Purchasing an E46 M3?

[MauiM3Mania]

Knowing what you know now, if you were a first time buyer and considering the purchase of used E46 M3, what would do to be sure that your did not get burned?

[WytLytnyn]

I would read through the stickied threads at the top of this forum to get a view from those who own these cars about what is involved with purchasing, running and maintaining them.

[MauiM3Mania]

I would read through the stickied threads at the top of this forum to get a view from those who own these cars about what is involved with purchasing, running and maintaining them.

Nice thread plug.

Even though I consider myself somewhat mechanically savy, if I were considering a used E46 M3 a Pre Purchase Inspection would happen.

If you don't know a mechanic/garage which would have your interests in their mind, research/find a good independent shop which is qualified to give a thorough and detailed inspection and report of the car.

A PPI will cost a few bucks, could find an expensive issue which could be costly, prolly sooner than later.

[turbospool]

i made sure i had proper maintianence records. everything was well kept and i still had to spend some on stuff that came up. your better off just waiting for the exact color combo u want dont compromise it will haunt you. get a traditional 6spd. i hated the smg... to each thier own.

[BKarktic328i]

For me, I put color and the choice between 6MT/SMG behind condition/maintenance history/mileage/price, etc. Only after I was satisfied with the latter, did I seriously consider. I never thought I would like/end up with an SMG car, but after having it for about a month, I LOVE it.

I also did a PPI (best 120 bucks I spend when seriously considering a car...I'll even do it on 2 that I'm seriously considering), where 99% of the time, the tech is happy to walk around under the car with you etc. I always ask this question to the tech: If you were in the market, and this car presented itselft for (insert your negotiated price here), would you buy it? Its interesting to see them think about it in this light, as it becomes personal reallly quick!

Also, I had no idea how noisy, grumpy, etc these things can be, especially cold and even upon startup on warm mornings...so I thought for sure it had "issues". After talking to several owners both live and here, I've beccome MUCH more comfortable with the "quirks".

[WytLytnyn]

For me, I put color and the choice between 6MT/SMG behind condition/maintenance history/mileage/price, etc. Only after I was satisfied with the latter, did I seriously consider.

+1

[Eric98Sedan]

Knowing what I know now, I would not buy one. While they are indeed outstanding cars, the massive increase in initial/maint costs vs. the 'lesser' 36 chassis far far far outweighs any theoretical improvement in performance.

And this is coming from a hardcore gearhead who never let's anyone else touch his car(s). (read: I do all my own maint)

I'm not intending to sound negative at all, but when you've got both cars available to drive at will, the 46 tends to seem like nothing but a money pit.

[smaglik]

out of curiosity, what were the specs on yours when you bought it? I have owned 2, and my experiences couldnt be further from yours, from the sounds of it (so far, I guess).

[Eric98Sedan]

One owner 53k. Needed brakes and rtabs.

It's not that these cars break often, it's just that everything costs twice as much: insurance, gas, tires, parts and the vehicle itself. I am able to afford the car, I just don't want to.... now that I do.

Not a single SMG glitch though so far (knock on wood), who knew!!

[MauiM3Mania]

What about mileage?

Are there certain parts or systems in the car that go bad at say, 50k, or 100k miles... along with a big repair bill?

Who has higher mileage cars? What sort of issues have come up?

I'm at 27k and the worst that has happened to me is the auto-dim rearview mirror went bad.

[Eric98Sedan]

The only thing big I see happening is the clutch. I would expect somewhere between 75-100k. And probably an SMG pump at some point.

Otherwise these cars seem to be pretty solid.... but they're impossibly complex, so who knows down the road.

[OxfordM3]

Knowing what I know now, I would not buy one.

I understand why you say this though, doesn't make sense to own one if you have a good example of an e36 in the garage. However, the e36 can become a money pit as well, once the miles are racked on. On my e36 M3, the cooling system, brakes/rotors, rear shock towers, power steering lines, suspension all needed an overhaul from 80k-100k. Of course all those issues would cost hundreds more to address on the e46.

My recommendation for those who want to own an e46 would be to try to buy the most recent model year you can afford. Preferably one that is still under factory warranty or CPO-ed.

These cars are stout and hold up well but peace of mind is worth the extra money.

[nick325xit 5spd]

I understand why you say this though, doesn't make sense to own one if you have a good example of an e36 in the garage. However, the e36 can become a money pit as well, once the miles are racked on. On my e36 M3, the cooling system, brakes/rotors, rear shock towers, power steering lines, suspension all needed an overhaul from 80k-100k. Of course all those issues would cost hundreds more to address on the e46.

My recommendation for those who want to own an e46 would be to try to buy the most recent model year you can afford. Preferably one that is still under factory warranty or CPO-ed.

These cars are stout and hold up well but peace of mind is worth the extra money.

