Why do you see so many '97 BMWs for what seems like a good price? One Very good reason- THE WARRANTY JUST EXPIRED. The lease just ended and so did the warranty and the owner is RUNning away from the car. A '97 M3 for $30,000 sounds pretty tempting, those are mean cars. A bank might even loan you the money, but it's hard to make that $550 monthly payment when you just had to pay the unexpected $700 repair bill (and your car is in the shop again, and you can't get to work)...
You may get a great car and a good deal but just understand that you may also have to pay steep repair bills. If you love the car enough you will do it.

 

could it be that bmw suffers from cadillac syndrome? They are overpriced to begin with!!! what does a new m3 go for? like 60000....thats crazy....remember when the 850's were like 90000.....who bought these cars?

 

I forgot. I think it is "Bimmer". "Beemer" is for BMW Motorcycles.

If you are bored. you can always read this from BMWCCA.
http://www.boston-bmwcca.org/reference/bim...mer-beemer.html

I don't think BMW are overpriced. 7 seriers has always been BMW's showcase for new technologies. New technologies comes with price. As we all know, technology depreciate like sky diving. So, it doesn't really surprise me that you can buy these flagship cars for cheap.

BMW always thinks of its owners when it comes to resale value of their cars. unlike say, "Ford". When they discover a cheaper way to produce a particular car. They drop the new car price for that year. That way, not only they save consumer money, if you are buying a new car. also, they screwed up all the resale value of the used car for the same model. That drives used car value lower and lower.

For example: most of the car doesn't keep half of its value 2 or 3 years afterwards. but, BMW 3 seriers keeps about 70% of its original value 2 to 3 years later.

I can give you another example: when I bought mine 94 325i in 94. I got it brand new for $32000 + tax + delivery and other misc stuff. When I sold it in 97 (to insurance), got $26000 + tax + other misc stuff. I had 37K miles on it. Now, let me ask you, where do you lease a car $6000 for 3 years/ 37000 miles. That is $166/1027 miles per month. That is a pretty good deal.

 

I also agree it is the repair costs. After I pay off my S I'm considering an 850 CSI. What was that, $100+K new? And typical prices are only high-30's now. But you have to budget another $300 a month for repairs, some big, some little, for as long as you own the car.

 

I have the opportunity to buy a '94 325is convertible with 24K miles, yes I said 24K miles. It's my girlfriends' parents "toy". Triple black, 5spd, sport package, winter package, all that stuff. Not a scratch or a ding. They took it to the dealer to replace the fog light bulb for chrissakes. It's a damn nice car. I am going to seriously consider it in the spring.

 

In that case, it has nothing to do with the manufacturer.
Expensive mass produced cars simply don't keep any value.
People who buy those cars can afford to buy new ones instead of used one.
The bottom line is that it is still a simple supply and demand curve.
The only demand for used luxury cars are from those who are willing pay near for near luxury price.
So, once the price of 740 drops to the level of around 20k, it keeps its value fairly well.

 

Two words "OVER PRICED"!

 

The reason why is the 7 series and 8 series cars have a lot of problems. I had a customer that had a 850 and the thing just died on Wilsure Blvd for no reason the car had 3500 miles on it and this was the third time the car had to go to the dealer. He sent the car to the dealer with his lawyers card on the dash. Got his money back because of the lemon law. I have heard of simular problems with the 7 series. And watch out for the E34 cars (90-95 5 series) LOTS OF PROBLEMS. The 540 has the transmission that you never have to change the fluid, that is if it stays in the tranny. I have lots of horror stories about this car, stay away. My advise buy an M series car or any 3 series, great car. Of course Richard Mercedes makes great cars too.

 

that's what my wife said, LOL

she said "you see far more *older* mercedes on the road still running good than BMWs"

is she right?

 

Well you know I like the M cars, but other than that MBZ all the way.