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Looking to buy a BMW M3 need help

4K views 43 replies 24 participants last post by  MJLavelle 
#1 · (Edited)
Hey looking to sell my 323i and get a ///M3 (i know the lines aren't necessary but it looks pretty cool lol) I'm having trouble finding good deals here in Oregon i know part of it is haggling the dealer down but its hard to find one in my price range I'm trying to find something like an 01 with 100k+ Miles (12k-13k) (this would be on a financing basis i have $3k down and with the 323i on how much i owe i will basically break even) i have looked at salvage m3's in my area but I'm pretty sure they are scam's since multiple websites have the same cars being bid on at different price's. Any suggestions would be greatly appreciated! Thanks in advanced and sorry for the poor punctuation.
 
#2 ·
Keep your 323 and save your money longer to get a decent ///M " the lines look cool". Why waste your money on a M that will need repairs that will cost tons of money that you can't afford, M's are a whole new dragon when it comes to proformence and maintenance

Hope that helps
 
#8 ·
as much as i loved getting an M3, being (IMO) the best driving machine ever :bow:, however after considering the fact that in maintenance alone it's gonna suck me dry, i ended up buying a ZHP. it's no joke owning an M3, it's not like u'r gonna pay the financing and filling it with gas. if u get an M3 with 120k on the clock and the previous owner didn't keep it in pristine condition, u'r gonna be financing in repairs also :eeps: sh!t i'm even saving an amount/month for my ZHP just to keep it in tiptop shape (i'm a fanatic when it comes to maintenance), and it's been extremely well maintained, let alone an M3 :(
 
#13 ·
But to conclude i have decided to wait on the m3 until I'm graduated, the maintenance i could afford but i think i could spend that money on much better things than a fast car thanks for the advice all! Man i hate being broke lol, at least i went into a profession where i can afford these kind of toys when i get established (computer programming)
 
#22 ·
Great idea. Trying to force the issue by settling for a very high milage car, or one with a salvage title, is just going to be a waste of money in the end. I went through similar situations when I was younger, and even financed a brand new car. When I finally got smart, and looked at what I had actually paid for that car, and what it was worth when I was done, I decided I would never do that again. I drove that car for 7 years, and kept it in good shape. By that point, a car that old and in great mechanical/cosmetic condition actually was worth a decent amount. I sold it, and took some savings, and paid down about 70% on my next car, and financed the other 30%. I fixed a few issues, kept the car looking great, and sold it as soon as I had paid it off, for the price I had paid originally. From then on, I have paid cash only for cars.
Once you build up to a certain level, you can have a car that does not depreciate badly, keep it maintained, and sell it a few years later. We actually have an account where we put a certain amount each month as a "car payment". It is actually just savings to add to the money we get when we sell the current car, so we can upgrade, but still pay cash.
Once you can break the credit habit, it frees up so much more money. It is also good to know that you owe nothing. That is a great feeling.
We have friends that make half of what we make, but they have 2 new cars in the driveway. They are in a position where one missed paycheck could topple everything. I don't want that stress for me or my marriage.
I see people I work with driving brand new BMW's, and I know they are in debt up to their ears. They are constantly sweating the annual bonus, because they are desperate for breathing room. So, I do not envy their cars, I just feel sorry for them.
Trust me when I say, you do not want to be that guy.
 
#14 ·
I ran an M3 cab a few years ago and when I went to buy another recently I came across a 2002 full Mtec 330ci Sport manual cab with good spec. I can honestly say the 330 gives me 90% of the enjoyment and performance (Max speed 250 kph (155 mph) 0 - 100 kph 6.4 s and 0 - 100 mph 16.6 s)
the M3 did for a 1/3 of the costs. Might be an idea to have a look at those.

In the meantime, here's a couple of pics of mine.





I don't know what the prices are like in the US but I paid £3900 for the car +£350 for the hardtop, 78k miles fsh and 3 previous owners. A similar M3 over here (UK) would be around £8-£10k
 
#17 ·
Hey looking to sell my 323i and get a ///M3 (i know the lines aren't necessary but it looks pretty cool lol) I'm having trouble finding good deals here in Oregon i know part of it is haggling the dealer down but its hard to find one in my price range I'm trying to find something like an 01 with 100k+ Miles (12k-13k) (this would be on a financing basis i have $3k down and with the 323i on how much i owe i will basically break even) i have looked at salvage m3's in my area but I'm pretty sure they are scam's since multiple websites have the same cars being bid on at different price's. Any suggestions would be greatly appreciated! Thanks in advanced and sorry for the poor punctuation.

Idk what me calling him a snob and a salvage title have anything to do with each other but OK....and i never said my car was worth 3k the blue book is right around 5.6k and that's really not all that bad since i put 20k on the engine and i bought the car from a dealer.
Well there's the first place you're going wrong. Why are you buying used cars from a dealer?
 
#18 ·
Whatever you do.



Your m3 needs to be yellow. Its the only way.


But Srs. 12k M3 = 25k M3 within the first year.
 
#19 · (Edited)
You're doing the right thing by waiting.

