Advice on a 2003 Laguna Seca M3 with 56K miles

[95gsrturbo]

Friend of mine is moving and offered me the car before he puts it up for sale.
its a 2003 Laguna Seca M3, pretty much factory with the exception of an AC Schnitzer exhaust and carbon front lip, and mild suspension mod (dont know the brand)
Car only has 56K miles and has pretty much been garaged and babied. - No rock chips that I can see at first glance No track time ever

it is an SMG not traditional manual.
Tires are in good condition

Only problem with the car is the wheel sensor for low air is on at the dash and he thinks it may be a slow leak from a slightly bent front wheel. I doubt this is right but this is what he guesses.

KBB puts the car if in excellect condition from a dealer at $22, private party at $20...

Suggestions on price?

 

[MadtownNSX]

If you can get it for 20 or less take it if it has the options you want. I have an 04 and love mine. I'm looking to sell my 04 soon as I need to upgrade to a sedan now.

 

[Mike O]

SMG absolutely stinks. Ever driven one? I have...and it's the worst transmission I've ever had a chance to drive.

A friend of mine who owns a high line used car dealership here in Nashville tells me he will not buy an SMG M3 unless it is $3000-4000 less than book value. They bring way less than a 6 speed car.

 

[socalx]

Agree on the smg comments. Also you need to be careful early 2003 m3's have engine issues. You want a 2003.5 m3 or later model year. Yes there was a half model year or to make sue the main bearing / oil pump issues were addressed on the car

 

[JohnJW]

best e46 color

 

[DRIFTER]

SMG absolutely stinks. Ever driven one? I have...and it's the worst transmission I've ever had a chance to drive.

A friend of mine who owns a high line used car dealership here in Nashville tells me he will not buy an SMG M3 unless it is $3000-4000 less than book value. They bring way less than a 6 speed car.

^This^ I just sold one for well below $20K and made money on it. Its got low milage for the year but the SMG kills the value.

 

[jorligan]

There were ALOT of recalls on the early M3 including the main bearings, VANOS, Computer, etc. Wouldn't worry about the year as long as the recalls have all been performed. I had an 01 with a manual, it still did the track event an XPO last year without issues.

 

[itrsteve]

SMG blows; however, LSB's sell for much higher than blue book, always. Is this with dove or black interior?

I miss both of my E46 M3's, still my hands down favorite car.

 

[ozone]

LSB usually fetches extra money when coupled with a black interior and manual transmission. Grey interior/SMG diminish any premium for the color AFAIK.

It is truly an amazing color--I have one. I've been thinking of selling mine but decided not to because I know I will regret it.

Never drove SMG but they are known to have failures which can be expensive fixes.

 

[Ric]

When I was searching for E46 M3, alpine white exterior and imola red interior was the most sought after M3. There are WTB threads looking for this combo. I found one and prepared to pay the full asking price but another buyer already snatched it.

 

[95gsrturbo]

SMG blows; however, LSB's sell for much higher than blue book, always. Is this with dove or black interior?

I miss both of my E46 M3's, still my hands down favorite car.

Black interior....
Anyone know what month makes the 2003 to 2003.5 split?

 

[95gsrturbo]

So based on KBB being $19k if I pay 19 for an SMG I may have issues unless it's a 2003.5 and car is slightly less desired due to SMG.

I thought the SMG added value bc it was a true clutched manual.

Still debating on this vs an IS-F

 

[MadtownNSX]

Good luck finding an is-f for under 35k

 

[luigib]

Good luck finding an is-f for under 35k

hahaha true. The E60 M5's are really nice and pretty fast too but it's a risk you have to be willings to take.

 

[davidf]

I did some research on M3forum site back when I was wanting one. Theres been a few guys wanting to trade they're SMG car for a 6spd car.
I have a friend at the moment looking hard for a LSB M3 {readt to buy} and seems theres several nice nice supercharged M's with very tasteful, desirable mods
but yet have the SMG and I feel would sold if not for the SMG. :frown:

 

[95gsrturbo]

Good luck finding an is-f for under 35k

Agreed! I wasn't trying to compare cost though just the car I want vs something that could be a good buy then sell for small profit. I would flip the M3 within a year if It made any money or broke even.

Based on my current research I THINK I want a 2011 IS-F --- any opposition?

 

[Redgts]

Ive owned two E46 m3's. I would never own another.
SMG would be the main reason besides all the recalls not to buy an e46 m3. Vanos issues will happen, bet on it.
If you insist on m3, the LSB is the color to have for resale, but find a manual, and one that has had every recall performed.

 

[itrsteve]

Ive owned two E46 m3's. I would never own another.
SMG would be the main reason besides all the recalls not to buy an e46 m3. Vanos issues will happen, bet on it.
If you insist on m3, the LSB is the color to have for resale, but find a manual, and one that has had every recall performed.

I couldn't count the people that I know that own or have owned E46's and do not know anybody that has had a vanos-related issue (nor anybody that they know who has). If it wasn't for Internet paranoia I wouldn't even know it to be an issue. I put around 50k miles between my 2 e46's m3's and they were fine.

Its not to say to avoid being vigilant on the issue, most of the times it's $0.17 exhaust cam bolts backing out.

 

[NetViper]

After driving several smg cars I would never own one. Ever.

 

[ozone]

E46 M3 shouldn't be judged by the SMG. It's pure fun comes out in manual transmission like the NSX does.

I had some VANOS issues but they were thankfully covered under warranty.

A well-sorted M3 is bliss. It has a timeless design, revs high to 8k redline and is fun to drive (kind of like another car I own). It makes a great daily driver.

 

[bngl3rt]

best e46 color

Agreed. I'd love an LSB M3.

With regards to the SMG thing... are you thinking daily driver, or fun car? I would daily drive the heck out of an SMG M3. But then, it would be a bummer to DD such a comparatively pristine example.

 

[itrsteve]

A well-sorted M3 is bliss. It has a timeless design, revs high to 8k redline and is fun to drive (kind of like another car I own). It makes a great daily driver.

Truth be told, I liked my E46's more than my NSX. I just wanted to cross this off my honda-fanboy bucket list.

 

[95gsrturbo]

Truth be told, I liked my E46's more than my NSX. I just wanted to cross this off my honda-fanboy bucket list.

I wouldn't go that far! lol I enjoyed the E46 when I drove it and its powerful, more torque than the NS when I drove it but the timeless design of the NSX would allow me to sell the M3 before the NSX even though Ive owned my NSX for almost 6 years now

I was looking to the car for a DD thats why the SMG would have to be an option. In addition Im getting married soon so I need a car my fiancee/wife would be able to drive when needed as well--- without me having to worry about a $500+ clutch every time

Told the friend, no, he was a bit upset bc he wanted me (a friend and car lover) to have it rather than a stranger, but if you guys are interested I can get it pretttttyy cheeaappp.

He was looking for 19,500 and the car only has 56K miles, there are cars on ebay right now that the reserve was not met at 18500 with over 90K miles.