E46 M3 vs M235

E46 M3 vs M235

Author
Discussion

J4CKO

41,499 posts

200 months

Friday 14th February 2020
quotequote all
Type R Tom said:
Don't know if you care but the M3 will likely stay the same value or maybe increase, the M235 is likely to still lose a bit.
But, M3 is more likely to perhaps have old car issues plus the whole floor and Vanos type issues.

Ralph S3

354 posts

253 months

Friday 14th February 2020
quotequote all
I have had both. In fact I sold my M3 to buy an M235i.

I have never forgiven myself for selling the M3, I had it 4 years. I sold the M235i after 9 months because I was bored with it. Make of that what you will

The M235i is a good car and has a great engine. However, and I don't mean to offend any M235i owners here, it always felt like an expensive engine in a cheapish hatch (I'm comparing a BMW hatch to a top end BMW here, I don't mean to suggest that it's like a Hyundai i10..!!). Also, the turbo engine is so capable that there was little drama as you accelerate into licence busting territory. It needs a limited slip diff as the ESP can be intrusive. It is obviously more modern, has better tech and is cheaper to run.

The M3 engine is epic. I never tired of the noise as you head to 8000 revs. Ultimately a little slower than the M235 but oh so much more fun. It will cost more to run with fuel and servicing. Also, check it's had the rear subframe done, if it hasn't failed it most likely will. Also, rust could be an issue. Ultimately I sold mine because i could see a few areas (wings mostly) showing the tell tale signs of rust coming through and I can't be bothered with that.

Ralph

highway

Original Poster:

1,946 posts

260 months

Friday 14th February 2020
quotequote all
Ralph, that’s really useful. The M3 I’m talking about has had those issues addressed along with the boot floor problem as well. The spec is Below-

Factory options
Windscreen with green shade band
Electric glass sunroof
Armrest
Single disc CD player
Harmon Kardon Hi-Fi
High gloss shadown line
19" M souble spoke alloys (see below re genuine CSL alloys)

Exterior
Paintwork is excellent. A couple of stone chips on the bonnet but otherwise immaculate
New BMW front wings in 2019 with front bumper respray at the time
New genuine windscreen installed by Glassman
New side repeaters
New rear boot M3 badge
New inner rear lights
Paint correction and Gtechniq Crystal Serum Black upgrade
Subframe repair (v small <1cm crack found) by Biddenden Motor Works using Reddich reinforcement plates
Side mirror glasses replaced (Mirrorjohn)
New genuine euro exhaust tips and rivets
New bonnet pins and catches
New front fog lamps

Wheels & Tyres
  • *The car is offered with the original wheels (refurbished and immaculate with Michelin Pilot Sport tyres) ***
The CSL alloy wheels and Michelin Pilot Sport 4 S tyres in the photos are available by separate negotiation

Interior
In general, the interior looks like that of a new car
Leather seats retrim in black nappa leather by ‘Dave the Trimmer’
Royal Steering wheels retrim in black nappa leather, 2mm thicker, M stitching
BMW City mats in anthracite with genuine black nappa leather edging
F10 M5 illuminated gear knob
Rear view mirror repair for typical leaking auto dim glass
Any interior trim showing wear has been replaced with new; Centre console, drink holder, oddments tray, ashtray instrument panel, ash tray lid
Driver’s and passenger’s airbag recalls completed by BMW
Genuine remote boot release fitted in driver’s footwell
Rear shelf retrimmed as the old one looked sun bleached (they all do that Sir)
Genuine BMW boot liner

Mechanical
Eventuri carbon fibre air intake (original included in sale)
Evolve remap to 357bhp
New gearshift bushes
Short shift gear change
Air conditioning cleanse and regas
New alternator (Valeo A1965 OE)
New LUK dual mass flywheel, clutch and clutch fork (5k miles ago)
New diff bushes front & rear
New rear trailing arm bushes
New Bosch Air Flow Sensor
New coil packs
New engine mounts, gearbox mounts, power steering hose
Vanos rebuild
Evans waterless coolant (lasts the life of the car)
Bosch S5 096 battery
New steering coupler and bolts
BMW Purple Tag steering rack

