Good deal on a car.. I'm suspicious. Help me out.

[lupin]

OK,
I got a good deal for a car that I want to buy. The problem is, it's too good of a deal I'm afraid there is something about it that's not right.

It's an '88 with 65,000 miles on it. The guy is selling it for $10,000. Due to the rarity of this car, and the fact that most of the ones out there have 100,000 miles or more, a car with 65,000 miles can easily sells higher than $15,000.

I talked to the seller. He's the fourth owner. First two are ladies, third is a college kid, and this guy is married and have 2 kids. Now what's not normal is this: The car was on a rain, and the previous owner had to replace the whole interior b/c it was damaged by water. The car is not a convertible, so it's kind of strange. Although the car does have a sunroof, so it's still a possibility.

Other than that, and a minor accident in the front fender (how minor?? I don't know myself.) everything is clean. I checked Carfax, and records are clean.

I'm not sure, I'm just suspicious. Do you have an idea of why the owner might be selling it so cheap? One thing is I'm pretty sure he knows the value and the rarity of the car.

Anyway, here are the pics he sent:
Exterior
Interior
Engine

Thanks for reading.

 

[Angrymarshmello]

For $10k you could get a newer used car, although I understand this is probably the car you want. Are you buying it off the net, or through a local classified via email? Theres only one way to see if its a good deal and it's to take it for a test drive and have it checked out by a certified mechanic w/ knowledge of BMWs.

 

Definitely a rare find on the old M-series. Don't see'em much. Don't know too much about that particular engine... What does the M-4cyl. have over the regular 325? Good thing the M3 has that sweet inline-6 now. $10k seems so much for a 10+year old 4 cylinder, rarity considered.

 

[lupin]

hehe..

NEW is not there key word here.

Thanks for the input though.

 

[PG]

I don't know much about BMW's, but this doesn't seem like a good deal to me. It's 12 years old! The damage also would worry me. What if they didn't dry it out properly before they replaced the interior. That moisture could still cause problems later.

 

[woodie1]

M3s are usually driven very hard. I remember a magazine article on used ones and they strongly recommended an inspection by a BMW mechanic. Focus on the clutch and head/head gasket area and water pump.

 

[DanC]

Old Borg philosopher say.

If seems too good to be true - probably is not good deal in long run.

(or words to that effect)

 

[vi edit]

Just the fact that the car is 12 years old and has probably had the sh!t run out of it would be enought to turn me away from it.

 

[ultravox]

It's worth the cost of having it checked out by a BMW shop to let you know what needs to be serviced. Then use that as leverage to negotiate the price .......everything is negotiable.

If ever there's a doubt.....there is no doubt. (Robert Deniro)

 

[lupin]

Bobtist,
A regular inline 6 BMW is nothing compared to the 4 cyl this car has. The 4 cylinder shares the same block as the one BMW used in their F1 cars then.
This, in addition to other factors of the car makes many BMW enthusiast consider it the true M3. (We think the newer M cars are built for marketing purposes).

About the $10,000 pricetag,
The market price for the same car with 100K mileage is $12,000.
The market price for the same car with less than 45K can be as high as $20,000.

To give an idea of the level of competitiveness this car has, these are the outcome of a recent club race at Sears Point:
Position Car
1. E36 M3 (years 1995-1999)
2. E30 M3 (the one I'm looking at)
3. E30 M3
4. 328is
5. E30 M3
6. E36 M3 LTW (special edition version of the E36 model, race ready from BMW)
7. 325 is
8. E30 M3
9. E30 M3
10. E30 M3
11. E36 M3 LTW (another special race version of the E36 model)

hehe.. not bad for a 11 years old car yah?

keep the input coming.

 

Good points. I can just see the college boy fishtailing around every turn in his M3. That's what I'd do at least. Be careful

 

Sounds like a solid block to put goodies on top of. Going SCCA or something? Well, in any case, I know how enthusiasts are. You like a car, you like it. I'm the same way about Datsun Z's of the 70's (ok, so I like inline 6's).

