Auction E60

[sportster]

Anyone knows any background on the following auction E60. At $7.7K per annum seems reasonable, think many car dealers will be keen.

Anybody bought such auction vehicle before? As this is a "as it is condition", is it worth the risk to bid such a car without test drive. I believe at the end of the auction, closing price will be higher than the indicative price.

--->> Used BMW 520i Car for Sale from Singapore, GE Money Pte Ltd c/o Cogent Automotive Logistics - sgCarMart

 

[luohan12]

Re: Auction E60

Few years back i bidded a Honda Accord CL7. Won the auction. And the nightmare started. When i got the car it comes with no keys. Had a hard time to find back the PI and order the keys. After i got the keys i realise the car got quite a few problems. Coilover spoil, steering rack gone case etc...need to spend almost 10K to repair everything. End up i sold the car straight away. For nothing lose alot of $$$$$

Definitely not advisable to buy an auction vehicle. Super bad experience.

 

[opulentgroup]

Re: Auction E60

I went down to check out the car, the interiors look fine, the paintwork is terrible, needs a good respray.

This kind of things, is heng suay... but at 7.7 depri, it sure looks like a good preposition, even the 320's are going for 8++ to 9

 

[sportster]

Re: Auction E60

I went down to check out the car, the interiors look fine, the paintwork is terrible, needs a good respray.

This kind of things, is heng suay... but at 7.7 depri, it sure looks like a good preposition, even the 320's are going for 8++ to 9

When you were there, did you see the car come with the key transponder? I do understand some owner will return the keys back to the finance company for auction. Are you going to put in a bid? Car dealers will bid for this car and do up the paintwork for resale. Btw, a new paintwork can be done for around $800 for same color respray. There are some good reasonable spray painter around in Kranji loop.

 

[sportster]

Re: Auction E60

Few years back i bidded a Honda Accord CL7. Won the auction. And the nightmare started. When i got the car it comes with no keys. Had a hard time to find back the PI and order the keys. After i got the keys i realise the car got quite a few problems. Coilover spoil, steering rack gone case etc...need to spend almost 10K to repair everything. End up i sold the car straight away. For nothing lose alot of $$$$$

Definitely not advisable to buy an auction vehicle. Super bad experience.

I bidded for a W124 Merc from a foreign bank many years back for the sake of it's "888" number at close to paper+body value. Car need some repair but I decided to scrap it after 2 weeks and retain the number. Usually, auction cars are much cheaper than the market, should be able to offset some of the repair bills if the bid amount is low

 

[CKY]

Re: Auction E60

Bro,

How is the mileage? Few years back, i bidded for a used E46, 01 model, 03 transfers,mileage 160,000km, Awarded price was dirt cheap. Depr abt 7K/per annum. Mkt was called for almost 11k for this 320I,2.2 lits

The day when i collect the car, to my surprise, there isn't any key !!! Spent 500 bucks to get a locksmith to get it done and also 300 bucks for a "OEM" key...One week later, gearbox KAPUT and follow by aircon compressor and engine oil started to leak all over the place. Spent almost 4K++ to get all things done. Thought my nightmare is over till i went to JB for a dinner, i was stopped with the JB custom and the outstanding summons was around RM1200+ consists of 7 tickets...Nego a little and paid RM800.00

One month later at Centrepoint, the whole car was vandalized and the 4 tyres are punctured !!!

Hold the car for almost 6 mths and decided to export the car and lost a few K for this period.

Hence, think twice especially a REPO car !

Cheap stuff dont comes good, it always due to our greeds that commits such act

Troll

 

[sportster]

Re: Auction E60

Mileage stated is 83,000km for the Jun'04 E60. Buying repo cars, suggest better to bid for a new car number plate as the owner may be in dire straits, don't know owe how many creditors $$$.

 

[Mockngbrd]

Re: Auction E60

gotta realise that these repo-ed cars.. the ex- owners no $$$ to service the loans, how to service the car?

 

[JLMC]

Re: Auction E60

Mileage stated is 83,000km for the Jun'04 E60. Buying repo cars, suggest better to bid for a new car number plate as the owner may be in dire straits, don't know owe how many creditors $$$.

I went down to view that car too, as my bro-in-law wanted to chk it out.
car front seems to hv accident b4, some tell-tale signs on poor re-spray n scatched under bonnet. car has 2 keys, but 1 of it not working, so cant be used.
LCD display working but looks very bad shape in terms of color contrast. may need to change too.
PIC say dealers r going to bid abt $70k+
paper abt $55k+body = $63k max.

my conclusion, its for those who wish to own a 5 series, drive for 1 yrs n re-export.
thats fine. but to bid more than $65k, better give up.

