Hey guys,

As some of you may know, I'm planning on picking up an E46 M3 in May. After talking to Luis and a few other members, I've decided that SMG isn't for me. I have a budget of around $20K to pick one up and I've been able to find every year from 01's to 04's in my price range. I really like the idea of having the Nav system (since I've never had a car with Nav before) but finding M3s that have a 6 speed AND Nav system is proving to be very difficult. It's even harder to find one in my dream color combo of Steel Grey over Imola or Carbon Black over Saddle.

So, here are my questions for you guys who have owned E46 M3s:

-How important is mileage in terms of reliability? Obviously, more problems will arise at high miles but generally, when do some big problems start to occur? With my budget, most already have 60-80K on the odo.

-How good is the Nav system? I've heard the 02-newer Nav with the bigger screen is considerably better. As I mentioned before, I think it'd be a cool option to have (especially because I plan on flying out to pick up a car and driving it halfway across the country if necessary) but would any of you consider it a necessity? Would I be better off with a Garmin or something similar for <$200?

-How hard are M3s to work on? As an Automotive Engineering major, I feel pretty capable of doing a lot of work on the car myself and will probably have access to scan tools and possibly a lift. Will it be hard to source parts (aside from costing quite a bit of $$$)?

-Am I an idiot for wanting to drive one 1000+ miles if I pick one up sight unseen? I'll make sure to get a PPI and run a CarFax on it first.

-Does anyone know of any clean M3s for sale?

Any and all feedback will be useful! I appreciate all your help, guys!

 

By the way, I found these two on eBay that had me really interested:

2002 M3, Carbon over black, ~81K miles, Nav, Dinan mods, asking $18.2K

2003 M3, Steel Grey over Imola, ~61K miles, asking $18.5K

Although both of these will probably be sold long before I'm actually ready to buy, these are both examples of cars I'm looking at.

 

That's exciting Alex, good luck in your search!

By May many of 25k cars will be at 20k so you should perhaps aim for no more than 40,000 on the clock...

 

I think its a great time to pick up an E46M3... I haven't had one but I looked very seriously and have a couple of friends who have had them. The nav system isn't that big of a deal. I'm with you, I like the look of the interior more with it, but it shouldn't be a deal breaker especially if you find one of your combos without it.

Mileage would be a big deal for me, unless it was a single owner car that I knew had been babied I'd stay as low as possible on the mileage...

As for working on them they aren't too complicated for the basics. I took 3 years of auto shop in high school so I'm no expert but have helped friends with brakes, oil changes, Intakes, and some other basic stuff. You also have the good fortune of a car that has thousands of detailed online DIYs.

They are awesome cars. Good luck with the hunt, I'd say find one under warranty but at your price point that'll probably be tough.

Oh and steel grey/imola > carbon black/saddle, especially on a used car CB cars tend to show their age a bit more.

 

I'm in pretty much the same position as you and looking at similar cars (M3s, Mini Coopers, and tempting 80s era 911s).

I have mixed feelings on mileage. A better gauge for myself is condition and owner/service history. I would have no problem buying a car with 60k miles if it truly is a clean car and has been maintained properly. However, I've seen '02-03 cars with 30-40k along with impeccable history price around low 20s, so you can definitely have both.

Navigation wise, I suppose it's a plus for me as well, but it's definitely not a deal breaker. You're probably better off finding exactly what you want and just buy a $100-200 Garmin unit. It will be more up-to-date and intuitive than the 6+ yr old oem system anyways. Bought my dad one for Christmas ($100, just using it for rentals and trips) and it's simply amazing what it does for the price.

I can't comment on the workability aspect, but I would imagine with your background it wouldn't be a problem. I don't know for sure as I haven't researched it thoroughly, but parts are somewhat easy to come by and not insanely expensive. There are a few good online resources that stock oe stuff (can't remember the names off the top of my head).

PM .: Raul for a CarFax He's helped me out many times before. But yeah, a PPI would need to be done before I would travel a long distance to see it. No better way to get acquainted with your new car than driving 1000 miles home!

I remember seeing a steel grey/imola for sale somewhere, not sure the specifics but will look in to it and send you a link.

 

The only problem I have with higher mileage M3s is that the leather seats age horribly. I have a seat fetish. I can't help myself.

 

see this one?... kind of high miles but looks to be in good shape... ^^ and I feel the same about seats... these look pretty good.

Cars For Sale: Car Details - AutoTrader.com

And he'd probably let it go for $17k

 

The good thing about black interior is that if the seats to get pissed on, you can always throw in a roll bar and some recaros and still match.

 

This is definitely a buyer's market and prices will continue to go down as the year goes on. Speaking of reliability a 6MT is a good idea because problems with SMGs begin to arise on cars with a lot of miles. However, for the money that you would spend on an example currently, its a hell of a car. I would try and have a dealer or BMW specialist look over the car prior to purchase, just so that you know what will go first and the real car's real condition.
PS - I'm a big fan of black interiors on cars with a lot of miles or that you intend to have for a while because they seem to age better than most other colors.

 

Cars For Sale: Car Details - AutoTrader.com