FS: (NYC) Loaded Rebuilt 2010 BMW M3 E92, 15k miles, $39,000, can help with shipping

[bmwm32010sale]

BIMMERPOST / Classifieds

Asking Price:

None

Item Interest

SOLD, SOLD SOLD!
Thanks to all for you for your interest and good luck with your search

PRIVATE PARTY SALE

CAR LOCATION: Brooklyn NY
CAN HELP WITH SHIPPING TO ANY STATE OR CANADA.

CREDIT UNION FINANCING AVAILABLE, ASK FOR DETAILS.

Jet Black with black leather, 420 HP 4.0L V8, 7-Speed Auto/Manual DCT Transmission, second owner.
Rebuild after minor accident (untouched engine and frame) at a shop specializing in BMW repairs only.
3000 miles since the rebuild, no issues with frame or alligmnent, drives like new.

• Car has REBUILD TITLE and is owner-registered in New York State
• UNTOUCHED ENGINE
• UNTOUCHED FRAME
• UNTOUCHED ORIGINAL RADIATOR

Features Premium, Technology and Cold Weather packages, dual-clutch Transmission with steering wheel shifter,
Electronic Damper Control with selection of suspension profiles (COMFORT, NORMAL, SPORT),
19-inch 220M style wheels with mixed tires (245 Front, 265 Rear /35/19), navigation, DVD, keyless entry and start,
sunroof, premium sound with 825W speakers and Equalizer, electric folding mirrors, etc.

Scope of damage and rebuilding work:

Replaced complete left front suspension, left fender, front bumber cover, radiator support (hard plastic was lightly cracked), left headlight, blended color on left fender, driver side door, hood, front and rear bumper. There was no other damage. Hood, aircleaner, radiators, windshield are original. There were no broken windows - all original. Perfect alignment, car runs straight. All systems work properly, no fault codes. This car has been refurbished into perfect working condition and has no known defects.

Warranty Status: No BMW factory warranty. Car was rebuild using new original parts.

Pre-Purchase Inspection:

Potential buyers can arrange prepaid Pre-Purchase Inspection (PPI) of his/her choice within Brooklyn, NY, against separately paid $150 advance reimbursement fee (for gas and time spent), payable to the seller, or after making non-refundable deposit toward the purchase. Suggested Inspection Facility: Bay Diagnostic, Inc., a member of www.bimrs.org (PPI cost $179 plus tax). Call to arrange details.

LINKS:

• CLICK HERE FOR DETAILED DESCRIPTION (link)
• CLICK HERE FOR PHOTOBUCKET ALBUM (link)
• CLICK HERE FOR PICTURES PRIOR TO REPAIRS (link)
• CLICK HERE FOR CARFAX REPORT (link)

Below I am attaching specific VIN-based Option report:

==================================================
Vehicle Inquiry> Design/MSRP
==================================================
Chassis Number: P363057
VIN: WBSWD9C56P363057
Prod: No: 7473818
Status: Retail
Act Prod Date: 11/2/09
Model: 1037 M3 Cp

==================================================
Description / MSRP
==================================================
Model: 1037 M3 Cp $57,850.00
Color: 668 Jet Black N/C
Upholstery: NCSW Black Novillo Leather N/C
Options: ZCW Cold Weather Package $750.00
464 Ski Bag N/C
494 Heated Front Seats N/C
502 Retractable headlight washers N/C

ZPP Premium Package $2,000.00
313 Power Folding mirrors N/C
319 Universal garage-door opener N/C
4MY Carbon Leather interior trim N/C
4NA Digital compass mirror N/C
639 BMW Assist with Bluetooth N/C

ZTP Technology Package $3,250.00
223 Electronic Damping Control N/C
2MD M Drive N/C
322 Comfort Access Keyless Entry N/C
609 Navigation system N/C
620 Voice Command N/C
6UH Real Time Traffic Information N/C

2MK M Double-clutch Transmission with Drivelogic $2,900.00
2MT 19" Forged and polished Double Spoke wheels (stype 220 M) $1,200.00
302 Anti-theft alarm system $400.00
403 Moonroof N/C
615 Online Information Service N/C
655 Satellite radio with 1 year subscription $350.00
6AA BMW TeleServices N/C
6AB Streering Teleservices N/C
6FL Ipod and USB adapter $400.00
752 Enhanced Premium Sound $1,900.00

Net Totals $71,000.00
Destination Charge $825.00
Gas Guzzler Tax $1,200.00
Total Suggested Price $73,125.00
==================================================

[ri6ky]

Good job to you and the body shop for putting her back on her feet!

