[Duckengine]

Hello all, newbie here. I'm been driving a 2005 Acura TL for the past 5 years and with 213k miles, it's near time for a change. While the car is a lot of fun to drive with a nice amount of luxury, it's time for a step up. I found a 2008 M3 SMG coupe with 33k miles with a $38k price tag. I admit that I donn't know a whole lot about BMW except to know that the M series were a step above the other models. After reading the specs on this 2008 M3, that's a huge understatement!

Anyway, the price seems very reasonable and was hoping I could get a little feedback from some of you more experienced M owners to help guide me. What questions should I be asking?
Thanks in advance for your responses.

[Mozgov]

Originally Posted by Duckengine

Hello all, newbie here. I'm been driving a 2005 Acura TL for the past 5 years and with 213k miles, it's near time for a change. While the car is a lot of fun to drive with a nice amount of luxury, it's time for a step up. I found a 2008 M3 SMG coupe with 33k miles with a $38k price tag. I admit that I donn't know a whole lot about BMW except to know that the M series were a step above the other models. After reading the specs on this 2008 M3, that's a huge understatement!

Anyway, the price seems very reasonable and was hoping I could get a little feedback from some of you more experienced M owners to help guide me. What questions should I be asking?
Thanks in advance for your responses.

m3post.com has everything you'd want to know and more. Ask for records of maintenance. The E9x chassis is subject to rod bearing wear pretty rapidly so expect to replace them.

[skywalker2]

Originally Posted by 6toM3

I have been doing research in preparation for an E92 M3 purchase in the spring 2015 time frame.

Attached is my depreciation analysis based off the data I was able to cobble together from yahoo and following some of the threads around here. After referencing the work with cars.com I believe I am close but I would appreciate any additional feedback. I attached the spreadsheet if anyone else would like to use to plan their purchase.

My goal is well option 2012 E92 M3 in spring 2015 for around $42-44k with 30k miles.

-Matt

Why not buy a 2010 with similar miles now? Is there a reason you are waiting?

When deciding on my purchase, a major factor is the depreciation analysis. The reason is that I look at my car cost per month. Purchase price + expenses divided by number of months I own it. While I hunt for a great deal, and its VERY time consuming, I have consistently been able to drive M cars (M3 / M6) for around $500 a month or less (minus opportunity cost on my money since I pay cash).

01 M3 paid $35k used - $33k sales price / 20 months = $100 per month. Expense was $600 in maintenance.

08 M3 paid $59k new - $41k sale price / 50 months = $360 per month. My only expense was a set of tires for $1500.

08 M6 paid $44k w/CPO - $37k dealer trade in / 20 months = $360 per month. Expenses were a set of tires for $900 and 1 oil change for $250.

I could add sales tax which would bump this up, but you get the idea.

My "business case" to my wife - "I'm driving an M3 for the same price as a Grand Cherokee lease". Everybody has to pay something for a car anyway.

With a family, college to save for, etc etc it helps me to really enjoy the ownership experience knowing that I'm not taking money away from more important things. Reduces the guilt factor I guess....

I don't think you will see a 2012 in a year for that price, well not one you will want to buy. I just spent 5 months looking for the right E92 and I ended up spending $47k on a 2011 AW/Black E92 loaded up and super clean plus extended maintenance.

[Eau Rouge]

Originally Posted by skywalker2

Why not buy a 2010 with similar miles now? Is there a reason you are waiting?

snip

My "business case" to my wife - "I'm driving an M3 for the same price as a Grand Cherokee lease". Everybody has to pay something for a car anyway.

snip

I don't think you will see a 2012 in a year for that price, well not one you will want to buy. I just spent 5 months looking for the right E92 and I ended up spending $47k on a 2011 AW/Black E92 loaded up and super clean plus extended maintenance.

