Getting rid of my M3 for a 350Z?
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From: Pueblo West, CO
BTW, I would strongly consider keeping the M3. Check into cost of an extended warranty to protect you thru the point of keeping the M3 till 100K. See if thru the combination of those things you can keep a very nice car and feel safe about not getting hit with huge expenses just because it's a M3. Search online sites to find a discount on the extended warranty as well. Lots of very reputable companies offer the service. Many of the big insurance companies do as well.
Originally Posted by undertow
If you're like me, the title to this thread sounds funny or idiotic.. but hear me out! :P
My M3 is a 2002 with 42,000 Miles, I just accepted a job that is about 40 miles from my house, so 80 miles each way just to go to and from work. I would be putting about 22,000 miles a year on the car -only- driving to and from work. As you can see by my 02 having only 42,000 miles. I don't drive it that much... about 8k a year or so. Anyways, forgetting everything else... my ///M is worth about $35k. I could get a new 07 (or 06 for a great deal) for considerably less. Or I could be smart and purchase an 04-05 in the $20k range and save even more money. And own a car that I think rivals the M3 in looks and I wouldn't mind putting miles on the car. Am I wrong in thinking a 100k Mile 350Z is more "acceptable" than a 100k Mile M3?
I've been going over this dilema and whether or not I should get out of my M before I am forced to drive it so much that I de-value it considerably and just hop into something that I'm not so **** about but still absolutely love (the 350Z). I almost bought a 350Z about 2 years ago, when I ended up getting the M instead. I've owned 4 M3s (3 E46 and 1 E36) and an STi.. but I keep drooling over a 350Z when I see them on the streets.
Financially, and for all arguments sake I shouldn't really be driving an M3 anyways, as I make a shade under $40k a year... even with this new job. I have extended myself on my loan to 6 years, and pay $484 a month for my M3 and would hope/love to be able to get into a 350Z for around $300-$350ish with a 6 year loan. Absolutely nothing wrong with my M3, I just don't want it to de-value that much.. I feel like I'd be doing the car a great injustice by purposely driving it 80miles+ each and every single day. Am I too hard up for the M3 and treat it with kit gloves, more than I should? I am posting on this site, in hopes of a few mature comments (and some not so mature) as well as a biased view towards my M3 and my obsession with it.
Please chime in!
Thanks
Kevin
My M3 is a 2002 with 42,000 Miles, I just accepted a job that is about 40 miles from my house, so 80 miles each way just to go to and from work. I would be putting about 22,000 miles a year on the car -only- driving to and from work. As you can see by my 02 having only 42,000 miles. I don't drive it that much... about 8k a year or so. Anyways, forgetting everything else... my ///M is worth about $35k. I could get a new 07 (or 06 for a great deal) for considerably less. Or I could be smart and purchase an 04-05 in the $20k range and save even more money. And own a car that I think rivals the M3 in looks and I wouldn't mind putting miles on the car. Am I wrong in thinking a 100k Mile 350Z is more "acceptable" than a 100k Mile M3?
I've been going over this dilema and whether or not I should get out of my M before I am forced to drive it so much that I de-value it considerably and just hop into something that I'm not so **** about but still absolutely love (the 350Z). I almost bought a 350Z about 2 years ago, when I ended up getting the M instead. I've owned 4 M3s (3 E46 and 1 E36) and an STi.. but I keep drooling over a 350Z when I see them on the streets.
Financially, and for all arguments sake I shouldn't really be driving an M3 anyways, as I make a shade under $40k a year... even with this new job. I have extended myself on my loan to 6 years, and pay $484 a month for my M3 and would hope/love to be able to get into a 350Z for around $300-$350ish with a 6 year loan. Absolutely nothing wrong with my M3, I just don't want it to de-value that much.. I feel like I'd be doing the car a great injustice by purposely driving it 80miles+ each and every single day. Am I too hard up for the M3 and treat it with kit gloves, more than I should? I am posting on this site, in hopes of a few mature comments (and some not so mature) as well as a biased view towards my M3 and my obsession with it.
