In Reply to: Grassroots' deal is the exception, not the rule posted by Ron Man on March 12, 2001 at 16:40:30:
Grassroots got one of those "one-in-a-million" kind of deals... someone knew someone who had the car and GRM "convinced" him it was worth a bit less that what he wanted. You'd think a big-shot
magazine would have more $$ to do their projects with and not have to resort to low-balling tactics, then telling the world how cheap they stole it for.
Just my $.02
I agree. That M3 would have cost $9500-$10,000 if the owner didn't need the money that soon. Now add the cost of repairs, let alone the upgrades. With most M3s on the market today, no matter what the mileage and condition, you'll spend a total of $13k-$15k for the car, parts, and upgrades to get it how you like it. So if you start with a $7500 car, expect to fork out over $5000 in parts and labor. If you can do all the labor yourself, then you're a little ahead of the game. If you buy a $14k garage queen, you'll have no money for upgrades or possible emergency repairs for a while. Something *always* breaks when you least expect or can't afford it.
I paid $8400 for a 165k mile old Henna M3 (yes, a real Henna car) that needed brakes, windshield, muffler, O2 sensor, control arms, tie-rods, and a myriad of miscellaneous repairs, including oil leaks, chain tensioner rattle, etc. I also need to rebuild the engine within the next 20k miles or so. The transmission needs to be rebuilt, too. Lord only knows if it will need wheel bearings or something else that's a real PITA.
I wish I had offered $8000 and walked away if he didn't take it, but I still got a great car--never tracked, 100% original, dealer maintained (until recently), stacks of receipts. I would have had to replace all that stuff within a year or two if I had bought a $10K-$11k M3.
Look around. If you can't afford to spend $13k over the course of the next few years, you're kinda stuck.