Ok gang, here is a good one. I have always like the E30 M3, but the price of those things has become astronomical. I began recently thinking of cars that would be a good alternative to the M3 at a fraction of the cost. So let's try this:
What cars do you think would be a good M3 alternative? It must satisfy the following requirements:
Have 4 seats
Be able to perform at the same level as the M3 for less than $5k
Not require major component swaps to make it happen (no motor swaps or trans swaps. let's keep this simple).
Here is a short list that I came up with. Comment/add as appropriate.
Saab 900 Turbo or SPG (pre-GM)
Merkur XR4Ti - not sure, I hear the T9 is really weak
Alfa Romeo Milano Verde - not sure if this is under budget, but these are super cool
Volvo 240 turbo - not sure about this one either.
What do you think?
E30 or E36 325i/s w/ turbo or cams + suspension mods? Or an E36 M3- I've seen them as low as $5k, but they've got some miles on 'em.
SVTF
Reader
9/7/11 3:09 p.m.
Could you home-brew turbo a 325i? We have emissions here, but a 1986 or older doesn't have to pass.
So you'd have the same basic E30 chassis with maybe a mild 8-10 psi boost yielding more torque than an M3 and more power. Once you have the affordable chassis and the power, how close you want to clone an M3 is up to your wallet...............
The Merkur would require a T5 swap, I believe.
E36 m3's can be had for less than 5k with high miles.
E30 325i w/ turbo
E36 318ti w/ turbo or supercharger
In reply to ansonivan:
Can they? That sounds like a very scary thing to drag home.
Starion/conquest
E36 m3
2002 Turbo the m10
Supra
190E 2.3 16v,the Mercedes equivalent of the M3.
Mercedes 190e Cosworth? Ive seen a couple float around...
You do realize that E30 M3's aren't exactly fast. Like low - mid 15's in the 1/4.
Handling is little bit of a different story but I would imagine a 325is or any I6 E36 would get you 90% there.
I love the looks of E30 M3's but having driven them on the street I don't find them to be particularly thrilling cars. I fully admit that a track session might change my mind. Point to my modified RX-7 GSL-SE. A hassle to drive on the street but was fun on track. Stock it was much more fun on the street.
Acura Integra Type R ?
Voted one of the, if not THE, best handling FWD vehicles by 1 or 2 British auto mags (CAR and EVO).
Of course, that's assuming you REALLY want an alternative to that BMW.
to the o/p
it seems like you're overthinking the question not to include the more ordinary e30's in your possible answers.
Everybody really likes to forget that these were sold in the USA for 4 years. They are out there, most seem to be on the east coast/west coast with few in between, and you'd be hard pressed to pay more than $2000 for an immaculate example.
An E30 325i with a cam, chip, suspension kit and 15" wheels.
An E36 325i with a chip and suspension kit.
An E36 M3.
I am not sure about the handling of the Ur M3.. but I know my coilover suspensed 318ti can embarriss most M cars in the twisties..
Straight lines are a different matter. My little 140hp wee beastie cannot keep up and most M cars make it a point of opening it up after I have left them behind in the turns.
Have you considered making an E30 320is? These were sold in italy and portugal.. used the s14 engine with the 325 body and an uprated suspension.
I like the 325i turbo idea - we recently tuned one that put 350 hp to the wheels.
An Integra GSR or Prelude VTEC would check the right boxes, but finding a well cared for one would be a challenge.
As crazy as it sounds, there's a K-car that comes to mind: the Dodge Spirit R/T was designed with the M3 as a benchmark. It does have a couple unique parts that are hard to find replacements for. There's also the Daytona IROC R/T for a two door version.
Raze
Dork
9/7/11 4:01 p.m.
In reply to Geekspeed:
You should have specified whether or not any other bmw 325/318 was allowed as a comparison point, otherwise most people on this board, regardless of your instructions or intentions, will answer Miata, or E30 (insert a 3-series number here), wait, no one said Miata yet, so, have you thought about a Miata?
I like our XR4, but it's an unholy beast, not recommended for non-wrencher types...
History of the 320is
That said.. I would recommend a nice saab 900spg or turbo. Out of all the front wheel drive cars I have driven.. they are THE best handling I have come across. Some Hondas might pull more Gs in the corner, but the true double a-arm front suspension and longitudinal engine/trans layout makes for a steady handling car that is very neutral and talkative to the driver... provided you are not deep into a tight corner and boost at the same time
Greg Voth wrote: You do realize that E30 M3's aren't exactly fast. Like low - mid 15's in the 1/4.
Sometimes it's more fun to feel like you're going fast than to actually be going fast. :)
Oops. I should have known better. I was thinking more about non-BMW products. 
The E30s are getting spendy around here. I have been hard-pressed to find a late E30 325is for less than 5k.
How about a turbo Z31 or S13 240SX? I like the Starion in every way except for the boat-anchor motor.
I think the fact that I am a child of the 80's has given me nostalgia for cars of that era.
Milanos handle pretty well and have decent power, the 2.5 ones are near free too. They are not cheap to work on though. $700+ for a windshield, about $1500 for a throwout bearing, etc.
I've been keeping an eye on those BMWs too and it's the same story a little further North from you, too...
S13 falls under 'forget it' unless you want to pay the dorifto tax. Not sure how the handling of a Z31 compares to an E30 M3 but my guess would be "slightly inferior".
m4ff3w
SuperDork
9/7/11 4:43 p.m.
Milano Verde. You can find one under your 5k budget with room for upgrades.
