Is this a good buy for a 08 m3 coupe?

[davidhan510]

Hi so its a ///2008 M3 COUPE 6 SPD MANUAL, 29K MLS, 1 OWNR, WARRANTY. It is at a dealer but is not an actual BMW dealership. It is space grey and does not come with navi. It has existing factory warranty of either 50,000 miles or 4 years, whichever comes first. The price is at $42,488,00. I can probably bring down the price down more. Just wondering if this is a good deal for a 2008?

Thank you,
David

[penny31]

you can bring them out. I sold my 08 for 42,000 and it had navi and some other premium options and that was in june. I'd go for 40,000.. and then maybe settle at 41,000...

is 42, 488 their final price?

[davidhan510]

Yeah there was a silver one with 34k miles Smg transmission with navi for 43300. This space grey one is probably going to be really easy to talk down because they aren't an official dealer haha.. Btw that is the online price.

[Raja Ventureshield]

you don't really specify what other options the car has besides the no navi.
does it have prem, cwp, tech, edc
condition also plays a role.
price sounds about right.

[davidhan510]

So it is listed that it comes with premium package and the exterior of the car is flawless. Premium sound, shadow line trim.

[jimib]

I just picked up an nice '08 M3 at the end of a lease.
26,000 miles. premium, cold wthr & tech packages 19" wheels
$36,326

[yalam45]

How/Where did you find the deal?

Originally Posted by jimib

I just picked up an nice '08 M3 at the end of a lease.
26,000 miles. premium, cold wthr & tech packages 19" wheels
$36,326

[Salna]

Originally Posted by yalam45

How/Where did you find the deal?

http://www.m3post.com/forums/showthr...2#post10993512
Absolute steal

[jimib]

My friend got married and his wife can't drive a stick, so he bought a new one with a DCT and I just paid the residual.

[Endless619]

Originally Posted by jimib

I just picked up an nice '08 M3 at the end of a lease.
26,000 miles. premium, cold wthr & tech packages 19" wheels
$36,326

Right, but not a coupe and not with all the options offered from BMW or CPO?

More than likely a private sale and not a dealer sale. I looked at almost every state the past 12 months since buying my Z4M and not one was that low from a dealer with that kind of mileage. Salvage ones, yes.

At Kuni, BMW of Seattle, BMW of Portland, BMW of Salem, BMW of Bellevue, etc here in the PNW Coupes or Sedan M3's with that mileage and CPO are ALL high $40k to low $50k. We are talking 2008-2010 M3s.

There is a 2008 on CL for $39,900 but no warranty and has 59800 miles on it and at a private dealer, so buy at your own risk. Actually it just sold.

Here is another one...Sedan.

http://portland.craigslist.org/mlt/ctd/2764624960.html


I am not saying its impossible that low but just sounds a bit TOO low.

[jnr]

Just to be clear to folks who are lusting after the deal that jimib got, it seems pretty clear to me that he simply was able to get his friend to sell a BMW that was coming off lease at the residual price.

His original post in the share the deal thread stated:

"Lease buyout
Just pick up a 2008 E90 red M3 at the end of a friends lease.

26,000 miles

Packages:
Cold Weather, Premium, Tech, Premium Sound
19" wheels, moonroof, HD Radio

$36,378"


In 2008, the residual values were MUCH lower than those offered on current leases. For example, on an E93, the residual on a 36 month, 12,000 mile a year lease when I leased my car in December of 2008 was set at 54% of MSRP. The current residual for an identical lease is now 62% of MSRP. While the residuals for an E90 are a little different, the same sort of range applies.

Although the current residual values are clearly high so as to allow BMW to discount the leases without appearing to sell the cars at a low price, the 2008 residuals turned out to be fairly representative of the current wholesale value of cars coming off lease now (remember, many 2008 models were leased very late since BMW had a hard time selling them in the financial crisis).

Since you can buy your car for the residual price at the end of the lease, what this means is that someone coming off a 2008 lease can buy their car for a price that is very favorable -- often close to wholesale -- particularly if they did not use all of the miles on the lease.

Although BMW does not allow you to assign your lease buyout to a third party other than a dealer, in many states (including mine, Maryland), you do not have to pay sales tax when buying your leased vehicle, since you already paid it up front. Therefore, you can buy your car and immediately sell it to a friend, with only the normal tax as if the friend bought the car directly.

I may be wrong, but it looks like this was an off market lucky deal. Great thing for jimib, and I am happy for him. But not a good guide to the market price of a normal retail deal.