I have test driven both and have decided the price premium is worth it for the M3. I like how the M3 looks better (hate the silver interior of the Lexus), am getting M-DCT which I think will be better than the Lexus auto, and felt that the M3 was more aggressive and sporty. They are both great cars but the M3 was better. It's a personal decision as to whether the cost difference is worth it. Having had both BMW and Lexus cars in the past, the BMW's were always more fun to drive.
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