Goodluck with the sale!

[bmwm32010sale]

Originally Posted by ri6ky

Good job to you and the body shop for putting her back on her feet!

Goodluck with the sale!

Thanks for the good word. It took some effort. I just hope I can recover most of my costs. Truthfully, I underestimated the repair costs and with all said and done, I am listing at a loss with few $K's below my cost base.

[bmwm32010sale]

Waiting for inquiries...

[swcc50]

why sell it after putting so much time and money into it?

[bmwm32010sale]

Originally Posted by swcc50

why sell it after putting so much time and money into it?

Good question. This is because this summer I am going overseas to Europe for a year or more, and I am already taking my other car with me.
On another note, once I bought this car and started the repairs, my only way out was to finish it, even when knowing it will cost me 10K more than planned.

I am driving this car since January, and love it. I hope someone else will too.

[bmwm32010sale]

Dear Members,

Contrary to many internet posts bashing rebuilt cars outright, they may be a good deal if you know exactly what you are getting, the extent of the damage (or reason for branding the title) is documented and you know how and where it was repaired. Keep in mind many insurers will prefer to promptly total the car if the estimated damage repair costs (usually high for luxury, sports or exotic cars) plus rental car reimbursement is more than 51% of estimated (and usually lowered by insurer) car value. Another important incentive for insurers to total the car instead of fixing it the fact they can recoup part of their cost by selling car at salvage auction (salvage value), and for such expensive cars usually the starting bid is 1/3 of the undamaged car value.

Also, some "clean title" cars with perfect CARFAX report may are have sustained unreported damages and were fixed by dealers and private sellers for profit. Just be careful when selecting your new vehicle - there are instances when even CPO vehicles have unreported issues (and thats including BMW and other luxury car dealers) If you want examples see here:

http://www.consumerreports.org/cro/2...orts/index.htm
http://www.bimmerfest.com/forums/sho...d.php?t=601899
http://www.6speedonline.com/forums/9...s-nothing.html
http://community.cartalk.com/discuss...rom-dealership
http://priuschat.com/threads/bought-...x-wrong.90938/
http://voices.yahoo.com/can-really-t...t-3883396.html

Just be careful when looking around and as usual, buyer beware!

I have also seen countless posts stating you cannot finance or fully insure cars with rebuilt title. I did my research and found out that this does not hold true. Contrary to such blanket statements, while it is harder to find, you can get comprehensive collision insurance (for example from GEICO) and financing for rebuilt cars, of course with varying terms depending on institution and/or state.

To help potential buyers with purchasing my car, I have located and confirmed a viable source of financing for cars with rebuilt title.

Financing is available through Digital Federal Credit Union, and everybody can become a member (weird, but true): https://www.dcu.org/.
I have spoken with their loan officers and determined the following:

DCU membership and Financing Terms:

• Anyone can join DCU (see: https://www.dcu.org/onlineserv/onlineapp-index.html). To summarize, you have to either live in DCU local branch communities in Mass. or Georgia, work for "Participating Employer" (extensive list available on website) or have membership of one of the following organizations: see https://www.dcu.org/onlineserv/onlineapp-index.html. For example, for $15 (student) or $35 (individual) you can become a member of Merrimack River Watershed Council (I have actually called them and told them I need membership in order to become DCU member, they were more than happy to sign me up) or, if you prefer to support open software, get monthly/yearly Free Software Foundation Membership at $5/$10 per month or $120 yearly.
• DCU will finance rebuilt title cars for up to 80% of the appraised car value. They will get you in touch with one of their appraisers.
• Appraisal can be done remotely based on submitted car pictures and supporting documents.
• Loan rates range from 2.99 % to 11.99 % APR, with specific rate determined based on your credit history and score, for up to 65 months (if you want lower rate) or more (additional 1 % APR to loan pricing) if you prefer lower monthly payment.
• There is no minimal credit score cutoff for loan approval. According to DCU loan officers, eligibility is determined based on your credit history and current income levels (e.g if you can afford the loan). Usual turn-offs are recently bankrupcy, recent unpaid collections. etc, e.g. fairly standard stuff.
• DCU approximate timeline of approval processs:
  • To become DCU member: 24-48 Hrs from application
  • Loan acceptance (after submission of all supporting documents): 24 Hrs
  • Loan Closing: 24 Hrs
  • Based on the above, estimated total time to closing: 3-4 days

