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View Full Version : Got a salvage 2002 M3


Mike54900
10-02-2005, 09:16 PM
With all my crazy ideas with rebuilding a salvage bmw 540 or getting a used e30 I went out with my dads friend who owns an auto body shop and went into an insurance auction and got myself a 2002 bmw M3 black on black with 39,000km for $11000 my dads friend got me in with a dealer licence. So now the car sits in his shop and will be repaired by him sometime next week and be already in 2-3weeks when it is finished I will show some pictures of it when it is done. *th-up*

Justin e36
10-02-2005, 09:20 PM
haha.. I was at the auction, I was going to buy the same one... opted for a few e36's and the new 740LI. Did you see the new G35 that went for $8800??

windsor318is
10-02-2005, 09:44 PM
where was this auction? i went to a couple years ago, never really saw anything new like that. was it the milton one??

RevShoT
10-02-2005, 09:48 PM
haha.. I was at the auction, I was going to buy the same one... opted for a few e36's and the new 740LI. Did you see the new G35 that went for $8800??

justin where is all this newfound money comming from?

i want a cut!

Antz_Marchin
10-02-2005, 09:54 PM
How bad is the damage to the M3? and what will it cost to repair it??

Justin e36
10-02-2005, 09:55 PM
These are not public auctions, they're dealer auctions only. They have them out in Hamilton, Stouffville, amongst some other smaller locations.

RevShoT
10-02-2005, 09:56 PM
These are not public auctions, they're dealer auctions only. They have them out in Hamilton, Stouffville, amongst some other smaller locations.

i thought u were near broke cause of that stripper you and i picked up and she stole our wallets and she used all ur credit cards *no-no*

Justin e36
10-02-2005, 09:57 PM
I am in debt still... but buying these cars / parting them out makes decent cash while I'm back in school.

do me a fave, and edit your post btw Rev...

RevShoT
10-02-2005, 09:59 PM
gotcha :D

Justin e36
10-02-2005, 10:02 PM
thanks. most of the cars these past months have been water damage cars from the flood down in Vaughn last month. Many are cosmetically perfectly fine, and fine engines.. some had hydrolock, most are just electrical problems... need to replace a few computers. All are going dirt cheap. However, water damage vehicles are not allowed back on the road in Ontario.. they can only be repaired in the U.S> or in Quebec. Same with cars in Quebec or the U.S... they can be brought to Ontario to get repaired. A lot of flood damage vehicles from Hurricane Katrina are already showing up in Buffalo, a lot of guys in Toronto are making a KILLING going down there and buying new Porsches, Bimmers, Benzo's for around $10k CDN, fixing them down here to resell.

dealer licenses come in handy. even if it is just a side-hobby to kill time and learn a few new things about cars. I don't think I could ever do automotive work career-wise.

Antz_Marchin
10-02-2005, 10:06 PM
Wow, I wish I could pick up something from one of these. I always miss out on the good stuff

Mike54900
10-02-2005, 10:43 PM
The m3 is only gonna cost me $6,000-8000 to repair cause my dads friend is giving me a huge deal on parts and stuff
My dad bought 5 honda civics this year and repaired them and sold them total cost with repairs ran him arould $10,000 a car and sold them for $14,000. Thats why I'am going to collage for auto body *th-up*

rendered
10-03-2005, 01:58 AM
learn how to be a crook! j/k

Waterwings
10-03-2005, 09:10 AM
I hope your dad has a dealer license

Mystikal
10-03-2005, 11:06 AM
You're right about the flood damaged cars at auction Justin, a friend of mine picked up something like 20 brand new Civics that were deemed "flooded" when in reality they weren't in any water at all. The Honda dealers just cleared the lot completely, and these cars are perfect in every way. The price? $3-5k each.

coolhand
10-03-2005, 11:45 AM
Does getting a dealer lisence involve any type of schooling. How much does it cost and how long does it take. Also does it need to be reenstated?

Waterwings
10-03-2005, 11:47 AM
you have to have a piece of land that you are legally allowed to sell off of, So I would say thats your biggest concern.

Mike54900
10-03-2005, 03:33 PM
And No U cant get a dealer lisence as making ur house your dealer lot. You also need a permit from the goverment

328is_Perf
10-05-2005, 12:09 AM
hmm... E39 M5 how much do you think you can get one for? i've been looking and looking ..

///Milk
10-05-2005, 01:30 AM
You have any "before" pix?

ColdAccord
10-05-2005, 01:45 AM
I'm in buffalo, shiet let me know about some cars. in a few weeks I will have money again to buy/sell a car and go from there

Eurostyle
10-05-2005, 03:21 AM
Does getting a dealer lisence involve any type of schooling. How much does it cost and how long does it take. Also does it need to be reenstated?


About $1500 last time i checked...and you need a shop to work from...Its not that easy, otherwise everybody would get one...