E46 M3 vs M235

[highway]

I’ve been offered an old bosses M235i. He’s had it from new and it’s been pampered. Its only covered 16k. Full BMW service history from new. It’s in great shape, but I have always hankered after an E 46 M3, preferably manual.

The 235 is auto. Scouring the PH classified I’ve seen what looks like a pristine E46 with some really discrete upgrades. The owner has put 6 pot BMW performance brakes on the front with Porsche on the rear. CSL wheels, carbon air box and a load of other stuff as well.

It’s on PH classifieds but I don’t think I can link to the ad. It’s up at £24950.

I read the PH article earlier this week explaining how that S54 engine is a legend. I’m guessing that, though more modern, the E46! Is significantly more special? The mods all look OEM quality on the E46- do they hurt or assist the value of the car in the longer term?

Anyone had both who can impart some wisdom?

[highway]

The PH article about legendary engines suggests the ‘best’ M3 are £25k ish now. I haven’t been keeping strict market watch but cars with low miles, evidence all the weak points addressed and without a story, seem thin on the ground?

I’d use the car daily. Again, when new was this not what the M3 was marketed for? 235 no doubt quicker and easier. It just looks so bland.

[highway]

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.

[highway]

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.

[highway]

I’ve decided to go 235. Thanks for contributing. I collect on Saturday.