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      03-02-2010, 03:48 PM   #1
Day Laborer
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Did I pay too much for my M3?

Not that I am having buyer's remorse; but I have been starting to see great deals on M3 coupes from forum members posting them for sale.

I paid 53,000 plus tax title and registrations on a:
2008 AW M3 coupe
with 7500 miles
EDC
6-Speed
Beige-bamboo interior- non-extended leather
no carbon fiber roof
No Navigation or M-drive
Paint and condition is flawless
18' wheels
Integrated radar detector installed

From a non-bmw dealership (used car dealership)

I've seen great deals with M3 coupe's in the similar price range, that have full options.. yet financing was easier through the dealership.

The car runs great and I have no regrets, but I have not yet seen any AW with beige combination anywhere near my area.

Did I pay a fair price?

Thanks in advanced
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      03-02-2010, 03:52 PM   #2
xchosun1x
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i think there are two things to consider....

1. is you have an m3 with very low miles and seemingly in very pristine shape

2. considering the lack of options/packages, I do think that you overpaid, but not by too much.

all in all, if your happy...then its all good =)
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      03-02-2010, 03:57 PM   #3
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2000 off msrp (-) 8000 for depreciation and 50,000 sounds about right
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      03-02-2010, 04:08 PM   #4
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Quote:
Originally Posted by ssemerod View Post
2000 off msrp (-) 8000 for depreciation and 50,000 sounds about right
I'd have to agree... from what I've heard and seen 50.000 is around where I'd 'value' the car.

Nice pics btw.
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      03-02-2010, 04:12 PM   #5
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Quote:
Originally Posted by Day Laborer View Post

I paid $53,000 plus tax title and registrations on a:
2008 AW M3 coupe
with 7500 miles
EDC
6-Speed
Beige-bamboo interior- non-extended leather
no carbon fiber roof
No Navigation or M-drive
Paint and condition is flawless
18' wheels
Integrated radar detector installed

From a non-bmw dealership (used car dealership)

I've seen great deals with M3 coupe's in the similar price range, that have full options......
Did I pay a fair price?

Thanks in advanced
I will tell you what everyone else is not willing to tell you. YES, you paid too much. You lost at least $10k as soon as you drove off the lot. The car is nice, but I don't understand where they get off asking that much over dealer retail?

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      03-02-2010, 04:14 PM   #6
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You can get fully loaded 2008 e92 M3's for under $50k. I had mine up for sale about a month ago and I was only able to get buyers at $47k. I have pretty much every option except 19" wheels and DCT (mine is a 6-speed) and it's a one owner very well taken of car with 17k miles. Decided to keep it another 1.5-2 yrs and then get into something else. I think you did pay a bit much for yours; probably $5-6k too much. But as long as you're happy then that is what counts! I bought mine when it first came out and got $1500 off msrp. About 3-4 months later people were getting $6-8k off mrsp.
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      03-02-2010, 04:22 PM   #7
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Enjoy your car, but yes, you paid too much.
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      03-02-2010, 05:17 PM   #8
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That's what I figured. But atleast I got the combination that I wanted. In a way, I believe it was easier to secure financing through a dealer. Overall, I wish I waited a little longer to buy it in cash from a private seller.
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      03-02-2010, 05:18 PM   #9
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yea ya did, but its done with now. enjoy the car
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      03-02-2010, 05:24 PM   #10
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Glad you're part of the family. And let me put it this way: if you had offered me $53K for my 3K-mile M3 with every single option on the book (manual, of course ), plus some very desirable cosmetic extras, I'd have taken it. So seems like you paid too much indeed, but we all have done that at one time, so just learn from your experience . And what I'm talking mostly about is PATIENCE .

But look at the bright side: you made that dealer (and the salesman) VERY HAPPY with your sale . Take care.

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      03-02-2010, 06:05 PM   #11
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In the future, if you are considering financing, get pre-approved for a car loan for the amount you need before you go out car shopping. Then you can concentrate on getting the car that you want, for the price that you want, without letting them use financing as leverage against your negotiations.

Won't beat a dead horse on your purchase price, enjoy the hell out of your new M3 now!

Drive in good health,
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      03-02-2010, 07:21 PM   #12
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Quote:
Originally Posted by ploo View Post
In the future, if you are considering financing, get pre-approved for a car loan for the amount you need before you go out car shopping. Then you can concentrate on getting the car that you want, for the price that you want, without letting them use financing as leverage against your negotiations.
This is true, plus the dealer usually always charges a higher interest rate than what you could get on your own. The finance office is just another profit center for the dealer. They can make more money there by financing, extended warranties, paint protection, wheel and tire insurance, than they do selling the car.
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      03-02-2010, 08:00 PM   #13
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As you said, you did not see another car with bamboo interior. $2K in the grand scheme of things is not a big deal.
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      03-02-2010, 08:05 PM   #14
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In all honesty, patience wasn't my strongest suit during the purchase. During that month, 53k for an M3 was the lowest within a 100 mile radius of my area. Especially for the DC area, 53k is still hard to find.
Currently, 53k can only get you a sedan, or a coupe with twice the mileage.
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      03-02-2010, 08:08 PM   #15
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Think about it this way, regardless of age etc etc, if it performs and looks new, consider it new. Its a M3 and its the car you want. Hell I would be happy to have an M3 regardless of price. There are those in other countries with M3 for like four times the price of ours. Enjoy
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      03-02-2010, 08:40 PM   #16
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Edmunds and Kelly Blue Book differences for CPO M3 was like $8k difference !
From comparing the KBB price with what is available in the area, it really does seem like KBB is more accurate.
Which database reflects the most accurately for your area? (compare it to current cars for sale)

KBB:
CPO PRICE
Excellent
$57,985

Looks new, is in excellent mechanical condition and needs no reconditioning.
Never had any paint or body work and is free of rust.
Clean title history and will pass a smog and safety inspection.
Engine compartment is clean, with no fluid leaks and is free of any wear or visible defects.
Complete and verifiable service records.
Less than 5% of all used vehicles fall into this category.
* Virginia 3/2/2010

EDMUNDS:
Certified Used Vehicle $49,767
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      03-02-2010, 08:41 PM   #17
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Value

As long as you don't sell it (for a long while) and can afford it, don't worry about it. Those are the only two times that it makes that much of a difference in the grand scheme of things. I know for me, I hate paying dealers for not doing a whole heck of a lot but they're in business to make money.

I bought a 335 in excellent condition for what I thought was a very good deal. Now I will have to take a sizable loss - based on what I have it advertiesed for - but if it floats your boat (enough), its not worth worrying about.
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      03-02-2010, 08:45 PM   #18
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don't sweat it...using the conventional wisdom in this thread...everyone that has ever purchased a NEW vehicle overpayed...enjoy your car
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      03-02-2010, 08:53 PM   #19
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If you feel comfortable with the price you paid, and got what you want then you didn't over pay. That's how I look at things. You can go on for ever looking for a better deal, and then there will still be an even better one out there.
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      03-02-2010, 09:38 PM   #20
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Just enjoy your car. There really is no point in thinking about it now unless you have someway of renegging on the deal. There will always be better deals out there - personally, I'd rather not know after the fact.
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      03-02-2010, 10:17 PM   #21
Day Laborer
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Lol, I guess you are right about the bargain I got compared to those who bought it new.
I'm loving every minute of driving this car... No regrets!
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      03-02-2010, 10:33 PM   #22
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No. I paid $62k in 9/2008, so get deez nuts
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