BMW 6 series on Ebay w/ salvage title

[Raptor2216]

OK...I found this car: http://cgi.ebay.com/ebaymotors/2007...09QQihZ020QQcategoryZ6129QQrdZ1QQcmdZViewItem on ebay and i'm seriously considering buying it. For those of you who do not want to read the description, it has some water/flood damage and the seats are obviously jacked up and so is the "SRS" system...whatever that may be.

My question is, have any of you purchased a car off ebay before or anything this expensive? Also, does anyone have any experience with salvaged title cars? This car is practically brand spanking new and its an 07 but I have no clue how much it is really worth. I guess with water damage, you have to account for the fact that problems may arise in the future and that should be deducted from the value. I own a 2002 yamaha FZ1 that was purchased off ebay with a salvage title and it runs great but I know it will be harder to sell if I ever decide to and it will obviously sell for a lot less than a similar bike with a clean title.

If I get this car, I plan on keeping it for at least 10 years. I'm definitely not getting it to try and make a profit on it. Value wise, that car is worth about 85K if it didn't have the flood damage. So, does anyone have any clue as to how I can calculate a fair price? Finally, how will tax work on something like this? If I bring it back and register it in texas, will I pay the normal sales tax in texas on whatever the price might have been?

 

[Gatordev]

Think of it this way: You're buying a car from a manufacture that has lots of gee-whiz doodads that have possibly been water damaged. Usually electronics are the issue on BMWs, and if you have a warranty, that's not big deal, but since you won't have anything (not even the 4 year service that normally come w/ these), you potentially could be paying a lot for repairs. The seats aren't that big a deal, that's a relatively easy fix. I guess it's how much you want to spend for a car that potentially will cost you more down the road.

SRS is the airbags, I believe, but it's more than that (seat tensioners, side/knee bags, etc).

 

[skidz]

Sold as is. No warranty. I would stay away from it.

With the flood damage, it may appear in nice condition, and that's exactly what they try to do with salvaged titles. There could still very easily be much wrong with the internals of the engine, trany, and other portions of the internal systems. If you still want to go for it, make sure you have a good mechanic look in depth at all the components under the hood and car.

 

[insanebikerboy]

Can you do your own maintenance? And by maintenance, I mean do you know what an alternator is or how to solder, just to name a few? I ask that because water damage can be insidious in how it can cause problems. More than likely you'll get a great deal, but don't kid yourself about possible problems. Just weigh that against buying it.

As for actually buying it, you may have to shop around to find someone to give you a loan. I know USAA won't let you get a loan on a salvage title, and insurance may be tricky too.

So, that's the negatives. If you're willing to accept the risk it's possible to get a super deal. If you don't know a whole lot about cars I'd recommend getting a really good mechanic to check it out. If you're serious about buying it, the $200 or so for a very thorough inspection would be worth it.

 

[KBayDog]

A flooded vehicle with a salvage title and no warranty is not something I would drop $2800 on, much less $28K.

I do not know your financial situation, but I would encourage you to think long and hard before you spend that much for such a questionable vehicle.

 

[Pugs]

Push to zero units, MRT, unload and extend FAR away from this.

You have no idea what lurks in a car that thinks a $5000 "tune-up or repair" is routine. I'd rather wait ten years and buy one with a clear title.

 

[WheelsUpHeelsUp]

Looks like a future mechanical/electrical nightmare even if it is working now. Salvaged titles are worth ABOUT 1/2 of what a ok counterpart is and that's if they're fixed to operational status. Again, new shit the person outside of a dealership without all the special tools, schooling, computers. test equip ect can't touch it.
First generation pony or muscle cars are timeless and MUCH cheaper in the long run.

 

[Raptor2216]

Yea i'm good with the mechanical stuff but with something like this, i'm sure even the basic stuff is not so basic. I was actually thinking of going with USAA...they can cover me up to 50K but I guess if they won't cover a salvage title then it might be a problem.

I have great credit so I don't think it would be too hard to find another lender but who else gives such good rates?

Can you do your own maintenance? And by maintenance, I mean do you know what an alternator is or how to solder, just to name a few? I ask that because water damage can be insidious in how it can cause problems. More than likely you'll get a great deal, but don't kid yourself about possible problems. Just weigh that against buying it.

