M3 $ value

[das144]

We found a 2006 e46 M3 with only 3k miles.
Convertible, SMG, long list of dealer installed Dinan options.
I think I can get the car for $38k.

My question for everyone is:

Will a low mileage e46 hold its value. I will likely drive and enjoy the car for 2 years. When I sell it will be 2015 and the car will likely have 24k miles on it. Still a VERY low mileage car. The car is in perfect condition now (I mean not even a wrinkle in the leather on the drivers seat) and I keep my cars immaculate so it will stay in this condition.

Is it insane to pay close to 40k for a 2006 M3 or do the miles and condition of this car justify it. Thinking it will depreciate but not so much with the very low mileage and the fact that there is a pretty strong following for the e46 //M cars.

[Rumspringerdaily]

Originally Posted by das144

We found a 2006 e46 M3 with only 3k miles.
Convertible, SMG, long list of dealer installed Dinan options.
I think I can get the car for $38k.

My question for everyone is:

Will a low mileage e46 hold its value. I will likely drive and enjoy the car for 2 years. When I sell it will be 2015 and the car will likely have 24k miles on it. Still a VERY low mileage car. The car is in perfect condition now (I mean not even a wrinkle in the leather on the drivers seat) and I keep my cars immaculate so it will stay in this condition.

Is it insane to pay close to 40k for a 2006 M3 or do the miles and condition of this car justify it. Thinking it will depreciate but not so much with the very low mileage and the fact that there is a pretty strong following for the e46 //M cars.

You want to spend that much on an e46 m3? Vs buying an E92?

[spdy330]

I think that is way too much for a 2006. Good luck with your descision.

[Kwando]

Cars with that low of milage aren't necessarily the best deals to go for. This one in particular, for example, has been sitting most of it's life having done less than 500 miles a year. I think it's a common misconception that just because it's basically showroom condition with no miles on it that it's still worth huge sums when in reality it's old and dated..who knows what problems are hiding from sitting around for 7 years. I wouldn't recommend it when you can spend a little more on a E9x that's actually been driven some miles and maintained accordingly. I personally dont think there people will be lining up to buy a E46 M3, which will be nearly 10 years old, in 2015 who will pay a premium just because it's low milage. It's not a E30..

[das144]

Appreciate the feedback... I havent seen a nice e9X with low miles for $38k. The ones I have found aren't in the condition i would want. I specifically posted this here because I knew if I posted in the e46 forum I would likley have people telling me the e46 will hold value - needed some perspective.

[Hurricane]

Originally Posted by das144

Appreciate the feedback... I havent seen a nice e9X with low miles for $38k. The ones I have found aren't in the condition i would want. I specifically posted this here because I knew if I posted in the e46 forum I would likley have people telling me the e46 will hold value - needed some perspective.

Before making a decision on the E46 make sure you review the classified section on this site. I just looked and saw a very clean 2008 E92 with a lot of options with 44,000 miles for $40,000.

[Giggs]

Go on autotrader.com and some other sites and look at what e46's are selling for that have ~24k miles on them. That will give you an idea of how much money you will lose over the next two years. Then estimate another 20% or so depreciation on top of that. I would imagine when you go to resell the car in 2015 that you'll get less than $20k for it. Obviously this is totally a guess but its a car and a depreciating asset. If you really want an e46 i would suggest finiding one with more miles that you can buy now for half as much, then in 2 years when you go to resell it you won't lose your rear on it. If you like wasting money tho, buy this one.

[SWOT1]

I’d highly suggest shopping for a CPO 2009-10 E9x! You can definitely find a clean, low mile (with extended warranty!) E90 or E92 for around $40k. If you plan on using it as your DD, this is the way to go!! Not to mention that the DCT is significantly better than the SMG!

[jeff4598]

Even if you have tried the SMG in stop and go and around town and YOU think it's ok, many others do not share that perspective making car a hard sell IMO.

