Hello everyone - appreciate your help to buy a treat (M3)

[g3org3y]

This is probably one of my happiest posts on PH. I found out yesterday I passed my final professional exam (MRCGP). A massive relief and the culmination of 6 years medical school and 6 years further training.

As such, I think it's time for a treat! Unfortunately, in the meantime I've been doing my best to save as much money as possible for a potential house deposit so my treat can't be 'too exciting'.

My budget is up to 8k.

Essentially I've shortlisted the E36 M3, E46 M3 and E39 M5. I'm tending towards the M3s and tbh (flame suit on) I'd like a cabriolet.

E36 M3
I've always loved the E36 M3, it's the car I grew up lusting over - cabriolet in Estoril Blue. I know my E36s (had a few!) and I'm aware prices are on the increase. I am however concerned that trying to find one in good nick will be difficult (though I'd expect the cabrios to be more pampered/likely second cars). I love the styling, thinks it looks more elegant than the pumped up E46. It has to be an Evo and it has to be manual. Some would suggest they are getting a bit long in the tooth now when compared to the newer models. I did have an E30 cabriolet as a daily for 4 years so I'm not too bothered about that.

E46 M3
I am however aware that the E46 M3 is an overall more complete/better car. I suspect the specification will be higher (more likely to have xenons/heated seats/cruise etc). I do have a couple of concerns. 7-8k is towards the bottom/mid end of the market (though I've seen them as low as 6k), there are plenty of dogs out there and the whole subframe situation concerns me. I know some have been attended to under BMW warranty (10 year window iirc?) but rarely have I seen an advert in which it is mentioned. My understanding is that earlier models had a couple of vanos issues, so I think that means perhaps I'd need to buy a facelift version to be sure these niggles are sorted. What kind of year would one be looking at? Again, manual and cabriolet is the ideal.

E39 M5
Always wanted to own one. Tbh, for me it's the least desirable of the three as I'd like a cabriolet.

I suspect the E36 will be cheaper to run, pre-2001 road tax, only 17 inch alloys (thus sensibly priced tyres). I love the E36 M3, but I can't help feeling that the E46 simply is a step up in terms of quality. Plus I'm on my 3rd E36 now...perhaps it's time to move on.

Would really appreciate your opinions. If on your travels you come across any good examples, do let me know.

Thanks in advance

[Shaoxter]

If you've had 3 E36's already then it probably is time to move on... the E36 M3 isn't going to feel that special and you do feel its weight in cabrio form. However it will be by far the cheapest of the three to run and looks the best (in my unbiased opinion ).

I'd go for the E46 M3 or a Z3M if that's in budget.

[Leins]

Congrats on the exams!

I think now is definitely the right time to be getting into an E36, and something like a clean early 3L M3 appeals greatly to me. I'm not a huge convertible fan myself, but have to admit the E36 does look good with a cloth roof, surprisingly so when it's raised IMO

What about a B3 3.2 though for something a little more "bespoke"?

[Babw]

I was looking for an E36 M3 (evo) last May and frankly gave up after struggling to find a good one. A few specialists I spoke to admitted to good examples being few and far between. Probably the reason that a few are sneaking towards the 10k mark as the genuine examples demand the premium over the many poor ones.

No doubt the E46 will go the same way as demonstrated by owners on M3cutters spending all their hard earned on replica wheels and taking it into their local tractor depo for valve adjustment.

[JsyM3]

Babw said:

No doubt the E46 will go the same way as demonstrated by owners on M3cutters spending all their hard earned on replica wheels and taking it into their local tractor depo for valve adjustment.

Go for the E46 - You won't look back

Nothing wrong with putting reps on, as long as the original alloys are kept too and can be switched back on when selling. In fact putting the originals in storage would stop them getting ruined through general use, salt exposure, kerbing, potholes etc.

