£6k fun car or proper appreciating classic?
Discussion
I’m agonising over what is currently a hypothetical, but with a bit of luck and a fair wind, might become a real choice in the near future. I turn to the PH hive mind for opinion. I have a feeling I know which way it’ll go, but I might be surprised.
Context: I have three cars. My daily is a Skoda Octavia VRS diesel estate, which does everything I need it to. I also have a BMW E36 328i coupe, which is set up for track days, and a Mercedes R129 SL500, which is for high days and holidays and general fun. I haven’t bonded with the Merc though, and it’s for sale. Without tempting fate, it might be going soon.
So naturally my mind has turned to what might be next. I’d like to have a fun car for holidays, outings, car events etc, and given that I’m replacing a convertible I’ve been looking at convertibles. As a BMW fan I’ve always wanted an M car, and top of the list is an E46 M3, generally considered the best generation. However, my sensible head intervened and reminded me that I’d be stretching myself to buy one of the cheapest examples around. As keen as I may be, and as appropriate to my username as it would be, I think that approach is out.
To come to the thread title, I’ve got myself wrapped up around a decision between an E36 328i convertible (continuing my long love affair with E36 328s), which would be well within budget with plenty left over, or stretch myself to fill my garage with a pretty well sorted E36 M3 convertible.
I’ve decided that I like the lines of the E36 more than the E46, hence looking at two E36s. They’re more me. I’m an E36 guy rather than an E46 guy. That makes no logical sense and I’m well aware of that, but this is very much a heart decision not a hard facts kind of head decision.
So what are the pros and cons?
The £6k 328 in question is purple. Madeira Violet to be precise. I love unusual colours and purple is great. The bodywork is in excellent condition, but the interior is a bit tired. It’s very basic, everything’s manual (except the gearbox). What do I like about this? It’s cheap and cheerful, a pretty car with a great engine, and ripe for a manual swap. I’d happily spanner on it and spend time tarting up the interior without worrying too much about cocking it up. I could take the kids out in it without paranoia about them damaging the interior. Cheap, fun, worry free happiness in a car.
But then there’s the chance of having an M3 in the garage. A proper classic to pamper and be proud of. It’s only going to go up in value, and would be a lovely thing to own, look after and take on days out, car events etc. It would have all the tricks - heated electric seats, air con etc. A proper grown up car. I’d love it. I’d also be paranoid about putting the kids in it. Or working on it myself (which is one thing I love about cars). I wonder if the pressure to maintain perfection would dent the joy I’d get out of owning and driving it.
I suppose I’m either looking for reassurance that I’m worrying about nothing and should go for the M3, or confirmation that cheap, cheerful and worry free is likely to produce more grins.
Context: I have three cars. My daily is a Skoda Octavia VRS diesel estate, which does everything I need it to. I also have a BMW E36 328i coupe, which is set up for track days, and a Mercedes R129 SL500, which is for high days and holidays and general fun. I haven’t bonded with the Merc though, and it’s for sale. Without tempting fate, it might be going soon.
So naturally my mind has turned to what might be next. I’d like to have a fun car for holidays, outings, car events etc, and given that I’m replacing a convertible I’ve been looking at convertibles. As a BMW fan I’ve always wanted an M car, and top of the list is an E46 M3, generally considered the best generation. However, my sensible head intervened and reminded me that I’d be stretching myself to buy one of the cheapest examples around. As keen as I may be, and as appropriate to my username as it would be, I think that approach is out.
To come to the thread title, I’ve got myself wrapped up around a decision between an E36 328i convertible (continuing my long love affair with E36 328s), which would be well within budget with plenty left over, or stretch myself to fill my garage with a pretty well sorted E36 M3 convertible.
I’ve decided that I like the lines of the E36 more than the E46, hence looking at two E36s. They’re more me. I’m an E36 guy rather than an E46 guy. That makes no logical sense and I’m well aware of that, but this is very much a heart decision not a hard facts kind of head decision.
So what are the pros and cons?
The £6k 328 in question is purple. Madeira Violet to be precise. I love unusual colours and purple is great. The bodywork is in excellent condition, but the interior is a bit tired. It’s very basic, everything’s manual (except the gearbox). What do I like about this? It’s cheap and cheerful, a pretty car with a great engine, and ripe for a manual swap. I’d happily spanner on it and spend time tarting up the interior without worrying too much about cocking it up. I could take the kids out in it without paranoia about them damaging the interior. Cheap, fun, worry free happiness in a car.
But then there’s the chance of having an M3 in the garage. A proper classic to pamper and be proud of. It’s only going to go up in value, and would be a lovely thing to own, look after and take on days out, car events etc. It would have all the tricks - heated electric seats, air con etc. A proper grown up car. I’d love it. I’d also be paranoid about putting the kids in it. Or working on it myself (which is one thing I love about cars). I wonder if the pressure to maintain perfection would dent the joy I’d get out of owning and driving it.
I suppose I’m either looking for reassurance that I’m worrying about nothing and should go for the M3, or confirmation that cheap, cheerful and worry free is likely to produce more grins.
