M3 E46 buying advice needed urgently please about to buy...
Discussion
Hi all,
Very excited just about to buy an M3 E46 but your feedback would be most appreciated re running costs and if I'm being realistic.
The form is as follows:
£12k budget wanting to buy an M3 E46 looking around there appear to be quite a few in this price range
Sub 70K miles
HK hifi and 19" wheels are wanted
Full BMW service history
Is the above realistic? I have seen cars meeting this spec but am worried I may buy a lemon! At this price range all are either private sales or from 3rd party car dealers with suspect warranties...
Also my main concern is running costs. I plan to run the car over 3 years and had budgeted the following - once again am I being realistic or am I going to make a big mistake? I hear horror stories about £1000 brake replacements and things like that which is making me panic!
Estimated running cost per annum
Road Tax £300
Insurance £1300 - i have had a quote for this
Tyres £600 - i do very low mileage about 9K a year so hoping this averages out ok
Servicing £2000
Total running cost £4200 per annum; bear in mind I am hoping the car is cheaper to run hopefully?
Got a baby on the way hence need to be 100% accurate before I make my purchase any help would be most appreciated
Very excited just about to buy an M3 E46 but your feedback would be most appreciated re running costs and if I'm being realistic.
The form is as follows:
£12k budget wanting to buy an M3 E46 looking around there appear to be quite a few in this price range
Sub 70K miles
HK hifi and 19" wheels are wanted
Full BMW service history
Is the above realistic? I have seen cars meeting this spec but am worried I may buy a lemon! At this price range all are either private sales or from 3rd party car dealers with suspect warranties...
Also my main concern is running costs. I plan to run the car over 3 years and had budgeted the following - once again am I being realistic or am I going to make a big mistake? I hear horror stories about £1000 brake replacements and things like that which is making me panic!
Estimated running cost per annum
Road Tax £300
Insurance £1300 - i have had a quote for this
Tyres £600 - i do very low mileage about 9K a year so hoping this averages out ok
Servicing £2000
Total running cost £4200 per annum; bear in mind I am hoping the car is cheaper to run hopefully?
Got a baby on the way hence need to be 100% accurate before I make my purchase any help would be most appreciated
Hi,
Seems to me like you have budgeted very sensibly, and I would hope that the servicing costs would be less than that per annum.
Also depends on if you'll use BMW or whether you'll be happy with an Indy.
Personally, I think once over 4 or 5 years old you may as well use an indy. Keeping the car for 3 years means you could save over £1000 potentially by using an indy. I don't believe for one second that having a BMW FSH as opposed to just a FSH will make the car worth £1000 more when you come to sell it.
If you want to keep your annual costs down, might be worth trying to find a car that's just had the more expensive consumables done, like new discs for example. This could save you a few hundred quid a couple of months down the road.
Seems to me like you have budgeted very sensibly, and I would hope that the servicing costs would be less than that per annum.
Also depends on if you'll use BMW or whether you'll be happy with an Indy.
Personally, I think once over 4 or 5 years old you may as well use an indy. Keeping the car for 3 years means you could save over £1000 potentially by using an indy. I don't believe for one second that having a BMW FSH as opposed to just a FSH will make the car worth £1000 more when you come to sell it.
If you want to keep your annual costs down, might be worth trying to find a car that's just had the more expensive consumables done, like new discs for example. This could save you a few hundred quid a couple of months down the road.
Many thanks for your quick feedback. Would like to use BMW just so at resale time I can say it has a full BMW FSH. I agree with what your saying but thinking as a buyer right now I only want mail dealer service history so thinking when i come to sell other buyers would want the same?
The servicing costs I have used I am hoping are really high so I have covered myself in case any problems crop up?
The servicing costs I have used I am hoping are really high so I have covered myself in case any problems crop up?
Hi mate,
Welcome to the forum!
Well, I'm one of several on here that have literally JUST embarked on M ownership (in my cases and at least one other on here an E46 M3)
Buying wise, I think from my experience your budget is quite tight for a 70k 02', though with the spec level your looking at you may get lucky
Others may disagree but I wouldnt hold so much on a fBMWsh - there are many independent specialists that do the job cheaper and with far more care than BMW dealers, please take a look at the comments on THIS page and you will see what I mean!
You will need to make sure whatever, that at that mileage it has been serviced according to the Inspection 1 and Inspection 2 lists (this includes valve clearance checks and the like)
As for things to look at whilst purchasing, look at THIS guide
Very interesting info about the M3's little touches HERE
Your road tax budget is wrong I'm afraid - its £400 a year for the M3 (same bracket as an Enzo!)
