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08-26-2014, 01:27 PM | #1 |
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need advice on selling my car
I absolute love my MCoupe. I had always wanted one and was lucky enough to pick one up in March of 2010. Unfortunately last June my commute changed from 11 miles to 50 miles so I bought something that gets double the gas mileage. On the weekends I usually travel even further. So the only time I ever drive it is to go out to eat or shopping, and that is mostly because I don't want to let it sit for too long without giving it some exercise. I was looking at my biannual insurance bill the other day and began to ask myself why I am paying all this money for a garage queen and thinking maybe it is time to sell it to someone who will enjoy it as much as I used to.
Right now I believe I have about 39k on the odometer and 4-5k until Inspection II is due. I was wondering, would it be better to get the inspection before I sell it (and it actually needs it) or leave it as is and let the new owner take it to a mechanic of their choice? I figured I would need to factor that into what I ask for it, which is something else I'd appreciate suggestions on. It is stock except a stubby antenna, led license lights, stop-tech pads and braided brake lines. Thanks in advance, everyone here has always been the best! edit: thought I'd post a pic Last edited by Phishman; 08-26-2014 at 02:54 PM.. |
08-26-2014, 01:55 PM | #2 |
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Sounds like you should get around $27k-$30k for it, given the low mileage. However, your location will probably pull the price down a bit.
I wouldn't bother putting in the money to do an inspection II when you're about to sell the car. I would expect to pay an Indy at least $1200-$1500 for an inspection II, at least $2k to a BMW dealer. Its not going to raise the price of the car by much (if at all), because most buyers aren't going to understand how extensive inspection II is until they go online and research it, which they aren't likely to do before buying. If you sell to an enthusiast, someone on this forum for example, they may pay a bit for the value of having the inspection II already done. At the same time, a lot of dedicated enthusiasts would do most (if not all) of an inspection II themselves, so they're only saving the cost of supplies, which is around $300-$500. So I still wouldn't do the inspection II ahead of time. |
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08-26-2014, 02:01 PM | #3 |
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I was going to post my reply, but jdoublecubed said exactly what I would have said. I wouldn't do Inspection II ahead of time because that is only money that you will not recoup.
You didn't mention what car you bought that gets double the mileage but I hope that it gives you at least half the fun of driving your M Coupe!
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08-26-2014, 02:25 PM | #4 |
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If the insurance is the big issue have you considered looking into Hagerty or the other big collector car insurance companies? They usually significantly reduce insurance cost with better coverage and sometimes without mileage limitations, though that doesn't sound like an issue.
I rarely get to drive my coupe but I've resigned myself to the fact that for quite awhile its just going to be a fun car that I pull out for a drive when I have time so I'm eating the cost to enjoy it the little I'm able. Hope you find a fix or are able to get a good price for the car.
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08-26-2014, 02:30 PM | #5 |
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Why not use one of those classic car insurance companies? As long as you drive the car under x miles, it's pretty cheap premiums.
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08-26-2014, 02:37 PM | #6 |
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I picked up an '11 Sonata w/ a manual. It handles horribly and takes off like a wounded turtle, but it is a lot more comfy to drive through endless construction zones and I don't have to worry about where I park. Surprisingly, the M is infinitely easier to shift. I will definitely miss having it in the garage but it is just not practical anymore
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08-26-2014, 02:40 PM | #7 |
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Insurance premiums aren't the sole reason. For instance, in the winter it would be nice to use my garage for my dd instead of a car I can't get out of the driveway.
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08-26-2014, 02:50 PM | #8 |
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Would you consider selling it and the Sonata and getting something more enjoyable to daily drive? Maybe a 335 or 328i? I used to DD my M as well and now it sits in the garage all the time, with winter coming it will sit even more. Choices ...
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08-26-2014, 03:05 PM | #9 |
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I wouldn't ever consider driving anything nice on my commute; construction on the expressways around here never stops and there spots where someone gets rear ended daily.