BoRED S2upid said:
Cheap cheerful and worry free all day IMO. You need to be out driving these cars not worrying about mileage, parking dents, potholes… which it sounds like you would be in the M3.
Why can’t you take the purple beast to a car meet? It might not be an M3 but it’s still pretty unique.
Oh, I can and absolutely would. I’d do pretty much the same things in either. Why can’t you take the purple beast to a car meet? It might not be an M3 but it’s still pretty unique.
Mr Tidy said:
An M3 is going to cost quite a bit more to maintain, but if that isn't an issue and you fancy one why not get one? YOLO!
Yes, and I do wonder, if not now then when? They’re only getting more expensive as time goes on. The longer I wait the more out of reach they are likely to get. buy_cheap_pay_later said:
Mr Tidy said:
An M3 is going to cost quite a bit more to maintain, but if that isn't an issue and you fancy one why not get one? YOLO!
Yes, and I do wonder, if not now then when? They’re only getting more expensive as time goes on. The longer I wait the more out of reach they are likely to get. I'm so glad I did as that S54 engine just makes it feel even more special!
I am in a similar position. Have a lovely E36 328 with a few tweaks which is brilliant fun on road. Do I get an E46 M3 and will it actually be more engaging? I drove an M3 some years back and was underwhelmed.
Heavier, probably going to be £25-30k once preventative maintenance is done and some upgrades bought.
Bang per buck it probably makes no sense at all really. Keep the 328 and get a Caterham/ Elise for the same financial cost..?
Heavier, probably going to be £25-30k once preventative maintenance is done and some upgrades bought.
Bang per buck it probably makes no sense at all really. Keep the 328 and get a Caterham/ Elise for the same financial cost..?
I’ve been doing some thinking on this, and thank you for the opinions. I’ve gone from absolutely firm on one course of action to absolutely firm on the opposite and back again, all in the space of about 20 minutes.
I used to be indecisive, but now I’m not so sure…
Anyway, I think what it comes down to is my ability to do stuff. I’ve spent the last year counting my pennies and not really able to do fun stuff, due to buying a house and other things. If I was to stretch myself to get the M3, I would be outrageously excited to have an M3 in the garage, but I would extend my feeling of being a bit paralysed financially for probably another year. I have a feeling I would come to resent the beautiful thing in my garage as I sit unable to enjoy my other toys because I have no money.
So for now, I will consider the M3 still aspirational. I think the right course of action is a cheap and cheerful purple s**tbox that will put a big smile on my face, and some cash left over to do track days, treat the kids, and generally enjoy life. Not making the same mistake I have in the past where having stuff stops me from doing stuff.
I feel like that’s a decision, but it’s still all academic until the SL sells and the money is in my pocket…
I used to be indecisive, but now I’m not so sure…
Anyway, I think what it comes down to is my ability to do stuff. I’ve spent the last year counting my pennies and not really able to do fun stuff, due to buying a house and other things. If I was to stretch myself to get the M3, I would be outrageously excited to have an M3 in the garage, but I would extend my feeling of being a bit paralysed financially for probably another year. I have a feeling I would come to resent the beautiful thing in my garage as I sit unable to enjoy my other toys because I have no money.
So for now, I will consider the M3 still aspirational. I think the right course of action is a cheap and cheerful purple s**tbox that will put a big smile on my face, and some cash left over to do track days, treat the kids, and generally enjoy life. Not making the same mistake I have in the past where having stuff stops me from doing stuff.
I feel like that’s a decision, but it’s still all academic until the SL sells and the money is in my pocket…
As someone who has in the past stretched themselves financially for a car I couldn't really afford, I say don't do it. The novelty quickly wears off and it just becomes stressful and not pleasant to own. One thing I like about having a cheap, fun car is that it never really costs much, you're not as precious / paranoid about it, and that you can just drive it like you stole it if you like without worrying whether it'll break. Everyone is obviously different, but financial concerns always seem to take the shine off ownership of a car for me.
Things have progressed. This thought process paused because the buyer I had for my SL disappeared. Im happy to report that I have now sold it though. So I have some money burning a hole in my pocket, demanding that I purchase a third car.
The calculus has changed, however.
I have plans and schemes that are likely to see me in a position to quite comfortably get into an M3 this time next year. The question now, therefore is what to do in the meantime?
Course of action 1: wait like a good boy until I can get what I really want. Yeah, right!
Course of action 2: buy something to enjoy this year, with a view to moving it on next year. I’ve been looking around and nothing excites me quite like an E36, so that’s what it’ll be. Two options:
2a: spend most of what I’ve got from the SL on a really nice example that should be relatively easy to move on when I’m in a position to upgrade. The risk here is that I’d need to release the money I had in it in order to get the M3. I could be stuck in a position where I’m waiting to sell in order to buy. For a man of my patience, that’s excruciating.
2b: go cheap and cheerful. The best example I can get at the bottom end of the market. This carries less financial risk as I’d be more likely to be able to buy the M3 without selling the s
tbox first, but I suppose higher mechanical risk. If it craps itself then I’ve either lost the ability to enjoy it this summer or I’ll need to plough more money than I’m willing to into it to get the benefit.
