M42club.com - Home of the BMW E30/E36 318i/iS
DISCUSSION => General Topics => Topic started by: speedf50 on September 26, 2006, 07:12:47 PM
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I have been searching all over the forums for the last week and have come to the conclusion that I absolutely love the 318is. I went to look at one this last weekend and the car felt really nice and looked good. After I was almost positive that I wanted the car and was prepared to pay, the guy turned around with some BS story that his mom wouldn't let him sell it, WTF? None the less, he had a friend that was also selling his 318is and it looked even cleaner and nicer. Black with around 230,000 miles on it. The car has nice new springs+ shocks, and supposedly a dinan chip. Along with a front strut and a sway bar, and a nice sounding Remus exhaust. Really clean inside and looked sexy from outside. It’s also had only one owner previously, which I checked on carfax to be true, and the seller said it was an old lady. So basically the car seems awesome, but he is asking $5000! Is that too much? I have been seeing people on the forums saying that 3.5 is allot, so is this price ludicrous? Or has the 318is become that much of a collectors piece? I really want to buy the car, but wanted a little input from those that know that kind of car the best. And sorry no pics, but there were virtually no scratches and as I said it looked sexy! Although most e30 coupes seem to. Thanks for any help.
And yeah I posted this on bimmer forums and then realized that I am an idiot and way more people here would know about this.:) Thanks for any help again.
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5k seems a little pricy. He's probably trying to recoup the money he sank into his mods. Also, I wouldn't belive any of that junk about the owner before him, 95% chance that's all made up to make you feel better.
I wouldn't go much higher than 3k based on your description
Brian
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Yeah, I was thinking of offering a little more than that because these are just so hard to come by here in so cal most of the 318s are convertable. The car is in great shape though, but do you just think that 230000miles isn't worth more than $5000? Would the engine last much longer? And thanks for any input.
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I would think that car should be around 3000-3500
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I have been searching all over the forums for the last week and have come to the conclusion that I absolutely love the 318is. I went to look at one this last weekend and the car felt really nice and looked good. After I was almost positive that I wanted the car and was prepared to pay, the guy turned around with some BS story that his mom wouldn't let him sell it, WTF? None the less, he had a friend that was also selling his 318is and it looked even cleaner and nicer. Black with around 230,000 miles on it. The car has nice new springs+ shocks, and supposedly a dinan chip. Along with a front strut and a sway bar, and a nice sounding Remus exhaust. Really clean inside and looked sexy from outside. It’s also had only one owner previously, which I checked on carfax to be true, and the seller said it was an old lady. So basically the car seems awesome, but he is asking $5000! Is that too much? I have been seeing people on the forums saying that 3.5 is allot, so is this price ludicrous? Or has the 318is become that much of a collectors piece? I really want to buy the car, but wanted a little input from those that know that kind of car the best. And sorry no pics, but there were virtually no scratches and as I said it looked sexy! Although most e30 coupes seem to. Thanks for any help.
And yeah I posted this on bimmer forums and then realized that I am an idiot and way more people here would know about this.:) Thanks for any help again.
Sounds like a bait and switch to me.
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So you are saying to look for something else? What makes you think it is a "bait and switch" and if so, then thanks becuase I don't have much experience at all at buying cars.:) But I really want a 318is because they look soo gut!
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I agree that $3000 seems about right. I paid $3600 4 years ago for mine when it needed exhaust and a seat reupholstered. It had 130,000 miles and was a completely rust free Texas car.
And a very big point - an E30 BMW is NOT a "collector" car. The M3 is "desirable" but it also comes a little short of collector status. First rule is that a car was unique when it was new. Second is that it is original and well preserved - not modified and no more than 20,000-40,000 miles.
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"Bait and switch advertising occurs when a particular item is priced so low that you have to be lured into the store to get it. This is the "BAIT". Since the offer is so incredible the general public acts like a mob and floods the store; often waiting in line or getting there before the store opens. Once you get in and proceed to purchase the item, it is either sold out, and/or the salesman discourages you from buying the product. He tells you the quality is inferior or there is no guarantee. Then the salesperson tries to "SWITCH" you to a more expensive product.
The truth with bait and switch however, is that the store never truly intended to sell the advertised special. The idea is to kill your desire to buy what is advertised and then try to get you to buy a more expensive item. Many times it is a simple $20 upsell and they play psychological games with you so you are reassured it was the right decision."
The bait is the original sellers car, switched with his friends car after his car became, "unavailable for sale because of his mommy."
This probably isn't a bait and swith scam, just sounds like one. Regardless, i think everyone here is telling you to keep shopping.
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You get what you pay for! I agree that $5K seems a bit high but it's not outrageous. How many very clean 318is's do you find these days? I used to subscribe to the idea that you buy the cheapest thing you can find and fix it up. If you start adding up your costs though to get things right you usually end up paying more than if you had bought the "overpriced" car that was offered to you to begin with.
Think long and hard about what it would cost to get a clean car into the shape of the one you're looking at now and then make your decision.
