Is this too good to be true?

[UsernaM3]

Hey guys, need some unbiased advice.
I have been searching for a good Hellrot E36 M3 2 door for a couple months and one just came up yesterday that totally fits my budget and criteria. It’s 90k miles, one owner, great shape, $10,500 but about 700 miles from me. I messaged him kinda late last night (10:30 PM) asking if it has been garaged and he said yes until 3 years ago and then it has been under a carport. I then responded and said great and asked if the clutch has been replaced, no response. Ok, it’s late, whatever.
I texted this morning (10:30 AM) asking if he could hold the car for a $500 deposit while I’m on vacation and he said no and he needs to sell the car ASAP. Alright, whatever. I can either find a friend or I could fly out tomorrow and trailer it back with a U-Haul and be home by 10PM Monday to go on vacation on Tuesday. I contacted my father and he has a friend near where the seller is and she said she could pick the car up for me and pay for it on Tuesday.

11:30 AM: Seller said ok it’s at his brothers and that’s where they’ll meet. I talked to a couple friends and they recommended a ppi so I messaged him (12:50 PM) and asked if he’d be ok with me sending a mechanic over to just do an inspection tomorrow before they pick up the car on Tuesday and he responded saying “sorry, there’s another buyer and they left a deposit for me to hold the car and said they’ll be back tomorrow with the remainder of the cash” and that he’ll let me know if anything changes. I said ok sounds good.


Do you guys this this guy is full of it? Maybe he’s worried the mechanic will uncover something? Maybe he just wants to get it out fast and so he doesn’t want to hassle with that? Should I offer $11,000 and see if he changes his mind? I find it interesting he wouldn’t tKe a deposit from me but he would from someone else? Maybe it’s a scam and he’s just trying to rush me to buy...
What are your thoughts? Thanks!

[marvinstockman]

Good way to dispose of $11K down a rabbit hole. If you have the VIN, you can do a Carfax for the vehicle. Remember, there's always another vehicle out there with your name on it.

[Solaris99]

Test him. Respond "I don't think I can find a mechanic to come over, but I'm still interested if you don't sell it." and see what he says. If the car is suddenly available again, that could be an indication of his comfort with a mechanic looking at it. Then tell him you luckily found a mechanic and you're ready to proceed. If he gets difficult again, he's hiding something.

[UsernaM3]

Good way to dispose of $11K down a rabbit hole. If you have the VIN, you can do a Carfax for the vehicle. Remember, there's always another vehicle out there with your name on it.

thanks for your opinion. It helps to get a clear headed opinion when I’m looking at this stuff. Carfax did come up clean, so at least there’s that. I’ll do what the below poster says and see how it goes.

- - - Updated - - -

Test him. Respond "I don't think I can find a mechanic to come over, but I'm still interested if you don't sell it." and see what he says. If the car is suddenly available again, that could be an indication of his comfort with a mechanic looking at it. Then tell him you luckily found a mechanic and you're ready to proceed. If he gets difficult again, he's hiding something.

thanks so much. I’ll give this a go and report back! The ad has been taken down which is starting to make me think it’s really sold or he’s full of it.

[blckstrm]

Hey guys, need some unbiased advice.
I have been searching for a good Hellrot E36 M3 2 door for a couple months and one just came up yesterday that totally fits my budget and criteria. It’s 90k miles, one owner, great shape, $10,500 but about 700 miles from me. I messaged him kinda late last night (10:30 PM) asking if it has been garaged and he said yes until 3 years ago and then it has been under a carport. I then responded and said great and asked if the clutch has been replaced, no response. Ok, it’s late, whatever.
I texted this morning (10:30 AM) asking if he could hold the car for a $500 deposit while I’m on vacation and he said no and he needs to sell the car ASAP. Alright, whatever. I can either find a friend or I could fly out tomorrow and trailer it back with a U-Haul and be home by 10PM Monday to go on vacation on Tuesday. I contacted my father and he has a friend near where the seller is and she said she could pick the car up for me and pay for it on Tuesday.

11:30 AM: Seller said ok it’s at his brothers and that’s where they’ll meet. I talked to a couple friends and they recommended a ppi so I messaged him (12:50 PM) and asked if he’d be ok with me sending a mechanic over to just do an inspection tomorrow before they pick up the car on Tuesday and he responded saying “sorry, there’s another buyer and they left a deposit for me to hold the car and said they’ll be back tomorrow with the remainder of the cash” and that he’ll let me know if anything changes. I said ok sounds good.


