Should I buy an M3? Serious Q.

Hi all. I am in a need of a new car and I have never had this big (or difficult) of a decision to make. I've been driving my current car for a few years and I had 0 problems with it. The only expense I had was oil changes, tires, etc. I paid cash for it so I never had a payment on it and it gets 27-34mpg. So I've been driving it for years without any money coming out of my pocket each month. And that's part of the dilemma here. A new car I'm looking at will cost me ~ $1,000/month and get 15MPG at best.

After much research, it came down to getting a 2008/2009/2010 BMW M3 with low miles. I initially wanted the 2011 535i w/M Sport Package but realized that it'll cost me close to $60k and in two years it'll be worth $40k (if that). So I'd realize about $20k "loss" due to depreciation.

I plan to keep it for two years (no more), so $24,000 will be spent on car payments. I would ideally like to recoup some of that when I sell the car in two years and that is part of the reason I chose an M3. I can't see the car being worth $24,000 less than it is today. In other words, I don't mind paying $1,000/month on a car that I know isn't depreciating at a rate of $1,000/month. I am not sure how much M3's depreciate, but if I were to pay $45-50k for one today...I can't see it being worth less than $35 in two years. Is that an accurate statement? I'll put 5-8k miles on the car per year and take good care of it.

Some of the questions I have are:

How important is having warranty on an M3? In other words, if I find a great deal on a 2008 w/low miles...should I not even consider the car because it'll be out of warranty?

How much should I expect to pay for a 2009/2010 (I've checked KBB and eBay and there are no completed listings and my dealership has none)? From reading on this forum, it seems that both the MT and DCT are fun, so as long as I find a good deal, well loaded M3...I won't care if it's DCT or MT. I just want a nicely loaded coupe. No convertible.

Also, does anyone know who makes BMW tranny? ZF?

Does anyone have any other suggestions and/or something I should be aware when buying an M3?

To keep math simple, I assumed $1,000/month payments. I don't plan to put any money down on the car, so it'll be close to that anyway. $1,000/month isn't a lot for me, but if the car will depreciate at the same rate...I am better off leasing a brand new Porsche or a brand new M3 for that much money.

I, ideally, want to realize a depreciation of $500/month or so. I want to have a $500 lease payment, but that doesn't get me any car that I want...so my plan is to buy the car, pay more upfront and then when sell it, realize a loss equivalent to a $500/month lease.

Haha...does anyone get what I'm talking about? I hope so

i stopped reading after i saw the title.

yes. you should buy an M3. make it work with money, warranty not an issue.

that is all

Check the classified section of BIMMERFEST. This car looks great and it's local to you.

I think your numbers work, but even if they don't - so what - if you have the financial ability to indulge yourself - the M3 is the car - be impulsive - just do it and don't look back. After you have driven the car, I'm sure you can and will think of many real and imagined justifications. The angst will be fleeting - the giant grin on your face every time you push the start button will be enduring!

BMW is not mocking around with the DCT. It's made by the german company Getrag which also makes Porsche's PDK. It might seem an expensive option but in relation to cost it's likely cheap since I think a replacement runs a cool $14k...

Can anyone else confirm and/or shine some light onto how much the car might depreciate over the next two years? I'd put around 5-8k miles on it and I'd baby the car inside and out.

Also...how much should I pay for a 2009 with low miles?

What is real life MPG on them? I'll be doing mostly suburban driving, some highway.

And, given they cost $14k to replace....do you hear of many DCT's breaking/needing to be replaced? That would be a terrible thing to happen to a car outside of warranty.

Yes.

Yes you should.

Ok, having that out of the way, here are some suggestions.

I just bought a 2009 M3 Coupe 6MT. See this thread for my experience.

http://www.bimmerfest.com/forums/sho...d.php?t=603290

To your questions.

I get about 17 mpg in my 70/30 highway/city commute. The gas tank drains at an alarming rate. I typically have to fill up with not much over 200 miles on the trip. In practical terms for me this is about once a week.

MT/DCT is like religion. If you have no preference, I recommend you test drive several times and make up your mind. The DCT is probabaly faster around a track, and may appeal if you are younger. If you are old school, you may prefer the satisfaction of three pedals. There is no right answer, there is only the answer that works for you.

Note that in 2009, there was a major overhaul of the iDrive system. Be aware of this if its of importance to you.

I bought an aftermarket warranty to take my car to 2015 / 100K for about $3K ish. It was worth the peace of mind.

My car already had the extended maintenance plan to 100K, but I would not have bought that.

