Why are 'good' E92 M3s under £15K?

[daveofedinburgh]

As per the title; I dont feel *that* much exposition is required...

Ive got £15K(+) to spend on something that wont be a daily, but will be used year-round and fairly regularly. Ill have a slush fund that allows for moderate-large bork should the worst happen. I dont care about parts/ service prices or running costs- lucky enough to not have to sweat about this.

I want something with a 'premium' badge, I want a manual transmission, I want it to make a great noise (and preferably enjoy this with the top down), I want it to be a 'drivers' car. I also want something thats at or close to the bottom of its depreciation curve.

So putting aside the 996 911 that Ive been holding off on for about 3 years now, why WOULDNT I buy an E92 M3?

The only V8 M3 ever made, readily available with a manual gearbox, still sharp looking enough that the layman on the street sees it as a 'modern' car, by all accounts an absolute hoot to hoon about in.

The cursory research I have done suggests there are afew 'common' borks to keep me awake at night, but then Ive been close to pulling the 996 trigger for ages now so its all relative.

Call me naive, but I dont see these getting significantly lower than £15K. No idea if the 'only V8 M3' thing will mean future classic status, but if it more or less holds its value thats a win as far as Im concerned.

So, to my original question; why can I buy an E92 M3 for this kind of money? What (if anything) am I missing?

[roadsmash]

You mentioned driving with the “top down” so I’m guessing you’re looking at the cabriolet? Technically the E93 is the cabriolet.

Not much demand of the cabriolets so pricing is a tad lower... time of year doesn’t help.

If you’re not concerned about running costs or the common faults, as you claim, then you’re missing nothing. You should buy it in my opinion.

If you look at the saloons or coupes there’s not too many decent ones for £15k... more like £20k+.

ETA: I guess it depends what you consider “good”.

Edited by roadsmash on Wednesday 8th January 23:58

[meatballs]

Cheap because the next gen m4 is also really low, the used car market is really low, wrong time of year to sell, and potentially people fearful of engine replacement costs from worn bearings.

Too many about to buy as a future appreciating asset, but towards the lower end of the depreciation curve I would imagine.

[Mr Tidy]

daveofedinburgh said:

I want something with a 'premium' badge, I want a manual transmission, I want it to make a great noise (and preferably enjoy this with the top down), I want it to be a 'drivers' car. I also want something thats at or close to the bottom of its depreciation curve.

I may be wrong, but I doubt the "top down" model is ever going to be a "driver's" car - you generally need a roof so the bodyshell is stiff enough for it to drive as it should.

And Cabrio prices are usually pretty low in January!

But if that is what you want, now is the time to buy.

[cerb4.5lee]

They are getting on a bit now and they are a V8 petrol with the associated running costs, and they are also in the highest tax bracket.

I personally think that they are an absolute bargain currently...especially when you consider that some(me) car enthusiasts moan about turbos/electric steering/a lack of 3 pedal cars/the current obsession with electric and fantastic mpg etc...

Buy one as quick as you can for me!

Edited by cerb4.5lee on Thursday 9th January 00:25

[cerb4.5lee]

Mr Tidy said:

I may be wrong, but I doubt the "top down" model is ever going to be a "driver's" car - you generally need a roof so the bodyshell is stiff enough for it to drive as it should.

I'm the other way and my E92 M3(coupe) was as quiet as a mouse when compared the my brother in laws E93 M3(convertible) exhaust noise wise. So I personally much preferred his to mine. Appreciate what you're saying though.

[daveofedinburgh]

roadsmash said:

You mentioned driving with the “top down” so I’m guessing you’re looking at the cabriolet? Technically the E93 is the cabriolet.

Edited by roadsmash on Wednesday 8th January 23:58

Knew I'd get caught out on that one! I'm far from a BMW fanboy clearly (not intended as a diss @roadsmash by the way).

With regards to the convertible not being a true drivers car, I get it but the trade off of torsional rigidity for increased enjoyment of V8 aural pleasure to me is a worthwhile one. I'd probably do the same were I looking at an E46 M3 (6 cylinders also give great aural pleasure imho- still miss my mkiv Supra!).

Obviously it makes sense to say that the cars are ageing and running a 4.0 petrol V8 will put many off, but as a 37y/o petrolhead I couldn't give a sh*t about that stuff. I think about Greta Thunberg to keep the wolf at the door (so to speak) #alanpartridge .

Glad to hear encouragement from fellow PHers- made this thread as I was concerned that I was missing something with these as they seem such good value. Now second guessing myself significantly less.

