Does it make sense to spend $$$ on a "clean, lower mileage" M3?

[MTiz]

Interesting internal discussion that I was having with myself recently. Does it make sense to spend $20k-$25k+ for a clean and lower mileage car (80k or less) that has been maintained but NOT had the big three done, versus a higher mileage car (120k+) that has also been maintained but hasn't had the big three done?

I've heard multiple members state that Vanos/Bearings/Subframe are ticking time bombs that could have catastrophic failure at any given moment, and that mileage literally doesn't matter. So would it be foolish to pay a premium for lower mileage? At any given moment I could find more than one Tiag/Carbon Black M3's with 120k+ that haven't have the big three for around $15k or less, in contrast with the Imola/Imola with 76k that I'm eyeing ($25k), as well as a CB/Black with 64k ($25k) and a Phoenix Yellow with 67k ($28k).

This discussion is strictly referring to manual coupes naturally.

[Inizes]

What are you planning on doing with the car? 80k on the clock doesn’t really seem to be current collector grade, for that I would argue something >50k. So assuming you plan on driving 5k+ miles a year, I would think the premium isn’t worth 10k for a very well maintained one. Age is getting to these cars even if miles haven’t. Things will need replacing regardless.

[Bostonbruck]

$20-$25k is the perfect amount to spend in my opinion. At that’s price point it’ll be a nice clean car, and you can enjoy it. Imagine driving a $50k m3 around town. I’m sure as hell you won’t be putting tons of miles on it if you had a low mile example. 80-100k mile range is perfect, where it won’t be too unreliable but it also won’t be too low mileage that you’re scared to have fun with it.

[MrClutch55]

But some of these $20-25k cars, they dont even have the big 2/3 done (vanos and subframe, and lots of lci owners say their rod bearings are “okay”. So exclude that 1/3). Their selling point is coupe, 6sp, clean stockish and lower mileage, but maybe poor or lack of maintenance. So for the peace of mind, u still have to put approx another $5000 into it.

[rbg]

I would rather get a clean high milage car for cheaper and properly dress everything myself. That what I did. Also I think that if you get a low milage more collector car you will not be driving it properly and would be more incline to garage queen it. What was it on the old m3forum about lower priced cars: used e46 m3 will cost you 25k+ no matter how much you pay for it :-)

[jvit27]

MILEAGE ≠ CONDITION.

I've seen high mileage cars in great shape and low mileage cars that were trashed, so that should not be the sole barometer you use. Same goes for price ≠ quality. Some incredible deals can be had on certain color combos and SMG cars (see 6MT conversion value proposition). Lower mileage does increase the odds of it being a nicer car, especially as the platform ages and wear & tear things like paint and interior that are very costly to R/R should be more of a factor than having to replace bushings etc. Too many people expect "the big three" to be done at ANY price point, and unfortunately that results in some sellers' lying about it. You should always buy the best car you can afford and that includes a diamond in the rough. Familiarize yourself with the costs and nuances so you know what you feel comfortable looking past. All E46's will need something depending on the next owners's level of pickiness and planned use. One upside to a car that has *not* had potentially shoddy repairs done is you can oversee them done by someone you trust which ends up being short money in the long run.

Maintenance is key before and after. Don't fool yourself into thinking that your price of entry for a car will abscond you from potential costs down the road either, it IS a financial commitment having an older sports car. Purchase price is just the beginning... but if you take good care of an M3, it will take good care of you. If you cut corners well let's just say you'll end up in a Facebook group with the rest of 'em

[cbean]

Lots of great advice above...

My 2cents, I just purchased a 2005 @ 80K . . . I am currently doing the big three, so my car will effectively be a low 20K car at that point, but I am getting to oversee the prevention by a great mechanic, and will feel confident in the repairs. After looking for about 2 years, I learned you are buying the previous owners almost as much as the condition of the car.

I made a few compromises; I would have loved Phoenix Yellow, or white ( mostly yellow ), manual, and a few other odds and ends.

What I found was a car that seemed to be really appreciated and cared for, at a decent price, not a bargain ( for me they are always to good to be true ), but a decent price.

Do a lot of research, but when you find the car you need to be ready to pull the trigger, the good ones seem to disappear pretty quickly.

