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E46 M3 (2001-2006)

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  #1  
Old 12-03-2010, 07:30 AM
bobev bobev is offline
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To buy an e46 or not to buy an e46...

Hi all, I am new to the forums and basically I want to know what you guys think about me realistically buying an e46 as a 19 year old driver, do you guys think I should go for it or should I wait a few years until im a more experienced driver and a little older?
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  #2  
Old 12-03-2010, 08:11 AM
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Vitacura Vitacura is offline
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The main thing I would look at is maintenance and insurance costs just to have the vehicle at your age.
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  #3  
Old 12-03-2010, 08:18 AM
bobev bobev is offline
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Yeah, that was one of the main things that I was still thinking about, any m3 owners out there that wouldn't mind sharing some of their maintenance costs?

And before someone goes into the whole "you're 19 and are too immature and stupid to handle a car like an m3", I would just like to say a little about myself...I am a full time engineering student, will be paying for the car myself so mommy and daddy aren't paying for me, have busted my behind to earn enough money for a new car throughout the pat couple of years, and am not the average teenage kid who likes to show off his car, I would much rather treat my car like its my baby and respect it.
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  #4  
Old 12-03-2010, 01:57 PM
ttrelfa3 ttrelfa3 is offline
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oil and filter alone are about 100 bucks thats with yourself doing it. Also see your in nj. Im from long island and i just got a winter car. Should look into getting one also for the winter. The m3 with winter rims and tires shouldnt be horrible but still dont want salt and sand on the paint.
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  #5  
Old 12-03-2010, 02:00 PM
bobev bobev is offline
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Okay, thanks. I think I would be able to hold out until after winter lol, but a valid point nonetheless.
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  #6  
Old 12-04-2010, 05:19 AM
MJS MJS is offline
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I wouldn't do it if I were you. I'd buy a cheap, reliable car. Honda, Subaru, etc.

I couldn't imagine having an M3 when I was in college. Living in various aptmts and street parking. Granted your situation might be different. But I'm sure I would have destroyed mine if I had it then! Or someone else would have.

As for maintenance costs, yes it can be expensive. I don't daily drive mine, so the annual costs that I've seen are not tremendous. Yet. I store it in the winter, so it doesn't see much use then. But....
Oil changes - $100
Brakes - $1000
Inspection II - $1000-$2000 (ballpark, independents will be cheapest)
Tires - $800-$1000 (rears last anywhere from 10,000-15,000 miles depending on how you drive, fronts longer, you'll need snow tires if you get ice/snow in NJ)
Insurance - ranges depending on various factors(I pay $500/yr - 40 yrs old,4 cars,homeowners, good record, etc), but you being in NJ and 19, good luck is all I can say.
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  #7  
Old 12-04-2010, 10:43 AM
bobev bobev is offline
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Good point MJS, the only problem with your suggestion is I am pretty anti Japanese cars so I would have to pick a different brand. As far as the insurance goes, Im fairly certain that my dad would put the car under his name anyways, but yeah the maintenance costs are pretty high.
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  #8  
Old 05-20-2011, 09:04 AM
racerman racerman is offline
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Honda S 2000...then when you can afford it...move up. Mike
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  #9  
Old 12-21-2011, 02:04 PM
3seriescharlie 3seriescharlie is offline
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Just throwing my $.02 but if u don't like honda's or other jap cars get a VW GTI. My cousin drives one and he loves it. He is 18 and he can afford to maintain it on his own. just my opinion.
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  #10  
Old 12-26-2011, 09:23 AM
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remington remington is offline
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Don't make the mistake many others have made...just because you can afford to buy a high performance European car on the used market doesn't mean you can afford to keep it. The cars may be getting cheap but the service is still priced at the top of the market. I'd look elsewhere unless you're a skilled BMW mechanic or fairly wealthy.
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  #11  
Old 01-11-2012, 07:22 AM
GBeason884 GBeason884 is offline
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In college, I decided to get a CPO 2004 330Ci with 18k miles. Like you, I paid for it without the help of my parents. Absolutely loved the car and it was the best purchase I ever made.

With that said, do keep in mind a few things. 1. College campuses are tough on cars. I swear the colleges make the parking spots smaller than anywhere else. Plus, I found many were either jealous or didn't care if they dinged my doors. 2. Even though you are buying a 20-40k used car, you are still maintaining a mid to high 50k luxury sports car. Every time you get repairs, expect at least a 1,000+ invoice. Tires ate me alive in college.

Last January, I ended up selling my 330Ci. It was my daily driver and was putting about 30k miles a year for work. Maintenance was eating me alive after she went out of CPO warranty. I got a boring Honda Accord for work driving and my new M3 is about to arrive in the states.

I almost bought an identical e46 M3. If you have to finance the vehicle, interest rates on these older cars are rediculous. Most banks don't finance a traditional used car loan for anything over 5 years old. To finance, the loan is a line of credit. For me, I was able to get a new M3 for about $200 more a month and the factory warranty.
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  #12  
Old 01-13-2012, 08:41 AM
gorgerax gorgerax is offline
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Quote:
Originally Posted by bobev View Post
Hi all, I am new to the forums and basically I want to know what you guys think about me realistically buying an e46 as a 19 year old driver, do you guys think I should go for it or should I wait a few years until im a more experienced driver and a little older?
Another option...you could always do what my 19 y/o son did: Get an E36 M3! I gave him my 95 when I upgraded to a 2004 M3. The 95 is near mint and has already had all the upgrades, rehabs and maintenance. Has been and should continue to be a very reliable and reasonable, car....here's a pix.

And he reports that the ladies love it! LOL
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  #13  
Old 01-15-2012, 03:35 PM
epenbecks epenbecks is offline
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even me, single man with the good job in alumunium company. still have to thinking so many times to buy M3. I drive E46 325ci and keep thinking to buy the M3.
when I ask some of my friend that have M3, they say its expensive. you can buy the car, but i dont think you can keep and drive it for long time, except your family can always give you some money.
my friend only suggest me to buy M3 E36, more easy.
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  #14  
Old 03-04-2012, 04:02 PM
A white m3 A white m3 is offline
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e36 m3, easily maintained, not as expensive for maintenance, much easier to work on... about the same to upgrade honestly... but still a VERY rewarding drive and if u stash it it wont be as much of a loss. The fact that you ask means you're not ready and not an enthusiast, also the fact that you said you need more experience means you most likely do. A e36 m3 is still a very fast car and can and will get you into trouble, add 100 hp to the figure and you're really asking for it! Wait till you have more money to maintain a e46 properly and find out where you stand in the community as far as mods you want and the way you want your car to be setup. It will make more sense in the future, i'm 22 and would love nothing more than a e46 m3, since I was a kid i've wanted one, but i've wanted a e36 for as long as I can remember too so learning in one is a great!
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