Opinions please, does this sound like a good deal? - BMW Forum - BimmerWerkz.com
3-Series (E36) Chat relating to the BMW 3-Series from 1992-1999. Autodoodad Specific models include: BMW 316i, BMW 318i, BMW 318iS/ti, BMW 320, BMW 323, BMW 320, BMW 324, BMW 325, BMW 328.

 
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#1 (permalink) Old 12-01-2005, 11:02 PM
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Opinions please, does this sound like a good deal?

I'm a serious car guy, but have never owned an M3. I have a friend (2000 miles away) with a 98' M3 that can be had for $12,500. it has around 92K, is white with tan leather. I have lots of detailed pictures of the car and it seems to be in good condition ;no scratches, 1 small door ding, steering wheel has some wear as does the drivers seat. Kelly Blue Book shows private party at $12,550 but they seem to be going for quite a bit more on Auto Trader and E-Bay. Do you think $12,500 is a great deal, average or what?

Thanks!
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#2 (permalink) Old 12-01-2005, 11:09 PM
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welcome vader

somewhere on the e36 forum there is a buyers guide. it's usually not a good idea to buy from friends/family, you never really quite know what you're inheriting. usually people list at blue book because of the depreciation of the car, which you said it was 98 and hell it's almost 8 years old. 97k is a bit high, but you said you're a serious car guy so that shouldn't be a problem. i'll try and find that buyers guide for you.

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#3 (permalink) Old 12-01-2005, 11:21 PM
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The price is OK.. could be a bit lower, you should try and get some pics of the interior etc.. thats where most of the value is decided.. that and the condition of the paint. This is of course assuming that it is in perfect working order.

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#4 (permalink) Old 12-02-2005, 12:25 AM
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You have to remember that KBB is an estimation of value based on reported sales as an average; It DOES NOT reflect the actuall value of the car! What I would do is estimate your cost position in the car:

Let's say 12k for the car itself

now factor tax, license, and registration.
not to mention at the age that the car is at what type of repairs might come up in the very near future. Always consider use! Are you going to mod it out for track use, semi track, use solo street? All questions you need to ask yourself. There are a lot of guys on this site who you can bounce ideas off of cause let's face it no two sales or cars are exactly alike.

Hope this helps.
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#5 (permalink) Old 12-02-2005, 01:53 AM
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i'd get it checked out very thoroughly by someone who knows bmws well. repairs can be really expensive so, like others have said, look into that. dont buy something you wont be prepared to repair later on.
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#6 (permalink) Old 12-02-2005, 09:08 AM
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that is a very fair price for a 98..the mileage isnt bad either. Friends or family usually dont screw you over (well mine at least), so I would tend to believe what he says (although he is 2000 miles away).. see if you could do better on the price, but if he wont budge I would prolly take i anyway. The M3 is a kick ass car and have been known to go high-mileage. THe bmw place i go to has a 96 M3 with over 250K on it come in for oil changes and they said nothing out of regular maint has ever been done to it..

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#7 (permalink) Old 12-02-2005, 10:05 AM
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Quote:
Originally Posted by 93 325i
that is a very fair price for a 98..the mileage isnt bad either. Friends or family usually dont screw you over (well mine at least), so I would tend to believe what he says (although he is 2000 miles away).. see if you could do better on the price, but if he wont budge I would prolly take i anyway. The M3 is a kick ass car and have been known to go high-mileage. THe bmw place i go to has a 96 M3 with over 250K on it come in for oil changes and they said nothing out of regular maint has ever been done to it..

But how do they drive them? If they baby them that would explain no problems. or do they drive it like an m3 or any bimmer for that matter should be driven. Thats something you have to figure in..most people who buy an m3 are going to drive it harder then the average bimmer. I can tell you when I get an m3 I'm gonna drive the damn thing like I stole it every day of the week.

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#8 (permalink) Old 12-02-2005, 12:04 PM
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Its not even a matter on how its driven (to a point). It's a matter on how it was taken care of. I drive mine hard but take care of it. THere is a difference. (But redlining every shift is nutty and i wouldnt assume thats how it was driven everyday). You could tell by looking at it and how it drives how well its been takin care of. A well maint. bimmer will last regardless of driving style

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#9 (permalink) Old 12-02-2005, 02:24 PM
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Go with the NADA value, not the Blue Book value. NADA is more conservative, and is what your car insurance company will worry about.

Offer to pay a couple of hundred bucks to take it to an independent non-dealer BMW mechanic to give it a thorough going-over. You should get a very good idea of the condition from this.

Do those two things, and it sounds like a good deal. Expect to have to replace water pump, coolant tank, thermostat, radiator hoses, and thermostat housing, and possible shocks, struts, and rear shock mounts. All of these are weak points for the car. I'd pop in some Koni's if I were you :-)



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#10 (permalink) Old 12-02-2005, 02:29 PM
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you mean bilsteins.. haha

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#11 (permalink) Old 12-02-2005, 02:40 PM
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Quote:
Originally Posted by 93 325i
Its not even a matter on how its driven (to a point). It's a matter on how it was taken care of. I drive mine hard but take care of it. THere is a difference. (But redlining every shift is nutty and i wouldnt assume thats how it was driven everyday). You could tell by looking at it and how it drives how well its been takin care of. A well maint. bimmer will last regardless of driving style
This is true for most cars. My old 90' accord went for 274k mi without a hitch and then it wouldn't go into the final gear anymore. There are always cars that will pull this kind of stuff but just realize how fast a car depreciates after 100k mi they call it "the second drive off the lot" meaning you drop exponentially done for a while after that.

In my humble opinion I would try to find a less than fantastic //M3 in terms of engine, even might want to look up the local auto yards. Do a 3.2 convo w/ interior replacement. You could have the mostly new E36 M'er of your dreams you just have to be willing to wait as the project unfolds.

I figure:
5-7k for the car would put you in the same total cost range as this //M w/ 98k mi after all is said and done. Plus if you work exclusively with one shop you'll get deals on labor.

Best of luck!

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#12 (permalink) Old 12-02-2005, 03:54 PM
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Thanks all, I appreciate the feedback. My understanding is the car has been treated and maintained well. The water pump and rear shock mounts have been replaced so I won't need to worry about that. I spoke with a local BMW dealer and he said if I didn't get it he might be interested. He said he could put it on his lot for $15,900. That, plus your input seems to suggest I'm about to join your ranks. Thanks again.
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#13 (permalink) Old 12-02-2005, 05:01 PM
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Quote:
Originally Posted by 93 325i
you mean bilsteins.. haha

Um. No.

That is all.



1999 E39 540i/6-VF Stage 1 S/C, Dinan exhaust, Dinan strut+shock braces, Dinan ltwt flywheel + clutch, Dinan Brembo BBK, Dinan monoball, H&R Springs, Koni Yellows, M5 sways, Dinan forged 18" wheels, &c.

1995 E38 740i. Highly modded. Faster than you.

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