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threeliter
03-20-2008, 09:01 PM
I have a question for all the current owners the E36 M3

I am 17, currently a senior at my highschool, and was looking for a daily driver because next fall I will be commuting to college. I have looked at other cars such as the Volkswagen GTI and GLI, but mainly I would like to purchase an e36 M3. I have always loved the design of the E36 M3 and after driving my dads Z4 many times I just wanted to have a BMW as my first car. In my case I will be making all the payments myself with no outside help and wanted to know if this would be a wise decision to make. I also wanted to know what major problems I should look for and how much I should spend on the car and any mechanics involved. I have also heard the M series are more reliable then the regular line up and wanted to know if this was true.

Any help would be great

Thanks :thumbup:

ARG-M3
03-21-2008, 07:30 AM
Hey, I'm 17 and i was looking at buying a nissan 300zx twin turbo because my brother had one and i fell in love with it. However, i ran across a estoril blue 1999 e36 M3 that was in pristine condtion with only 89,000 miles. So, after seeing this car i didnt care about a 300zx anymore the bmw was beautiful. I have had it now for about 4 monthes and the car is amazing. I definately think if you could afford it you would be definately satisfied. 3 weeks after i had the car a deer jumped out right in front of me and i was running about 60 mph and the car absorbed the impact perfectly i didnt feel as if i had hit anything. It did quite a bit of damage but none what so ever to me. Since then i have had the car completely fixed insurance covered it, and i am fully in love with it and feel extremely confident in recomending it to others they are excellent cars. REALLY FAST TOO!!..:thumbup:

Verminute
03-21-2008, 08:20 AM
You're using it to commute...

I'm going to be honest; I drive a very nice M3, all the women that like me for my car; in return I dislike them... They think I'm rich.

Second, I use my M3 to commute; I'm now selling it for almost $10K LESS than what I paid for it three years ago.

Get something more sound, a car with better gas mileage and a car that DOES NOT require premium gas... Seriously!

You will thank me later in life!

Then again, they are the best cars ever built, I wish I had one when I was 17... Financially, you'll regret it!

BDurham
03-21-2008, 07:23 PM
I'm 19 and got my M3 almost a year ago. If you can afford it, go for it, they are great cars. I've only had one problem with my car since I got it but it was a pretty big annoyance because I had to take it back to the shop a few times. I'm going away to college in a few months and not too sure how I'm going to afford car payments and insurance next year so like I said, if you can afford it, go for it.

ianiac
03-22-2008, 12:53 AM
Only buy an M3/BMW if your willing to spend a lot of your income on it. Also if you plan to mod; it gets extreemly expensive, really fast.

GrFa
03-25-2008, 06:10 PM
Wow you guys are really hating on the M3. I am on my third, and I must say the maintenance isn't that bad at all. Find a well maintained example and you shouldn't have too many unexpected repairs.

I had my first two in HS and college and they were great. Safe and reliable, good performance, decent gas mileage (20 city 26 hwy), and held their value pretty well. I say go for it. They are also so cheap now that they won't be depreciating much more than they already have. If you are looking for a coupe I would go for a 98-99 because of the upgrades they did on the later ones, but either model sedan (only 97-98) are about the same.

BM-Bob
03-29-2008, 01:32 PM
Hi Guys......

I'm in Australia and I took delivery of my '94 M3 last Thursday. I have an 18 year old son (I'm and old fart at 45) who really likes it but when I spoke to my insurance company, they laughed at the prospect of him driving it. Don't forget, we got the Euro version over here with 286bhp not the US 240 hp version.

Our car prices are about double what you pay but our wages are a lot more as well so it's all relative. My first question is, how much is a nice 95 model M3 in the States with say 60-70 thousand miles? Secondly how much would it cost for an 18 year old to comprehensively insure it? Our insurance companies are very harsh on drivers under 21 and it's not until they turn 25, premiums become manageable.
Cheers,

Bob.

billygoat777
03-29-2008, 03:33 PM
BM-bob... im 16 in the usa and my insurance is 2k a yr with an e34 535i

ProRail
03-29-2008, 05:08 PM
Only buy an M3/BMW if your willing to spend a lot of your income on it. Also if you plan to mod; it gets extreemly expensive, really fast.

Simple solution: Don't mod. An M3 doesn't need any mods.

ianiac
03-30-2008, 01:09 AM
Bob- I pay $1900 a year with every single possible discount and a clean driving record. I'm 18.

