My dad just bought a 2002 M3 for...
 

2002 not 2005.
$15,000.
Not bad, it is even still under warranty. it has 64,000 miles on it.
My dad works as a head mechanic at a local BMW dealership and got it for a song.
Now if I can just get him to let me drive it.:p

If everything is straight, that sounds killer.

Wow that is cheap...evidently is he was buying the car off the street like anyone of us, he would have paid an easy $7K more for it.

Yasin

That's a damn good deal. He could pretty easily make $5k by flipping it, assuming it's in good condition.

Wonderful deal!

(I bet your Dad has a killer set of tools, eh)?:D

They're getting cheap. But parts scare me for those cars. Example, Water Pump E36 M3 - $82. Water Pump E46 M3 - $635.25 WTF? Source, Pelican Parts.

Well I'm glad I got a e36 M3 and not a e46 M3.

I'd say more like $10k+.

So, what's the story with it? Damaged? Salvage title? Sorry if I sound a bit skeptical, but $15k for an `05 (CPO?) M3 sounds like a bit of an embellishment to me (BMW tech or not). If not, it is the deal of the century. That is $5k less than the "rough" trade-in value.

I seriously doubt it

Many dealership mechanics get the option to buy any car coming in for a few hundred dollars over what it was traded in for. It is a perk.

George

Yea to the killer set of tools, he also used to be a head tech for a local VW dealership so he helps me quite a bit on my 944.

Nope, clean title with no major damage (the roll bar popped up and popped out the rear window when the prior owner went flying over the rail-road tracks though) the paint is a tiny bit dull and it has a couple of small scratches and a few rock chips but it is good beside that. my dad said the trade in value for is about 15-16 grand for that car in that condition right now.
Someone had traded in my 944 in to the dealership he works at with a bunch of other cars and he got my 944 for $1500 which was the trade in value BMW of Riverside gave to him, so I think he bought the M3 at trade in cost.
I am 99% sure it is still under the original warranty.

well he said he paid 15,000 for it and unless he is trying to hide the fact that he payed more for it from my mom, I have no reason to believe he is lying.

'02s with 64K miles still bring $15+ at wholesale auctions.

And pop-up rollbar = convertible, which would bring even more

Something's not right

Sorry it is a 2002 not a 2005. I mis-herd him over the phone.

what is not so right about it? Someone blond chick comes with a trad-in. The car worth $20k but the dealer told her $7k. She came out for a coffee and met the head mechanic who was wondering around at lunch. He said hello and she told him her story. The head mechanic offer her $2k more, all cash, and she is more than happy to kiss him and hand him the car for $10k total.