Every issue of Roundel, at the back, in the classifieds, it seems to me about 50% of the cars are late-model M3 convertibles or coupes. Why is that? Do people not enjoy their E46 M3s?
My guess is that these people bought them either new or CPO when the economy was a lot better and now that we've landed in this sh*thole they're trying to get some cash together by selling their cars. Anyone other reason is beyond me...
My guess is the personality type purchasing an M3 is looking for the latest and greatest or at least the most bang for their buck (thinking E36 version). When a new version appears and they are in the position to purchase it, the earlier model goes up for sale. We tend to buy them and hold them, but I know many folks who are very interested in keeping updated with the evolving technology. Just my opinion...
I'll agree with both remarks above. Me? I ordered mine new in 11/05 with the full intention of keeping it many years with selective modifications to make it unique to my tastes. I drive it everyday and nothing clears out the head in the morning and afternoon like a couple of WOT blasts to and from work. Toyed with the idea of new V8 M3 but don't feel like plunking down ~60 large getting the car payment mode again. There's something about a paid for auto that is pretty nice.....
Yeah I have. As far as SMG cars, I think a lot people went in thinking that SMG=Automatic Transmission, which, of course, it does not and then they want to sell them. I wanted one just because I thought the concept was nice. I very rarely ever drive mine in the 'auto-shift' and when I do it's just "for the heck of it". As far as the abundance of convertibles, I really don't have a theory on that.....
I purchased an E46, 2006, with SMG transmission. Vehicle only had 2K miles on it when I purchased, I got a great deal, and it has 26K now. I'd like to have the new M3 but I love, not in a material sense, the way the vehicle continues to drive better as I put more miles on it. If I can find a 2006, E46 with SMG and Competition Pkg, Navi, and Satellite (pre-wired) with less than 20K miles, regardless of color I will purchase it and I feel I would be content. I would add the Stage 2 and change the wheels to Volks. If by any chance you hear or know of anyone that has one for sell, let me know. Thanks for listening.
I recently purchased a 2005, E46M3 coupe competition with 2000 miles on it for a steal. Couldn't believe it, but it checked out well and the dealership was super cool. I briefly thought about the V8, but couldn't pass up this combo, which I've always drooled after. It is an SMG, which is fine, since my wife can drive it sometimes, if she really has to (but she seems to avoid it). I just got a ticket for no front plate, though, which is a bummer, since I really don't want to drill holes in the front...at $50 per ticket, though, that could really add up. What to do...what to do....
I'm glad to see so many M3s for sale in Roundel. This would be the first place I would look if I was in the market. I think CCA members are a special group and I am more likely to find a good used vehicle here, with a better "history", than at other sites (Cars.com, Autotrader, local newspaper, etc.) I'm convinced used (but still under factory warranty) is the way to go. I got my 2006 M3 earlier this year when it was three years old with 35K miles. New, out-the-door price, with tax was $61,000. My price with no tax (Arizona) was $35,500 cash. Why would anyone buy new? Let someone else take the depreciation hit and, with patience, you can find a nice ride that is still under factory warranty. Think of all the extra $$ you'll have for mods, upgrades and repairs when the vehicle is off warranty.
Interesting comments all. I agree with whoever mentioned the SMG theory, that those who bought it expecting an "automatic tranny" end up discouraged.... which is great for those of us who can deal with SMG. I own an 02 rag top with less than 50K miles, but am in the market for a E46 coupe with low miles and a color I can live with. Terrific car for the money at this point... absolutely terrrific.
Basically we are more anal than the average owner when it comes to vehicle care. However always request maintenance records no matter who you purchase from.
Agree - we are more anal. Especially with record keeping. I like to buy cars from these people. And if it is still under warranty, the dealership is, most likely, the sole maintenance provider. When we can work through the "head game" of purchasing a used vehicle, we can save big $$ and enjoy a great vehicle for what an average new vehicle costs. Remember - only a few years ago that used vehicle was a "state-of-the-art-gotta-have-it-now-it's-all-I-can-think-about" obsession.
Sure do. Also when the E46 M3 first hit the market you had people with more money than sense pay thousands over sticker for own one.....which reminds me of an interesting story. Short version: guy I worked with ordered and paid about 10k over sticker to get the "new" retro Thunderbird when it first came out. He paid about 40k or so if memory serves. After he had it a month I asked him how he liked it. He said (with a straight face) it was "nice $26,000.00 car...." Later that same year Ford was trying to unload them WITH rebates. As our old buddy Forrest Gump said "Stupid is as stupid does..."
Short version: guy I worked with ordered and paid about 10k over sticker to get the "new" retro Thunderbird when it first came out. He paid about 40k or so if memory serves. After he had it a month I asked him how he liked it. He said (with a straight face) it was "nice $26,000.00 car...." Classic! If I had 40K cash I don't think I would be pouring it into a new Ford...
I always like looking and studying how the market is going for used E46 M3s since I will be seriously looking at getting one in a couple months. But, compared to the enthusiasts selling theirs on the forums(e46fanatics.com, m3forum.net, etc) the Roundel prices seem incredibly high for what they are selling.
Very few of these cars sell for their asking prices, and it's been that way for many years...long as I can recall. In distant years past, you could really depend on a good amount of club members to have an outstanding example of a car; however, in the past 10-15 years it has become much easier to keep a car in outstanding condition and a lot more people are inclined to do so it seems. It seems that some Roundel "ads" have become a place where you put in a crazy offer price and hope a crazy buyer shows up to meet it. Few do.
I've been saying this for a long time. Pricing in the Roundel classifieds is usually at least $2-3k over what the real asking price should be. So usually you'd expect to pay $3-5k less than what is listed in Roundel. And yes, the cars listed there have probably been maintained well but they are also driven harder than the average driver. As far as why there are so many for sale everywhere, I'd say the economy is mostly to blame. Plus the people who purchased the car without having any idea about how much it costs to maintain, but you'll always have those.
Interesting posts. So, question, does a used M3 consume more in maintenance than a "regular" E46? Since my car has been out of warranty for 2 years, I've spent $2,549.87 in maintenance (all done myself). - Major Brake Service, front and rear, pads and rotors - Major Cooling Service, expansion tank, hoses, thermostat, water pump - Belts - 5 oil changes - Four new tires - Spark plugs - Fuel filter - Valve Cover Gasket - MT and Diff Fluid Change What would I be looking at for an equivalent period of time for an M3?
