Long-Term Test: 2002 BMW M3 (Introduction)

I'm really pleased to see tests of used cars. It's a wonderful way to buy something great instead of just an average new car.
 
I'm looking forward to see how it holds up long term..... (meaning I'm hoping for the best as I could see buying one of these).

Great car. One performance mod that is a must is the strut bar. 2003 and new models have it as standard equipment.
 
Also, use 10w60 oil, not 5w30 or 10w30. Earlier models specify the 30 weight oil, and it led to rod-bearing failure. BMW changed its recommendation since, requiring only 10w60.

teekay13, as of June 2006 when I left the BMW service department I was working at, it was actually the other way around. BMW recommended usage of Castrol TWS 10W-60 in the earlier E46 M3s and Castrol 5W-30 in the later E46 M3s (although either can be used on the later ones). Don't believe me? Just visit your local BMW dealership's service department and look at the BMW of North America-supplied oil/inspection service checklists for different model year E46 M3s. BMWNA's latest oil-related Service Information Bulletins (SIB) would probably have similar information as well.

I am very excited to see this brought into the long term fleet. There is something about the rasp of the s54 that just gets me all randy. I will look forward to entries!

Brilliant looking car: black on red!!
 
Will be interested in following the progression of this test.

Next time a used long term car is bought, could there be a poll beforehand where Edmunds users choose one long term car from a selection of, say five? I think that would be neat.

From the intro article:
 
Scott,
 
The M3 redlines at 8000rpm, not 7500. The car has an adjustable tach which increases max revs as the engine warms up. The yellow 500 rpm increments will gradually disappear giving you all 8000 available rpm.

as much fun as it is hearing about the ferrari or now the M3, this site is becoming less and less useful to a wide car-buying audience. 99.999% of the public would never even consider buying one of these cars used, however the real world evaluations of new models is extremely useful. bravo, edmunds.

kev I disagree with you. I think that alot of the car buying public likes the one or two 'fun' cars, because as some of us get older, these become optitions

kevlang,
 
I agree. Even if this vehicle is cheaper than a loaded Accord no one is going to get this instead of a loaded 2008 Accord. The good thing is it will give us insight into how expensive it will be to service a used BMW not covered under their free maintenance program.

Don't forget folks- Edmunds is on their SECOND broken down Ferrari. They had a terrible 456GT a few years ago that spent 50% of it's life in the service bay. Owning these sort of cars requires plenty of "rainy day" money for their expensive service visits and imminent part replacement. Scott wrote his intro as if the M3 didn't have a boat load of miles on its clock. I don't know about you guys, but a 5 year old M3 is not on my list of dream cars despite fitting that supposed demographic. Gimme a loaded CTS instead.

I read the intro and it was noted how this is the dream car for many folks. Not sure about that one, I think it is for a certain demographic of people. I dont live in SoCal but I can say the M3 isnt all that rare in my area. Its not exclusive and I'm not sure I fit in with the type of people that I see behind the wheel.
 
I have seen a few negative comments on various sites/reviews about the Malibu and its red/black interior. No such negativity about BMW interiors like this Edmunds used car. Seems to me this M3 has about as much red inside as two Malibus.

I think it's great. 50K miles is not a lot for a 5-6 year old car. I really dig the red leather. I had no idea it would be so affordable. Really interested to see how reliable it is.

As a BMW fan (I'm an admitted BMWCCA member and intend to pick up either a 2001-2003 530/540 manual, Z3 M Roadster, 135 6-speed, or 335 6 speed) I think this is a great addition.
 
This site is not necessarily for the general public. It is geared towards the enthusiast public, some of whom drive Accord's and would like to own a BMW one day.
 
You know Edmunds had a brainstorming session and someone said "You know how you always think "What if..." everytime you pass that Ferrari for 30k? Why don't we try it out." So now they can answer the question of 'What if?'.
 
To me, the 2002 M3 is an even better choice. BMW, in many ways, bridges the gap between everyday and exotic. It's got the performance levels and track-ready build, but it also has enough everyday practicality and more reasonable costs-to-own (than, say, a Ferrari).
 
