RE: The cost of having an M3 in the States...

[Peter Cain <cain@xxxxxxxxxxxxx>]

> Date: Thu, 21 Sep 2000 13:23:06 GMT
> From: "Thomas Petersen" <bmw318is92@domain.elided>
> Subject: The cost of having a car in the States...
>
> Going to the States would be a one in a lifetime opportunity to actually own
> a M3, in Denmark the price tag on that one would be approx. 125000 US$,
> which is a bit out of my league...

I can say as a Canadian resident that anywhere in North America will be a lot
less expensive for M3s than Denmark. At about US$46,000, the E46 M3 with 330 hp
will be the bargain of the century for a performance car. There are already long
waiting lists at BMW dealers. You can bid on the few waiting spots that are
offered in auctions on eBay (www.ebay.com), which are selling in the $2-4,000
range. Or you can go for a used E36 M3, of which there are many for sale, partly
because of the E46 M3. To get an idea about E36 M3 values keep an eye on the
auctions on eBay. About 80% of M3s on auction did not sell on eBay this summer
because the reserves were set too high. When they sold, '95 M3s sold in the
$20,000 range, '97s sold in the $26-27,,000 range, and '98s a bit over $30,000,
making them very affordable. Many of these were dealer cars, suggesting that they
were not selling very well locally. All this seems to say that these prices are a
reasonable indication of the value and actual sale prices of these vehicles on
the open market. Of course, there will be some higher prices realized by dealers
who will sell a cream puff to someone with the available $$ who doesn't want to
bother with eBay hassles.  Beware of people telling you that the "book value" of
their car is $10,000 higher than the numbers above. The "book value" may be that
high, but the actual real-world selling price should be a lot lower. A '95 M3 is
a great car, but a 6-year-old M3 with 60,000+ miles isn't worth 85% of what the
original owner paid for it anymore.

> Also, is it possible to buy a european M3 with 321HP in the states ? And
> what's the reason for the US M3 to be different from the european?

No Euro M3 with 321 hp was ever sold in North America by a dealer, including in
Canada. As someone else on the list said, there were 45 Euro M3s sold in Canada
in the '94 model year, but unlike what was said about them, those cars did not
have 386 hp. All 45 cars had 3.0 liter engines and 286 hp, and those were genuine
Euro engines. I have confirmed this because I have the data sheets indicating the
specifications of these cars. One of these Euro M3s is for sale in Canada right
now for about $48,000 Canadian dollars (about US$32,214 at today's sorry rate for
the Canadian dollar). I suspect that this car would not be importable into the US
since it was never certified for sale there, but I am not sure about this.

Thomas, if I were you, I would look for the best M3 I could afford and buy it.
You will never have more fun per dollar in your life.

Peter Cain
London, Ontario

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