m3 year 2002 - any thoughts?

[MysticLlama]

Originally Posted by Reg

I'm looking into insurance now. That may halt me in my tracks.

My Insurance isn't too bad, It's $85ish I think with it set up as an unlimited mileage driver, and would probably be less if I set it up as a weekend / 5k sorta of thing.

And another couple of things on maintenance. At least around here, the dealer charges WAY too much money. The trailing arm bushings would have been $850, and they sent out a thing recently that said they've lowered oil changes from $250 to $225, but that *excludes* M3s since they take special oil...

The TWS Motorsport 10-60, which is currently the only approved oil, goes for about $12-14/qt, 6 needed put you at $70-80, plus say $40 for labor at an indy shop if you don't want to mess with it and you're still less than half the cost of the dealer.

[Reg]

that's it folks. My rate came back at at ~$125 month for full coverage or - $40 for no collision. I'd run the car for 6-8 mos only per year so it is not too crazy. Now, how do I justify this to the Mrs.

[porsche4life]

Let her drive it? That's how we sold my mom on an M3. She drives it like I do.

[Reg]

Not sure how she'd get along with learning a stick with 333 horses under the foot. It may well frighten her. I'll let you all know what happens. May go test drive it in the next few days.

[speeder]

I wouldn't wait long. A car can be sitting on the lot for a month and then as soon as you decide you want it, it vanishes.

Happened to me several times.

[petevb]

Originally Posted by Reg

I am looking at a 2002 bmw m3 as a second sports car

Anyone here had/have one? Are the cars problematic? 333HP out of a 6cyl non turbo seems like alot. I'd maybe put 5-10km a year if I am lucky and not drive in winter.

I had one for a while in Germany. The motor has a reputation of being problematic, and mine did need cams and lifters replaced (under warranty). The early years were a bit worse- do a little research.

I liked the car, but was a bit underwhelmed- good car, but maybe a bit overpriced for what you got at the time. Depends what you're coming from of course, but it felt a little low on torque and yet didn't put power down well at all- strange combination. In any case it's still on a short list of cars, but I wouldn't get another...

[Eric Coffey]

FYI: Here's an `05 in carbon black with cinnamon interior (great combo) in Toronto. Might be willing to negotiate a bit:

PERFECT CONDITION 2005 BMW M3

[Eric Coffey]

An `05 Competion-Package in MN that might be worth keeping an eye on:

BMW : M3 - eBay (item 110614253239 end time Nov-27-10 11:10:59 PST)

[edgemar]

Originally Posted by Eric Coffey

An `05 Competion-Package in MN that might be worth keeping an eye on:

BMW : M3 - eBay (item 110614253239 end time Nov-27-10 11:10:59 PST)

that comp. M3 is mucho awesome!!! The best of the E46s

[speeder]

What's the story with SMG transmissions? Are they slush-boxes? Do they have any common/serious issues?

[Schumi]

the SMG's are single-clutch manual six speeds with hydraulic actuators working the forks and a computer controlling the whole shebang. Literally a normal manual 6 speed with electronics working all the fun bits. Not the same as a normal BMW steptronic or old Porsche tiptronic, which is a plentary hydraulic torque converter-driven automatic that has user-selectable valves (gears), nor is it the same as a Porsche dual-clutch (PDK), which is far far quicker shifting.


Not heard of any problems with the SMG. I'm sure some like it, but really I don't see the purpose. I do not think it can shift faster than a normal person shifting the same 6 speed. It's a bit more efficient than a slushbox automatic, I guess, for those who don't want the third pedal.

[gprsh924]

The pump for the hydraulic actuator goes out on some of the trans, but not too many. Other than that the SMG is pretty reliable. The driving experience is definitely more engaging than an auto, but I still prefer a manual.

Schumi, when you max out the shift intensity and do full throttle 1-2 and 2-3 changes it is lightning fast and violent. Its faster than I could do on my own. The automatic rev matching upon downshift (as long as you are on the gas) is also a nice feature to make you feel like a much better driver than you actually are.

[TechnoViking]

Here's mine. Bought it for $21.5K with about 50K miles on it. A lot of car for the money, IMO.

The nice thing about buying a newer Bimmer, where all of the warranty work including Inspection I, II, etc. is done at the dealer, is that all you need to do is take the VIN into your local dealer and they will print the entire service history for you, notes and all before you buy. I felt pretty good buying without a PPI that way.

[GG Allin]

Originally Posted by MysticLlama

Love mine, nothing unusual, biggest thing so far was rear trailing arm bushings at 80k or so; a little less than $600 w/alignment.

