E36 M3, To Maintain or Mod, THAT is the question!

Hi!  This is my first post.  I have a 1999 M3 and have a stupid question.  I’m pretty sure I know the answer but want/need confirmation.

It’s a silver M3 coupe, 5-spd, black interior, 114k miles, pretty clean (except for the hood which has significant rust over the left headlight).  The car is stock except for the stainless braided brake hoses, silicone hoses, X-brace, and Dinan muffler.  I autocrossed it last year and got hooked.  This year I bought a set of RE71Rs and a 2nd set of Contours and have signed up for the EVO1 & 2 schools.  

As it sits I believe I can sell it for $12k.  So, here’s the question; Should I keep it stock and enjoy it the way it is (maintain the value of a mostly-stock E36 M3) OR Should I sell it and buy a cheaper M3 (already modded, most likely with a rebuilt title, but without the value my current one has) and build it into an STR toy as I learn the autocross skills?  It winds up being a question of driver/owner vs caretaker, right?  

The other thing is that I’ve also got a gen 1.5 FFR Type 65 Coupe I’m building and am trying to decide if that would be an even better autocross toy...

Thoughts?

If you’re confident in your valuation, I’d say sell it and buy one that is already track prepped if that is your ultimate goal.  You’re already looking at spending a few thousand more, so you should be able to buy up to a car that comes with spare wheels, tires, suspension, brakes, rtab pocket reinforcements etc.

I'd say sell it and go with an E46 330i. Once you track prep it, you'll lose a lot of the M3 ness of the car. you can get a 330I and track prep it for less than you'll get from the M3 sale. 

It's not worth $12k with "significant rust".  A $12k example has no rust.  Not even a little bit. 

So, your question should be, if I fix the rust, should I then sell the car, or keep it and turn it into what I want? 

Properly track prepping an E36 M3 can cost a lot of money, depending on how far down the rabbit hole you want to go.  There's a fine line between a street/track M3 and a track/street M3.  My '98 is probably in the latter category as it has the weld in chassis reinforcements, weld in oil pan baffles, welded oil pump nut, dual fuel pump's, etc, etc.  That stuff makes sure my car is going to be reliable on the track, but isn't totally necessary if you're going to only go to a track event here and there...

The rust is a concern----- have you thoroughly inspected the underside?  If it's been driven in Winter, it will likely  have a bit of rot there too.

There are plenty of sub $10K E36 M3's out there.  If I was making a track-rat, I'd buy a cosmetically imperfect one that already has some of the mods I was planning. 

.   As the good Doc. says---- if you are planning on driving it on the street, with an occasional track day / autocross thrown in---- I'd fix the rust, keep all the creature comforts,  and modify it lightly.  They are very versatile cars.   They can be excellent street cars, and excellent occasional track cars.   Once you seriously modify one for track use---- it will be less livable on the street. 

With mileage so low-----you should have a ton of life left in it!  

I have to agree with Doc, a rusty E36 M3 isn't desirable. Especially because it's easy enough to buy a non-M E36 and swap the bits over. 

Personally, I say mod the current one. An E36 M3 will never come close to the value of an E30 M3 for instance.

I think you should enjoy the M3 as it is and finish the FFR Type 65. 

It was driven in the snow before I bought it 5 years ago (came with a set of replica Contours with Blizzaks on them) but I’ve put it up for the winter while owning it.  Shortly after I bought it I replaced the deck lid, had rust under the emblem, found a nice used one on craigslist.  The underside is clean.  When I picked it up it had a rattle in the front that seemed to come and go, I thought it was an upper strut bearing, turned out to be a loose anti-sway bar endlink, tightened it up, replaced the tie rods, alignment, and she’s on rails.

Anyway, reading the comments is pushing me toward welding in mounting point reinforcement plates, possibly putting on bigger anti-sway bars, and installing new pads & rotors to have a good summer autocrossing it.  I’ll hang onto it and do some invisible improvements underneath, it really is a fantastic car.

Thanks guys!

$8000 will probably get you this.

https://austin.craigslist.org/cto/d/bmw-m3/6484379549.html

caged, prepped and ready to roll. 

docwyte said:

Properly track prepping a [car] can cost a lot of money, depending on how far down the rabbit hole you want to go.  There's a fine line between a street/track [car]and a track/street [car].

Paraphrased, but this.  Applies to any car.

I thought the '99 M3 came with the chassis reinforcement plates welded in from the factory?

Anyway, I don't know anything about what makes a good autocross car.  I know a large number of really good BMWCCA track instructors that drive an E36 M3 with the interior and AC still in service.  So maybe it's worth getting some track pads, swapping the front strut hats from the stock side to the other side, and trying it for a season?  Unless the autocross guys say it's a turkey for that application.

The 99 M3 did have welded reinforcements for the subframe.  I know  my 97 does.    For autocross you should be fine without adding any additional welding.   If you were going road racing, with big sticky tires, and higher G-loads, it can't hurt to strengthen things up a bit.

I'd keep it simple to begin with.  Change your brake fluid, add some decent brake pads, and have at it.   I've autocrossed my lightly modified M3 tons of times, and it's a blast.  Of course, sometimes I enjoy the ride to and from the autocross a much as the event itself.   They really are "Jack of All Trades" sort of cars.  

If I were the O.P,  I'd autocross the M3 a few times before tearing it apart to make a dedicated track car out of it.   It really doesn't need anything to be competent, and fun.  

I recently bought a nicely maintained 1998 Sedan m3 with 150k on it for 5100.

It already had konis and eibach springs.  I added Turner Motorsports sway bars, hawk pads and a square wheel setup with 245 rs4's.

My first track day with it is Saturday.  I am excited...

I have no plans on turning it into a dedicated track car, I just want to do some mild mods that will keep some of the known issues away (rear floor tearing around the subframe mounts?, reinforcing the trailing arm mounts, stuff like that).  Heck, last summer was the first time I drove it with traction control off!  I have tons to learn about driving it!  I ran on new Conty Extreme Contact DW last year, finally winding up at 45psi in front and 42 in the rear to keep from being on the sidewalls.  I have a new set of RE71Rs this year, can’t wait to try them but it’s been recommended that I use the DWs at the EVO schools (would be expensive to burn up the RE71Rs in 2 days of school).  

Anyway, my questions were mainly about whether I would be better off keeping it stock to maintain the value OR do some mods that could make it more fun to drive but may lower the value of the car.  I had a couple Volvo 242 ProRally cars a bunch of years ago and know that a rollcage can be a nuisance in a daily driver so I don’t want to go that way.  The toughest thing is that the M3, as good as it is at autocross, just isn’t a great all-rounder when it comes to winter road rallies & rallycross.  A 2006 or 2007 WRX might just have to find its way into the harem some day!  I suspect that, once the Daytona coupe is done, the M3 will get replaced by a clean, early WRX TR or STI.

Keep driving it the way it is and put the money you might spend on it into completing the FFR.  The FFr will be a better Auto-X and track car.