Brakes
BMW Performance (Brembo) 6 piston front calipers
Porsche (Brembo) 4 piston rear calipers finished to match the fronts in colour
(Original brakes included in sale)
Brembo Sport front & rear pads
Braided hoses
Genuine ATE Drilled CSL front brake disks
Genuine BMW rear disks
Motul RBF600 brake fluid

Suspension
Bilstein B4 shock absorbers
New Lemforder front wishbones
New Lemforder track rod ends
New Lemforder rear suspension arms
New Lemforder front anti roll bar links
New genuine bump stops, top mounts, spring pads

Audio
BavSound Soundplicity Control III iPod Bluetooth iPhone integration (music and phone)
BavSound Stage One speaker upgrade
Genuine microphone for handsfree use integrated into head lining
Kenwood KFC-WDA69RC custom sub in original HK location in parcel shelf
Dynamat sound deadening of rear shelf and doors
BMW (Becker) CD54 Professional CD head unit with Carphonics Stage II amp upgrade
Rear Harman Kardon speaker covers replaced
Vehicle tracker


I’m conscious it’s strong money but the miles are low and it sounds like a totally resolved car. The 235 is going to cost a lot less but I’m leaning towards the older car.

Beato

256 posts

125 months

Friday 14th February 2020
quotequote all
E46 M3 for the win. If you can afford to buy one and have a good annual budget for repairs go it. A car you can drive 100%

I’ve had two and I do miss my old CS. SMG But totally acceptable!

Now have an F80 and just can’t drive it the same way as I’d be off the road

Can’t see a 235 being a patch on the E46 despite the newer tech

Court_S

12,903 posts

177 months

Saturday 15th February 2020
quotequote all
Ralph S3 said:
I have had both. In fact I sold my M3 to buy an M235i.

I have never forgiven myself for selling the M3, I had it 4 years. I sold the M235i after 9 months because I was bored with it. Make of that what you will

The M235i is a good car and has a great engine. However, and I don't mean to offend any M235i owners here, it always felt like an expensive engine in a cheapish hatch (I'm comparing a BMW hatch to a top end BMW here, I don't mean to suggest that it's like a Hyundai i10..!!). Also, the turbo engine is so capable that there was little drama as you accelerate into licence busting territory. It needs a limited slip diff as the ESP can be intrusive. It is obviously more modern, has better tech and is cheaper to run.

The M3 engine is epic. I never tired of the noise as you head to 8000 revs. Ultimately a little slower than the M235 but oh so much more fun. It will cost more to run with fuel and servicing. Also, check it's had the rear subframe done, if it hasn't failed it most likely will. Also, rust could be an issue. Ultimately I sold mine because i could see a few areas (wings mostly) showing the tell tale signs of rust coming through and I can't be bothered with that.

Ralph
I think that’s a fair summary; the E46 M3 is a halo model whereas the 235i is more akin to an E46 330; a regular car with a big, powerful engine. Also agree re the effectiveness of the engine; it’s very very easy to get to illegal speeds and feels effortless doing it, there’s no sense of drama. I really like my M140i but I’m fully aware of its limits but I bought it ad a daily driver, to lug mountain bikes about and entertain when I want it to. And it largely fills the brief well.

