Guidance needed from you guys on wrecked 135i w/ 8 previous owners

[J. Dub]

Came across a 135i with 55,341 miles. Has all the options and is a 2009. Even has backup sensors.

I have driven the car and it was solid. Checked all electrical switches, dials, buttons, etc... EVERYTHING works as it should.

Problem is it's been in a previous rear end accident. No air bags deployed and the driver drove home after the accident. So probably a parking lot accident I'm sure.

The next problem is California with their EXTREME buy back lemon policy had a lemon on this car due to the high pressure fuel pump issues back in the day.


Now my question to you. What should I offer the seller? The price he is asking is already low. He's asking $18k for it. It's a local car I found on craigslist and he's been up front with everything.

I also had it checked out by the dealership local to he and I and the dealership said the frame is good despite the wreck and everything checks out.

My fear is when it comes time for ME to sell it I worry I won't be able to. Due to 8 previous owners, a buyback lemon history, and a rear end accident on carfax.

Thoughts?

Would it be mean of me to offer him $15k?

P.S. He purchased a third party 6 year 100,000 warranty from the dealer he bought it from. So there is still 5 years left on the warranty as he bought the car July last year.

Thank you for your input. Also, he advised me the dealerships he tried to trade the car into only offered him $7k which I agree is pathetic.

[lowbudgethero]

I would take a look at it in person, talk to him then give him your offer. He will probably be less likely to blow you off.

[J. Dub]

Originally Posted by lowbudgethero

I would take a look at it in person, talk to him then give him your offer. He will probably be less likely to blow you off.

I've driven it. It's solid

[drunkenup]

worst he could say is no.. you'd be doing really well even if you took it for 17k imo.

[J. Dub]

Originally Posted by drunkenup

worst he could say is no.. you'd be doing really well even if you took it for 17k imo.

ok, thanks for the input. Much appreciated.

[champignon]

It all depends on whether you intend to keep the car or expect to recoup something when you resell. If you see this as a short term car for you, then expect to experience the same thing as the unfortunate seller is now experiencing, just it will be you doing the "experiencing."

At some point in a car's life people do start putting less importance on things like prior accidents and how many owners, but the car will probably need to have more than 100,000 miles on it and be worth less than $10K before this happens.

If you do think you might resell in the short to intermediate term, remember that even if the value going in was low, you are going to have a problem finding a buyer at any price, so it is going to take some time to get out of this car later even if you ask a very low asking price for it.

[J. Dub]

Originally Posted by champignon

It all depends on whether you intend to keep the car or expect to recoup something when you resell. If you see this as a short term car for you, then expect to experience the same thing as the unfortunate seller is now experiencing, just it will be you doing the "experiencing."

At some point in a car's life people do start putting less importance on things like prior accidents and how many owners, but the car will probably need to have more than 100,000 miles on it and be worth less than $10K before this happens.

If you do think you might resell in the short to intermediate term, remember that even if the value going in was low, you are going to have a problem finding a buyer at any price, so it is going to take some time to get out of this car later even if you ask a very low asking price for it.

Thank you, I agree

[ShocknAwe]

Was accident damage repaired at BMW Collision?

IF so, it doesn't really weigh in on value, it was repaired properly to factory specs. If not, absolutely fair to offer $15k.

Offer up, worst they can say is no. If they say no, go halfway between $15k and asking price and try again. Haggling 101.

[J. Dub]

Originally Posted by ShocknAwe

Was accident damage repaired at BMW Collision?

IF so, it doesn't really weigh in on value, it was repaired properly to factory specs. If not, absolutely fair to offer $15k.

Offer up, worst they can say is no. If they say no, go halfway between $15k and asking price and try again. Haggling 101.

I'm assuming so. We don't actually know as the seller bought the car knowing it was wrecked.

I looked under and on the rear of the car. It's metallic silver paint and it's perfectly painted. So someone did a good job back there.

[IEDEI]

SKIP.

buy a better car.

an 8 owner car is a whore of a ride....the money you save now will cost you later.

