Buying a '97 318ti...good price?

[97_ti]

Hello all:

I've decided to buy a 1997 318ti that I test drove on Saturday.

Car is a base 318ti with steel wheels, 5-speed, black with gray cloth interior.

Equipment: power sunroof, keyless entry with alarm, power mirrors, power windows, rear window wiper, traction control, A/C, power brakes, power steering, dual front air bags/active belts, AM/FM Cassette w/6-disc CD changer, 4 wheel anti-lock brakes.

Car is very clean in/out and has brand new Pirelli tires and new rear brakes/rotors. Mileage is 94,xxx.

Car runs like a top and feels tight as a drum. No strange noises or feeling when you drive it. Car feels great on the road, transmission is smooth and the clutch feels good.

Dealer advertised the car at $6,500 and ultimately offered it to me for $5,800. Very reputable dealer with an excellent reputation.

I think I'm making a good deal. Thoughts?

[weezer]

Grab It!!! Dealer would've probably checked out your car inside and out, not wanting to get bad reputation for selling a lemon. But ask for A CarFax report and see the history. That price is very good for that year with those mileage.
I always try to make a good deal for myself by saying:
"I will give you $6k if it includes, taxes, title, service charge admin. fee, etc"
This way you walk away without the additional costs of fees, taxes on top of the $5800.
Good Luck!!

[97_ti]

Thanks, weezer - I thought it was a good deal.

Dealer showed me both the carfax and the BMW history report and everything came up clean. He claims to have gone through the car and checked everything over, and did in fact install new rear pads/rotors.

I believe that the previous owner replaced the tires shortly before trading it in on a new BMW - they are fresh.

I'm actually buying the car from another state so the tax is not negotiable. The dealer is loaning me a dealer plate to drive it home upon proof of insurance and I'll have to pay the tax on the purchase when I register the car. Oh well. I should be around $6,300 with tax and registration, so I'm still happy with the deal.

Thanks again for your reply.

[oneandonlymissm]

That's a hell of a lot less than I paid for mine and I grinded the guy at the dealership.
Dealerships are more selective.

[1996 328ti]

Lower the windows and be sure the door panels do not bulge.
Take a close look at the headliner. Particularly near the rear overhead light and above the door. Then get yourself some 5 spoke wheels. Steel wheels are for snow tires.

[tastade]

Dealers are no more selective on their cars, they typically just charge more. This is a generalization, as it doesn't apply to every dealer. Typically you will find the best deal from a private party.

A private party knows they won't get much for their car from a dealer, so they sell it themselves for just a little more than dealer trade. If they do trade it in, the dealer will pay them less than the trade in value, do nothing to very little to the car and resell it at retail.

The main benefit to buy from a private party is that they know the history of the car, a Carfax or history report can be wrong and misleading. At least if I can talk to the owner face to face I can ask them questions and judge if they are lying or not about the condition.

I don't mean to bash dealers, many are very good and honest, but many are not. Some have better prices than others. Ideally, you can find a dealer that wants to sell cars quickly and prices them accordingly. The car you are looking at sounds like an okay deal, what you would expect to pay from the dealer.

Edmunds list the price for a base model at 3600 for trade, 4500 for private party and 5300 for dealer retail. I would consider trying to talk them down to 5300. However, these cars do have a higher demand, so it is easier for the dealer to ask retail or more. Remember that a 1997 is 10 years old. I over-paid for mine slightly, but it was exactly what I wanted. I think I paid 7500 for an 8 year old (at the time) club sport in similar condition from a dealer (this was retail at the time). You aren't getting taken for that price (the 6500 maybe), but it isn't a steal either.

http://www.edmunds.com/used/1997/bmw/3series/643/options.html?tmvaction=vdpresult

[Ken]

Get a PPI before you do anything, especially if it's out of state. If something is wrong with it when you get it home, believe me when I say it's a pain in the ass to go back out of state to get any issues fixed (assuming they'd even be willing).

Find an independent BMW Mechanic or a local shop with a good reputation (which you can research online), before you sign anything!

The car might look clean and drive okay, but don't trust that the dealer has done much of anything. Make sure someone besides the guy trying to make a buck from you has gone over it and can confirm what this guy has said.

Being that it's a base model, you might be able to talk him down some more as well, the base models I've seen on autotrader (without really truly knowing the history) have been less than 6500.. more in the 5-5500 range.

[rhombus]

Ken, can you explain what a PPI is?

[Ken]

PPI is a Pre Purchase Inspection. It's essentially a once over by a qualified mechanic to check for any problems that you should be aware of before purchasing a vehicle from anyone, whether they're a dealer or private seller.

While you might feel a dealer is trustworthy and they've assured you that there's nothing wrong with it, they've given it a once over, etc, remember they're still trying to sell the car in order to make money.

Now, there's plenty of good dealers who wont hide stuff, but some do. And unless you have a personal relationship with the individual going back several years, IMO it's a smart move to make sure all your i's are dotted and t's are crossed. Spending $150 or so is a small price to pay when compared with what could be potentially wrong with a car.

I'd also suggest you call your nearest BMW dealer and get them to fax you copy of any repair work done while the car was under warranty. They should have 0 problems with faxing you that information, if they do, call another dealer in another area, or in another area. Just ask for someone in service, tell them you're buying a used car, you have the VIN, and would like to have warranty maint records faxed to you.

Also, when you get the car fax you should be able to get the title number and city where it was registered. You can look up BMW dealership / repair shops in the area and ask if they have any maintenance records beyond [whatever year the warranty records stop].. and even the DMV in those areas if the title number is listed in the area and make sure no incidents were reported that aren't listed on the Carfax.

It's unlikely the dealer knows the full history of the vehicle unless it's a 1 owner car.

Hope these are useful, I learned quite a bit during the process (and aftermath) of purchasing mine.

[TheFlyingScotsman]

Im from Scotland. I have just bought one and im picking it up today! woohoo! Anyway, mine has only had 1 owner and has a Full BMW Service History and has only covered 70k miles. Absolutely mint! Tax, MOT and serviced and i paid...£2800! which works out at $5516.56 US Dollers!
Oh and she is white!