[Nate047]

I'll echo the mileage is not equal to condition sentiment. I bought a car that I thought would be good condition because of the relatively low mileage. I was wrong as hell and have been catching up on shit ever since. Now I've basically spent 25k on a car that isn't as clean as if I had just bought a well cared for car for 25k. Live and learn or whatever, but you can maybe learn from the mistakes of others.

Long story short, make sure you check the car VERY CAREFULLY before buying. And don't let sub 100k mileage trick you into thinking a car is by default going to be clean.

[MTiz]

What are you planning on doing with the car?

For the moment? Garage Queen/Second car that I may drive 2-3 times a week, pandemic aside. In a few years as income continues to grow the goal would be to eventually transition it to a daily/beater car. The goal would be to eventually take care of the big three (and to buy a car with one or two of those done already) but I'd like to get one that won't blow up a week after I purchase it. But its been said it could happen at any mileage, so my question is does mileage even matter when searching (assuming a car with 70k-80k hasn't had the big 3 done, and a car with 120k-150k hasn't had them done either)?

You should always buy the best car you can afford and that includes a diamond in the rough. Familiarize yourself with the costs and nuances so you know what you feel comfortable looking past. All E46's will need something depending on the next owners's level of pickiness and planned use. One upside to a car that has *not* had potentially shoddy repairs done is you can oversee them done by someone you trust which ends up being short money in the long run.

Maintenance is key before and after. Don't fool yourself into thinking that your price of entry for a car will abscond you from potential costs down the road either, it IS a financial commitment having an older sports car.

So my scenario for you is that my budget is $25k. Let's say I find an M in my preferred color combo, 70k-80k miles, has been dealer/indy-maintained but hasn't had the big three done. I find a different car that has around 120k-130k miles, and has been maintained by an indy shop but also hasn't had the big three and is in a combo that I really don't want (Tiag/Dove, Carbon Black, etc). The first car is $25k and the second one is $15k, which one would you go after? I understand it's a lot of hypotheticals but try to humor me 😀. I understand buying an E46 M3 is a terrible decision but I do want to go about it as responsibly as I can on what I believe is a decent budget

[Kcalhoun27]

Both of your examples need more money pumped into them. The real question is would you rather have a certain color combo or not? I wasnt set on a color myself, i just wanted a car to bring back to life. Ended up with an OG with 130k and honestly, i couldnt be happier with my choice. But it sounds like youd rather have your preferred color and if you can afford it, you might as well just do that. You will spend the money no matter what. Might as well spend it on something that matters to you

[Mainman857]

I'm new to the BMW world and i faced this exact problem.
I ended up going with a 06 comp package with 128k 4 owner car with the current owner owning for 3 years and did about 2k in new parts last year but none of the big 3 done. Paid 14,750. Sent it off to get 2 of the big three done a week later to be safe.
rod bearings where fine but vanos tab was broke off but they found the pieces.
doing some bushings, mounts, valve adjustment and other things at the same time. Il be just over 20k into the car at the end of the day.
my advise is get what you like as people have said. Weather you spend 25k on a "clean low" mile car or 10-18k on a higher mile car. Just get what you want to drive/own. Just know your spending the money now or later.
best advice I can give is. You can always buy a car next week but once you have a car your stuck with that car. Take your time and choose what YOU want.

[jvit27]

So my scenario for you is that my budget is $25k. Let's say I find an M in my preferred color combo, 70k-80k miles, has been dealer/indy-maintained but hasn't had the big three done. I find a different car that has around 120k-130k miles, and has been maintained by an indy shop but also hasn't had the big three and is in a combo that I really don't want (Tiag/Dove, Carbon Black, etc). The first car is $25k and the second one is $15k, which one would you go after? I understand it's a lot of hypotheticals but try to humor me 😀. I understand buying an E46 M3 is a terrible decision but I do want to go about it as responsibly as I can on what I believe is a decent budget

Ok let me try to distill it down 🤓

+/- 75k is the first unofficial wave of major maintenance. Original suspension, cooling system, etc are all pretty tired at this point and one-by-one mechanical components will start to require replacement, whether preventatively or posthumously. And that's the real fork in the road for any car... either it will age well in the right hands or it's all downhill from here. This is the crossover point to where the car is approaching the bottom of it's depreciation curve relative to it's age and repairs basically become a value proposition to most owners. The few passionate enthusiasts will spend whatever is required to keep the car 'mint'. Most will try to minimize expenses and spread the common jobs out between 80-100k mi and/or use it as an opportunity to start upgrading. And then some will defer these expenses and cut corners, inevitably dooming examples to the bottom of the barrel.

