I wonder whats wrong with the car besides it saying the car was flooded. Pretty damn cheap for that M3.

http://www.ridesafely.com/inventory....520FOR%2520BMW

 

Other than flooded.

Flooded car could mean fucked up engine, transmission, interior, exterior, electrical, fuel system....you getting my point? Pretty much anything and everything can be affected.

Oh....and the kicker....NO WARRANTY.

 

its bad enough buying a questionably used M series car. but when you KNOW it has been mistreated or has some type of damage, then you know you have to walk away.

i cant be the only person with this philosophy, why do you think the price is so low? nobody wants that headache.

a car is the most depreciating asset (besides boats). why invest 20k in a car that could theoretically require 20k worth of maintenence fixes down the road.

 

Its tough to walk away from a $22k E92 M3...........but you must!!

 

i mean, you could put up little bit of money and drive it around with a fat grin on your face. but it wont last long.

 

this thread really got me thinking...

If the car is fully operational and you could get away with driving it just one year w/o any problems, than you would be spending 20k for 1 year of use. probably not too far off from the amount of $$ the car would depreciate in a year if you had bought it new.

not the most traditional outlook on purchasing a vehicle...but still...

 

You could have that with any normal car you buy used. Salvaged cars are a gamble. My buddy picked one up about 6 years back, a salvaged LS400 1ith 22k on the odo. He got it for 16k. He drove it for near 150k miles 0 issues.

 

Theres no guarantee that anything would go wrong with this M3. Its just a gamble. I would say no just because of the lack of warranty (nobody should buy a BMW out of warranty IMO)....

 

I wouldn't touch it, ever...but if you want to risk it....go for it.

 

Usually salvage by flooding is a direct function of how high the water got in the car. usually the water has to be into the dash for a total. I bought a Misubishi in college that was flooded. I drove it for like 60k and sold it for more than I got it for. But that was a 3k gamble. I wouldn't gamble with 22+k. Many of the problems in the electrical system don't manifest themselves for a while.

 

Better come to the table with $22K cash. The vast majority of banks will not give a loan on a salavage vehicle. To add to that, insurance companies are not keen on salvage cars.

And then when you keep the car for a year and go to sell it...good luck. Buyer would have to have cash again and are very leary of salvage cars.

Car looks pretty hot though.

 

Flooded is all you need to know. I would NEVER buy a water-damaged salvage title, no matter what the price. Then again with me, I'd only get a salvage title if it was theft ONLY. I still have confidence in salvage-title cars, doesn't mean all or even most of them are crap.... but I'm pretty sure a flooded car is as bad as it gets as far as salvage title cars on the road.

 

Salvage cars are really hard to sell regardless of how well they might run. I wouldn't pay 22G for that big of a headache.

 

Complicated German electronics + soaking in water = F A I L

 

worth 22 bucks.

 

It will look real nice in my garage, but that's about it.

 

Yea don't touch a flooded car.
Could this be the car where the guy had to rebuild the engine becuase he blew out the turbo?

 

No

 

could you even register that car? I know that in Canada you cant register the car, it can only be used for parts

 

in this situation, the parts will be ver expensive and harder to come by than your non M BMW. I would pass.

 

/thread

 

Don't spend any more than you are wiling to lose. If you can afford to lose $22K and have nothing to show for it, then fine, it's a good deal. Otherwise, what you are doing is like going to the casino with your life savings. It works out for some people, but for most, they lose their shirts.

 

It's hard to buy a flood car for $22k...My sister acura legend was salvage and I drove it all the way to 220k miles.

 

 

I wouldn't touch it.....Be better off buying a salvage car after it was totaled/rebuilt than flood; with flood problems are completely unexpected and you may experience constant electrical problems.