Take one look at my username and guess which way I’m planning to go
The calculus has changed, however.
I have plans and schemes that are likely to see me in a position to quite comfortably get into an M3 this time next year. The question now, therefore is what to do in the meantime?
Course of action 1: wait like a good boy until I can get what I really want. Yeah, right!
Course of action 2: buy something to enjoy this year, with a view to moving it on next year. I’ve been looking around and nothing excites me quite like an E36, so that’s what it’ll be. Two options:
2a: spend most of what I’ve got from the SL on a really nice example that should be relatively easy to move on when I’m in a position to upgrade. The risk here is that I’d need to release the money I had in it in order to get the M3. I could be stuck in a position where I’m waiting to sell in order to buy. For a man of my patience, that’s excruciating.
2b: go cheap and cheerful. The best example I can get at the bottom end of the market. This carries less financial risk as I’d be more likely to be able to buy the M3 without selling the s
tbox first, but I suppose higher mechanical risk. If it craps itself then I’ve either lost the ability to enjoy it this summer or I’ll need to plough more money than I’m willing to into it to get the benefit. Take one look at my username and guess which way I’m planning to go
Edited by buy_cheap_pay_later on Sunday 23 April 08:20
No point buying bottom of market if the car needs lots spending on it over the year. You'll still end up needing to sell it to finance the M3.
My recommendation is buy the car that has best maintenance record, in excellent mechanical condition and is sensibly priced. View and make fair offers on a few good ones being sold privately. Then you will hopefully get your money back next year less cost of a service and minimal repairs.
My recommendation is buy the car that has best maintenance record, in excellent mechanical condition and is sensibly priced. View and make fair offers on a few good ones being sold privately. Then you will hopefully get your money back next year less cost of a service and minimal repairs.
I've had an E46 M3, followed an E39 M5. I appreciate that they are rated by many people, but I just didn't gel with it, I'm now on an M4 convertible. In my opinion the E46 is at that blend of age, value and complexity that makes then a potentially problematic ownership experience and the cab will add to this. I found that you have to be very careful with structure and bodywork, electrical issues and complexity and again in my view, they feel dated, I don't see that it would feel much more modern that then E36. On top of that, resolving issues and maintaining it properly will be a lot more expensive than the E36 and the expectation of any buyer that you may eventually move the car onto, will be that you have done this. I had mine for 2 years and I sold it for 50% more than I paid for it, but it more or less cost me that in the same time to maintain it.
I'd either go older and cheaper, or newer, truly modern but doubtless more initial outlay.
I'd either go older and cheaper, or newer, truly modern but doubtless more initial outlay.
1. Never view a car in the rain.
2. Never buy the first one you look at.
So… I just secured one of the cheapest E36 convertibles in the country. This soggy wannabe coupe:
The colour is Stahlblau. Which makes it really, really, ridiculously good looking.
Why so cheap? Mainly this:
But…
90k miles, some service history, new brakes all round, M Sport body kit (factory apparently), M Sport suspension (apparently), light coloured leather sport seats, colour matched hardtop, a remarkably rust free body and underside (very rare in E36s), and as an added bonus a fully manual roof mechanism (actually a positive as the electric ones tend to be problematic). The 2.5l straight six purrs like a kitten and it drives very nicely. Apart from needing four tyres, and the interior being a bit worn, there really isn’t a great deal wrong with it. Certainly plenty to like.
I think that’s closure for this thread, though I might revive it when I get my M3 next year
I’ll put this stopgap 323i on my readers cars thread once I’ve collected it at the weekend:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
2. Never buy the first one you look at.
So… I just secured one of the cheapest E36 convertibles in the country. This soggy wannabe coupe:
The colour is Stahlblau. Which makes it really, really, ridiculously good looking.
Why so cheap? Mainly this:
But…
90k miles, some service history, new brakes all round, M Sport body kit (factory apparently), M Sport suspension (apparently), light coloured leather sport seats, colour matched hardtop, a remarkably rust free body and underside (very rare in E36s), and as an added bonus a fully manual roof mechanism (actually a positive as the electric ones tend to be problematic). The 2.5l straight six purrs like a kitten and it drives very nicely. Apart from needing four tyres, and the interior being a bit worn, there really isn’t a great deal wrong with it. Certainly plenty to like.
I think that’s closure for this thread, though I might revive it when I get my M3 next year
I’ll put this stopgap 323i on my readers cars thread once I’ve collected it at the weekend:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Edited by buy_cheap_pay_later on Tuesday 25th April 10:50
Lovely. Congratulations!
I have bought a car in the rain before now, actually also an E36 all be it a 316i compact. Travelled too far for it, and bought from a South African 'Mondern Classics Dealer' who had bought it cheap done work on it. Second one I saw, as the first was a total dog!
All said, absolutely lovely car!
I have bought a car in the rain before now, actually also an E36 all be it a 316i compact. Travelled too far for it, and bought from a South African 'Mondern Classics Dealer' who had bought it cheap done work on it. Second one I saw, as the first was a total dog!
All said, absolutely lovely car!
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