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Author Topic: To sell or not to sell  (Read 4344 times)

magnum2066

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To sell or not to sell
« on: March 03, 2007, 11:29:34 AM »
So I've pondered on the idea of selling my 318is for a while now.  It recently came back to mind when a good friend of mine decided that he REALLY wants the car.  I didn't even mention that I was still selling it and he offered me $8500 the very next day.  Thats EIGHT THOUSAND FIVE HUNDRED US DOLLARS.  I know he is offering far too much considering all the cosmetic problems the car has. (Clear coat is shot, seats cracked, etc...)  The reason I even considered selling my first car is because of the cost to fix it all up to near-new condition.

I bought the car for $1500 from my cousin who pretty much had to put it all back together.  (There were bolts and screws in ziplock baggies and the transmission was in a tupperware tub, so it was virtually rebuilt from scratch.)  I've recently ordered many many parts, mostly from you guys, just haven't had the time to install em'.  :)

I'm in limbo of what to do... Lower the asking price or take it and run.  He's already driven the beast so he knows what its like to drive.  At teh same time I don't like the idea of knowing that I'm virtually ripping him off.  Suggestions?

Items bought but waiting to be installed:

All new Brembo rotors
All new EBC brakes
All new brake lining sensors
New front shocks
Extra set of wheels
B&M Short shifter kit
New left/rear tail light
Virtually new Hella foglamps w/ covers (retail $250)
New low and hi beams
Extra set of low and hi beams
New shift boot
Caliper rebuild kits
Shift lever seal
Extra Bosch oil filter
New mudflaps
New moonroof cables
Aftermarket Sony CD deck
Scoche wiring harness
4 new Alpine 5 1/4” speakers

Engine Rebuilt 3000 miles ago, as I mentioned above the car was pretty much inspected through-and-through since it was all ripped apart.
No leaks except for a tiny power steering leak.  (Add a tiny bit every 2-3 months)
Royal Purple 5w-30 in engine, also replaced filter
Never failed to start yet  (Even in -50 to -60 weather)
« Last Edit: March 03, 2007, 11:38:20 AM by magnum2066 »
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RED IS 91

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To sell or not to sell
« Reply #1 on: March 03, 2007, 11:57:32 AM »
Never failed to start yet (Even in -50 to -60 weather)
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« Last Edit: March 03, 2007, 12:00:44 PM by RED IS 91 »
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magnum2066

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« Reply #2 on: March 03, 2007, 12:15:14 PM »
Farenheit, and its called North Dakota.  :D

The -60 was with wind chill but its still pretty damn cold.  It finally warmed up recently to about 15- 20 above.

You know its stupid cold out when it doesn't even snow.
« Last Edit: March 03, 2007, 12:17:33 PM by magnum2066 »
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ak96ss

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« Reply #3 on: March 03, 2007, 12:51:26 PM »
For that money, take it and buy another one.
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John in MD
uh, it's a '91 318is, like everyone else...

individualist

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« Reply #4 on: March 03, 2007, 04:01:34 PM »
Your question begs another. Do you have to ask if you should rip off a good friend?
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magnum2066

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« Reply #5 on: March 03, 2007, 04:25:22 PM »
Thats exactly what I was thinking about.  If you ask me he has way too much money to blow on stuff.  As a driver I know he would take care of the beast.  In my 14+ years of living up here in Grand Forks I've only seen 4 BMWs total, one of which being mine.  You will see more if you head 6 hours from here to St. Paul but thats more of a convenience thing going on...

I really don't know.  I'm expecting him to call within the next two hours though.
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RED IS 91

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« Reply #6 on: March 03, 2007, 06:55:34 PM »
Quote from: magnum2066;20464
Farenheit, and its called North Dakota.  :D

The -60 was with wind chill but its still pretty damn cold.  It finally warmed up recently to about 15- 20 above.

You know its stupid cold out when it doesn't even snow.


I grew up in Northern Maine and it got 40 below quite often .So cold , no wind,and you could see the ice crystals in the air . I know what your talking about brother . It is actually quite pretty when it's that cold with no wind .Like you said "so cold it doesn't even snow".
Do what you think is right with the car . The fact that your even asking on the forum suggest you may have  a little guilt .
Like I said do what you think is right and go from there.
good luck
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ak96ss

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« Reply #7 on: March 04, 2007, 09:01:04 AM »
OK, let me qualify my response. Talk to your friend, and make it clear that they could get another E30 for less. Then point out all the things that are right with your car, and all the extras you have available.

If he is still willing to spend the money, and you want to sell it, then by all means do so.

I don't view it as ripping off anyone - if everyone thinks they got a good deal, then there are no issues, right?

I have more than that into mine, and wouldn't sell it for that little even if I didn't. Which means, truth be told, that I won't sell my E30 for any less than a LARGE sum of money, which no one in their right mind would pay.
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John in MD
uh, it's a '91 318is, like everyone else...

Bmer318i

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To sell or not to sell
« Reply #8 on: March 04, 2007, 05:50:41 PM »
I don't really think it would be ripping him off because he is the one who made the offer and it is apparent that he wants YOUR car. Im sure he realizes he could get one somewhere else if he really wanted to. If it were me I would sell it. Good luck with your decision.
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///Motorsport

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« Reply #9 on: March 04, 2007, 10:50:09 PM »
I'd take 6k, (giving him a deal, of course) and bring the car to him with a trunkload of brew or whatever he likes...
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tophertii

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« Reply #10 on: March 05, 2007, 09:43:09 PM »
Make it fair or your next car will be a money pit. It always seems to come back around.
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nomad

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« Reply #11 on: March 06, 2007, 01:26:52 PM »
Take $6k, sell him the car and then send me all that worthless 318is stuff you've got laying around.
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magnum2066

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« Reply #12 on: March 06, 2007, 01:42:28 PM »
Quote from: nomad;20701
Take $6k, sell him the car and then send me all that worthless 318is stuff you've got laying around.

Funny, funny guy over here... Calling 318is parts worthless...

I got another call back a day ago and although he's still interested, he wants to rid himself of a car before he goes for mine.  (He's got 5 right now, just bought a new Mustang.)  Any and all parts I have will be sold with the car, since that makes most financial sense for me.  Thanks for your input guys, I did mention that I would be happy with just 6k instead of 8.5 and hes cool with that.
« Last Edit: March 06, 2007, 01:45:05 PM by magnum2066 »
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magnum2066

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« Reply #13 on: March 20, 2007, 01:24:15 PM »
I gave the guy another callback, turns out he bought a New Mustang and a 50" TV instead.

So... With that offer up and dry I've considered a couple options.

1. Keep the car and pay God knows what for repair.  (Clearcoat is shot, moonroof needs repair, shifter/ transmission work is needed...)
2. Try to sell the car (Which I doubt I would get 1000 from a dealer and stuff.)
3. Part out the car (My best option, especially with the rebuilt engine 3.5k miles ago, LSD, and very decent mechanical parts and interior).

Although the last one is my best one financially, it kills to put my cousin's hard work to shame in such a way.  He rebuilt the thing from the ground up, without a service manual I might add... All the parts were in tubs or in huge baggies to begin with.  Breaking down a car like this just literally makes me want to cry, being that its so badass and respectable... But I just don't have the money to fix the thing.  I attempted to start saving for school last August, and still I have nothing saved up because of this beast.  I've been looking at some newer 328IS BMWs and I was hoping to grab one of them and be done for a while.  Parts are easier to find and such as well... Selling my car is an option, but I would want 2500-2800 which is more than I believe it would sell for, but I need the amount to be of some significance due to school...

Any of you have suggestions?
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