E46 M3 Conv Urgent help needed! what's this car worth?

[Janker]

Private sales (not dealer)
2001 51 Plate
E46 M3 Convertible
SMG
Met Grey
Black Leather
Heated seats
Hard Top
Xenons
Harmon Kardon
19' M3 Alloys
SAT Nav/TV
BMW Warranty till Nov 06
72k
2 x Owners
All recalls done
FBMWSH

What would you offer for it?? - going to see it next week and I'm pretty keen.. Is the mileage an issue?

[d1bble]

I probably don't have to tell you this, but go in low.
If needs be walk away leaving your number. You can always go back and increase your offer.

Might be worth creating a spreadsheet, going on autotrader.co.uk, taking down all the prices of all M3 conv within a year or so and dividing them by the number and going in under the average price.

[rob05]

Around 16- 17k cheap 18k sounds about right 19k max for a real minter.
These cars are really mileage sensitive so i wouldn't buy it with those miles.
IMO plenty of cars out there for 20k with less miles take your time as there are plenty of sellers but no buyers.

[Phil Dicky]

I would go really low on price max £16k as the mileage will be a killer, imagine trying to move it on with 90k miles in 3 years time. As has been said loads of examples out there and the spec is easily found elsewhere.

[Janker]

Thanks for your help guys - viewed it today - it needed the following doing, overall it was in nice condition for the age/mileage:

Few big stone chips on bonnet (touched up with a colour stick pen)
Dent in wheel arch
Grooved front discs
Scuffed rear bumper
Misted up indicator lense

The guy was nice and the car seemed 'level' - he wanted 22k and not a penny less....

Guess he'll be waiting a while then! - my desire nearly got the better of me - so is 16k the money for this then?

Managed to see a copy of Glasses Guide from July 06 and it valued it at:

Retail 51k miles £22,850
Trade 51k miles £19,850

Deduction for excess mileage - subtract another £1950 from the figures above.

Also Glasses Guide said they were dropping £675 PCM in value so its Sept now and that another £1200 off!

Thanks again guys..

[rob05]

Janker.
Forget what the books says dealers only use that to their advantage to shaft you or as a guide
True indications of what cars are worth or market value can be found at auction or in the auto trader.
16k isn't the going rate because you must take in consideration many factors when buying a used M3 over 2 years old.
Here are the four basic.

1)Overall condition and price
2)Mileage and age
3)Running costs over your period of ownership.
4)Depreciation.

I used to sell cars for a living many years ago so i would like to think i have some understanding of buying and selling them. (ER..... I HOPE.)
Before i bought mine i did 3 months of research on the M3,i asked my friends for buying advice who are in the trade or have owned them and also here on phers.
Then i checked out the used prices for a while and went to the auctions,my brief was always to find a car for 25k that had fbmsh and warranty so that i would have the option to extend it.
In the end i bought a car that was in good condition but needed money spending on it to make it mint,at the time 5 months ago it cost me 25k,
Ive since spent

£1050 the warranty
£600 on stone chips
£400 rear tyres
£200 oil service
£160 Pads

Looking back i could have bought at BMW paid their expensive prices and saved myself a lot of time and hassle for the same car.
My advice would be take your time and take in to consideration all factors before buying because its so easy to blow money when the heart rules the head.
So many so called cheap cars out there just remember these cars are expensive to run and in my experience after looking at so many you generally get what you pay for.

Edited by rob05 on Monday 4th September 13:27

[colinrob]

I am also after a M3 convertable the MD at work is selling his it is a feb 2003 SMG with satnav, 19" alloys, tracker, harmon kardon, well every option that was avalable. He treats his cars as though they are his babies car covers at work etc only done 10,000, the car has never been parked anywhere and left apart from at work rarely used in the winter what price do you think ? (I rekon around £28 000 it is a real mint car and the interior is probably better than new)