2004 BMW 760li @ 10% of original MSRP?

Ran across this AD today and couldn't believe the drop in price from new. I don't have $13K to spend but the price drop on this car is amazing. I verified the resale price with Edmunds and the owner is right in line with his price.

2004 760li

Are these things notorious for problems or did it just come out of warranty and the owner is "I'm outta here" after seeing a recent repair bill? I can't believe fixing anything on this car would be cheap. What a car for $13K though.I wish pimpin was easier as this would be fun to roll in.

most highend luxury vehicles take a -huge- hit on depreciation. What you are seeing is quite typical

The 7-series BMW is perhaps one of the most startling cases of the value of a high-end luxury car falling through the floor after it gets out of warranty. I think budgeting 50 to 100 percent of your purchase price ANNUALLY should cover necessary repairs.

1988RedT2 wrote: The 7-series BMW is perhaps one of the most startling cases of the value of a high-end luxury car falling through the floor after it gets out of warranty. I think budgeting 50 to 100 percent of your purchase price ANNUALLY should cover necessary repairs.

Or just LSX-FTW and be done with it?

These are notorious for their ridiculous reseale, as well as the big Benz CL coupes from the early 2000's. Essentially, everything is insanely expensive on them to repair, and my guess would be because their laden with electronics and computers. But, they'd probably be a great deal for a BMW or Mercedes service tech that has the means and know-how to repair them.

This is usually when I start to see these cars around the tougher parts of my neighborhood looking downtroden and missing the days they spent in a nice climate controlled garage and tree-lined driveways.

Datsun1500 wrote: They are at the price point where people that can afford them, can't afford to do the services. People that can afford the service, don't want a 10 year old car.

Exactly. This.

That generation is also the ugliest and least-loved 7-series. When I see one of those on the road these days it usually has 20" chrome rims, two-tone paint and pumping bass music.

tuna55 wrote:

1988RedT2 wrote: The 7-series BMW is perhaps one of the most startling cases of the value of a high-end luxury car falling through the floor after it gets out of warranty. I think budgeting 50 to 100 percent of your purchase price ANNUALLY should cover necessary repairs.

Or just LSX-FTW and be done with it?

The engine isn't the expensive part. Various electronic modules at $600-1200 a pop are.

I like the Audis where the $500 wiper linkage fails on a regular basis, and when it does it takes out the $1200 windshield.

Datsun1500 wrote: They are at the price point where people that can afford them, can't afford to do the services. People that can afford the service, don't want a 10 year old car.

That's the most concise way of describing the issue.

Just because you can afford the car doesn't mean you can afford the car.

They can be a good buy if you have more than one car and can do the repairs yourself. Parts are expensive but I find the big Germans to be a breeze to work on because of their size (room to get to things).

Just jumped on my local CL and bam 6 cars down.... here's another one. http://boston.craigslist.org/gbs/cto/3963505558.html

I just don't understand why anyone would want one other than to have someone drive you to and from your fancy office.

If you want a big car for the family, get a suburban or something that can tow.
If you want a sports sedan get something that isn't a barge (CTS-V?).
If you want something that's crazy luxury, get an old Rolls Royce.
If you just want a new sedan to show off get a Tesla.

I don't see the point of this car at all.

JohnyHachi6 wrote: I just don't understand why anyone would want one other than to have someone drive you to and from your fancy office. If you want a big car for the family, get a suburban or something that can tow. If you want a sports sedan get something that isn't a barge (CTS-V?). If you want something that's crazy luxury, get an old Rolls Royce. If you just want a new sedan to show off get a Tesla. I don't see the point of this car at all.

Ayup.

If you want an "executive" German car, just get an A8/S8. Luxurious expansive interior room - hell, put some plastic on the carpet and drive your Miata into the back seat, it'll probably fit on the floor, especially if you get an A8L. And thanks to the aluminum chassis, they weigh about the same as a midsize car, so they are surprisingly agile.