After Looking for A New M3 I Choose the E92 M3
After losing my beloved 2006 E46 M3 with the Competition Package last year, I was looking for a new BMW M3 for this year’s HPDE season. Besides driving around during the summer months as a daily driver, I like to drive my M3 on weekends & at motorsport events. I settled on this 2008 BMW E92 M3 in Melbourne Red with a 6-speed transmission. Glenn already did a review of the car and you can see it here.
The car has 66,000 miles and was from a private seller in NJ. This allowed me to see the car in person and when I bought the car to receive all the maintenance records from the previous owner ( the car was well taken care of in terms of maintenance). And was a major reason why I bought this particular car in the first place. But let’s get to the meat of the post and answer the question: why did I choose an E92 M3 when I was really looking to get another E46 M3?
E46 M3 Used Car Values has Appreciated
It’s not a secret that the E46 M3 was a beloved model. It has a huge fanbase and now with time on its side, the E46 M3 is finally appreciating in value. We’re talking specifically about well-maintained models with low miles and outstanding records. But like all E46 M3 sellers, they want the most bang for the buck so even E46 M3 cars with many miles, bad options, unpopular colors and bad maintenance records are coming up with higher price tags.
It’s not an exaggeration to say I’ve seen some really crappy E46 M3s over the past year with owners who think they are worth more because of the name/model. And like most things in a capitalistic market, if it’s priced right the car will sell. I personally wanted a 2003.5 and later model under 100,000 miles, with a 6-speed, coupe and with good maintenance records. Any cars fitting that bill was getting close to $30,000.00 in asking price. That’s when the E92 M3 really came on my radar.
E92 M3’s are Going Down in Price
The E92 M3 came to the US in 2008. Those early models are now hitting the 20k mark. Even later year models with low miles are asking mid 30’s. I actually had a history with the E92 M3, having a 2008 model in black/black and with the M-DCT transmission. I love the car and that engine but was bored of the DCT, hence why I eventually sold it. Now with the pricing of some E92 M3’s coming close to the asking of E46 M3 cars, I had to take a look.
I found a local car earlier this year in NJ. I took a look at it and liked the car and the owner. The owner was a BMW car enthusiast with very meticulous records of the car and did some extensive maintenance on it as well. The car was low mileage for the year and more importantly had the rod bearing replacement done recently. The owner did it strictly as a preventive measure but it’s close to a $3,000.00 job. After checking out the Carfax and doing a Pre-purchase Inspection, the car was ready to be bought. Plus the seller wanted to move on to an F80 M3 and gave me a sweet deal on the final price. It was a win-win-win all around.
Getting to Know You
So now I get to rekindle my love affair with the E92 M3. The engine is still spectacular and now driving a 6-speed manual makes me feel more in tune with the whole car. This is not a slight on the M-DCT which is a great dual-clutch transmission but for me, I enjoy rowing the gears myself. I already have some plans to upgrade the car with some simple mods and some performance gear. The car already has a killer exhaust – the Auto Couture Exhaust Mod – which you can see in the Glenn video review. Overall I’m happy to have another E92 M3 in the stable.
Any questions you may have on the E92 M3, please feel free to post below. Happy to answer as best as I can.