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Old 01-27-2009, 09:14 PM   #1
eljay
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How much ///M can I buy?

So, my budget is around $33k and I've always longed for an M3. But I know that in this price range I would likely be buying a car with no warranty on it.

Can anyone give me advice on what should I look for in this price range?
I think a lower mileage 2004 or high mileage 2005 M3 Coupe should be attainable correct? Could I squeeze CPO into this price range?

Which one would you go for? Are there any other options/deals?

Also, I intend to do 3-4 track days and 5 or so autocross competitions with the car, so that may sway the choices too as things tend to wear quicker in those scenarios.

Thank you!
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Old 01-27-2009, 11:56 PM   #2
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^ I think with your budget you might be able to get a car with warranty still. Ironically I was looking at this yesterday and thought it might serve as a good marker for your search. Car sounds very clean, and with negotiation doesn't seem too out of your price range. Are you only looking for '04 and '05 ? Understandable if so, I wouldn't want to purchase anything pre-'03 when it comes to E46 M3's if I were seriously looking at this moment.

http://toronto.kijiji.ca/c-cars-vehi...AdIdZ101767524

Best of Luck
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Old 01-28-2009, 12:02 AM   #3
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^ Agreed, I would look for an 04-05 which might be slightly above your price range, especially if you include tax. I would go for 6-speed over SMG, for maintenance's sake, my $0.02
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Old 01-28-2009, 12:09 AM   #4
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Originally Posted by JNSchnitzer View Post
I would go for 6-speed over SMG, for maintenance's sake, my $0.02
Definitely agreed also, maintenance sake & for personal preference (at least for me)

If you are not year sensitive, there is this car that was posted up for sale a little while ago on here

http://www.maxbimmer.com/forums/showthread.php?t=113126

I had a chance to see the car when I was at the dealership, it is owned by a Technician at Budds BMW, quite a clean example w/ warranty for well below your price range.
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Old 01-28-2009, 09:02 AM   #5
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You want to buy a serious car, check this out, i just spotted this and its a new ad as well. This is one of thenicest benz models ever! And this is a pretty crazy deal as well...

http://www.trader.ca/Search/Details....7475592%7C
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Old 01-28-2009, 09:26 AM   #6
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that benz is pretty dope... but do you think he wants to drive a boat around the track??
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Old 01-28-2009, 09:28 AM   #7
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get ready to spend a lot of money if your doing track days .. tires .. brakes (especially on an M3) .. and possible mistakes that can cost you more.
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Old 01-28-2009, 09:44 AM   #8
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Thanks for the replies everyone.

I should have mentioned that I'll only consider 6-speed. I don't want nav, or any HK audio package or sunroof etc.. Obviously, I may not have a choice buying used, but I definitely don't want to pay premium for such options.
That CL500 looks very nice for the price, but I'm sticking to M cars. Plus all AMGs are automatics, so that rules them out for me.

Yes, track days can get expensive with tires, rotors/pads, brake fluid, oil changes and I know that's just the "consumables"!

That's why I would want to have at least 6 months of warranty left in case something comes up during the first couple of track days of the season, so I can have it corrected if it's covered.

I should be in a position to buy in early March.

Keep the suggestions coming.
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Old 01-28-2009, 10:14 AM   #9
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I know, I just saw that deal and wondered a little bit about it.... If my car was sold, i would of bought it by now thats for sure! All it needed was tints and rims!

But i hear you about the 6spd! Manual is the only way to go. I've been a M3 fan forever, and i think i have the closest thing to it lol... But if our dollar wasnt so bad now, id say go to the states and hand pick a crazy exotic package which cant be found here..... Buy it private off some wealthy guy which is willing to sell it for cheap, I saw amazing m3's going for 20$ USD there, with all your expenses it will run you around 26 thousand to bring it here.... always an option. thats what i did..
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Old 01-28-2009, 10:14 AM   #10
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No warranty could be transferred from US to Canada though! thats another problem..
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Old 01-28-2009, 10:28 AM   #11
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i got my m3 before the big price drop.
and i'll tell you one thing about buying and owning. if its too cheap to be true, theres lots of work to be done and probably isn't worth it. also, be prepared to fork out money on maintenance. oil changes are $100 and up if you do it your self.
smg's are known for hydraulic pump failures but other wise are reliable.
looking around a bit, i'd say a good late model "low miles" car would be somewhere in the mid to high $30k. i've seen a lot of cars when i was looking for one and let me tell you, a lot of cars don't look to be maintained that well and have been abused.
look out for rear subframe issues and get the rear subframe bushings replaced once you get it.
good luck on your find.
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Old 01-28-2009, 12:20 PM   #12
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If you're going to be doing a lot of track days and auto-x with the car work another set of rims with r-comps and a set of track brake pads into your budget. A set of race spec pads and SS lines makes a very noticable difference in braking performance.
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Old 01-31-2009, 01:04 AM   #13
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Quote:
Originally Posted by Dinan_M5 View Post
If you're going to be doing a lot of track days and auto-x with the car work another set of rims with r-comps and a set of track brake pads into your budget. A set of race spec pads and SS lines makes a very noticable difference in braking performance.
Thanks. I would certainly invest in a dedicated set wheels and r-comps.

So, if the price is the same, would you guys go for 2004 with 50k kms or 2005 with 80k kms?
Are there any magic thresholds to look out for with E46? Such as "get ready for replacing this major thingy at 90k, so you should buy the 50k car".

Thanks.
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Old 01-31-2009, 01:22 AM   #14
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rear trailing arm bushings are a must to change every so often. (forget the milage).
valve adjustments every inspection 2 or when needed.
otherwise its not that bad.
i say go for the 2004 cause its the same as the 2005 but its got less km.
i can't really think of anything else right now when it comes to maintenance but i'm sure a search on m3forum would result on lots of reading.
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Old 02-03-2009, 04:29 PM   #15
eljay
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Sooo, I was just looking at some black book values and came across this:

2004 M3 w/80,000 kms = 2008 135i w/20,000kms !!! What?!

I guess it's true that new cars and off-leases are taking a beating.

I know that //M car is something else, but this got me thinking...

So, if it was indeed possible to get the same price, Would you take higher mileage E46 M3 with no or little warranty OR low mileage 135i with another 3 or so years of warranty and free maintenance?

Thanks!
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