Please chime in!
Thanks
Kevin
So I assume with this new job you'll be making more than "a shade under $40k a year"... perhaps $45-50K dare I say? no need to answer that. I read somewhere that as a general guideline, the purchase price of a car should not exceed 40% of the gross salary. Anyways, something to think about.
I think anytime you're selling your car, or buying a new one to replace it, you'll be losing money because of depreciation. You will get less for your M3 than you'd expect and pay a little more for your Z than you'd expect. While its true that Bimmers generally have a high maint cost after 3 years (an no one says you have to take it to the dealership), that cost will still be less than the money you will lose when selling and then buying a new car.
Also I wouldn't buy anything older than an '04. You would be downgrading if you traded in you M for a Z, let alone an older Z. The M is a more solid, better built car (try opening/closing their doors).
If money is a big issue, you should just keep your E46 and drop $3-5,000 on a used Japanese beater (97 civic comes to mind) and save your M for weekend driving. The M3 is a great car. The only other car I would drop my Z for would be the M.
Any pics btw?
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Joined: Oct 2003
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From: hb, ca
First thank you for alot of very helpful replies!
dkorr, I will answer your first question.. the shade under $40k a year, is actually what I am making now with the new job. I make basically $38k a year. After reviewing alot of information as well as talking on this board and the m3 forum, I think I either need to keep the M3 and get a beater ($3-$5k) or sell the M3 and get a decent commuter car (Civic/Corolla). I'll have to figure that one out on my own, I guess.. but I'm leaning towards keeping the M and getting a beater like most of you suggest.
I have a few pics on this computer but none that show recent changes to the car (wheels and exhaust, etc). anyway here are some pics:
Thanks again for all the help. I truly love both the M and 350Z and hope I'll eventually be able to own both!
Kevin
dkorr, I will answer your first question.. the shade under $40k a year, is actually what I am making now with the new job. I make basically $38k a year. After reviewing alot of information as well as talking on this board and the m3 forum, I think I either need to keep the M3 and get a beater ($3-$5k) or sell the M3 and get a decent commuter car (Civic/Corolla). I'll have to figure that one out on my own, I guess.. but I'm leaning towards keeping the M and getting a beater like most of you suggest.
I have a few pics on this computer but none that show recent changes to the car (wheels and exhaust, etc). anyway here are some pics:
Thanks again for all the help. I truly love both the M and 350Z and hope I'll eventually be able to own both!
Kevin
Last edited by undertow; Feb 2, 2007 at 09:41 AM.
I'd sell the M. The M is a nice car but with the new one coming out its value will depreciate a lot more than its current rate. With your salary you will benefit more from a Z because you'll have less monthly payment. Let's say you go and sell the M for 35k-38k. You can use 25-28k and buy a nice used 06 Z and be really happy with it. You will have less in terms of maintenance over the next couple years and you'll also have 10k left over from the M. The M is nice but if you were traveling daily you should get a Z.
If you're concerned and you want to get a beater, thats a good idea too but it certainly does not help you financially. You'll still be paying more monthly and you'll also have to pay for a beater, maintenance the beater, pay for insurance, etc. Get a Z, drive it to work - and enjoy the ride while you're doing it. I mean, if you're driving that much each day may as well do it in a car you love. Unless the parking at your job is crappy (parallel or crowded or just in a bad area in general) then you have no reason to be driving a beater. Cars are meant to be driven, not left to collect dust or hidden under a cover in your garage.
If you're concerned and you want to get a beater, thats a good idea too but it certainly does not help you financially. You'll still be paying more monthly and you'll also have to pay for a beater, maintenance the beater, pay for insurance, etc. Get a Z, drive it to work - and enjoy the ride while you're doing it. I mean, if you're driving that much each day may as well do it in a car you love. Unless the parking at your job is crappy (parallel or crowded or just in a bad area in general) then you have no reason to be driving a beater. Cars are meant to be driven, not left to collect dust or hidden under a cover in your garage.
