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Old 01-22-2011, 11:00 AM   #1
1st Gear Newbie
Join Date: Jan 2011
Location: Toronto
Posts: 1
Service & Insurance Costs 2006 BMW M5

Hi guys,

I am new to the forum and the BMW world and I would really appreciate your help. I will be moving back to Canada (Toronto specifically) in the next couple of months after having lived and worked overseas for many years. I have always dreamed of owning an M5 and will be hopefully looking to get a certified pre-owned 2006 in good condition probably from a dealer.

However, my biggest concern is the maintenance and insurance costs. Can anyone shed any light on the approximate costs so I can factor these into my decesion?

Thanks again.
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Old 01-22-2011, 11:57 AM   #2
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Join Date: Nov 2006
Location: toronto
Posts: 122
The M5 is the most expensive vehicle to maintain offered by BMW. Make sure you get one under warranty of you'll be replacing cam sensors/vanos solenoids/etc out of pocket. Aside from that you can do most general maintenance yourself rather cheaply but if you're not confident each service will cost you anywhere from $300-$1600 if you go to the dealer.
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Old 01-22-2011, 11:52 PM   #3
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insurance and preventive maintenance should budget $3,800 to $5,000 yearly

oh and if you get nailed for speeding which is not hard to avoid, insurance can go up real quick and stuck for 3 years on record
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Old 01-24-2011, 11:42 AM   #4
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Location: Durham Region
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Insurance cost will depend on your licence. Were you previously licenced in Canada? If so, for how long?

Once you hit a certain point in your driving record, most cars cost the same to insure, + - a few hundred dollars.

PM me your email address and i can work out an exact quote for you.

1998 328ic - Sold
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Old 08-22-2012, 04:50 PM   #5
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Join Date: Aug 2012
Location: Richmond Hill
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There are 2 thing about M series, we recently crashed brand new M5 and at that time we didnt know what insurance company are going to do with the vehicle write off or repair it. Basically we spoke with one of our friends which GM in BMW dealership and he told me there is no way vehicle is going to be repaired because the 1 way to get parts from assembly line from Germany. THERE ARE NO AVAILABLE PARTS IN CANADA. With older M series little bit easier but still sometimes hard to find parts especially M5
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Old 08-23-2012, 04:34 PM   #6
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Join Date: Sep 2009
Location: Toronto
Posts: 20
It is going to be expensive. That I promise you. But if you can afford such a car you should be able to afford the costs of keeping it. Because like all cars, the M5 is still just a car that needs regualr maintenance done to it and things will break.

If costs of owenrship is a big factor then stay clear, but if not enjoy the car, it will be an amazing ride.


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Old 08-24-2012, 10:07 AM   #7
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Location: The Landing
Posts: 1,326
I own an M5, and have had to replace sensors here and there. Its not as bad as all previous comments state. However, do some research on how to DIY and your could save a boat load on the repairs. Also, ensure the car has a great track record so no hidden electrical gremlins poke their head.

For your best advice, I would go to and talk these the avid M5 enthusiasts on there. I wouldn't bother on here - no offence, but all the chaps on M5board do is eat, sleep and talk M5's

*** I am 32, with full coverage on my 2001 M5 is $113/month. as stated above, clean record and safe driving = how much you pay.....

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