You obviously know your M3's, good to know people still make educated purchases these days.

 

[SuperGroove]

Great Car, lupin. If it's been in the rain like you said, it probably has a salvage title. Get the VIN, and check it out. However, drive around other M3s, and then afterwards if it feels just as good as the others, take it to a mechanic. Sometimes you find treasures with salvage titles. It's just a shame you will get next to nothing if you sell it.

And Guys...nothing's wrong with a 11 year old car. I wouldn't mind driving a 11 year old G60 Corrado. I wouldn't mind driving a '83 Porsche 928 or '78 Porsche 911SC! I expect them to be beat up...usually the seller's don't love the car for reasons other than to show off, while people who buy em this old and so used, are desperate for these cars because they buy em to love em.

Paul

 

[lupin]

SuperGroove:

I checked the VIN on Carfax, and it's clean. Do you think they're reliable??

 

[atom]

If carfax says it's clean, most likely it is. I guess the next step would be to go to a mechanic and leverage the price from there. Good luck.

 

[perry]

Interior flooded out due to rain. No thanks. Never know where water got into and what electrical systems will fail in a few months. Pass on it.

 

[eia430]

Lupin, if you are suspicious about the milage then I suggest having one of those guys that come out and test cars do that to that car. You pay them like $150 or so but they check everything from compression of the cylinders and wear rates of different items throughout the car. They usualy can judge if the wear rates on items on the car match the readings on the odometer. It's easy to turn back an odometer, but it's darn hard to keep compression values up, rotor wear down, vacum at idle up, etc. Having said all that if that M3 really does only have 65000 real miles on it it's a keeper, that's a great car. With just a few tweaks here and there you can develop 250+ hp out of that little 2.3 the E30 chasis is known for it's quick response to steering input and composure during rapid center of gravity shifts. You'll have quite a little honey of a car.

 

[Stallion]

It seems a little fishy that the interior could of got that wet from the rain unless he forgot to say that the rain lasted for 10 strait days and it was under 4 feet of water. As far as the price maybe he lost his job and he needs money or he has trouble betting on the "ponies" and he owes some loanshark money. There could be a lot of reasons why the price is low the only bad thing is you never will know why till you buy it.

 

[Tominator]

With a leather interior, even one good soaking could ruin it! A soaked carpet and padding would almost surely mildew and rot. The ONLY correct way to repair is replacement.

The BMW Certified Mechanic would be your next move.

If he gives the thumbs-up and you are not taking out a loan AND realize it will need more care than a 'normal' auto, I say go for it!

 

[StageLeft]

Definitely get it checked out by a BMW mechanic and ask his honest opinion of it.

Next car I buy I will go to the dealer and pay for a full-over checkout of the car. I bought a decade-old accord earlier this year and after 6 months had sunk $2k into an otherwise great looking car. Just things going wrong all over the place (transmission was the kicker), never buy a used car without a check-out first

 

[lupin]

Yeah,
Getting the car checked by a mechanic is definitely a must.

I'll also try to get another E30 M3 owner in the area to come and test drive the car, so he can tell me if something doesn't feel right.

 

[ultravox]

Nothing at all wrong with an 11 yr old car....perhaps not a LADA but a car of this calibre is usually well maintained. Don't forget, the people who owned these cars usually had the means to do the proper upkeep on them. I drive a 10 yr old Audi Quattro 20 v and it runs just as sweet as he day I bought it.

 

[Triumph]

i don't care what kinda car it is, or was when it was new. i would never spend 10,000 smackers on anything over about 7 years old. course that's just me. sure, it was a good car a few years ago, but it's getting up there in age. look at that interior! my dad's 85 Audi was and still is a great driving car that probably cost 20 grand new, but it ain't worth 1000 bucks today.

i think your money would be well spent elsewhere.