Should i purchase a 1999 BMW 323i sport?

Question

Car has 100k on it and the asking price is $5500. I think the car is dead s**y but im not sure about the reliability. thinks this is a good deal?

Answer 1

What's the condition of the car? That's really cheap for that year and model. I've seen others in mint condition with higher miles and more money. Have a carfax check, and ask to have a mechanic look it over. If there's a warranty, take full advantage of it. BMW's are a good car and can last if taken care of. I have a 2000 E-320 Mercedes and it rides like a dream. Good luck!  

Answer 2

BMW used cars are very affordable, because once they're out of their warranty period, the cars are a fortune to fix and the parts are very expensive. That's why the "dead s**y" car is so affordable. You can spend thousands to fix a simple problem. I would pass on it personally, but if you want it, buy it. I would get a Honda or Toyota and trick it out. They'll run to 200K miles plus and very cheap to fix.

Answer 3

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.