What’s the market for E92 M3 these days?

[lbo99 39]

Hi team, I’m currently thinking of adding another addition in my garage. Without doubt it’ll be the E92 M3. I was looking at the fire orange one on Trademe but unfortunately it got sold before I can even get my hands on it. 

I’ve driven a pfl manual one and facelift dct one prior and at this stage I am siding with the facelift dct one.

Is it true that the faceflift cars drives way better than the pfl ones? As based on my personal experience I like how the facelift car drives better. However, I wouldn’t mind if it’s dct or manual providing that it is a nice example. 

Feel free to provide your thoughts or tips on getting a E92 M3 team!

PFA

Edited May 24, 2023 by lbo99

[TonyT 48]

There is no significant mechanical difference between pre and post lci. In fact I don't think there is any mechanical difference at all. The reason they might feel different is probably down to age/mileage. A newer car and/or with lower kms will feel tighter than an older or higher kms vehicle. Remember these are 10-15 year old cars, and many of them are in the zone where wear in bushings and joints (especially rubber ones) starts to become noticeable. Rod bearings and throttle actuators aside these are pretty bullet proof. TAs can be done when they fail but best to have the cash available for whenever that might be. Delaying RBs is a form of Russian roulette in my opinion, and you will have more peace of mind if you just get them done, along with the motor mounts. Do your own reading and form your own opinion. The rest is up to you as to how much you want to tighten an older car up - its only money and time. Refreshing the front end is relatively easy, the rear end is harder. Trans and diff mounts are a pita. Good luck, nows a good time to be in the market.

[M3AN 4015]

Well, they were selling for low 20's a few years back... buying one now is not a good investment. They're the first of the big, heavy M3's which is not a cool thing, and is an M3 really an M3 if it has a V8? Bottom end is bad, but so was the S54's and that's still iconic.

If it's an emotional purchase and you have the coin go for it, if it's an investment it's a terrible one, if you want to thrash it then yes, if you're not going to thrash it then there's no point in owning it. It's not likely to appreciate with the same trajectory as an E3/4 series M3 because supply is not an issue.

[TonyT 48]

45 minutes ago, M3AN said:

Well, they were selling for low 20's a few years back... buying one now is not a good investment. They're the first of the big, heavy M3's which is not a cool thing, and is an M3 really an M3 if it has a V8? Bottom end is bad, but so was the S54's and that's still iconic.

If it's an emotional purchase and you have the coin go for it, if it's an investment it's a terrible one, if you want to thrash it then yes, if you're not going to thrash it then there's no point in owning it. It's not likely to appreciate with the same trajectory as an E3/4 series M3 because supply is not an issue.

Properly maintained you won't loose money on a E9x M3 in the near future. Nor probably the far future. Very few cars are good investments but the E9X does return many grins per mile, even when not being "thrashed". 

[gjm 3193]

Is an E9x M3 comparable in the 'genetics' sense to an E30, E36 or even E46? Maybe not.

Is it a lovely car to drive? Definitely. In 2008' Car and Driver' suggested it bordered on perfection. 

It's a great car. DCT or manual? Personal preference. PFL or FL? Just get the best one you can.

[E63 56]

Found this on an FB page if you’re interested: https://www.facebook.com/groups/792622097429141/permalink/6643124639045495/?sale_post_id=6643124639045495&mibextid=S66gvF

[Kees 581]

2 hours ago, E63 said:

Found this on an FB page if you’re interested: https://www.facebook.com/groups/792622097429141/permalink/6643124639045495/?sale_post_id=6643124639045495&mibextid=S66gvF

That car seems to be a sign of the dwindling car market. Guy really wants to sell, and granted its high ks & no rod bearing history - but he started at $40K which wouldn't have been awfully unreasonable exactly 1 year ago. Now down to 28K ONO, haven't seen an E9X M3 that cheap since 2020! 

$25K would probably own it....!

 

Personally I would wait, car market only seems to be getting worse and worse with interest rates on the rise, and people being cautious about spending. I think things might return to pre-covid levels. 

Porsche market is cooked, basically gave away my manual 987 a couple weeks ago despite all the "interest". There's 14 different GT Porsches for sale (I haven't seen that many for sale at one time ever!), 4 812 Superfasts etc, heaps of cars are getting dumped. B7 RS4 another good example, cars with ks returning to the 20K region instead of mid 30s.... 

Edited May 24, 2023 by Kees

[GorGasm 561]

Yep, no more cheap money means no more toys.  I'll likely have to give away my Maserati.

Personally if I was getting an E9x M3 I would only get a manual.  Sellers are asking too much at the moment I think.

