Thoughts on '08 E92's?

[prolific]

Basically: I have the option to buy an '08 E92 M3 (DCT, loaded with Tech/Premium/Cold Weather) with only ~8500 miles or so on the odometer.

I'm sure this has been discussed ad nauseam so I do apologize for that (feel free to link any similar threads that come to mind or may be useful) but I'm just curious what everyone's thought was on this potential purchase? I suppose the more I think about it, I'm just wondering what value I'm getting out of a 2008 vehicle (M3 specifically, but this can go for anything with a similar build - Audi, Benz, etc). In the back of my head, no matter how great this thing looks (how great the engineering may be; see above Audi, Benz, etc), sitting on only 8500 miles, I keep thinking how this car is already 5 years old.

Price currently stands at $47.9, haven't started any type of negotiations or anything yet so pricing aside, what do you guys think about purchasing something from '08? Am I walking into a problem? Do I save the money and go for something slightly newer (2009-11ish?)

Looking forward to some discussion, thanks in advance!

[dmk08]

Originally Posted by prolific

Basically: I have the option to buy an '08 E92 M3 (DCT, loaded with Tech/Premium/Cold Weather) with only ~8500 miles or so on the odometer.

I'm sure this has been discussed ad nauseam so I do apologize for that (feel free to link any similar threads that come to mind or may be useful) but I'm just curious what everyone's thought was on this potential purchase? I suppose the more I think about it, I'm just wondering what value I'm getting out of a 2008 vehicle (M3 specifically, but this can go for anything with a similar build - Audi, Benz, etc). In the back of my head, no matter how great this thing looks (how great the engineering may be; see above Audi, Benz, etc), sitting on only 8500 miles, I keep thinking how this car is already 5 years old.

Price currently stands at $47.9, haven't started any type of negotiations or anything yet so pricing aside, what do you guys think about purchasing something from '08? Am I walking into a problem? Do I save the money and go for something slightly newer (2009-11ish?)

Looking forward to some discussion, thanks in advance!

If you're into the technology you probably want to look at an 09+ for the upgraded iDrive and such. If you're like me and just care about how the car performs I see no problem with an 08. Well except that price is like 8k too high at least.

[Redline Bandit]

Go for it! There have not been many significant changes (besides Nav) since the cars introduction in 08. FYI, I just bought an 08 E92 loaded 6-speed with 8,000 miles on it for $45K in October, so I would say you have some room to work with on the price.

[chris s]

I wouldn't pay $47.9 for an 08 personally.... Fact is 8500 miles or 25k miles doesn't make much of a difference with these cars. If you're willing to spend that money, find an 09 or 10 with a bit more mileage. With an 09 you get the updated nav and Idrive...

[prolific]

Really appreciate the (quick) replies guys, for real.

I stated the price and as I said, that was without a word with the dealer yet as far as negotiations go; not too worried about getting it for cheaper ($44-45k is what I was thinking as well).

I'm sure there are several dozen other threads out there with the "'08 vs '09+ updated iDrive/Nav" but if someone can briefly sum up what I'd be "missing" with an '08 (versus newer models), it'd be much appreciated. The whole tech package definitely isn't a make or break for me (this model does have the nav and such as I mentioned - as long as the thing works, that's good enough for me).

[AshyLarryMP]

I got a 2011 competition package 6 months ago, $75.3k sticker price. I paid a lot I think at $58.5k, but it came with a $2000 radar jammer and tinted windows, and only 14.5k miles. I really think you should get a car with some time left on the warranty.

So far I've had a lot of problems with the car, but they mostly got fixed for free.
Rear differential clutches binding, replaced.
Back up mirror motor, replaced.
2 oil changes in 5000 miles. I didn't need the second one but thanks.
Seat belt extender arm, replaced.
Passenger side window lining, replaced.
Driver side CF roof tape came undone, replaced.
Oil cooler protector under the front of the car and oil cooler inlet ducts, $500 out of pocket.
Software upgrade, out of pocket $150.