Insurance, OK (Ouch!)
Tyres @ £600 for 9k/year sounds OK, but at this price you would probably be looking at mid range (factory fit Michelin Pilot Sports or Continentals are around £220 a corner!), but I have put new Falken 452's on the rear at £242 the pair and I have read many good reports about these (they also look fantastic in the arches as you have to select a wider tyre than the mich/Contis)
Your service budget sounds very realistic for 9k miles a year - I would say with this you are factoring in a major service at a max £700 (from a good independent) plus some unexpected issues, which despite the horror stories seem to be few and far between on cars that are looked after
Also, it wont be every year you need a major service (especially on that mileage) and will therefore find the required oil services in between leave plenty from your 2k budget
Final note: take your time about your hunt for the right car, theres a fair amount to choose from and at your budget private would probably be the way to go - when you have set on a car, get an RAC inspection, this costs £299 but I had it done on mine and was seriously impressed - I believe its better than the checks BMW will do for Approved Used Car (AUC) scheme
There are plenty on here with far, far more knowledge than me so I'll now pass the ball over to them
Welcome to the forum!
Well, I'm one of several on here that have literally JUST embarked on M ownership (in my cases and at least one other on here an E46 M3)
Buying wise, I think from my experience your budget is quite tight for a 70k 02', though with the spec level your looking at you may get lucky
Others may disagree but I wouldnt hold so much on a fBMWsh - there are many independent specialists that do the job cheaper and with far more care than BMW dealers, please take a look at the comments on THIS page and you will see what I mean!
You will need to make sure whatever, that at that mileage it has been serviced according to the Inspection 1 and Inspection 2 lists (this includes valve clearance checks and the like)
As for things to look at whilst purchasing, look at THIS guide
Very interesting info about the M3's little touches HERE
Your road tax budget is wrong I'm afraid - its £400 a year for the M3 (same bracket as an Enzo!)
Insurance, OK (Ouch!)
Tyres @ £600 for 9k/year sounds OK, but at this price you would probably be looking at mid range (factory fit Michelin Pilot Sports or Continentals are around £220 a corner!), but I have put new Falken 452's on the rear at £242 the pair and I have read many good reports about these (they also look fantastic in the arches as you have to select a wider tyre than the mich/Contis)
Your service budget sounds very realistic for 9k miles a year - I would say with this you are factoring in a major service at a max £700 (from a good independent) plus some unexpected issues, which despite the horror stories seem to be few and far between on cars that are looked after
Also, it wont be every year you need a major service (especially on that mileage) and will therefore find the required oil services in between leave plenty from your 2k budget
Final note: take your time about your hunt for the right car, theres a fair amount to choose from and at your budget private would probably be the way to go - when you have set on a car, get an RAC inspection, this costs £299 but I had it done on mine and was seriously impressed - I believe its better than the checks BMW will do for Approved Used Car (AUC) scheme
There are plenty on here with far, far more knowledge than me so I'll now pass the ball over to them
I posted the following on a thread asking the same question re a Z4M. I can't see any real difference to the E46M
For me...
Fuel 25mpg average over 15k mls
Insurance c £500pa
Tracker £130pa
Warranty - mine runs out 2010 but its c £600pa IIRC
Rear Tyres £400 pair every 15k mls
Front tyres similar but dunno wear rate
Servicing
Oil - £160 every 22kmls
Insp 1 - £626 every oher 22k mls
Brake Fluid £48 every two years
Depreciation - don't ask!
So for 12k mls / year
Fuel £2600
Ins £600
Tracker £130
Warranty £600
Tyres £320
Servicing £500
Say £5k!!! or 42p/mile...
Its only money...
ps you need to factor in £400 road tax too I forgot and can't be bothered to correct the calcs!
http://www.pistonheads.com/gassing/topic.asp?h=0&a...
For me...
Fuel 25mpg average over 15k mls
Insurance c £500pa
Tracker £130pa
Warranty - mine runs out 2010 but its c £600pa IIRC
Rear Tyres £400 pair every 15k mls
Front tyres similar but dunno wear rate
Servicing
Oil - £160 every 22kmls
Insp 1 - £626 every oher 22k mls
Brake Fluid £48 every two years
Depreciation - don't ask!