BM-Bob
03-30-2008, 01:14 AM
Bob- I pay $1900 a year with every single possible discount and a clean driving record. I'm 18.

Thanks for that...... Realisticly, what's the value of your car? I'm just trying to compare premium to value ratio.
Thanks.

Bob.

deerpark
03-30-2008, 10:23 AM
Volkswagons seem to have endless problems and just don't seem to be good cars. Definetely get a BMW. I think insurance would be pretty high though since you're a teenager which is the same reason when I get my license I'm just gonna get an E39 528i + more backseat room. I'm also more of a sedan guy myself and M3/4/5spd's seem kind of rare. BTW where are you in Maryland, I'm in MoCo.

chenja 330CI
03-30-2008, 10:41 AM
IMO unless you have money to spend on repairs for a M car, i wouldn't get it for now. for long commutes, and a car that's roughly 8-10 years old, it's not a good idea. AND it's a M, $ for the parts will be a pain. however, if you can afford the parts/ repairs/ insurance, do go for it.

good luck.

ianiac
03-30-2008, 10:33 PM
Thanks for that...... Realisticly, what's the value of your car? I'm just trying to compare premium to value ratio.
Thanks.

Bob.

The value of mine is roughly $9500 (give or take). The market is so bad right now.

BM-Bob
03-31-2008, 12:53 AM
The value of mine is roughly $9500 (give or take). The market is so bad right now.

OK..... so the premium cost is about 20% of the value of your car.

A similar car here would be about $25,000 Australian Dollars...... (Our dollar is about 10% less in value than yours, so $22,500 US $.) If they would insure a 18-19 year old the want about $6,000....... so the ratio is a bit out.

Question............. How much per hour would a young guy of 18 years of age earn in a Foot Locker shoe outlet, or similar retail type store? I'm not talking abouta job like waitressing that relies on tips. My son works in a Golf Shop part time when he's not at university and get $13.00 per hour. That said, he gets $19.50 on Sundays because it's time and a half penalty rate for Sundays.

Thanks guys, just curious about the pay comparisons between Australia and the USA........
Cheers,

Bob.

rrsperry
03-31-2008, 06:16 AM
17 and your parents would let you own an M3? Morons.

Example: Parent in Florida let 18 yo son drive the 500Hp M5, killed 5 people. Kids are stupid, and WILL do stupid things. Parents are supposed to know better.


The car will write checks, your abilities just can't cash.

ianiac
03-31-2008, 11:32 AM
$13 an hour is concidered really good here for his age. Where I am is $7.50.
I personally earn significantly more than that, but would kill for $13 an hour. I've been trying to find a higher paying job so I can still pay my car off in under a year with out having to work 35 hours a week..

Foot Lockers here tend to be in malls. Malls pay terrible usually. Probably about $8.

Also take into note that I live in Chicago one of the most expensive places in the country.

I'd say your son is getting paid rather well.

BM-Bob
03-31-2008, 12:49 PM
$13 an hour is concidered really good here for his age. Where I am is $7.50.
I personally earn significantly more than that, but would kill for $13 an hour. I've been trying to find a higher paying job so I can still pay my car off in under a year with out having to work 35 hours a week..

Foot Lockers here tend to be in malls. Malls pay terrible usually. Probably about $8.

Also take into note that I live in Chicago one of the most expensive places in the country.

I'd say your son is getting paid rather well.

Thanks for that..........

It's not that he's paid well, it's needed to pay for EVERYTHING that it nearly twice the price here. As I said, the price of the car is best part of twice the price so it stands to reason that wages need to be nearly twice as well to keep things on par.

My twin daughters are 15 and a half and work at Mc Donalds...... They get $7.62 per hour.

The average wage in Australia is $50,000 per year but remember, that's the average. I'd be guessing the average in the US would be around $30K?

To put this further into perspective, our housing prices are extreamely high, I live in Sydney which is the most expensive city in Australia and the average house price is $550,000......... So now you know why our wages are that much higher.
Cheers,

Bob.

