Requesting a sense check from Motors, please!
A chap I follow on Twitter is selling his facelift E46 M3, manual, silver, 96k miles, in need of some cosmetic work but mechanically sound.
What are those points roughly going to cost to sort?
A lot. Front wings are £620 delivered, plus painting. If it needs a large service (i know he said it's had an inspection II recently, but many essential things often get forgotten, some VANOS work etc then you'll be another couple of thousand down.
Has the bootfloor had work done? If it hasn't, that's another £1000.
What price should this M3 be pitched at?
Despite all of the above, if you can get it for £5k I think you'll be doing fine. Most £5k examples are on fire, so I think you'll get your money back easily if you jack it in. Buy it expecting that there will be rust in places you can't see and which the seller probably won't even know of. Give it a good look over and test drive, and if you know someone who has/does own one, take them along. It really depends on what history it's got also, and you're skill with a spanner.
For the average person, the time to own an E46 M3 has gone. They have too many issues to worry about to own one hassle free.
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