After seeing the pics of your car the last thing i would do is sell it. Seriously. Why not keep it and drive it on weekends or nice days and buy a cheap beater. Hell, i would even take the bus if you can find one that goes that direction. That M3 looks great. Buy a civic/accord something cheap and gets good gas milage and park it outside while you keep the M garaged.
Originally Posted by bobS
After seeing the pics of your car the last thing i would do is sell it. Seriously. Why not keep it and drive it on weekends or nice days and buy a cheap beater. Hell, i would even take the bus if you can find one that goes that direction. That M3 looks great. Buy a civic/accord something cheap and gets good gas milage and park it outside while you keep the M garaged.
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From: phoenix
As a current E36 M3 owner, and one who is debating between an E46 M3 and 350Z (among others), I'd keep the M3 if you can afford the monthly payments. In my experience, my three BMWs (1997 M3, 1991 M5, and 1995 525i) have been far, far more reliable than the one Nissan I have owned (2001 Pathfinder).
The key to longevity is finding a good, reputable, *independent* mechanic who works only on BMWs. If you can do that (or do everything yourself), there is nothing to fear about a high-mileage BMW. My 97 M3 has 150,000 miles on it and is still going very strong. It has never made an unscheduled trip to the shop, and has never stranded me on the side of the road. I certainly wouldn't hesitate for a second to buy another I6 BMW (V8/V12 BMWs are another story entirely).
The key to longevity is finding a good, reputable, *independent* mechanic who works only on BMWs. If you can do that (or do everything yourself), there is nothing to fear about a high-mileage BMW. My 97 M3 has 150,000 miles on it and is still going very strong. It has never made an unscheduled trip to the shop, and has never stranded me on the side of the road. I certainly wouldn't hesitate for a second to buy another I6 BMW (V8/V12 BMWs are another story entirely).
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From: Here and There
Originally Posted by SilverII
get rid of the M3 and get a used civic. You dont have to worry about depreciation
The Z will easily burn more fuel.
I don't understand. People buy a nice car and don't drive it much? Why save the miles for the next owner? I had a 2000 supercharged Mustang, an 04 Corvette coupe and now the Z. I drove the Stang and Vette as much as I could and plan to do the same with the Z. Just food for thought...the Vette owner did not drive it much. I found it at the dealer with only 9k on it in Feb of 05. Paid 38000 out the door. The original owner paid 52K plus tax,tags etc. I got an almost new car saving 13K! Same with my 04 Z. Got it with only 13K on it and saved about 10K. Drive and ENJOY your M3. Don't save it for the next guy! jmho
i bought a used 03 track, with 38,000 miles for $16,900 on ebay. she runs like a champ. i pay $380 a month and i gave 0 down. so you can have a lower payment, but ill tell you, my Z is not good for traffic, i would much rather drive my 4 banger automatic on long trips and though traffic.
jorge
jorge
Wow, why all the hate for the bimmer? Unreliable? frequent valve adjustments? Expensive oil changes? Viscious rumors!
I'd keep the ///M...
Once the new M3 is out, prices on parts for the e46 will drop. It happened with the e36 when the e46 came out. E36 rotors can be had for $75 apiece - OEM brembos at bimmerparts dot com. The 06 GT brembo replacements are like $400-$500. Disgusting!
I have 220,000 miles on my 97 (e36) M3. I used it as a commuter for 4 years, 4-days per week, for 80-miles each-way (Bay area stop-and-go traffic). I have done ZERO mjor maintenance on it. Well, the clutch went out at 181,000 miles, but that's it. Changed the shocks out to Koni SA's at 80k miles and they're still good.
I don't run any exitoc oil. Just dino-oil every 3k miles. Loved changing the oil in the bimmer. The open-element oil filter just lifts out of a canister in the top of the engine bay after you remove the lid. so easy. No mess at all.
