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E36 M3 (1992-1999) {Euro - S50 B32 321hp @ 7400 rpm} {U.S. - S52 B32 240 hp @ 6000 rpm}
Total Produced: 71,212 - Years Produced: 1992 to 1999


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Old Fri, Sep-28-2018, 10:56:51 PM   #1
Area57
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Default Should i buy it?

Im looking to buy an m3. I dont have that much cash today. I was thinking of maybe financing one but ive never financed before and like to just own something.

I saw this one losted and test drove it. I got him down to 2500. Which i think is a steal. But maybe in wrong.

So its a 1997.
260k miles
New this stuff:

new battery with 3 year warranty, relatively new tires (over $1k), new engine coils, new serpentine belt, oil always changed on time, new water pump, spark plugs, new smoked tail light housing units, new halogen turn indicators, Always used at least 91 AKI gasoline, bluetooth audio and hands free calling, alpine deck, alpine sub, very nice alpine amp.


What doesnt work are:

Snall oil leak
Check engine light on
Passenger windiw needs actuator
Front left turn signal doesnt work.

What do you think?
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Old Fri, Sep-28-2018, 11:26:34 PM   #2
omairtheman1
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Default Re: Should i buy it?

I think you should get a PPI aka a pre purchase inspection.

What you stated as the problems can range anywhere from $500.00 dollars for parts and labor to $5000.00

Be careful... Nothing more expensive than a cheap BMW!
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Old Fri, Sep-28-2018, 11:49:06 PM   #3
pbonsalb
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Default Re: Should i buy it?

Might be hard to finance a 20 year old car with 260k miles. Could be a higher interest rate personal loan.
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Old Fri, Sep-28-2018, 11:52:25 PM   #4
JitteryJoe
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Default Re: Should i buy it?

Should I buy it? No, not if you have to borrow the $2500 to buy it.
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Old Fri, Sep-28-2018, 11:55:19 PM   #5
Braymond141
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Default Re: Should i buy it?

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Originally Posted by JitteryJoe View Post
not if you have to borrow the $2500 to buy it.
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Old Sat, Sep-29-2018, 01:17:18 AM   #6
westopher
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Default Re: Should i buy it?

If you own one of these cars, and intend to maintain it, $2500 should be a number you’d spend on a night at the strippers, not a number you need to borrow. I’d suggest saving, and buying a decent 325is.
It’s a lot more rewarding to maintain a decent car than fix a rolling dumpster when it comes to learning.
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Old Sat, Sep-29-2018, 01:22:00 AM   #7
Area57
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Default Re: Should i buy it?

I dont think i said i would have to borrow 2500 for it. I meant to say instead of financing a newer model. Icoukd pay for this one with tonights stripper budget and have fun learning to restore a car. Of which i have about 500 dollars a month to play with
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Old Sat, Sep-29-2018, 01:50:04 AM   #8
pbonsalb
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Default Re: Should i buy it?

If you are able to do all the work yourself and have the time, money and energy for a project, you could end up with a decent driver by putting another $5-10k into it over the next year or so. You would want to have the skills to change an exhaust, water pump, suspension bushings, head gasket, clutch, etc.
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Old Sat, Sep-29-2018, 03:07:26 AM   #9
westopher
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Default Re: Should i buy it?

Quote:
Originally Posted by Area57 View Post
I dont think i said i would have to borrow 2500 for it. I meant to say instead of financing a newer model. Icoukd pay for this one with tonights stripper budget and have fun learning to restore a car. Of which i have about 500 dollars a month to play with
It sounded like that, but if not, Iíd say go for it if the bones are good.
Donít bother if itís rusty, or needs a new motor, but other than that, like said, this +5k and some elbow grease could net you a great car for cheap.
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Old Tue, Oct-02-2018, 07:34:51 PM   #10
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Default Re: Should i buy it?

I think it would be wise to spend a little more up front, a $2500 E36 M3 is going to be pretty rough. If you're okay with a pretty major project car, then more power to ya.
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Discussing Should i buy it? in the E36 M3 (1992-1999) Forum - {Euro - S50 B32 321hp @ 7400 rpm} {U.S. - S52 B32 240 hp @ 6000 rpm}
Total Produced: 71,212 - Years Produced: 1992 to 1999 at BMW M3 Forum.com (E30 M3 | E36 M3 | E46 M3 | E92 M3 | F80/X)