I have also done preliminary assessment of my car valuation. I had a chat with an approved DCU appraiser who also sits on NADA Advisory Board, a nice older gentlemen who also performs appraisals for collector's cars (see: http://www.collectorcarappraiser.com/home.html). For interested party, he will perform DCU-approved appraisal at a cost of $200 (based on submitted supporting documents in my possession).

He also gave me a ballpark car valuation at $45-$48K, pending an actual appraisal review. In the case of my 2010 BMW M3 listed above, this means that DCU would finance $36,000 or more. I think it is a great deal.

Insurance

• You can get full coverage (e.g. comprehensive collision) insurance (from GEICO for example). I also called independent insurance broker and confirmed that there are many insurers who'd provide such coverage as well. You can shop around.
• GEICO's comprehensive collision insurance rates and terms for rebuilt cars are the same as in case "clean title" cars. The difference is the total car valuation, which is adjusted from appraised "clean" car value (which is reasonable). When getting such insurance, ask what that value is. You simply cannot buy discounted rebuilt car (in my case $39K) insure it, wreck it and expect the payout at $60K (NADA valuation for my BMW with "clean" title).

I hope you will find above information valuable. You never know, it may even make you open to considering getting my BMW (its still for sale), or simply help you buy some other rebuilt car you currently have an eye on. . Should you have additional questions, PM, call or email me (contacts listed in my car ad post).

[fongpi]

Can I see pics of the damage before it was sent out to fix? I think that would speak volumes.

[bmwm32010sale]

Originally Posted by fongpi

Can I see pics of the damage before it was sent out to fix? I think that would speak volumes.

Surely. I have included the link to post-accident pictures in the ad above (to see them, all you need to do is click on "CLICK HERE FOR PICTURES PRIOR TO REPAIRS" in the middle of the ad body above) but just in case you are not sure where, I am including a direct link below:

http://www.ridesafely.com/Gallery.as...yID=1108186828

[fongpi]

Thanks for the pics! So how did it happen? Did you spin out?

Great job in the repairs BTW!

[bmwm32010sale]

Originally Posted by fongpi

Thanks for the pics! So how did it happen? Did you spin out?

Great job in the repairs BTW!

No, I am the second owner. I bought for myself it at a salvage auction last fall for an arm and a leg (because I specifically wanted to get lightly damaged car w/o engine or frame issues) and repaired it at a body shop I knew from before. The body shop does only BMW's repairs/rebuilds (and they do it for last last 10 years or so). The owner of that shop is also a dealer himself, so big part of his business is to buy, repair and sell BMW's for himself, as well as customers like me. I picked them because I liked the quality of the job they do. I got my car back from them after repairs this Jan, drive it since and I love it.

Unfortunately, due to life circumstances I need to sell it (late summer I am going overseas to Europe and I am taking my other car with me). I hope it will find a good home.

BTW, here is the Ebay profile of the body shop owner/dealer:

http://feedback.ebay.com/ebaymotors/...edbackAsSeller

And here are beatiful pics of other cars he has done:

http://s1109.photobucket.com/albums/h437/bartus76/

Somewhere in his album, you can locate more pictures of my M3 as well...

[bmwm32010sale]

Added PPI info

[kyle46]

For those looking to purchase this please beware that a car with previous suspension damage such as this MAY not be safe for speeds over 140mph. As we know after an accident it is NEVER the same regardless of how well it is touched up..

just trying to save a life. Other than that it is a great car and will go quick for the right price.



