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Discussion Starter · #1 ·
Hey guys i have just taken a deposit for my car ive had for sale for a couple months now and its going this w/e coming, so im in the market for a new car.

Obviously as stated above the m3 is one of those car's pitched against an ap2 s2000.

im looking to spend around 45k max, so i understand i would be looking at a higher k m3. I would have to be patient though as smg's seem to be quite common, but im after a 6 spd.

Now i dont need you guys to tell me what to look out for, what to check etc.
i just would like to know if 45k is enough to pick up a good m3 preferably between 80-120,000 km's.

Now for the big one, I have been in a few s2000's before, in fact the car i just sold is an s2000, i really love them as they are a real driver's car, but have never been in an m3 and as it's bmw's 'm' range i would expect it to give the driver just as much pleasure, is there anyone in victoria who is willing to meet up with me and tell me about their experiences, joy's, all sorts of things about their time with the m3 and take me for a small drive so i have some idea how the car goes.

I have been told by someone who has gone from an s2000 to an m3, that the s2 has better transmission, handles better, but the m3 trumps almost in every other way.

anyway, any replies would be greatly appreciated.

regards.

Brendan.
 

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I have driven an s2000 around wakefield park raceway and it does not even come close the to M3's handling, brakes or straight line speed. The gear box was nice and short but after 7 laps the gearshift leaver got so hot I could no longer change gears so I had to come in. But S2000 was a fun car to drive and I liked how it reved.

But not fair to put a $70k car against a $150k car ofcourse the M3 will be better.
 

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I've not checked the market of late... but 45k might be stretching reality a little, I'd expect closer to 50k+

More than happy to meet up, assuming we're not talking about some deserted car park at 3 in the morning, and the keys will stay firmly in my hands. I've never driven an s2000 so I can't make the comparison, I can say that I love driving the M3, and it depends on what you're planning on using it for as to if it's practical for you.

Mine's the SMG, I used to drive a clutched manual and I can't say I miss it.. I can honestly say the failure rate on the pump and control box give me nightmares, but then a "money shift" in a manual would be worse... I've had a pump failure :(

Should have added I'm in melbourne.. near the CBD
 

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Discussion Starter · #4 ·
I have driven an s2000 around wakefield park raceway and it does not even come close the to M3's handling, brakes or straight line speed. The gear box was nice and short but after 7 laps the gearshift leaver got so hot I could no longer change gears so I had to come in. But S2000 was a fun car to drive and I liked how it reved.
Ouch =/ i gathered the m3 was better but i have to take into consideration that the m3 will be one of the earliest of the e46 range that could of possibly had several previous owners. The s2 will be close to new with no more than 1 previous owner, and its one of the last yr models produced 05,06. so ill be getting all the goodies that where added on where as with the m3 ill always be looking to get newer m3 model parts e.g. tail lights, boot handel. Also as i have quite reasonable knowledge of the honda i am assuming it is a hell of a lot easier and cheaper to gain power out of if i got bored with the standard power output, both engines are highly refined but with the add of ITB's on the m3 i cant really see where i could go short of f.i which i wouldnt intend on doing.

Mallee: yeah i realize 45k might be stretching it, but it just depends how long i can go without a car, the longer i hold off the more i can stretch my budget but i wouldn't want to go higher than 50k.

Haha of course not at 3am, but i would hold onto your keys =P
Im located in south eastern suburbs not that, that really matters ill drive most places to check out an m3. short of leaving the state
 

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1. Does 1990 refer to your birthdate? In which case you wont be able to insure an M3.

2. M3 is an $150,000.00 dollar car new and therefore when servicing a vehicle like this will cost as such. Do you have the income to support this? A big mistake I am seeing lately with people asking about 45k M3'S dont have more than $2 to rub together when it comes to this.

3. Just my personal opinion I'd save another 10k and come back on the market then. You buy a higher k' example you will be spending alot of money on big ticket maintence items.
 

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Discussion Starter · #6 ·
yes that is true 1990 does refer to my birth date. but this is not something i really want to get into, because people are going to judge me and say things like "his parents are buying it for him", "he wont respect it/look after it" etc.

Getting insured is not a problem. If i was to have an 'at fault' accident your right i wont be covered.

I have 2 jobs and work 7 day's a week, one of those job's is at a Subaru dealership where i can get 95% of parts at trade price which can be anywhere from 5-40% off. Now back to the topic, can we try and avoid any questions or statements to do with my age, i no the risks, and considering i bust my butt and make every penny on my own, dont consider me some spoon fed kid, that doesn't deserve a car such as this.