I'd be interested in hearing about alternative cars at a similar budget that meet my criteria....

[Wills2]

E36 m3 were as low as 4k e46 m3 dropped 6k the e92 being at 15k after 12 years since launch is pretty good I bought a new one 11 years ago for 39k so that's nearly 40% retention incredible really.

[cerb4.5lee]

Wills2 said:

E36 m3 were as low as 4k e46 m3 dropped 6k the e92 being at 15k after 12 years since launch is pretty good I bought a new one 11 years ago for 39k so that's nearly 40% retention incredible really.

I remember getting quite sentimental with mine when I had it(believe it or not!)...thinking that it was the last NA M3 and the only one with a V8. I also really liked that it was a manual(even though the DCT (arguably) suits it better).

I hoped that it would be worth some money one day(that hasn't happened), but I do agree that they have held their value well for sure.

[Don Roque]

daveofedinburgh said:

I think about Greta Thunberg to keep the wolf at the door (so to speak)

That doesn't read well...

[RSTurboPaul]

Don Roque said:

daveofedinburgh said:

I think about Greta Thunberg to keep the wolf at the door (so to speak)

That doesn't read well...

• snigger*

Would a V10 M5 fall into the 15k budget?

Bork factor is massive, but V10!

[ATM]

So many comparible cars about with prices coming down constantly. Overall the car market is easing off from its dizzy highs. Not everyone has realised this but its happening none the less. Anything modern and available in numbers is depreciating harder than a couple of years ago. There is a good thread here comparing v8 cars so I won't regurgitate.

https://www.pistonheads.com/gassing/topic.asp?h=0&...

[flatso]

Whoever is looking for a 4 seater V8 manual is almost forced to consider these. The saloon version is also attractive.

[Court_S]

flatso said:

Whoever is looking for a 4 seater V8 manual is almost forced to consider these. The saloon version is also attractive.

For me, it’s the best looking of the three body shapes because they rear arches are more prominent.

I think they’re great things. The engine is stunning and I really like them with the DCT gearbox. A quick exhaust mod from someone like PCW releases a lot more sound from the OE system.

[thatdude]

If you get one, and you have some concerns about the big-end bearings, just get them changed for peace-of-mind. It is an expensive job (£1500) but it could save you so much more in the long run. Then keep up regular oil changes and just look after it when cold (half throttle, half revs until oil temp gets up, at least 70 deg.C). Keep on top of the other fluid changes (diff, gearbox - you mentioned manual so it's an easy change, i think they run a gearbox oil cooler as well so be sure to inspect that regularly. DCT is allegedly fill-for-life but in reality that should be changed as well by a reputible workshop that knows how to do the procedure and has done it many times; the transmission pan can warp a bit on some cars apparently causing it to leak, meaning it gets replaced meaning the trans oil gets changed anyway)

Great car to have expensive to run no doubt but they've been around a long long time so home servicing info and common issues are easily researched and carried out if you feel confident with the spanners.

Edited by thatdude on Thursday 9th January 08:14

[Belle427]

I think they are a no brainer if running costs are not a concern for you.
There seems to be a 50/50 love hate split on these on pistonheads.

[AmosMoses]

They will dip sub £10k, the running costs put most people off and with M4 prices tumbling most buyers would go for the newer faster car.

[Albigularis]

AmosMoses said:

They will dip sub £10k, the running costs put most people off and with M4 prices tumbling most buyers would go for the newer faster car.

I don't necessarily think this is true. You'd be cheaper and more reliable to buy a 335i, put a great set of coilovers on it and chuck a few grand into the engine. Could do all that for under 10k easy and the car would be quicker.

An E9x M3 is all about the driving experience, and that's why they're bought IMO.

[Deep Thought]

Albigularis said:

AmosMoses said:

They will dip sub £10k, the running costs put most people off and with M4 prices tumbling most buyers would go for the newer faster car.

I don't necessarily think this is true. You'd be cheaper and more reliable to buy a 335i, put a great set of coilovers on it and chuck a few grand into the engine. Could do all that for under 10k easy and the car would be quicker.

An E9x M3 is all about the driving experience, and that's why they're bought IMO.

+1

And the 4.0 v8.

BUT starting to get close to £10K...

https://www.autotrader.co.uk/classified/advert/201...

Edited by Deep Thought on Sunday 12th January 13:24

[johnwilliams77]

AmosMoses said:

They will dip sub £10k, the running costs put most people off and with M4 prices tumbling most buyers would go for the newer faster car.

this. underwhelming cars, sold mine in 4 months