When I call the E46 BMW M3 a legend, I am not kidding. When compared to other generation M3s, it's hard to say that the E30, E36, E9x or F8x is any better due to the E46's driving dynamics. That says a lot.

And if you've been keeping an eye on used M3 pricing, you may be staggered. That's because these vehicles — in good shape — are fetching amazing numbers. Of course trying to find one in good nick is nearly impossible as every greasy handed idiot has gotten their paws on an E46 and certifiably ruined it.

But they're out there. One independent outfit, Enthusiast Auto Group, has been getting their hands on a lot of the cleanest remaining M cars and is putting them on the market at a premium. When I called to inquire about one E46 I was particularly excited about, they were more than happy to detail the individual vehicle's service history, blemishes and provide me with a slew of images. I have to admit, these cars seem to be well sorted and story free. Of course, not everything is rosy. Remember that premium I mentioned? Yeah, it's there. When I called up on an example and was told that the company is non-negotiable on all prices — even with an all-cash offer — I was surprised.

These E46 M3s are trading hands anywhere from $15,000-$22,000 DAILY. Why would I pay more than $30,000 on a depreciating asset that will NOT rise in value, ever. It's not a vintage Ferrari, boys and girls.

Needless to say I never called back.

Flash forward to last week when my brother picked up his 3-Series at Prestige BMW in northern New Jersey. Sitting there in all of it's Imola Red glory was a 2005 model year M3 with just over 12,500 miles on the odometer. It was woefully equipped with an SMG gearbox, which means no one wants it, and its asking price was...ready?


So, I have to ask after my experience: what is the MOST you'd be willing to shell out for an E46 M3?

**Note: We are NOT affiliated with Enthusiast Auto Group in ANY way.

**Note: To learn MORE about Prestige BMW, check out its rating on our sister site,!

What's The MOST You'd Pay For A USED BMW E46 M3?

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