Anyway, if im to look on the market atm you are right for an extra 10k there are alot better examples, i usually do alot of hw on s2ki.com where there is a thread dedicated to people who review s2000's that come on the market for how well they are priced, if they are a bargain, or if they are to be avoided, do any of you guys regularly look and see many good deals come up? or am i in over my head if im looking for a cheap m3 with good mileage?
 

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please dont feel that I was having a go at you. Just things you need to consider. I know when I crashed my car I had a brand new porsche 911 narrowly miss my swerving car and if Id hit it and know I wasnt insured id be paying it off the rest of my life not a risk Id take. I would love some of the M3 members chime in to give you an idea exactly how much it costs to maintain these vehicles. I am only a year older than you and I to bought my own vehicles ever since I could drive so I have been in your position. If you can get cheap parts like you said my suggestion would to be to go onto Mainheim Fowles look for salvage/ repo auctions especially if you work with a dealership! Befriend the wholesaler and get access to dealer only auctions. There are some good savings to be made at Mainheim Fowles and other auction yards if you are patient.

GL WITH FINDING THAT M3
 

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Discussion Starter · #8 ·
i didnt think you where having a go at me, but assumed it was on its way, when i first bought the s, which is almost half the price i copped flak back then by people saying it wasnt a car for such a young person.

Again i agree some idea on maintenance costs would be good. or a link to a service book that explains what is done on each service interval would be good.
 

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I've been looking at M3s for a few months now. I finally found one and bought her just the other week. Black, 2004 model, manual transmission. From what I can gather, about 10% of the E46 M3s on carsales are manual, which makes it difficult if your mind is set on this - as was mine. It's much easier to find an SMG model, and usually you can find later models with lower kms in SMG form. So might be worthwhile reconsidering SMG if you're on a tight budget. Nonetheless, I have seen manual E46 M3s with about 100,000kms 2001 models go for $45k. I never looked at them, only saw the ad, so can't comment on their condition...though I've read their interiors would be quite worn being a 2001 model. All of the manual M3s that are currently on carsales have been there for a very long time, as in several months. Many are approaching 1 year. I would probably avoid those ones cos there's probably a good reason why they're still on the market. If I had to buy another one, I'd probably look at this one:

http://www.carsales.com.au/all-cars...lcarhome&__Nne=15&trecs=45&__sid=12EB574EB3A5

It's currently a bit out of your price range, but I've been monitoring it and it used to be mid $50k's a few weeks ago...so it's dropping.
You could wait until it's advertised at $50k then offer him high $40k's.

Ideally I would have loved a white E46, but in the few months I've monitored carsales, I have only seen one and that was in SMG form.
Most popular colours seem to be silver, black and phoenix yellow.
 

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or am i in over my head if im looking for a cheap m3 with good mileage?
A few weeks ago there was a really cheap M3 going for like $36k in SMG form and < 100,000kms. It sold really quickly, so must have been a bargain. Another time I saw a link for a cheap M3, but after research, the car had been in a major accident and repaired. That was going for <$40k too. So, the cheap M3s usually have a story behind it. If you don't mind M3s that have been repaired from a major accident and other possible repercussions...then you can find a cheap M3 < $40k. And yes, over $50k there are a lot more options. You can find later model M3s with lower kms and are in general better shape. I'd suggest just keep looking around and when something nice pops up get on quick!

It seems there are quite a few ppl looking for M3s nowadays.
 

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I've been looking at M3s for a few months now. I finally found one and bought her just the other week. Black, 2004 model, manual transmission. From what I can gather, about 10% of the E46 M3s on carsales are manual, which makes it difficult if your mind is set on this - as was mine. It's much easier to find an SMG model, and usually you can find later models with lower kms in SMG form. So might be worthwhile reconsidering SMG if you're on a tight budget. Nonetheless, I have seen manual E46 M3s with about 100,000kms 2001 models go for $45k. I never looked at them, only saw the ad, so can't comment on their condition...though I've read their interiors would be quite worn being a 2001 model. All of the manual M3s that are currently on carsales have been there for a very long time, as in several months. Many are approaching 1 year. I would probably avoid those ones cos there's probably a good reason why they're still on the market. If I had to buy another one, I'd probably look at this one:

http://www.carsales.com.au/all-cars...lcarhome&__Nne=15&trecs=45&__sid=12EB574EB3A5

It's currently a bit out of your price range, but I've been monitoring it and it used to be mid $50k's a few weeks ago...so it's dropping.
You could wait until it's advertised at $50k then offer him high $40k's.