BDurham
03-31-2008, 02:21 PM
BM-Bob,

To answer a few of your questions, I'm 19 and it costs me roughly $140 a month to insure my car at full coverage. Now this is with 1 point against my record, for an accident that happened when I first got my license nearly 3 years ago. This just came with inexperience and not being aware of what was going on around me. I don't know if your son would get any good student discounts like we do here but I must say that helped me greatly before. I did have the discount on my last statement but because of a bad semester in college I no longer get that discount, so my rates went from about $110 a month to $140 (may not seem like a lot but to a college student it is) Since that accident will be coming off my record within a few months and I will have my grades up and get that discount again I am hoping to get my rates down to about $100 a month or so. However, one strange thing to consider is even though I have an accident on my record I still get the "good driver" discount. I'm guessing its because the accident happened a few years ago and I don't have any tickets on my record is why I get it. So there is a lot to consider as far as rates and discounts you could get. But being as your son is even younger then me, meaning less experience, and with your high insurance rates in your country, it could be pretty ugly getting that bill.

As far as your question about wages, here in the Bay Area I believe the minimum wage is at $7.75 but it's soon going to be raised to $8.50-9.00. As far as a Footlocker employee, like others said they don't make much in respect to a lot of places, I'm guessing you're going to start out at about 9 an hour. But no teenager really works at a Footlocker for the pay, they work for the discounts and the first dibs on New and Limited releases to buy and then flip them for a profit on ebay or shoe forums such as Niketalk or UTA

BM-Bob
03-31-2008, 03:43 PM
Thanks again for this info.......

I find it interesting to compare countries.

In Australia you can only get your licence at 17. What are the ages in the US? I know it varies on what state you are in. I read somewhere Texas was the state that allowed the youngest drivers is that still true?

Bob.

ianiac
03-31-2008, 06:11 PM
Thanks for that..........

It's not that he's paid well, it's needed to pay for EVERYTHING that it nearly twice the price here. As I said, the price of the car is best part of twice the price so it stands to reason that wages need to be nearly twice as well to keep things on par.

My twin daughters are 15 and a half and work at Mc Donalds...... They get $7.62 per hour.

The average wage in Australia is $50,000 per year but remember, that's the average. I'd be guessing the average in the US would be around $30K?

To put this further into perspective, our housing prices are extreamely high, I live in Sydney which is the most expensive city in Australia and the average house price is $550,000......... So now you know why our wages are that much higher.
Cheers,

Bob.



Where I live $550k for a house is also about the average if not below the average. A ranch house, in the not as nice areas, go for over $300k. The average income in the US is in the low 40's.

BM-Bob
03-31-2008, 06:23 PM
Where I live $550k for a house is also about the average if not below the average. A ranch house, in the not as nice areas, go for over $300k. The average income in the US is in the low 40's.

OK...... That being the case, you guys definitely get a better deal. Pro-rata you have more disposable income relative to what things cost. I was in the US for 3 weeks back in '96 (Orlando, Vegas and LA/ Orange County) and thoroughly enjoyed myself. I found shopping pretty cheap but we have a lot stronger Australian dollar so I could buy a lot more now. Unleaded is around $5.00 a gallon here what do you guys currently pay?

Bob.

ianiac
03-31-2008, 11:27 PM
Yeah.. tax keeps going up and up here though.. You have to take that into account. I loose around $175 off of a what would be $650 pay check for example.

I looked up the average Chicago gas price for today: Regular was $3.478

I actually got 15 gallons of premium V-Power today was about $55.

jconm3
04-19-2008, 09:08 AM
hell ya get it im 19 had mine since 16 uncles gift hahaha

threeliter
04-25-2008, 03:29 PM
I really appreciate all the input you guys have given, have talked to my insurance guy and looked at few other cars and don't the E36 M3 would really be that practical for me, even though they are amazing cars i don't think im going to drain all my money on just a car. Looking towards a getting a 528i or just the 325i, Baltimore County

ianiac
04-28-2008, 05:57 PM
You'll be content for a while. Soon you'll decide you want to keep adding all the M3 bits to your car though and want more power. Then waist more money on it than just getting an M3 now (Just what I've seen/ personal experience).

Roland H
04-29-2008, 06:15 PM
Just bought an e36 M3 myself at the age of 17. 62$/month for liability/collision.

ianiac
04-29-2008, 11:52 PM
$62?!?! How?!

