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///M3 Forum
The BMW E46 ///M3 is the M version E46 and puts out an amazing 333 HP and 262 lb-ft of torque at stock specs! There are an amazing amount of modifications for both the coupe and convertible models so read up and get started modifying your cars today!

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Old 02-08-2013, 01:00 AM   #1
Westrace
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Driving a $18K 10yrs old car with 100K mileage is not rich

It's always funny how perception can be totally different from reality. I mean people think I am some kind of rich guy. I bought the M3 for something that was cheaper than an entry Corolla but somehow people think I am loaded. Lols I live in a working class neighborhood and work on my own car to save money. Granted the car was well kept and looks almost brand new, but still it's a 10yr old car.
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Old 02-08-2013, 01:32 AM   #2
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Old 02-08-2013, 01:33 AM   #3
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Old 02-08-2013, 01:57 AM   #4
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They remember the initial value and the present mechanical value.

You can get a 2006 DB9 at a extremely cheap price now. But it's mechanical value is still that of a very expensive vehicle. Cost of entry isn't always as high as the cost to maintain.
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Old 02-08-2013, 06:14 AM   #5
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Would read again.
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Old 02-08-2013, 09:25 AM   #6
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Its funny how a supposedly intelligent observation on the lessons of depreciation suddenly becomes less intelligent. Regardless of how much the car has dropped in value and given its age, an M3 is never a Corolla. A car such as the E46 model still looks good for its age and is not really outdated if kept in decent condition. What do you expect folks in "your neighbourhood" should say? That you can't afford a brand new E92 and you are only driving a BMW when you should be driving a Toyota since that is what most folks in your neck of the woods can afford? Perhaps you should have bought the brand new entry Corolla instead. As others would say, this is a most interesting read.
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Old 02-08-2013, 10:10 AM   #7
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Old 02-08-2013, 12:56 PM   #8
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the difference is this WAS a 60k car and their NEW car is the same price as our 10 year old car...
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Old 02-08-2013, 01:48 PM   #9
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Old 02-08-2013, 02:32 PM   #10
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OP: What you have is a very smart seller. He/she got rid of a 100K Mile moneypit.

You ended up with a $18K, 10 year old moneypit. Sure it looks better than a new corolla, but the new corolla would be cheaper in the long run.
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Old 02-08-2013, 06:09 PM   #11
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As long as you can work on it & keep up with the maintenance. Enjoy not just driving it but working on it too. Have the diagnostic & mechanical tools. have always $5000 or so in the bank always for the ///M3 just for any mayor problem that could come along & you don't fell comfortable doing yourself. Then you will be OK.

The depreciation of this cars is co-related to the high maintenance cost of the vehicle. So buying a corrola new at the same price you paid for your M3 taking both cars to their dealers for maintenance the corolla would be many times cheaper over the years of ownership.

If you can keep up informed with what & how to do most of the work yourself. Just enjoy your ///M3. We all know the driving experience is not corolla like

I got lucky with mine it's mayor maintenance free for the next 80k miles besides valves adjustment & potential SMG pump failure but previous owner replaced everything on it from all fluids, clutch, suspension, bushings, alternator. I mean the guy was a good freak his pops told me they had the car on a lift for a month at his shop replacing stuff. Even did the vanos for his piece of mind.

So just drive yours & enjoy it. The E46 M3 is a good car & I bet your neighbors die for a ride in it.
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Old 02-08-2013, 06:32 PM   #12
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Originally Posted by kiwami View Post

So just drive yours & enjoy it. The E46 M3 is a good car & I bet your neighbors die for a ride in it.
Do get a lot of compliments. I can't imagine for $18K, you get that much car.
So in that sense, in term of dollars vs. values, the M3 is way cheaper than the Corolla.
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Old 02-08-2013, 06:46 PM   #13
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I think it is a valid observation. There is an episode of TopGear where Jeremy and the gang buy decade old sports cars for the same amount a new (at the time) tiny little nissan with no frills is going for. They parked them on the public streets and asked passers buy what they thought they were worth. They got all sorts of replies which were double or triple the true cost.
However, one of them did point out the maintenance was the killer here. Bottom line is - yes, looks like a million bucks and if you enjoy it awesome. To each their own. Some people look at a car as transportation - period. To others it is more than that. Some people want more and are willing to sacrifice a bit for it...
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Old 02-08-2013, 07:02 PM   #14
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Non car enthusiasts tend to associate luxury automobiles as a luxury, nothing more. People that aren't into cars see them as a necessary expense, not a hobby. Therefore someone that can afford the expense of a luxury brand like BMW is typically recognized as a person who can afford a higher level of necessary expense when it comes to transportation.
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Old 02-08-2013, 07:31 PM   #15
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I think a $16 to $20K M3 is the best buy for the dollar.....I drive mine because BMW does not yet make anything I prefer over it, although a 1M was very close. At present, IMHO only a P Cayman or 911 is a better ride at even greater maintenace
Other than Valve Adjustments and OEM Diff fluid, the cost of Maintenance on my M3 is the same as 335 coupe......Often M3 oem and aftermarket parts are even cheaperor for the M3 than the 335 coupe...
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Old 02-08-2013, 10:24 PM   #16
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You can buy a Quattroporte for under 35k...
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Old 02-08-2013, 10:31 PM   #17
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Non car enthusiasts tend to associate luxury automobiles as a luxury, nothing more.
Agreed, people thought I was balling out of control when I bought my NSX. If they only knew they can be had for mid to low 20's. People automatically associate certain values to things based on the persona that the vehicle commonly portrays. Most new cars, even a Hyundai, cost more than that car did and I daily drove that thing to enjoy every second of it.

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I think a $16 to $20K M3 is the best buy for the dollar.....I drive mine because BMW does not yet make anything I prefer over it, although a 1M was very close. At present, IMHO only a P Cayman or 911 is a better ride at even greater maintenance
CS was at the top of my list for future purchase but the wife shot the two seater idea down after I sold the Acura. The maintenance isn't bad at all, long as you can do your own work. Having to be dealer dependent on the other hand, yeah, good luck with that one. But I agree, reason I am looking for an E46/M is for best bang for your buck factor.
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Old 02-08-2013, 10:49 PM   #18
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Truth. People that don't know cars at all are amazed when I correct them on the age of my car. A lot of people ask me if its like a 2010 or something. I tell them it's a 2000, they are shocked as ****ed. I just tell them I take really good care of my car. Neighbors also think I'm loaded because I have a bunch euros at my house all of the time. I tell them its because of my car club. Lol. It's funny, I enjoy it though. Makes me feel good about me maintaining my E46 this whole time.
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Old 02-08-2013, 11:07 PM   #19
Westrace
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Originally Posted by NFSx328ci View Post
Truth. People that don't know cars at all are amazed when I correct them on the age of my car. A lot of people ask me if its like a 2010 or something. I tell them it's a 2000, they are shocked as ****ed. I just tell them I take really good care of my car. Neighbors also think I'm loaded because I have a bunch euros at my house all of the time. I tell them its because of my car club. Lol. It's funny, I enjoy it though. Makes me feel good about me maintaining my E46 this whole time.
My boss who is not a car guy asked me if I bought a new car lols.
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Old 02-09-2013, 12:20 AM   #20
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