Why not buy an '01 M3?

JohnJS

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#1
I'll begin by saying I'm completely new to BMWs, save for riding in them. Please be gentle. :)

I'm in the market for car in the $25-$30k range. Really, I'm looking for something that can perform, handle, be safe, and won't fall apart. Ideally 300+ HP N/A, 2-door design, not 4000 lbs, and not horribly ugly.

That rules out most American cars, save one: the '06 Mustang GT.

A new GT and a used BMW M3 from 2001 are very similar in price.

I've never bought a used car before, and certainly not a BMW. Almost all of them from 2001 have between 60k and 90k miles. I'm afraid if I go this route, I'll choose one that's been thrashed by the previous owner.

But it is the better car, at times by a little, and often by a lot.

That in mind..

1. What are some common problems with this models?
2. What should I look for on a test drive?
3. Questions to ask previous owner/seller?

Much thanks for your help,

John
 

epj3

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#2
Well, I wouldn't really worry about the car being beat on - most E46 M3's are going to be 1 owner cars with full service history. As long as you take it to a mechanic (one that specializes in european cars, NOT A DEALERSHIP) and they check it out okay, then go for it! The mustang is fine but in 10 years, the e46 M3 will STILL be worth more and much classier.
 

JohnJS

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#3
Would you consider it a sign of trouble if the car had multiple owners?

What's wrong with dealerships?

Also, are there resources that would list ownership experiences and answers to the maintenance-type questions I asked above?

Thanks!
 

epj3

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#6
JohnJS said:
Would you consider it a sign of trouble if the car had multiple owners?

What's wrong with dealerships?

Also, are there resources that would list ownership experiences and answers to the maintenance-type questions I asked above?

Thanks!
Nothing wrong at all with multiple owners if the car was maintained... I was 4th owner on my e30, 3'd on my e34, and third owner on my current M3 - which is in fantastic condition by the way...

Dealerships are crap for used cars...why? Their labor prices are VERY over priced, and they really don't give a shit about your car... if they screw up something on your car, they lose one customer - they still have all those warranty cars to make money on repairs.... Go to an independent shop - which most are typically just as, if not more, qualified to work on your car. Their quality of work determines wether they keep or lose a customer, and they definitely want to keep their customers.
 

William330

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#7
wood_e said:
I drove my buddy's 98 M3 with 122k on the clock and that thing HAULED ASS. Sadly he couldn't afford it and got a PoNtIaC... instead :(
He couldn't afford a 1998 car with 120,000 miles on it?

According to kbb.com the car should cost $14,000.
 


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