2002 BMW M3: Is There Any Depreciation on Driving Pleasure?
June 29, 2009
I don't know about you, but I can't afford a new BMW M3. But now, I might be able to afford a used one.
Our 2002 BMW M3 Coupe is going to be leaving home soon, and it will be my job to push it out the door. So this morning I took a look at what we paid for it and what we hope to sell it for.
About 18 months ago we paid $30,000 for our menacing, black, freeway rocket. It had 50,000 miles on it, definitely not a spring chicken. Still, the needle on the fun factor registered a high reading.
Now, our True Market Value price is $18,508 at 72,951 miles. That means the car has depreciated $11,492. If you were leasing the car, that would be the equivalent of $638 a month (before taxes and DMV fees). That's still a pretty steep monthly payment for me.
But on the other hand, that's a lot of car.
Philip Reed, Edmunds senior consumer advice editor @ 72,951 miles.