To expand upon Scott's introduction, and to add my own two cents and driving experience of a 6-speed 2002 M3 (bought in Germany by an Army Dentist and brought back with him to the U.S.)...if you've never been inside of one, you are missing something special. It's a cockpit, and it feels absolutely rich and luxurious in a way the new (2006+) BMWs lack. Everything is richly padded luxurious leather. The tach is prominent, and, as pointed out, has a redline that increases as the engine warms up (i.e. ~4000-4500+ rpms shows up in yellow/red when you first start the car, and gradually fades into the background as it warms up showing you when it's safe to rev the engine).
 
I really hope Edmunds decides to modify the exhaust. The engine might sound glorious, but the exhaust note is terrible stock. It is tinny, hollow, and completely unsatisfying and unbecoming of a sports car. The regular 3.0 liter of the same era sounds loads better stock. 19" wheels and tires? Why? This isn't the CSL version, and you've already got sticky, low-profile, tires. It will only slow down your steering response, braking, and acceleration by adding more mass to move or pushing the rotating mass further from the hub.
 
Joe

I realize that it is because they hold their value really well, but used M3's have never really struck me as a great deal. I can safely say that I would not pay $30k for a car with no warranty. Having said that, I would love to own one someday.
 
mr215: I'm not sure that Accord buyers would really want an M3, but the new-ish used car market is huge. That's why places like CarMax are doing so well while other dealers are dying. People are realizing that buying a brand new car is poor business and that it's much smarter to buy a car after it has taken its initial hit in depreciation. You usually end up with a car with an excellent CPO warranty and very few miles on the clock for a lot less money.

used cars are better deals but $30k for a used car with 50k miles isnt a deal in my eyes, especially when expensive maintenance is part of the deal. For an M3 fan the used M3 us great. for people who need more practical transportation its a little steep. I'm not sure its a no brainer to get a used M3 as opposed to an Accord if you need the practicality and reliability of the Accord. Over the course of 5 years you can sure bet the Accord is going to cost much less to own than a BMW.

It is really a good thing most people follow herd mentality and buy "safe investment" cars like Camry and Accord. It makes "premium" cars like BMW and Mercedes surprisingly affordable for people who appreciate them. Several times in my life I purchased a used "premium" car after having test driven all the "safe investment" cars in the same price range. For the same amount of money as a Corolla or an Accord I and my family can enjoy something truly outstanding.

I actually look at the new cars now to see what I'll be interested in buying used a few years down the line. This way I get to hear disaster stories of new-car buyers dealing with recalls and such, and thus avoid those cars in the used market.
 
Case in point: I was interested in the mid-life refresh of the '05 Altimas when they came out. Saw on in the Carmax website that was outfitted exactly the way I would want it from the dealer's lot. It was a leased vehicle with 35k on the clock. It was offered for a little under $15k. That's not a bad deal as far as I'm concerned.
 
Harping on a car magazine that does exactly what a lot of auto-buyers are doing doesn't make sense.
 
Kevlang--Are you saying Edmunds dropped the ball by not buying a used '02 Pontiac Aztec and seeing if they're still ugly used as they were new? What would be a more appropriate purchase then? A Sebring convertable? Mustang?
 
The M3 was a good buy. Mid-life crisis equalizer, here we come!

"Over the course of 5 years you can sure bet the Accord is going to cost much less to own than a BMW."
 
mr215, over the course of 5 years a Geo Metro is going to cost much less to own than a Honda. And so will a bicycle.

"mr215, over the course of 5 years a Geo Metro is going to cost much less to own than a Honda. And so will a bicycle."
 
Point is the argument was made "why buy a $30k Honda when you can get a $30k used BMW?". I was pointing out that you have to look at more than the purchase price. The M3 is a high performance car and its going to cost a lot more to own and is less practical than any similarly priced family sedan. Its not a simple decision just because you can own a BMW for the same price as a "lower" badge. BMWs status exists because of the prestige people associate with owning one. I'm not a big proponent of the idea that the badge alone is worth several thousand dollars. You will impress more people with the $30k used BMW but in the long run your pockets will feel the pinch. Even I could afford a $30k used car I dont think I could afford the maintenance/repairs on that car.