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Why dont you see if you can try talking the guy down. I generally think that sellers ask for more than what they actually want so that a buyer can negotiate his way down. Especially when it comes to cars.
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I looked all over FL for a clean 318is. Some of the prices were, well more than my budget. Long story short, I ended up buying sight unseen from a guy in VA. My budget was satisfied but my nerves were abit on edge.
I paid 2200 and have put some time and money into it. Most of it at cost and beir.
Point is, I would rather not spend 5K upfront but try to find a reasonable project car and put what I want into it. I would keep looking.
Funny thing. After I bought mine the lot down the street had a "twin" for 38K cash. I agree, maybe 3K.
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I found quite a few in the $2K- 3K range but all needed work and their past was questionable (no records). I ended up buying one for $5500 with 153K miles on the clock. In VERY good condition and it also came with all the upgrades I wanted. Ronal LS wheels, new tires, H&R / Bilstein suspension, recent brake job, stainless brake lines, aluminum control arms, etc. and most of the recent maintenance records. I decided to pony over the money for this one. After looking at his receipts, I could have bought one of the $2500 ones and done the same work, reconditioning, paint, etc. and had MORE money in it. Suddenly the $5500 seemed like a bargain.
Just be honest with yourself as to how much money you'll have to sink into the cheap car. It may be a bargain but then again, it may not be.
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I paid 2500 for mine w/ 147k miles. The front valence needed to be replaced and come to find out when I register it, it was a salvage title. So yea, you get what you pay for. However, I wouldn't spend more than 3500 even on a nice stock e30, they're 15+ years old for god's sake. Modified is another story, fully modified and restored I could do like 5 grand or more.
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I could have bought one of the $2500 ones and done the same work, reconditioning, paint, etc. and had MORE money in it. Suddenly the $5500 seemed like a bargain.
This is sort of my situation since I bought a cheaper car but needed some work. For me, this is the better situation since I can customize it the way I want and know the work will be done properly by me.
I don't think $5k is out of the question if it has been well maintained. What I mean by well maintained besides the obvious, are some of the costs or items people tend to overlook on a 15 year old, 230k mile car: control arms, ball joints, shocks, diff bushing, guibo, driveshaft bearing, etc...
Any pics of said car?
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If it's unmodified, there better be a good list of maintenane items that have been done and be in extraordinary condition to command a $5K tag.
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Yeah, sorry still no pics. I will try to get some this weekend when I go to look at it. And thanks for all of the help. Oh and the car is not unmodified, it has new shocks+springs (a little lower), front strut bar, sway bar, dinan chip (I asked if it was the real deal or an e-bay and he said it was "factory installed" but even then if it is an e-bay then they still work) along with a new momo steering wheel and a short shifter in the trunk (said something about not liking it but I could have it anyways). There were probably other modifications on the car seeing as I only looked at it briefly. And once again thanks for all of the help. I think I will offer 4 seeing as he is asking 5 and only go to a max of 4,5. Any other comments about buying the car would still be greatly appreciated because as I said I don't have that much experience in car buying. Thanks.
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How does the engine sound? Any ticks or crazy noises? Go for a long test drive with some 60-70mph maintained speeds for awhile and see how it sounds after that. Shut it off and see if it starts easily again. Take it to a mechanic that works on BMW's and have them "shake it down" to see what issues it has. The local BMW shop here does it for $100. When I first bought mine 7 years ago, they came back with a laundry list of things, from tiny light bulbs burnt out, to a leak in the steering rack. Some problems that seem small can make your $5,000 iS a $7,500 iS in no time flat, so beware...
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Thanks for the advice, I was planning on bringing my friend who is a designer at BMW, but after what you said, I think it may be a good idea to get a mechanic from the dealership to have a look. Ill look in to local pricing.
And he only started it up because I was kinda rushed, but at idol and a little higher it sounded good. I haven't gotten to drive it yet, but hopefully this sunday. And thanks for the help again, and keep it coming:)
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Tell Chris Bangle hello.
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lol, i'll go and do that.
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I paid $6.700 for mine six years ago, With 56k on it! Keep shopping!!!
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Well if it seems to be ok, and my friend says it is mechanically good, then does offering 3.5 and not going higher than 4.3 sound good? And thanks for all of the help. Any more suggestions/tips will still be greatly appreciated.
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Sounds like you've got yourself a plan. Also, I just noticed that you're out there in Cali, so the car should be worth a little more, just based on location. Let us know if you pick it up!!
Brian
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It has a lot of miles on it, and yeah it sounds like a bait and switch. I'd stay lower than your min from what I've seen out there during my search. You'll know when it feels right, don't be afraid to be patient. I looked obsessively for months for mine, and I'm very happy.
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Im planning on spending 5k on a 318is ive been keeping track of for the past year. 95k and flawless.
I guess its just worth it to me to have an exceptionally clean body on a car with good paint and under 100k for a 15 yr old car is awesome.