Putting 25K Miles on a 2007 BMW M6 While Earning $190 Per Month
The E63 M6 is an amazing all around GT car. From its 500 HP V10 to the luxurious 7 series like cabin, the car is not only fun to drive, beautiful to look at, but loaded with options if purchased right. It ranges in price based on options but you can expect to pay $95,000-$120,000 for a new coupe, but it depreciates VERY fast.
For our BMW M6, we bought a 2007 M6 in 2010 that had a late 07 in service date, but further more, we bought the car from a BMW dealer who certified the car. So we bought a 2007 car with 1 year of factory warranty left and 2 years of CPO warranty left. We bought our car with 40k miles, which means decent miles considering the car was 3 years old but found a very well optioned car at the same time with unique options like soft close doors, carbon trim, HUD and much more.
Our car had an original MSRP of $124,000 for a coupe, which was a very loaded car and was very mint in condition. We picked it in a Silverstone 2 metallic option, which was highly desirable. The trick was we found a car that was sitting in New Jersey at the Circle BMW dealership during winter and had been sitting there for 60+ days.
Buying Guide Shortcuts
2006 – 2010 BMW M6
MSRP NEW: $124,000
Depreciated 5 year Retail value: $30,000 – $40,000
Depreciated 5 year Auction value: $20,000 – $30,000
Average Mileage for 5 year ownership: 40,000
Good Mileage for 5 year ownership: Under 60,000
Options Preferred: Comfort access, premium sound, carbon trim
Purchase price: $46,000 + Tax + fees = $49,000
Financing: $46,000 / 84 Months at 3.49% = $650 per month / $3,000 down
Total payments: $650 X 11 months = $7,150 of actual payments made
Other expenses during 11 months:
– Maintenance: $400
– Performance Mods: $600
Total Invested in car through the 8 months of ownership: $50,000
Sold for: $47,900
Total Profit: $2,100 / 11 months = $190 a month.
We drove our car with a full warranty, peace of mind, and with some of the best options out there. We paid $49,000 including all taxes and paid $1,000 in interest on our loan over 11 months before the car was sold. We sold the car for $47,900 which means we lost just under $2,100 on our investment after driving it 11 months and about 25,000 miles as a daily driver.
I originally said we had a car for about the cost a Jaguar lease, but if you account the true cost of the car itself once you sell it, then consider that we paid $2100 over 11 months or about $190 a month for a $120,000 BMW M6 with full warranty which is less than a standard VW Jetta during one of VW’s best promotions.