"Scope of damage and rebuilding work:

Replaced complete left front suspension, left fender, front bumber cover, radiator support (hard plastic was lightly cracked), left headlight, blended color on left fender, driver side door, hood, front and rear bumper. There was no other damage. Hood, aircleaner, radiators, windshield are original. There were no broken windows - all original. Perfect alignment, car runs straight. All systems work properly, no fault codes. This car has been refurbished into perfect working condition and has no known defects."

[bmwm32010sale]

Originally Posted by kyle46

For those looking to purchase this please beware that a car with previous suspension damage such as this MAY not be safe for speeds over 140mph. As we know after an accident it is NEVER the same regardless of how well it is touched up..

just trying to save a life. Other than that it is a great car and will go quick for the right price.



"Scope of damage and rebuilding work:

Replaced complete left front suspension, left fender, front bumber cover, radiator support (hard plastic was lightly cracked), left headlight, blended color on left fender, driver side door, hood, front and rear bumper. There was no other damage. Hood, aircleaner, radiators, windshield are original. There were no broken windows - all original. Perfect alignment, car runs straight. All systems work properly, no fault codes. This car has been refurbished into perfect working condition and has no known defects."

Thanks for your input. Hence I strongly suggest getting PPI inspection for this or other used cars.

However, to continue with your train of thought on saving lives, I'd like to note that driving at speeds over 140 mph IS NOT SAFE NO MATTER WHAT CAR YOU ARE IN, and I strongly discourage it. First owner of this car may probably attest to it (frontal hit, possibly he didn't have not enough time or distance to stop? Who knows..)

[AhsanU]

Ugh, I'm really interested in upgrading to an E92 M3, and I live in NYC too so this could've gone down smoothly. But alas, I can't make any moves for at least another 3-4 months.

Seriously, if you still have this for sale in a couple of months - we'll be in touch.

GLWS!

[bmwm32010sale]

Originally Posted by AhsanU

Ugh, I'm really interested in upgrading to an E92 M3, and I live in NYC too so this could've gone down smoothly. But alas, I can't make any moves for at least another 3-4 months.

Seriously, if you still have this for sale in a couple of months - we'll be in touch.

GLWS!

Sorry to hear that Not sure how it will wind down, but I am looking to sell this or next month. BTW, I have it currrently listed on Ebay, no reserve:

http://cgi.ebay.com/ebaymotors/ws/eB...t_54898wt_1165

[bmwm32010sale]

Still selling...So far:

• all who seen the car in person like it,
• most would love to have it but don't have money,
• some who do, do not mind paying a premium for a CPO car (and losing a ton on depreciation to drive it...)

[bmwm32010sale]

Incidentally, I am currently running new Ebay auction for this car (see below):





End time: Jul-05-12 19:30:00 PDT
BMW : M3 Coupe E92 7 Speed DCT | Add To Watch List

Link: http://cgi.ebay.com/ebaymotors/ws/eB...t_55092wt_1165

I am happy to answer any questions you may have regarding this vehicle. Do not hesitate to contact me at (917) 363 9278 or by email at bmwm32010sale@gmail.com.
As an owner of this rebuilt, I learned much in the process about rebuilt cars, their pros and cons, and hopefully I will be able to present my perspective as well.

Thank you,

[bmwm32010sale]

Why insurance company "totaled" this car:

I am receiving many questions or concerns in regards to why this car was declared by insurance company a "total loss". Some go as so far to suggest that there must be something very wrong with the car otherwise it would not ever get sold as SALVAGE.

While I can only speculate, it seems this car was deemed "salvage" because:

• BMW dealer-submmited estimated repair cost was $31,232 USD, total estimated car value was $62,563 USD (see: Copart Salvage Sale Link)
• Parts for luxury European cars like this one cost premium. For example, airbag costs about $1000
• Once the repair cost reaches 50% of estimated car cash value, it is cheaper for insurance company to declare total loss and recover some of its cost via "salvage sale".

[bmwm32010sale]

It seems I am getting closer to the sale. I received a firm offer close to my asking price, to be consumed Tuesday. But alas, until cash in hand...it is still for sale.

So, last call for offers

[fongpi]

you are very thorough and make a very convincing sale, what do you do for a living?

[Drboost]

Originally Posted by fongpi

you are very thorough and make a very convincing sale, what do you do for a living?

GUESS LOL