Edited May 24, 2023 by GorGasm

[gjm 3193]

1 hour ago, GorGasm said:

I'll likely have to give away my Maserati.

<Ahem> Me, sir!

Had a couple of 222s. Loved them.

[E63 56]

As with any downturn, great time to be sitting on cash. Terrible time to be sitting on toys you love and in need of cash.

I didn’t realise the E92 M3 was a V8. If they did an E91 I’d probably call it my dream car. Could be a cool project one day.

[m325i 705]

10 hours ago, Kees said:

Porsche market is cooked, basically gave away my manual 987 a couple weeks ago despite all the "interest". There's 14 different GT Porsches for sale (I haven't seen that many for sale at one time ever!), 4 812 Superfasts etc, heaps of cars are getting dumped. B7 RS4 another good example, cars with ks returning to the 20K region instead of mid 30s.... 

Haven't been looking, but wow! Lots of e46 m3's too, with a wide price range now. I assume the JDM specials are in the same boat?

[325iRod 129]

Does the fact that these are the last 2door M3 help make them more desirable in the future? 

[E30 325i Rag-Top 2914]

Not really, the M4 is a 2-door M3 anyway. The fact that they are the last NA M3 is more desirable to some.

There are some versions that could appreciate over time if looked after, but not a reason you should really be looking for one of these.

[Kees 581]

2 hours ago, m325i said:

I assume the JDM specials are in the same boat?

Yes absolutely. But in my opinion, that market is slightly different in how it is presently compared with the Euro market.

Because prices jumped up so severely and so quickly on almost every turbo manual or fast & furious featuring JDM car (Skylines, Supras, Silvias, Evos, STIs etc), that trickled down to almost anything "JDM" with people feeling "FOMO", and that if they didn't get a JDM car right now, they would miss the boat, and ALL JDM cars would be unobtainium!! 

Coupled with cheap money + easy finance, and the social media "hype" around almost anything JDM, dealers had the best market to buy undesirable cars in Japan, and flip them to idiots in New Zealand under the guise of it being a "JDM investment". 

People saw the "desirable" turbo, manual stuff like Skylines & Silvias go from sub 10K, to "$30K, $40K, $50K" cars, and then expect their slow slush box N/A Toyota Chaser to do the same. 

The business model was simple but effective: buy something less desriable in Japan, like a naturally aspirated Toyota Chaser, for a couple grand, , ship to NZ -> Lower it, "New Mags & Tyres" + easy finance and put it up for $19,999, and have people lining up to buy. 

This created almost a perfect storm, where people thought they could buy a presently overpriced JDM car in the present, and it would be worth more in 6 months time. And for lots of people, this worked. If you bought a manual Silvia at the start of 2021, you would have made money selling it at the start of 2022. However, that time has now come to a close. 

What I feel this means is that the JDM market currently still looks somewhat strong, with prices not really seeming to drop. But barely anything is actually selling and there is SO MUCH supply. It seems people are being hopeful trying to get out of a boring car they paid WAY too much for at the start of 2022, and are not willing to take a big loss. 

Just look at how many WRX STIs are for sale for example.....

 

The Euro market by contrast I feel that sellers, like me, are more willing, and more used to losing some money on their car, and are realistically dropping their prices to actually sell their car.

I also feel maybe it's because for a lot of niche Euro cars, particularly ones that avoided the "investment" hype, my 987 Boxster for example, aren't really a car you'd find in a classic "Easy Finance" car yard, and appeal to a vastly different demographic to a Toyota Aristo. As a result, I think sellers can actually afford to take a bit of a loss on their car, and that is reflected with seller's realistically pricing their cars in a market with few buyers.

 

2 hours ago, m325i said:

Lots of e46 m3's too, with a wide price range now

It is on this "allusion of investment" premise that I think cars like an E46 M3 have such a wide price range now. I think a lot of people bought them as an investment. 

I remember when that Laguna Seca blue NZ New manual one, sold for $51K in early 2021, which at the time seemed like a strong result. By the end of the year people were asking north of $50K & $60K for SMG cars... 

If you look right now, there's dealers still asking $60K for SMG cars, and a dealer also asking $60K for a LHD manual. Realistically, who would be buying these? I don't think there's buyers even at $45K, proven by the fact that there are SMG cars available for $45K!! 

 

However, as a final point, I do think lots of cars, like E46 M3s have appreciated in value. BUT, the idea that cars supposedly "doubling" or "tripling" in value in the span of 18 months was/is ridiculous imo. 
 

Essentially I think that any car that was zoned as an “investment” (GT Porsches are another example) have huge price disparities, and people trying to get out what they were told it would be worth…

 

Anyway, that was a far bigger write-up and brain dump than I anticipated. That's just my 2 cents worth and my opinion on what's been happening and what will continue to happen. 