This is a big decision so buy the car you want and not because it is a good deal. And check under the front of these cars for damage. At the very least there will be some scratches in the paint and you can use that to talk the seller down a few bux.

[dmk08]

Originally Posted by chris s

I wouldn't pay $47.9 for an 08 personally.... Fact is 8500 miles or 25k miles doesn't make much of a difference with these cars. If you're willing to spend that money, find an 09 or 10 with a bit more mileage. With an 09 you get the updated nav and Idrive...

From DVD based to hard drive based. HD screen. Updated knob w/ more buttons. Other than that not much. To some it seems like a huge deal but like I said earlier I bought the car for the performance aspects and have never even used my nav.

And it sucks that Ashy had problems but besides a rear wheel barring I have had 0 issues with my car.

[cposk]

I bought a 08' E90 last May with 50k miles on it and have driven it 10k more with an issue. I didn't mind the dated iDrive. You should go check out a newer one to make sure it is something you can live without, especially since its 47k...

[Gfunk720]

My lower mileage 2008 E92 has been great.

When you look at what has changed on the car over the last 5 years, they are really pretty minor things. If the car is mechanically sound, and looks clean, I say go for it. While there may be a little wiggle room on the price, some of it in my experience depends on the color combination.

If you are questioning your decision, go drive the Audi and the Benz that would be comperable in price.

[gatorfast]

What is the history of the car that it has such low mileage? Not really sure how 4+ years of inactivity can negatively affect the vehicle (if it does at all).

[skins333]

08 m3's are great..that isn't the issue. Although my 08 m3 has the older idrive/nav I have an 12 x5 with the newer setup and I really don't waste any time when driving my m3 worrying about not having the latest nav, it is still extremely functional.

That being said, personally no way would I pay mid 40's for an 08..I would rather get a newer model with more miles but with some warranty left, newer idrive, and probably even new enough to have the newer lci taillights.

To clarify, I don't think any problem getting an 08 at all, I would just shoot for upper 30's and right around $40k but not worry about getting such a low mileage one. ~20-40k miles would be a much better buy in my opinion, esp in terms of resale and new model coming soon, etc. Really I think 08 m3's are one of the absolute best bargain performance cars right now.

[prolific]

Thanks for the updates and replies!

I know dealerships offer comparable warranties for older models who's original warranty has expired - what's the word on those? Not worth it? Overpriced? I haven't talked details price-wise as far as that goes with the BMW Dealership goes but they do offer something along those lines.

Obviously that price will drop, or else Ill simply move on from it - $47k is a bit steep to say the least. I guess my biggest concern is the fact that the vehicle itself is "already 5 years old" but with such low mileage, and what we can assume is some remarkable engineering, how much of a concern is that really? Sounds like some owners have experienced no issues while others have nothing but bad luck with their older models. Is it all luck?

[Vic311]

No..wouldnt do it...too old.

Plus Im not buying 8500 miles..odometer roll back???

[robbiedawg]

i bought an 08 and am happy i did.i specifically didn't want nav/idrive,so that wasn't a factor.mine did have 6 months of warranty when i got it,and that turned out to be a great thing,because pursuing a shifting difficulty led to getting a new transmission under warranty.

[Schom]

i just picked up an 08, and paid 38k for it. has all options with CF roof and 6mt which is what i wanted.

two things:

1) amazed at how much used m3's seem to retain their value on the selling side--trade i'm sure you get hosed.

2) the markets for these are quite different dependign on location. i'm in MN...m3's are very uncommon here. nearest used one for a while now is chicago. these cars are much cheaper and more abundant in warmer climates.

i overpaid for mine and had to jump on it immediately. but, don't really care about the $ side of it. the car is way too much fun...once you drive it...you forget all about it and just enjoy.

[prolific]

Originally Posted by Vic311

No..wouldnt do it...too old.

Plus Im not buying 8500 miles..odometer roll back???

This is from a BMW dealership tho, I'd put a bit more trust in them than just some used car dealership, no?

