Decisions, Decisions

[PricklyPete]

So I'm possibly thinking about selling my M3. Not in any rush, but starting to consider it. Don't get me wrong, I love the car...well to be honest, I love the engine. The car handles well and also looks great, but has other short comings (I have never loved the gear box or the ride).

It is becoming "work on my car" season here in Florida as the weather has started to get nicer (it is a sauna in my garage otherwise). I started calculating how much I will need to replace over the next 6 months:

- dampers all around
- front and rear control arm bushings
- possibly rear springs (they are known to be proplematic)
- possibly new bushings for the rear subframe.
- clutch, guibo, and related parts (previous owner must have rode the crap out of this car...possibly related to the stupid CDV that I'd like to remove)
- differential bolts
- transmission mounts (firm up drivetrain a bit)
- brakes
- tires
- CEL light coming on intermittently for Secondary Air System. I haven't diagnosed what is the problem yet. Could just be a vacuum leak or sensor issue. Could also be worse and I will need a new pump.
- Inspection II (including valve adjustment which is pricey whether I do it myself or get it done somewhere)

If I do most of the work myself (minus the tires of course) , I'm guessing parts will be around $4000 minimum (including tires). Probably heading toward $5000. If I have someone do the work (depending on my free time), you can start adding on cost quickly. I was fine with this until I started to realize that I'm likely to be getting rid of it in the next year or so. I'm not really wanting this to happen, but it may have to. Two reasons:

1) We are "attempting" to start a family. Still in the early stages, but when it happens, we are likely going to want a car with a little more "functionality" that has a rear hatch of some sort.
2) There is a 60%+ chance that I will be moved to Europe with my company. Of course I could bring my M3 with us, but in conjunction with point one and the fact that they will likely give me a company car while I'm there...I doubt I would (if they give me a company car...they won't be paying to bring the M3 over).

Anyway, I'm just starting to think through the process. Not sure if it is worth it to me to start sinking in the maintenance money when it is likely that I will be getting rid of it anyway in the next year with nothing to show for the money. Technically my wife and I only need one car (she works from home and I work from home 50% of the time and that will change to 100% in spring until the possible move to Europe), so I could sell it now and just put the money in the bank until we figure things out.

Thoughts? Am I being an idiot? When it comes to cars, I usually make horrible financial decisions...but I'm thinking selling it for a change might be a good one. I'll always be able to buy another one down the road.

 

[Tristicus]

I'd sell it before you have to do all the repairs, especially if you think you'll be moving to Europe for sure.

 

[manimal]

What are you thinking of selling it for?


Since you need to ultimately sell it put it out there at feeler price and see if you get a whale.

 

[PricklyPete]

What are you thinking of selling it for?


Since you need to ultimately sell it put it out there at feeler price and see if you get a whale.

That's my thought. Just throw it up and see if it generates some interest. I was thinking somewhere in the neighborhood of $15K would be great. Honestly I'd take less for it. Seems 15K is a reasonable price for a 2002 with 84K miles on it. The interior isn't perfect (some of the trim on the doors hasn't held up well) and the buyer is going to know that an immediate investment in Inspection II will be needed.

 

[SearchMaster]

Other than loving the car, it doesn't sound like there's a single reason to keep it and a lot of reasons not to keep it. As an alternative, you could forgo most of that maintenance until you know a little more about your situation (family, Europe move, etc.).

 

[satyajitmenon]

That's my thought. Just throw it up and see if it generates some interest. I was thinking somewhere in the neighborhood of $15K would be great. Honestly I'd take less for it. Seems 15K is a reasonable price for a 2002 with 84K miles on it. The interior isn't perfect (some of the trim on the doors hasn't held up well) and the buyer is going to know that an immediate investment in Inspection II will be needed.

15k for an '02 M3 with 84k miles is a pretty decent price. You might even get a bit more from a private buyer.

But if any of the maintenance you've mentioned is something the new owner will have to do right away (i.e. within the next 2 months), then you might see people offering a little less.

