Talk me out of buying this E36 M3

[NeoMishMoo]

I've got a history of making knee-jerk decisions to buy questionable BMWs. (see my first thread in which I bought a home garaged turbo'ed M42 ti with fender vents) I find myself at yet another questionable purchase, need the knowledge base to help affirm my worries that this vehicle is not a good buy.

Looking to spend <5k for a daily driver that will get me 11 miles to work each day. Found a 1997 BMW m3 in a small town 1 hour south of me. Its a saloon and an M, and I believe that's clouding my judgement.
The Bad:
-196k on the odometer
-Interior door panels have been tightened down with machine screws
-Cheap aftermarket 5x7 speakers just screwed into door panels, no grilles
-Questionable Oil Pan work, found a ring of RTV that was used as a custom gasket
-Leaking Oil
-Questionable Auto>5sp conversion Left Auto wiring/lines on the vehicle dangling underneath
-possible "performance" clutch takes about 20lbs of leg pressure to full disengage clutch, uncomfortable to drive -Headliner barely hanging on, super sag
-CV boots torn, shot
-Suspension shot
-missing wheel center caps, missing spare wheel
-Key doesn't work in driver door, can't lock car or roll windows up/down
Pros
-S52
-Window/sunroof motors all work nicely
-Leather not torn

I've wanted an M3 for awhile now and the 4 door aspect is nice now that I have a kiddo.
But still 4k for an M3 and it does run...
http://dallas.craigslist.org/sdf/cto/5546491500.html

[anassa]

Originally Posted by NeoMishMoo

I've got a history of making knee-jerk decisions to buy questionable BMWs. (see my first thread in which I bought a home garaged turbo'ed M42 ti with fender vents) I find myself at yet another questionable purchase, need the knowledge base to help affirm my worries that this vehicle is not a good buy.

Looking to spend <5k for a daily driver that will get me 11 miles to work each day. Found a 1997 BMW m3 in a small town 1 hour south of me. Its a saloon and an M, and I believe that's clouding my judgement.
The Bad:
-196k on the odometer
-Interior door panels have been tightened down with machine screws
-Cheap aftermarket 5x7 speakers just screwed into door panels, no grilles
-Questionable Oil Pan work, found a ring of RTV that was used as a custom gasket
-Leaking Oil
-Questionable Auto>5sp conversion Left Auto wiring/lines on the vehicle dangling underneath
-possible "performance" clutch takes about 20lbs of leg pressure to full disengage clutch, uncomfortable to drive -Headliner barely hanging on, super sag
-CV boots torn, shot
-Suspension shot
-missing wheel center caps, missing spare wheel
-Key doesn't work in driver door, can't lock car or roll windows up/down
Pros
-S52
-Window/sunroof motors all work nicely
-Leather not torn

I've wanted an M3 for awhile now and the 4 door aspect is nice now that I have a kiddo.
But still 4k for an M3 and it does run...
http://dallas.craigslist.org/sdf/cto/5546491500.html

If your looking to spend 5k max and its a daily driver don't get the m3.

It is a fun car, it is a good project or project/daily but expect to spend the same amount as the buying price to get it in decent shape . . . depending on what you consider "good enough" condition. This is one of those things that will turn into a money pit. It is a M3 so you may get caught up in its possible performance or looks and start spending money where it is not needed just by being caught up in your imagination of what it can be. I know I do that all the time.

Might as well find a clean 4dr 328i or something that has service records, nothing shady - like the clutch and 5spd swap... you have no idea how that was done and it seems like the quality of work isn't high, which may result in more time work and money lost on your end. Then take the 328i you find for 3-4k swap out on a M bumper or some wheels and drop it a little and it will look cool, be a nice ride and reliable. If you have that kind of taste and you know you might mod it anyways.

If you know you want to tinker with it, don't buy at your max price point because you will always spend more money anyways. Unless you can afford it.

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Just to make it even harder of a choice . . . you might regret it though and wish you did get the M3 but if you really want it, then set standards and budget for exactly what you want and don't compromise. That may take some time, but in the long run it will be worth it.

[skimmer]

I was going to chime in with my two cents but then I clicked on the ad and saw its that its a white sedan.My favorite color combo��

The thing is with a e36 m3 or any m3 is don't buy the best one you can afford buy the best one you can find.Let the other guy plow money into it to make it nice and reliable.

[two30grain]

based on the use of machine screws alone i would avoid this car. If they take these kind of shortcuts, who knows what other shortcuts were taken or things were over looked.

[roadrash]

Originally Posted by two30grain

based on the use of machine screws alone i would avoid this car. If they take these kind of shortcuts, who knows what other shortcuts were taken or things were over looked.

That's exactly what I thought too.

What you save in the purchase price, you'll pay fixing issues anyway.