Edited May 25, 2023 by Kees

[Sammo 2477]

@Kees pretty much!

Anyways - E92 M3 would be a great choice for a daily GT car with an epic soundtrack - one of the last 'pretty' BMW's IMO, would expect to pay $40k plus for a good one.

[JohnM575 107]

Timely thread - I picked up this LCI Interlagos Blue E90 M3 last week. I specifically wanted a sedan over the coupe - the E46 isn't going anywhere, I wanted four doors for the practicality, and I actually prefer the look of the sedan over the coupe for the E9X generation. 

@lbo99 would the E46 make way for an E90 or would you keep both?

I don't believe there are significant differences pre-LCI vs LCI - depending on the service history, the car may be on original software and I understand this makes a slight difference to the way the DCT performs. I just had all the modules and software updated at the dealership as this is an ex-UK car with limited NZ dealership service history. 

Edited May 25, 2023 by JohnM575
Typo.

[M3AN 4015]

That's ^ a good looking car, well done.

[JohnM575 107]

25 minutes ago, M3AN said:

That's ^ a good looking car, well done.

Thanks - the car was sold on replica 359M’s that are slightly out of round causing a vibration, so the Hartge’s will do the job for the meantime. 

[lbo99 39]

1 hour ago, JohnM575 said:

Timely thread - I picked up this LCI Interlagos Blue E90 M3 last week. I specifically wanted a sedan over the coupe - the E46 isn't going anywhere, I wanted four doors for the practicality, and I actually prefer the look of the sedan over the coupe for the E9X generation. 

@lbo99 would the E46 make way for an E90 or would you keep both?

I don't believe there are significant differences pre-LCI vs LCI - depending on the service history, the car may be on original software and I understand this makes a slight difference to the way the DCT performs. I just had all the modules and software updated at the dealership as this is an ex-UK car with limited NZ dealership service history. 

Nice purchase John! I was actually looking at this car too but I personally prefer the coupe more. What are you going to do with the comp wheels that came with it?

No the E46 M3 will never go. Just wanting something more modern and a nicer daily that’s why I started looking into the E92 M3s. Have driven a few and I’m happy to say that they’re quite nice but nothing close to the E46 M3s imo.

Will be paying attention to the market and hopefully I can get a nice one soon. 

 

 

[JohnM575 107]

@lbo99 I will probably sell those wheels. They’re replicas, and aren’t the correct width/offsets. The paint condition is average too, so I would prefer a set of the standard 18’s or genuine comp wheels if they came up for sale.

Interesting points re: E46 vs E9X. In terms of modern tech features, the only real advantage my particular E90 has over the E46 is CIC with CarPlay retrofitted (granted the spec of mine is a little on the light side). Very handy for everyday use although the base audio system is pretty lacklustre. EDC is also a nice feature but I haven’t done enough k‘s yet to really test it out.

Edited May 25, 2023 by JohnM575

[TonyT 48]

4 hours ago, JohnM575 said:

the car may be on original software and I understand this makes a slight difference to the way the DCT performs.

The GTS software for the DCT makes a significant improvement to the way the DCT shifts - they become faster and smoother. Well worth getting. 

[lbo99 39]

2 hours ago, JohnM575 said:

@lbo99 I will probably sell those wheels. They’re replicas, and aren’t the correct width/offsets. The paint condition is average too, so I would prefer a set of the standard 18’s or genuine comp wheels if they came up for sale.

Interesting points re: E46 vs E9X. In terms of modern tech features, the only real advantage my particular E90 has over the E46 is CIC with CarPlay retrofitted (granted the spec of mine is a little on the light side). Very handy for everyday use although the base audio system is pretty lacklustre. EDC is also a nice feature but I haven’t done enough k‘s yet to really test it out.

Lmk when you want to sell them, I might be interested to get them if I manage to find a suitable M3 soon

[m325i 705]

Some what relevant an f80 just sold for $47k. I’d rather have that for the same money as a e9x personally 

 

Edited May 25, 2023 by m325i

[JohnM575 107]

My one was significantly less than F80 money, but yes looking at the rest of the E9X stock on the market they are priced around that level. Don’t think many would be changing hands at those levels in this market. 

Edited May 25, 2023 by JohnM575

[TonyT 48]

2 hours ago, m325i said:

Some what relevant an f80 just sold for $47k. I’d rather have that for the same money as a e9x personally 

Having driven both, the F80 would be easier to use as a daily, but the E9x provides the more special experience, something to look forward to driving.  Plus for $47k you'd be getting a ratty F80 compared to a rather better E9x. 

Edited May 25, 2023 by TonyT