M3 feasibility

jamoor · 24 Aug 2007 at 21:26

I have been given the opportunity to purchase a mint 2003 M3, it has had one owner from new (very wealthy one at that) pretty much all options ticked (TV, heated seats,better sound system etc) the owner is one of my friends dads. mileage is 30 odd k.

Literally no expense spared on it.

The thing that put me off slightly however is,
it has been used on track days 4-5 times a year, the only other thing it's done is drive 45mins a couple of times each week to his work.

Should this pose any problems?

Also what are the realistic running costs of one of these, how much are services at dealers?
Luckily it's a manual gearbox.

Thanks!

NickXX · 24 Aug 2007 at 21:43

Track use won't be to much of a problem so long as it's serviced on time. Although with that many times on the track, check that it's not had any accident damage.

Check you can add it to your fleet policy without a big premium increase? My insurer wants well over double what I'd normally be paying next year to insure an M3 over a remapped 330d.

[TW]Fox · 24 Aug 2007 at 21:47

Is your Dad buying this? If not 18 with an M3?

These things are properly expensive to run.

jamoor · 24 Aug 2007 at 21:47

NickXX said:
Track use won't be to much of a problem so long as it's serviced on time. Although with that many times on the track, check that it's not had any accident damage.

Check you can add it to your fleet policy without a big premium increase? My insurer wants well over double what I'd normally be paying next year to insure an M3 over a remapped 330d.

Should be ok, there will just be a huge excess to pay, £1k, best way to avoid that is not to Crash!

It hasn't had any accident damage, according to the owner, and I trust him 100%, he has no reason to lie, as he can just p/x it against the new model.

I am interested in realistic running costs, fuel and servicing really.

Tyres are £400 for rears :eek:

jamoor · 24 Aug 2007 at 21:48

[TW]Fox said:
Is your Dad buying this? If not 18 with an M3?

These things are properly expensive to run.

I know, they are expensive

, hence why I am after realistic running costs

I am 20 btw.

NathanE · 24 Aug 2007 at 21:49

Fox is jealous

Housey · 24 Aug 2007 at 21:51

General advice, but there are plenty of M3's about right now, if you have any doubts you will find another that has a greater comfort factor.

As Nick said, check the service book, ensure it had the running in service at on or around 1200 miles and any recall work done, and it should be fine. My first E46 M3 was over 120,000 miles when I last checked, and that was an 02 model with loads of track use, so they will do miles. Mind you, it could be a Trigger Broom Handle situation

Running costs really depends on how you plan to use it, and if you want a warranty. Its next service will be a big one I suspect, and if nothing is wrong with it thats £900 alone. Tyres are about £280 each at the rear and £210 at the front on 19's, but the warranty is about £1200 per anum, and that also then attracts a £250 excess on ALL claims.

It may be a £20K to buy, its always going to be a £45K sports saloon to run.

NickXX · 24 Aug 2007 at 21:52

[TW]Fox said:
Is your Dad buying this? If not 18 with an M3?

These things are properly expensive to run.

Jeeeallllouuuussssss.

jamoor · 24 Aug 2007 at 21:57

housemaster said:
General advice, but there are plenty of M3's about right now, if you have any doubts you will find another that has a greater comfort factor.

As Nick said, check the service book, ensure it had the running in service at on or around 1200 miles and any recall work done, and it should be fine. My first E46 M3 was over 120,000 miles when I last checked, and that was an 02 model with loads of track use, so they will do miles. Mind you, it could be a Trigger Broom Handle situation

Running costs really depends on how you plan to use it, and if you want a warranty. Its next service will be a big one I suspect, and if nothing is wrong with it thats £900 alone. Tyres are about £280 each at the rear and £210 at the front on 19's, but the warranty is about £1200 per anum, and that also then attracts a £250 excess on ALL claims.

It may be a £20K to buy, its always going to be a £45K sports saloon to run.

Technically it;s a sports coupe

I think the rear tyres are more like 190-200 and less for the fronts, (19" model)

I will ring around dealers and find out a price on an inspection 2.
Is it a good idea to run one of these warrantyless?

I won't fell comfortable buying a car like this off a stranger, this chap is one of my most trusted friends and has no reason to lie to me whatsoever.