So for 12k mls / year
Fuel £2600
Ins £600
Tracker £130
Warranty £600
Tyres £320
Servicing £500
Say £5k!!! or 42p/mile...
Its only money...
ps you need to factor in £400 road tax too I forgot and can't be bothered to correct the calcs!
http://www.pistonheads.com/gassing/topic.asp?h=0&a...
Road tax for most E46 M3s will be £210 per year at the current rates, this will rise to £215 for 2009-10, and £245 for 2010-11.
The top two road tax brackets which attract the £400 rate of duty are only applicable to cars registered after 23/3/06, so only the very last E46 M3s will be affected.
The top two road tax brackets which attract the £400 rate of duty are only applicable to cars registered after 23/3/06, so only the very last E46 M3s will be affected.
£2K/yr on 'servicing' is way over the top, as said, it will amortise to around £600/yr depending on oil/inspI/inspII
That said, the rest of the 1.4K could very well be useful for replacing / fixing 'other stuff'
I don't know how these guys get 15K out a set of rears. I bought mine with 5-6mm on the rears, they lasted 6 months, then a full set of PS2's all round (£800. Ouch). The rears lasted 12 months approx 10K before needing doing again, the fronts were only 1/2 worn. If you can get tyres at £250 for both rears these days that is a lot cheaper than I went, although the PS2's literally transformed the m3 and I'd not run with anything else.
I'm very glad I had the BMW warranty. Calliper froze which took out the disc & pad = new calliper + replacment discs+pads on the front = £1K - thanks for the BMW warranty. I also had a wheel speed sensor go and quite a few other little things in the 12 months. I think it quite likely you could eat that 1.4K left over from 'servicing' fixing 'stuff'
... of course, none of this factors in catastrophic failure of gearbox/engine, which although rare, does happen.
I loved my M3 to bits, but there is a reason I've not sold my elise to get a M3 for the same price, running costs were horrendous IMO.
To be brutally honest with you, if money is that tight if things go wrong, I'd not commit. Eyes wide open and all that...... + a m3 is a rubbish car to try and put a kid in. Cars should be fun, not a weight hung on your neck, which they can be if you get unlucky/circumstances change.
That said, the rest of the 1.4K could very well be useful for replacing / fixing 'other stuff'
I don't know how these guys get 15K out a set of rears. I bought mine with 5-6mm on the rears, they lasted 6 months, then a full set of PS2's all round (£800. Ouch). The rears lasted 12 months approx 10K before needing doing again, the fronts were only 1/2 worn. If you can get tyres at £250 for both rears these days that is a lot cheaper than I went, although the PS2's literally transformed the m3 and I'd not run with anything else.
I'm very glad I had the BMW warranty. Calliper froze which took out the disc & pad = new calliper + replacment discs+pads on the front = £1K - thanks for the BMW warranty. I also had a wheel speed sensor go and quite a few other little things in the 12 months. I think it quite likely you could eat that 1.4K left over from 'servicing' fixing 'stuff'
... of course, none of this factors in catastrophic failure of gearbox/engine, which although rare, does happen.
I loved my M3 to bits, but there is a reason I've not sold my elise to get a M3 for the same price, running costs were horrendous IMO.
To be brutally honest with you, if money is that tight if things go wrong, I'd not commit. Eyes wide open and all that...... + a m3 is a rubbish car to try and put a kid in. Cars should be fun, not a weight hung on your neck, which they can be if you get unlucky/circumstances change.
Edited by stuthemong on Friday 10th April 11:43
AngryApples said:
jbaddeley said:
Correct. I've just payed £215 for 12 months tax on my 04 M3.
HmmmThe garage I bought mine from charged me £220 for 6 months!
When I looked at the road tax website it seemed to say £220 6 / £400 12 as from 01/04/2009? (for M3 E46 post 2001?)
http://www.direct.gov.uk/en/Motoring/OwningAVehicl...
It's only cars after March 2006 which have to pay £400.
AngryApples said:
jbaddeley said:
Correct. I've just payed £215 for 12 months tax on my 04 M3.
HmmmThe garage I bought mine from charged me £220 for 6 months!
When I looked at the road tax website it seemed to say £220 6 / £400 12 as from 01/04/2009? (for M3 E46 post 2001?)
G Over 225 – for cars registered on or after 23/03/06
12 6
£400.00 £220.00
But band G is the only one this applies to, so where does it say what the rate actually is for pre 03/06 cars?
