F87 M2 vs E46 M3
Discussion
Hi guys,
Im very stuck with my next car choice. I have always loved the E46 M3 and thought of it as a bit of a dream car, however, with recent E46 market changes (its gone f***ing mental) and the factor of the ridiculous potential running costs, ive found myself looking at an F87 M2. I dont mind spending some money on running an old car, youd be naive to think you dont have to spend money on an old car, but with rear arch rust being a very expensive factor now and adding to the big 3 (which these days is more like the big 10), i cant help but feel like buying a 46 M3 in 2026 is a bad idea. This is where the M2 has come to my attention, I think stock for stock the M2 appeals a touch more, will be more usable on the road (I have a Clio 182T for trackdays so wouldnt be looking to track the M).
Has anyone else had this dilemma? If it was a case of both would cost a similar amount to run with less risk of a huge bill, id go for the E46, but when you factor everything in, the F87 looks to appeal more. Its a case of head vs heart i think.
Im very stuck with my next car choice. I have always loved the E46 M3 and thought of it as a bit of a dream car, however, with recent E46 market changes (its gone f***ing mental) and the factor of the ridiculous potential running costs, ive found myself looking at an F87 M2. I dont mind spending some money on running an old car, youd be naive to think you dont have to spend money on an old car, but with rear arch rust being a very expensive factor now and adding to the big 3 (which these days is more like the big 10), i cant help but feel like buying a 46 M3 in 2026 is a bad idea. This is where the M2 has come to my attention, I think stock for stock the M2 appeals a touch more, will be more usable on the road (I have a Clio 182T for trackdays so wouldnt be looking to track the M).
Has anyone else had this dilemma? If it was a case of both would cost a similar amount to run with less risk of a huge bill, id go for the E46, but when you factor everything in, the F87 looks to appeal more. Its a case of head vs heart i think.
LTW_Yup said:
Hi guys,
Im very stuck with my next car choice. I have always loved the E46 M3 and thought of it as a bit of a dream car, however, with recent E46 market changes (its gone f***ing mental) and the factor of the ridiculous potential running costs, ive found myself looking at an F87 M2. I dont mind spending some money on running an old car, youd be naive to think you dont have to spend money on an old car, but with rear arch rust being a very expensive factor now and adding to the big 3 (which these days is more like the big 10), i cant help but feel like buying a 46 M3 in 2026 is a bad idea. This is where the M2 has come to my attention, I think stock for stock the M2 appeals a touch more, will be more usable on the road (I have a Clio 182T for trackdays so wouldnt be looking to track the M).
Has anyone else had this dilemma? If it was a case of both would cost a similar amount to run with less risk of a huge bill, id go for the E46, but when you factor everything in, the F87 looks to appeal more. Its a case of head vs heart i think.
I think in this situation, aside from the turbocharging in the M2, you are basically getting a modern E46 M3, with more power and a better chassis. Im very stuck with my next car choice. I have always loved the E46 M3 and thought of it as a bit of a dream car, however, with recent E46 market changes (its gone f***ing mental) and the factor of the ridiculous potential running costs, ive found myself looking at an F87 M2. I dont mind spending some money on running an old car, youd be naive to think you dont have to spend money on an old car, but with rear arch rust being a very expensive factor now and adding to the big 3 (which these days is more like the big 10), i cant help but feel like buying a 46 M3 in 2026 is a bad idea. This is where the M2 has come to my attention, I think stock for stock the M2 appeals a touch more, will be more usable on the road (I have a Clio 182T for trackdays so wouldnt be looking to track the M).
Has anyone else had this dilemma? If it was a case of both would cost a similar amount to run with less risk of a huge bill, id go for the E46, but when you factor everything in, the F87 looks to appeal more. Its a case of head vs heart i think.
The E46 is one of my favorites and it was a reason I gravitated toward the M2 when they came out. The cars are similar in many ways, but with the M2, you should be much better off on maintenance and reliability.
My personal advice - don't bother with an E46 M3, they're too old. I had an E46 330Ci, 2004 facelift from 2012 until 2025 and I was spending at least £1-2k a year in maintenance in the final few years. That's without keeping it in top notch condition (it was a third car, kept it for sentimental reasons). In the end, I got so tired of something needing replacement that I just scrapped it, didn't even bother selling it (it was top spec for its time - manual, bi-xenons, heated seats, sat nav, rear sensors, etc).
I have an E46 M3 and have done for a number of years - I echo the sentiment here that there's too much to go wrong.
If you can find one that's had £20k spent on an underside restoration, then great. But add in VANOS, RACP, rod bearings and the fact parts are more commonly NLA it becomes harder and harder to maintain. Example recently is the windscreen scuttle trim....
That said mine hasn't cost me a fortune - it's just the bodywork that will cost £££££ to put right.
The F87 in my eyes in the modern incarnation of the E46 - even though it's turbo'd.
The S54 on-song at 8k RPM with a carbon airbox is somethign that not much else can compare to - but they do need a lot of TLC now the youngest were registered 20 years ago...