I'm keeping my eyes peeled for a '10, maybe a '09, but the search is proving pretty difficult. In addition, with the '08, I figured I'd have a bit more room to negotiate and get a pretty great car (performance car) for a pretty reasonable price, as others have pointed out.

[AshyLarryMP]

The thing that scares me about used M3's is that you could be buying a car that has been tracked, or modded and then changed back to stock. There is less chance of this if you buy a car that is only a year or 2 old. It's a gamble going cheap with these cars because they are so expensive to fix.

If you get a 2011 zcp you get the cool rims, 4/10 inch lower ride height, adjustable edc, 2 years on the warranty. It might be overpriced, but I am really glad I got this car and would do it again in a heartbeat.

[prolific]

Originally Posted by AshyLarryMP

The thing that scares me about used M3's is that you could be buying a car that has been tracked, or modded and then changed back to stock. There is less chance of this if you buy a car that is only a year or 2 old. It's a gamble going cheap with these cars because they are so expensive to fix.

If you get a 2011 zcp you get the cool rims, 4/10 inch lower ride height, adjustable edc, 2 years on the warranty. It might be overpriced, but I am really glad I got this car and would do it again in a heartbeat.

I completely agree. Guess a better scenario, or perhaps best case, would be to find a 2010 (under warranty?) and roll with that.

I'd love to have a 2011, dont get me wrong, but the difference (price-wise) between an '08-'10 vs an '11 is a good bit, to say the least. With that being said, it may be worth the extra cash in the long run.

[richardg]

Just over 70k in my 08M. Have had no major issues and it drives wonderfully. I will probably ride it until it blows up or until I can afford a v10 R8 lol

[rennis]

Originally Posted by Schom

i just picked up an 08, and paid 38k for it. has all options with CF roof and 6mt which is what i wanted.

2) the markets for these are quite different dependign on location. i'm in MN...m3's are very uncommon here. nearest used one for a while now is chicago. these cars are much cheaper and more abundant in warmer climates.

i overpaid for mine and had to jump on it immediately. but, don't really care about the $ side of it. the car is way too much fun...once you drive it...you forget all about it and just enjoy.

based on what I have seen I don't think you overpaid. helped my girl buy an 08 M3 with over 40k miles in December. She paid high 30s and I think she got a great deal. Bought it in FL, had it shipped to WA.

You can't find an E92 M3 in the PNW for a good price. A 2008 with 8k miles would sell for mid to high $40s here, no problem. Geography plays a huge role, as you mentioned.

[dmk08]

Originally Posted by prolific

I completely agree. Guess a better scenario, or perhaps best case, would be to find a 2010 (under warranty?) and roll with that.

I'd love to have a 2011, dont get me wrong, but the difference (price-wise) between an '08-'10 vs an '11 is a good bit, to say the least. With that being said, it may be worth the extra cash in the long run.

08 + BMW extended warranty is still wayyyy cheaper than a 2011.

If you don't care about the NAV or the tail lights I don't see any reason for the 2011. But that's just me. I do find it funny that 5 year old cars are 'old as dirt' but not even the average age of cars on the road.

[signes]

Originally Posted by AshyLarryMP

The thing that scares me about used M3's is that you could be buying a car that has been tracked, or modded and then changed back to stock. There is less chance of this if you buy a car that is only a year or 2 old. It's a gamble going cheap with these cars because they are so expensive to fix.

If you get a 2011 zcp you get the cool rims, 4/10 inch lower ride height, adjustable edc, 2 years on the warranty. It might be overpriced, but I am really glad I got this car and would do it again in a heartbeat.

This makes no sense, any used car can have a history of abuse (or good care for that matter), whether it is two years old or five. And I'd rather buy a car that is five years old that was tracked occasionally by somebody who who performed the right maintenance than a newer car owned by somebody who didn't give a shit. Each car needs to be look at individually.

OP, have a look at the service history/owners, do a PPI and get a decent price (I would think something sub-$40k would be a good price.)