I paid $48.6K for mine in Feb. It had 22K miles. I do not have a crystal ball but as a guess I would say in a year it might be worth $40K and in two years perhaps $32K.

Lets see what else.

Oh yeah, buy the car. If you have an ounce of gasoline in your veins, you will not regret it for an instant.

Originally Posted by chibmw

And, given they cost $14k to replace....do you hear of many DCT's breaking/needing to be replaced? That would be a terrible thing to happen to a car outside of warranty.

No. Some say the V8 NA M3 3 series is the most reliable car BMW makes, now they have replaced the NA 328i I6 6MT (and I have one of those too. )

Originally Posted by rotorheadbob

Check the classified section of BIMMERFEST. This car looks great and it's local to you.

Is that by Lemurofdoom? Yes, I would have bought that car, but not in black for me.

I am not seeing this car you guys speak of? Can someone provide a link please.

Llando88, so you think your M3 will depreciate by $8k/year. Hm, I was hoping for something along the lines of $5k/year.

Did you pay $48.6k including the extended warranty or was that another $3k on top of the purchase price?

It seems $45k should be a fair price for a 2009 M3 now.

Originally Posted by chibmw

I am not seeing this car you guys speak of? Can someone provide a link please.

Llando88, so you think your M3 will depreciate by $8k/year. Hm, I was hoping for something along the lines of $5k/year.

Did you pay $48.6k including the extended warranty or was that another $3k on top of the purchase price?

It seems $45k should be a fair price for a 2009 M3 now.

Yeah 8k a year sounds about right. Before doing anything check out the current lease rates. Last I checked it was possible to lease a fairly loaded coupe for around 750/month for 36 months/10k year provided you do euro delivery and negotiate a good deal. At that price it may not be much more than the depreciation plus interes on an 09 over 2 years.

Originally Posted by chibmw

I am not seeing this car you guys speak of? Can someone provide a link please.

Llando88, so you think your M3 will depreciate by $8k/year. Hm, I was hoping for something along the lines of $5k/year.

Did you pay $48.6k including the extended warranty or was that another $3k on top of the purchase price?

It seems $45k should be a fair price for a 2009 M3 now.

http://www.bimmerfest.com/forums/sho...327&highlight=

$3K on top of.

Yes, $45K would not be an unusual price for an 09 E92.

Wow! That is a beautiful car, great condition. If it were a 2009 and had more warranty remaining, I wouldn't think twice.

Can anyone list any differences between an 09 and 08 BMW M3? I know the iDrive system is different and it seems that the rear lights might look different...any other notable differences? Looks wise?

I really like how Capobranco's car looks like (in his signature). I love the rims, color, everything. What year is that? Are those rims more expensive than the ones on the 08 in the link above?

Why on earth buy an extended warranty on a low mileage car that will see 10-16K miles in 2 years? I would doubt anything major would go out with a low mileage car. Save the money on the extended warranty. This is how companies make lots of money by offering extended warranties...they are in business for a reason. What are the odds something more costly than $3500 (cost of extended warranty...probably more) will occur to a low mileage car? I have a 2009 M3 Coupe with 5K miles and my warranty runs out in 6 months. You can be sure I won't buy an extended warranty. I haven't had a warranty claim yet on the car in 3.5 years. I have every option available at the time on the car and everything still works fine. If you want to buy an M3 with 50K miles and you put 25K miles/year on the car, by all means buy the extended warranty. Ever buy a TV or stereo or even a toaster?...The store pushes an extended warranty on you for dirt cheap. Even at dirt cheap, they are making money because they know most things won't break in their normal service life.

I always say that if something is going to break on a product like a TV or stereo, it'll happen in the first year and you'll be covered. How often will a transmission or engine (without abuse) go bad under 100K miles? Oh by the way, did I mention that I hate extended warranties?...he he

I'm with Jim in Oregon on the Nah to the warranty.

Originally Posted by chibmw

.....
I really like how Capobranco's car looks like (in his signature). I love the rims, color, everything. What year is that? Are those rims more expensive than the ones on the 08 in the link above?

Thanks! - I love my car too!

My car is a 2012 M3 in silverstone - the wheels are part of the competition package (ZCP) - 19" Light alloy Y-spoke wheels style 359M-with performance tires. Silverstone is a very cool color - depending on the light - the car may appear to be stainless steel or an other worldly slightly bluish silvery icy- hot hue. The rims are available as an aftermarket purchase.