That being said in your scenario I'd go for the $25k car all day long. That can buy you ALOT especially if you negotiate. I think in your case you should aim to be around $20k so you have a rainy day fund. When dialed in these are really satisfying cars to own and still punch above their weight, so I don't think it's a terrible decision at all because you'll find you always end up comparing it to more expensive cars to appreciate the value. They look good in so many colors that it's hard not to want a different one even when you do have the color you want.. so if you get the one you don't, you'll always be wishing you did. And I hate to say it but while $5k can get a lot done, it won't last that long either. A ~125k mi car will be approaching the next wave of replacements so it's not like you'll eek that much more driving out before likely having to spend some money again.. the big three don't have to be done immediately either. They should be monitored but the 70-80k mi car will definitely buy you some more time to budget for them.

Lastly consider the more expensive car will also have better resale too. Since you said it will be a garage queen, if you put 25k mi on the car over the next five years it will still be relatively low at ~100k mi. But the cheaper one will be pushing 160k mi and then it will be stigmatized no matter how clean it may be, just won't be able to ask that much for it.. Spend now or lose it later, it's not a big difference when you break down the cost delta per year so you may as well get the spec you want. It will make a difference in your ownership enjoyment

[Bostonbruck]

Agreed on the maintenance. It’s better to get a higher mileage example that has had everything done, vs a low mile example with nothing done. It all depends on what you want to do with it.

[sina]

They look good in so many colors that it's hard not to want a different one even when you do have the color you want.

This is so true lol, I got the exact interior and exterior combination I wanted and every time I see an Alpine White, Silver Grey or Interlagos car I'm like, damn maybe I should've gone for that instead. I know it's not super popular but I even love a really clean, minty TiAg.

[MTiz]

That being said in your scenario I'd go for the $25k car all day long. That can buy you ALOT especially if you negotiate. I think in your case you should aim to be around $20k so you have a rainy day fund. When dialed in these are really satisfying cars to own and still punch above their weight, so I don't think it's a terrible decision at all because you'll find you always end up comparing it to more expensive cars to appreciate the value. They look good in so many colors that it's hard not to want a different one even when you do have the color you want.. so if you get the one you don't, you'll always be wishing you did. And I hate to say it but while $5k can get a lot done, it won't last that long either. A ~125k mi car will be approaching the next wave of replacements so it's not like you'll eek that much more driving out before likely having to spend some money again.. the big three don't have to be done immediately either. They should be monitored but the 70-80k mi car will definitely buy you some more time to budget for them.

This is basically the advice I was looking for, I appreciate the response. I have the advantage of time on my side, so I definitely don't mind waiting for the right car and paying a premium for it--I just want to make sure I'm smart about it. And the goal is to definitely negotiation the price as much as possible

Both of your examples need more money pumped into them. The real question is would you rather have a certain color combo or not? I wasnt set on a color myself, i just wanted a car to bring back to life. Ended up with an OG with 130k and honestly, i couldnt be happier with my choice. But it sounds like youd rather have your preferred color and if you can afford it, you might as well just do that. You will spend the money no matter what. Might as well spend it on something that matters to you

Oxford Green is my absolute dream color, even over Imola/LSB/Interlagos, super jealous of you!

This is so true lol, I got the exact interior and exterior combination I wanted and every time I see an Alpine White, Silver Grey or Interlagos car I'm like, damn maybe I should've gone for that instead. I know it's not super popular but I even love a really clean, minty TiAG.

I use to really hate TiAG but a clean one looks really good in the right lighting, and its definitely classic BMW, and I vastly prefer it over Carbon Black (my least favorite). I'd personally prefer a car with a brighter color though.