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[Melb] 2003 SMG M3 133kkm... $29k?? Legit or Buyer beware?

3K views 15 replies 12 participants last post by  MickeyB 
#1 · (Edited)
http://www.carsales.com.au/private/details/bmw-m3-2003-13416656?base=1216&vertical=Car&cr=0&eapi=2&__N=1246+1247+1252+1282+4294967079+4294966879+1216&num=15&silo=Stock&Range=Mileage:Min,150000|Year:2001,Max&sort=~Price

So I seen this one popup while I was hard at work here in the office...

Other than the mileage being a little on the high side for most people here.... It looks like a reasonable price?

Is there a reason this hasn't sold, that I don't know about?

I wasn't even in the market for an M3 but strongly considering checking this one out.

Good colour combo + good location + sounds like a legit owner.... what's the catch?
 
#3 ·
Saw that one.

Buyer has dropped price pretty quick from about $36k down to $29.5 over the last 2 months.

Certainly worth a look but 100% get a PPI. I looked at one in QLD that was Phoenix Gold and price was dropped down to $28k and he told me it was perfect and would even throw in his work wheels with the car. I got a PPI and even tracked down 2 previous owners. Turned out the car was tracked....a lot, was a flood damaged vehicle but never reported as owner fixed at their expense to keep the title clean and the subframe had 2 massive cracks. So just be careful.
 
#6 ·
This is what i am starting to think also, have been searching the net alot recently and the M3s for sale seem to be a little optimistic with prices. Id love to buy one i really would but cant see it being easy to sell in 2-3 years when i have had my time with it, would be a massive financial loss.
 
#7 · (Edited)
All cars depreciate a lot. 2 years ago, a 2002 M3 with 100k+ kms was being advertised for $40k'ish. In my opinion, the M3s that will hold more value are ones that have unique/rare combos. Everyone seems to want a white manual. People don't seem to like the Phoenix Yellow. I'm sure people will pay a lot more for a white manual over a Phoenix Yellow SMG. In my research, it seems silver and carbon black are the 2 most common colours for an M3. Put them with an SMG and you have plenty to choose from. Condition of the car varies a lot too. The M3s advertised at the lower end of the scale I'd believe would be in a worse condition than those asking for more. I'm pretty sure the OP's linked car has a very worn interior e.g bolsters. It's still worth a check tho via a PPI.
 
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