Should I Buy an M3 with 100k Miles?

The E46 M3 has been my dream car ever since it came out and now that I'm out of college I can afford a very, very used one

I found a 2001 M3 with 99,400 miles on it (supposedly mostly highway) with a clean title and everything. It's pretty cheap (<$30,000), but I'm worried about the mileage. Am I being short sighted? Should I just hold on to my E36 323 a few more years when I can afford an '06 M3?

Please help me make the right decision

Originally Posted by stash182

The E46 M3 has been my dream car ever since it came out and now that I'm out of college I can afford a very, very used one

I found a 2001 M3 with 99,400 miles on it (supposedly mostly highway) with a clean title and everything. It's pretty cheap (<$30,000), but I'm worried about the mileage. Am I being short sighted? Should I just hold on to my E36 323 a few more years when I can afford an '06 M3?

Please help me make the right decision

$30K is a lot of money for a car with 100K miles. I would only do a purchase like that if it were CPO. You need some type of warranty and coverage. Good luck !

Uuh, CPO runs out at 100K miles, so any warranty if just about over.

It is a gamble to buy a high performacne car with that many miles on it, although BMWs historically have quite long life out of their engines, once you get past the initial period of infant mortality.

But, while I probably wouldn't buy this car, it may be fine for you. But you culd also be looking at some fairly expensive repairs not that far down the road.

Money pit; I'd stay away.

Originally Posted by stash182

The E46 M3 has been my dream car ever since it came out and now that I'm out of college I can afford a very, very used one

If you can only afford a "very, very used one", then somehow it doesn't sound like you can really *afford* one. Don't worry about the selling price.
Are you ready to drop $6K (estimate) at the blink of an eye for an engine rebuild if something should go wrong?
I'm not saying your engine is about to blow up at that mileage, but when buying a performance car with so many miles you're taking a big risk
and you need to have some serious money set aside if things go wrong-- and something will go wrong.

Too many people have bought a used Lotus thinking they could afford the $500 a month payment only to get rid of the car down the line
when realizing they could not afford the car...

Hello there,

M3 is a performance vehicle. Performance means that it has got the everliving **** floared out of it..... In my city almost every M3 that you see on the road not highway/freeway are going at least 60 MPH...... Im just telling u even i have been looking for an M3 New and yet havent found the perfect one but there is no way im going to purchase a new one. If you purchase a used one you better have a pretty thick wallet or something...... Oh by the way if a seller says highway miles thats fu**in Bull **** its like they are lieing rite in front of ur face.

-Pwned

I would budget between 8-10k per year in maintenance costs. If you're ok with that, I'd say go for it.

It's not advisable to buy any car that has over 100k on the clock, let alone an M3. You'll get nothing but headaches. If your budget only allows for $30k, try consider a low-milage E36 M3 if you have to have an M3, an E46 325i, or hold on to your 323 if there is nothing wrong with it. That's my opinion.

"Good things come to those who wait"

Seriously, what the others have said is true. When you say afford this vehicle, you have to include the cost of the inevitable expensive repairs that will be coming.

I would wait until you can afford a new one, or a nearly new CPO one. If that's only a year or two, you ought to be able to wait.

Spend a couple grand more and get one with half the miles. The only way that car makes any sense is as a race car. And even then, it had better be more like $20K.

Don't give up, I picked up a 01M3 with 36k miles and CPO to 100k or 4/07 for $35,300. A bit more than your budget, but the extra 5k will save you tons over time.

Going over 60 MPH has NOTHING to do with how the car is driven. The car is not even to 2500 RPM in 6th at 60.

It is how it is driven TO 60 that you have to worry about.

But a nice E36 M3 will set you back around $20K, leaving you with $10K to mod and maintain.

PINECONE!!!! did u read the whole thing of what i said?? THats just in the roads u know the speed limits around sasy 45ishhh imagine how fast they would go in the highways or freeways

-Pwned

Originally Posted by pwned

PINECONE!!!! did u read the whole thing of what i said?? THats just in the roads u know the speed limits around sasy 45ishhh imagine how fast they would go in the highways or freeways

-Pwned

And road speed limits are typically set by the TYPE of road, not the condition and capacity to drive at speed.

And 80 - 90 on the highway is no big deal. 80 MPH in 6th is only 3K RPM.

And lastly the car was designed to run long distances at well above 100 MPH for European highways.

Speed alone is NOT an indicator of how carefullly driven or abused a car is.

Originally Posted by Pinecone

Going over 60 MPH has NOTHING to do with how the car is driven. The car is not even to 2500 RPM in 6th at 60.

It is how it is driven TO 60 that you have to worry about.

Yeah, not too many M3 owners take there time getting to 60, or 90... or 120.... driving 120 in itself isn't too thrilling, but getting there is.

Hang onto your car and be patient. When the time is right, the right car will come along, and you will be glad you waited it out.

Originally Posted by DaKine

Yeah, not too many M3 owners take there time getting to 60, or 90... or 120.... driving 120 in itself isn't too thrilling, but getting there is.

Hang onto your car and be patient. When the time is right, the right car will come along, and you will be glad you waited it out.

Heck, doing it much faster than everyone on the road, is still not pushing an M3.

I own a 2001 M3 cic with 85 k one it runs like a bee and I would by it again with high mileage , replaced Engine with 25 k and driven it any way you can think off, had at 45 k recall to replace new bearings and had installed newest 2003 computer upgrade, Car has warranty until 100 k, I plan to drive this car a nother 100k and dont expect any problem
"its how you take care of your Toy that's how it will run. All my car's have high Mileage
and running like the first day 2000 X5 with 165K, 1998 MZ3 65 K all excellent condition
been offered for any of the above no matter of mileage more than Blue book.

You always have to make your own desission and dont depend on other's