Ideally I would have loved a white E46, but in the few months I've monitored carsales, I have only seen one and that was in SMG form.
Most popular colours seem to be silver, black and phoenix yellow.
That one in the ad is a joke!
"NEW GENUINE CLUTCH AND FLYWHEEL (DIDN'T NEED IT, BUT THATS ME BEING FUSSY!)"
Fat chance!
At $4k for the job, it bet it bloody well needed one!
 

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That one in the ad is a joke!
"NEW GENUINE CLUTCH AND FLYWHEEL (DIDN'T NEED IT, BUT THATS ME BEING FUSSY!)"
Fat chance!
At $4k for the job, it bet it bloody well needed one!
lol true, it was probably on its way out so he replaced it.
maybe that one isn't a good example cos it might mean it's had a hard life.
 

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Discussion Starter · #13 ·
yeah there are plenty of smg trans m3's within my price range by i could never go without a Manuel, maybe dsg one day but not likely. But ill start monitoring some of these m3's, ive have been doing the same with a couple of s2's for a few weeks now, and the market deffinately favours the honda, but im more fussy when it comes to the honda meaning i only want one in white or black where im not as fussed with the m3.

ating: this is more just personal opinion as some major accidents that have been repaired come out quite good, but i dont think ill ever buy a car with any bad accident history, ive found some pretty crappy deal's with car's i have done checks with before, and when it comes to the beema ill be even more picky on it. a lot of people seem to think its a good idea to get bmw to do a check on the car for sub frame damage, vanos etc. so i would definitely do that as well.
 

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Discussion Starter · #14 ·
lol true, it was probably on its way out so he replaced it.
maybe that one isn't a good example cos it might mean it's had a hard life.
or the owner couldnt drive it, i had an impreza with 30,xxx km's come in last week that needed a clutch cause it was the owner's first manual, although i wouldnt be buying an m3 as my first manual car if i had'nt experienced it before......
 

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yeah there are plenty of smg trans m3's within my price range by i could never go without a Manuel, maybe dsg one day but not likely. But ill start monitoring some of these m3's, ive have been doing the same with a couple of s2's for a few weeks now, and the market deffinately favours the honda, but im more fussy when it comes to the honda meaning i only want one in white or black where im not as fussed with the m3.

ating: this is more just personal opinion as some major accidents that have been repaired come out quite good, but i dont think ill ever buy a car with any bad accident history, ive found some pretty crappy deal's with car's i have done checks with before, and when it comes to the beema ill be even more picky on it. a lot of people seem to think its a good idea to get bmw to do a check on the car for sub frame damage, vanos etc. so i would definitely do that as well.
yeah things to watch out for are sub-frame, bearings, vanos. then there are other common issues like diff pinion seal leak, rear view mirror leaks...etc. g'luck!
 

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1. Does 1990 refer to your birthdate? In which case you wont be able to insure an M3.
I thought the same a few days ago until this thread. Seems there are plenty of insurers willing to insure sub-25 year olds on M3s. :)

Also here's a good resource for maintenance costs.

To the OP, for $45k you're probs looking at a car with around 80-100k/km on it. Maybe less if you're willing to go with Phoenix Gold as a colour (but beware selling it on WILL be a problem!), maybe more if you're impatient.

IMHO, cars that are advertised for ~$50-52k are well within reach in terms of offers as the market is very slow and people are prone to overvalue their cars. For example, there's a coupe that's just come on carsales that's a 2004 individual colour with 98k/km listed at $70k, compared to a 2004 silver coupe with 40k/km that's listed at $62,500 (and was previously listed at $59k before they realised it was too cheap!). The former is probably worth about ~$52-55k IMHO.

However, good cars at a good price do go super quick. A lovely silver convertible in NSW was advertised this past weekend at $60k with 75k/km on it. It was clearly in great condition and went in less than three days. A same mileage but poorer (tired interior) condition steel grey convertible in Sydney is still listed at $54,950 and it's been advertised for over two months...

All of the above is typically about SMGs mind you, but manuals don't tend to be that much more, just less choice and less frequently on the market.
 

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However, good cars at a good price do go super quick.
True, I've seen a black M3 2002 model with 100,000kms sold within weeks when it was advertised for $49k. Not sure how much it went for, but looked tidy and sold pretty promptly. I feel that tidy examples that are well priced will sell well. I quickly jumped on mine when I first saw it. Just keep your eyes open.
 

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I had a S2000 for a couple of years, then turbo charged it....blew up a number of Diffs, but boy was it fun.... but not as much fun as a standard M3. The M3 is in another league all together. Quite an amazing car & great bang for your buck in my opinion.
I also wouldn't rule out the SMG. Yes there are some small issues associated, but it provides a really enjoyable driving experience.
 
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