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      01-06-2018, 06:11 PM   #1
Freiheit
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Why is an E92 with <5000 miles sitting at a dealer for 6 months?

I found this back in July when I was shopping:

http://www.napsales.com/used/BMW/201...22ea3b5f96.htm

Aside from it having the smoker's package and a sunroof - which would only matter to enthusiasts - why is an otherwise capable M3 rotting at a dealer when cars with 4x the miles go in a few days?
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      01-06-2018, 06:14 PM   #2
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I tend to think black is just not that popular a color on the M3. If this was AW or MW it would be gone in days.
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      01-06-2018, 06:35 PM   #3
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Plus at that price you bring in lots of other potential cars...
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      01-06-2018, 07:10 PM   #4
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Quote:
Originally Posted by FrozenAg View Post
Plus at that price you bring in lots of other potential cars...
+1
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      01-06-2018, 09:03 PM   #5
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Quote:
Originally Posted by baseCPM3 View Post
I tend to think black is just not that popular a color on the M3. If this was AW or MW it would be gone in days.

That may be true, but the mileage is the lowest I've seen on any car since I first shopped. I turned down an SGM Comp 6 months ago, and it was $2k more with 20k more miles. With that low of mileage, I would think that someone shopping for an E92 M3 would jump on it.

just a side note: People seem to have started driving these cars again, because while I had no trouble finding cars with 5k-15k miles just 7 months ago, now the typical car comes in above 30k. I've also noticed that unlike the E36 and E46 market, where spring/summer prices rise and stay high and winter prices are the bargain, the E92 has followed the opposite pattern. This summer I watched an AW/Beige Comp sit at a local dealer for almost three months with nearly a $3k price drop before it went, and it was around 17k miles. I found several 5-6k mile Lime Rock cars for under $55k, and one sat for almost two months. That one had the MPerformance exhaust on it too. Now all the LR cars are gone except for a fat supply of them at EAG, and their prices are 10-20k higher.

Its an odd market for these cars, it is.
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      01-07-2018, 10:54 AM   #6
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Quote:
Originally Posted by Freiheit View Post
That may be true, but the mileage is the lowest I've seen on any car since I first shopped. I turned down an SGM Comp 6 months ago, and it was $2k more with 20k more miles. With that low of mileage, I would think that someone shopping for an E92 M3 would jump on it.

just a side note: People seem to have started driving these cars again, because while I had no trouble finding cars with 5k-15k miles just 7 months ago, now the typical car comes in above 30k. I've also noticed that unlike the E36 and E46 market, where spring/summer prices rise and stay high and winter prices are the bargain, the E92 has followed the opposite pattern. This summer I watched an AW/Beige Comp sit at a local dealer for almost three months with nearly a $3k price drop before it went, and it was around 17k miles. I found several 5-6k mile Lime Rock cars for under $55k, and one sat for almost two months. That one had the MPerformance exhaust on it too. Now all the LR cars are gone except for a fat supply of them at EAG, and their prices are 10-20k higher.

Its an odd market for these cars, it is.
ALL Lime Rock's have M Performance Exhaust!
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      01-07-2018, 04:25 PM   #7
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Originally Posted by UPSROD View Post
ALL Lime Rock's have M Performance Exhaust!
Lesson received.
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      01-09-2018, 10:24 AM   #8
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Quote:
Originally Posted by Freiheit View Post
I found this back in July when I was shopping:

http://www.napsales.com/used/BMW/201...22ea3b5f96.htm

Aside from it having the smoker's package and a sunroof - which would only matter to enthusiasts - why is an otherwise capable M3 rotting at a dealer when cars with 4x the miles go in a few days?
looks like a carbon roof on that one = no sunroof. also, i think smoker's package was standard for USDM cars. no idea why it hasn't sold...maybe there's a problem with the car that you can't see from the pix.
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      01-09-2018, 10:43 PM   #9
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Could there be a chance it was in an accident and has a rebuilt status?
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      01-10-2018, 11:43 AM   #10
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Lets say this was in Canada, $45k CAD would be a steal but in America when these cars were discounted heavily compared to BMW Canada, this deal is only decent. I would rather look into getting a bit higher mileage E92 with a true carbon roof! Sunroof E92 is no good. Sunroof E90 is good.
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      01-18-2018, 12:33 PM   #11
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I would guess people are buying the 20-30k mile M3s for $5-10k less.
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      01-24-2018, 01:59 PM   #12
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      01-24-2018, 07:22 PM   #13
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DCT
Yea no one wants to drive a DCT. I certainly wouldn't?
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      02-01-2018, 12:57 AM   #14
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Pretty good price
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      02-01-2018, 08:09 AM   #15
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It’s 54,000 CAD...