[TW]Fox · 24 Aug 2007 at 21:59

I call BS. No way you are buying and running an M3 at your age unless its funded in the same way your 530d is

jamoor · 24 Aug 2007 at 22:00

[TW]Fox said:
I call BS. No way you are buying and running an M3 at your age unless its funded in the same way your 530d is

LOL
I work now, in our company, so technically i am funding it myself

NickXX · 24 Aug 2007 at 22:03

M3 is seriously pricey though. I'm half tempted to buy one early next year, note that servicing cost, insurance costs and fuel costs are a hell of a lot more than the costs of running an x30d. I'm considering a 335+remap instead.

Housey · 24 Aug 2007 at 22:04

jamoor said:
I think the rear tyres are more like 190-200 and less for the fronts, (19" model)

I have no idea now, but the 10 or so sets I bought were between £250 and £350 each when I bought them, assuming Pilot Sports and not the awful Conti rubbish. When I had mine there were only 2 tyres manufacturers that made the right sizes for a 19" equipped M3, Mich and Conti.

NathanE · 24 Aug 2007 at 22:06

I think you should wait. 20 is waaaaay to young to be driving around in one of the most powerful road cars there is. Just think how the pub conversation will go... "what you drive then?" "an M3." " :eek:

no ******* way?! you're only 20! do you still live at home or something?! how do you insure it?!" Nothing you say or do will change their first impression that you're a daddies boy.

jamoor · 24 Aug 2007 at 22:08

housemaster said:
I have no idea now, but the 10 or so sets I bought were between £250 and £350 each when I bought them, assuming Pilot Sports and not the awful Conti rubbish. When I had mine there were only 2 tyres manufacturers that made the right sizes for a 19" equipped M3, Mich and Conti.

blackcircles are 190 and 200 respectively
costco i assume will be marginallyu cheaper,maybe 5%-10% less?

jamoor · 24 Aug 2007 at 22:09

NathanE said:
I think you should wait. 20 is waaaaay to young to be driving around in one of the most powerful road cars there is. Just think how the pub conversation will go... "what you drive then?" "an M3." " no ******* way?! you're only 20! do you still live at home or something?! how do you insure it?!" Nothing you say or do will change their first impression that you're a daddies boy.

Just turn up in our corolla then lol

Anyway, I don't really let other peoples impressions of me decide on which car I should drive.

NickXX · 24 Aug 2007 at 22:16

jamoor said:
blackcircles are 190 and 200 respectively
costco i assume will be marginallyu cheaper,maybe 5%-10% less?

- I assume that's the 19s? PS2 for the 330d sport around around 180 each for the rears.

Dr House · 24 Aug 2007 at 22:45

The only thing that put me of the M3 is the fact that the new one is out now so prices will fall faster then ever, I just could not stomach losing 200+ pounds per month. I dont mind paying 300+ per month on running costs but such a huge lost when selling made me think twice.

Assuming that the car in question is around is around 25k, you could get a nice new shape 330 or even 335i for that (I have no idea of uk prices but you can here)

Dangerous Dave · 24 Aug 2007 at 22:48

There not that expensive to insure considering, I work with a 22 year old who bought a M3 almost a year ago. He had never driven a rear wheel drive car for any length of time 6 days of ownership and a little rain latter and it was written off when he lost it coming out of a roundabout. His insurance was just over 2k, ironically the payout they offered was 1k more than he paid for the car so he was pretty happy in the end and is now looking at Evos or motorbikes.

The prices are falling quick another work mate with 02 plate M3 fully loaded only got offered 18k as a trade in against a Evo. Considering he paid 35k for it about 2 years before that is a serious hit.

Scania · 24 Aug 2007 at 22:49

Paras said:
The only thing that put me of the M3 is the fact that the new one is out now so prices will fall faster then ever, I just could not stomach losing 200+ pounds per month. I dont mind paying 300+ per month on running costs but such a huge lost when selling made me think twice.

If he's 20 and going to run an e46 M3, £200 per mth depreciation is the least of his financial issues I'd have thought.

Company insurance I suppose?

As for the OP's question, not a problem at all as long as the rich guy is a rich guy who actually likes to spend his cash (which some don't) as long as your sure he would spend the money required to use it as a 5 times a year track car (fettling things such as bushes, brakes, suspension, tyres etc etc etc which will all get a hammering) then you have nothing to worry about imo.

Age 20, M3? enjoy it mate! (Assuming you live long enough!) - Hell I know I would'nt!

Years back, I had an 18 year old mate who's first car was a 350+ bhp Sierra Sapphire Cosworth, he still has it to this day (his daddy was / is the rich man!)

I add myself to the list of jealous posters.