120k 1M, would you buy and for how much?

[ocd]

Looking for some opinions...

I came across an interesting deal. 2011 VO 1M 120k miles. One owner, no accidents, and very clean. It easily shows like 1/2 the miles, but no service records (on carfax) since 2012. It's probably the cheapest clean title 1M around that will probably sell for $33-35k. Would you buy? What's it worth? Is there value left in it?

[nachob]

If you use it as a sunday car. Eventually miles will become normal. It would be w nice way to get a 1M and use it the way
Most of us do which is weekends. It's probably highway miles which won't impact it as much but still a
Pair of turbos could set you back $6k or fuel pump $1500 k. If you plan to drive it as daily driver might be bit high. But original owner car, buying it from owner pretty cool.

[CarJunkie]

I plan to still have mine when the miles get that high.

It has to be a lot of highway. Do you have a good shop that can inspect it for you?

Even if recommended maintenance is up to date, at that mileage it could probably use shocks. It may also benefit from plugs, coils and water pump. Have the intake valves looked at and cleaned if there is a lot of coking.

[ayao]

Reminds me of this car:
http://www.1addicts.com/forums/showthread.php?t=1259290

[GimmeanM]

If the price was right and didn't have a lot of money to spend on the car I absolutely would; knowing that having not paid for a 50-60k car I would be more than happy to do whatever maintenance is required to have it preform and DRIVE like a car of much lower mileage. The experience of how the car feels to drive would be worth it to me.

[GimmeanM]

Originally Posted by ayao

Reminds me of this car:
http://www.1addicts.com/forums/showthread.php?t=1259290

Hehe. I actually was in contact with him about that car for a buddy. Seller was not the best at communicating and we never heard back.

[ocd]

Thanks for your input. I'm not so much worried about the mechanicals, and the condition is excellent for the miles. I'm concerned with the value if/when I have to resell...there's the rub.

[CarJunkie]

This car is unique for sure, as is its value, but depreciation per mile USUALLY decreases as miles increase. So you should see less depreciation over the next 50k miles than you would on a car with only 50k to start with.

Buy it to drive it, not to sell it!

[M3 Adjuster]

Originally Posted by ocd

Thanks for your input. I'm not so much worried about the mechanicals, and the condition is excellent for the miles. I'm concerned with the value if/when I have to resell...there's the rub.

it's a 1M.. and only 740 were made... Exactly WHEN do you expect the " bottom to fall out " of the value.... ? (apparently it will happen the exact moment you put it up for sale? )

I don't expect it to *ever* happen since the values didn't drop when the M2 came out (and oh haven't we heard how the 1M would be worth " nothing" when the M2 comes out..

The 1M is one of the last cars from BMW with manual steering and no auto rev match.
It's also one of the first cars from BMW that is a turbo M car.
It's solidified it's place in the annals of " M" history already because of these factors..

For the closest reference..

See E30 M3 high mileage used vehicle prices... and note that over 5000 of that model came to the US.

Also see.. E36 M3 LTWT
Also see S52 powered Z3 and S54 powered Z4 M and see how those low volume vehicles are holding their value.

I have friends that own S54 powered Z4Ms for the last 2-4 years and values have gone UP during their ownership..

[gds52]

The price is too high for this high mileage car. You will need to spend a lot on maintenance.
I will not pay anything more than $20k, rarity only matters if it's a low mileage car.
For $33-35k you can get other low mileage options. Don't get emotional when buying a used car
I just bought a 2007 Z4M coupe with 9k miles, when i was
Looking for it I came across many high priced cars with higher mileage because this car is also rare(1800 sold in US). I still see those cars listed on sale.

[rad doc]

Originally Posted by gds52

The price is too high for this high mileage car. You will need to spend a lot on maintenance.
I will not pay anything more than $20k, rarity only matters if it's a low mileage car.
For $33-35k you can get other low mileage options. Don't get emotional when buying a used car
I just bought a 2007 Z4M coupe with 9k miles, when i was
Looking for it I came across many high priced cars with higher mileage because this car is also rare(1800 sold in US). I still see those cars listed on sale.

20k? Ha ha!! Good luck with that. I disagree the car will need a lot of maintenance. Nothing crazy if properly maintained. Mine is at 76k and is still amazing. Absolute blast and nothing else close for the money.

[CarJunkie]

Originally Posted by gds52

I will not pay anything more than $20k . . .

That's why you won't have one.

[gds52]

Originally Posted by CarJunkie

That's why you won't have one.

Subjective sarcasm, but yes that's true.

[NPVPositive]

Originally Posted by M3 Adjuster

it's a 1M.. and only 740 were made

Uh, no. Only 740 were sold in the US, 6,309 were manufactured and sold worldwide.

It's just not that rare a car. I love my 1M, but I certainly don't delude myself that it's a highly collectable Porsche 911 R or even a Ferrari Dino.

[GimmeanM]

Originally Posted by NPVPositive

Uh, no. Only 740 were sold in the US, 6,309 were sold worldwide.

It's just not that rare a car. I love my 1M, but I certainly don't delude myself that it's a highly collectable Porsche 911 R or even a Ferrari Dino.

Comparing apples and oranges. When there are 225,000 135 produced in 2012, making only 6,309 1M's is limited production. And comparing the value?...what other car in recent history has also seen no depreciation?

[M3 Adjuster]

Originally Posted by NPVPositive

Uh, no. Only 740 were sold in the US, 6,309 were manufactured and sold worldwide.