Do you guys this this guy is full of shit? Maybe he’s worried the mechanic will uncover something? Maybe he just wants to get it out fast and so he doesn’t want to hassle with that? Should I offer $11,000 and see if he changes his mind? I find it interesting he wouldn’t tKe a deposit from me but he would from someone else? Maybe it’s a scam and he’s just trying to rush me to buy...
What are your thoughts? Thanks!

This isn't too hard to believe at all. Lots of people don't know the real value of one of these today. Especially the original owner types. It doesn't help that the appraisal sites like Edmunds are ridiculously low.

For example, Edmunds says a 1999 M3 Coupe with all options and 90k is worth $4500. "Retail price." That's at least $10-15k low depending on condition.

My guess is someone saw the deal and jumped on it. Maybe even picked it up to recondition and flip for double. Or more.

[UsernaM3]

This isn't too hard to believe at all. Lots of people don't know the real value of one of these today. Especially the original owner types. It doesn't help that the appraisal sites like Edmunds are ridiculously low.

For example, Edmunds says a 1999 M3 Coupe with all options and 90k is worth $4500. "Retail price." That's at least $10-15k low depending on condition.

My guess is someone saw the deal and jumped on it. Maybe even picked it up to recondition and flip for double. Or more.

That was my other thought! I literally was about to fly down there in the morning and pick it up haha. Hell I still might

[realjones]

I find it interesting he wouldn’t tKe a deposit from me but he would from someone else? Maybe it’s a scam and he’s just trying to rush me to buy...

Wow you guys are really overthinking this. Someone local showed up, checked out the car, put down a deposit and will go the bank tomm to get money to close out the sale. LOL at the solaris mind game tactics

His goal is to sell the car. A local person is going to beat out someone 700 miles away every single time. Cash talks. PPIs are lame for sellers and yes they will hold out for someone willing to just look at the car and buy it...no it doesn't mean they are hiding something. Has it been garaged, has the clutch been done, can I get a mechanic to look at it, can my friend pay for it....you setup yourself up as a pain in the butt buyer. Did you actually tell him your friend was coming to pay for it? That will set off some red flags from a seller's perspective too you know....

[Solaris99]

Wow you guys are really overthinking this. Someone local showed up, checked out the car, put down a deposit and will go the bank tomm to get money to close out the sale. LOL at the solaris mind game tactics

I've been around long enough to know a lot of people are full of crap. You can never really know who those are. If he really wanted the car, there was no harm in what I had suggested. You assume too much.

[Braymond141]

If you’re buying a car that is priced competitively, you better be ready to go get it. Stop playing games and educate yourself on what to look / ask for. A car that isn’t “too good to be true” will likely sit around long enough for you to text about, send mechanics over, have friends of friends go pick up... or whatever. Also note that deposits mean nothing. Legally they have to be returned if the buyer passes after putting money down to “hold before inspection”. There’s no incentive for sellers to prioritize your request that could end up in wasted time and a refund.

He had a car for sale, you didn’t act based on his needs.

[Alpine 318is]

Wow you guys are really overthinking this. Someone local showed up, checked out the car, put down a deposit and will go the bank tomm to get money to close out the sale. LOL at the solaris mind game tactics

His goal is to sell the car. A local person is going to beat out someone 700 miles away every single time. Cash talks. PPIs are lame for sellers and yes they will hold out for someone willing to just look at the car and buy it...no it doesn't mean they are hiding something. Has it been garaged, has the clutch been done, can I get a mechanic to look at it, can my friend pay for it....you setup yourself up as a pain in the butt buyer. Did you actually tell him your friend was coming to pay for it? That will set off some red flags from a seller's perspective too you know....

I agree with this. Money in hand, even if its less, can be much better than the "promise" of money.

[scooper]

second the previous 2 posters...

Getting a PPI is great if seller is willing especially if you are an outta town buyer. But likely a local knows these cars and is jumping on it. Sucks for out of town buyers.

When I was looking for my first M3, I had a PPI done on a car in Chicago (not local to me) and the dealer told me it wasn't worth it. Saved my ass. In another instance I told a buyer I would buy his car that was localish to me and would pick it up on a Friday two days hence. The next evening the guy calls me and tells me he sold it. Morale of the story is pick your shots, do your due diligence, and be ready with cash in hand.