[The Wind Breezes]

Don't assume anything about this car. It's not even a great price, and I certainly wouldn't buy it after knowing it has:

--8 owners
--wrecked
--lemon car

Seriously, I read your title and and thought "what guidance? run the hell away from that car"

[champignon]

Originally Posted by IEDEI

SKIP.

buy a better car.

an 8 owner car is a whore of a ride....the money you save now will cost you later.

For a car of this age, I totally agree.

If you are talking a vintage car from 15 or more years ago, that number of owners, while large, doesn't stick out that far. There are a lot of "collector cars" (which this ISN'T) that attract people who essentially want to "rent" it, and since you can't really "rent" one, the next best thing is to buy it and then unload it in 4 or 6 or 12 months to the next "renter."

[J. Dub]

These were my concerns but I still couldn't find anything wrong with it after taking it to a bmw mechanic.
I am suppose to meet with the owner, again, today to discuss the car and pricing.
If he accepts $15k I'll take the gamble. If not, I'll be back on the market for something else.

[Mr Rooty Von Tooty]

A used car is always a mystery, and it only gets solved once you own it.

If you have just one major repair say engine or transmission, the cost will negate the bargain price you think you paid for the car. In any case, the car you are describing should only be bought by an individual with the technical and mechanical skills to repair it.

You might also consider that it has had 8 previous owners. That in itself should tell you something. Why didn't one of them like the car well enough to hang onto it?

I should also mention that I buy and sell collectible vehicles, so I've had a lot of experience over the years with all kinds of old iron.

In any case, I always tell people to buy the latest edition of any particular car they want. For the One, the number of improvements over the years makes this a wise choice.

[tock172]

I wouldn't touch a car like that with a 10 ft. pole. You are asking for trouble. The 8 previous owners would be enough for me to steer clear.

Do you have any real information on the accident the car was in? The title says it was wrecked but in your post, you say it was a minor rear-end collision? Does the car bear a salvage title?

Regardless, I wouldn't touch it. In fact, I wouldn't buy a BMW newer than 2006 without a warranty.

[IEDEI]

Originally Posted by J. Dub

These were my concerns but I still couldn't find anything wrong with it after taking it to a bmw mechanic.
I am suppose to meet with the owner, again, today to discuss the car and pricing.
If he accepts $15k I'll take the gamble. If not, I'll be back on the market for something else.

i wouldn't care what a mechanic says....or how it felt.

it has 8 OWNERS. on a 7 year old car. NO WAY! Worst $15k you will ever spend, IMO.

[swagon]

8 fucking owners?! How's this possible on such a young car?!

Someone enlighten me, please.

No way everyone of them would sell it after a year because of (probable) issues.

[champignon]

I would look at the Carfax and possibly Autocheck very carefully.

The number of calculated owners when there is more than 1 or 2 is more often than not incorrect. I am not saying that if it has had 6 or 7 owners that it just became OK.

What I am saying is that frequently when one moves to a new location, or the car is re-registered by the same person, or if the owners get divorced and one of them takes the car, or several other very common scenarios not actually representing a change of ownership, that the robots at Carfax et al add on "new owners" where in fact there aren't any.

Could be the car has really had 2 or 3 owners. 8 owners for a non collectible car like this, in such a short period, basically requires a suspense of disbelief, unless the car is really a total piece of shit, which it may well be.

[drewster99]

8 owners.... pass.

[Tuxedo]

If you take a car to the auction with a buy-back title it many times goes thru a special lane along with the other bad title cars like flood title, miles unknown, no title from theft recovery etc. Although 7k seems low 18k is crazy compared to what it would sell at auction. 8 owners says buyer beware louder then anything I'd ever heard, find out wholesale and expect to pay within $2500 of that and maybe a smidgen more for the transfer of remainder warranty.

If your the 9th owner and this car goes on the market, whats that thread gonna sound off at the potential 10th owners thread? Answer may not get paid to take it but how close?

[champignon]

But we are all secretly hoping you will buy it and report back to us a few months to tell us how it all went down :-)

[TwinTurboXI]

run