Rather get a 09 S3R and pocket the 20,000 difference...
oh wait, I did....
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      02-06-2018, 12:45 PM   #16
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I got it this past weekend. It's basically mint condition and I'm the 2nd owner. Clean CarFax. Even better: I got mid-twenties for my 2010 M3 in trade

My only gripes:
No manuals
One key
Tiny paint scratch on drivers side door

Drove it back to CO from SLC (500 miles) and it needs a serious clean!
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      02-06-2018, 08:25 PM   #17
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Quote:
Originally Posted by ppmax View Post
I got it this past weekend. It's basically mint condition and I'm the 2nd owner. Clean CarFax. Even better: I got mid-twenties for my 2010 M3 in trade

My only gripes:
No manuals
One key
Tiny paint scratch on drivers side door

Drove it back to CO from SLC (500 miles) and it needs a serious clean!

Congratulations! Did you check the thing out thoroughly before you bought it? We're all interested in why a desirable car like that would be sitting at a dealer for 8 months already. There has to be a story.
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      02-06-2018, 10:34 PM   #18
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Originally Posted by Freiheit View Post
Congratulations! Did you check the thing out thoroughly before you bought it? We're all interested in why a desirable car like that would be sitting at a dealer for 8 months already. There has to be a story.
I was definitely curious too! I don't know if this qualifies as "a story" tho...it's definitely a yarn.

I had been searching for a newer M3 with the Cold Weather package since my 2010 was originally a Texas car and I'm a total cold-weather wimp.

I first found the car last Thursday and called the seller (a private dealer) on Friday morning. We spoke at length about the car and it's "official" history (he had faxed me the CarFax at that point--it was originally bought in CA but then ended up in Las Vegas) and I learned that he had just acquired it the day before from another dealer in what he called a "hell swap" or something like that. He explained that now and then dealers will trade cars that have been sitting for a while; he had let go of an M4 for this M3. It was obvious that he has been selling cars for a long time...but he seemed very honest and accommodating.

I asked him why a car like this had been sitting for so long; he said rear-wheel drive sport cars just don't sell well in mountain regions (he is in SLC Utah), and that certainly jives with my experience here in Boulder CO. (xDrives sell like hotcakes). I bought my first M3 8 months ago from a Hyundai dealer in town who said it had been sitting for a while as well. "So why do dealers buy cars like these that don't sell?" I ask. Apparently cars like these are a magnet for traffic, even though most people are interested in something else.

I also asked him if he'd take 2010 M3 as a trade and how we would do the exchange since I was out of state. Apparently he ships/delivers cars all over the place so he said he'd ship me his car and I'd just load mine up for the trip back.

Last Friday night I actually discovered this very thread and reading it made me panic--if the internet knows about this car, it won't last long! Frankly it pushed me over the edge...the thought of losing a potential gem due to inaction goaded me into (irrational?) action.

So I called him Saturday morning and asked him to hold if for me and said I'd be there by 4PM (SLC is a 7 hour drive from Boulder). I also asked him if he'd match the price as shown in the link from the OP. He said that wasn't the actual price of the car...WTF. He confessed that many dealers will show a sold hot rod for some reasonable but very attractive price to signal to visitors that they're ready to make great deals. He also offered to fax me the paperwork between his business and the other dealer showing the "swap price." It was definitely in the same ballpark as the price shown in the link but definitely higher. The tricks of the trade I guess.