Paul_M3 said:
AngryApples said:
jbaddeley said:
Correct. I've just payed £215 for 12 months tax on my 04 M3.
HmmmThe garage I bought mine from charged me £220 for 6 months!
When I looked at the road tax website it seemed to say £220 6 / £400 12 as from 01/04/2009? (for M3 E46 post 2001?)
http://www.direct.gov.uk/en/Motoring/OwningAVehicl...
It's only cars after March 2006 which have to pay £400.
I dont think it was intentional, they werent sure and it was me that went to the web and based the amount on what I saw there (not noticing the "after 06'" thing!)
Time for a call methinks!
Edited by AngryApples on Friday 10th April 12:15
Hi all,
Thanks for the feedback most appreicated. Must get involved more on this forum great to have so many good quality replies so quickly
Just went and test drove a 04 model was quite suprised by it. Didnt seem to be as torque-ee as I thought it would have been but loved the sound it made under load
The car I saw had an awsome spec Sat nav, TV, manual, black, chrome alloys, read leather interior - but had done 100K mileage should this be a worry to me it seems way too high.
Agreed re my budgeting I'm hoping not to have to spend anywhere near what I outlined but wanted to base my numbers on high values just in case so I dont get any suprises.
My budget has increased a bit now to £15K but still cant seem to find much out there to be honest. Is this a realistic budget or am I simply being a moron trying to live the dream?
Using autotrader and of course pistonheads are there any other sites that people would recommend?
Re not being great for a baby I agree but its the only "gutsy" car I can find with 4 seats that looks cool goes fast - only other option was possibly an Audi A4 convertible 2.0T but I know it will pale in comparison to the M3 as a drivers car. Unless you have any other suggestions the M3 seems to meet all my needs:
Quick
Reliable - I hope i've now read so much on the web about problems that I'm starting to get worried! Like anything really look for problems youll find them...
Looks smart
People in the know love em
Thanks once again you collectively could save me alot of time and hassle!
Thanks for the feedback most appreicated. Must get involved more on this forum great to have so many good quality replies so quickly
Just went and test drove a 04 model was quite suprised by it. Didnt seem to be as torque-ee as I thought it would have been but loved the sound it made under load
The car I saw had an awsome spec Sat nav, TV, manual, black, chrome alloys, read leather interior - but had done 100K mileage should this be a worry to me it seems way too high.
Agreed re my budgeting I'm hoping not to have to spend anywhere near what I outlined but wanted to base my numbers on high values just in case so I dont get any suprises.
My budget has increased a bit now to £15K but still cant seem to find much out there to be honest. Is this a realistic budget or am I simply being a moron trying to live the dream?
Using autotrader and of course pistonheads are there any other sites that people would recommend?
Re not being great for a baby I agree but its the only "gutsy" car I can find with 4 seats that looks cool goes fast - only other option was possibly an Audi A4 convertible 2.0T but I know it will pale in comparison to the M3 as a drivers car. Unless you have any other suggestions the M3 seems to meet all my needs:
Quick
Reliable - I hope i've now read so much on the web about problems that I'm starting to get worried! Like anything really look for problems youll find them...
Looks smart
People in the know love em
Thanks once again you collectively could save me alot of time and hassle!
Mate,
I've had 1 for just over 24 hours now - buy, if youre careful you wont regret it
Quite simply an amzing car and jack of all trades (comfortable cruiser on the mway, easy to drive around town and a beast on open roads!)
Dont let yourself get frustrated in the buying process, chill, take your time and you will find the right one
At your increased 15k you ought to be able to buy a very decent 53/04 plate with 50k'ish on the clock
You have proved from your annual running budget above that you are being quite realistic about the whole thing, so dont see a problem!
I've had 1 for just over 24 hours now - buy, if youre careful you wont regret it
Quite simply an amzing car and jack of all trades (comfortable cruiser on the mway, easy to drive around town and a beast on open roads!)
Dont let yourself get frustrated in the buying process, chill, take your time and you will find the right one
At your increased 15k you ought to be able to buy a very decent 53/04 plate with 50k'ish on the clock
You have proved from your annual running budget above that you are being quite realistic about the whole thing, so dont see a problem!
