2002 BMW M3: Buyer Opens A Pandora's Box of Questions
July 20, 2009
Last week I got a quote from a wholesaler for our 2002 BMW M3. It was a good price but I was interested to see what kind of respons it would get on the open market.
So over the weekend I decided to throw it up on Craigslist. Maybe I could improve the wholesaler's quote. The TMV for this car is $18,400 and I decided to drop the price slightly to $18,000 since time was short.
Friday night I got an email from an interested buyer. Saturday I got several more emails. Sunday morning I got a call from a young guy who wanted to see it right away. "I'll be there in 30 minutes," he said. "I promise I'll be there." Well, since he promised...
Sure enough, in 30 minutes, here comes this nice kid, only 20 years old. He wanted to take out a loan from his uncle to buy the car of his dreams. On the test drive he told me he had been following this car, this year, since he was about 13 years old.
He immediately began asking questions about what service had been done to the car in our 20K plus miles of driving. Digging through records I found that we had done the 60,000 mile inspection 11, oil changes, replaced tires, upgraded the brakes and performed several other repairs.
Then he asked if the car had been driven hard. All I could say was, "It's an M3. What do you think?" Basically, the car asks -- no, demands -- to be driven hard.
I gave him all the information we had about the car and its condition. But frankly, I hope he doesn't buy it. I hope he saves his money, buys a Honda Civic and waits until he has a little less testosterone before he gets an M3. As for our car, this is a good one for the wholesaler.
Philip Reed, Edmunds Senior Consumer Advice Editor @ 73,850 miles