Need advice about buying my buddies 1996 M3.

[jerome2111]

Hey Everyone,

I am new to the board. I need help on deciding whether to buy a friends car. He has a 1996 M3 that he is being forced to sell. (I have always wanted one of these!) It is in beautiful condition as far as I can tell and he has always taken it to the dealer for service. He absolutlely babies this car. My concern is that he has spent a ton of money keeping this car up. On the one hand he has replaced anything and everything that the dealer has turned up during services so I am confident that it is currently in good running condition. However, I have heard about his $4,000 bills from the dealer so I am worried about what other repairs lie ahead. The car has 75,000 miles on it and he is asking $11,000. Is this a good deal? Any opinion would be much appreciated.

Thanks

 

[Kirby]

IF the car is very good condition, with that mileage (low) and maintenance history, it is not a bad deal.

 

[jerome2111]

Any other comments guys? I will probably have to make a decision by the end of the week. Everyone here seems to be an expert and I could really use the advice.

Thanks

 

[Big Daddy]

NADA for my area values that car between $11,000 and $14,000, seems good to me. If he is the original owner with all the service history, and the dealer says the car is up to date with service, etc. I would not be afraid to buy it.

 

[jerome2111]

He is not the original owner but he has owned the car for about 6 years. Are there any typical problems that go wrong with this car. I know where has has it been serviced so I could check and see what things have been done. Anything specific I should check for? The car is silver with grey interior. Also I think he might have recently replaced the clutch.

Thanks

 

[Big Daddy]

I am not familiar with common repairs on thsi year, but you may find some information here: Bimmerworld

 

[MReedBMWM3]

Jerome,

The price sounds good, especially with only 75k.

A common problem with e36 M3's is the cooling system. Find out if he has upgraded the water pump, stock water pumps had a plastic impeller that would fail, and ultimately lead to an over heat. Find out if your buddy upgraded the thermostat housing from plastic to aluminum. Another part known to fail. Other than that you should be fine. Around 100k I would get new shocks and struts.

I purchased my 95 M3 from a meticulous one owner. I have spent several thousand dollars on maint. & upgrades. The difference between this car and others that i've owned is, I love it. She is worth every penny that I spend on her.

Did I mention her name is Christine! lol jk

Good luck.

 

[jerome2111]

Thanks Guys! I will keep you updated.


Big Daddy, thanks for the info. I am in Law school, tell me you liked being a lawyer.

 

[selavia]

Thanks Guys! I will keep you updated.


Big Daddy, thanks for the info. I am in Law school, tell me you liked being a lawyer.

...Anything has GOT to be better than being in Law School.

Good luck with the M3...but I gotta ask the question, will you have time to drive the car with all that reading?

 

[Average Jae]

most law students must sacrifice either study, sleep or social life. i suppose you can fit driving in there too huh?

i took the lsat and everything, but the thought of reading all that text scared me off. course what i'm studying now isn't all that appealing for my brain either.. *sigh* oh well. ^^;

btw, did you end up getting the ride?

i'm not really sure, but it sounds like a low milage and a descent price for the car. but always "be weary of buying a car from somebody you know" if things are good then things are good, but if not, the resentment from all the fixing and stuff you have to do may put a strain on the relationship.

 

[jerome2111]

Thanks for the responses. I ended up passing on the car. His cousin wanted it and offered him 12k for it. I figured the repairs would end up killing me in the long run. As you can see, I have enough debt from school. Law school is a bitch but its not all that bad. I have time to go to the bathroom once in a while. JK. In reality, its tough but anyone can manage it. I just hope it pays off.


Josh

 

[selavia]

I just hope it pays off.


Josh

Isn't that the hope? But sometimes doesn't feel so far away? Who knew 3 years could feel like 50 going through it, but like a flash once you've done it.