Trailing arm bushings are an easy DIY if you're into that. I've done an E36, same job.

[Reg]

I'm a little worried about the engine after reading more into them especially being it is a 2002 model year. I suppose taking the VIN into a dealer and seeing the records would let me know if it has had any updates recall work done.

[Reg]

So I drove the car today! Impressions of that is following initial observations of the condition:

The previous owner bought it new and while I am not dealing with him directly I am told it is a local car and all the service work was done at the dealership so any service advisorys were/would have been done. He traded it in on a 2010 M3 V8. The car has only 54000kms or 33000 miles . The clearcoat is peeling a little under the back side windows that flip out (vs roll down) and a little around the top of the rear bumper so I am not sure exactly if this is because it is almost 9 yrs old or if it had a shoddy touch up/fender bender. Trim around the interior door handle is spidercracking paint on plastic so I am a little surprised on a BMW but noted others in reviews commented about fit/finish cheapness. Seats are comfy and car has a understated look but also has a sort of meanish look about it too. It is almost black but has a blue look in the light. bits of chipped paint/rash on the 18" wheels.

The car has a clean car fax but have not seen it. It is my bro in law offering me this car and I trust he'll be straight up. He dropped the price by 3k to me and I do not want to haggle anymore with him. It is offered at $22,000 certified.

Driving was interesting. It has VSA or stability control but we'll talk about sport mode first, We drove the car for a few miles and then when the car was running in 4th gear around 3000 rpm we hit the sport mode and instantly the car sort of lit up like it had 2 more cylinders. Wow. It was very lively and I would have probably thought the car as a whole was faster had I not been driving it myself. I felt the power but it was sort of like riding a sport bike where you did not sense the speed so much. It has a very short first gear (or maybe it is just damned fast) and only one time I had a rough slip into 2nd gear. It was probably just me. When I turned the car around slowly it was almost lugging it it sort of was clunky in the rear end - almost like a pick-up truck with a sloppy U joint. Maybe that was what it is but it was not that noticable and when I went off and on rolling straight it was OK - Maybe it is just the way the driveline is? Car gripped the road well and seemed to handle very tight.

We turned off the VSA button and I went around a corner in 1st with a little gusto and she slid out faster than I thought. Tires are Mich. Sport Cups I think - but not the racetrack R compound or anything like that. I let off & caught it but was a little rough and herky jerky. Nothing a little getting used to would not cure. Clutch is strong as I lugged it in 4th gear with no slippage. Brakes were great.

I sort of feel guilty dropping this dough on a car that I do not need to have. I do work my butt off and am doing a sucessful job and running a small company for 6 years now with growth each year. I am drawing the funds to purchase the car directly from the company as a dividend so no household loss for the family in a sense. My guys will also get a bonus and a 2nd raise in 6 months this Christmas allthough some may resent the boss driving in the lane with this toy.

So - I should decide tomorrrow on this so pour on the feedback. My bro in law has others who want this car. Ya ya I know but remember he is my bro in law and is doing fine without selling me this car.

I am not sure I'd find a similar aged/condition 911 for this money and this car is probably more practical than one allthough I am never ruling out another Porsche.

Thanks for reading!

[MysticLlama]

Feedback:

Clear coat issue... kinda weird, haven't seen that one before, and mine is parked outside (not that Seattle is real sunny)

Spidercracking on the interior door handle... every one I've seen is like that, usually seems to be worse on the passenger side, which is odd, but normal.

18s are better than 19s if stock, only the 19s on the competition coupe are light enough to not be a big effect. Supposedly going just from stock 19s to stock 18s and losing the runflats gains big time in the 1/4, and even some 0-60.

Sport mode basically maps the pedal 1:1 with the throttle. With sport mode off, the first 30% of the pedal gives you 10% throttle, next 20 gives another 10, etc. It basically blunts the first half of the throw to make it easier to drive in traffic. With sport on, it touchier and feels faster. From a light if you mash it either way, it uses all the power, it's not a different engine map or anything.

The rear ends are clunky, it's a known thing, takes a while to get used to. An aftermarket diff that isn't electronic makes that go away I've heard.

[porsche4life]

Step back to an E36? Bettter interior, less gizmos, half the money....

[Reg]

....or spend a little more $ for a 2011 Mustang. The Mrs. does not like them but warranty and cheaper to maintain. The 2002 Bimmer will prob hold its value better than selling the stang after 5 yrs if I look after it.

Thanks

[porsche4life]

You didn't say what I think you just did.... Go sit in the corner....



I see the E46s getting down around 10k and bottoming out much like the E36s have. Either one are tons of car for the money.