1st M3 is this a good buy

[bmwtankerguy]

I eveyone. Im new so bare with me.i'm thinking about purchasing a 2003 BMW M3 convertible. It has 79,000 miles the body is in great shape and the interioris in great shape the current asking price is 11500.it has the SMG transmission, heated seats, and is a clean Carfax.I was going to offer $9500 on the car. Just wanted an opinion on the price and what I should look for when I go to inspect the car. Thanks guys

[BradW]

the e46 model is pretty popular, and that is really low miles for a 12 year car. not everyone is fan of anything but pure manual. I don't know what issues come along with the smg. The price I think seems lower that I'd expect for an m3, particularly with such low miles. There are people asking nearly that for ZHP or even just vanilla e46's (particularly the ones that have been really well maintained).

have you see the service records? Have you researched the rather long list of items that likely will need replacing either right away or in the next 25k miles? It is possible you are in for another 6 to 10 grand just to get the car back to where it should be. Google this search term "e46 buyers checklist"

no matter what get familiar with issues for the e46 line and get a pre purchase inspection from someone that knows BMW's and that you trust.

[BimmerBreaker]

E46 M3 convertible SMGs are worth about that price - so the price wouldn't scare me off. (Having a convertible SMG would though...)

Get a PPI

[bmwtankerguy]

I pulled the carfax and it shows extensive service history. Seller also said that he can get records showing all service. He told me the only thing the car needs his front brake pads in about 2000 miles. In your opinion is $9500 considered a lowball offer? I don't want to be insulting but I also want to be prepared in case I have to put some money into the car right away.

[Inicent Child]

With those miles yeah its a lowball. Who is to tell you not to try though?

[BimmerBreaker]

I pulled the carfax and it shows extensive service history. Seller also said that he can get records showing all service. He told me the only thing the car needs his front brake pads in about 2000 miles. In your opinion is $9500 considered a lowball offer? I don't want to be insulting but I also want to be prepared in case I have to put some money into the car right away.

Get a PPI. A carfax means nothing.

Its one of the first years of the E46 M3 and the least desirable combination (convertible, SMG). Could only be less desirable if it was two years older and silver over black. The miles are fairly low but as hes only asking $11,500 so I don't think $9,500 is a lowball. In all likelihood you'll end up at $10k if your a decent negotiator. But definitely get a PPI before offering a cent. That will also give you some peace of mind regarding not needing to put a lot of money into it right away.

[bmwtankerguy]

Ok cool, im gonna setup a ppi with a local guy i know who knows bmws and has no history with this car. I'll keep you guys posted. Thanks for all the info.