Used X5 prices are shocking!

[OrangeFurious]

My $14k 4.8is is currently at ~$38k invested. Worth it to me, but these things are not cheap.

[X53Jay4.8is]

Originally Posted by upallnight

But there are plenty of people that can't afford a new BMW or a used CPO BMW, but now the price has dropped down so that instead of buying that couple of years old Kia, they can buy a BMW. They believe all that crap about German engineering, and just assume the car has to be good. It is only later that they realize that they been hoodwinked.

Look at some of the postings on the board these days. It normally start out with I just purchased my first BMW............................................

Agreed the X5 E53 is not an E30, E24, or E34 in that they were just about bullet proof when it comes to today's modern day BMWs. The X5 E53 is like "special needs" but you love it because its a part of your enthusiast experince.

[itsbrokeagain]

Originally Posted by OrangeFurious

My $14k 4.8is is currently at ~$38k invested. Worth it to me, but these things are not cheap.

Christ. Makes me thrilled that my dad taught me how to turn a wrench and those 14 years barely making ends meet as a mechanic werent for naught.

[OrangeFurious]

Originally Posted by itsbrokeagain

Christ. Makes me thrilled that my dad taught me how to turn a wrench and those 14 years barely making ends meet as a mechanic werent for naught.

I don't mind turning a wrench, but there were a combination of factors that drove the price up. Some technical skill (e.g., replacing the transmission), some workspace (e.g., I opted not to rebuild my suspension outside in a cold, wet winter on a highly sloped mountain driveway) and some pure stupid bad luck (tires, tires, oh my god tires).

Either way, I learned an absolute ton about the car, am a better and more confident DIYer, and have something I love for less than I'd pay on a new Mazda. I'm okay with it.

[itsbrokeagain]

Originally Posted by OrangeFurious

I don't mind turning a wrench, but there were a combination of factors that drove the price up. Some technical skill (e.g., replacing the transmission), some workspace (e.g., I opted not to rebuild my suspension outside in a cold, wet winter on a highly sloped mountain driveway) and some pure stupid bad luck (tires, tires, oh my god tires).

Either way, I learned an absolute ton about the car, am a better and more confident DIYer, and have something I love for less than I'd pay on a new Mazda. I'm okay with it.

That's the one thing I don't have the skills for, nor the time, and that's doing the trans. I can do the removal/install but that's the one part of the car I'll have to fork out for. Having access to two shops where I can borrow a lift if needed is a huge benefit that a lot of people don't have. And $30k in tools (mechanic life...Skip eating to afford more tools)

[MINIz guy]

I think these past posts totally missed my point. I'm trying to get rid of my X5 and am shocked at their low prices. My '03 with 140k miles would probably sell for $3k in this market, $4k if I really stretch. Makes getting rid of it tough since I can't replace it easily for $4k.

I posted those vehicles up as I felt that they are cheap enough that I was surprised people on here weren't snatching them up and parting them out. Seems that there would be people on here that would want some unique parts, but I thought wrong. The audience certainly has changed in the years I've been on here.

I'm not really afraid of buying a less-than-perfect vehicle. I know how to wrench on a vehicle well enough to know when to walk away. I could not fathom dropping $4k on a vehicle for maintenance in 1 year, unless I managed to flush $3k down the toilet. If I wanted another X5, I would most certainly get one of the lower priced ones. I like the 4.4 I posted with the tow hitch, could definitely low ball the seller since it was an auction vehicle. The X5 just doesn't tick any of the boxes I need out of a daily.

[caposto]

Originally Posted by OptimusPriM5

These vehicles are 14-17 years old now and people are looking for hassle free living and these are anything but so low demand = low price.

x2

[PropellerHead]

Originally Posted by MINIz guy

I think these past posts totally missed my point. I'm trying to get rid of my X5 and am shocked at their low prices. My '03 with 140k miles would probably sell for $3k in this market, $4k if I really stretch. Makes getting rid of it tough since I can't replace it easily for $4k.

