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  1. #1
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    Need a little help

    I am the org owner of a 2001 M3 6sp. with 31k on it. Due to the low mileage I am having a little trouble finding a good starting point for a used car sales price. The car is Silver with Imola Red interior. All options except for Nav. Garage kept and looks like the day I bought it. Any help would be great! Thank you.

    Take care
    DaveS


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    01's are going for

    Clean examples, of course, command up to $25k, but only to a certain buyer. It all comes down to how fast you need/want to sell.

    Don't know much about the color combo you have there. If it were me, I would think this is a less desirable color combination, but what do I know? I got black on black (fear of color?) :)

    Options, generally speaking, do not hold their value, they don't add much.

    If you can wait to sell, you could try asking $25k. If you want to sell fast, think closer to $20k.

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    Re: 01's are going for

    Thank you. I guess I will be trying for 25k. I will prob post it on here and some other online forums.

    Thanks again and Take care.
    Dave-

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    For an older car, good records on care are key.

    If you have good maintenance and inspection records, that could go far in adding perceived value to the car.

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    Re: Need a little help

    We're in a recession. It's affecting Hyundai and Aston Martin. BMW's in the middle and it's also affecting their demand and prices, both new and used. An older car (more than one year old) generally depreciates 15% a year. Last year, all of my cars went down about 20-25% because of the recession.

    Your car is over seven years old. Used car prices assume that the car was put in service at the beginning of the model year. For 2001 M3's that means May of 2001. So you car's value is based on it being eight years old. Banks and credit unions generally aren't willing to carry a loan on anything over seven years old. So, there's a downward spike when a car reaches seven years old. Anybody who can stroke a $25k check for a eight year old used car can also likely stoke a check for, or qualify for a loan on a new one.

    Maintenance costs on old BMW's are hell. That affects a car's value, especially for high mileage cars. Yours is low mileage, so that actually helps you. Miles affect the value of an older BMW more than it does a newer one still under warranty.

    Coupe' or convertible? Generally, if the top goes down the price goes up. The exception is high performance cars. The waiting list for M3 convertibles went down a lot faster than the coupe waiting list back in 2002/2003. If somebody wants a BMW convertible, they generally want an automatic and generally don't want to pay the added purchase and maintenance cost of an M3. I never understood the logic of a Porsche Turbo convertible, either. Neither did Porsche, until very recently. They didn’t build a 911 convertible until 1983, 17 years into 911 production.

    There are a lot of pristine E46 M3’s to be had. A pristine E10 (2002, or 2002tii) is actually more expensive now, because they’re rare as hell. The E46 M3 isn’t rare enough to hold its value. That takes a long time to happen, and even then it only happens to rare cars. I read somewhere that 1/3 of the E46 coupes were M3’s.

    The E46 looks old, not bad, just old. Non-enthusiasts will say “nice, old BMW.” They’ll look at a 2004 911 and can’t tell it from a 2009 911. A big part of the used car market puts a lot of importance in a car not looking old, being the same platform as the current production model.

    I have an early 02 coupe with 72k miles. The last time I www.kbb.com -ed it, mid-November, the value was somewhere around $20k. If you can get $25k, you’re likely doing o.k. If you get closer to $30k, you da man! It depends on how many look-lu’s you’re willing to tolerate taking test drives in it. I supposedly have four people on the waiting list for mine. #3 gave me his business card while I was getting gas one day.

    Roadfly’s classified seems to work. Try BMWCCA club newsletters, too. They both have very BMW-focused readers. Plus, you're less likely to end up dealing with somebody on America's Most Wanted, M Lounge excluded of course.

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    edmunds.com is usually Very close

    Spring being here helps, you can't give away limited market cars like M3's in cold weather. The 2006's I'm looking at went up a couple hundred in the last month on Edmunds.
    good luck
    ADS

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    Re: Need a little help

    GREAT info! Thank you for taking the time to give me so much insight on selling this car. I hope I can get close to the 25k I would like to get.

    Take care.
    DaveS

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