, insurance and NCT/MOT.

I can't remember the exact details of the law, but it is something to do with freedom of movement and a car being your property and there being no legal entitlement for your property to be seized without due process under the law and EU law would trump Irish law in this regard.

I'm sure the garda and Irish courts aren't going to see it that way, but I imagine that the EU courts would take a dim view of Irish law acting as the proverbial stickup artists at the side of the road demanding the VRT on a non-Irish vehicle before you can drive an otherwise legal car on the roads here.

DuckSlice

vibe666 wrote: »

but I'm guessing you're Irish?

I'm almost certain (and I know Irish law says otherwise) that under EU law you are perfectly entitled to drive any EU registered vehicle in any EU country with a valid EU driving licence as long as it is fully legal with the relevant tax, insurance and NCT/MOT.

I can't remember the exact details of the law, but it is something to do with freedom of movement and a car being your property and there being no legal entitlement for your property to be seized without due process under the law and EU law would trump Irish law in this regard.

I'm sure the garda and Irish courts aren't going to see it that way, but I imagine that the EU courts would take a dim view of Irish law acting as the proverbial stickup artists at the side of the road demanding the VRT on a non-Irish vehicle before you can drive an otherwise legal car on the roads here.

yea im irish, when i bought the car i lived in england and just carried the insurance on when i moved home. but didnt have the car long enough to get the free changeover, and was actually gonna do it in 2 weeks when insurance was up but got caught so actually have to do it within a week. oh well thats life. but i would hate to think what 10% of the value of an m5 would be if he got pulled by customs.

vibe666

etxp wrote: »

but i would hate to think what 10% of the value of an m5 would be if he got pulled by customs.

not to mention that it's 10% of what they deem the value to be,not what you actually paid for it.