Buying my own used M3?

[Atombyte]

I have a 2013 M3 I've been leasing for the last 3 years. LeMans Blue with Premium package and EPS, so it's a 6MT and no comp or cold weather package (I'm in South Carolina so no loss there). After trying several dealerships, including board sponsors here, I can't come close to the deal on a new M3 that I got on my current one, even with a cheaper car. To be honest, even if I could match it, I'm not sure I'd really want to go to the F80 over my E92 other than it's a sedan. I am not interested at all in a M4.

So I'm faced with either buying out my lease or going another direction (truck, riding lawn mower, Big Wheel?). Searching for 2013 M3s for sale, it looks like the average sale price within a 250 mile radius is around $47k. Most of those examples are DCT and many have the Comp package that I lack, but with similar mileage with mine. The buyout on mine is $42k which seems to be about right with the current market. It has 32k miles and I know how it's been cared for, driven, garaged, and maintained. My local dealer says I can CPO it for $2500.

My instinct is to buy this one and do a few tasteful mods. I'm curious to hear thoughts on this; especially related to the buyout price and the CPO option.

[guarnibl]

Based on your post I think you should buy it with CPO unless you're really really wanting the zhp package. The f80 is a much better DD and has more torque but the e92 is very special in its own with the v8 and steering. You can always supercharge it too with the money you've saved.

[dparm]

Finding another M3 means taking a gamble. Your M3 is a known-quantity -- I say stick with what you have.

Competition Package (ZCP) is nice, but I don't think it's a must-have. You can always buy the wheels separately and there are folks on here who retrofitted the suspension pieces in. You've also got LeMans Blue, which is a wonderful color.

Also, for $2500, I'd probably CPO it. I bet that's negotiable too. Remind them you'll be returning there for service. It's easy money for them.

[Atombyte]

Thanks. I may have been a little misunderstood. I did a search for price comparisons to help gauge if the buyout was too high; not that I was looking for a different M3. It was actually not easy to find examples built like mine to compare with. I am thinking my car at $42k seems pretty much in line with local pricing but had to compare it to cars with more options averaging $47k without CPO.

[dparm]

Oh okay, thanks.

IMO, the $2500 price for CPO is not a bad deal. A BMW EVP warranty that comes close to CPO would typically cost almost double that, and it has a deductible.

[OneSickM]

Originally Posted by dparm

Oh okay, thanks.

IMO, the $2500 price for CPO is not a bad deal. A BMW EVP warranty that comes close to CPO would typically cost almost double that, and it has a deductible.

+1 on this

[mercedesc63]

Originally Posted by Atombyte

I have a 2013 M3 I've been leasing for the last 3 years. LeMans Blue with Premium package and EPS, so it's a 6MT and no comp or cold weather package (I'm in South Carolina so no loss there). After trying several dealerships, including board sponsors here, I can't come close to the deal on a new M3 that I got on my current one, even with a cheaper car. To be honest, even if I could match it, I'm not sure I'd really want to go to the F80 over my E92 other than it's a sedan. I am not interested at all in a M4.

So I'm faced with either buying out my lease or going another direction (truck, riding lawn mower, Big Wheel?). Searching for 2013 M3s for sale, it looks like the average sale price within a 250 mile radius is around $47k. Most of those examples are DCT and many have the Comp package that I lack, but with similar mileage with mine. The buyout on mine is $42k which seems to be about right with the current market. It has 32k miles and I know how it's been cared for, driven, garaged, and maintained. My local dealer says I can CPO it for $2500.

My instinct is to buy this one and do a few tasteful mods. I'm curious to hear thoughts on this; especially related to the buyout price and the CPO option.

How much was ur lease anyways?

I find that hard to believe that they can't at least get u close to where u are now with all those options.

Buying is always cheaper than leasing but you assume the risk for the cars value and especially in an accident.

Also new cars aren't used cars so I mean comparing them is like comparing apples to oranges.

I think buying a e92 2013 or any year is extremely vulnerable to the value going down fast in the next 3 years and WILL loose some serious money.

[Atombyte]

Originally Posted by mercedesc63

How much was ur lease anyways?

I find that hard to believe that they can't at least get u close to where u are now with all those options.

Buying is always cheaper than leasing but you assume the risk for the cars value and especially in an accident.

Also new cars aren't used cars so I mean comparing them is like comparing apples to oranges.

I think buying a e92 2013 or any year is extremely vulnerable to the value going down fast in the next 3 years and WILL loose some serious money.

You bring up some great points. My current lease is $740/month for 12k miles/3 years. I did not pay any cap cost reduction or MSDs. Best I can find on a new M3 with a MSRP about $1500 less than my current one is $895/month for the same lease. And that's a maybe. I'm not sure they really had any allocations. Most others were > $1000 / month.

I was torn on getting a new one anyway. I spent a day driving new M3/M4s at the performance center. While I liked the new M3 well enough, when I left there in my E92, there is still a lot I liked about it better. I never warmed up to the M4 for some reason.

I've lived through (and paid for) the worst of the depreciation on my current car. Unless something catastrophic happens, the depreciation should slow considerably. I'm pretty sure a new 2016 M3 will depreciate much more as a percentage and in real dollars than a 2013.

You're right that comparing new to used is apples and oranges, but that's the boat I was in. I've made my choice not to go new this time as the new M3 just wasn't compelling enough for the price I'd have to pay. Any new car checking in at around $45k just isn't in this league. So now I'm looking at what $45k can get me in the pre owned market and cross shopping that with my M3.

[mercedesc63]

Originally Posted by Atombyte

You bring up some great points. My current lease is $740/month for 12k miles/3 years. I did not pay any cap cost reduction or MSDs. Best I can find on a new M3 with a MSRP about $1500 less than my current one is $895/month for the same lease. And that's a maybe. I'm not sure they really had any allocations. Most others were > $1000 / month.

I was torn on getting a new one anyway. I spent a day driving new M3/M4s at the performance center. While I liked the new M3 well enough, when I left there in my E92, there is still a lot I liked about it better. I never warmed up to the M4 for some reason.

I've lived through (and paid for) the worst of the depreciation on my current car. Unless something catastrophic happens, the depreciation should slow considerably. I'm pretty sure a new 2016 M3 will depreciate much more as a percentage and in real dollars than a 2013.

You're right that comparing new to used is apples and oranges, but that's the boat I was in. I've made my choice not to go new this time as the new M3 just wasn't compelling enough for the price I'd have to pay. Any new car checking in at around $45k just isn't in this league. So now I'm looking at what $45k can get me in the pre owned market and cross shopping that with my M3.

Here's my final point..

I will be buying a 16 because it's got the last nice maintenance package 4 yr 50k that includes a lot more (brake pads/windshield wipers/clutch/etc).

In a couple of years I might have to stoop to the level of buying used.

Which I just sold my used 11 E93 M3 and it was cheaper than a lease not gonna lie but no steal. If I where u I would shoot for 850 and some down because the car is worth more and is so much faster.

But it u want my opinion about buying ur car out they can do better on the cpo pricing maybe 1800... As far as the buyout goes I would try for at 41-43 no more.

They can negotiate more than u can imagine.