Forgive us, but do take on some responsibility for the thread title that led to confusion:

"Used X5 prices are shocking!"

The point that most of us are trying to make is that the examples you've chosen are not at all shocking. They're buckets of sh!t and they're priced accordingly.

Also, take heart in the market for your car. If we can separate our head from a narrowed view of the E53, basic rules of value will always apply. In stark contrast to the sh!t buckets linked, a well-sorted car (not just an X5) is something that someone actually *wants*. People will always pay better money for a car that is working and well taken care of- even E53's.

To be sure, nearly any car over 150k miles without major maintenance work has a pretty narrow market of wrench turners or wanna be's looking for value. That's not at all shocking either- especially not for an E53.

[MINIz guy]

Originally Posted by PropellerHead

Forgive us, but do take on some responsibility for the thread title that led to confusion:

"Used X5 prices are shocking!"

The point that most of us are trying to make is that the examples you've chosen are not at all shocking. They're buckets of sh!t and they're priced accordingly.

Also, take heart in the market for your car. If we can separate our head from a narrowed view of the E53, basic rules of value will always apply. In stark contrast to the sh!t buckets linked, a well-sorted car (not just an X5) is something that someone actually *wants*. People will always pay better money for a car that is working and well taken care of- even E53's.

To be sure, nearly any car over 150k miles without major maintenance work has a pretty narrow market of wrench turners or wanna be's looking for value. That's not at all shocking either- especially not for an E53.

Yes, I probably should have phrased it as a question.

The $1000 X5 I posted isn't a pile of shit, it's a pile of parts that is worth more than $1000. So why is it worth so little on this forum? Can you not make double your $1k when parting this vehicle out?

A $4500 X5 with a charging problem... you know it was picked up in the $2k range. Getting this running fine will definitely be under $4500 all-in, so why is it such a buyer's market?

If I posted a '03 Suburban with low mileage, no rust, and needed nothing for $4500, it would sell extremely quickly. Yet I couldn't sell mine for that price even if I left $1k in the trunk. And yet these vehicles MSRP'd for similar prices when new and sold to similar audiences.

[PropellerHead]

Originally Posted by MINIz guy

The $1000 X5 I posted isn't a pile of shit, it's a pile of parts that is worth more than $1000. So why is it worth so little on this forum? Can you not make double your $1k when parting this vehicle out?

There's no better answer to that question than your own. The odds that the purchase is less than the transport for anyone here are pretty good. Junk yards flourish because they've made a business of this exact same line of thought. They've all the things I don't: real estate (wheel estate- Ha!), patience, and a working business model appealing to people looking for just this kind of stuff.

I dunno ab you, but I have not often seen someone on this site who purchased a car for part out. Most bought back their own totalled E53 bc they knew the stuff that was worth something. I would not at all be surprised if that air freshener sh!t hole was a mildew mold haven. No thanks. If it's worth it for you, then don't ask why someone else isn't doing it. Do it.

Originally Posted by MINIz guy

If I posted a '03 Suburban with low mileage, no rust, and needed nothing for $4500, it would sell extremely quickly. Yet I couldn't sell mine for that price even if I left $1k in the trunk. And yet these vehicles MSRP'd for similar prices when new and sold to similar audiences.

I'm sorry. The buyer for a lumpy POS like a 15 yr old 'burban and for an E53 are fully different. The cars are nowhere close to the same. Let's take a look:

A bucket 2003 4WD 'burbon trying to be sporty:

An E53 in it's natural habitat (the shop) :

I wouldn't buy a 15 yr old 150k Suburban for anything but a $500 shell. I can only see value in it as a big ole rednecker mud queen for every 3rd weekend of the month. I'd never wash it. Dents would be a welcome change of scenery especially if they were from a tree, beer can, or shotgun. But then, this isn't exactly a Chevy forum now is it?