[rjd598]

You need to negotiate on the price so that you won't take a big hit when you resell. However you're buying a vert with smg and I'm guessing the color combo is like silver on silver or something like that basically not as desirable. The low mileage when you resell might allow you to get a fair price for it but other than that it'll be a total loss on your part

[Tvan]

That's a large price to pay for a seven year old car, given what you would pay for an e90/92 with reasonable mileage.

For reference, I found my car this past December. It is a 2003.5 Coupe with a manual and had 26k miles on it when purchased, literally in showroom condition. I paid just over 25k for the car.

[IHateSmartCars]

http://greensboro.craigslist.org/cto/3625887922.html

2003 E46 M3 Vert... MINT 31K looking at $25.5K

[Braap]

Originally Posted by das144

We found a 2006 e46 M3 with only 3k miles.
Convertible, SMG, long list of dealer installed Dinan options.
I think I can get the car for $38k.

My question for everyone is:

Will a low mileage e46 hold its value. I will likely drive and enjoy the car for 2 years. When I sell it will be 2015 and the car will likely have 24k miles on it. Still a VERY low mileage car. The car is in perfect condition now (I mean not even a wrinkle in the leather on the drivers seat) and I keep my cars immaculate so it will stay in this condition.

Is it insane to pay close to 40k for a 2006 M3 or do the miles and condition of this car justify it. Thinking it will depreciate but not so much with the very low mileage and the fact that there is a pretty strong following for the e46 //M cars.

I wish I was the guy selling this sucker to you bro...just sayin.

[Obioban]

It's priced appropriately to its mileage now. If you drive it to 24k miles, it's going to depreciate significantly.

Buy a car with at least 50,000 miles if you want to limit depreciation.

SMG and vert isn't going to do anything good for its resale value down the road.

[jcwilcox]

I just bought a 2002 Imola Red M3 convertible 6spd with 36,000 miles for $17,500 off CL from a local Phoenix owner. The car is in very nice condition but had not been given all its scheduled service (valve adjustment, etc.) so I've spent $1,700 on a full Inspection II and a few hundred more on new mats, strut brace and windscreen. I looked across the country and didn't see any manual convertibles close to this deal with this mileage. But I agree with most others here that an E9X makes much more sense if you're going to spend $40K. Good luck with your hunt.

[copescobra]

Be careful on the idea of selling it later for anything substantial.
I have noticed that the SMG trans does not command much money

[Endless619]

Originally Posted by das144

We found a 2006 e46 M3 with only 3k miles.
Convertible, SMG, long list of dealer installed Dinan options.
I think I can get the car for $38k.

My question for everyone is:

Will a low mileage e46 hold its value. I will likely drive and enjoy the car for 2 years. When I sell it will be 2015 and the car will likely have 24k miles on it. Still a VERY low mileage car. The car is in perfect condition now (I mean not even a wrinkle in the leather on the drivers seat) and I keep my cars immaculate so it will stay in this condition.

Is it insane to pay close to 40k for a 2006 M3 or do the miles and condition of this car justify it. Thinking it will depreciate but not so much with the very low mileage and the fact that there is a pretty strong following for the e46 //M cars.

Way to much for an E46. I would honestly tell him $28k cash and if he says no, walk. Just not worth it and being an SMG will be a slighly harder to sell car.

Hell, I sold my 02 E46 M3 for like $10-$12k like 2 years ago. It wasnt worth much. Had 90k miles though but had Brembos, KW V3s, Rims, etc..

[Small Yellow]

If it was manual and Coupe (not vert) then it is justifiable if someone buys it. Theres one with 4800k mi going for 48000 on bmwcca classified. I am not saying that bmwcca one is worth the money but you guys get the idea. Personally I have been looking for a clean one and am having a hard time finding a clean one.

[andre cavor]

I own a 06 silver smg every option excellent condition directly from BMW with 24500 miles on it and I paid $19,200 out the door cash so yes that's way to much 19' rims all the bells and whistles halo lights led tail lights dinan intake exhaust......