The E36 M3 haunts me!

I remember how the magazines fawned over it. I always liked them. But then that stupid video of the guy proposing in the middle of an autocross run hit and a prepped E36 M3 has been in my mind ever since. And there is one with a cage that cruises around near my work. And I just keep seeing them, in perfect shape, lowered a bit, K1s, exhaust, lots of suspension tweaks, the occasional cage...ARRRRGGGHHHH. Why must you haunt me? Why do I not own one?

Buy one! NOW!

Every time I drive this car I question why I am selling it, but alas a third row people mover is on its way! This is an extremely fun car to have in the mountains. Own an icon, a 1997 BMW M3. Rare 4 door 5 speed black over tan leather. 3.2 liter inline 6, Fast and Fun! Tasteful mods include lightweight flywheel, shark tune, exhaust, adjustable coilovers, camber plates, autosolutions ultimate shift kit. 200,000 miles, $ 8,750.

http://asheville.craigslist.org/cto/4571117615.html

I've had 2 and really want another.

In reply to trucke:

Very nice car... I long for a 4 door M3 with a 5speed

Yes, we're all haunted by them.

What about the M5?

stroker wrote: What about the M5?

1988 M5 local to me. My dream car, WAY out of my price range. A 1988 with 202k on the clock and the scary thing is they will get every penny of what they are asking

My 98 M3 4 door 5 speed was the best overall car I've ever had. Mild suspension upgrades, 17x8.5 wheels all around, did everything well.

ryanty22 wrote:

stroker wrote: What about the M5?

1988 M5 local to me. My dream car, WAY out of my price range. A 1988 with 202k on the clock and the scary thing is they will get every penny of what they are asking

So, what are they asking?

I've owned 4 and turned about 7 into race cars for other people. My own new race car is an e36 m3. My next dd probably will be too.

There is no reason not to buy the best one you can find - be it for racing or getting to work.

Except the part where you can't have just one.

In reply to stuart in mn: $22,500

ryanty22 wrote: In reply to stuart in mn: $22,500

ACK! I could have bought that car 5-7 years ago in perfect shape for $12k. When did they go and appreciate?

FWIW, I drove one of my student's E28 M5s at NJMP and after you have driven a modern 3.2 M3 or even a BR-Z... the M5 feels like a slow pickup truck. You can get 95% of the same experience with an '88 535is, a chip, and a set of coilovers and keep an extra $18k in your pocket. I had one I still miss for long highway cruising.

Giant Purple Snorklewacker wrote:

ryanty22 wrote: In reply to stuart in mn: $22,500

ACK! I could have bought that car 5-7 years ago in perfect shape for $12k. When did they go and appreciate? FWIW, I drove one of my student's E28 M5s at NJMP and after you have driven a modern 3.2 M3 or even a BR-Z... the M5 feels like a slow pickup truck. You can get 95% of the same experience with an '88 535is, a chip, and a set of coilovers and keep an extra $18k in your pocket. I had one I still miss for long highway cruising.

I know a guy who bought an e28 M5 for $500 not too many years ago, but that was an exceptional case.

These days they seem to be selling anywhere from $10k to $30k, depending on condition, mileage and history. $22,500 may be a reasonable number.

As for performance a modern V6 Camry is probably faster than a first gen M5, but it's not nearly as much fun to drive.

Giant Purple Snorklewacker wrote:

ryanty22 wrote: In reply to stuart in mn: $22,500

ACK! I could have bought that car 5-7 years ago in perfect shape for $12k. When did they go and appreciate? FWIW, I drove one of my student's E28 M5s at NJMP and after you have driven a modern 3.2 M3 or even a BR-Z... the M5 feels like a slow pickup truck. You can get 95% of the same experience with an '88 535is, a chip, and a set of coilovers and keep an extra $18k in your pocket. I had one I still miss for long highway cruising.

But it's my unicorn, right now the ones I've found the run and drive and are at least in decent condition run from 18-25. That one has a ton of miles but seems to have been well maintained. He will get it.

ryanty22 wrote: But it's my unicorn, right now the ones I've found the run and drive and are at least in decent condition run from 18-25. That one has a ton of miles but seems to have been well maintained. He will get it.

Well, my point was... if you buy a horse (88 535is) for $2500 and add decent suspension, chip and exhaust (stapling a horn onto the horse) it's really close to the unicorn and a whole lot easier to acquire.

e46 m3's can now be bought in the 9 to 10k range and not bad shape.......

I always wanted a yellow one since seeing in a magazine since a kid. That and the Z32 300ZX around the same time, always liked that car too.

Giant Purple Snorklewacker wrote:

ryanty22 wrote: But it's my unicorn, right now the ones I've found the run and drive and are at least in decent condition run from 18-25. That one has a ton of miles but seems to have been well maintained. He will get it.

Well, my point was... if you buy a horse (88 535is) for $2500 and add decent suspension, chip and exhaust (stapling a horn onto the horse) it's really close to the unicorn and a whole lot easier to acquire.

I searched 535is last night on Searchtempest and they seem to either be absolute junk in the thousand-dollar range or decent at $5K+. Still cheaper than the M5 but...

Is there a similar substitution that could be done for the M3?

stroker wrote: Is there a similar substitution that could be done for the M3?

Yes. All of the other 3-series of the same vintage plus bolt ons.

In reply to nokincy:

A 97 328is + LSD, OBD1 intake and 3.2 cams is pretty close but the price gap isn't nearly as wide once you buy that stuff.

An m3 isn't that pricy and you get good value for the money spent for the bigger brakes, larger bearings, axles, lsd, power and aero trim bits and so on.

GPS, isn't there a noticeable power difference between the s38 from the m and the high level m30 in the 535is?

I guess I'm the rarity. I enjoyed mine, but I feel like I got it out of my system, so to speak. No desire to have another. Now, an M5, on the other hand....

ryanty22 wrote: GPS, isn't there a noticeable power difference between the s38 from the m and the high level m30 in the 535is?

Yes - but the S38 only made 252hp/243ft/lbs at the crank in the E28 (and it's expensive + a pain in the ass to maintain).

The M30 made 207hp/225ft/lbs in '88. With a chip, headers and intake you can get a nice bump and a cam will get you right in the same ballpark (or if you do a lower final drive).

Now... the S38 got really strong later in the E34 models of the '90s but that was '92 when it hit 335hp. You can swap that one backward into an ordinary E28 and KILL the original M5 but it's still an expensive mill.

I've been wrestling with what to do with mine for a few years. It's been built into a perfect track day car, spare nothing. All the stuff people usually do last if at all is done; VAC oil pumps shaft and baffle, huge aluminum cooling system, dual fuel pumps, every possible weld-in reinforcement, every bushing in the car is new. It has under 90k miles.

But I don't use it. It's a pain to street drive w/ Cobra Suzuka Pro seats and 6-point harnesses, it's loud, it's uncomfortable. I spend all my track time racing my race car, so it sits in the back yard.

But most of what's good about it you can't see. It seems people expect that a track e36 M3 is $12-14k and I've got high 20s in this thing exclusive of labor. So if I sell it I take a huge bath.

What I'm thinking now is to pull the race stuff out, recover the headliner, put the stock interior back in, put on some softer springs, screw in a little ride height, replace all the crusty rubber bits, paint and install the new grill panel, detail it, and have a nice, fast street car.