It still runs like new and that's no exaggeration. Just passed smog again and I had a compression test tone on it. All cylinders are within 6% of eachother. Engine and tranny are smoother than the 06 z!
It was a great commuter car for me. I still have it. it's a little more practical cause it has 4-seats. I like having a car that is paid off.
Suspension bushings do wear out but they are cheap to replace too.
I'd keep the ///M...
Once the new M3 is out, prices on parts for the e46 will drop. It happened with the e36 when the e46 came out. E36 rotors can be had for $75 apiece - OEM brembos at bimmerparts dot com. The 06 GT brembo replacements are like $400-$500. Disgusting!
I have 220,000 miles on my 97 (e36) M3. I used it as a commuter for 4 years, 4-days per week, for 80-miles each-way (Bay area stop-and-go traffic). I have done ZERO mjor maintenance on it. Well, the clutch went out at 181,000 miles, but that's it. Changed the shocks out to Koni SA's at 80k miles and they're still good.
I don't run any exitoc oil. Just dino-oil every 3k miles. Loved changing the oil in the bimmer. The open-element oil filter just lifts out of a canister in the top of the engine bay after you remove the lid. so easy. No mess at all.
It still runs like new and that's no exaggeration. Just passed smog again and I had a compression test tone on it. All cylinders are within 6% of eachother. Engine and tranny are smoother than the 06 z!
It was a great commuter car for me. I still have it. it's a little more practical cause it has 4-seats. I like having a car that is paid off.
Suspension bushings do wear out but they are cheap to replace too.
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From: New Jersey
Are you kidding me? Keep the M3, just learn how to do the basic maint on the thing, and try to get the extended warranty.
I have an 03 Performance Z and I also have a 04 M3,, and everytime I drive the Z after the M, cheapness comes to mind. Now granted the Z is sexy, and thats actually why I baught it, but the M is a true performance machine, so much better on all levels. Hey I mean for almost 20k more it should be.
Im 27 yrs old and I get respect in the M, most people look at me in the Z and think "oh heres some highschool kid with a Fast and Furious bs car, loud exhaust etc.." and I hate that. (and my Z is really clean, authentic NISMO kit, and nice wheels.. thats it) Anybody punk kid now can afford a Z, but not everybody can attain an M. It feels exclusive, I know that sounds gay, but whatever. Oh yeah and for all the haters that will comment on this, mommy and daddy didnt buy anything here, school, hard work, and owning your own companies will do that for you budget!
Stick with the M,, another reason, there are only a very few who are legit 100% nasty tuners of the VQ out there, nothing near the number of professionals that tune BMW's all day long. Way more aftermarket support if your interested in that. SO yeah keep the M, buy a Honda for commuting, then pick up a bike in the spring time! IMO of course!
I have an 03 Performance Z and I also have a 04 M3,, and everytime I drive the Z after the M, cheapness comes to mind. Now granted the Z is sexy, and thats actually why I baught it, but the M is a true performance machine, so much better on all levels. Hey I mean for almost 20k more it should be.
Im 27 yrs old and I get respect in the M, most people look at me in the Z and think "oh heres some highschool kid with a Fast and Furious bs car, loud exhaust etc.." and I hate that. (and my Z is really clean, authentic NISMO kit, and nice wheels.. thats it) Anybody punk kid now can afford a Z, but not everybody can attain an M. It feels exclusive, I know that sounds gay, but whatever. Oh yeah and for all the haters that will comment on this, mommy and daddy didnt buy anything here, school, hard work, and owning your own companies will do that for you budget!
Stick with the M,, another reason, there are only a very few who are legit 100% nasty tuners of the VQ out there, nothing near the number of professionals that tune BMW's all day long. Way more aftermarket support if your interested in that. SO yeah keep the M, buy a Honda for commuting, then pick up a bike in the spring time! IMO of course!
Last edited by ZESUS-C; Feb 3, 2007 at 12:34 AM.