Peace of mind on the off chance of failure seems to cost something like what it would cost to pay for a new engine out of pocket. Seems like a false economy to me.

[OxfordM3]

Peace of mind on the off chance of failure seems to cost something like what it would cost to pay for a new engine out of pocket. Seems like a false economy to me.

How many issues did you have with your SMG? Who picked up the bill and how much was it?

My car has the factory warranty + 2 additional years of coverage, and the maintenance warranty. After calculating charges for inspections, oil/brake changes, random things going out (rear view mirror, window regulators, window trim, ect) and comparing them to what I paid for the car, it was definitely worth it for me. Just my experience.

[smaglik]

i paid 23.5 for an 02 with 30k on it. no warranty. it would have cost me easily 5k more, if not 8-10k more, at the time (dec 08) to get one with similar miles and a warranty.

that is a lot of breakage before i'd reach the break even point on that...

[Eric98Sedan]

I understand why you say this though, doesn't make sense to own one if you have a good example of an e36 in the garage.

Well after 3 e36 M3s I figured it was time to try out the big bad 46. I was intrigued by its technology, style and class. Don't get me wrong, the E46 M3 is about as good as it gets, period, but I've learned that expensive cars are just not for me..... I think I expect too much and then am easily let down.

It's funny you mention peace of mind... because that's probably my biggest gripe with this car... that fact that I never seem to find peace of mind due to its complexity. So many sensors and very little literature makes for an uptight owner. I mean, the car doesn't even have a throttle cable for christ's sake... when's that gonna break??

In contrast the 36 never worries me, even if it does break, because it's cheap to fix and very straight forward (read: way less complex.) I don't worry about thowing it around the auto-x course or tearing up the canyons. Is the 36 better? No. Is it maybe more enjoyable to own and tinker with? You bet.

[WytLytnyn]

I understand why you say this though, doesn't make sense to own one if you have a good example of an e36 in the garage. However, the e36 can become a money pit as well, once the miles are racked on. On my e36 M3, the cooling system, brakes/rotors, rear shock towers, power steering lines, suspension all needed an overhaul from 80k-100k. Of course all those issues would cost hundreds more to address on the e46.

My recommendation for those who want to own an e46 would be to try to buy the most recent model year you can afford. Preferably one that is still under factory warranty or CPO-ed.

These cars are stout and hold up well but peace of mind is worth the extra money.

+1 I traded my E36 M3 in on this one because it was showing signs of valve guide wear at 172K miles. It made no sense to keep dumping money into the car when I could get the E46 at the price that I did.

Also, my insurance actually went down slightly due to more safety features.

[rcjr12]

I need some information about what year of an M3 would be best for me. I plan on commuting roughly 300 to 350 miles a week. Also how many miles is too many for a used M3.

[smaglik]

welcome to the forum. utilize the search feature, as this topic has been covered en masse. also, you might want to take the time to read the first few posts in a thread, to make sure your comments fit there. In this case, they dont. this is a thread to post advice after you bought one.

again, welcome.

[tj323i]

This section of the forums has been amazing for information regarding e46 M3's.

I'm going out Monday after work to look at a an '02 Blk/Cinnamon 6MT M3 with 48k for $19,000.

I think I've printed out like... 30 pages of information to run through tomorrow while I prep. Great section and tons of information (even without the search tool).

+1 for the stickies!

[wombat676]

i bought mine at 63k miles and ive had to put a new clutch trailing arm bushings and now a new 1200 fix on the engine

[RDD]

Knowing what I know now, I would not buy one. While they are indeed outstanding cars, the massive increase in initial/maint costs vs. the 'lesser' 36 chassis far far far outweighs any theoretical improvement in performance.

And this is coming from a hardcore gearhead who never let's anyone else touch his car(s). (read: I do all my own maint)

I'm not intending to sound negative at all, but when you've got both cars available to drive at will, the 46 tends to seem like nothing but a money pit.

...looks like you E46'd yourself anyways...

[MegamanDS]

Can someone please explain to me if I am in the market for a 2002, 2003 M3, I heard that I should make sure that they are up to date because they changed some things at the end of 03, so there is an 03.5? How can I tell if the seller did these updates?

I am looking at an 03 LSB with 40k miles. I just want to make sure that when I check it out, he has done these updates. If he has not done them, is it too late to update it or can I still do whatever needs to be done?

[seeandbe]

i would DEFINITELY get a car inspection done, just to give me some peace of mind. companies like aim mobile inspections and carchex offer this service, and it's surely a small price to pay for quality assurance.

[CMG]

How many of you stepped up from E36 M3? I've been thinking about making the jump for the last 6 months. It's about time for an engine rebuild and steering rack so if I sold all my E36 stuff and used what that would have cost I could get an E46 M3 easy. I'm still trying to figure out what the long term costs for each would be, but as Eric said I'm leaning on sticking with the E36 due to way lower parts cost and DIY factor.