As for actually buying it, you may have to shop around to find someone to give you a loan. I know USAA won't let you get a loan on a salvage title, and insurance may be tricky too.

So, that's the negatives. If you're willing to accept the risk it's possible to get a super deal. If you don't know a whole lot about cars I'd recommend getting a really good mechanic to check it out. If you're serious about buying it, the $200 or so for a very thorough inspection would be worth it.

 

[A4sForever]

OK...I found this car .... and i'm seriously considering buying it.....it has some water/flood damage and the seats are obviously jacked up and so is the "SRS" system...whatever that may be......

"There's a sucker born every minute .... " P.T. Barnum ....

Buena suerte, Amigo.

 

[Raptor2216]

Oh come on now A4's...have some faith in me. The pen hasn't touched the check book yet.

"There's a sucker born every minute .... " P.T. Barnum ....

Buena suerte, Amigo.

 

[Yetti]

That is a nice BMW. However, I think I'm with everyone else when I say that, although it seems like a good deal, you will likely have many mechanical/electrical failures in the future. I have a 98 Mercedes, which is hardly a mechanical/electrical wonder, and I have had more trouble with the electronics than I can tell you. These new BMW are very sophisticated. A lot of the high performance vehicles are touch screen, and you even have to select how many horses you want to use. It's awesome, but I'm not sure you want to mess with a vehicle that had 10 inches of water in it.

On the other hand, for 28k it might be a good steal IF you are prepared to put money into it. And that may be a lot of money. My friends have German cars and they also put a lot of money into them for repairs and failed sensors etc. Not to mention, simple maintenance, breaks and tires are much more expensive, even to the point of absurdity.To tell you the truth, I wouldn't buy a German car again, despite what everyone THINKS they are. Great performance. Yes. Good looks. Yes. But mostly what they are are status symbols and money pits. I'd rather buy a new American car with a 5 year warranty that is very reliable.

But if you have some extra money and can live with imperfection, than I'd say as long as the engine electronics are working properly and the car looks as if it's new, then go for it. Still, the SRS isn't working, and the power seats aren't working, either. You would want to at least get the seats fixed, I'd imagine. You could also flip the car. All in all, I'd say it's a gamble. Good luck with whatever you choose. Just know that your future with the car will be far from carefree, especially without a warranty. Good luck!

 

[Schnugg]

Consider the fact that the entire car could have been soaked in salt water...does wonders with the electrical system in short time.

Most likely a Katrina car.

 

[RHPF]

Stay very, very far away from the car. All modern BMW's are loaded with technology that throws fits all the time. I couldn't imagine how many problems you would have with it being a flooded car. I honestly wouldn't even own a non-flooded BMW out of warranty.

FWIW I love BMWs and not knocking them, I just would stay super far away from a flooded one.

 

[A4sForever]

Oh come on now A4's...have some faith in me. The pen hasn't touched the check book yet.

I'm just tellin' you what ol' P.T. said ... I wished you good luck. Still do ...

 

[MIDNJAC]

Definitely DO NOT buy that car.....it doesn't get much more simple than that. There is a slight chance that you could get away with it, but even w/o the flooding and water damage you could definitely expect to pay big $$$ in the next 10 years on maintenance and repairs just for normal problems. I have owned my USAA loan car for over a year now, and if there is one thing that I can say about German luxury cars, it is to never buy a new one w/o a warranty. Prior to OBD-II era cars, you could probably get away w/ doing most of the work yourself and the parts were not as expensive. Biggest ticket items I have run across from BMW and Mercedes of that era (prior to mid 1990's) are Bosch fuel injection system components. Nowadays, there are sooo many sensors, "computers" and biodegradable wiring looms (read: very easily damaged) that you have no idea how much that car would have been damaged by even a little saltwater. If all of the advice on here isn't enough to steer you clear, I would suggest becoming a member on one of the BMW discussion boards and asking over there (try www.bimmerforums.com as a start). I would guess they will tell you the same thing, but you may as well hear it from some owners. Good luck on your car search!