It's just not that rare a car. I love my 1M, but I certainly don't delude myself that it's a highly collectable Porsche 911 R or even a Ferrari Dino.

Ferrari Dino? Come back in off the ledge sir ..

I think you need to recalibrate...

I decided to quickly google search for " vehicles with low production numbers " and came up with this immediately.

An interesting collection of cars for sure ..

http://www.cheatsheet.com/stocks/9-a...tml/?a=viewall


Whether or not *you* think the 1M is rare or not .. that's your folly.

The rest of the world knows that it's rare, particularly so as far as BMWs go.

And not only rare, unlike your Ferrari Dino and 911R comparisons, the 1M is still somewhat affordable, it's not a $200,000+ car ...

The E30 M3 isn't ultra " rare " with 19,700 copies made worldwide ... but it sure does have a helluva following and there were 3X as many made as 1M .... the reason it's simply white hot in the used market now likely also has to do with the fact that it's an affordable icon...

[etr2016]

Another reason I think the E30 is hot is because it's simple. Car enthusiasts will always be drawn to cars without a lot of unnecessary features. No blind spot monitoring, navi, etc. I was considering the M2, but then learned of all of its nanny features and figured the 1M would make for a better long term hold. I was really trying to get an E46 competition in black with the sunroof delete but apparently that's pretty hard to do...

It'll be interesting to see how the car market is in ten years when nobody is making manual transmissions. Will that drive up the value even more of true enthusiast vehicles?

[rad doc]

Originally Posted by M3 Adjuster

Ferrari Dino? Come back in off the ledge sir ..

I think you need to recalibrate...

I decided to quickly google search for " vehicles with low production numbers " and came up with this immediately.

An interesting collection of cars for sure ..

http://www.cheatsheet.com/stocks/9-a...tml/?a=viewall


Whether or not *you* think the 1M is rare or not .. that's your folly.

The rest of the world knows that it's rare, particularly so as far as BMWs go.

And not only rare, unlike your Ferrari Dino and 911R comparisons, the 1M is still somewhat affordable, it's not a $200,000+ car ...

The E30 M3 isn't ultra " rare " with 19,700 copies made worldwide ... but it sure does have a helluva following and there were 3X as many made as 1M .... the reason it's simply white hot in the used market now likely also has to do with the fact that it's an affordable icon...

Not to mention there were actually 4000 Dino's produced! Pretty close. Really bad example!

[Gangplank]

Originally Posted by M3 Adjuster

Ferrari Dino? Come back in off the ledge sir ..

I think you need to recalibrate...

I decided to quickly google search for " vehicles with low production numbers " and came up with this immediately.

An interesting collection of cars for sure ..

http://www.cheatsheet.com/stocks/9-a...tml/?a=viewall


Whether or not *you* think the 1M is rare or not .. that's your folly.

The rest of the world knows that it's rare, particularly so as far as BMWs go.

And not only rare, unlike your Ferrari Dino and 911R comparisons, the 1M is still somewhat affordable, it's not a $200,000+ car ...

The E30 M3 isn't ultra " rare " with 19,700 copies made worldwide ... but it sure does have a helluva following and there were 3X as many made as 1M .... the reason it's simply white hot in the used market now likely also has to do with the fact that it's an affordable icon...

I agree on this front. Here is an interesting list.

http://www.caranddriver.com/flipbook...ome-classics#1

[NPVPositive]

Maybe I have a distorted view because I live in Australia. Here we received a relatively large number of 1Ms (301) for a very small market (23 million people). BMW gouged us on the pricing (about US$75,000) and dealers struggled to sell them all. There are still always 10-15 cars available on the used car market, and they typically sell for 60% of original retail.

Still, I stand by my comment that the 1M will never be a Dino or 911R from a collecting POV. And again, I'm not trolling, and I love my 1M. But for some reason the classic car market has never put the same value on "special" BMWs as it does on Ferrari, Porsche, etc. We're in the middle of the greatest car collecting boom the world has even seen— a bubble, many say— and yet an E28 M5 (only 2,191 made and truly one of the great BMWs) can be had for less than $50k. Even a Z8 is only a $170k proposition and it cost $130,000 new! I guess the most collectable BMW of all is probably the 1973 3.0 CSL "Batmobile"? (http://www.supercars.net/blog/1973-bmw-3-0-csl/) This was a homologated special edition for racing in the European Touring Car Championship, just 1,250 built and a direct competitor to Porsche's 1973 2.7 RS. Apart from a few outliers, they sell for $150k - $200k. An absolute bargain compared with the Porsche 2.7 RS where $1m plus price tags are now common, especially for one of the first 500 cars.

BTW, bit of cool BMW trivia: when sold from new, the CSL wasn’t fitted with the the rear wing or the chrome flares because they were illegal for road use in Germany. Instead they were included in the trunk of the car to be optionally fitted by the dealer or the car’s owner.

[M3 Adjuster]

Originally Posted by Gangplank

I agree on this front. Here is an interesting list.

http://www.caranddriver.com/flipbook...ome-classics#1

ha! the 1M is the first on the list.. Ford Raptor came out at the same time and also is on the list.

[M3 Adjuster]

Originally Posted by NPVPositive

Maybe I have a distorted view because I live in Australia. .

well no wonder.. you're all upside down !

I hope to visit AUSTRALIA some day with my girl who just became an American citizen but retains her home country status also.

Indeed... the Australian Market and I believe also the British market received enough cars that it's not quite as rare as some other countries like the USA where we got 740 for 250 million.. Ten times the population but only about two-three times as much product.