Quick question, Buying a 1993 BMW 318is?

Question

Is $3,000 CAD too much for this car?

328,000 km about 203,000 miles i believe

Answer 1

Really depends on what sort of shape the car is in.

However I have seen many older BMW's sold for about this price, so I'd say it's about average.

Answer 2

One of the keys to pricing a car is to effectively rate the car as the price will vary widely based on condition and mileage.  Mileage is pretty obvious.  You should base condition on a Carfax report (which would also help catch any odometer fraud) and your own review. Before you buy your final step should be an inspection by a qualified mechanic - but that's too expensive to do on every car you look at.

There are a bunch of places to check car prices on the Internet. NADA guides is one - but since they are owned by the car dealers association I never recommend them. KBB is another. Driverside.com is a new site and they have a couple of extras - great data showing price based on mileage; DriverSide Estimate where they search actual listings to find what cars are actually selling for in local markets; and estimates for trade in pricing.  

http://www.driverside.com/value-your-car...

Also take a look a the DriverSide cost of ownership - service, gas, insurance and even depreciation to see how the price will drop over time.  I find that most folks look at the one time sales price - not the ongoing costs which continue long after you buy your car.

Answer 3

Service History is a BIG question. 203k with a FSH is one thing, but 203k not properly maintained is a very different matter.