PDA

View Full Version : Is it worth $18k?


CH2.0
06-29-2008, 02:42 PM
Hey guys -

I'm seriously considering buying a 5sp 1999 M3 Coupe with ~63,000 miles on it. The seller has owned it for a year, in which he put 20,000 miles on it. He bought it from the original owner. Both of them kept their service records, which includes an inspection which occured when the current owner bought it, showing 180 psi across all 6 cylinders, and that they checked the cooling system. I heard these are the two important things to look for. Also, the current owner just had the Inspection II done for ~$1,275.

I test drove it today, it runs strong and smooth, everything (interior/exterior lights, computer, HK 6CD changer, etc) works, everything is clean as hell. I didn't get the chance to look carefully at the service records to see if brakes have been replaced or if the cooling system has been overhauled. I also didn't get under the car to check for overspray

It's stock except for black kidney grills and front clear corners.

He's asking $18,800 and claims he's turned down offers of $17k. I don't have any reason to doubt him, he seems legit and not trying to bull**** me.

Blue Book Values: Retail (Excellent): $18,670, Private Party (Excellent): $15,600
NADA Value: $18,100 - $18,900 (Link (http://www.nadaguides.com/usedcars.aspx?LI=1-21-1-5013-0-0-0&l=1&w=21&p=1&f=5014&y=1999&m=1026&d=208&c=15&mi=64000&o=544~91~263~6~24&vi=1865&z=98119&da=-1))

Craigslist Ad (http://seattle.craigslist.org/est/car/733432618.html)

In my book, this is the perfect opportunity to buy a well maintained low mileage M3. But is he asking too much? 18.8k seems like a lot compared to blue book private party, but then again it's well maintained and SPOTLESS.

What do you guys think?

shamulater
06-29-2008, 03:57 PM
I would think that 18 thousand plus would put you in the under 50,000 miles club...near perfect condition.:dunno:

CH2.0
06-30-2008, 01:10 PM
Anyone else have an opinion? I'll have to make the decision today.

ffej
06-30-2008, 01:15 PM
I bought a 1998 M3 sedan (5spd) over two years ago with $45,000 miles on it for $15,000. Kelly Blue Book is high. In more ways than one. Unless the car is dead-nuts perfect, it's not even worth $15k.

He's either going to be waiting for a very long time, lowering the price or he'll end up selling it to a sucker.

edit: just for sh!ts & giggles, I did a quick autotrader search. Came up with this E46 M3 for under $20k (http://www.autotrader.com/fyc/vdp.jsp?ct=u&car_id=246933827&dealer_id=1182375&car_year=2002&model=M3&num_records=25&systime=&make2=&start_year=2000&keywordsfyc=&keywordsfyc=&keywordsrep=&keywordsrep=&engine=&certified=&body_code=2&fuel=&awsp=false&search_type=both&distance=500&marketZipError=false&search_lang=en&make=BMW&keywords_display=&color=&page_location=findacar%3A%3Aispsearchform&min_price=&body_style=COUPE&drive=&default_sort=priceDESC&max_mileage=&style_flag=2&sort_type=priceDESC&address=95118&advanced=&end_year=2003&doors=&transmission=&max_price=25000&cardist=570).

e30e
06-30-2008, 01:18 PM
I've never understood buying a old car with low miles for a lot of money, when you can find mid-high mileage car with tons of records for less, save the money you would of spent for mods and maintenance. Especially when you can afford to pay the 18k or so, buy a 12k car and save the rest. :)

CH2.0
06-30-2008, 02:24 PM
I offered $16.5k, he said the previous owner wanted it for $18k. And the search continues...

fun2drive
06-30-2008, 03:00 PM
Car is worth what you are willing to pay for it.
I would prefer a car with great records and maintenance vs a garage queen that will still need upkeep.
In the case of the car you were looking at the cooling system would soon need overhaul and it would be expected if the car was driven lightly that the brake pads and rotors would still be fine.
My 97 just turned 61K and my pads have over 1/2 life left but end of this summer the cooling system will be get overhauled.
I am considering using Evan's coolant and not replacing my rad but will replace everything else.
The car you found sounded great and I am sure you will find another...

4liter
07-08-2008, 05:14 PM
Keep looking, if he won't negotiate, someone else will.

steg99
07-08-2008, 07:13 PM
I agree with fun2drive--the car is worth only what someone is willing to pay. If you look closely on Autotrader for E36 M3's, you'll notice most will drop several thousand in price over the course of their lifetime on the site. However, if you come across a real Cherry, well maintained car with good paint and records, even in the high teens, the car won't last more than 2-3 weeks.

aavi
07-09-2008, 12:14 PM
Hey guys -

I'm seriously considering buying a 5sp 1999 M3 Coupe with ~63,000 miles on it. The seller has owned it for a year, in which he put 20,000 miles on it. He bought it from the original owner. Both of them kept their service records, which includes an inspection which occured when the current owner bought it, showing 180 psi across all 6 cylinders, and that they checked the cooling system. I heard these are the two important things to look for. Also, the current owner just had the Inspection II done for ~$1,275....

What do you guys think?

i am buying one with 59,300 miles, 1998 sedan manual for $16000 this Saturday, hope that might help with your negotiation, i was going to buy it for $15200 but the seller raised the price as he had many offers of $16,000, but he preferred to sell it to me, and i decided to buy it.

Edgy36-39
07-13-2008, 07:14 PM
That price was high -- shake it off. There will be another. Cooling system would have needed total overhaul, eventually suspension as well. You're very wise to be looking for a 99. :D

When buying, always go in quoting Edmunds.com pricing -- much lower than kbb.

aavi -- over half sedans ended up with auto, so the manuals tend to sell for a premium. If the car is cherry, sounds like a fair price - IMHO, sight unseen of course. Throw up some pics! (Whoops, I see you did!)

henry_desmond
07-13-2008, 09:21 PM
Unless you just absolutely want an M car then go for it... but I would personally just buy a e46... hell you can get a e90 sedan with under 60k miles on it for less than $20k.... I saw a e36 M3 sedan at the parking lot in my school and I was gawking over it b/c it was extremely clean but I could not see myself paying over $12k for that old bodystyle even if it is an M.

Corey Milne
07-14-2008, 07:20 PM
Unless you just absolutely want an M car then go for it... but I would personally just buy a e46... hell you can get a e90 sedan with under 60k miles on it for less than $20k.... I saw a e36 M3 sedan at the parking lot in my school and I was gawking over it b/c it was extremely clean but I could not see myself paying over $12k for that old bodystyle even if it is an M.

Mearly opinion, I personally wouldn't be caught dead in an e46, everyone and there dog has an e46 nowadays, I bought my 328is over a 328ci e46 and never regreted it.
Now I'm looking at an e36/e37 m3 or z3m, and never even considered a 330ci.:p

See, its all just a matter of opinion!