Opinions on a Rebuilt 2011 E90 M3

[JDM_CL9]

Hi Everyone,

I've been on the search for a E90 M3 for a while and wondering if anyone has any opinions on a rebuilt title?

I know for this type of car it should be a definite redflag but I'm getting a bit impatient and wouldn't mind if the price is right?

The car in question was a previous member's car pictured in this thread:
http://www.m3post.com/forums/showthread.php?t=820387

It has since been repaired and is sitting at a used car lot here in Toronto for awhile now and hasn't sold because I think the price is high considering the title.
http://wwwb.autotrader.ca/a/BMW/M/Mi...PO&orup=5_15_8

I actually test drove this car back in November when the previous owner still had it and tried selling it privately. Seemed to drive great and the repair job looked well done. I have pics of it from the previous owner who had it fixed (before/afters) which I will post later tonight.



My question is: would you do it? and if so - at what price would it make sense? (If I'm crazy - just say so ! )

Note* Canadian Pricing. and in Kilometers.

[Yoddha]

No way in hell I would buy that...not only is the price ludicrously high, but think about how hard it is going to be to sell down the line when you don't want it anymore. Be patient and keep looking. Pulling the trigger whilst impatient will indubitably lead to buyers remorse. For peace of mind and true joy, wait for the right car.

[Helmsman]

JDM, assuming car is WELL maintained and serviced and you can confirm the repair is 100% done, and obviously at the right price, why not. 44k seem high, have you informed them about that you are aware of the background?

Cheers

[maloo]

Keep in mind it probably costs more to insure a salvage titled car and some insurance companies may take a pass on covering it at all. Not sure how it works in Canada but that's one of the few questions my agent asked me when I was signing up for a new insurance policy.

[Flea7]

Not for 44k...noway.

[Flying Ace]

should add this car to this pictogram:

[maloo]

Originally Posted by Flea7

Not for 44k...noway.

At 24k it's questionable.

[Flying Ace]

Originally Posted by maloo

At 24k it's questionable.

It's CAD...which is 36 USD...which I agree is too high, I think $24k USD is reasonable, but I prefer to stay away. The damage doesn't look that bad though, but no picture under the hood...

[JDM_CL9]

Thanks Guys! That's what I pretty much wanted to hear... Just figured maybe at the right price it would make sense... Dealer knows the history.

At 24k I'd probably buy it given its done properly.

[maloo]

Originally Posted by Flying Ace

It's CAD...which is 36 USD...which I agree is too high, I think $24k USD is reasonable, but I prefer to stay away. The damage doesn't look that bad though, but no picture under the hood...

I forgot CAD but yeah still way too high. It would be interesting to see data on the resale value of these things.

[Sered]

You can buy a decent condition 2011 with a good title for ~$40k USD. That price is just silly.

[maloo]

I'm guessing someone has more money sunk into the repair than they thought it would ever cost. Thought they were smarter than the insurance company. Frame damage is serious business.

[avantegardestyle]

OP

a few things I can advise you on, just to make sure you make the right decision on this.

My car was bought after being in an accident and now has a rebuilt title.
so I think I am in a position to speak regarding this issue more than some others.

1. If the car was not badly damaged It will function and drive no different from a car that doesn't have a salvage title, which sometimes have been in really bad accident, had more damage than the car you are looking at, but never reported so it has a clean title. ( in the case of my car, I only needed one headlight, a bumper and a hood, along wit radiator support. I ended up changing other things like the dash and windscreen but those were more to make sure I restored the car properly than them needing to be changed.

2. DO NOT TAKE A LOAN TO BUY A SALVAGE CAR. I bought my car cash, and paid in the teens for it and then spend another 5K to have it restored. the opportunity to own the car outright and not have a loan was what made me pull the trigger. I also had seen the car before it was fixed so I know exactly what was damaged and what needed to be changed. If you are going to finance a car, make sure that its a car with a clean title because salvaged cars are at times had to trade it and you will be forced to take a lot less for it because of that reason. Most dealerships don't even want to take them.

3. THE WARRANTY IS PRETTY MUCH VOIDED. as a result of this, when there are repairs to be done you will have to do it out of pocket. I don't know if you can get an extended warranty on a salvage car. So repairs can be expensive because you gonna have to pay everything out of pocket. as such, preventative maintenance and monitoring stuff is key to save you dollars down the road.

4. IT SHOULD NOT COST YOU MORE TO INSURE. any insurance company that is charging you more to insure your car is ripping you off and should not be dealt with. my rates are good from progressive, in line with any other car of that type with that age. However Please make sure that your insurer has agreed on a fixed value for you car, by having it inspected and valuated. if you don't do this you run the risk of having them weasel their way out of paying you in the event something goes wrong and you try to make a claim

5. THE PRICE FOR THAT CAR IS TOO HIGH. once the car has a salvage title, as a guide, you should never pay more than 70% of book value for the car.


In my case it did not matter. I get to own a great car and not have to pay a loan. if something is broken (as long as it isn't a blown engine or transmission) I can fix it relatively cost friendly as i have good relationships with Mechanics/ Body shops.
I am not going to sell this car. One day I will give it to my son to drive.....the E9x M3 will be regarded as one of the best cars BMW ever made in light of the crap coming out now.......

[jinuwin]

I was in a similar boat last month but opted to get a clean car. If you're that uncertain of purchasing the car, others will think similarly. IMHO, it will be really hard to resell unless you lowball it.

I'm Canadian too and for a damaged M3, I wouldn't pay more than $30k. Just be patient. It took me a year of looking around before I pulled the trigger and bought one. I have no headaches or regrets with my purchase, not having to worry about swerving and engine failures associated with damaged cars.

[Cbozz]

I would only do it if the price was super low and car was rebuilt at BMW center.. or known mechanic.. not some random one.. or if I was to rebuild it myself... wouldn't get it as my primary car tho I don't think...

[GWerks]

I would stay away.

[ilikebmxbikes]

ima say no

[M3Bimmer77]

I owned an E46 silver with salvage title about 10 years ago. Bought it for $2,400. Nice ahh!!!! Not for long. Had a shop repair " metal issues". Right side of frame was bent, but not for long. Guy fixed frame and installed used doors, new front fenders, used bumper and used hood. Painted the whole car removing windows, gaskets, trim and glasses. Reassemble everything perfect until it got to the electronics. What a nightmare. After several months and hundreds put into it, the car was drivable. It had trim issues, seat issues but I fix it little by little until I sold it. Good experience. Most important was that I got the initial wrecked car for cheap and had no need to get the car done so I had time to search for great deals. Even though I wanted to have a nice car I worked on a tight budget. I would do it again if I got the car for little $$$$$.

[JDM_CL9]

Thanks all!

[Yvette]

that's crazy price for rebuilt

[JDM_CL9]

Originally Posted by e90sexion

that's crazy price for rebuilt

I know right?! Just wondering what kind of price it would have to be to make sense.

[Alpha_M]

Don't do it. BMWs are generally tough built and for it to have gone through enough damage to have a rebuilt title means that damage was significant. No matter how good the repair shop is, the car will never quite be the same way it was out of the factory.

I know our local Toronto M3 market sucks compared to US and I was getting impatient near the end of my search too but wait for the right one. It will be worth it at the end.