I am in Europe on a 3 year assignment. I had lots of choice. Cars that were not available at home, diesels that actually perform etc.

If it is a financial question - cost to own and operate, then the new 328 is where you should put your money. It gets great fuel economy and will hold its value better than a car that is about to be replaced E90x M3.

That said, once you have driven an M3 V8, you will want to reconsider the "I will just keep it for 2 years" condition that you set for yourself.

They are amazing cars. The suspension does not punish you the way some performance cars do. They are engineered not as a modified 3 series, but as an entirely different beast. In M dynamic mode the beast is untamed (if you turn off the DSC) and in normal mode it is a sport minded daily driver.

Originally Posted by Jim in Oregon

Why on earth buy an extended warranty on a low mileage car that will see 10-16K miles in 2 years? I would doubt anything major would go out with a low mileage car. Save the money on the extended warranty. This is how companies make lots of money by offering extended warranties...they are in business for a reason. What are the odds something more costly than $3500 (cost of extended warranty...probably more) will occur to a low mileage car? I have a 2009 M3 Coupe with 5K miles and my warranty runs out in 6 months. You can be sure I won't buy an extended warranty. I haven't had a warranty claim yet on the car in 3.5 years. I have every option available at the time on the car and everything still works fine. If you want to buy an M3 with 50K miles and you put 25K miles/year on the car, by all means buy the extended warranty. Ever buy a TV or stereo or even a toaster?...The store pushes an extended warranty on you for dirt cheap. Even at dirt cheap, they are making money because they know most things won't break in their normal service life.

I always say that if something is going to break on a product like a TV or stereo, it'll happen in the first year and you'll be covered. How often will a transmission or engine (without abuse) go bad under 100K miles? Oh by the way, did I mention that I hate extended warranties?...he he

Originally Posted by dalekressin

I'm with Jim in Oregon on the Nah to the warranty.

Good points all.

In two years or so, my income changes from current earnings to retirement mode. Hence we wanted to control costs. With an M3, the extended warranty made sense for us.

I get what you are saying tho and in other circumstances we might have made another decision.

Just purchased a 2012 M3 this morning ...should be here in a few days (located space gray/black) In Torrence CA BMW...took me 2 weeks to find it... price was $71.5 all options except for extended leather but like I said..WTH...I've wanted an M since I bought my 330i in 2003...glad I waited though..gonna keep the 330i for rainy days...think price was fair but not great....given it was the only new one I could find with the options and color combo I wanted... I could not get a bidding war started or believe me I would have tried.As far as depreciation, I figured it's a lot each year but I intend to keep the car in my stable soo...maybe I'll regret it but then I'll just go for another ride. thanks for all the info from y'all...that's Houston Texas for you all.. by the way should I wax it ...clay bar it when it gets here..? Most threads seem to suggest that I should right away..Or should I wait....car cleared customs last Friday...any input will be appreciated. Wife said they would Zylon (sp?) car for 5 years for $350.00...half price..maybe that's the way to go. Thanks in advance...

Originally Posted by black captain

Just purchased a 2012 M3 this morning ...should be here in a few days (located space gray/black) In Torrence CA BMW...took me 2 weeks to find it... price was $71.5 all options except for extended leather but like I said..WTH...I've wanted an M since I bought my 330i in 2003...glad I waited though..gonna keep the 330i for rainy days...think price was fair but not great....given it was the only new one I could find with the options and color combo I wanted... I could not get a bidding war started or believe me I would have tried.As far as depreciation, I figured it's a lot each year but I intend to keep the car in my stable soo...maybe I'll regret it but then I'll just go for another ride. thanks for all the info from y'all...that's Houston Texas for you all.. by the way should I wax it ...clay bar it when it gets here..? Most threads seem to suggest that I should right away..Or should I wait....car cleared customs last Friday...any input will be appreciated. Wife said they would Zylon (sp?) car for 5 years for $350.00...half price..maybe that's the way to go. Thanks in advance...

Enjoy!

Congrats!

Welcome to the 'fest and the M3 Club!

Originally Posted by Llando88

MT/DCT is like religion. If you have no preference, I recommend you test drive several times and make up your mind. The DCT is probabaly faster around a track, and may appeal if you are younger. If you are old school, you may prefer the satisfaction of three pedals. There is no right answer, there is only the answer that works for you.

I agree that MT/DCT is like religion, but there is only ONE universally right religion, and likewise, ONE right answer for the MT/DCT question 3 pedals are always better than 2!

The M3 is the BEST all around car for the money.