Questions about used high end luxury cars?

OutlawTitan · 02-16-05, 10:03

I was looking at possibly buying a 2000 BMW 740 iL or 750 iL or a 2000 Lexus LS 400. I can probably get one of these in great condition for around the mid $20's or high $20's for the 750 iL with something in the neighborhood of 60-80K miles on them. It would be a lot of car since they originally cost $60-90K. I don't know much about the Beamers but I know the Lexus would probably be bullet proof for several more years.

My question is how much upkeep money am I looking at here? How reliable would the BMW's be over the next 50-60K miles? Any recommendations or voices of experience out there? More importantly what should I be on the lookout for? I assume timing belt/chain would be pricey?

GoodnClean · 02-16-05, 10:25

A lot, even for the Lexus. For instance the 90k maintenance on the LS400 is almost $2000 from the dealer. My guess is that service from BMW is $2200 or so and the 750iL's is probably close to $3000.

A lot of it depends on any source of discounted parts you can find or any sort of independent shops you can find to service the car once you have it. This will make the Lexus cheaper than the BMW because BMWs have sophisticated (and expensive) diagnostic equipment that Lexus doesn't have, meaning any independent shop that wants to work on them has to buy it.

BMWs are mechanically very reliable, the difference between them and the Lexus is the electrical malfunctions that are expensive and somewhat common.

Now keep in mind I'm talking about the 740iL. Really think about what you're doing before you buy a 750 because that V12 is hugely expensive to maintain I'm sure. Stop by a BMW dealer and ask to see some maintenance packages on 740iLs and 750iLs and compare them. For info on the Lexus drop by us.lexusownersclub.com we have a large group of Lexus owners with many who bought 00s pre owned.

All are great cars, I personally would stay looking at the 740 and the LS and forget the 750.

iceberg · 02-16-05, 10:39

I believe that in the JD Power Reliability survey in 2004, which surveys cars built in 2001, the Lexus LS was THE most reliable car in the entire survey. Therefore, I would suspect, that the 7 series would be pretty pricey in terms of ownership costs relative to the Lexus.

JDookie · 02-16-05, 10:47

After being in a family that has owned high end luxury cars for the last 12-15 years, here's my take on this:

If you don't have excess money to spend on extremely costly repairs, don't do it.

The more expensive the car, the more expensive the repairs. We have owned BMW and Mercedes, both of which broke constantly. Our first BMW had electrical system problems that never went away, our second BMW wasn't as bad but still had it's share of problems, and our last Mercedes actually required more than $12,000 worth of repairs after only being one year old (all covered under warranty of course).

The bottle line is, if you buy a used luxury car get some kind of warranty. Oil changes on Mercedes alone cost $100, but then again you don't change the oil but once every 10,000 miles. If you buy a used luxury car from a dealer, it should come with some kind of extended warranty or at least have one available. If you buy from an individual it's going to be harder.

Ed Hartman · 02-16-05, 10:50

The reliability ratings according to consumer reports does not fare well for the BMW 7 series. Especially years 97-99 and 02-03

GoodnClean · 02-16-05, 10:57

JD- Lexus oil changes are $150 and every 5k. BMW oil changes can be $300 depending on what package you choose!

Accumulator · 02-16-05, 11:11

Sorta an apples/oranges comparison IMO. Drive both the BMW and the Lexus and you'll see what I mean. The BMW is a real driver's car but the Lexus is *way* too "soft" a vehicle for me or my wife. When we're behind one my wife says stuff like "just look at how it leans in the corners, no wonder he's going so slow.."

But yeah, "good" cars can be expensive to maintain unless you have a good, independent garage that can work on them (and even then they aren't really inexpensive). I guess I agree with JDookie; if you really have to *think* about the costs involved you might want to reconsider or at least think about your priorities. Better cars can be really nice even when they have a few hundred thousand miles on them, but it costs a bit to keep them that way.

Remember the old saying about why so many Jags were "unreliable"- people could afford to *buy* them, but they couldn't afford to *maintain* them.

The 750 BMWs have a reputation for being *very* problematic so yeah, stick with the 740s.

hadboosttroy · 02-16-05, 11:17

Like GoodnClean stated, stay away from the 750's because as many people will agree, they cost a lot to service. Always try and find an independent mechanic that you are comfortable with, you will save some money. Honestly though for the mileage cars you are looking at, make sure they have records for all service, especially the BMW's. If it was me I would be most comfortable going with the LS400

It's a real nice car, and last model year for the 400.

Ed Hartman · 02-16-05, 11:18

BMW 700 SERIES electrical problems are prominent since 97. Along with Cooling problems and others as well. A risky investment in my opinion. The LS 400 is as reliable as you will find. There track record on this car is almost spot free

hadboosttroy · 02-16-05, 11:19

I just saw accumulator's post, and agree, they drive totally different so it depends on what you are into. Both are nice in their own ways.

MS22 · 02-16-05, 11:33

Go to authorized dealers if you plan to buy used. Many certifited used cars come with a minimum 3 year/50K warranty. As far as the 7series go my friends father has a 2002 that has never had a problem. And not to bash GoodnClean but change your own oil, Mobil1 with a quart of Lucas Syn. stabilizer and a PureOne filter will run about $40. If someone is willing to pay 150-300 for an oil change send them over to me i'll do it for $50 less and pocket the huge margin.

OutlawTitan · 02-16-05, 01:13

Thanks guys for the input. I realize that maintenance costs will be high for a high end car but they are a lot cheaper than monthly notes. I have never bought a car I couldn't pay cash for and have to go the used car route for one of these bad boys. I really appreciate the info about the electrical systems, etc. on the BMW's....this is what I needed to know. I know I would looking at a big pop for either one at around 100K.

Everyone has basically confirmed what I suspected all along. The Lexus is probably much more reliable and probably cheaper to maintain......but it has that mushy ride that reminds me of the land yachts from the early 70's.

I am old but I am just not old enough to be willing to settle for that kind of driving just yet. My problem is I want something fun to drive (prefer a stick) but I am 6 ft. 4 in. and have a long torso and a bad back (which means I have to keep the seatback fairly upright and not laid back). I need at least 39 inches of headroom and there are not many cars that fit this criteria (including the BMW's above). That is why I am still driving my '03 Accord LX coupe with M/T, 17" wheels, and a serious sound system. I have no kids, don't need a back seat as long as I can get my golf clubs and a subwoofer in the car I am good to go. What is out there under $30K that might fit me?