E46 M3 - Question

A local dealer near home has a 2004 M3. Now I've been in love with the E46 M3's since they came out.

The dealer is asking $48k for it. I put it in edmunds.com, and it stated it is $40k tops.

The problem is, the car ONLY has 7,000 miles on it.

Should I still walk in expecting $40k or expect them to not drop the price due to the very low mileage?

This is my dream car, and I'd really appreciate your input. Help!

No BMW dealer will drop their asking price $8k.

Check autotrader for comps in your area. You can be specific on the year and see what the asking prices fall.

I agree w/ Bruce...

As a point of reference over 15 months ago I picked up a 2004 M3 w/ 2,700 miles, premium, harmon kardon, 19s, aluminum trim, heated seats, etc. plus dealer installed dinan exhaust, air flow intake meter, software, sirius, and ACS pedals / short shift kit from a dealer (although it wasn't a BMW dealer and therefore no CPO) for less than $48k. I ran the VIN w/ my local dealer and Carfax which were completely clean and my local indy said it was perfect and confirmed it was never driven in rain or snow...the car was in absolutely perfect condition. So I'd probably keep looking around...

I see your point.

I looked a little harder and found a 2003 M3 with 12k on it for 38,000.

I'll still check out the '04 I posted about, but if they don't budge, then I'll walk away (which I'm not expecting them to budge).

A long day at work sure makes you think 8k isn't much, but to a dealer it sure is.

Another option is to assume a lease. You can get some pretty good deals. I'm not sure I'd want to own an E46 M3 out of warranty but I'm not you .

http://www.leasetrader.com/auto/leas...e_105305.xhtml

Originally Posted by James

Another option is to assume a lease. You can get some pretty good deals. I'm not sure I'd want to own an E46 M3 out of warranty but I'm not you .

http://www.leasetrader.com/auto/leas...e_105305.xhtml

Meaning it is maintenance intensive? I was figuring that. I think the reason why the price has been tagged higher is because it is certified from a dealer, thus resulting in an extended warranty. I'd be ok with owning one, I'm still doing research on it though.

I was also looking for E36 M3's as well. The E46 is just beautiful, but I keep thinking in the back of my head about maintenance on it.

It would be my daily driver if I did pick one up. I'll have to talk to the local dealers about M3 service. I see many E36's with high miles, but I rarely see E46's with high miles. Tons of E36's are driven daily, while a lot of the 46's seem to be garage queens.

What kind of things should I expect if I go with an E46 M3, especially since it would be daily driven?

too much for a 04 w/ that mileage... I had an offer for an 04 cab w/ 7k for 42,000 last fall 06 and the same time frame one person last selling an 05 coupe w/ 500 miles for 52k.

take your time, theres alot of good buys for those who wait, especially with the new 08s coming this fall

Originally Posted by ///M W

A local dealer near home has a 2004 M3. Now I've been in love with the E46 M3's since they came out.

The dealer is asking $48k for it. I put it in edmunds.com, and it stated it is $40k tops.

The problem is, the car ONLY has 7,000 miles on it.

Should I still walk in expecting $40k or expect them to not drop the price due to the very low mileage?

This is my dream car, and I'd really appreciate your input. Help!