It you want a modernish, fast coupe that won’t break the bank in running costs and easily soak up decent daily mileage then the M235 is probably hard to beat. If you want something that doesn’t get used as much but feels special and makes a lovely noise and engages you, then the M235 won’t do that but the M3 will.

thegermancarguy

126 posts

109 months

Monday 17th February 2020
quotequote all
Subframe isn’t a huge bill to repair/reinforce - around £1k or even less.
Front wings cost around £300-350 each from bmw so again not a big deal if there’s some minor rust there - after all the newest ones are 14 years old and the oldest 20.
Vanos repair again isn’t as big as people say. Get a good e46 and it should t give huge issues. And yes they will only appreciate in value unless you buy a big miler. There are loads of people out there who have owned e46 m3s without huge bills, u just hear of the ones who ended up buying bad apples and spent a few thousand.
I’ve owned a few over the years- you need £15k for one with around 80odd k miles in top condition with subframe/some other bits done.
If you want a sub 50k miles manuL coupe with subframe done, no rust and all history with paperwork you’re gona pay over 20k easily.
Most low mileage cars probably won’t have big jobs as they haven’t needed to yet.
My coupe is low miles with fbmwsh and hadn’t had the big stuff done because it doesn’t need it.

rassi

2,451 posts

251 months

Tuesday 18th February 2020
quotequote all
Did the M3 have the rod bearings replaced? From the extensive list of upgrades and maintenance that would be a factor for full enjoyment of the S54 engine

anonymous-user

54 months

Tuesday 18th February 2020
quotequote all
Was looking under an e46 m3 yesterday on the ramp. Leaking diff, in for a headgasket replacement and they really can look crusty underneath.

No chance I'd want to pay what is nearly M2 money for one., even at half that.........

xjay1337

15,966 posts

118 months

Tuesday 18th February 2020
quotequote all
thegermancarguy said:
Subframe isn’t a huge bill to repair/reinforce - around £1k or even less.
Front wings cost around £300-350 each from bmw so again not a big deal if there’s some minor rust there - after all the newest ones are 14 years old and the oldest 20.
Vanos repair again isn’t as big as people say. Get a good e46 and it should t give huge issues. And yes they will only appreciate in value unless you buy a big miler. There are loads of people out there who have owned e46 m3s without huge bills, u just hear of the ones who ended up buying bad apples and spent a few thousand.
I’ve owned a few over the years- you need £15k for one with around 80odd k miles in top condition with subframe/some other bits done.
If you want a sub 50k miles manuL coupe with subframe done, no rust and all history with paperwork you’re gona pay over 20k easily.
Most low mileage cars probably won’t have big jobs as they haven’t needed to yet.
My coupe is low miles with fbmwsh and hadn’t had the big stuff done because it doesn’t need it.
I love a good project car (see my build threads) but that just seems a pain in the ass.
It's certainly not a car that you can expect to not have major bills with though - you may be OK, then fine.
But for £20k+ you are into M2 money and no matter what anyone says an M2 is better than an E46 (of course in my opinion smile )

Also the cult status of them down to some collectors and die-hard enthusiasts pushes up the values to beyond what they are worth. Nice cars but not worth £20k . But if you're looking at it as an investment then.... smile

thegermancarguy

126 posts

109 months

Tuesday 18th February 2020
quotequote all
Good point- the m2 would be faster, more refined, upto date tech and nicer interior. But you are comparing cars that are like 15 years apart atleast.
I would buy a low mileage e46 m3. If you know what to look for they aren’t huge money pits.
They’re going up slowly every year. Otherwise just get an m2/140i/335i etc etc

The Ferret

1,147 posts

160 months

Tuesday 18th February 2020
quotequote all
I owned a manual E46 M3 for 4 years and drove it daily, so got to know it inside out. Fantastic cars, bags of character - the engine is a screamer and yet it can happily transport the wife and 2 kids plus a boot full of essentials.

Genuinely regretted selling it, and it's the only car I've ever felt that way about.

That said......sorry about this next bit.....£25k is absolutely ludicrous for any E46 other than a CSL. At that price, you pretty much have the pick of the entire E92 market. You could pick up a late comp pack car with low mileage and rod bearings replaced, with an amazing V8 engine.

You could also dip into the lower end of the M4 market for something far more capable.

