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1990 M3 Purchase Advice*UPDATE*
Posted: Fri Jul 04, 2014 2:27 am
by Split_S
For some reason Im considering buying a 1990 e30 M3. Six PO's, pretty good history, all original everything. Overall very clean, a little rust on the scuttle and on one door frame. Car has 164 000km, engine never rebuilt. Owner willing to sell for 13500$ pounds.
I have a 1991 318iS Im rebuilding and will finish and keep no matter what, a 2005 BMW 320i, very clean, which I will have to sell to help pay for the M3.
Should I buy it?? Is it too pricey? Advice?
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 2:33 am
by bmwbmwbmw
nice nice, get it
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 7:57 am
by ross_jsy
I don't know what the market is like where you are but that sounds cheap. I wouldn't count on that being the only rust though
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 7:58 am
by seanboy
Canadian Dollars?
Works out to about £7.5k right.
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 9:30 am
by Russp92
That's cheap I'm moving to Canada anyone eles going
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 12:09 pm
by Split_S
No it works out to 24000$ cdn. Add taxes and its near 27000. So near 15000 pounds (sorry no brit currency symbol on my computer!)
The thing that bothers me is how it will affect the rebuild of my 318iS. I dont want to lose passion for that car or project. That and my wife wants to kill me.
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 12:18 pm
by daimlerman
Split_S wrote: That and my wife wants to kill me.
They sometimes just do not understand 'boys and their toys'!
Try a handbag/shoe count,compared to the number of arms/feet that she has....
In UK terms,that value is about middle of the road,I would want a sound shell above all else,as the oily bis are 'nut and bolt' replacement.
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 1:13 pm
by Gavla
Sell the 318is as a project and spend the money fixing up the M3...
Posted: Fri Jul 04, 2014 1:16 pm
by Split_S
...
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 1:29 pm
by bss325i
daimlerman wrote:Split_S wrote: That and my wife wants to kill me.
They sometimes just do not understand 'boys and their toys'!
Try a handbag/shoe count,compared to the number of arms/feet that she has....
In UK terms,that value is about middle of the road,I would want a sound shell above all else,as the oily bis are 'nut and bolt' replacement.
In UK terms that value is close to a bottom of the barrel for a complete car!
By the sounds and looks of things from the pics its certainly no bottom of the barrel car.
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 1:33 pm
by Gert_8
I wouldn't bother with that - you've already got yourself a "baby M3". Stick with it and see the project through. It will keep the wife happy too.
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 4:08 pm
by Grrrmachine
That is nice, but you will need the wing off and the windscreen out to deal with that rust, which means it'll be a project. And I wouldn't advise taking on more than one project at a time, as you won't finish all of them.
Saying that, a 318iS will never have the value of an M3, so buying this one even just to sit on it for a year should be a nice little earner. If you can afford it, get it bought.
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 4:43 pm
by beemerbird
Replacement wives can be easily sourced. Decent M3s are rare beasts.
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 5:43 pm
by jonny323i
[quote="beemerbird"]Replacement wives can be easily sourced. Decent M3s are rare beasts.
[/quote
You hit the nail on the head
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 6:47 pm
by bmandy68
Buy the m3 mate and get rid of the 318 is.
Re: 1990 M3 Purchase Advice
Posted: Fri Jul 04, 2014 7:18 pm
by shedrool83
Sell the i.s ,buy the M3 and sort the issues and you'll be a happy man and i'll be a jealous one.
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 1:26 am
by Split_S
Thanks for the input but I've decided NOT to buy it.
The 318iS is completely stripped, parts are already bought and Im loving the rebuild. Some of you guys are even reading my resto thread...
In the end, the M3 is something I really really really want...
And I realized if I bought it - well, what would I have to lust after?
How could I be enthused about rebuilding my 318iS while I had an M3 in the garage?
So my 91 318iS, the "baby M3" will do just fine...
Besides, my wife is hot and I don't want to have to "source" another one!
Good one beemerbird!!
Cheers!
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 1:37 am
by daimlerman
Hummm,
Petticoat government wins,again!
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 7:29 am
by Gert_8
daimlerman wrote:Hummm,
Petticoat government wins,again!
You recognise it from your own position, no doubt.
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 9:40 am
by M3888
M3 all the way
does not seem dear
wife will cost more over the years
wife will loose you money M3 wontand will always put a smile on your face!
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 11:20 am
by ross_jsy
Bet you will regret not buying that in a few months
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 11:34 am
by Sanchez
If u have a wish to buy an m3 and at that price a good one then buy it if the funds aren't needed. M3 will always hold a value.
2 projects can be a lot of work, factors depending but use it a bit, work on the 318is, treat the rusty bits as you go. Etc etc
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 12:10 pm
by Mitchen
This guys gonna be kicking himself in a year or so.
