Need help on this trade for a 98 M3

[m3f_Brent_Vino]

If the dealer told you that this car was a single owner, they are lying to you.



and its been in an accident, and used as a company vehicle.



RED FLAG.

[m3f_vinnie98M3]

Brent vino is right. I think it was registered to one corporation and they just had to get a new title a few times :nixweiss: for what ever reason. Maybe the name of the corporation changed i have seen that happen so they need to request a new title becasue of that. And yes it was in an accident. It could be minor one but no one knows. At least it didnt come up salvage. :hmm:

[m3f_98M3and325_d8d2e42902]

I am thinking about doing this. Based on my research, I think I can get between $22k and $23k for my IS. I am not sure if they'd do $17.5k even w/o a trade as that's still $4,500 off sticker. Blue book retail on the car is about $19,500. I think $18,500 would be fair? I am not in a position to afford two car payments right now (three including my wife) and am concerned about buying another car without having mine sold first. But if I wait until mine is sold, the M3 will probably be gone and then I'm screwed.



I don't know how willing they'd be to work with me to overcome that timing issue. If I gave them a non-refundable $500 deposit, maybe they'll hold it for me until my car sells or for 30 days, whichever comes first.



Also, I'd probably keep this car for two years, at which point I'd sell and get into something a little larger. What do you think resale will be like on this car in two years assuming I keep the miles down? I'm thinking my IS will really take a hit once the new body style rolls out this fall. It might be a good move to get out now while I can still get a good deal... Thoughts?



I bought my 98 last summer with 49k miles for $19k from private owner. $4,500 off sticker means nothing. An Infiniti dealership lowered a Q45 I bought from $15k sticker to under $10k.

[m3f_Edgy_592e912c16]

Questions/Points



Is this a BMW dealer, or small indie? If BMW, see if he'll compromise by offering warranty service in lieu of price drop



49K isn't bad mileage, but it's not "weekend car" mileage



Assume you have documented maintenance records? When was the last major work -- Inspection II -- done?



Of course, don't do ANYTHING until you have it independently inspected



Don't let him sell you too hard on the "it will go fast" argument. It's not a car for everyone -- 8 years old as mentioned, two body styles ago with E90 coming out, terrible bad weather car, two doors, etc. (All said with love, BTW)



There are more out there, esp. at the price range your looking at



Hope some of this helps. I paid top dollar for mine two years ago, but it had only 16K miles!

[m3f_hubbstar]

I'm confused why an M3 would be used as a company vehicle... and why is this a red flag? Is it absolutely impossible for it to have been a one owner/driver car? Accident is reported as minor, but it's hard to say as you said. I took it to an independent mechanic and they said mechanically it was in really good shape. It wasn't a BMW mechanic, rather a generalist who looked at it. Can I place confidence in his conclusion?



It's not a BMW dealer. It's a local VW dealer that usually has a good number of nice imports on the lot (BMW, Benz, Porsche, Audi, etc). The only way I can get warranty is if I purchase one of those extended ones, and I believe they're pretty expensive. I have called all 3 BMW dealers' service departments and tried to piece together the history on the car's maintenence. Latest record I can find is 10/2001 at 34,500 miles. No confirmation of Inspection II either. Up until 28k, it was serviced very regularly at a BMW dealer in the area. After that it was like radio silence.



Funny thing is that they've let me have the car since yesterday around this time and I've probably put nearly 100 miles on it. It's been really good cause I have noticed some things I wouldn't have otherwise, but I can imagine the dealer will be flaming hot if I don't purchase now that I've had it for so long. I guess it's their fault in the first place for giving it to me? Not like I begged, they basically offered it. Never even took my license or a copy of it!



How will the E90 body style impact the sale/resale on the e36?

[m3f_bryan11]

Don't trust carfax too much, or what any dealer tells you. I would put a whole lot more trust in an inspection with a competent mechanic before sale than any other information.



Besides, isn't Inspection II due around 60,000 miles? :nixweiss:

[m3f_hubbstar]

Edgy-



I'm having a hard time keeping my respective threads on different forums the same due to my being firewalled on the other one while at work. I just checked the other thread on my blackberry (SLOOOOOOOOOOOW) and read your post. Feel free to copy my post over to this forum. I can't get there right now.

[m3f_hubbstar]

Don't trust carfax too much, or what any dealer tells you. I would put a whole lot more trust in an inspection with a competent mechanic before sale than any other information.



Besides, isn't Inspection II due around 60,000 miles? :nixweiss:



Yeah, it is. A BMW dealer told me 40k by mistake. That of course got my panties in a twist. Glad to know that's not the case.



Pardon my mechanical ignorance, but what's your definition of a competent mechanic? There's a shop across from my office that does a ton of work for our employees. I've been going there for a while. My dad went there for 20 years when he used to work here. I trust them and they gave me a very clean bill of health. However, should I believe they're competent? They admitted they don't see a ton of BMWs, but how much of what needs to be checked is BMW specific and how much is general mechanical knowledge?

[m3f_vinnie98M3]

Bryan i agree with you and disagree, let me explain.