Altima- An Aztec is no uglier than a prius. In fact, they look almost the same in profile

I love that you guys do this for long-term tests. I could swing a 03-04 M3 and have thought about doing just that but I’ve been worried about costly repairs. There is a phrase “Never own a BMW without a warranty” that I have heard more than once. To possibly offset this I’ve thought of getting a 02 for under 30k and saving the 3-5k I would have spent on an 04 for possible repairs.
 
One thing that would be nice is if you do need a repair is contrast what the dealer would charge to fix it to what an independent BMW shop (probably many in Southern California) would. Perhaps it’s just the high per hour cost of dealers that scare people off.
 
You guys who say paying 30k for a 5 year old car is crazy I don’t get. Sure there are lots of new or newer cars you can get for 30k. There are also lots of cars that cost 50-70k you can’t afford but after 3-5 years you can. Most modern cars will run 150-200k miles without the engine falling out. Also the e46 M3 holds it value well. You could sell the car in 2-3 years for probably 22-24k. Try that with your new Accord. Seriously Accord vs. M3! No one would even consider the two.
 
In a few years you all need to get a used GT-R in for a long-term test, that’s what I want to buy in 3-4 years.

Interesting side note: A 2005 BMW 330CI with the performance package (code named ZHP) would cost around 30k with 30k miles on it and a CPO warranty. 235 HP, 3.0 liter engine, 6-speed trans, 18" wheels, M suspension, alcantara interior bits, a little extra. But it's not the M3....and that makes a huge difference.
 
Didn't Edmunds do a long-term test of a used 2001/2002 BMW 530i automatic and found it was costly?
 
My prediction: Edmunds will spend ~$2500 to maintain the car over 20-25k miles. Probably two new tires ($500), several oil changes at $150-200 a piece, and maybe one repair item. This might sound like a lot, but look at how much Edmunds has spent on a brand new Honda Fit to maintain it over 20+k miles.
 
Joe

a used luxury car is always a better deal than an overpriced brand new one. Even so, far more people buy new cars with warranties than comparably priced used luxury cars. Obviously having a brand new car with a warranty and low maitenance costs still counts for something to many people. If I have to spend $30k on a car I would love to have LOWER operating costs than higher costs even if that means driving a car with a less prestiguous badge.

Another mod recommendation would be the forged 19-inch Competition Package (ZCP) wheels. I think they're the same as the European E46 M3 CSL wheels. I believe they may be made by BBS, but could be wrong.

lol joe it seems you were talking to me in that 1st post. i drive an accord and would like an X3 (hopefully with that new 335d engine thats going to be at the detroit autoshow) but after my future red or green on "sand beige(who wants regular beige?)" Jetta 5cyl.
 
I like the idea of the m3 vs the ferrari. I just wish insideine luck with ownership and getting no tickets(unlike the 330i and mini cooper).
 
On the mod that edmunds wants to do, I would like to add trying the Dice or Intravee ipod adapters.
Heres a youtube comparison link. (I think it'll come in handy because i know most of the drivers own ipods and hate not being able to use them.)
 
http://www.youtube.com/watch?v=ZTG22HWPZ5A&feature=related
I wish i could work at edmunds!
-Cj

I'll cast my vote for the M3 being a great addition to the LT fleet. Some folks get so up in arms when Edmunds buys a car they would never consider, but I think this will be a really informative test. As someone said, a used M3 is the only M3 many could ever afford, and isn't it great to let someone else spend their money seeing how much one costs to maintain? And isn't it also great to hear how well the BMW experience holds up after five or six years?
 
On another note, no one said a family man in the market for a new Honda Accord should instead spend his $30K on a used M3. The comparison merely puts the initial cash outlay into perspective.

