Looking for the right E36 M3. East half of USA.

After two years with my '97 328is, I'm ready to move on to something with a bit more poke as my daily driver. The 328 is great and has been dead reliable, but I added up everything I'd want to upgrade on it and figured it'd be easier to just but a damn M3.

I'm in Michigan. I want an E36 M3 for $8K or so. Up to $10K for a real cream puff. Sedans (the coupe is a pain with the kids). Manual transmissions. Proper maintenance (ie, that's $8K with a relatively fresh cooling system, suspension bushings and shocks). No rust.

With CL and the other online ads, it's damn near impossible to find ones that are in the hands of knowledgable owners. Bimmerforums is full of stuff that's either waaaaaay too modified or has spent the last two years in the hands of a 16 year old and is about $5000 behind on maintenance.

Any good leads? I'm happy to drive 5 hours somewhere to pick it up, or fly to the east coast, or ship from the southeast.

This is going to be my ride on my days to take the kids to school, through the winter and maybe an occasional track day car. Suspension mods are good. I'd also do an E46 330i if it were already suitably upgraded...

might be a bit pricier, but enthusiastauto.com has some nice ones usually.

Damn, that's a nice inventory. Problem is, if I could justify a >$12K E36 M3, I'd just suck it up and buy an E46 M3 or 330 ZHP and enjoy an interior that doesn't fall apart every time you turn your back. :)

ohiobimmers.com is another place to watch, they pop up in the classifieds occasionally.

If you find something in the Columbus OH area I recommend Hatem Automotive or Best Motor Werks for a PPI.

From your post it seems your money would be best spent on a 330 ZHP. They can be found in great (low mileage) shape for around $12K, have nicer interiors, and are generally great machines. They aren't nearly as visceral as an M3, but still a very nice car.

It's going to be tough to find a NICE E36 M3 for anywhere near your $8K price. There are cars out there for sub $10K, but nearly all of them need some sort of work to make them perfect. True "creampuff" cars owned by knowledgeable owners go for $12-- $15K. (with all maintenance up to spec) Even then......these are older cars now, they will need occasional work.

That said, my 97 has nearly 160K miles, and I've just returned from a 3,600 mile road trip up to WI and back. (including over 100 miles at-speed at Road America) It was fun, fast, incredibly comfortable, and got 26mph. (well, not on track!) I've owned the car for 8 years and 70K miles, and I love it more now than I ever have.

I wouldn't sell mine for anywhere near $8K, ----- not even double that.....but I'm weird and I get attached to machinery that treats me well. Nice ones are out there......but finding a top market car for bottom of the market price isn't going to be easy.

Thanks, I'll keep an eye on that one.

For that $ I agree looking for a well optioned e46 330i either zhp or as close as you can find. Much better daily.

This is an Auto, otherwise exactly what your looking for.

I was seriously considering this before my wife talked some sense into me. He might be willing to do your price. He said it had two barely noticeable rust spots. If I were to daily drive an M3 it will be set up pretty much like that.

http://minneapolis.craigslist.org/hnp/cto/3942755251.html

I bought an e36 m3 in 2009 and sold it in 2012. I keep my eye on the market as I am always thinking of buying another one. I firmly believe that we have passed the bottoming out of the market for the good cars. The crappy ones will continue to depreciate, but there is no way the OP is finding the car he wants for $8k. The car he described is at least an $11k car as long as it has less than 120,000 miles on it. It's simple supply and demand...there just aren't that many good cars left. So the good ones command a premium.

I'll echo the comments above regarding pricing. I've had 2 of them before, and currently DD a 330 ZHP. I really want an e36 M3 to use as a track car but prices have really rebounded of late. I was thinking I could find one for ~$6k-$8k that didn't need much on the deferred maintenance front. No such luck. $10k seems to be the floor these days for even mildly well kept cars.

For a street car, I'd keep the 328is and put a 3.64 LSD in it. It will feel bucket loads faster than a stock M3 and it's the devil you know.

If that one from MN is still available, I'm all over it. He hasn't responded to email yet, though, and the ad is a couple weeks old. I've got another good lead on one for $8K that has at least had its cooling system, bushings and shocks done within the last 30K and the owner claims it's free of issues. We'll see how the PPI checks out.

I drive the car about 2000-3000 miles per year. Two days a week I walk to work. Almost never more than 30 miles from home. I really don't need the reliability and plushness of an E46, and with that many miles per year, I don't mind a car with >150K on it. It seems like I'd have no trouble finding what I want in a coupe. Just not as many sedans out there...

And yeah, dropping a LSD rear end w/ shorter gears in is the next thing I'd do to the 328, but since I'm looking for a 4 door car anyway...

I sold my 1999 coupe with 80k and all records for 13k. I think it was listed for sale for a total of 36 hours. Nice ones sell fast....

Update! I grabbed the sedan in Minnesota. I'll have it exactly how I want it before I'm $10K in, including the flight to Minneapolis and gas on the way back. Better than I was expecting.

Awesome, awesome upgrade over the 328is. Funny how a car that's been sharpened 20% in every way is 100% better overall. The sound of that engine...

Might be hard sticking to my Miata as my sole track toy.

So very happy for you! Not only that you got it, but also because you removed the temptation far far away. I get dibs if you ever decide to sell it:) Again, congrats.

Looks like a great choice!

VERRY Verry nice

Paul B

Wow, glad the MN worked out. You'll be in my neck of the woods when you come get it, if you need somethin.

And to thing I came in here thinking he was looking for some E36 M3 on the east coast, not an actual car.

Sweet!