Should I get a newer (F80/82) or bring back an E46 M3 to its good old days?

[rwDriveFanatic]

Hello reader,

Before I get into the question itself, few things that might be relevant. I am 22 year old and about to graduate college and get a big-boy job. I am pretty good with money so I might be one of those people who can afford a car they shouldn't afford because I make sacrifices in other hobbies or ways of living (such as living with my parents instead of moving out). I have a liking for BRIGHT COLOR, RWD, and MANUALS. Also a big BMW fan (I just like them).

When I was in my freshman year of college(2021), my family mechanic/friend had an E46 M3 TitaniumSilver SMG 130XXX miles(10k I paid) which I bought from him knowing he would help me with repairs and whatnot and he is a super cool friend. Being my first sports car and not knowing anything I realized very soon that the E46 M3 was going to be a money pit. Fast forward a couple of years I also got myself a Scion FR-S(learned manual) for daily after the E46 started throwing codes left and right and I knew the BIG 3 were coming up. I have been going back and forth about where to go from here. I like the F80 but I just can't get a 3rd car because I don't have space(2 cars is fine) and I also probably won't be able to afford maintenance on all 3 cars and insurance (F80, E46, FRS).

The E46 means a lot to me as it was my first sports car and the first BMW. I sometimes find myself just thinking about what I can make of it and I know it can be super cool if I can just dump some money into it. I don't like Silver but hey it's not the end of the world. The SMG would have to go($2000 conversion kit). The BIG 3 and other maintenance things that I need soon($6000+). Counting other semi-necessary things like suspension and wheels and tires and other bits I am assuming I would have to spend close to $12,000 to get it driving and looking somewhat the way I would like. I don't know much about engine rebuilds and how much it would cost to get the S54 to a point where I don't really worry about the engine and focus on maintenance. E46 M3 according to my bad calculations will at the end cost a total of 22 - 25k (not including paint/wrap and other make-it-cool goodies). Please correct me if I am wrong with any of the estimated maintenance math for the E46.

The reason that I want to keep the E46 is because I feel like the E46 M3 is such a good sports car and that I might miss this raw sports car feeling as they say. Every time I think about getting rid of it I just see how people praise it and can't convince myself(and remember that I have SMG I haven't experienced a MANUAL E46 M3). Sometimes I think that I am ahead of the curve and that it would be a mature decision to keep the TRUE SPORTS CAR and not just chase the new and the fast. If done right I know this car can be a dream to drive.

The reason I wouldn't want to keep the E46. I know it is going to take a lot of work and I don't have most of the skills or time so most of it would get done in a shop. It's going to be held down because of age and maintenance I will get less seat time than I would in a lower mileage F80 that could even be a daily(I don't want to daily it but that's not a bad thing in case FRS is down or in shop). Summarizing it, I am scared to put all this money into it and not get the seat time I want and deserve.

Going to the F80. I have liked this car for a long time now and recently started to realize it might be a more attainable thing than just a dream. I love this car's look, to me, this is what BMW is. I love everything about this car, those eyes, body lines, the sounds, and the performance. I don't want to tell you the amount of Instagram posts I have saved and the hours I spend driving the F82 in Forza Horizon(side note cool thing I also played NFSMW so I remember driving the E46 M3). The reason I want this car is I think obvious. The only reason I would not want to buy the F80 would be to keep the E46 M3. I just can't afford 2 BMWs. The total cost of the F80 would be around 45-50k for the spec(yas blue or austin yellow manual) that I want (I would keep it stock for a while because I just like how it comes from the factory). I also know that the crank hub is something. I won't be tuning the car for a very long time. I am more than happy with the stock performance.

F80 is a dream, it will cost more I think but I will get a lot of seat time(happy time).
E46 is a dream of many(I could see it being mine too), it will hopefully cost less, be a little more special, and "true BMW".

Please help me decide and I will consider every single opinion and argument. I have been dealing with this battle in my head for a very long time. I just want to put an end to it.
THANKS

[NickyC]

F80/82. Had basically nothing but ///M cars for 25 years, the F8x series is my favorite of all.

[itrocks4u]

I had the F82 CS in San Marino Blue. Absolutely loved it. Will give you the raw field.

[ShocknAwe]

Buy something you can afford, learn to wrench, and start working on your finances so you don't have to work forever.

Sounds like maybe that's the E46.

[tdott]

Normally I would say dump the e46 m3, save up and get another one later. You'd probably get back atleast what you paid if not more if you sold it.

But if it's your first car and you have sentimental value attached to it, then it's probably better to hang onto it.

If you can swing it, maybe sell the FRS for the F80 and slowly fix up the E46.

[pbonsalb]

Learn to DIY. You aren’t into the performance of the F80 M3, you have a modern 2nd car to daily drive. You can keep the near classic E46 M3 and drive Scion TC when you need to work on it. Down the road, replace the Scion with something more interesting.

A 20 year old car can be a pain to daily, but not if you have another car. The cost of maintenance and repairs seems to be the greater issue. I learned to DIY because of this long ago and now DIY pretty much everything.

On the flip side, if the E46 M3 is a basket case that really can’t be driven much, then buy a car you enjoy to drive. I would not drive a beater all the time — life is too short for that. I want to drive my fun car, or ideally have 2 or 3 fun cars. If this is your situation, buy the F80 M3 but don’t expect a 5 to 9 year old M3 to be trouble free and cheap to maintain.

The E46 M3 will get more attention from BMW fans than the F80 M3. I get more attention in my E36 M3 than I got in my E90 M3 or get in my F90 M5, but I am 2.5x your age and would rather daily drive one of those newer cars than the E36 M3. At 22, pick the older one and learn to DIY.

[mjj]

1. Graduate and get the job first.
2. Spend at least a year launching your career with complete focus.
3. Move out of parent’s house and learn how to sustain your life on your dime for at least a year.
4. make sure you can save at least 10% of take home pay to create a “rainy day fund”.
5. Once you have completed steps 1-4, conduct an analysis of your disposable income. Take all car expenses into account (purchase price, taxes, registration fees, maintenance, insurance for a 24-25 yr old male)
6. Guide your purchase based on how much you have available.
7. Revisit this entire list if you start dating….

[rwDriveFanatic]

Thank you all for putting in your 2 cents.

After reading the replies and reflecting one last time, I have decided that I will be keeping the E46 M3 and working on it slowly. I will utilize my friend's shop as much as my skills allow me. I will wait a year to figure out the living situation and depending on how that goes with the disposable income that is coming in, I will use the FRS to buy the F80 if possible.

[FrozenGT]

2020 F82 Comp HE with MP package. If you can find one. I highly recommend finding one under 25kmiles less then 3 owners. I would recommend looking at EAG website all there BMWs are super clean.

[pbonsalb]

EAG is premium dealer prices for premium cars. More for the rich than the young guy starting out. The OP should line up his funding when the time comes with pre approval for a loan or the cash saved up and shop patiently and carefully for a 1 owner or 2 owner at the most super well maintained enthusiast owned car — preferably owned by a middle aged or older person with plenty of money.