BMW M3 (E46): PH Carpool
Effort reaps reward for one PHer in the shape of a lovely E46 M3
Car: BMW M3 (E46)
Owned since: 1035am (BST), Saturday September 26th 2015.
Previously owned: 2x Ford Fiesta Mk3, Vauxhall Cavalier 1.7 TD, Rover 400 TD, Alfa Romeo 145 Cloverleaf, 3x VW Golf GTI (Mk2 eight-valve), Toyota Hilux Surf, Subaru Impreza Turbo 2000, Subaru Legacy GTB, Toyota Hilux Double Cab D4-D (current with the M3), BMW 540i Touring (E39).
"I realised I could afford it. If anyone had ever asked me, 'would you like an M3?', I would of course have replied 'yes, please'. I had a couple of fast estates recently to fulfil the entertaining car role, but realised I no longer needed the space for bikes thanks to the Hilux and could get something more fun. I started looking, thinking of a Mk5 Golf GTI or Clio 197/200. Then I realised that E46 M3s were at the bottom of their market, and I could afford one if I saved hard. Research began while I fell further in love with the concept (in particular the high specific output naturally aspirated engine), and after viewing three others, I found my car in autumn. I was nervous on my first test drive, not quite believing I was awake when voluntarily handed the key to a BMW M Division car."
"That they had been so cheap for a year or two already! My research was thorough (thanks in part to the PH buying guide, the M3 cutters forum and shared knowledge from Redish Motorsport's YouTube videos), so I knew how to inspect potential cars for subframe cracks when parked on the street; in fact I spotted two broken ones that way. I had narrowed down my dream spec to something fairly specific (manual, no sunroof, heated red seats and the stereo upgrade), while remaining flexible on colour and mileage. I was aiming at the low- to mid-range of the market so not expecting a low miler, though that has the bonus of meaning I wouldn't be afraid to add plenty of miles and as it happened my car was already just over 100K. The wealth of information has made working on the car very easy, so I can do the servicing and age related maintenance/tidying up with confidence. So far I checked the valve clearances, bled brakes, changed gearbox oil and various other little things. It does seem to be very good for an 11-year old car: there are no rattles, and the ride is good - so much better than some of the rattly older cars I've had - which was a pleasant surprise. It has delivered on everything I'd hoped, meeting expectations on speed (by being jolly fast) and perhaps exceeding the levels of grip and stability I imagined in the bends, especially on tighter roads. It drives superbly, tight, and there are plenty of service and restoration type jobs to keep me as busy as I want."
"I love driving it, I love looking at it, I love working on it. It's hard to get photos of a black car that look great, so sitting looking at it is best, although it is now my desktop background at work too. The owner's manual has a recommendation to use the brakes hard on occasion, and when driving the car quickly you feel it's happy doing it. The engine is keen to spin right up and make that wonderful noise that causes me to giggle, grin, and pat the dashboard every time I'm out enjoying it. The S54 engine is rightly credited as a beaut. I've had endorphin, and rarer adrenaline hits, when driving before but it's been more frequent and more intense in this car. I'm happy to say I've not driven it irresponsibly especially around other road users, and yet it is bags of fun.
"I had a spine tingling feeling of excitement as I reeled in a Cayman the other day on a fun local road, followed by a few miles of brisk and enjoyable driving that ended in pulling up and chatting with the Porsche owner when we caught up on regular traffic. I love how planted and capable it feels even when the windscreen wipers are going non stop, I never imagined a rear-driven performance car would be so good in the wet. I keep it away from salty roads, but was pleased to find it's worth going out in the rain."
Things I hate:
"I can't leave it outside my flat for worrying about it. There are a couple of other cars (a new Polestar V60 and a new modified Focus ST) both vastly more expensive than my M3, and they never seem to suffer vandalism or parking bumps, so despite the central location to the town it would probably be fine. But I can't do it, it stays in the garage across town. That's not a major problem as it's a weekend toy and can sit under a dust cover on charge where I can work on it. That's the best I can do for a hate. I could say I hate traffic lights, speed bumps and anyone else being on the road, but those are general personality traits of mine rather than being in any way related to the car. It was also irritating that the density of cars for sale were far far away from where I live in South Scotland, but that's paid back in all the quiet places to drive and enjoy it. I have a niggle in that the big BMW throttle pedal has it's pivot at the bottom, making it impossible to heel and toe the same way I do in the Hilux (necessitated for smooth changes on a cold 170K+ mile gearbox in the Toyota). So I need to spend some time learning the foot position to get the bonus 'I am a driving god' points."
"It was the first time my insurance was less than the annual road fund licence (turning 30 helped), it was surprisingly cheap to insure. On my rural runs with a few brisk miles and more gentle ones there are over 25 miles covered per gallon (easily over 30 on a steadier long journey). So a little more that the 540 and at greater speeds. I've done the spannering so far, so no labour costs but I do seem to easily get rid of my disposable income by refreshing parts and getting it tip top. Nothing has 'needed' done so far besides a broken exhaust rubber at £20, I'll hope that lasts. Valve clearance check and inspection 2 level service was needed when I got it, as the garage just did the oil, but at £45 for plugs and £7 for the two shims needed didn't break the bank. The fluids cost what fluids cost. There can be big bills, brake discs, pads and tires will be vastly more than for any of my previous cars, but it still seems good value for money and like my older cars before it there should be no depreciation on its value."
Where I've been:
"Kirkstone Pass in the Lakes was great, despite being in November. There are some ideal roads near me that form the basis of its usual outings, favourites being parts of the A702 from Dalry to Abington, and the A712 from Crocketford to Newton Stewart. I have a plan for North Coast 500 run in April which I'm very much looking forward to."
What next?
I'd like to fully restore the underside, i.e. repaint all the metal bits that have surface corrosion. So maybe I can make a start on that over winter 2016. This M3 seems to be a stupendous balance of power, performance, eminence, lineage and affordability meaning I have no current ideas on what could replace it. I've kept a car for around five years before, this is hopefully making a good case to be kept for a while. I'd like to try at some point a cheaper Clio (172/182) and a two-seater, Elise or MX-5 perhaps, but these would need to be part timers or the girlfriend's car. I'd also like to try out a 911 (996 or 997) some time, but really I am very content with my M3 just now."
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In fact, probably the spec I'd have (18" wheels if I'm not mistaken?) other than I'd prefer black heated leather to red.
I wonder how many potential owners forget about the rear subframe issues, which are well documented, in their haste to purchase an M3?
I think I'll delve back into the buyers guide on PH again, and reacquaint myself with the issues that need looking for on a potential purchase, as you have quite rightly said that values are probably at their lowest, and can only head one way, surely.
Again, a good write up (let's hope PH publish my tepid toe concerning my quattro soon - a nudge there to Dan Trent...!!), and it sounds like you and the M3 will remain close friends for a good while.
Lovely cars.
Watch out for leaky self-dimming interior mirrors too, a manufacturing fault - again another cheap preventive solution worth doing IMO
I'd shop around but also check on forums to see who is recommended as I'm sure cheapest isn't always best.
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