E46 M3 buying advice?
Discussion
Put this in "car buying" earlier but as yet no response, so thought more people might see it on GG. As below, any insight on these vehicles would be most helpful. Thanks. 
I'm very happy with my current fleet. We have a very practical family car and my MINI Cooper is a perfect daily. Fun to drive, very cheap to run and I can park it anywhere. However, I still miss the performance fix that I used to get from my WRX. I have been thinking about where to go next for my performance fix and the two cars that I keep coming back to are the Porsche Cayman S and the BMW M3. I have considered an E90 M3 as a daily before but really can't justify the high running costs for a daily. A Cayman S would make a fine daily but I can only stretch to a 987 and the one that I really lust after is the 981! Also, it's only a 2-seater so I can't take the family out in it.
Which brings me to the E46 M3, which could possibly be my ideal weekend car? Although the later V8 M3 has undeniable appeal, it's still a modern car which is still on its downward depreciation curve. It's a bit too expensive to run day-to-day but it seems like a waste to not run it as a daily and I'm not sure if it's quite special enough for a weekend car?
When someone mentions the BMW M3, the first one that always comes to mind for me is the E46. I was 21 when it came out and it just looked and still looks so right. It's also still a fast car, sounds fantastic, is quite practical (4 seats) and has a "classic" appeal that I like and for me most modern BMWs have lost, despite being fantastic cars.
The E46 M3 market is a little confusing though. I would love a CSL but they are way out of reach now. The CS would seem to be the next most desirable and available with a manual transmission, which I would want but quite rare and the rest seem to range anything from 6k for a high mileage rough example to 30k for a low mileage minter. I don't want to end up with an expensive money pit but I don't see the value in spending E90/E92 M3 money (15k+) on an E46 either.
So where is the sweet spot in the market? It has to be a manual Coupe. 18 or 19 inch wheels? What are the most desirable colours? I would want to keep my MINI as a daily I think, so that I'm not piling commuter miles on an M3 but it's not an investment and I would still plan to use it regularly as it should be used but should I fancy a change or my circumstances change, I want to be able to move it on without losing too much money (although not expecting to make money).
My instinct is to go for as late an example as possible with low miles without spending silly money. Being a 12+ year old car though, many have done over 100k. Should I avoid these examples or is that nothing to be concerned about?
Any advice on what level to buy at in the market to minimise my chances of buying a money pit but not paying over the odds and losing lots of money would be much appreciated.
P.S. before anyone suggests one because I know one sounds ideal, I don't really like 911s, especially the 996! If we're talking GT3/GT3 RS then yes absolutely but the standard Carrera just does nothing for me, which is why I prefer the Cayman.
I'm very happy with my current fleet. We have a very practical family car and my MINI Cooper is a perfect daily. Fun to drive, very cheap to run and I can park it anywhere. However, I still miss the performance fix that I used to get from my WRX. I have been thinking about where to go next for my performance fix and the two cars that I keep coming back to are the Porsche Cayman S and the BMW M3. I have considered an E90 M3 as a daily before but really can't justify the high running costs for a daily. A Cayman S would make a fine daily but I can only stretch to a 987 and the one that I really lust after is the 981! Also, it's only a 2-seater so I can't take the family out in it.
Which brings me to the E46 M3, which could possibly be my ideal weekend car? Although the later V8 M3 has undeniable appeal, it's still a modern car which is still on its downward depreciation curve. It's a bit too expensive to run day-to-day but it seems like a waste to not run it as a daily and I'm not sure if it's quite special enough for a weekend car?
When someone mentions the BMW M3, the first one that always comes to mind for me is the E46. I was 21 when it came out and it just looked and still looks so right. It's also still a fast car, sounds fantastic, is quite practical (4 seats) and has a "classic" appeal that I like and for me most modern BMWs have lost, despite being fantastic cars.
The E46 M3 market is a little confusing though. I would love a CSL but they are way out of reach now. The CS would seem to be the next most desirable and available with a manual transmission, which I would want but quite rare and the rest seem to range anything from 6k for a high mileage rough example to 30k for a low mileage minter. I don't want to end up with an expensive money pit but I don't see the value in spending E90/E92 M3 money (15k+) on an E46 either.
So where is the sweet spot in the market? It has to be a manual Coupe. 18 or 19 inch wheels? What are the most desirable colours? I would want to keep my MINI as a daily I think, so that I'm not piling commuter miles on an M3 but it's not an investment and I would still plan to use it regularly as it should be used but should I fancy a change or my circumstances change, I want to be able to move it on without losing too much money (although not expecting to make money).
My instinct is to go for as late an example as possible with low miles without spending silly money. Being a 12+ year old car though, many have done over 100k. Should I avoid these examples or is that nothing to be concerned about?
Any advice on what level to buy at in the market to minimise my chances of buying a money pit but not paying over the odds and losing lots of money would be much appreciated.
P.S. before anyone suggests one because I know one sounds ideal, I don't really like 911s, especially the 996! If we're talking GT3/GT3 RS then yes absolutely but the standard Carrera just does nothing for me, which is why I prefer the Cayman.
18 inch wheels, manual, coupe, leather, facelift, dark colour paint FTW.
CS is over rated.
Check for rust in the arches and sills.
Avoid 19s - look nice but much harsher ride
Avoid SMG - very clunky by modern standards and expensive to fix when it borks.
Avoid GPS / TV - useless by today's standards.
Get one that has already had the boot floor / rear sub frame repair work done. Don't believe anybody who says 'this one won't need it'
Stock brakes are crap if you want to do any level of sustained spirited driving - various good upgrades available. Same for shocks and springs.
Bushes and ball joints are consumable, especially on the rear, check condition before buying.
Buy on condition, not age or miles. These cars are high maintenance and you want to buy from someone who has a service history that's as thick as the Yellow Pages.
