$10,000 Convertible E46 M3- Is it Worth it?
Buying a cheaper M3 might sound like a good idea, but there are some serious caveats to take into account before draining your bank account.
Like most of us BMW enthusiasts out there, at some point in our lives, we have wanted an E46 M3. There is just so much to love about this car. It’s one of the best vehicles ever made by BMW. Some say it is one of the best sports cars ever made, period. So, being a fan of BMWs, it is understandable that one would want to experience this for themselves. However, does that mean it is wise to not consider M3 ownership without some caveats? Definitely not.
Don’t let anybody tell you that M-car ownership is like non-M ownership. It simply isn’t. The price of owning an M is substantially more. Why? Well, there is a lot to consider. However, it is smart to say that the majority of this comes from the engines. These aren’t meant to be fuel-efficient commuting engines. These engines usually are developed for racing and then slightly dulled to fit road-use. However, the maintenance of these engines is not to be ignored. Could you imagine if you had to swap the rod bearings of your 325i every two years? Nobody would buy them. However, with an S54, this could easily be maintenance you have to do, shelling out thousands of dollars each time. Don’t believe us? Let’s check out this new video brought to us by Throttle House and see what it takes to own a cheap E46 M3.
The owner of the car seen in this video is Thomas Holland, the founder of Throttle House. He bought the car for $10,000 USD approximately from the good folks over at Speed Academy who had been using it as a drift car. Holland knew he was getting a deal for the car because the team at Speed Academy put a lot of work into getting it fixed. This included doing the rod bearings, the subframe reinforcement, and a full-suspension job. However, this was far from the end of the story for this M3.
Soon after purchasing the car, the crankcase pressure regulator valve blew, causing a massive oil leak through the dipstick. The soft top’s electronics stopped working, the radio died and was unusable, the car needed serious rust repair, and the windshield washer bottle leaked. To top this off, the clutch also died.
Does this mean that Holland loves this car any less as a result? No. However, if you think that buying a cheap E46 M3 will come without some hurdles, you are in for a wild ride.
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