I bought my E46 M3 at the beginning of this year and noticed very little mention of subframe/bootfloor work in the adverts. Although, you just need to ask the question and you'll soon find out - Maybe sellers aren't mentioning it, even when it has been fixed, for fear of scaring off buyers who don't know about the issue and could be put off by what sounds like (and is) quite a big job and would lead the uneducated buyer to think the car is falling to pieces??

The subframe repair can be done under warranty if the car is younger than 10 years old. FYI my warranty invoice for the bootfloor replacement/subframe fix was £4.5k so make sure it's been done or can at least be done under warranty!

[Cambell]

If you fancy an E46 M3 Cabrio, go for it. Sometimes, you just gotta scratch an itch !!!

Yes, check the subframe has been done but if there's no issues and you find a nice one, why the hell not?

Make sure it has the toys though, it must have Nav, Harmon Kardon (the standard stereo is just crap) and don't be scared of the SMG its actually fine.

[Froomee]

If you haven't already search over on cutters in the for sale section plenty of decent E46's come up for around £8k although personally I think spending £10k will save you money long term I.e buy one with a recent inspection service, tyres and brakes

[Froomee]

If you haven't already search over on cutters in the for sale section plenty of decent E46's come up for around £8k although personally I think spending £10k will save you money long term I.e buy one with a recent inspection service, tyres and brakes

[g3org3y]

Shaoxter said:

If you've had 3 E36's already then it probably is time to move on... the E36 M3 isn't going to feel that special and you do feel its weight in cabrio form. However it will be by far the cheapest of the three to run and looks the best (in my unbiased opinion ).

I'd go for the E46 M3 or a Z3M if that's in budget.

Thanks for the advice. Z3M would be epic but they are holding their value so well.

Leins said:

Congrats on the exams!

I think now is definitely the right time to be getting into an E36, and something like a clean early 3L M3 appeals greatly to me. I'm not a huge convertible fan myself, but have to admit the E36 does look good with a cloth roof, surprisingly so when it's raised IMO

What about a B3 3.2 though for something a little more "bespoke"?

Thank you.

Yes, I think the E36 is going to see a rise in values soon once the barried ones drop off the map and the decent OEM examples remain.

An Alpina has been considered but I want an M and I want a manual box.

Babw said:

I was looking for an E36 M3 (evo) last May and frankly gave up after struggling to find a good one. A few specialists I spoke to admitted to good examples being few and far between. Probably the reason that a few are sneaking towards the 10k mark as the genuine examples demand the premium over the many poor ones.

My thoughts too. I remember a couple of years back E36 M3s were in the 3-4k bracket, really unloved and undermaintained.

I'm hoping by looking for a cabrio they are more likely to be pampered second cars.

Cambell said:

If you fancy an E46 M3 Cabrio, go for it. Sometimes, you just gotta scratch an itch !!!

Yes, check the subframe has been done but if there's no issues and you find a nice one, why the hell not?

Make sure it has the toys though, it must have Nav, Harmon Kardon (the standard stereo is just crap) and don't be scared of the SMG its actually fine.

The E46 M3 appeals as I absolutely agree it will be the overall 'better' car (as expected). It'll also have more toys (Xenons, heated seats, cruise etc).

However I wonder whether 5k would buy a better E36 M3 than an E46 M3 at 8k. E36 M3 I suspect would be cheaper to run (17 inch tyres vs 19s for a start!)

Decisions decisions! Appreciate everyone's advice.

[evojam]

An E36 M3 won'nt be cheap to run if you maintain it 'properly' hence why many have now ended up in knackers alley with mega miles and worth peanuts..

[muzza289]

Shaoxter said:

If you've had 3 E36's already then it probably is time to move on... the E36 M3 isn't going to feel that special and you do feel its weight in cabrio form.
.

this always makes me chuckle when i see this sort of comment.

Yes, my 18 yr old E36 M3 Evo convertible can be beaten off the lights by most modern hot hatches now and the modern diesels give it a hard time on the dual carriage ways. But on a twisty A road (even being a cab) it's more than adequate against the modern stuff, and a more involving drive.....if you want that sort of thing....and it is an 18 yr old car!

