Best Value Motoring

This is a seminal moment for me. You see, my interest in cars started the day I saw the original E30 M3, one of the most successful cars both on the track and on the road. It was a hand-built coupe that has the heart of a supercar and handling so sweet that in some ways all M3s that came after it were in many ways incomparable. The following generation E36 saw the engine jump to an inline six and now the E46 has the final iteration of the high revving power plant. So for me to write about the E46 M3 is a very special moment, I can’t count the number of times I’ve watched Tiff Needell drive the M3 in the video below.

The M3 has always been the halo car for BMW, the essence of what BMW has always been about, the ultimate driving machine. High specific output from a relatively small capacity engine, responsive naturally aspirated engines as happy at the redline and refined and tractable enough to be driven in the city. Rear wheel drive handling with a tricked out M differential at the rear that makes mere mortals look superhuman. In many ways, the M3 is all things to all men. It is reliable and comfortable enough to be driven daily, but also raw enough to be the trackday star. Even considering the premium you had to pay over the top of the line 330i Sport, it was no wonder indeed that the E46 M3 sold in the numbers it did. This makes the E46 M3 such a fantastic used buy today.

The steering does not have the ultimate feel of a Porsche or even the E30 M3, but it is still very accurate. Power is naturally abundant and the M3 has reached mini GT levels of performance, capable of keeping up with Nine Elevens and seeing off contemporary pretenders from AMG and Audi RSes round the bends. You feel hard-wired to the car, quickly building up confidence as you push yourself and the M3 to the limit. Grip is prodigious but such is the awesome power of the engine that smokey slides are but a prod of the accelerator away. This car was born to be driven sideways and you’ll be steering by throttle soon enough. If I had to pick something that stands out, it’d have to be the throttle response. The way you’re able to mete out just the right amount of power to the rear wheels cements the various parts to make this truly the ultimate driving machine.

For under $60,000, you can get yourself into an M3 with less than 100,000 kms. What you get is that fantastic 343 bhp engine, a practical 5 seater with good luggage space. The interior should still be very fresh and will not show obvious signs of wear. They are also young enough to be well taken care of by their first or second owners unlike the aging E36. They are in a sweet spot, depreciated enough to take the sting out of owning a supercar, but still young enough to be able to find a well serviced example. With so many on the market, walk away from any that do not have a full service record. The high revving engine is durable, but only if servicing has been done religiously. The M3 is extremely well-built and you should not find tattered rattling interiors. Buy the best you can afford and when you do take the plunge, you will be rewarded with a machine that will keep you smiling as you congratulate yourself on probably the best buy in your automotive life. This is definitely one of those must own before you die cars.