Oh, and pics of the car?

 

[PricklyPete]

Other than loving the car, it doesn't sound like there's a single reason to keep it and a lot of reasons not to keep it. As an alternative, you could forgo most of that maintenance until you know a little more about your situation (family, Europe move, etc.).

This is definitely possible. I know I need to do inspection 2 within the next 1000 miles which would probably be early next year. That right there will cost me close to $1k. I don't need to rush into it, but I might just put it up for a reasonable $ amount and see what happens.

Pics as requested (these are a year and a half old) :

http://pics.bbzzdd.com/users/PricklyPete/2002m3_pic1.jpg
http://pics.bbzzdd.com/users/PricklyPete/2002m3_pic6.jpg

 

[PricklyPete]

15k for an '02 M3 with 84k miles is a pretty decent price. You might even get a bit more from a private buyer.

But if any of the maintenance you've mentioned is something the new owner will have to do right away (i.e. within the next 2 months), then you might see people offering a little less.

Oh, and pics of the car?

The Inspection 2 is pretty soon. The rest is not immediately needed, although I believe the dampers and bushings are contributing to the poor ride. The tires are fine right now...but I wouldn't give them more than 6 months if driven properly.

 

[PricklyPete]

15k for an '02 M3 with 84k miles is a pretty decent price.

After doing a little research, it appears I should be able to get that price +/- $500 without issue. Definitely starting to consider this more seriously.

 

[Doppel]

Dump it.

 

[exdeath]

You sure there is something wrong with the ride or were you just expecting something more cushy? Rough ride and beefy clunky drive line is pretty typical of this type of performance car.

 

[PricklyPete]

You sure there is something wrong with the ride or were you just expecting something more cushy? Rough ride and beefy clunky drive line is pretty typical of this type of performance car.

The ride is never "smooth" and I always realized that. It is particularly bad now and needs to be addressed with the fixes. Don't get me wrong, I love the car and am fine with the rough ride. That being said, E92 M3's I've been in have significantly "better" ride with similar/better performance.

The gear box is not just because it is "clunky". It is notoriously "crunchy". You really have to learn the car to shift smoothly compared to other BMW's I've driven.

Again, neither of these reasons would make me get rid of the car. I'm fine with both of these issues and LOVE the car. Getting rid of it is because of the other reasons listed.

 

[ponyo]

You listed all the reasons to sell and no reason to keep. It's time to move on.

 

[SearchMaster]

The Inspection 2 is pretty soon. The rest is not immediately needed, although I believe the dampers and bushings are contributing to the poor ride. The tires are fine right now...but I wouldn't give them more than 6 months if driven properly.

Tires and brakes are safety items and obviously should be taken care of when needed. As little as you've indicated you drive, the car isn't going to magically fall apart in the next 5 months if you don't get the $1000 inspection My recommendation is to (1) wait a few months and put as little $ in it as possible, or (2) sell it now. Putting money in it now under the uncertainty seems pointless, you'd never get that money back when you sell it.

If you move to Europe, it shouldn't be that hard to find nice German performance cars.

 

[PricklyPete]

You listed all the reasons to sell and no reason to keep. It's time to move on.

My reason to keep it would be that I love it. But I agree, my current state of mind is telling me to sell.

 

[PricklyPete]

Tires and brakes are safety items and obviously should be taken care of when needed. As little as you've indicated you drive, the car isn't going to magically fall apart in the next 5 months if you don't get the $1000 inspection My recommendation is to (1) wait a few months and put as little $ in it as possible, or (2) sell it now. Putting money in it now under the uncertainty seems pointless, you'd never get that money back when you sell it.

If you move to Europe, it shouldn't be that hard to find nice German performance cars.

I'm probably going to do a hybrid of what you are saying. In the next month, I'll probably put it up on autotrader and let it sit there at a decently high price and see if anyone bites (I will let them know the Inspection 2 is looming). If nothing happens after a few months and I'm still intent on selling it, I'll start dropping the price as needed.