Salvage / Rebuilt e93 M3 Opinions

[MrMikeHenry]

I came across this e93 M3 its a 2011 with 25,000 miles it was listed for $27,000. I was able to negate down to $24,000 but am still a little apprehensive about the purchase. The fact that we was willing to knock $3,000 off the prices makes me wonder how much he actually got it for from the auction.

Details below…

Car was purchased from salvage auction on July 2015 by the same person who rebuilt it and is selling it to me. The seller owns a very nice shop building cars and says he restores cars all the time to sell.

According to the auction report the insurance company claimed $19,000 in repair cost. Pics attached. Going off what I see the damage doesn't seem that extensive, seller said it was actually $4000 in damages, again he owns his own shop and wouldn't have to pay labor. He said only items that needed to be replaced where the bumper, hood, and headlight no mechanical components were replaced.

I took the car for a test drive no warning lights, no noises, car drove straight aligning wasn't 100% but by no means was it severally off.

Im wondering if I'm missing something here? car looks and feels brand new, i see he's posted in on several sights and tried to auction on ebay a month ago with no success, maybe buyers are scared or maybe its a bigger issue.

Of course I would have a pre purchase inspection done if I precede

Ive done my due diligence and found out this guy has almost 100% rating on Ebay, selling both parts and cars. Business is also legit building cobras and other custom cars.

[araaadi]

Going to be hard to resell in the future, but m3 for honda civic pricing. I would do it without question.

[M3Bimmer77]

As long as the body brackets are ok. Keep in mind that it's a salvage and a car that has been wrecked. Meaning that the gaps between panels and so on will not be perfect no matter what. That's why it's a salvage and insurance company don't want to deal with these cars. If you are ok with this then go ahead. You can own a very nice car for a fraction but it will always have that sin.

[NashvegasR]

Price is too high. Should get more of a discount.

[E90Fan111]

I guess it depends what your plans are for the car. If you're keeping it long term for fun and to beat around and don't care about losing money if/when you come to resell, I'd be all over it. If you're looking to have it for a few years then resell it, know that you're going to have a hard time and will likely lose a good chunk of change on it. If no one has bought it yet it goes to show you people are nervous about the car.

Personally, i'd be holding onto it for the long term, I love the V8. Take it to a BMW service center, drop the money, and do a full inspection. If they give the greenlight, I'd jump on it. When you think about it you'd be getting it for half of what a non-salvage would cost.

[nickl630]

It'll probably drive and look fine, if you are looking for a cheap M3 than look no further. The resale value is what's gone on a salvage car and you will have a hell of a time selling it.

At auction it'd probably bring 20k

[MrMikeHenry]

Originally Posted by E90Fan111

I guess it depends what your plans are for the car. If you're keeping it long term for fun and to beat around and don't care about losing money if/when you come to resell, I'd be all over it. If you're looking to have it for a few years then resell it, know that you're going to have a hard time and will likely lose a good chunk of change on it. If no one has bought it yet it goes to show you people are nervous about the car.

Personally, i'd be holding onto it for the long term, I love the V8. Take it to a BMW service center, drop the money, and do a full inspection. If they give the greenlight, I'd jump on it. When you think about it you'd be getting it for half of what a non-salvage would cost.

thats want I was thinking KBB on this vehicle clean is $41,000. But BMW charges $400 for a PPI. I was going to go to a body shop so they can look for frame / alignment damage. I plan on keeping the car for a long time, this will be a show car at some point.

[spiderspider]

nice shop

[M3Fan1985]

I would say no. The drivers fender already doesnt appear to line up well.

[spiderspider]

engine bay could be cleaner too

[E90Fan111]

Originally Posted by MrMikeHenry

thats want I was thinking KBB on this vehicle clean is $41,000. But BMW charges $400 for a PPI. I was going to go to a body shop so they can look for frame / alignment damage. I plan on keeping the car for a long time, this will be a show car at some point.

If you found a shop you're happy with and trust go for that one. I ponied up for BMW as I,figured I'd rather spend a few hundred for piece of mind than dropping 40k on a money pit. I also didn't know any local shops at the time.

[ASBSECU E93]

Mr Tonka - you know of this shop?

[nickl630]

Originally Posted by MrMikeHenry

thats want I was thinking KBB on this vehicle clean is $41,000. But BMW charges $400 for a PPI. I was going to go to a body shop so they can look for frame / alignment damage. I plan on keeping the car for a long time, this will be a show car at some point.

It most likely has frame damage. you can see the apron is bent on one of the damage pics on the drivers side. The fender also doesn't line up properly in the finished pic. The core support also took a good hit but that is replaceable.

[Mr Tonka]

Originally Posted by ASBSECU E93

Mr Tonka - you know of this shop?

Am i missing the name of the shop? I don't know it by that photo, no.

[MrMikeHenry]

Originally Posted by ASBSECU E93

Mr Tonka - you know of this shop?

Shop is backdraft racing if any one is familiar please chime in.

[Mr Tonka]

Originally Posted by MrMikeHenry

Shop is backdraft racing if any one is familiar please chime in.

That's what i thought, but they are on the east coast, no? Auction pic says Tampa South.?.?

They make some bad ass Cobra reps. Heard nothing but good things about them.

[Honda]

I have considered buying a salvaged m3 before purchasing one. All of the ones I have drive tested drove different (in a bad way) from the non salvaged ones so I have decided to get a one that is not wrecked.

At the end you get what you pay for.

[Get lit]

Last pic of car with hood open.... looks like some parts are missing?!?!

[yamaha458]

general rule of thumb on salvaged cars is that it cuts the worth in half. They are a lot harder to sell in the long run but if you're mechanically inclined and plan on keeping the car for a while they can be worth the time.

[ASBSECU E93]

OP - my .02....

Have PPI done. If all is 'normal' - low ball them a offer.

If they accept - buy a blower kit and drive the shit out of this car and enjoy the days when the top is down and that S65 is screaming...

I love that color combo too...

[Three Pedal Steve]

IMO it will take some effort to get this one sorted out and then it will be worth only 60% of possible value. So it makes sense if you are going to keep it for at least seven years and you are a hands-on owner. Be bold with a low offer- very low! <20. Think Honda Civic money. Figure that the engine and drive train have significant value; if all else fails sell the parts.

[SV_M3]

Still too much to pay at $24K. If frame not damaged and driveline all other mechanicals including the top work smooth and tight, I would offer no more that $20K. You'd have to keep it as resell would be a big loss.