When I arrived in SLC I spent about 90 mins crawling around, under, inside, etc...no mechanical inspection was possible that evening or Sunday when most garages are closed. I drove it, listed for knocks, pings, smelled the oil, looked for leaks, checked VIN's...but it gradually silenced my "someone is playing me" inner voice. Having just been in my 2010 for 7 hours straight, I thought I had a pretty good base to judge from.

The strange thing about the car is that while it's definitely "new" there are some odd incongruities: the boot on the DCT shifter was unclamped from the center console, the grommet in the seatbelt strap that keeps the buckle in place was missing, there were no manuals, only one key, and some dingleberry had put too much oil in it ("oil level too high" warning). It also has a little paint scratch just below the driver's door handle which looked like someone keys rubbed against the door at some point. I also found several razor blades under the seat (no cuts!) and finally decided at some point that this car had probably been used in a crime(s), had been sitting in someone's garage for a while, then had been sold to a dealer (in Vegas no less), who then sold it at action to another dealer in Utah...who then traded it to this private dealer. Of course I'm totally speculating about these things...but it seemed like the car had seen some "action" whatever that may be.

The dealer asked me what I wanted for my car (25) and he gave me 23...which was definitely within the range of what similar M3's are fetching. I handed it over to him with 79,550 on the odometer. Fair deal I say!

Meanwhile, while I'm sitting there, someone else calls him about the car...really glad I drove out when I did.

I ended up getting some price concessions from him, plus we both agreed that I had saved us both about 1200 in shipping costs which we deducted from his asking price.

Before writing a check I looked him straight in the eye and said that I was about to set off on a 7 hour drive and that if he had any concerns about this car I'd really like to hear them. He said the car is totally tight and he had no worries at all. Apparently the factory warranty had just expired (4 years) even though it only had 5 out of 50K miles on it.

So I drove the new M3 home that night and got 26MPG @ 75MPH over 515 miles! Apparently I had a good tailwind. It just purred the whole way; it's now got 5600 miles on it. I was a bit concerned about the high oil level so I never brought it above 3000-3500 RPMs.

I'm getting the oil flushed tomorrow and asked them to check for any fault codes. I'm going to drive it like a granny for a few weeks so I can get to know it. Hopefully nothing pops up. If I had to do it all over again I'd probably have tried to stretch the deal out so that I could get a PPI...but I also figured that in this day/age it's pretty difficult to totally dick someone over without paying a price for it...so we'll see what happens


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      02-07-2018, 09:34 AM   #19
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Wow, that's a ton more MPG than what most all of us get. I'm not even in the ballpark.

Have you gone to BMW and asked them to insert the key into the machine they have to see what services they have performed? The mileage does not seem to coincide with the condition. Not saying there was an odometer rollback but if there had been, it would sho up there.
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      02-07-2018, 09:55 AM   #20
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Originally Posted by BOOF-M3 View Post
Wow, that's a ton more MPG than what most all of us get. I'm not even in the ballpark.

Have you gone to BMW and asked them to insert the key into the machine they have to see what services they have performed? The mileage does not seem to coincide with the condition. Not saying there was an odometer rollback but if there had been, it would sho up there.
I think the crazy MPG was literally due to a 40+MPH tail wind (driving east in Wyoming). For what it's worth, I barely got 20MPG driving west against a 40MPH headwind.

I've got an apt with the dealer in a week for exactly that...so hopefully I'll learn more about it then. It's at a well regarded local shop today and they'll be changing the oil and checking for fault codes. Hopefully I won't need to post a later today.
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      02-07-2018, 07:27 PM   #21
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Originally Posted by DrFerry View Post
Great story: A few things stand out: Car was in Vegas (and may have been there longer than the Dealer let on). Car had razor blades under the seat. Car had scratches under the door handle. My inner Sherlock says this was a stripper's car who had long nails and was fond of white powder (hence the razor blades).
PS:
The DCT shifter boot was unclamped because that was where she hid her stash.
How did I miss this? Lol, that's exactly what I think.
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      02-08-2018, 08:20 AM   #22
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Well the car checked out at the shop I went to; no faults/error codes. They gave it a thumbs up.

We'll see what the dealer says in a week...
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