I get the love for the E46, and I still have a lot of regret selling mine, but IMO owners are in dreamland with their pricing a lot of the time. For me that car is £5k - £10k over priced in the real world. If its a forever car then maybe you could justify it, but if your hoping to see that kind of money for it in the future I'd be very cautious.

thegermancarguy

126 posts

109 months

Tuesday 18th February 2020
quotequote all
E9x prices have been tumbling for some time and you could get a comp pack for £25k. CSLs haven’t been £25k for several years.
A lot of older cars sell for crazy money not because they’re worth it. E30 m3s are not worth anywhere near the prices they’re at. Neither r almost all older cars. It’s just that the market for iconic cars is strong and always will be. Otherwise a new model every 4-5 years is the best bet.
If you like a certain model, buy the best one you can afford. For me the e46 m3 is fun 4 seater which still looks good, performance is decent and is fun to drive. I’m sure a brand new 3.0 diesel 3 series m sport does a lot of things better though. But that isn’t the point.

highway

Original Poster:

1,946 posts

260 months

Tuesday 18th February 2020
quotequote all
Interesting comments. Regarding values, things become very emotive. I sold my 993 a few years ago now. It was subject to a carpool feature here. Had some adventures in it and I owned it a long time.

Personally I don’t think they are worth near the prices currently being asked. I was paid a lot for mine and I can say with total honesty I would never have paid that money for it. However, whilst that remains my personal opinion, I’m well aware that many don’t agree. Hence to buy a good one you are now paying in the £50’s.

Similarly, I can see the response of former E46 M3 owners of the firm opinion they aren’t £25k cars- that’s using the car i referenced here as example. If you owned one and sold it for low teens or less some time ago, I can see how you would struggle to reconcile the same model at over £10k more.

As will all specialist cars , there is a difference between the best available and all the others.

BMW are unlikely to make another engine like the S54 ever again. That’s quite special of itself and I can see why a low mileage car is sought after.

But there are good points about the the modernity of the 235/M2 as well. Not least of which, as I well know, regular spending on an old car- as well as regularly dancing the specialist boogaloo, is not fun at all.

I’ve seen similar arguments made out as the best 993 prices converge with 991. I know what decision I’d make given that choice. Undecided yet but a good place to be.

CRA1G

6,521 posts

195 months

Tuesday 18th February 2020
quotequote all
I have both E46 M3 Manual and M325 auto, Two totally different to compare imo, I use mine for different reasons along with a few others inc a V8 and i8 but both very capable cars and a nice E46 M3 Manual will only go one way now £UP.....driving

The Ferret

1,147 posts

160 months

Tuesday 18th February 2020
quotequote all
thegermancarguy said:
E9x prices have been tumbling for some time and you could get a comp pack for £25k. CSLs haven’t been £25k for several years.
A lot of older cars sell for crazy money not because they’re worth it. E30 m3s are not worth anywhere near the prices they’re at. Neither r almost all older cars. It’s just that the market for iconic cars is strong and always will be. Otherwise a new model every 4-5 years is the best bet.
If you like a certain model, buy the best one you can afford. For me the e46 m3 is fun 4 seater which still looks good, performance is decent and is fun to drive. I’m sure a brand new 3.0 diesel 3 series m sport does a lot of things better though. But that isn’t the point.
Sorry I wasn’t suggesting you could get a CSL for £25k, just that you wouldn’t spend that kind of money on any E46 other than a CSL. A decent one will set you back over twice that, which again is mental but they are iconic. The cooking model M3 was mass produced and will never have the same following.

I’m not suggesting the guy shouldn’t buy it either, but you’d have to have the right reasons. As a forever car to tuck away and use occasionally it’s viable. You’d need to be a true enthusiast, anything less and it’s just makes no sense.

E92 is where the value looks to be right now. Plus you get that V8. Chuck in a rod bearing change for peace of mind and an exhaust mod and it’s perfection. Same screaming engine as the E46 but the sound is another league.

