2002 BMW M3: Still Hot

I love auto-up/down windows. And while I am still debating what to do regarding whether to wait on an E90 M3 or go ahead and buy an E46 M3, I must say my love for the E46 has not waned a bit. It is an example of what the Bavarians can do when they focus and remember just who the hell they are.

I took this to heart. Just picked up a new/old 2004 E46 M3 with only 33000 miles on it and, with the current state of the economy, I was able to pick it up for less than the price of a new Accord.

Just goes to show that all the little blemishes that we know and hate on our cars most people don't even notice.

I've been thinking the used route is going to be the way I go for my next car purchase. A used Lexus LS is at the top of my short list.

9 years old? Are you referring to the fact that it has a 2001 production date and it's going to be 2010 in 6 months? Because right now it's 7 or, at most, 8 if it's an early production 2002.

When I see an E46 M3 on the street, I still get excited like a little kid seeing the ice cream truck. You would think it would pass considering how old the car is.

Unmolested interior? I think you accidentally stole someone else's E46 M3, Brian. :o)

Yes, you can pick up a nice lightly used performance car for less than the price of a new Accord. However, if I'm paying $25K for a vehicle I don't want to be paying for any repairs, i.e. the used one does not have any warranty. With the high parts cost for most Teutonic performance cars that is a big factor......still, would love to have an E46 M3 myself.

The positive side of not having a warranty is that you can modify, if you're into that sort of thing, without worrying about voiding the warranty. High repair costs are worrying, but that could be justified with a low entry price into a solid performance car.

Still the best vintage of 3 series IMO. The looks beat the heck out of the Bangle design.

^^I agree about the coupe. It does look like the ultimate. There is a special pride you take in a sharp older car.

For so many reasons you can't consider buying an M3 against *anything* in the $24k price range new.

Most importantly, because there's NOTHING in the $24k price range that drives ANYTHING LIKE an M3.

Buying the M3 at $24k should be compared to buying something from Japan for $35k (Evo, WRX). And then you've got a car that is competitive (but IMO much nicer to own) -- and $11k in the bank to fund non-warrantied repairs.

Oh - and in my opinion we are 9 years later and this car is still the absolute pinnacle of 3 series design (the current 335 series motor excepted).

This is still the best looking BMW ever made by far. Especially in laguna seca blue!

Agreed that this is the best style found on any BMW. Tasteful, sporty, and clean.

"The positive side of not having a warranty is that you can modify, if you're into that sort of thing, without worrying about voiding the warranty. High repair costs are worrying, but that could be justified with a low entry price into a solid performance car."

Unfortunately if you really went about modifying it, it would cost somewhere around the price of a new car. It quite easy to get carried away. You might start out with some bang for buck mods and before you know it, you'll be installing everything from new fuel pumps and even getting interior upgrades. I can't remember owning a car that I managed to keep stock even if I owned them for a couple of months. You are right about the warranty though.

""Especially considering it's a few years old" I say. He looks puzzled. "

Had the same reaction from a guy I work with when he found out what car I drive (2005 Altima).

"I didn't know you got a new car. It looks sharp!"

"Thanks. I got it used."

"Really? what year is it?

"'05. It's got 50k on it now."

"It looks like new!"

Is there some reason these new posts aren't showing up on the longterm 2002 test. the latest one on their is June 1st.

Still the best looking M3 - much better looking then the current M3 sedan or coupe. I used to love BMW designs, but they've really tanked lately - I cringe at the current 3-series.

@ocramida: The E46 was a Bangle design.

Maybe I am too much of a fanboi, but all iterations of the M3 are special and beautiful to my eyes. They all introduce enough of differences compared to the standard issue 3 that makes you do a double take. I would love to someday collect the best version of each generation to complement my E90M3 (E30 M3 Evo, E36 M3 Evo, E46 M3 CSL). Maybe I should start with the AutoArt models for now. ;)

love the E46 M3s... what do you all think is the best color combo?

as memory serves me, my favorite color was something called "mystic blue" - that with the ZCP competition pkg pretty please

I like LSB / laguna seca / smurf blue... but probably too "arrest me!" for my taste

ditto phoenix yellow

neat blast from the past (looks like your tester was spec'd just like my dream E46)

http://www.edmunds.com/insideline/do/Features/articleId=121417

cheers
T

"However, if I'm paying $25K for a vehicle I don't want to be paying for any repairs, i.e. the used one does not have any warranty. With the high parts cost for most Teutonic performance cars that is a big factor......still, would love to have an E46 M3 myself."

Agreed, however, even the expensive maintenance cost on Edmund's M3 plus it's one year depreciation is still less than what the depreciation hit would have been on a new M3, or even a new $25k vehicle. And actually, the maintenance costs weren't *that* bad on Edmund's M3. Maybe they got lucky, but it's far less than I thought it would be, and could have been less if they used indy shops or did the work themselves instead taking it to a stealership.