I think Carfax is a great thing to do before you get a car I dont think it has every information you want about the car like if the previous owner took care of it and did the necessary maintenence but i feel better at least getting an idea about the cars background like where the car came from, how many owners, if the mileage is correct and of course a few other things...I always do a carfax first and then do a visual check. If i like what i see i take the final step and do what you stated bring it to a reputable mechanic, body shop, dealer or where ever i can to do the final inspection. Buying a used car is always hard. You need first to have at least some kind of background about the model car you buy. You cant just buy a car because it was your dream years ago to own one or becasue you like the color and yes there are people that do that.



I would always bring a second person with you so you can have a second oppion. Of course there is more things to list but at least you get the idea of the first few stepes that i recommend is important.

[m3f_97BLKM3COU_0f375e15e2]

Like everyone else said, make sure it is a thorough inspection. Also have them read the engine codes to see if there are any faults, or a report of an over-rev (only a BMW dealer can read this one).



Just because it was in an accident doesn't necessarily mean it is a bad car. If the body shop did a good job, then it should be fine. However, make sure you take that carfax into the negotiation table as the accident and multiple owners can help you take off another $500-$1000. Enjoy the car.

[m3f_Brent_Vino]

bottom line...



IF the dealer said, 1 owner, they are lying.



did the dealer disclose that the car was in an accident? ask them and see if they will be honest. *Important*



You don't owe the dealer jack sh1t... if you take the car back and decide not to buy it, tough shtt... walk away.



The car's last KNOWN record of service was in 2001. It is now 2005. 4 year absence? Red Flag.*******





a mechanic that works on cars doesnt necessarily know what to look for on a BMW. Take the car to an independent BMW service shop.



do NOT buy an aftermarket warranty, waste of money. that 1700.00 can be put to good use somewhere else.

[m3f_hubbstar]

bottom line...



IF the dealer said, 1 owner, they are lying.



did the dealer disclose that the car was in an accident? ask them and see if they will be honest. *Important*



You don't owe the dealer jack sh1t... if you take the car back and decide not to buy it, tough shtt... walk away.



The car's last KNOWN record of service was in 2001. It is now 2005. 4 year absence? Red Flag.*******





a mechanic that works on cars doesnt necessarily know what to look for on a BMW. Take the car to an independent BMW service shop.



do NOT buy an aftermarket warranty, waste of money. that 1700.00 can be put to good use somewhere else.



I got some more color on the accident. The front quarter panel has been replaced (DOT sticker) and both the hood and driver door have been painted. It still registers as a minor accident on CarFax... whatever that means.



How much is that worth in negotiation? The same guy who told me about the body work said the corporate lease isn't uncommon. He also was able to recognize who the prior owner was by a particular sticker on the back right window. He said he wasn't abusive to the car.



Does the body work raise too large of a red flag? Should I walk and look for something else, or should I see if a deal can be made at an appropriate price? Are there future ramifications of the accident and/or body work?

[m3f_95RogueM3]

I think it sounds like a great deal.



Bret Vino, Please. :banghead: the fact that it was a company car is by no means a red flag. It might have been registered by the owner to create a tax break for himself as a company car. (thats just one explanantion)



Also the fact that the car was hit is not a HUGE red flag. Yes, it is something to think about, but not dismiss the car because of. So long as the repair looks good and the dealer didnt try to mislead you regarding any accidents...it shouldnt be of much concern to you (except as a possible bargaining chip).



They are not Lying to you for certain..the car very well could have had just 1 owner...Bret, you really dont know they are misleading him at all.



Take my opinions for what they are worth..but this sounds like a good deal to me...especially if they might be willing to cut you a check for $2500.

[m3f_Brent_Vino]

It is not a 1 owner car..... the title has transferred 3 times. title = ownership. Prove to me that the same person owned the car during each of the title transfers. Show me, I'm from Missouri.



It has been in a major collision. That information alone should knock off 1000.00.



There has been no record of service since 2001? Hmmm I wonder where it has been?



Red + Red = Red.





Brent, not Bret. :banghead:

[m3f_bryan11]

Pardon my mechanical ignorance, but what's your definition of a competent mechanic?



That's a good point and I don't really have a good answer other than to say I took my car to a BMW dealership and for about 100 bucks they looked for leaks, compression test, don't know if they hooked it up to a computer or whatnot but they told me it was one of the better conditioned 98 model M3's they've seen so I bought it. I paid 15 grand and it had 80000 miles on it and the body and interior was is great condition and I took a chance. I can only say it was a chance I don't regret even though I fear a big repair bill at times. This car makes me smile a lot and just the other day my wife said she heard me pull in because my car sounds like it was purring, not like the boring cars we've had. eace:



I'm worried that if you are coming from a Japanese vehicle with better reliability, you may irritated at expensive repairs. Kind of why I think finding a good mechanic is more important than anything and yeah Carfax helps but they just seem "off" a bit. I pulled a carfax report and some other company report and compared the two and carfax seemed more out of date, I was surprised. Carfax only went to 55000 miles and I was buying it at 80000 miles. Big miss there. Plus I read the fine details on their "guarantee" not impressed, lots of exclusions. So maybe if you could take the car to a BMW dealer you'd get the best inspection, hopefully.



My only regret buying my 98 coupe was not spending more money to get a low mileage pristine 99 coupe, this car is just a blast. If fact I think about selling this car and maybe doing it.