Me personally, I wouldn't get a used car more than 3 years old which is roughly equivalent to one full lease. There's no car that I covet enough to get with 50k miles on the clock. The way technology is advancing, previous luxury-only features are now popping up on small mainstream cars. Take HIDs for example. Originally, the BMW 750iL, pre-'99 S/CL 500/600 and Lincoln Mark VIII were the only cars that offered Xenon lights. Now, Mazda3 GTs come with them standard for $22k along with rain sensing wipers and LED tail lamps.

the M3 doesnt have a lot of cheaper alternatives that are directly comparable but most luxury cars do. Even so, I would think a used G35 coupe would be an impressive coupe alternative for far less money.
 
Hopefully the M3 wont monopolize the blogs going forward but that may be a tall order. Its not quite as silly as having a 20 year old Ferrari in the fleet or a Ford Gt in the fleet.

Allow me to be shallow: I love the red!

The interior is very similar to my own, which I very much like.
 
I actually considered a '00 BMW M3 convertible when I got my commission. I didn't buy it (I got my S2000 instead), but it sure was tempting. It felt great on the open road. Now I'm curious what I missed out on, albeit a different year.

Nice car. Can't wait to read about it.

I have to say that the M3 is my favorite car that I can actually afford. Sure Id love to have a F430, or a Carerra GT but those cars and my wallet have a strong disagreement.
 
Reasons I LOVE the E46 M3:
 
1) Timeless yet simple, classy, dignified styling.
 
2) Great performance, soundtrack, and communicative EVERYTHING!
 
3) Jekyl/Hyde demeanor. Translation: Aggressive enough for track duty yet civil/luxurious enough to take my wife out for a night on the town.
 
4) That super refined silky high revving snorty inline 6!
 
5) Makes a great GT.
 
6) I...well we can afford one.
 
7) The ///M button.
 
Reasons I dont like the E46 M3:
 
1) No M3 sedan.

Whoever is in charge of Edmunds long term vehicle acquisitions deserves a great big raise.
 
Getting the M3 was a great idea. That is one gorgeous car. Love the interior.
 
The only concern I would have, is that if the car has problems, is it because of BMW or the type of car it is and the type of driving it encourages.
 
I love the expanding rpm range as the engine warms up. I have a silly question, however. Can you exceed the cold engine limits if necessary? Just wondering. Again great choice and happy motoring.

Aurakr: No, you can't exceed the cold limits. At least this morning I wasn't able to, it was a bit of a surprise. I forgot that it changed.

Thank you for that bit of information.
 
I just wanted to clarify what my concern was. The car is 5 years old. Any issues that might come up, are they a design flaw or possibly the result of someone driving a car hard for 5 years.
 
In other words, a minivan is more likely to not have problems as it does not encourage enthusiastic driving, but a car like this definitely encourages it.
 
So any problems that might come up, that will be the big question. I know, buy a brand new M3 and test it. I volunteer to help :o)

Heh, cool. This will be an interesting read!
 
hondacura, there's always the upcoming E90 M3!! If you're willing to go V8 instead of a screaming I6, that is. ;-)

I'll be very interested to see the results. If it works out well, I might consider ditching my '02 Accord--if not for an M3, at least for a stick-shift 330Ci.

Let's see which one breaks down more often, the M3 or the 308......

Good question. . .

"hondacura, there's always the upcoming E90 M3!! If you're willing to go V8 instead of a screaming I6, that is. ;-)"
 
Ive seen the new M3 sedan in pictures but it just doesnt look right. Ill have to wait to see it in person.
 
Even though the new M3's V8 is far superior to the E46's I6 several journalists have found the old iron block I6 to be more playful or aggressive as the V8 seems to be too relaxed in comparison. The new M3 is sure to set the standard again in its class but I cant see myself paying that much money for a car, my wife would shoot me!

You mention in one of the picture captions that "The spare tire has never seen the road." That's because there isn't one. There's the M-Mobility system which is essentially a combination air compresor and can of fix-a-flat.