To put it in prospective, I have a 330ci. I could go out and buy an E46 M3 in cash if I wanted to. Buy they're not cheap to upkeep. VANOS is something you can't let fail, and look at how much that costs alone. Look at a set of tires. If you buy a car that needs a VANOS, a set of tires, and a clutch within the first year...well, you do the math.

You're a male in your early 20's? An M3 will likely cost you an additional $1000-$1500 a year more in insurance costs and gas. This stuff adds up.

First rule in life...live under your means.
 
#20 ·
Full coverage is 2100$ a year alone for me..... A tank a week @ 60$ per now...3120$

Thats over 5k a year....not including a car payment....only had 1 year @ 550$


Just under 12 thousand a year.....not including maintenance.

Now that i look at those numbers....what the literal ****.
 
#21 ·
I think your choice to hold off for now is a good one. the better choice if needed would be an ultra clean 330 if one showed up cheap. since you're in no hurry just keep an eye out but don't hunt too hard. Enjoy your car, the 323i is still an E46 and a darn good engineered car (minus subframe).
 
#23 ·
Guess my experience has been different than most. I was very happy with my 330ci, but I came across a local salvage title 04 M3 w/ 39k miles in 2011. Did my due diligence (carfax, PPI), determined the car was run into roadside swale, and was repaired correctly. These cars were very expensive to fix with new parts, so many were totaled with limited damage. Now, there were some issues the dealer didn't bother to uncover (NEVER take your to a dealer for a PPI ... that's another story). I'm an engineer and a DIYer that enjoys learning and working on my cars, so I've put time, not money, into the car. There are so many DIY resources available for the M. If you can follow step by step instructions, you can do all the maintenance and most repairs. My car is very reliable so far, though I've only driven it 10k miles.
With all that being said, I have the peace of mind knowing that if something major fails I won't go without transportation or go broke fixing it.
 
#25 · (Edited)
I would not rule out buying a salvage car, but that is only because I have the money to play with. I was seriously close to buying two salvage M3's a few years ago. One was a flood damage, and another had been in a serious side impact. The flood car was cosmetically perfect, but I would not trust anything but the body, and I would have done a lot of work to make sure it was cleaned and dried out. I was going to use 90% of the mechanicals and 100% of the electricals from the car that had been in the side impact. The idea was to end up with one M3 that was a perfect runner, and to see how much of the mechanicals could be saved from the flooded car to keep as spares or possibly sell. But that was before I was diagnosed with cancer, and I decided that was a project I could not take on, and I was worried that the flooded car would rust away before I could get it in shape for storage. Since I have been out of action for 3 years now, it probably would have rusted away, and cost me a ton in storage, so I am glad that I did not do that.
But, that car would have been something that I would probably never sell, and I would never even count it as an asset. It would be for me, and me only, because most people would hesitate to buy it.
So, if you have the spare cash around to do that, then a salvage title is fine. But it is not a daily driver, and not something you will make a profit on, if you are honest. If you can meet those criteria, then you can end up with one hell of a car, for bargain prices.

Edit: I am not saying that a salvage car can not be a daily driver. But, unless you have the time and the money to get it into DD shape, and keep it that way, it is not a good choice. If you have a reliable spare car, then you have met one of the criteria for a project like that. If it is going to be your only transportation, and you are under the gun all of the time to keep it running, then you should not try such a thing, IMO.
 
#27 ·
I agree that my salvage M3 is a blast to drive, with no worries about problems, as I have a solid backup car. Actually the M3 has become my DD over the past year, I just can't avoid picking it in the morning. Now I disagree that it is "worthless", as there are those (like me) that are not scared to take a chance, or I could easily break it down and sell the parts. I just purchased a rocker panel and interior trim from a local recycler. Per my conversation with him, there is definitely value in the parts and they go quickly.
 
#43 ·
Well, it may not be "worthless", but it would not get the same money that an M3 with a clean title would get. And if I had followed the plan that I had laid out, then it would be worth a lot more to me than it would be to anyone else. So, in my eyes, it would be worthless because I would never consider it a sellable asset. It could be parted out, but if I put that much work into it, then you can be sure I would still be driving it 20 years from now. :)
 
#29 ·
I just looked at my maintenance stuff: $5700 in 3 years.

And that's for a 330ci, not even an M3, and with 90% DIY.


I've got another $1500 coming in a couple months: shocks/struts, VCG, CCV, VANOS, OFHG.


Add in the purchase price ($18900, paid off at 3 yrs) insurance ($3700) and gas ($8205) spread over the 3 years, and my 3 year cost of ownership for the ZHP has been......

$36,505

Or $12,000/year. Yikes.

:lmao::lmao::lmao::lmao: And OP wants an M3? :lmao::lmao::lmao::lmao:

 
#36 ·
Have owned my 02 330ci since 03 and my 04 m3 since 2011. Both have extremely reliable so far. Just replaced the original 330 battery 6 months ago.

Those of you overly concerned about spending money on basic maintence should not drive a bmw. A honda civic may be a better fit. Though my bmws have been more reliable, and much easier to maintain than the Acura Integra GSR and Ford Exploder I once owned.
 
#41 ·
Dude, your sig.



Its.....perfect.
 
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