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Discussion Starter #1 (Edited)
The opportunity has presented it's self to buy a 2002 m3 6speed for $10,000. It has 112k miles and is in good condition. I work with the guy who owns it, and he is the second owner. He bought it in early 2005.

I was thinking about buying it to make a profit, but want to confirm that 10,000 is a good deal for a 2002 with 112k miles.

What do you guys think?
 

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yeah its a good deal, highly doubt its in good condition.. why else would he let the car go for several thousand below value.
 

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Discussion Starter #3
yeah its a good deal, highly doubt its in good condition.. why else would he let the car go for several thousand below value.
I have looked at the car and its pretty clean. It needs front brakes and a good detailing. He was going to trade it in for a truck and the dealership offered him 10K, so I told him I would give him the same amount and he would rather just sell it to me.
 

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thats a crazy deal, I would take it to a BMW dealer to get it inspected though. $10k for an m3 with 122k miles is still pretty dang cheap. usually it would be around 15k-16k. Just put an extra 1-3k in maintenance and your set.
 

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Dude that is a good deal because the stealership is buying low so that they make a profit on resale. A ppi is wise and will hopefully show you any major issues if they exist. The money you save on purchase could be used for changing all the fluids and some mods when the bug bites you !! Good luck Dennis
 

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Its a decent deal, but dont plan on making a big profit which means calculate your time into that also and its probably a wash... A $10k M3 quickly turns into a $12.5-$13.5 M3, which makes it about what its worth anyways. If you like the car, and want to drive it for a while, you could basically drive it for free for a few months while cleaning it up and getting it ready for sale. This is speaking from experience in buying and selling 60+ cars as personal vehicles, 5 of which have recently been M cars. Even getting a GREAT deal on all of them, by the end of the 6 months I drove them, I never made money but broke even after repairs and such. And just for the hell of it... here is a break down..

2000 E39 M5 - paid $18k, put in 2k, was totaled by idiot red light runner, got $23k....lucky.

2001 E39 M5 S2 - paid $21.5k , put in $2k worth of bushings and clutch, drove for 6 months, sold for 22k.

2001 e46 M3 - paid $13.5k, put in $1900, totalled by asian lady on her phone not knowing that traffic stopped, paid $15k by insurance

1997 E36 m3 - paid $8900, put $1500 into it, sold it for $7500

1998 E36 m3 - Paid $16k, sold for $16k.

More recently... bought 2003 E46 M3, 113k , cross suspension, militek exhaust, csl bumper, csl trunk, new headlights, no repairs needed. $14k

So unless its worth it to you to buy that car, go through the trouble of cleaning it up and fixing what it needs to be "in good shape" and MAYBE if your lucky make $1k, Id pass... unless you want to drive it.
 

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Basically my dream track car if you got it for 10k.. Probably just going to buy something like a Nissan and build an rb25.. But if i could get an m3 for 10k damn that would be sick...The car IMO has def been in a terrible accident? Salvage titled maybe? All I have to say really
 
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