E46 M3's price variation

[derin100]

Been watching E46 M3 prices to get a feel of what is what and how much they're worth with a view to etc etc

However, I'm struck by what a wide variation there appears to be for seemly equivalent cars.

Even just looking in the PH classifieds I see an £8K variation on a pair that appear very comparable...indeed it is the one that appears, on paper, that it should be the more desirable that is in fact the one that is £8K less!!! I mean £8K...that's not even close!

Why?...is this just some sellers optimistically living in the past whilst others are reading the writing on the wall with the imminent arrival of the new M3 and 'getting out' now?

Just wondering what something like a reasonably spec'd 2002/3 car with sub-50k miles might settle at in say 6-9 months time?

Grateful for your thoughts.

[m3pilot]

Could it be that some are private and some are on main dealer forcourts. When by boss tried to part exchange his M3 at BMW they were looking to pay around £8K+ less than they had similar cars on there forecourt for.

There will always be private people who try to get forecourt money and those who just want a bit more than they'll get as a part exchange.

[derin100]

Yeah Pilot...although the two comparisons I had in mind in 'our own' classifieds were one private vs one non-main-dealer car. The £8k difference (with the on paper less desirable car being the one with the £8K higher price tag!) makes me think that a main-dealer would be offering the private seller even less thus widening the gap even further?!

I think the prices on these cars are really in a wild state of flux at the moment like no other model? Should settle more in a few months maybe?

Cheers

[baz1985]

Sod it, buy yourself a facelift 996 instead imo.

[derin100]

How much would one of those be? Performance etc?

Might be a better bet longterm? i.e hold it's value better?

Please expand!

Thanks

[baz1985]

derin100 said:

How much would one of those be? Performance etc?

Might be a better bet longterm? i.e hold it's value better?

Please expand!

Thanks

2002 facelift 996 Carrera circa £35k. As quick as M3, Should depreciate less, costs the same to insure. Warranty is £895 a year.

[derin100]

Thanks Baz...but £35K would see me in a very, very nice CSL...

I'm just guessing but surely that's got to out gun the 996 Facelift in every way?...Not least longterm depreciation?

However, with the price gap that has now opened up between 'ordinary' E46 M3's vs CSL's I was thinking more in terms of an 'ordinary' M3 as a daily driver. Lord knows I've got enough cars tucked away in the garage that rarely see the light of day! I don't want another car that I'm not going to drive on a daily basis. If I bought a CSL that's probably how it would end up!

[emicen]

Most likely factors:

Main dealer > dealer > private

Unrealistic view of the cars depreciation

Location in the country (I've found performance cars cheaper to get down south whilst Londoners come up here to buy Punto's etc )

[nutcase]

derin100 said:

Just wondering what something like a reasonably spec'd 2002/3 car with sub-50k miles might settle at in say 6-9 months time?

Grateful for your thoughts.

I would hazard a guess that a car like that (not dissimilar to mine) would be circa £19/20k private and 22k at a top end independent, perhaps 23k at BMW main dealer. You'd want to see Sat Nav/TV, 19" alloys (and decent colour obviously) for resale too.

How does that sound?

[ism123]

I sold my 02 plate 46k miles, fully loaded coupe just before Xmas for just over £20K. It took ages to sell and soooo many timewasters. Dealers were offering £17-18K.

The E46 M3 will take a hit once the new one's out, but if you want one why wait? You'll always be faced with depreciation so just buy, forget about the value dropping and go and enjoy.

[baz1985]

ism123 said:

I sold my 02 plate 46k miles, fully loaded coupe just before Xmas for just over £20K. It took ages to sell and soooo many timewasters. Dealers were offering £17-18K.

The E46 M3 will take a hit once the new one's out, but if you want one why wait? You'll always be faced with depreciation so just buy, forget about the value dropping and go and enjoy.

Oi Oi! Looks who's here

[derin100]

ism123 said:

I sold my 02 plate 46k miles, fully loaded coupe just before Xmas for just over £20K. It took ages to sell and soooo many timewasters. Dealers were offering £17-18K.

