M3 advice on purchase price...

[bmw246]

'11 M3 convertible with 17,000 miles fully loaded... selling for 58k however 4 owners on carfax plus its a lemon...not really thinking its a good purchase but just was wondering what should it go for cause 58k is obviously too much money...

[Chriskm3]

4 owners in 3 years. Hummmm. Usually not a good sign.

[bmw246]

yah def but it is under warranty and id ditch it after thats over... just figured it be a fun 2 years haha but in all seriousness... 58 is way overpriced... anyone have a numb for what they think this is worth?

[Ashley Schaeffer BMW]

$45k seems about right. The dealership gave nowhere near $58k for it.

[blue1]

I just picked up a 2011 E93 fully loaded 30K miles for $56K and it was CPO from BMW.
I think $45K seems fair. I saw some repaired E93's on cars.com and they were going fro the low $45's.
They had been involved in an accident so they did not have a clean record.

[bmw246]

thanks for the help i figured 45 would b a good price for it

[Crimson92]

4 owners and a lemon on top of it.

Walk away.

[bmw246]

yeah i kno its so tempting tho - if i just owned it while under warranty n got for a really good price??

[Nate2046]

Originally Posted by bmw246

yah def but it is under warranty and id ditch it after thats over

I thought manufacturer buyback voided the warranty?

[bmw246]

nope, my friend owned a lemon 335 for a while still had factory warranty after bought used and as lemon... gettin an extended warranty now thts another story

[fuddman]

Originally Posted by bmw246

if i just owned it while under warranty n got for a really good price??

If you are actually going to get rid of the car after two years, Then you need to think about what you're going to get for it after you had your "under warranty" fling.

How much is someone going to be willing to pay you for a, now, 5 owner, lemon convertible, out of warranty? Not much, is my guess.
I'd offer 39K, which is, I think, closer to what the dealer paid for it and I'd be thinking about keeping it longer than two years.

[dagolfpro]

Warranty's great, just means every month you're at the dealership, you don't have to pay for repair and free donuts.

[m3buckeye]

Originally Posted by blue1

I just picked up a 2011 E93 fully loaded 30K miles for $56K and it was CPO from BMW.
I think $45K seems fair. I saw some repaired E93's on cars.com and they were going fro the low $45's.
They had been involved in an accident so they did not have a clean record.

$58k for a 4 owner lemon? haha!

OP price is way high with the 4 owners and the lemon, not sure if the 2011, 30k miles @ $56k is even comparable.

As an example, in July 2012 I picked up a '10 AW e93, DCT, 19", black novillo, 15.7k miles with factory warranty until 5/27/14 and then CPO until 5/27/16. Literally every option but headlight washers (i.e. no cold weather pkg., but still has heated seats and 4UT, go figure). MSRP $81.5k.

One woman bought it, owned it and drove it, and it was driven for two years with no wrecks. It was bought, serviced and sold from the same dealer in Dallas that I bought it from (Carfax backed this up) with the DCS provided in advance as well. Probably paid a little too much, but it was mint. $57,990.

I'd walk away and keep looking.