M-Series (M1, M3, M5, M6)General M-Series Discussion - If it does not fit into a more specific M Category above, please place it in here. In addition, previously archived M-Series discussion is located in this section.
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Hmmm..... a 2002 M3 convertable in SMG, for $31,100.....KBB said $51,070 so it does sound a little weird...If you want to bid for that car, I would reccommend actually seeing it before buying it....Maybe even drive it first.
When I was looking to buy my M, I found alot of these. They were frauds where the guy was saying the car was "perfect" but it was located in "fill in european country here"...
The sellers even recommended we use a escrow company for "safety". When I did a search on the escrow company, I found that it was also a fraudulent front.
It's suspicious because the auction ad states "you can buy it now for $ 31100.00" which is about $ 20000.00 less than blue book. Unless he got the car for free he would be losing money.
And as qpoints stated above - sometimes the sellers of these cars use a fradulent escrow compnay to steal your down payment when the auction ends.
If it were a dealer it may be a different story. By the way - the seller never returned any of my emails inquiring about the car. I think it is too good to be true.
I finally received a reply from the person who is seling the M3. He did not answer my questions directly but instead sent the following "form" letter. He expects the money to be wired to his bank account and THEN he sends me the car - yeah, right.
Quote:
Hello, first of all I want to thank you for your
interest in my 2002 BMW M3 Cabrio.
I offer this great car for $31100US.
The car is like new, completely working, 17650 miles ,
2002 model. As you know, BMW is not japanese
engineering. 17650 miles means nothing for such car.
This vehicle is a US model - US specs and passed the
US test emissions. All manuals and the original
documentation are written in eight languages. You will
receive the car in 7-10 working days by FedEx Freight
International at your home address. It's insured in
case of damage and it takes 7-10 days (depending on
location) to be delivered.
The title is clear and i'll provide the bill of sale
for this transaction. The car will be marked as "gift"
with the shipping company so you don't have to pay any
additional taxes. I'll send you the car with all the
papers (title, insurance etc. ...).
The shipping costs and the insurance taxes of the
package will be down to me and you only pay for the
money transfer commission when you wire the funds,
which is about 4% from the total amount sent. The unit
is being shipped from Athens, Greece and you wont have
to pay for customs or any additional taxes when it
arrives due its shipped as gift/donation.
The payment is fully refundable - if the car has
scratches, hidden defects, or it's not as advertised.
In case of that, i'll cover the shipping back to my
location.
I'm sure you'll love this car. It's a state of the art
vehicle that works and looks perfectly. Lots of power
and torque.
Please let me know if you're interested and I'll
provide you further info on how to purchase this car.
I look forward to hearing from you soon.
RUN AWAY. When I was buying, I encountered a guy just like that. Even if the huge price discrepancy doesn't make you wary, those canned letters should.
Read that page. It may be long, but read it. It may save you from making the biggest mistake of your life.
__________________ Anyone who ever buys used cars online, anyone even THINKING of starting a "Is this deal too good to be true?" thread, anyone who wants to be more educated about protecting themselves must <a href='http://www.carbuyingtips.com/fraud.htm' target='_blank'>read this</a>.
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