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Buying a 2008 BMW 335i Salvage?
I'm looking at buying a salvage title'd BMW. The current owner of the car bought it himself as a salvage and has driven it for over a year without issue and says he will send pictures of the damage once he returns from his vacation. He's asking $16,000 for a manual 2008 335i with Sport, Premium, and Logic7 Sound package w/ 54k miles. KBB is $21,700; 21,200; 20,500; 18,800 and I've read some people saying to take 30% off KBB while others swearing 50% off the lowest KBB price and taking 50% off the lowest KBB price seems outrageous because I've seen several other salvage 328i's similarly equipped sell for 12k-14k (which is 25% off the KBB fair price)
I'm really looking for a manual black on black BMW that's in the 15-17k range and being a 335i was just a bonus and one of the only manual BMW's I could find in all of CA. There were others but those were all of beige interiors or high (100k+ miles)
I'm just wondering if this is worth the price or what price would be suggested and obviously nothing under 12k would make sense because I was about to buy a few other 328i's for 12.5k w/ a salvage title and seemingly minor front end damage with a CHP and BMW inspection performed.
I'm also not looking to re-sell this car and to either drive it to the ground or re-sell it in the long future for probably cheap.
Also already checked with my insurance and I am able to get insurance at no extra charge but will be obviously paid less if the car is totaled again
4 Answers
- ?Lv 58 years agoFavorite Answer
I'm not in the BMW class, but according to my internet source**(see source), that sounds like an ok offer. He may have left some extra money in it in case he has to deal with a "horse trader". 25%-30% off avg. price is more normal for salvage title cars. If its an OBO situation, it wouldn't hurt to offer less...but if it's the EXACT car you want, well, then that might take exception.
I want to commend you on your salvage title common sense. That "drive it into the ground" attitude, is the proper attitude to have. Also...staying Accident Free is another good attitude to have when owning a salvage title car. I know, because I've owned 4 salvage titled cars. I've had nothing but great luck with them and saved a ton of money on them as well.
- Stupid FlandersLv 78 years ago
My rule of thumb is that I would never pay more than 50% of the Excellent KBB value.
Assuming your numbers are correct, I would pay no more than $10,900, but that is just me.
Unlike clear titled vehicles, who's values are based on supply and demand of the market, the value of salvaged vehicles is purely subjective. Because they don't really have a true value, they are worth whatever a party is willing to pay.
As long as you accept the fact that you are going to have a tough time re-selling it and can find insurance, then you have covered your bases.
I assume you are going to pay cash for this? Many lenders will not finance a salvaged vehicle.
- Anonymous5 years ago
I personally would want the 335i if I were going to be driving it everyday for all out comfort. For bone breaking performance, the 1 series would be a blast. It is up to you. Of course the one is a new model here in the USA and has not had time to build up a history like the 3 series.
