Comments on Buying a salvaged 98 M3

[m3f_tonykhar_21811733b9]

Hi All.

I Have a chance to buy a 98 M3 with 42K mikes on it. The car has been in a light front end accident. Most of the damage is to the front right side. The car has been given a Salvage title.

By showing some pictures of the car to some autobody shops they have estimated that it would probably cost from$3K to $5K.. The Air bag and the steering column seems to be the highes Items to replace as well as the hood.

Now for the question.. Is it worth getting it? At the end It would probably cost me around $13K (cost of Buying then Restoring) .

By doing a quick check of the car it seems that only the front support was bent so it didnt look like the Frame was touched.



Here is the list of Items That I would need to replace:



Hood

Radiator

Front Support Brace

Front Bumper

Right Front Fender

Passenger Door and Glass

Windshield

Steering Column and airbag



Not to mention all the little parts that go along with the big ones.



Other then that the car is in good working order as far as I can see.

So is it worth it and What Should I expect to pay for a wreck like that?

Or should I just Go for a higher milage 328is or 325 for the same price



Thanks for any input



Tony K.

[m3f_Midnight S_f3aef9550d]

How much is the salvaged M3?:banghead:

[m3f_BlkBimM3R_4c5ffa766f]

he said it would cost $13K in the end which is the cost of buying and repairing... and the shop estimate was $3-5K... so its for $8-10K?



hmm I don't know.. this is just my opinion.. but I wouldn't go w/ salvaged anything... although you might have good luck and get a good vehicle.. I've seen all too many people who have had nightmares w/ salvaged and theft recovery/rebuild vehicles... little problems that keep recurring and no one seems to know how to fix it, not to mention resale value is much lower and a salvaged vehicle is less desireable to most buyers... not sure how insurance likes salvaged vehicles....



if it were me.. I would just save up a little longer and look for a clean title car, have it checked out and inspected before purchase and be done w/ it...

[m3f_astan100_7ef66fbe89]

Make sure to call your insurance agent to see if you can insure a salvage car...I worked for Allstate and they have some funny rules sometimes. They don't like insuring flood cars for instance because if the electronics for the airbags went bad for instance, they might go off at any time. That would be a nightmare on the highway!



So, just check there first. Having an uninsured M3 doesn't seem like a good idea considering the price of parts if you wreck it and it's your fault.



Good luck with your purchase.

[m3f_tonykhar_21811733b9]

Oh yea forgot to mention it.

They are asking $9500 for the car

[m3f_tonykhar_21811733b9]

I Checked with my Insurance Co. (Liberty Mutual).. and They said they have no problems insuring it as long as its in My name.



hanks to all that replied.

[m3f_astan100_7ef66fbe89]

you, know, I would probably just say the heck with it and buy the car. That is a really good deal and who cares if your resale is bad...you got it at a severe discount, so if you sell it at a discount, you don't really lose money. The mileage is nice and low and who wants to settle for a lesser 3 series.



My only concern was the insurance, but if they don't care, then I guess you don't have to.



I would just keep the car for a long time so resale isn't a big deal.



Congrats on the find.



By the way, does the car smell funny from the airbag? My mom's car did for a little while after it got out of the shop. Lots of weird chemicals in there.

[m3f_tonykhar_21811733b9]

I Actualy didn't smell anything.. Maybe it was too cold out..

Well I'm Gona give it a thought and go down to the shop and inspect it some more.. I did notice A Venom Sticker inside the engine Bay, I hope they didn't Use nitros

[m3f_CrazzyM3]

In my experience......when are cars frame has been touched its never the same....NEVER.........so be carefull:banghead:

[m3f_tonykhar_21811733b9]

Thanks for the advice :thumbsup:

[m3f_NLR]

When do insurance companies issue a salvage title for a car? I thought that the damage had to be pretty severe, possibly equalling or surpassing the value of the car. But, with only 3- 5k in damage, why would that car be given a salvage title?

[m3f_CrazzyM3]

Yea, now that you mention it I was thinking the same thing.....I also herd that if a cars got a salvage title and you send it to another state and it's fixed you can get a new title it'll still be salvaged......but if you send it to another state the salvaged title will go away............I didn't think you could get rid of a salvaged title......is there any truth to this.....thanks in advanced for any info:???:

[m3f_BlkBimM3R_4c5ffa766f]

is salvage the same thing as totalled? I think for a vehicle to be totalled the damage is about 65% (varies by insurance comp) of the vehicles current market value or something like that...



correct me if I'm wrong.. but this is what I was told..

[m3f_tonykhar_21811733b9]

I think Its the same.. If it was stolen and stripped. The cost of replacing the parts would be way more then what the Fair market value of the car was.. so they tottal the car, and sell it to Salvage Yards and get what they can for it.



I don't think that this is what happened to this car.. It just looks like it was in an accident.



I'm not realy sure why they would tottal it in this particular case unless the dammage to the car is more severe then it seems.. That's why I'm gona go over it once again.



Are there any signs I should look for, as far as the engine is concerned, if it previously had NOS on it? There's A Venom Sticker on the inside and I Know that Venom Is a Brand Name for A Nitros System.



I wouldn't Get it if the Engine is blown

[m3f_97BLKM3COU_0f375e15e2]

You may want to have a mechanic look at it. If it had NOS, it is probably best to stay away, unless you want to replace the engine too. I would just be weary of it. Although, an engine rebuild may be $3-5 K, which is still a pretty good deal after all the other work is done. You basically get a new car for less than the used one would have cost you.