I have been wanting to buy a e55. My partner is a licensed car broker gave word of a 2004 e55 with a clean title up for sale. Details given so far, 250k on the clock, currently slammed suspension, clean title, service soon engine light active. The car has been at this dealer only auction for 2 weeks with no bids. I can bring it home for $2200 + tax/fees if I dare. This is a repo that is running. If the car is still there this next Tuesday I will take a look. But for now, any insigh would be appreciated.
I have been wanting to buy a e55. My partner is a licensed car broker gave word of a 2004 e55 with a clean title up for sale. Details given so far, 250k on the clock, currently slammed suspension, clean title, service soon engine light active. The car has been at this dealer only auction for 2 weeks with no bids. I can bring it home for $2200 + tax/fees if I dare. This is a repo that is running. If the car is still there this next Tuesday I will take a look. But for now, any insigh would be appreciated.
Will this be your sole daily driver? If so, then NO.
If you are buying an extra car to play around with, or you at least have a backup car you can drive, then it may be worth considering. What condition are the body and interior in? What are your plans for the car?
Do you have the option of seeing it run, or at least scanning for stored codes? The high mileage would not scare me off (I take my 220k mile CLK55 to the dragstrip about twice a month), but if the engine is burning oil or if the transmission has stored codes I might think twice, even at that price.
1) Repo - A broke kid couldn't afford the car. Which usually means they couldn't afford the maintenance on it either.
2) Mods - I see the car has a hood emblem delete, aftermarket steering wheel and pedals. These are cheap mods and although aren't performance related still indicates the car was raced around.
3) Mileage - 250k miles on any car is high, especially a hot rod that's been owned by a bum and you don't know the history.
4) Market - I bought my 2005 E55 with 120k for $8k.
I'd buy it for sure at that price and just beat on it until it died. It'd be easy enough to do a partial part out at that point and make your money back.
If you're mechanically inclined, and don't mind a bit of a project, that's probably a great deal. If you would need to take it to a shop or dealer for all repairs, it's probably a money pit and not worth fixing it up (unless you just want to beat on it until it stops going).
$2200 is starting to look like a gamble worth taking. I am mechanically inclined, mostly American vehicles, capable. The car runs, service engine soon light in effect, no code reader allowed in auction grounds.
2) Mods - I see the car has a hood emblem delete, aftermarket steering wheel and pedals. These are cheap mods and although aren't performance related still indicates the car was raced around.
The emblems are cosmetic. The steering wheel is $800-1000. The pedals are OEM upgrades.
Check it out in person. Doesn't look like its in too bad of shape, by the pictures. If the car runs and drives fine, then why not? These cars are extremely robust. I see 80s BMWs with 200k+ driving around regularly, these are certainly more reliable than those cars.
I will not be able to drive the e55 (auction rules). I will be able to start and inspect as much as possible in person. Tuesday or Wednesday should be the day of inspection.
As long as you're willing to part it out, it's not a huge gamble. Of course the transmission could be shot, the engine could be shot, or the suspension could be broken -- all of which put it at losing odds vs a 150k-mi E55.
I’m going to bet within 3 years or 40k miles you’ll be into $7k+
I'm 7k in on mine and it was already in "good" condition, I bought it a year ago for 14.5k. Granted a lot of it was in mods and work done at mechanics that I could have done myself in hindsight.
The way I see it, this could either be a terd, in which case will cost your tons of money to address its many issues now and in the future.
Or could be a jewel, that just needs some TLC. But the choice is yours, and yours alone. But I would take some advice from those that own E55's.
I say go for it! This will be a testament to the next chapter in the car's life to determine what wears out next and what components are still strong\healthy. You could blog it on YouTube and share it with the world along the way, which would be a valuable resource for all owners after all the cars are not getting any younger.
I'm 7k in on mine and it was already in "good" condition, I bought it a year ago for 14.5k. Granted a lot of it was in mods and work done at mechanics that I could have done myself in hindsight.
I bought mine almost 10 years ago other than regular maintenance brakes, tires, oil, filter, I only spent $2000 (ABC brake, water pump brake switch, valve gasket and CPS). Plus about $2K to convert coilover so no suspension issue at all. My car has 115K miles now !
I bought mine almost 10 years ago other than regular maintenance brakes, tires, oil, filter, I only spent $2000 (ABC brake, water pump brake switch, valve gasket and CPS). Plus about $2K to convert coilover so no suspension issue at all. My car has 115K miles now !
I am over $10k in 3 years
150k miles
your day will come
Every car will need repair just matter of time. Even Toyota and Honda will have problems after 100K miles.
And my CLS55 for the last 3 years only oil and filter change.
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