The Path to an E46 M3
Buying an E46 in this market isn't as easy as it looks
After looking for a solid spec'd E46 M3 for years, my friend was finally able to nab one in market and within a reasonable price. He chats about the search for his perfect e46 m3 in his newest article.
Even in a down car market the illusive E46 M3 was a tough one to track down. This is my journey to find the perfect slicktop E46 example and the struggles along the way.
For those tracking the 2001 – 2006 M3s, known by their chassis code E46, you would know that they have bottomed out on the depreciation curve and had recently begun to increase again. As we saw in my previous article discussing the E49 vs. the E39 - prices have gotten a bit out of whack depending on the state of the vehicle.
Low miles examples with manual gearboxes used to be easy to find in the ~$10k's to ~$20k's, but now go for upwards of $30K and competition package examples can go for as much as $70K.
Well, having my friend back in town made it easier for us to stay on the lookout and he eventually picked one up from out East of Houston w/ 80k miles for $14k. It's in great shape overall but quickly guzzling budget with mods and upgrades - as they often do.
At the time of writing, the wheels have already been updated, and the exhaust and coilovers are sitting in the closet... just itching to get installed.