Hey guys I am new to the forums, and I am in the market for my first car. I've saved up about 5,000 dollars and my dad said he would match whatever I saved by the time I was ready to buy a car. I've looked at a ton of cars, and I really like BMW's. So I was wondering if an M3 is a good choice, especially since parts are expensive for german cars, and with 10,000 dollars I would probably be getting an older M3 (95-98). Thanks for your help, and I am looking forward to any responses I might get.
How old are you? Insurance could be an issue.
I am very much in love with e36 (old M3s), the power comes on so nicely and they handle great, well at least in the dinan cars Ive never driven a stock BMW e36 but it cant be too much different, the only problems, would be the money you have for 10K you'd probably have to buy a higher mileage example and then maintenance would be an issue.
Maintenance can be pretty pricey, and insurance will be catastrophically expensive for a new driver. Have you thought about this when considering the E36 M3? If you really like BMW's I'd recommend an E36 318ti for a starter BMW. :thumbs:
As it's been said, maintenence will likely become costly. As far as
insurance though, I disagree a little bit with what was said earlier. Yes,
insurance is high for young drivers in sporty cars, but insurance rates are
based on the cars themselves as well. Although the M3 is quick, it is not
cheap. For this reason, many of the owners were probably in their
30s/40s/50s, and don't get into as many accidents say Mustang/Camaro
drivers who are often young, inexperienced, and dumb.
If you're not mechaically enclined and have no desire to learn, perhaps you should get a more reliable car to start off with and save up. Then again, that's no fun.
Yah, for insurance, my dad was gonna put his car (a Geo prism) under my name, and my car in his, that is if i get a sportier car, making the insurance a bit less. The main issue for me is like mentioned before the reliability and the cost of maintaining a BMW. I have also found a 1995 M3 with 89000 miles on it and its only 7300, the only problem is its in Oregon and I live in Michigan, making it impossible to test drive the car and get a diagnostic on it...but the price is way under blue book value.
There is obviously something wrong with it at that price so I wouldn't worry about it. Buy something that better qualifies as a first car, so you can learn to appreciate driving. An M3 is too much car for someone lacking in experience.
Alright thanks for the help guys :).