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 1:48 pm
by Split_S
Steak is yummy...
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 1:54 pm
by ross_jsy
Optimistic about both the prices and the market crash I feel but time will tell
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 2:45 pm
by daimlerman
Split_S wrote:Why won't I buy it?
My view is that prices have pretty much peaked. Why? Because WE are the people who buy these cars. All the millionaires who care have their low mile mint examples. US guys cant afford 60 000 USD for an old M3. We may be able to afford 20-30 USD but not without compromise.
I have a 318iS shell in my garage - I need to finish it. To do so will require easily 1000+ hours of work. With the m3 it will simply never get done.
I will wait a few years till the next market crash when everyone is panicking and pick up a very nice one at a better price. And I will post it here and everyone will salivate....
Till then Im just a smuck with a 318iS...
People here in the UK said the same regarding Ford Escort prices.
There is still no indication that they are falling,the opposite is much nearer the truth,I'm afraid.
I guess that you will have to settle for 'just' the iS,and let the dream of owning an M3 or a 'cute' 'er indoors nag for a while longer!
M3 will still look the same in 20 years.....
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 4:58 pm
by Split_S
Honestly, its killing me...
But as much as it hurts, its the right thing to do...at 24000$ cdn, Add taxes, inspection required and its 30000$ cdn or about 17000 in funny UK money... Add $$ to fix the rust and an engine that at 100000miles is not far from a rebuild and its becoming a very expensive proposition. Plus I still have about 10-15000$ to spend in order to finish the 318iS. So while I can afford to buy it I think it would be much wiser to wait till the 318iS is finished and try to find one then. This M3 is convenient because its in Canada, about a 5hr drive away...and its a beauty I'll admit...
Ford Escorts must have been different over there, here they are LONG gone and they were true pieces of sh*t...ugly as hell too...
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 5:17 pm
by bss325i
The ford escorts we got in the UK have legendary status and are nothing like the scrap the North American market got. Thankfully.
P.s, you're mad to turd down a solid looking m3 and spunk money on a 318iS which is half the car and about 10% the value.
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 5:26 pm
by Split_S
bss325i wrote:P.s, you're mad to turd down a solid looking m3 and spunk money on a 318iS which is half the car and about 10% the value.
Yes, but its the one I have...
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 5:37 pm
by ross_jsy
Why would it need an engine rebuild at 100,000 miles unless it's been raped?
No offence, you are doing a very good job at restoring it, but your iS is a proper crusty turd and will never really be worth much. If you ever were serious about buying the m3, you should get it bought, chuck the iS back together and sell it. You then only have the 1 project that is actually worth something, and without knowing the ins and outs of your finances, some more cash to put into the m3. Get that scuttle sorted and you have a nice car. It doesn't matter if it sits in your garage for 10 years while you save to do work, you are never going to lose money
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 6:03 pm
by M3888
ross_jsy wrote:Why would it need an engine rebuild at 100,000 miles unless it's been raped?
No offence, you are doing a very good job at restoring it, but your iS is a proper crusty turd and will never really be worth much. If you ever were serious about buying the m3, you should get it bought, chuck the iS back together and sell it. You then only have the 1 project that is actually worth something, and without knowing the ins and outs of your finances, some more cash to put into the m3. Get that scuttle sorted and you have a nice car. It doesn't matter if it sits in your garage for 10 years while you save to do work, you are never going to lose money
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 6:04 pm
by M3888
U will never regret owning an M 3
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 6:14 pm
by Split_S
ross_jsy wrote:Why would it need an engine rebuild at 100,000 miles unless it's been raped?
No offence, you are doing a very good job at restoring it, but your iS is a proper crusty turd and will never really be worth much. If you ever were serious about buying the m3, you should get it bought, chuck the iS back together and sell it. You then only have the 1 project that is actually worth something, and without knowing the ins and outs of your finances, some more cash to put into the m3. Get that scuttle sorted and you have a nice car. It doesn't matter if it sits in your garage for 10 years while you save to do work, you are never going to lose money
You are right. Absolutely agree.
You are also right about the iS's value but that is a moot point as I don't want to sell it. The fact is Im stuck with it as its in pieces - no one would ever buy it. Once its done Id be nuts to sell it as my loss would be stupid. So its a keeper, like most restoration projects are.
Aaaarrrggg...you guys have me rethinking this whole thing!!!
I already emailed the owner to say no.. I will look like a proper ass if I change my mind now...
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 6:23 pm
by Grrrmachine
"I was going to buy the first car in my life that will actually go up in value over time, but I didn't contact the seller because I didn't want to look like an ass".
Give it up fellas, this guy's a lost cause.
Re: 1990 M3 Purchase Advice
Posted: Sat Jul 05, 2014 6:25 pm
by Split_S
Ouch...