Guess I'll weigh in here... just purchased my 2005 4.4i sport in June. Have put ~2500 miles on it since purchase. Bought it with 109,500 miles on it for $10000 out the door at one of those smaller dealerships. Had $$$ in order so no haggling about financing. Had it priced at $11000 + TT&L.
So I thought (and still think) I got a decent deal. Good body, few nicks and scratches, but nothing out of the ordinary. One quarter-sized ding on the car and no scratches longer than an inch. Had a completely new cooling system (rad, water pump, expansion tank, etc). Looked like it had been hit in the front because some parts still had BMW parts labels on them... but the work was done with OEM parts and looked good. So I was cool with that. Had clean carfax though. Needed tires bad... bald all the way around. Rear alignment was out ~1.5 degrees on both sides. Nav screen has spots, one regulator is out, one door panel was not re-installed correctly (assumed and confirmed later because of regulator replacement), etc. Nothing out of the ordinary for a used BMW. I buy a lot of them.
No big deal. Get it home (200 mile drive to San Antonio from Houston) to have a good look at it on the ramps. I had already replaced the wheels and tires in Houston before driving the thing home. Had a local shop order them to have them in stock before I went up to pick the vehicle up. Has pretty good oil leak. Needs upper timing gaskets (possibly lowers), valve cover gaskets, various seals for sensors or adjustment units. Needs front suspension component (not id'd yet). Needs rear window regulator, new homelink button due (I'm OCD about this type of stuff) to worn number. Pass folding mirror is wonky.
Ok, bear with me... I know this post is getting long. Including the 20" wheels, tires, parts to repair everything mentioned (minus un-id'd suspension component, and folding mirror parts), mods, and alignment I've spent about $2200. This is TOTALLY normal for almost any used BMW that you don't pay a huge premium for with full service records. I budget that extra coin into any used bimmer purchase. I've had 13 of them now I think, and currently own 4 with a 5th on the horizon for the wife.
Would I do it again? Yes, in a heartbeat... because I know how to work on BMW's, though admittedly this is my first X5. If I had to pay someone to fix everything I would definitely steer clear. But this thing handles really well for any vehicle, let alone something this heavy. The torque from the N62 is addictive. And the thing still looks really good.