If you can find one that's had £20k spent on an underside restoration, then great. But add in VANOS, RACP, rod bearings and the fact parts are more commonly NLA it becomes harder and harder to maintain. Example recently is the windscreen scuttle trim....
That said mine hasn't cost me a fortune - it's just the bodywork that will cost £££££ to put right.
The F87 in my eyes in the modern incarnation of the E46 - even though it's turbo'd.
The S54 on-song at 8k RPM with a carbon airbox is somethign that not much else can compare to - but they do need a lot of TLC now the youngest were registered 20 years ago...
I don't think they are really direct alternatives.
An E46 is now over 20 years old so by many definitions is a classic, but will need all the upkeep any car of that age will require. Although you do get the fantastic soundtrack that makes an S54 engine so special up towards the red-line and it is unlikely to depreciate!
Whereas an F87 M2 is just a used car with a turbo engine so revving it out may not be quite so special and it probably still has some depreciating to do.
But if running costs are a major factor the M2 has to be the sensible choice.
An E46 is now over 20 years old so by many definitions is a classic, but will need all the upkeep any car of that age will require. Although you do get the fantastic soundtrack that makes an S54 engine so special up towards the red-line and it is unlikely to depreciate!
Whereas an F87 M2 is just a used car with a turbo engine so revving it out may not be quite so special and it probably still has some depreciating to do.
But if running costs are a major factor the M2 has to be the sensible choice.
I’ve recently purchased an og M2, it was between this and a e92 m3. Used as a weekend toy.
I’m happy with my choice, does sound lovely with the mperformance exhaust but not as nice as that v8 soundtrack.
I love the look of the f87, slightly more modern inside with car play etc although could be retrofitted to a e92.
Running costs and servicing of the m2 isn’t too bad. I’d definitely recommend taking one for a blast
I’m happy with my choice, does sound lovely with the mperformance exhaust but not as nice as that v8 soundtrack.
I love the look of the f87, slightly more modern inside with car play etc although could be retrofitted to a e92.
Running costs and servicing of the m2 isn’t too bad. I’d definitely recommend taking one for a blast
Depends on how much the engine and steering matter to you. As an experience the E46 M3 is miles ahead, but as others have said, the running costs a significantly more. I'd also suggest that you'd want to keep the E46 in a garage as otherwise you'll constantly be battling with rust.
The main issue is that since they've been turbocharged, the gap between and M car and the top end non-M models has got much closer.
The main issue is that since they've been turbocharged, the gap between and M car and the top end non-M models has got much closer.
survivalist said:
The main issue is that since they've been turbocharged, the gap between and M car and the top end non-M models has got much closer.
In what way? My F series 340i was a million miles from my M3. I actually prefer the E46 330i to the newer M-lite iterations, it’s more under the radar.
My vote goes to the F87 for usability, and E46 makes a better garage queen.
As above The M2 as a daily and the M3 as a garage queen/ weekend toy.
The M2 is great value at the moment and with a manual gearbox is brilliant car.
It doesn't have the character of the M3 though, It win's on look's and noise.
For the one car garage and price the M2 is a great choice!
The M2 is great value at the moment and with a manual gearbox is brilliant car.
It doesn't have the character of the M3 though, It win's on look's and noise.
For the one car garage and price the M2 is a great choice!
JAMSXR said:
survivalist said:
The main issue is that since they've been turbocharged, the gap between and M car and the top end non-M models has got much closer.
In what way? My F series 340i was a million miles from my M3. I actually prefer the E46 330i to the newer M-lite iterations, it s more under the radar.
My vote goes to the F87 for usability, and E46 makes a better garage queen.
The E46 330i and M3 felt much further apart to me. Those were manuals though, as the auto and SMG options were awful.
Same for the E9X versions. Although that was turbo vs NA, so much harder to compare as a daily.
ETA - both the F series cars were tuned. Which maybe bridged the gap a bit.
Edited by survivalist on Sunday 8th March 22:27
Nice problem to have OP. I don't think there is much cross shopping between the two and you don't clarify if it's a daily or a weekend car.
The M2's steering is indeed its weak point although the E46's isn't exactly stellar, the rot had already started to set. Besides, I wonder if the better steering doesn't also gets spoiled by (often) tired suspension kinematics, which you can refresh, but at what cost?
The M2 has a little more depreciation to go through before it bottoms out of course but that probably pales into insignificance compared to the extra fuel/upkeep/tax.
I have done quite a few miles this year in my OG and I am staggered at how good the chassis is, which does offset for the presence of a turbo and the steering thing for me.
What a cheap car to run too.
The M2's steering is indeed its weak point although the E46's isn't exactly stellar, the rot had already started to set. Besides, I wonder if the better steering doesn't also gets spoiled by (often) tired suspension kinematics, which you can refresh, but at what cost?
The M2 has a little more depreciation to go through before it bottoms out of course but that probably pales into insignificance compared to the extra fuel/upkeep/tax.
I have done quite a few miles this year in my OG and I am staggered at how good the chassis is, which does offset for the presence of a turbo and the steering thing for me.
What a cheap car to run too.