TyrannosauRoss Lex

35,053 posts

212 months

Tuesday 18th February 2020
quotequote all
stevemcs said:
I’d take the M3 and pick up a Ford Focus for £500 to use as a daily hack.
Whilst I can see the merits of doing this, I don't think the M3 is the right car for this. It's meant to be a daily, that's kind of the point. I think doing the 2-car garage thing is absolutely fine, but for £25k I'd be looking to get something a bit more special if it meant I had to put up with a £500 Focus through the week.

Just my opinion smile The M3 is a lovely car, but it isn't a nicer Porsche or something a bit more special IMO.

Cheburator mk2

2,986 posts

199 months

Tuesday 18th February 2020
quotequote all
The Ferret said:
Sorry I wasn’t suggesting you could get a CSL for £25k, just that you wouldn’t spend that kind of money on any E46 other than a CSL. A decent one will set you back over twice that, which again is mental but they are iconic. The cooking model M3 was mass produced and will never have the same following.

I’m not suggesting the guy shouldn’t buy it either, but you’d have to have the right reasons. As a forever car to tuck away and use occasionally it’s viable. You’d need to be a true enthusiast, anything less and it’s just makes no sense.

E92 is where the value looks to be right now. Plus you get that V8. Chuck in a rod bearing change for peace of mind and an exhaust mod and it’s perfection. Same screaming engine as the E46 but the sound is another league.
But as good as the E92 is, it will never be a classic. Don’t ask me to put my finger on it why, but it won’t. The E36 had the E30 licked in every department - I know because I had one of each. Which one is considered special now? Not the better car. Same with the E9x platform - yes, better and faster and all that. Yet, the E46 M3 is considered to be the best ///M car ever build, while the E92 is considered the first one on the slippery slope to blandness. For reference- check the prices of 964 and 993 Porsches vs 996 and 997...

CustardOnChips

1,936 posts

62 months

Tuesday 18th February 2020
quotequote all
The E46 M3 is the sweet spot between digital, analogue, power, being a daily,, special, high revving, NA, butifully proportioned, balanced and a hundred other things.

Its hard to describe, but they just seem to get under your skin.

survivalist

5,661 posts

190 months

Wednesday 19th February 2020
quotequote all
I don't have an E46 M3, although I did drive a few back in the day and test drove a few more recently.

I've currently got a Z4M (same engine), E92 M3 (the successor) and a 335i though and I'd echo what others have said in that even the 'hottest' version of the normal car doesn't feel as special as a real /M.

This might be unfair, but the thing that puts of off the E46 M3 these days is the number of dogs that are about and being asked big money for. When I had kids I was planning on replacing my Z4M with an E46 M3, but all the ones I looked at seemed to be tired (even the ones described as mint). That was before I discovered M3 cutters though, which is where I would look for one now if I was in the market.

ETA - the only possible exception to this was the 130i I bought from Yonex on here. It was heavily modified though with Birds Suspension, Quaife LSD, AP Brakes and Induction/Exhaust. The issue with this with older BMWs is unless you buy something already modified (as I did) the cost of all the modes usually pushes you to within a few grand of an M Car.

I'd say the same will soon be true of the 235/240. By the time you add suspension, LSD etc you're not too far away from an M2. Maybe not right now, but in 12 months anyway. Plus the hassle of modified insurance if you're not old like me ;-)

Edited by survivalist on Wednesday 19th February 10:04

Mr Tidy

22,270 posts

127 months

Thursday 20th February 2020
quotequote all
CustardOnChips said:
The E46 M3 is the sweet spot between digital, analogue, power, being a daily,, special, high revving, NA, butifully proportioned, balanced and a hundred other things.

Its hard to describe, but they just seem to get under your skin.
I was starting to think the same way, but recently prices for good ones (not all the ropey ones so frequently advertised) have firmed up. And at the end of the day sitting in the driver's seat your view will be much the same as any other E46 driver!

Which is why I love my Z4M Coupe, as it has all the analogue features together with a lower seating position just in front of the rear wheels and IMHO better looks - although no rear seats, which isn't a problem for me!