It’s a pure 50/50 split for the worst car ever. Today, it’s a question from a reader about getting the best M3 for the money, regardless of the generation. Let’s see if I can help.
Question
Hey Mike – looking to get into my first M3, but the market is flooded with examples (Cars & Bids has listed almost 800).
I don’t think I want an E30, which seems like a lot of work and expense, but what about the other generations? I don’t have a specific budget in mind, just want a fair deal. Should I go newer?
– Tom
Answer
We looooveee to compare M3 generations and their respective performance. V8! E46! But the truth is the debate will never be settled – it’s a personal preference.
But what we can do is check out the value, as Tom suggests. Using my favorite site, Classic.com, let’s check in on all the generations. No fancy editions here either, just straight up M3s neat.
The M4? Sorry, not today. Without further ado…
Sixth place – The E30 M3
Tom’s right to dismiss this car. It’s the slowest and the oldest for the most money.
If you wanted one in 2020, you could pay a somewhat reasonable $45k for a decent example – still too much. Now, the average is $86k. Even this hilariously dilapidated example is nearly $20 grand.
I’m too young to remember much about this car, so nostalgia isn’t a factor. There’s also no four-door version, and it’s the only four-cylinder M3 made – probably the worst M engine (it’s a buzz bomb).
Here’s a perfectly normal example for $166,000 – more than a new M4 CS. If you have the money to spend and you’ve always wanted this car, yay for you. But it’s not an automotive experience I’d pay six figures for.
Fifth place – The E46 M3
Gasp! He wouldn’t! Yes I would.
This is a great car. You would love to own one. But it is 20 years old at this point, and for an average price of $31,000 we can do better.
Depending on options, this M3 can get silly. Here’s a Leguna Seca Blue example that sold for $84k. I love BMW blues. I do not love them that much.
We can also pay attention to just how many examples are available at any given moment, which is a lot, always. This is by no means a rare car, so waiting for the right moment is key. And there are other M3s that do everything better, if not with as much panache.
Fourth place – The G80 M3
This car might be a good buy one day, but for a variety of factors, that day is not today.
First, despite it still being in production, used values remain high – an average of $76,000. You could buy a new one for that price. BMW doesn’t release production numbers but it’s safe to assume this will be the best-selling M3 to date.
Next, consider the performance – excellent no doubt, but some other generations are nearly as fast for half the price. And no, sticks aren’t worth more either. For now, my advice is to buy new, or buy something else.
Third Place – The E36 M3
This M3 sits in the middle because…it sits in the middle.
Yes, you get a neutered engine and a somewhat cheap interior, but its a better (and more comfy) car than the E30. The average price is around $25,000, and there are always a ton available. It’s versatile too – light enough to make it into a track car, or simply use as a daily.
There’s also not a lot of variation in price. Even the cleanest and rarest of examples seem to stay under $50k. Consider a cheaper one and fix it up yourself.
Second place – The E92 M3
This car is in an odd space. Like the E46, its price can depend heavily on options. Some decent examples cost as little as an E36. Others can fetch six figures.
But the average cost is $33,000, just two grand more than an E46. For that, you get a better engine, better dual-clutch transmission, and more useful daily driver. It’s always available, and offers better reliability than its predecessor. The S65 may underwhelm you, but you can always supercharge it for less than the cost of a new M3.
First place – The F80 M3
Aside from this being the best-looking M3, I believe it’s also the best value.
It’s performance is bested only by the G80. It’s comfy, can do track days, is very reliable, and the prices might surprise you.
The average example goes for $47,000, which means you can pick one up for the price of an E36 if you’re picky. Values are in the decline too, so it’ll become an even better value within the next few years. There’s also little variation – you can find a few in the $60s, but that’s usually too close in value to a new M3.
Start here Tom – the F80 currently represents the best M3 for the money. What do you think?