OP you don’t say whether you’re looking to daily the E46, if you are then probably get the M2, as it’s far easier to live with and will hold up to daily weather and use better, if you daily an E46 it’ll get wrecked.
If you’re after a weekend car, then I personally can’t see how the M2 and the E46 are closely comparable, apart from they’ll cost about the same £25k to buy (good ones) and a manual in either, but the experience is very different, the S54 engine is very different to the turbo motor in the M2, having driven M2, M4, and 1M, all great cars but they don’t sing like a S54 does, and if that’s what you want then the M2 won’t hit the spot. In the same way having a NA F6 boxster or Cayman vs the 2.0T or 2.5T F4’s, nothing wrong with them plenty fast, but if you want a flat six with the sound and throttle response there is only one to buy.
Heart vs head comes down to how you intend to use either car, it might have to be a head purchase only
But without doubt regardless how you use the E46 the M2 will always be cheaper to run, but sadly prices of good E46’s won’t be coming down as supply gets less and less it’s hard enough to find manual coupes in good condition before you even get picky over colours and spec.
Have owned my E46 for 18 years so if I can be any further help feel free to DM me.
I wish you well with the decision and search.
If you’re after a weekend car, then I personally can’t see how the M2 and the E46 are closely comparable, apart from they’ll cost about the same £25k to buy (good ones) and a manual in either, but the experience is very different, the S54 engine is very different to the turbo motor in the M2, having driven M2, M4, and 1M, all great cars but they don’t sing like a S54 does, and if that’s what you want then the M2 won’t hit the spot. In the same way having a NA F6 boxster or Cayman vs the 2.0T or 2.5T F4’s, nothing wrong with them plenty fast, but if you want a flat six with the sound and throttle response there is only one to buy.
Heart vs head comes down to how you intend to use either car, it might have to be a head purchase only
But without doubt regardless how you use the E46 the M2 will always be cheaper to run, but sadly prices of good E46’s won’t be coming down as supply gets less and less it’s hard enough to find manual coupes in good condition before you even get picky over colours and spec.
Have owned my E46 for 18 years so if I can be any further help feel free to DM me.
I wish you well with the decision and search.
survivalist said:
JAMSXR said:
survivalist said:
The main issue is that since they've been turbocharged, the gap between and M car and the top end non-M models has got much closer.
In what way? My F series 340i was a million miles from my M3. I actually prefer the E46 330i to the newer M-lite iterations, it s more under the radar.
My vote goes to the F87 for usability, and E46 makes a better garage queen.
The E46 330i and M3 felt much further apart to me. Those were manuals though, as the auto and SMG options were awful.
Same for the E9X versions. Although that was turbo vs NA, so much harder to compare as a daily.
ETA - both the F series cars were tuned. Which maybe bridged the gap a bit.
Edited by survivalist on Sunday 8th March 22:27
I did actually set out looking for an F87 M2 but switched to the M3 as I wanted space for the family. It’s actually slightly appreciated in the time I’ve owned it which is a nice bonus. More and more modified and abused examples out there, so well maintained unmolested cars drive a premium. I assume the M2 is similar.
Edited by JAMSXR on Monday 9th March 07:23
Not much to add to the comments above but if it's for a daily or more than occasional use I'd go for the M2. I love my E46 M3 and will have had it 7 years this year but, to keep it rust free, it's dry days and salt free days only meaning less than 2k miles a year however even at those low miles I've probably averaged £1-2k costs per year. What I paid then vs what's it's worth now means I'm probably even(ish).
I really like the look of the OG M2s, I'd quite like one to go with my M3 one day. I wonder if they do Carbonschwartz....
I really like the look of the OG M2s, I'd quite like one to go with my M3 one day. I wonder if they do Carbonschwartz....
Mr Tidy said:
I don't think they are really direct alternatives.
An E46 is now over 20 years old so by many definitions is a classic, but will need all the upkeep any car of that age will require. Although you do get the fantastic soundtrack that makes an S54 engine so special up towards the red-line and it is unlikely to depreciate!
Whereas an F87 M2 is just a used car with a turbo engine so revving it out may not be quite so special and it probably still has some depreciating to do.
But if running costs are a major factor the M2 has to be the sensible choice.
Not sure they are going to depreciate much more. Many in the industry think the F87 is a future classic. The OG might go down a bit more but likely hold after that. An E46 is now over 20 years old so by many definitions is a classic, but will need all the upkeep any car of that age will require. Although you do get the fantastic soundtrack that makes an S54 engine so special up towards the red-line and it is unlikely to depreciate!
Whereas an F87 M2 is just a used car with a turbo engine so revving it out may not be quite so special and it probably still has some depreciating to do.
But if running costs are a major factor the M2 has to be the sensible choice.
The Comp and CS are actually going back up over here in Germany. My own car with comparable spec and year is going for about 3k more than I bought it for.
Night Owl said:
nickfrog said:
I think the OG will end being worth as much as the Comp at the same mileage, particularly in manual.
No, it won't. It doesn't have an S motor, and unlike the 1M, there are two S-motored variants available that put it to shame where it matters.Gassing Station | M Power | Top of Page | What's New | My Stuff