Who is it through?

kjboyd
04-30-2008, 12:06 AM
I really appreciate all the input you guys have given, have talked to my insurance guy and looked at few other cars and don't the E36 M3 would really be that practical for me, even though they are amazing cars i don't think im going to drain all my money on just a car. Looking towards a getting a 528i or just the 325i, Baltimore County

I started college with a 71 2002, then a 79 528i and finished with a 318is... the 318 was perfect for everything i needed it for- great gas mileage, cheap to maintain and still a blast to drive; when are you ever going to need the speed and handling of an M3, 1) at your age, and 2) unless you are just showing off. I'm not trying to start a fight here, but the 318 is more than adequate for your first few years of driving. and wont kill your pocketbook.

goodluck!

BsmithNP
04-30-2008, 01:39 AM
I agree with some of what has been said so far.... stick with something a little better on the wallet so speak. With gas rising as quickly as it has in California (we're at $4.19 for premium in my neighborhood) commuting with a high octane vehicle can really put the damper on actually enjoy the college years so to speak... That and the added independence that can come from not having to make a call home when you're short one month and still need to buy books or pay for tuition or ... God forbid... eat!

Anyway, coming from a bit of experience... I went through college with a 92 Oldsmobile Cutlass Sierra ... It was a boat but I had to make a drive from Oceanside (North San Diego) to LA three to four times a week. The gas in a BMW alone would have killed me (especially because my full time job the other three to four days a week was in San Diego proper... 35 miles south of my house). Anyway, after school I was able to pay off loans rather quickly due to a rather hot job market and went all out and bought my 325 convertible new.

Sometimes the delayed gratification can make quite a difference.

ProlixArgon
05-11-2008, 07:46 AM
I started college with a 71 2002, then a 79 528i and finished with a 318is... the 318 was perfect for everything i needed it for- great gas mileage, cheap to maintain and still a blast to drive; when are you ever going to need the speed and handling of an M3, 1) at your age, and 2) unless you are just showing off. I'm not trying to start a fight here, but the 318 is more than adequate for your first few years of driving. and wont kill your pocketbook.

goodluck!


I agree with that. I had a 94 318i with 214K miles when in college. She was a blast to drive, and didn't hurt my pocketbook either. She was easy to maintain (partly due to my dad owning a euro specializing garage), and I never had any major problems. If you're used to driving a faster car, you'll know that you don't have M Power, but you get great style and a great dependable car for a wonderful price. In my opinion, a 318 would an excellent entry to both driving, and BMW.


By the way, now I'm out of college and have two M3s. :)

dragoncoach
05-11-2008, 12:54 PM
I really appreciate all the input you guys have given, have talked to my insurance guy and looked at few other cars and don't the E36 M3 would really be that practical for me, even though they are amazing cars i don't think im going to drain all my money on just a car. Looking towards a getting a 528i or just the 325i, Baltimore County


A very wise decision for a younger driver. Spend the money on a different car and save some of the money and bank it and then later, use it to purchase a nicer car! NEVER buy a car and put all your earnings toward maintaining and insuring it. Again, A VERY SMART AND MATURE DECISION! :thumbup:

ianiac
05-11-2008, 01:39 PM
Man, all these posts are making me consider selling my car again.. ha.. I only spend half my money on my car :eek:

ianiac
05-11-2008, 04:26 PM
Ehh, actually more like 65% including gas and everything..

allshallperish
05-22-2008, 09:50 PM
How would a 95 m3's insurance per month compare to an 01 330ci?

Z3Mcoupedriver
05-23-2008, 07:23 AM
At age 18, I'm not sure there is anything better to spend your money on. Keep your financial advice to yourselves. Kids will only learn by inevitably doing something they regret. You can't interfere with that. M3 is good clean fun.

Mr.///Matt
05-23-2008, 08:32 AM
hey guys when i got my car i was 20...im paying 1800 a year.. 150 a month for my m3.. full coverage. now just turned 21. and i have the same rate..

Roland H
05-26-2008, 03:29 AM
$62?!?! How?!

Who is it through?

Not a clue, but it's through State Farm.

sergem3
06-16-2008, 05:57 PM
i got my M when i was 16. never regret it. fast and nice, gets a lot of looks. and i get 28mpg on highway and 22 in city, i dont see how thats bad considering how fast this car is. so my recomendation is get it. you wont regret it.

CTBimmerGuy
06-17-2008, 12:48 PM
I love my 1999 M3 Convertible but..........$1,800 for an entirely new cooling system, $2,000 for brakes and rotors, $1,800 for shocks and struts, $70 for an oil change, $110 for a transmission fluid change and $165 to have the air conditioning re-charged. You get the idea. I'm 45 and have a good job so I can afford the abuse.

