Hello everyone! First of all id like to introduce myself, im Joey, 19 years old from NJ. Ive been lurking here for a while, reading all of your intelligent and helpful posts! Ive been an Audi guy since ive gotten my licence, i first bought my own a4 1.8t and sold it to take my sisters a6 off her hands, a 00 2.8. Well the miles were getting kind of high so i decided to get rid of it while i could still get what i put into the beautiful machine. Ive been without my own car for about 8 months now, thankfully my father lets me drive around his beater car while i search for my own (very thankful and appricitate for him helping me out).

So here is the situation im in. I work very hard for myself, my father and i opened a powder coated business about 3 years ago, which i mostly run now because he does not have that much time. Not huge, takes up a full 2 car garage, but it keeps my bust and brings in some decent money. Ontop of that i buy and sell atv's and dirtbikes/ build them from scratch and sell them. Ive been doing this for about 3 years also right after i got our of racing. Basically ive put about every single penny ive earned in the bank, i dont spend much money on myself like i should. This summer i also got a job with the government while im in college to bring in some extra cash. At the moment i attend a community college in NJ for free because of my grades in highschool, i figure this is a better route then spending 80k on a school for two years when im getting the same core classes out of the way for my major. Since im on the forum you all can probally tell im an enthusiast like yourself. Ive been in the market for an s4 (b6 chassis), its one of my favorite cars, but being that they are rare and still rather new, i really cant see myself spending 40k on this machine, its just out of the question.

A buddy at work has a good friend who is a dealer. Basically what he does it goes to auctions and picks up cars that need work. He mostly does high end cars, bmw's, audi's ect. He has a lot of knowledge with BMW's its the cars he repairs the most. Well a month ago my friend came up to me and said his buddy had an m3 he is selling. Not being a real BMW fan before i saw the car i said hey why not? I checked out the car and to my suprised i was amazed and pretty much speechless after i saw the car. The car is gorgeous and clean inside and out. It has some aftermarket parts on it as well. Full Moton suspension/adjustable control arms/and sways (6 easily here), super sprint exhaust, short shifter, carbon fiber trim, and 19' wheels. The only draw back i knew before the car was that it had a salvage title. The owner before it lived in Texas (no winters to effect the car), and im guessing he was an enthusiast by the way the car is set up. Occasionally he took it to the track and that is how the car became a salvage, it hit a wall, messing up the front end.

The guy who is sellign it is very good at what he does, very reputable. Front fenders, hood, headlights, radiator, bumper, ect were replaced with brand new genuine OEM BMW parts ( have reciepts to prove). Ive had several people who know what they are doign look at it, and to their eye and skill they can not tell the car has been in an accident before. Cars looks mint, frame is straight ect. Its a 02 m3 e46 with 44k miles. Carbon black/grey- fully loaded besides nav, sunroof and heated seats. All the inspection 2 maintaince was also done while being repaired, valve adjustment ect. So basically the only blemish on the car is the salvage title. The asking price is 27k. Ive done research and i feel this is a very good opportunity to pick up a very nice m3. The same car stock with a clear title can bring in anywhere from 31-35k, not to mention the 7-8k worth of aftermarket parts this car boasts.

So my question to you all is what do you think of the whole situation. Insurance and tax will be of no concern (thankfully im on my dads plan still and not my own, although i still pay for it). The car will not "break the bank" for me, as i will still have a decent amount of money to invest. Remember i work pretty hard for myself, i never spend a dime on anything for me. I figure this is how i can reward myself for all the work i have done. Again thank you all for your thoughts and conerns in advance. It means a lot that you take the time to read this!

joey

Even if it's worth every cent of the 27k he is asking ( and from what you wrote it sounds like it is), you really need to offer much less due to the salvage title. When you try and resell that car in a few years that title is going to kill its value. It won't matter how nice it is, 80-90 percent of the potential buyers out there won't even look at a salvage car.
For 21k it's a good deal, for 27k you'll take quite a depreciation hit on that car someday.

This is how i feel, a car is a depreciating value no matter how nice it is. I will not be putting many miles on it, and i will only keep it at 3 year max. I feel the suspension and other aftermarket parts will sell the car in the long run. Yes i will loose money like any other cars, but i feel the value will still be in the lower 20's by then. Any thoughts or comments? What do you think?

also..i thought you couldnt do full coverage insurance on a salvage title? Or was i told incorrectly (while you dont plan on wrecking if you cant have full coverage being that young with that car its not safe investment wise to carry liability). also agree with apollo because honestly from a private buyer you could swing a stock 01 m3 with similar miles for 29-30 or an 02 for 30-31 that will probably have the 6yr100k engine warranty due to bmw's recalls...i doubt bmw will honor anything on that car now that its been wrecked...but it all weighs in to what your priorities are...id offer 24-25k..there's no way he'll take 21

He is pretty firm on price, he wanted 28, but is willing to take 27. He has a list of people who are intrested in the car as soon as the title comes in, he is doing me a favor by offerign it to me first since im freidns with his good buddy. He will take 25k, but thats pretty much putting it back to stock. Yes i can get full coverage on this vechicle.

if you can get full coverage go for it...dont have much to lose besides maybe 2-3k more then you'd lose resale wise for a reg titled car..

if i was in the situation, i would consider how long i am going to hold onto the car. it seems like a fair enough deal, but who knows what the depreciation is going to be like down the line. i would bite my lip on this one and let is pass by.

id try to get it for 25k as is..

and then when you sell it.. part it out.

actually, if you have aftermarket parts, you wont get sh1t for them if you leave em on the car, you are better off pulling off everything aftermarket and selling it on ebay and putting the car back together at OEM..

also, many owners, particularly of the older crowd will not even loook at a modified M3. modified would hint driven hard, tracked, abused, to most people, and you know how the first impression is a lasting one. this is if they can get over the salvaged title.

personally i would never buy a salvaged car, but ive heard stories about people who have and it turned out great. its kind of like rolling the dice. it can work out great or it can feel like the sh1t hit you in the face. anyhow, id say try to get it for 25k as is and that way you will not take much of a hit, especially if you sell the aftermarket parts when ur selling the car.