 

[CKY]

Re: Auction E60

Mileage stated is 83,000km for the Jun'04 E60. Buying repo cars, suggest better to bid for a new car number plate as the owner may be in dire straits, don't know owe how many creditors $$$.

Strongly agreed. Is better to pay an extra S$1.3 for a new number plate rather than paying S$13.0K later..Those ppl out there knows only the car number and not the owner..

 

[sportster]

Re: Auction E60

I went down to view that car too, as my bro-in-law wanted to chk it out.
car front seems to hv accident b4, some tell-tale signs on poor re-spray n scatched under bonnet. car has 2 keys, but 1 of it not working, so cant be used.
LCD display working but looks very bad shape in terms of color contrast. may need to change too.
PIC say dealers r going to bid abt $70k+
paper abt $55k+body = $63k max.

my conclusion, its for those who wish to own a 5 series, drive for 1 yrs n re-export.
thats fine. but to bid more than $65k, better give up.

Current highest bid stand at $69.5K. A good condition reasonable mileage 6 yrs old E60 body, direct exporter is taking in around $14K,. Even if it is is in mint condition with be worth at least $11 to $12K. Not possible $8k body for a E60, must go direct to the exporters, not those car dealers exporters to get a good quote

 

[sportster]

Re: Auction E60

Auction bid won by a car dealer, whom may have touch up the car for resale. From the pic, the car looks grossy, could have undergone a paintwork respray. Can check it out for those who are keen

-> Used BMW 520i Car for Sale from Singapore, Faster Auto Trading - sgCarMart

 

[JLMC]

Re: Auction E60

Auction bid won by a car dealer, whom may have touch up the car for resale. From the pic, the car looks grossy, could have undergone a paintwork respray. Can check it out for those who are keen

-> Used BMW 520i Car for Sale from Singapore, Faster Auto Trading - sgCarMart

lets all press that dealer to $69k, we all take turn to "view" car, test car, then offer $69k...
then maybe he will realise market rate is really 69k

 

[Dinan]

Re: Auction E60

wonder why dealer left out mileage details....hmmmmm...:thinking:

 

[longhorn]

Re: Auction E60

lets all press that dealer to $69k, we all take turn to "view" car, test car, then offer $69k...
then maybe he will realise market rate is really 69k

this episode probably made me think twice about buying car from dealers. if i hadnt seen this thread, i wouldn't know this is an auction car. then kena smoked big time....

 

[JLMC]

Re: Auction E60

this episode probably made me think twice about buying car from dealers. if i hadnt seen this thread, i wouldn't know this is an auction car. then kena smoked big time....

so now u know members has its privilege..:woowooo:

 

[C3P0]

Re: Auction E60

so now u know members has its privilege..:woowooo:

Agreed. Great information sharing here. Superb forum.

(Also, can see JLMC and Dinan's signatures. Well worth the effort to read this thread. Ok, sorry for OT...)

 

[leebmer]

Re: Auction E60

bmw-sg FTW...

 

[__iceman__]

Re: Auction E60

wonder why dealer left out mileage details....hmmmmm...:thinking:

Its an open secret that dealers will adjust mileage of BMWs coz low mileage WILL sell.

I sold off my 6 yr old 325ci to dealer at 99,000km. 2 days later, it appeared in SGcarmart at 80,000km. At least that dealer was not really pushing his luck, but trying to lower a little bit so that the exporters will still take in. (cars above 100,000km, no export market...)

I have a friend who is a car salesman. And he spotted a trade in BMW to buy for himself. But he was just 1 day late... the moment the car went into dealer's hands, the mileage immediately got a 40% discount


This is why service history, and the car's history is important. For me, its simple. I want to see service history either by PML, or even workshops - there should be a proper paper trail of maintenance, with mileage recorded at the intervals. You can then judge whether the car has been regularly maintained, and whether the mileage is true or not.

I could not believe it when I found my 4.5yr old 530i to have 36,000km too. Broker said that owner has quite a few cars, and also selling off a Maser, Range Rover, and Lambo. I had to verify history with PML, and also send for a very detailed check by my trusted mechanic before realizing it was true, and the rest was history. Money paid and car transferred within 24 hours!

 

[longhorn]

Re: Auction E60

....... I had to verify history with PML, ...

so if i just call up PML and say i want to check svc history of SBJ6969 (for example), they will just tell me? even if i'm not the owner?