Okay, here's the deal...

The car is a '05 M3 SMG with only 8k miles on it. It is in splendid shape and the interior looks almost brand new, even better than my '06 IS350.

I got an offer for $42.9k and that comes down to about $850 over 66 months with $0 down. Currently I am paying about $800 a month for my IS350 and there are still 3 years until it was paid off.

Here's the question: Is it worth it?

 

I think so -why not get something you REALLY want to drive? I dumped my IS350 a few months ago because I wanted something sportier; I couldn't afford the M3 but that's definitely a car I was looking at.

I'd be a little worried with the SMG; assuming the car is not a certified BMW and the warranty ends in 09? Is it still extendable by the dealer?

 

Is it going to be your DD? Because being stuck in a relatilvely low torque, high revving car with manual tranny and questionable reliability for 5-1/2 years is

 

+1 +1


definitely agreed.

 

I was thinking of an E46 M3 for a daily driver, but three huge questions came to mind...
1) Could I really afford it if I have to finance for 60 months with the APR offered?
2) Can I afford maintenance on an M3?
3) After the loan is paid off and I receive the title (60 months), will the car still run well? Or will I have to start dumping money towards repairs now?

Don't get me wrong. I love the E46! But based on a friend's experience, it takes quite a bit of money to keep that car running in tip-top shape.

 

Wow tough, most of us here are HUGE E46 M3 fans. I guess as some stated this is how I see it.
1. The M3 will surely bring more of a smile to your face daily, which adds to your life experience bucket. It will cost more to maintain and it is an older car/design.
2. The IS 350 is pretty much as fast but of course less hardcore and more pedestrian compared to a M3. It will cost less to own.

You will surely drive the M3 slightly hard, which means lower gas MPG compared to the IS, something to think about.

Maybe MODIFY the IS?

OR pay the IS off in 3 years and buy a nice M3 for a great weekend car.

Good luck!

 

thats too much for a car thats outdated and now outclassed by cars that are in same price bracket brand new ( the 135i for example ), also the M3 can be a headache if its ur dd, parts are expensive.

 

$42.9 k !? for such an outdated car... get a 335i coupe and mod it... it is a much better daily driver than the E46 and will cost you less to maintain...plus it looks better IMO

 

You should try putting on the full f sport suspension first to see if you might be happier with the car before you decide to bail. You're going from 3 yrs more worth of payments to a whole 5 - 6 yrs more of payments for an older car. You'll probably be tired of that thing long before your payments are up. I've had my 06 for 2 yrs already and getting bored of it too so I just stuck on all the F sport parts and now it's almost like a new car. Personally I think 5 - 6 yrs worth of payments means you shouldn't really be in a car at that price level anyway.

 

we have both in the family, 07 IS350 and 06 SMG M3.

If both keys were on the counter, nothing is wrong with the IS and it's a great care but I would take the M3 key everytime. The fun factor on the M3 is just so much more than the IS. The M3 is so responsive to every inputs that you feel like it's part of you.

Is it worth it? Only you can answer that question but IMO, ~$43K is high for a 3-4 yr old car though.

 

Thanks guys for all your inputs, really appreciate it.

Let me clarify one thing, I am not unhappy with my IS350, as matter of fact I think it is a great DD. I was just casually looking at the E46 SMG M3s because it was always the car that I am interested in and this one apparently popped up couple days ago at my local BMW dealer.

I have made my decision, I am going to pay off my IS350 first before considering another car. In the mean time I'll probably put the F-sport sway bar on to reduce the body roll through corners (mine is already dropped with Eibach).

Again, thank you all for all your valuable opinions.

 

If you don't mind me getting my $.02 in...........you made the right decision.

 

Good decision, paying 40K or over for a used E46 M3 does not make much sense no matter what the mileage is like. I would wait or get one with more miles for the higher twenties and low 30's. If you wait to pay your car off you might be able to get one in the low to mid 20's and that would be a very good deal and buy.