Put good tyres on it after you buy - don't skimp on this.
Be picky with the oil you use.
Check out m3cutters for more advice, just don't let 'the personalities' annoy you too much!
Rich
(Former e46 m3 owner)
CS is over rated.
Check for rust in the arches and sills.
Avoid 19s - look nice but much harsher ride
Avoid SMG - very clunky by modern standards and expensive to fix when it borks.
Avoid GPS / TV - useless by today's standards.
Get one that has already had the boot floor / rear sub frame repair work done. Don't believe anybody who says 'this one won't need it'
Stock brakes are crap if you want to do any level of sustained spirited driving - various good upgrades available. Same for shocks and springs.
Bushes and ball joints are consumable, especially on the rear, check condition before buying.
Buy on condition, not age or miles. These cars are high maintenance and you want to buy from someone who has a service history that's as thick as the Yellow Pages.
Put good tyres on it after you buy - don't skimp on this.
Be picky with the oil you use.
Check out m3cutters for more advice, just don't let 'the personalities' annoy you too much!
Rich
(Former e46 m3 owner)
Manual coupe. Facelift. Under 80k miles. Sometimes the SMG can be sold higher. Comprensive service history. Leather, nav (although it is dated - a common swap is a pioneer double din) harmon/kardon, parking sensors. Refurbished diamond cut alloys or BBS (genuine). Imola Red, Laguna Seca Blue, Silver or Black. Non exterior paint matched interior. Bolsters done on seats, relatively unmarked. Up to two owners with a BMW or M Specialist history. SUBFRAMES DONE. Original parts (i.e all parts replaced are BMW genuine). Sold by a dealership, (Sytner Group will overprice them, preferably M Specialist) 2+ keys with original leather key fob. No signs of rust (underseal means it has been looked after). Not thrashed hard but not driven too gently. Check oil levels to ensure the engine is nourished. Some "tasteful" BMW Individual parts. Smaller wheels.
My research and how I got within an inch of buying the perfect M3
My research and how I got within an inch of buying the perfect M3
Edited by anonymous-user on Saturday 18th February 05:57
Just buy your car on condition and don't worry too much about mileage. Don't worry if the sub frame's not been touched either. The general consensus is that they will all end up cracking around the sub frame mounts eventually, so just budget it in if it's not been done, and buy one with no obvious damage in that area if it's still in factory spec. My current M3's done 130k and hasn't had the sub frame repaired. It also doesn't have perfect service history yet it drove nicer than the previous E46 M3 I owned which had excellent history. Snapped rear springs are common but cheap to replace. Standard brakes are fine if well maintained - I took mine around the Nurburgring with zero brake fade after swapping old brake fluid for decent fluid. Standard suspension is fine too if maintenance is kept up. Look for rust on rear arches and sills below where the front wing ends. 18" wheels are far better for comfort and possibly handling too. I've had both on my car and definitely prefer 18". Budget to have the big end bearings inspected on anything you buy. They're known to wear so worth having replaced for peace of mind if you're planning on keeping the car a while. 10k will find you a very nice car.
Thanks for all the very helpful replies. Just a couple of questions.
1) What's different about a CS over and above a regular M3?
2) Many of the ones I have seen have the 19" CSL wheels but most say it's a nicer car to drive on the standard 18s. Are the CSL wheels any better i.e. are they lighter, therefore less unsprung weight than the regular 19s or is it the lower profile of the tyre that is the issue?
There's a specialist (Nick Johnson Motor Comapany) fairly local to me who claim to be an M3 specialist and have several E46 M3s ranging from 12.5k to around 19k. They have one in stock which is a 2004 04 plate, manual in Estoril blue with grey leather, 83k and only 2 owners for just over 14k. They also claim that all of their cars have had a subframe inspection, whatever that means. Has anyone come across this dealer? Overpriced or worth it for some piece of mind? As someone else said, there are similar age and mileage cars around for closer to 10k.
Thanks.
Just a couple of questions. 1) What's different about a CS over and above a regular M3?
2) Many of the ones I have seen have the 19" CSL wheels but most say it's a nicer car to drive on the standard 18s. Are the CSL wheels any better i.e. are they lighter, therefore less unsprung weight than the regular 19s or is it the lower profile of the tyre that is the issue?
There's a specialist (Nick Johnson Motor Comapany) fairly local to me who claim to be an M3 specialist and have several E46 M3s ranging from 12.5k to around 19k. They have one in stock which is a 2004 04 plate, manual in Estoril blue with grey leather, 83k and only 2 owners for just over 14k. They also claim that all of their cars have had a subframe inspection, whatever that means. Has anyone come across this dealer? Overpriced or worth it for some piece of mind? As someone else said, there are similar age and mileage cars around for closer to 10k.
Thanks.
I went against all the advice (E46 manual Cab) but ended up with a good one somehow despite limited history and CAT D. Very much a heart over head moment but I knew the boot was done and springs recently replaced. An inspection 2 with health check showed excellent compression on all pistons and a 8/10 from a specialist mechanic.
Will need donut and clutch soon which won’t be cheap but that’s more general wear and tear unfortunately.
Point being, you can narrow the odds but there will always be an element of luck with a second hand car.
Will need donut and clutch soon which won’t be cheap but that’s more general wear and tear unfortunately.
Point being, you can narrow the odds but there will always be an element of luck with a second hand car.
home said:
My garage owner has a 2006 E46 M3 SMG softtop tucked away in his garage which is barely used. Currently on 29k miles. He's had it for 6 years now I think. I remember him saying he'd sell it if someone offered the right money for it... can ask if you're interested.
Thanks. Got to be a manual Coupe for me though I think.Gassing Station | Car Buying | Top of Page | What's New | My Stuff