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well, if i remember correctly, those m3s have plastic rear windows, which tend to turn yellow or get torn easily. I had a honda s2000 (2005) just for a year, and it was starting to get little rattles, etc., and that is probably the most reliable soft top on the road. But, then again, m3 owners tend to take excellent care of their cars.
Also, one thing I remember hearing about the older m3s was major suspension problems, where i think the rear suspension bolts were too weak, or something like that. So best to have it inspected somehow