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08-26-2014, 03:06 PM | #10 |
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I also agree with not getting the service done. The selling price won't go up more than the service costs and with a lot of owners, it not being due for 4-5k miles it may be another year (or even two) before it needs to be done.
As someone that lives in the same city I don't think the location brings the price down. For someone that really wants one of these there is a good chance they will have to travel anyway. Also, Enthusiast Auto is near us and normally has some of the most expensive BMW's anywhere. I tried to buy one from them and found a car of equal value for a lot less money by traveling out of the area. I do think this is one of the worst times of year to sell for anyone in the North. Same reason you are looking to get rid of it now is the same reason others aren't going to want to buy it now.
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08-26-2014, 03:44 PM | #11 |
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This is one of those cars that requires the right buyer at the right time. It's very limited in production so not many people know what it is. The fact that it can ONLY be had with 3 pedals basically limits the entire driving population down to about 12% that CAN buy it.
There's two scenarios at work here. You can easily list the car for $32,000 and have it sold within days for MORE because someone is looking for this exact car. Or you can list it for $24,000 and have it sit for months and months and not get a single sniff. My only recommendation is, if you really want to sell the car, you will need to learn to be patient, because no matter what price you list it at, you can potentially sell the car within days, or wait 6-8 months for the first phone call. I personally wouldn't bother trying to sell the car because of the reasons you listed. I would sell the car only when the right buyer come calling (actually, I wouldn't even do that since I've already had long time friends offer me over $30K for the car, and it's an '06 with a lot of track miles). Hold on to it. Put up feelers on a couple of message boards. Eventually someone will come across threads like this and send you a PM or email asking if the car is still for sale. Then you can talk. Otherwise, to sell this car for what you want to sell it for in the timeframe you're looking at is all based on luck.
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08-26-2014, 04:47 PM | #12 |
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Actually I just kind of lost track of time. I should have listed it a couple months ago though now that you mention it.
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08-26-2014, 10:19 PM | #13 |
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Easy for me to say, but...
Throw some moth balls in it and put it in storage. I think M coupes have a chance at becoming collectors cars...limited production, last "classic" naturally aspirated M inline 6 engine, manual box only, exotic looks (esp. considering price).. GL either way, agree that it is best to wait until the winter has passed if you want top dollar.
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08-27-2014, 07:29 AM | #14 | |
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Quote:
I do agree that they are somewhat of a collectible, just doesn't mean it is worth having it for the money.
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08-27-2014, 09:54 AM | #15 |
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Give Enthusiast Auto group in Cincinnati a call. They may want to purchase it. They go for strictly M's in great shape which yours look like is in. They are THE top M dealer and most knowledgeable, in the entire USA.
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08-27-2014, 02:55 PM | #17 | |
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In the end though, I agree with you: if the OP wants the money for other things, selling is the way to go.
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08-27-2014, 03:36 PM | #18 |
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08-27-2014, 05:40 PM | #19 |
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If I had the money right now, I'd totally take it off your hands! I don't really need a daily driver at the moment, and having a car in stick, specifically a Z4mc would be awesome lol.
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08-27-2014, 07:51 PM | #21 |
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As I said, it is stock except a stubby antenna (although I have the original), led license lights, stop-tech pads and braided brake lines. I believe it was leased before me. It had 14k on the clock when I purchased it at Leith BMW in March of 2010. I had all service done by BMW and have the paperwork from the time I have had it including the sheet that tells what shims were used for Inspection I. I inquired about the first oil change (what is it, 2k?) and the service guy confirmed it was in BMW's system. It was in immaculate condition when I purchased it but there is a little road rash on the paint in the front, that is why I don't plan on asking a ridiculous amount for it. I have the original tires on it and there is still plenty of tread on them. I will try to take some pictures this weekend if anyone is interested.
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08-28-2014, 08:05 AM | #22 |
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You have 39k and still have the original tires? That seems impossible to me unless the car has been driven exclusively on the highway. My rears were toast at 11k.
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