Edited by AngryApples on Friday 10th April 15:04
The engine isn't particularly torquey... well in reality it is for what it is, but the car is damn heavy. The engine needs to be revved like a banshee. If you think that hitting the limiter (well shiftin 1-200rpm before it) is bad for an engine, the M3 may not be for you. EVERY SINGLE DAY I had my M3 it was taken to the redline every gearchange when up to temp - it's where all the power is 
15K is a lot more realistic, you could get a very nice model for that. The way I See it, if you buy right, you'll hopefully spend less on it, so you end up spending the same but get a newer, lower mileage car. Of course, no guarantees, you could spend your 15K and have lots of problems... you need to be careful.
On the flip-flip side, there are no particular high mileage worries I'm aware of, you could spend 12K and have trouble free motoring.. I'm not really helping am I
Takehome message is, if £3-4K repairs would bankrupt you, step away. However, this is an unlikely (<5%) outcome. Chances are you'll have to spend a couple K on tyres/servicing/brakes. If you buy well, hopefully the disks will have been done recently - that's your ideal play. If not, just price these things in.
They are fantastic cars. I miss mine.
Other option would be a e39m5. Equally fantastic, and if you want torque and baby carrying then, tbh, I'd be looking there instead.
15K is a lot more realistic, you could get a very nice model for that. The way I See it, if you buy right, you'll hopefully spend less on it, so you end up spending the same but get a newer, lower mileage car. Of course, no guarantees, you could spend your 15K and have lots of problems... you need to be careful.
On the flip-flip side, there are no particular high mileage worries I'm aware of, you could spend 12K and have trouble free motoring.. I'm not really helping am I
Takehome message is, if £3-4K repairs would bankrupt you, step away. However, this is an unlikely (<5%) outcome. Chances are you'll have to spend a couple K on tyres/servicing/brakes. If you buy well, hopefully the disks will have been done recently - that's your ideal play. If not, just price these things in.
They are fantastic cars. I miss mine.
Other option would be a e39m5. Equally fantastic, and if you want torque and baby carrying then, tbh, I'd be looking there instead.
hI bought mine with 35k on the clock and over the last three and a half years did 60k thus sold it with 95k on the clock a few months ago.
I think you're servicing costs are over the top £2k per year is plenty. The most expensive service I had was about £1,000. The problem with these cars is when they go wrong it hurts.
Mine had £3,500 of warranty work carried out on the brakes (a known weak point) and the gearbox. I had an SMG which I wouldn't do again, not that I don't rate SMG it's actually very good ignore Clarkson it's not jerky just takes a bit of getting used to. Problem is that the chances are that it's been abused at some point and that takes it's toll on it.
The other problem I had was with the VANOS. When you start the car listen carefully for a ticking noise before the oil pressure comes up, if you can hear it steer clear it's on the way out. That's a £3,000 repair.
When I sold mine what I realised is you get a lot more car above £15k so I'd spend a bit more and be better off in the long run.
Also with tyres, I used Michelins, Continentals and then at the end sold it with some cheap Kumas to get it through the MOT. Michelins are well worth it, they last longer but really do the car justice. Rears last about 8k, the fronts about 12k, the edges wear pretty quickly though. Kuma's were actually alright but still nowhere near the michelins, contis were complete crap.
As a whole though, they're simply awesome cars. I had an Elise before and it simply didn't compare, it really was that good. I'd recommend you buy one and if you don't like the running costs then sell it after a year. You won't regret it believe me.
I think you're servicing costs are over the top £2k per year is plenty. The most expensive service I had was about £1,000. The problem with these cars is when they go wrong it hurts.
Mine had £3,500 of warranty work carried out on the brakes (a known weak point) and the gearbox. I had an SMG which I wouldn't do again, not that I don't rate SMG it's actually very good ignore Clarkson it's not jerky just takes a bit of getting used to. Problem is that the chances are that it's been abused at some point and that takes it's toll on it.
The other problem I had was with the VANOS. When you start the car listen carefully for a ticking noise before the oil pressure comes up, if you can hear it steer clear it's on the way out. That's a £3,000 repair.
When I sold mine what I realised is you get a lot more car above £15k so I'd spend a bit more and be better off in the long run.
Also with tyres, I used Michelins, Continentals and then at the end sold it with some cheap Kumas to get it through the MOT. Michelins are well worth it, they last longer but really do the car justice. Rears last about 8k, the fronts about 12k, the edges wear pretty quickly though. Kuma's were actually alright but still nowhere near the michelins, contis were complete crap.
As a whole though, they're simply awesome cars. I had an Elise before and it simply didn't compare, it really was that good. I'd recommend you buy one and if you don't like the running costs then sell it after a year. You won't regret it believe me.
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