But compared to an E46 'full fat' cabrio with all the gizzmos, sat nav, heated elec seats, elec roof etc etc...believe me there is nothing in it. Yes the E46 is a much more rounded car as a day to day proposition - but it's heavy and performance between the two is marginal as the E36 is much lighter.

i drive my E36 M3 Evo daily (estoril blue, black leather) and i rarely see another on the road. E46s they are everywhere!

[Shaoxter]

muzza289 said:

Shaoxter said:

If you've had 3 E36's already then it probably is time to move on... the E36 M3 isn't going to feel that special and you do feel its weight in cabrio form.
.

this always makes me chuckle when i see this sort of comment.

Yes, my 18 yr old E36 M3 Evo convertible can be beaten off the lights by most modern hot hatches now and the modern diesels give it a hard time on the dual carriage ways. But on a twisty A road (even being a cab) it's more than adequate against the modern stuff, and a more involving drive.....if you want that sort of thing....and it is an 18 yr old car!

But compared to an E46 'full fat' cabrio with all the gizzmos, sat nav, heated elec seats, elec roof etc etc...believe me there is nothing in it. Yes the E46 is a much more rounded car as a day to day proposition - but it's heavy and performance between the two is marginal as the E36 is much lighter.

i drive my E36 M3 Evo daily (estoril blue, black leather) and i rarely see another on the road. E46s they are everywhere!

I have the same car as you

While I do love my E36 M3 Evo, I bought it because I love the looks and in anticipation of it rising in value (and also a small project to work on). Looking impartially however, you would have to say that it's the least M-car like of those under the OP's consideration.

[g3org3y]

evojam said:

An E36 M3 won'nt be cheap to run if you maintain it 'properly' hence why many have now ended up in knackers alley with mega miles and worth peanuts..

I agree. Maintenance costs aren't an issue, but I feel the E36 will be cheaper than the E46.

Is the subframe issue associated with the E46 a case of 'when' rather than 'if'?

Shaoxter said:

I have the same car as you

While I do love my E36 M3 Evo, I bought it because I love the looks and in anticipation of it rising in value (and also a small project to work on). Looking impartially however, you would have to say that it's the least M-car like of those under the OP's consideration.

But it's the one that tugs on my heart strings the most. It may be childhood nostalgia, but damn this looks good:



In my opinion, much more elegant and understated than the E46.

[evojam]

I've had my Evo saloon for 8 years now and will be keeping it for many years too come,must admit I did look into replacing it with an E46 M3 but just could'nt bring myself to part with my saloon as it's been such a good allround car and I do prefer the looks of the E36.Another thing is the E46 is much more common,not a day goes by when I don't see a few E46's M3's out and about but I cannot actually remember the last time I saw another E36 M3 saloon on the road,I think the last one I saw was at the Ring about 5 years ago!!

A comment has been made that the E36 M3 will be beaten off the lights by a modern hot hatch these days well I've definetly found that not to be the case..launched properly a good healthy E36 M3 Evo will still rocket to 60 in a little over 5 seconds and hit 100mph in just over 12 seconds,not many hot hatches will do that! there's still life in the old girl yet!!

[g3org3y]

^Agree. There's something refreshing about the well cared for E36. I think the E46 M3 is now the 'bruv' car of choice.


Thinking a bit laterally, what about a Porsche Boxster S? Surely a decent one can be found for 7-8k?

[evojam]

g3org3y said:

^Agree. There's something refreshing about the well cared for E36. I think the E46 M3 is now the 'bruv' car of choice.


Thinking a bit laterally, what about a Porsche Boxster S? Surely a decent one can be found for 7-8k?

lol,I run a 987 Boxster 2.7 as an everyday car and have just returned from a 2500 mile road trip in Europe,superb cars and please don't discount the 2.7 in favour of the 3.4S,I find the 2.7 more than adequate for road use although the power junkies will always want more and it's fun to wind it up and I saw over 150mph on quite a few occasions during the many autobahns we did,just make sure you look at a few and find a good one!