If you have a trust fund or if your dad will pay for your repairs and maintenance and you can swing the cost of insurance for an M3 for a young guy your age then get one. They are great cars.

Otherwise, buy an Altima or Camry or something that won't break down or cost you much for maintenance. You are a young guy and the girls at school will be throwing themselves at you whether you have an M3 or not. Granted, without the M3 you probably won't be dating the homecoming queen but no worries because without the repair bills for the M3 you'll have money to take the homecoming queen's roomate to dinner and she's nicer and better in bed!!!! Then when the homecoming queen sees how you spend your time and money on her roomate while her boyfriend spends most of his time and money on his M3....well, you're wise enough to know what happens next!!!!

Bruce
06-17-2008, 01:43 PM
I love my 1999 M3 Convertible but..........$1,800 for an entirely new cooling system, $2,000 for brakes and rotors, $1,800 for shocks and struts, $70 for an oil change, $110 for a transmission fluid change and $165 to have the air conditioning re-charged. You get the idea. I'm 45 and have a good job so I can afford the abuse.

or DIY and save A LOT of money

CTBimmerGuy
06-17-2008, 02:07 PM
Bruce,

Right on for most guys. Unfortunately my dad didn't pass on the mechanically inclined do it yourself gene to me! Nothing mechanical is intuitive or makes sense to me. I think I have some kind of disability. It takes me three times as long as other guys to figure mechanical stuff out and then after I do it I forget everything I learned one month later!

I spent very little of my youth working on cars and never tore down a motor. I really admire you guys that know how to do all of that stuff and I wish I had learned all of that when I was younger. Now I'm too busy for a learning curve. It's easier for me to shell out the dough!!!!

BM-Bob
06-17-2008, 03:28 PM
Bruce,

Right on for most guys. Unfortunately my dad didn't pass on the mechanically inclined do it yourself gene to me! Nothing mechanical is intuitive or makes sense to me. I think I have some kind of disability. It takes me three times as long as other guys to figure mechanical stuff out and then after I do it I forget everything I learned one month later!

I spent very little of my youth working on cars and never tore down a motor. I really admire you guys that know how to do all of that stuff and I wish I had learned all of that when I was younger. Now I'm too busy for a learning curve. It's easier for me to shell out the dough!!!!

You remind me very much of myself 30 odd years ago. I didn't know what a screwdriver was for until I was about 17. The ability to work on cars was always magic to me.

Two things happened; firstly you do live and learn so my basic mechanically skills now get me by. Secondly, get well educated so you can get a well paying job. I'm fortunate enough to earn considerably more than what the average mechanic does so if I need pay for work done to my cars then so be it.

I go off to work whilst they fix my car so at the end of the day I'm "revenue positive" as opposed to spending all day trying to fix something I really can't.

Enjoy...........

Bob.

Bruce
06-17-2008, 05:53 PM
I really only started working seriously on my cars about 6 years ago.

I am a cheap bastard where I cringe at spending money on stuff like that. I would prefer to not do it, but my cheapness usually rules. But when it comes to my wife's car, all bets are off....she just spent $2200 on maintainence on her Lexus today....good thing the damn thing is a Toyota!

CTBimmerGuy
06-17-2008, 10:56 PM
BM Bob,

That's exactly how I look at car repairs. Repairing a car is real work and my labor has a value. I'm better off going to work and doing what I do well and earning the dough to pay the mechanic rather than attempting to do what I don't do well and spending way too much time on it, getting frustrated, braking other parts in the process and doing a poor job with the repair. When I start taking cars apart nothing makes sense including the instructions in Chiltons manuals so I leave it to the pros. For twenty years I've had a really trustworthy mechanic and I consider him to be as important as my accountant and attorney. He takes great care of me. I drop my car off at his place any evening I like without an appointment and it's fixed the afternoon of the next day. If combustion engines made sense to me and if I had mechanical aptitude like most guys I'm sure I'd enjoy working on cars and I'd probably fix them myself and save a lot in the process. These days I'm so lazy I'd rather pay $70 for an oil change than drive my car up on ramps, climb under the beast, drain the oil pan and do my own oil change which would probably cost about $20 with a filter.