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I am in the market for an E46 M3 as well, just that I have almost ten years of driving experience and this will be my weekend car (pleasure use).
Even with a decent paying job, I am still a little hestitant in getting a M3. I currently drive a boring Toyota with barely 130hp, so this would be a very big upgrade in terms of performance/maintenance/insurance.
Cost:
2001-2004, local BC car, clean title, ~80-120km, cost anywhere from $18k-$25k.
SMG transmission is choppy as hell, compared to the smooth but powerful 335i. I don't know how to drive manual, so 6 speed manual is out of the question.
Maintenance is a bitch. A lot of E46 M3 for sale are at 90k because the current owners don't want to shell out $2500 for Inspection II.
Subframe, Valve adjustments, and other common problems just scares the shit out of me. I have been researching for the past 2 hours.
Benefits:
M car
Insurance Quote:
$2600, pleasure use, 2mil TPL, 300 comp/colli, -43% discount
Having test driven a 2002 and 2004 M3 SMG, and an CPO 2008 335i sedan, I would gamble with the M3.
Also test drove a 2011 328i xdrive demo special, it was a piece of crap. Felt like a Camry but with a $50k price tag.
Summary: $20,000 (M3) + $2600 (Insurance) + $??? (Maintenance) = Worth it
My question is... at the age of 25, decent income, should I save up for property or waste money on a car that I DON'T NEED?
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