'97 M3 w/ 190k. Should I buy? ...
I've found a '97 M3, Automatic with 190k on it for $6,000.
The dealer is telling me that these engines will last at least 300k and that it's been well taken care of.
I'm trying to replace my current car that only has 180k on it, and it just seems weird to be buying a car w/ more miles.
Is he right about the life expectancy?
He tells me that there's a night and day difference between VW (current car) and BMW as far as the engines and that I'll love this car.
What questions should I be asking him about the car?
Part of the issue is that he offers in-house financing and my credit is whiped 'cause of medical / work issues ;( so I feel like I can't be too picky.
Why should I or why should I not buy this car?
Let me know if you need more info.
Thanks in advance for your thoughts.
Properly maintained and not abused 300-500 IS a normal life expectancy for these cars. Blue book round here is just under 9000 so the price isn't out of line provided all the service work is done, everything works and there are no cosmetic blemishes at all (documentation provided). Price drops about 3g's otherwise. The hang up is going to be the financing, lots of buy here pay here dealers sell you the car "cheap" but the when you get your monthly or bimonthly payment, add up all of your payments and you end up paying like 12 grand for a car that's worth 5 and if you miss payments, they repo it and when you can't pay the full amount due they re-sell the car to someone else and you still owe the money. Take a calculator do the math, if the payments add up on total to over 9 grand your not getting a good/fair deal per book value. Don't know the laws in WA but if you ask the right questions here you can really screw with the used car guys.
Thank you for your reply.
As far as the price, I forgot to mention that's after my trade in of may car. The sticker is indeed $9,000. Also, his in-house financing is 0%. After my car and a down payment, I'll be making payments on $6000. I'll make sure and ask the right questions and do some math before signing anything.
Thank you again.
For what it's worth, my advice is a :thumbdown on this, principally because you'd be putting yourself at financial risk to give in to seduction. Yes, a well maintained, NOT abused car will last a very long time, but the "M" designation cars are almost a guaranteed invitation to abuse. My bias, or sensibility, is that the stock BMWs offer more than ample power, and quite good fuel efficiency as well, at least on the highway, especially with a manual transmission. To me the "M"s are an advertisement for excess.
Some further things to consider... Do you have any indication of the service, and possibly the accident, history of this car? Have you figured in the insurance you'd be paying over and above what you're presently paying? Are you willing to pay more for the required premium gas on a car that probably gets significantly poorer gas mileage than your present car? Think all this out so the emotion doesn't get ahead of your head, this just seems too dicey for your present situation.
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