As many here know, I've been looking for a suitable "mid life crisis" car. I've always loved Porsches, so a 911 is my first choice. My criteria is to have something that can serve as a daily driver in my lousy SoCal commute, can haul my 5 year-old around (and potentially the whole family on weekends), and won't kill me in either depreciation or maintenance. My budget is about $25K.

My initial inclination was a '87-89 Carerra, since I can find reasonably good examples in my price range. Depreciation shouldn't be a problem, but suitability as a daily driver is questionalbe due to AC issues, and also the lack of airbags, etc is of some concern. The other logical candidate is a 964 (w/better AC, air bags, creature comforts), but in my price range I'm probably looking at a higher mileage car and hence more potential for maintenance costs.

After calling about a bunch of cars, I found my budget creeping up and up, but I still wasn't quite finding the "right one". I know it can take awhile, but I have a short window to make a purchase and enjoy it as we will probably be moving in a year or so, and the toy will most likely have to go.

So here's the question about my sanity. I looked at a '97 BMW M3 Coupe (not the tiny 2-seater that looks like an MGB-GT). While I've never been a fan of the typical BMW or it's owners (there are exceptions), the car is damn fun. Plus it qualifies for a lower interest rate loan, I can get a warranty on it, the AC blows cold, it's safe, etc. I found one w/42K for around $25K, so it works in the budget. The only thing is it will probably depreciate some in the next year or two, but I figure it is seen the worst part of the curve already.

So...I know it isn't a 911, but does this sound like decent reasoning? I can't really afford to buy the 911 I want/need (I really want a 993), and figure the M3 should provide giggles for a year or two, and by then the 964's or 993 will have come down a bit in price, and I might have a bit more money to blow.

Any psychoanalysis welcome....

 

If you're looking for affirmation, I think your choice makes perfect sense.

The E36 M3 is a wonderful car. While you surely won't have the same sense of dedication/involvement as you would with a 911 variant, given your stated requirements (daily commuter in So Cal, viable A/C, room for wife und kinder)it would be an easy choice for the M3 if you can only choose one.

Buy the BMW, enjoy it for a couple of years until you can get the 911 you want...
Good Luck!
Tim

 

You're right about one thing...
it's not a 911.

 

Select the BMW on the basis of its direct appeal for your driving pleasure. Drive a M3 for a while longer if they are new to you (even rent one if possible) - be sure about it. BMW's further depreciation will make reaching from a Carrera to a C2 later on even harder. If you are afraid nothing will make you happy but a 911, then get a 911 (now or later w/ more cash in hand). M3s will be plentiful AND the price will drop further.

 

that's true...but it's also not a 4-cylinder 4-runner

 

I have to admit it is a different experience. The 911's I've driven have been much more visceral. And I've driven a number of SC's and Carerras...some I've like, some I haven't. I do love the sound of the engine though...

I also drove a friends S4 and WRX last week. More great cars, and oddly enough the WRX really sent me...kinda cheezy interior, but great handling w/decent power. The S4 was chipped and just insanely fast.

This M3 was only the second BMW I've driven (drove one of the Z3 coupes awhile back), and I have to say I really liked it. Damn fast and corners great. Big grins. I also found the interior to be quite comfy...something I think I would appreciate in the long run while I'm sitting still on the 110 fwy (I know I wouldn't like a 915 tranny under those conditions).

All different rides...scratching different itches. I'll get a fairly long drive in the M3 tomorrow as the owner is letting me drive it to the shop of my choice for the PPI (20 miles each way). That should give me a good indication and move past the initial impressions to a more realistic one.

 

One thing we know for sure about good German cars... well cared for, they are almost as good & fun & (relatively) valuable at 200K miles as they are at 20K. While we are all concerned about that changing, historically, Japanese cars meeting that goal are a rare exception. I've heard nice things about the WRX (haven't driven it yet), but I would like to drive one w/ 100K miles on it to be confident that it is a long term keeper, an acchievement of many Poresches and BMWs.

Consider after your M3 drive... "if this were mine, would I NOT want a 911 for 3 years?" Take your time, don't be afraid to miss a deal if you aren't sure about it, and have a clear picture of the various financial issues (if relevant) - above all, try to enjoy the buying process, it's YOUR money!

 

One thing you might want to consider is that the BMW's typically dont hold thier value. Perhaps you should look for a turbo they are lots of fun. You should be able to find a 78-79 for 25k that is in good shape.

 

The importance of a PPI is shown yet again. The M3 I was looking at had been hit pretty bad...new front fender, new radiator, etc. Scratch that one. I'm going to go look at an '88 911 coupe w/104K on it. At least I know that it won't drop in value...and it strikes me that a lot of the M3's around have been abused, whereas there seem to be more sane Porsche owners.

The M3 was pretty fun though...lot's of power and luxury. I'll have to see what the 911 does for me after that experience.

 

A friend of mine just bought a '98 M3 - fun car, lots of power, but I think my '77 911 will whoop it's ***.

He didn't get a PPI, but he did get a carfax, which was clean. He keeps finding little things that are messed up on the car, like the front bumper and spoiler were painted, and all of the pieces behind it, ie ducts, covers, etc were replaced, albeit installed incorrectly. One of the covers fell off after about 2 weeks because it had been put on with only 2 sheet metal screws!

 

Lotsa M3s have been bought by people w/ money & urge, yet not so well-trained in VERY high performance cars. So... always closely examine the body seams, paint, corners (particularly low down in front, it tends toward understeer at the limit), and especially for signs of "farming" - the underside of a car reveals much truth. Remember when 930s first came out? There was a real shortage of rear end body panels for awhile...

 

What's "farming?"

 

I believe that would be taking one's M3 on an unexpected romp through the pasture.

"apex? what's an apex?"

 

I've always thought that if you need a "real" backseat, the M3 is the way to go. Not too large, decent looking and fast.

Also, if acceleration is your game, a (manual transmission) E36 M3 is faster from 0-60 mph than any N/A, stock, pre-964 911 (with the exception of maybe some lightweight/specialty models). Regardless, unless I had a need for the back seat, I would still take the 911 .

Speaking of acceleration, the new M3 Coupe is nearly as fast from 0-60 mph as a Z06 'Vette--and it's faster than the 996. Pretty impressive stuff.

Like those Subaru WRX's, too. Good car if you (again) need real backseats. And, you can buy a brand new one for the price of a used M3.

I think the ideal situation is a 911 and an M3 or WRX. If you can afford it, of course.

First time hearing the term "farming" for me too. Pretty funny .

 

"gone farming" is what a sports car does when it misses its apex close to a farm.