3 owner 1M

[mfarrzhp]

I've been watching 1Ms for a while hoping they would go down in price eventually when the M2 came out.

I found one locally at a dealership, but it's a 3 owner with 33K miles and spent 3 years in the Northeast. Not great for collectibility, but it still is in great condition.

They are asking $48 and I could probably get them down at least a grand. Should I do it?

[ayao]

I have had a long, tiring day at work and am really looking forward to getting behind the wheel of the 1M today. This is on a car that is half a decade old, which I think says a lot.

[nachob]

3 owner plus a dealership makes me a little nervous. A lot of the history gets lost and dealerships worry me. If it was 3 owners, that wouldn't be as bad in the case of the 1M because a lot of people sold and bought these cars because of the crazy pricing. When my work situation got scary, I sold my first one because I wasn't sure how long the crazy prices would stay high. A lot of people did to. The problem with dealerships is that they recondition them and you don't know who re-painted the bumper or replaced a broken part. Secondly, salesmen abuse the cars. They run them hard cold, then gun the engine for the customers and kill the ignition as the turbos are spinning at 120,000 RPM. They put the cheapest gas they can find and they sit outdoors on the sales floor under the elements for weeks or months. So if it is recently arrived, I would snatch it before it gets abused and get a disclosure as to what work was done for reconditioning. I bought my second 1M with a reconditioned rim, and the paint was falling off as I washed the rim with warm soapy water.

Unfortunately, dealers snatch up 1Ms because they have the cash on-hand and they don't dilly-dally around.

Another thing to keep in mind, is check the ownership history. I knew someone whose car registered two owners and he was the original owner. He leased it and bought it after lease and carfax had it down as two owners. BMW Finacial then the private owner. My second 1M was a "executive" car" that was driven by the sales manager but it was registered in Canada under some weird temporary registration so it looked like it had a new owner every year they renewed registration. On Carfax it appears as 5 owner car now. 3 for the first three years, the second owner and myself.

So, yes it would be better to find a single owner car but at 33K miles, you will be looking at 49-52K for sure. For a couple thousand more, it might have been better taken care of and probably worth it, BUT there are so few single-owner 1Ms and those are the ones that plan to keep it.

So my recommendation as an original 1M owner and one that has purchased a second used 1M is, it depends on how long it has been at the dealer. Find out when it was traded and get it inspected by a BMW dealer you trust. They can pull up the maintenance history.

Now, there is one huuuuuuuuuuuge advantage to a 3 owner 1M. You might be more free to enjoy it! I look now at the M2 and after seeing how it comes optioned in the US, there is really one big thing that makes me want one!

It is not as special as a 1M. The M2 is as much fun probably as 1M but not as special so there is less stress. There is a burden that comes with owning a "collectable" car. Sometimes I wish the 1M wasn't so hard to replace and so special so I could just drive it everywhere, everyday. Some here do and I think that is great, but I am aware of how special it is and it's a burden. So big upside of this car, is that it is no longer top-bar collectible and you can just love it and enjoy it. With great cars comes great responsibility. So do your due diligence and do some soul searching. I know a guy that bought a Ford GT as a collectible and he never drives it.

I hope it's a recent addition to the dealer and not sitting there a long time. Best wishes.

[mfarrzhp]

Thanks. They said it's been there 3 weeks. It's in the showroom and they said it has not been on the road since they got it.

I was pleased to see that it wasn't sitting outside. I had a 135i, and I've had my eye on a 1M for a long time.

[mtl88]

I just sent you a pm.

[nachob]

Originally Posted by mfarrzhp

Thanks. They said it's been there 3 weeks. It's in the showroom and they said it has not been on the road since they got it.

I was pleased to see that it wasn't sitting outside. I had a 135i, and I've had my eye on a 1M for a long time.

That's great news. If you can get it for $46-47 and it's in good shape , move on it. The longer it sits at dealer the higher chance of abuse.

[CarJunkie]

40k miles and 5 years later, I still look forward to every drive.

[etr2016]

3 owners and 33k miles isn't bad for a car that is going to be 6 years old pretty soon. The dealer would actually scare me less because if anything goes wrong with it you at least have a company to go after. I bought a Z4M that had 3 owners, ironically 33k miles, and was being sold at a BMW dealer. 2 weeks after I got it the O2 sensors failed and they covered the cost at $600 (or experience the wrath of my Yelping abilities!). I own a paint depth gauge to evaluate the paint (dealers don't like that by the way). Car checked out fine and I didn't have any other issues with it ever.

The 1M isn't getting any newer and it's in demand - I bet they trade hands more often than not. I took mine in for new tires at the BMW dealer today and you wouldn't believe the crowd it drew. I actually had to tell them to get away and not breathe on it wrong.

Good luck with your decision.

[etr2016]

Also....33k miles doesn't remove it from collectable status. See:

http://enthusiastauto.com/qsearch/?i...orm_display=51

[Mr. Wilson]

can you post or at least PM me the location of the car. I live in southern florida and if the dealership is close (within an hour) I'll check out the car for you .

[buddalun]

Here's a thought: Why not get a PPI done on the car at a shop you trust, prior to purchase?

This should alleviate any worries, especially if the shop is trustworthy and knows 1Ms.

[mfarrzhp]

I appreciate all the replies. I actually went to check the car out. It's in Tampa. I noticed 2 very small scratches but nothing you wouldn't expect on a nice 33K mile car. It's amazing.

I think I'm going to pass unless I can swap my current 335i lease with 9 months left on it. If it was a 1 owner and white I'd probably take the plunge.

I have a feeling I'll be back here in 6 months. Thanks again.

[1&done]

Where in Tampa? Is it the black one at Reeves BMW?

[Dee Pee]

[mfarrzhp]

Originally Posted by 1&done

Where in Tampa? Is it the black one at Reeves BMW?

Yeah. Reeves.

[M3 Adjuster]

Originally Posted by mfarrzhp

Yeah. Reeves.

Oooh , black is the rarest...

[CarJunkie]

Go get it! You know you want it!
If you wake up thinking about it tomorrow morning, the decision is made.

[ShocknAwe]

From one 135i owner to another, go get it checked out. I'd be hard pressed not to drive it over to my buddy to do a PPI on if one were to show up local.

[blackmist222777]

do iT! multiple owners isnt a bad thing. these cars were noted as collectables from day1. so lots of people bought and sold the quickly to make an easy buck. as long as maintenance is done and the title is clean, you should be good.