I was sold a crashed car (advice needed)

[InterJon]

I have browsed these forums for quite a while and have even made a few postings. Finally, now comes a time when I need some advice, and, knowing this forum, of that there is plenty to spare.

I recently traded in my 08 E92 (M3) for another E92 of the same year. I wanted different options, including 6MT, my previous was DCT. I received a fair trade-in price and received what I thought, at the time, to be a fair price on the purchase. Prior to delivery it was represented by the dealership that the car had never been involved in an accident.

Upon delivery, I noticed that the trunk lines of the car were a little off. I looked closer and could tell that the trunk-lid had been repainted. I contacted the dealership (BMW dealership) about the problem and the SA seemed confused.

The SA then says he is calling the prior owner. SA calls me back and states that the trunk-lid had a scratch and was repainted by the owner at the owner’s expense. I assumed this was the reason the Carfax report was clean.

I told the SA that I would accept the car subject to having the trunk investigated. I conditioned the purchase upon my unconditional acceptance of the trunk condition, following an investigation and repair, if necessary. Full disclosure, I am an attorney. Had I not done this, I would be up the proverbial creek.

Fast forward two weeks to today. I dropped the car off at my local BMW dealership collision center. Get a call a short while ago telling me that the car has been in a significant rear end accident, perhaps involving the right rear of the car as well. The full extent of the damage is not know as the entire back end has to be disassembled. From what it looks like now, I need a new rear facade, some frame work, etc. They are estimating a couple of thousand dollars in repair. Prior to dropping it off, some of the rear panel lines looked a little off, but I have seen worse coming from the factory. I assumed the trunk lines were off because of poor fitment by whoever repainted the trunk.

My question to you all. Assuming I decide to keep the car and not request the dealership unwind the deal, which I might, what is the amount of deprecation in vehicle’s value because of this accident? If I keep the car, should I demand the dealership pay me that depreciation value in cash? Any other thoughts or ideas? I am well aware of the law, but, damages are always subject to interpretation.

One final thing: let me be clear, I am not in this for a “cash-grab”. I purchased this car because it was the exact one I wanted and intended to keep it. I would eventually buy another M or P car but wanted to keep an E92 as a collector’s piece.

Thanks in advance.

UPDATE: Photos on bottom of the page 2

[Avly]

One attorney to another, you are smart enough not to keep the car.

[Estoril Blue]

God luck on getting depreciated value. Its much, much harder to get than most people realize.

Who did your PPI? They REALLY screwed up. After all - that is why we GET PPIs.

[Blk07335i]

Do not keep the car...there are plenty of clean M3s out there with the options you're looking for. Keep looking.

[InterJon]

Quick update (collision center just called):

The car has been repainted from the front quarter panels all the way to the rear. Only thing that has not been repainted is the front end, hood and CF roof. The local collision center advisor says it would be $15,000 to put everything back together the correct way.

Not a good afternoon.

[kchu221]

eff that, return it and just wait for the next car to pop up!

[M3SQRD]

^this - return this car and find another one with all of the options you want.

[e92involved]

The car is branded for life - no collectors value here. On the other hand, at least there is no carfax and it could be fixed with a clean carfax.

[MDyDinanM]

did you not get a Pre-purchase inspection (PPI) before buying the car from an reputable independent shop or separate dealer?

surely this has come up time and time again with buying advice on this forum. That and CarFax is a tool, but sometimes isn't the most reliable tool, hence the need for a PPI.

If not, lesson learned!

[Prince_of_Persia]

I would not keep this car. Just out of curiousity, is this a CPO car? Dealerships have to inspect the cars before the can CPO them.

[signes]

I think you have answered your own question.

[persian54]

Originally Posted by mdyaman

did you not get a Pre-purchase inspection (PPI) before buying the car from an reputable independent shop or separate dealer?

surely this has come up time and time again with buying advice on this forum. That and CarFax is a tool, but sometimes isn't the most reliable tool, hence the need for a PPI.

If not, lesson learned!

I was under the impression buying from dealers meant we don't need to go through that hassle :/

Maybe call up BMW NA as well?

[bmwe92fan]

You know what you have to do but I know your pain - you find the perfect car and now have to start over...

[MDyDinanM]

Originally Posted by persian54

I was under the impression buying from dealers meant we don't need to go through that hassle :/

Maybe call up BMW NA as well?

Haha no, no way.

A BMW dealer is still a dealer. There is no special magic that occurs because it's a BMW dealer.

There have been cases where CPO cars have had a history. Case in point is BMW M School/Performance center cars being passed off without full disclosure. Customer found out the hard way.

[Bluesummer]

1. Do not keep the car because it's not going to become another E30 M3 in terms of collector's value

2. Do not keep the car because it has been in a severe accident

3. Do not keep the car because YOU CAN find another one that is much better.

The dealership is not going to pay you any depreciation money in any form because this accident is not documented. If this were a CPO car, then you might have just caught yourself a big bonus check because that is a fraud.

[paradocs98]

Originally Posted by persian54

I was under the impression buying from dealers meant we don't need to go through that hassle :/

Maybe call up BMW NA as well?

You would hope so, but read this thread from a couple of months ago about a forum member who was sold a "trade assist" car by a dealer without the dealer revealing to him that it was a "trade assist" car--this designation ends up reducing the value of the car because it cannot be CPO'd in the future:

http://www.m3post.com/forums/showthread.php?t=638324

But it's the fear of undisclosed prior collision damage that would keep me from ever buying a car like an M3 second-hand from some of these fly-by-night "luxury motorcar" operations that come and go around the NYC suburbs. It's bizarre--there will be an empty storefront on Northern Blvd here on Long Island, and the next day it's a luxury used car dealership with a full inventory of BMWs, Merecedes AMGs, Porsches, and even the occasional lower-end Ferrari. Then two months later it's an empty storefront again...

[persian54]

Originally Posted by mdyaman

Haha no, no way.

A BMW dealer is still a dealer. There is no special magic that occurs because it's a BMW dealer.

There have been cases where CPO cars have had a history. Case in point is BMW M School/Performance center cars being passed off without full disclosure. Customer found out the hard way.

damn.. shadiness...

[crabman]

Good thing you're an attorney and have set yourself up for an easy out. Now all you need to do is be glad of your good decision in putting yourself in a place where you can take it and do so.

[Darth One]

Yeah, I would just unwind the deal. Are they still in possession of your old car? They should just give it back to you with a full detail and apology. And just eat whatever "depreciation" from you using their car for 2 weeks

[OC3]

An E92 that has "been in a significant rear end accident" is not much of a "collector's piece"...

[I am Jeff]

Why is this even a question? You have established a way out prior to realizing you just got screwed. The only question I have for you is...."WHY HAVEN'T YOU BROUGHT THE CAR BACK YET?"

[j2m]

Ruuuuuuuuuuun for the hills dude and post the VIN and dealership so nobody else gets suckered!
What a PIA!