The E46 M3 will take a hit once the new one's out, but if you want one why wait? You'll always be faced with depreciation so just buy, forget about the value dropping and go and enjoy.

Either way, I simply have to wait...with 6 BMWs if I bought another one now, before selling a couple, my wife would skin me alive!

[carrera2]

baz1985 said:

derin100 said:

How much would one of those be? Performance etc?

Might be a better bet longterm? i.e hold it's value better?

Please expand!

Thanks

2002 facelift 996 Carrera circa £35k. As quick as M3, Should depreciate less, costs the same to insure. Warranty is £895 a year.

As has been said that's CSL territory.

From my experience a 996 is NOT as quick as an M3. I had numerous run-ins with them when I had my Porker and was always humiliated.

[rob05]

Agreed my M3 would have left my 911 for dead performance wise although it never felt as special to drive as the porsche.

[djohnson]

rob05 said:

Agreed my M3 would have left my 911 for dead performance wise although it never felt as special to drive as the porsche.

I have to say that below 100 mph my 996 doesn't feel as quick as my E46 M3 did. I think its partly down to the more linear delivery of power in the 996. Although I did really love the way the M3 took off at circa 4000 rpm.

[adom]

Just picked up an 02 plate car privately with 31k on the clock for £18.5 - very impressed so far and while it is totally different to my 993 and not as special/challenging, it is definitley quicker.

[Maverick73]

Just sold my M3 SMG 04 (16k miles) for £25k to a BMW dealer - suspect might have got more if had sold it and waited a bit longer. At the end of the day you will always suffer depreciation and have to leave with that as well as accepting that a car will always sell for more at a delaer (peace of mind....). New 997 arrives in March, defintely quicker than a M3 and more driving fun but nothing will ever beat an M3 for speed, comfort, practicality and good honest fun in a "cheap" package.

[derin100]

Thanks for that advice.

Especially Adom and Maverick at the end there. Yes, Adom looking at your price and then seeing that there seem to be equivalent cars (i.e. year 2002, same mileage etc etc) in the PH classifieds for circa £5K more makes me think there may be a degree of optimism in some? Seems that Maverick got (albeit from a dealer)not much more for an '04 car with half the mileage?

I've got cars I need to sell first anyway before I can look seriously so hopefully by then the market will have settled and become more consistent.

Thanks again

[tayloralj]

as to what they'll settle at who knows, but i can take a guess at what they won't be less than.
i've currently got an 2002 M3, okay spec, manual, 19" wheels, carbon black & grey leather and a few bits & bobs. no sat nav or sun roof.
for one reason or another related to cashflow, weddings & house moves, when i got it i took a finance deal with a pay the balloon value or handback. its due to go back feb 08, with a value of 12.5k with a condition of <40k miles,(had only got 18 when i got it).

i'm guessing at that age a bmw dealer would be unlike to see it as an auc car, but no doubt as a clean low mileage & owner version some enterprising soul will take it off their hands,polish it up, add 5k and stick it on the forecourt and start the haggling.

[Seany88]

tayloralj said:

as to what they'll settle at who knows, but i can take a guess at what they won't be less than.
i've currently got an 2002 M3, okay spec, manual, 19" wheels, carbon black & grey leather and a few bits & bobs. no sat nav or sun roof.
for one reason or another related to cashflow, weddings & house moves, when i got it i took a finance deal with a pay the balloon value or handback. its due to go back feb 08, with a value of 12.5k with a condition of <40k miles,(had only got 18 when i got it).

i'm guessing at that age a bmw dealer would be unlike to see it as an auc car, but no doubt as a clean low mileage & owner version some enterprising soul will take it off their hands,polish it up, add 5k and stick it on the forecourt and start the haggling.

Tell you what, come feb next year stick another post up and i'm sure a few would snap your fingers off for it at £12.5k! (I for one probably would)