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View Full Version : Noob: Help! Looking at purchasing a 98 M3


enweic
08-29-2005, 06:40 PM
Price is good, but I may have to replace/rebuild the engine??? Does anyone know how much that would cost?

I have been emailing back and forth with the seller, and he seems to be trustworthy enough. He says that the oil pump failed (which I know can be pretty catastrophic to an engine), but how can I check it if I can't start the car? lol. Read ahead to see the description of it and let me know if this is even worth pursuing... Help!

"Hello, I am selling a 1998 BMW M3, it's a great car as you can see in the picture, it's in very good condition. Before I tell you anything else about the car let me tell you why it's so cheap. Couple weeks ago I was driving and my engine oil light came on (first time in my life this has happened) I didn't know I was supposed to stop right away. I drove for about ten miles before I finally stopped, now it has a weird clicking sound whenever I start it. Which by the way I havent't started the car since the day this all happened. Everybody I talked to is telling me I'm going to need a new engine or rebuilt the one I have. I bought the car from a dealership in Oklahoma, it had some very minor rear end damage which was all replaced and fixed by New Life Auto in Auburn. Because of the damage it came back as a rebuilt title. The car has 85,*** miles on it, very good condition, but it does have a couple minor dents on the body which aren't visible unless I point them out and two scratches on the driver side rear door. So I figure I rather loss some money and sell it for $10,500 instead of ending up lossing even more by getting a new engine.

If you have an engine or you deal with these kind of items or you can fix it than this can be a great deal for you. I just don't have the time and money to deal with it. If you are still interested in the car please let me know and I will give you more details on it. The interior is in MINT condition, wheels are in MINT condition, the car overall is a great car except for the part that matters most. "

Bruce
08-29-2005, 07:05 PM
Let's review...98 M3 with possible bad motor for $10.5k. And that is a good deal why?

enweic
08-29-2005, 11:27 PM
dunno, i have no idea how much a replacement or rebuild would be. how much should the car be worth? the cars that i have seen with similar mileage go for close to 20,000, which is why i thought that it would be a good deal...

Bruce
08-30-2005, 04:42 AM
Are you talking Canadian dollars?

A good running 98 M3 here in the US is in the 15k range. Rebuilding a motor will probably cost $5k. Buying a used motor probably $3-4k. Getting somebody to put it in isn't cheap but it easy to do. Something just sounds fishy. If he puts a new motor in it will be worth more (at least as much as he would put into it probably.

enweic
08-30-2005, 10:32 AM
I'll be talking in USD, as most members here are in the US. Where I am, similar cars would go for about 19k, so the savings are definitely there. The only question is is it worth it to pursue, or just keep looking...

In my conversations with him, he is actually thinking of putting a rebuilt one in the car. Plus the car has a rebuilt status already (apparently a minor rear ender). Just want to have a feeling on if I should even pursue this... I'm kinda iffy on it right now, but the price seems to be decent.

Bruce
08-30-2005, 03:03 PM
If it were me I would pass...there are too many good E36 M3s out there and the price has really dropped lately. I couldn't sell my 95 for as much as I think it is worth (but isn't it always that way?).

Bluempower
08-30-2005, 07:06 PM
First of all, a minor rear end shouln't change the title to "Rebuild"!

You should also ask yourself if he ran low on oil and didn't know what to do, how was the rest of the car maintained? There is a lot to an M3 and many things could be expensive. High milage isn't a problem if the car was maintained correctly. Also, a good M3 engine could cost you 8K to 10K after you find it, ship it, pay to have it installed, and figure out what you are going to do with your old engine.

Don't get me wrong, it could be a good deal but those clouds that are hanging over it now most likely will multiply.

Find one that doesn't have anything wrong with it and from someone who was anal about taking care of it. Just be willing to pay fair market.

enweic
08-30-2005, 07:17 PM
First of all, a minor rear end shouln't change the title to "Rebuild"!

You should also ask yourself if he ran low on oil and didn't know what to do, how was the rest of the car maintained? There is a lot to an M3 and many things could be expensive. High milage isn't a problem if the car was maintained correctly. Also, a good M3 engine could cost you 8K to 10K after you find it, ship it, pay to have it installed, and figure out what you are going to do with your old engine.

Don't get me wrong, it could be a good deal but those clouds that are hanging over it now most likely will multiply.

Find one that doesn't have anything wrong with it and from someone who was anal about taking care of it. Just be willing to pay fair market.
apparently he bought it at auction. agree though, peace of mind does cost some money... i'll pass on this one and keep looking.... thanks!

Jon Shafer
08-30-2005, 09:22 PM
First of all, a minor rear end shouln't change the title to "Rebuild"!
Is this just a nicer way of saying "SALVAGE TITLE"?