1. Really. Why not look at a 2010?
2. Accurate and logical IMO. Moreover, insuring the Jeep Cherokee might cost more than the M3.
3. Probably right

OP may be wanting one with factory warranty (not a bad thing to have) which would be harder to come by on a 2010.

OP

[clevername]

Originally Posted by 6toM3

I have been doing research in preparation for an E92 M3 purchase in the spring 2015 time frame.

Attached is my depreciation analysis based off the data I was able to cobble together from yahoo and following some of the threads around here. After referencing the work with cars.com I believe I am close but I would appreciate any additional feedback. I attached the spreadsheet if anyone else would like to use to plan their purchase.

My goal is well option 2012 E92 M3 in spring 2015 for around $42-44k with 30k miles.

-Matt

An interesting option, something I did when I got my first e46 M3 was to go to a location that was is very affluent. In my case it was upstate NY near Syracuse. I was there on vacation and looked at M3s. They were practically giving them away because they couldn't sell them, even used ones.

[6toM3]

Originally Posted by skywalker2

Why not buy a 2010 with similar miles now? Is there a reason you are waiting?

When deciding on my purchase, a major factor is the depreciation analysis. The reason is that I look at my car cost per month. Purchase price + expenses divided by number of months I own it. While I hunt for a great deal, and its VERY time consuming, I have consistently been able to drive M cars (M3 / M6) for around $500 a month or less (minus opportunity cost on my money since I pay cash).

01 M3 paid $35k used - $33k sales price / 20 months = $100 per month. Expense was $600 in maintenance.

08 M3 paid $59k new - $41k sale price / 50 months = $360 per month. My only expense was a set of tires for $1500.

08 M6 paid $44k w/CPO - $37k dealer trade in / 20 months = $360 per month. Expenses were a set of tires for $900 and 1 oil change for $250.

I could add sales tax which would bump this up, but you get the idea.

My "business case" to my wife - "I'm driving an M3 for the same price as a Grand Cherokee lease". Everybody has to pay something for a car anyway.

With a family, college to save for, etc etc it helps me to really enjoy the ownership experience knowing that I'm not taking money away from more important things. Reduces the guilt factor I guess....

I don't think you will see a 2012 in a year for that price, well not one you will want to buy. I just spent 5 months looking for the right E92 and I ended up spending $47k on a 2011 AW/Black E92 loaded up and super clean plus extended maintenance.

Thanks for sharing your experience. Interesting thoughts analyzing your true cost of ownership, and the value of flipping cars to avoid major maintenance.

A few reasons I am waiting until next year:
1) Building up an emergency fund
2) Preparing for a wedding
3) Want the depreciation of the new M3/M4 to have a chance to set in
4) May get a nice promotion soon

I am also more drawn to the 2011+ for the competition package.

[egebhardt]

Originally Posted by 6toM3

Thanks for sharing your experience. Interesting thoughts analyzing your true cost of ownership, and the value of flipping cars to avoid major maintenance.

A few reasons I am waiting until next year:
1) Building up an emergency fund
2) Preparing for a wedding
3) Want the depreciation of the new M3/M4 to have a chance to set in
4) May get a nice promotion soon

I am also more drawn to the 2011+ for the competition package.

Good reasons.
Especially #1
#2 is a killer but we all do it. That would pay for the car you want.
#3 Depreciation is inevitable.
#4 The economy has been rising for 5 years.

[egebhardt]

On my local CList, I've noticed a trend.

E90Ms are all at $30k. 2008-2010 with 70k, give or take.
All 6spds.

E92Ms are at $35k - $50k or higher.
6spds and DCTs.

In the E36M world, sedans pull a premium. In the E9XM world, coupes pull a premium.
Has it always been this way?
Is there a disadvantage with the sedan that I'm missing?

[Poofyo101]

I doubt you will see a ZCP 12 for that price this year...

[egebhardt]

I understand what a ZCP is and why they are worth more but that doesn't answer the question regarding the value difference between coupes and sedans.
Are ZCPs only offered in a coupe?