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      03-11-2013, 10:04 PM   #1
Mhaughey41
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Starting the hunt for an e46

I'm graduating college in a couple months and am FINALLY going to be in a position to buy my e46 that I've been drooling over for years. I'm having some trouble finding a good spot to catch one though. I'm hell bent on a 6MT (I've driven both and have formed my opinion) and definitely looking for an '05 - '06. Any suggestions on places to search for them because it seems like MT's are slim pickings these days.

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      03-11-2013, 10:09 PM   #2
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Quote:
Originally Posted by Mhaughey41
I'm graduation college in a couple months and am FINALLY going to be in a position to buy my e46 that I've been drooling over for years. I'm having some trouble finding a good spot to catch one though. I'm hell bent on a 6MT (I've driven both and have formed my opinion) and definitely looking for an '05 - '06. Any suggestions on places to search for them because it seems like MT's are slim pickings these days.
Patience will be your friend.
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      03-12-2013, 12:03 AM   #3
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I know you want a 6MT, but if you're willing to compromise, my clean E46 M3 is for sale!

Check out the link in my sig if you're interested!

If not, good luck with your search!
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      03-12-2013, 12:37 PM   #4
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Some people think they have high prices, but enthusiastauto.com have a bunch of m3s. They do a bunch of maintenance upon purchase and usually have some awesome combos! Give it a look, great rep as well when buying sight unseen.
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      03-12-2013, 04:53 PM   #5
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Originally Posted by Gom3rPile View Post
Some people think they have high prices, but enthusiastauto.com have a bunch of m3s. They do a bunch of maintenance upon purchase and usually have some awesome combos! Give it a look, great rep as well when buying sight unseen.

That's the other thing I'm afraid of. I realize to find "the one" I very likely will have to get one from far away. I've been in the auto business long enough to see enough bad things happen to people who do that.
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      03-12-2013, 04:56 PM   #6
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I know you want a 6MT, but if you're willing to compromise, my clean E46 M3 is for sale!

Check out the link in my sig if you're interested!

If not, good luck with your search!
Loving the car. It's gorgeous! Being that I'm about to be a college grad, I have pretty thin credit and not too much cash on hand. Is anyone familiar with ways to finance these older cars?
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      03-12-2013, 05:14 PM   #7
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I'm basing this on the Canadian banks, but I would guess no major bank will give you a car loan for a 10 year old car. Your best option, besides cash, is a line of credit. If you don't have any student debt this should be manageable and will give you the flexibility in payment terms.

Based on your comment "you're in the position to buy" means you have a job lined up which will make it easier for a LOC, but you still may have to wait a year to provide proof of income.
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      03-12-2013, 05:17 PM   #8
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Okay, that's exactly what I was looking at. I do have a job lined up for when I start law school next year. I know I'll definitely have to save up at least a few more pennies to drop a down payment on this baby.
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      03-12-2013, 06:17 PM   #9
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I have Tony Kannan's fully modded E46. Mint Condition, 6000 miles, 2006 car, Alpine White with full CSL interior, and 6MT.

Let me know if interested.
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      03-12-2013, 06:45 PM   #10
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Loving the car. It's gorgeous! Being that I'm about to be a college grad, I have pretty thin credit and not too much cash on hand. Is anyone familiar with ways to finance these older cars?
Try Penfed.org

If you have a co-signer, that might help you out a bit!

Let me know if you're interested! Looking for a quick and easy sale!
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      03-12-2013, 06:53 PM   #11
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Seems to be quite a few for sale on here lately. Good luck!
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      03-12-2013, 09:34 PM   #12
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A dealer was suggesting penfed to me. I've read a ton of horrifying reviews about it so I was a little put off to say the least. I have a long lasting relationship with my current bank and have family working there so I'm planning on trying there first.
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      03-13-2013, 10:38 AM   #13
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Quote:
Originally Posted by Mhaughey41
A dealer was suggesting penfed to me. I've read a ton of horrifying reviews about it so I was a little put off to say the least. I have a long lasting relationship with my current bank and have family working there so I'm planning on trying there first.
Really? Thats shocking, ive heard nothing but great things aboit it and have had many friends who have used it with success!

I plan on financing a bit of my next car with it!

Well, let me know if youre interested!
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      03-13-2013, 11:22 AM   #14
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Quote:
Originally Posted by Twinbo View Post
I'm basing this on the Canadian banks, but I would guess no major bank will give you a car loan for a 10 year old car. Your best option, besides cash, is a line of credit. If you don't have any student debt this should be manageable and will give you the flexibility in payment terms.

Based on your comment "you're in the position to buy" means you have a job lined up which will make it easier for a LOC, but you still may have to wait a year to provide proof of income.
I was able to get 30k loan for a 98' Viper out of college. I had multiple credit cards opened for greater than 4 years and 2 years of auto loan history for a WRX I bought in high school.

Interest rates are HIGH for old cars though, mine was close to 9%.
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      03-13-2013, 12:30 PM   #15
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That's actually REALLY good for a car like that especially right out of college. I'll be sure to check them out. Certainly won't need $30k for an e46, not trying to have a car payment above $250-$300/mo.
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      03-13-2013, 08:28 PM   #16
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when i bought my e46 ...my loan was 20k @ 5.50% for a 4 year old m3...and my payments were around $430/mo...which was a great rate at the time...now they are as low as 2.00 for cars up to 6 years old... and for up to 6 years in duration which should be able to keep you payments around 300/mo for a 20-22k e46m3, which seems to be market for a good example these days (mine is for sale as well )

i too am surprised...i have had 3 people finance via PENFED at 1.50% in the past few months and they are raving about it...i too plan to finance my e92 via pen-fed or my local APL Fed Credit Union...

Good luck
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      03-13-2013, 08:43 PM   #17
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Happy to hear some good news about PenFed. In my dreams I'd be in the market for an e92 but that's not in this broke college kids budget just yet haha.

I feel like I've looked at every e46 sale listing on the entire internet these past few weeks, except for the top quality ones here on the forum. Definitely agree that to get a prime e46 it's looking to be in the low $20k range. To keep a payment below $300 I'll have to finance about $15000 max which means I have some saving to do on a down payment.

Last edited by Mhaughey41; 03-16-2013 at 01:53 PM.
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      03-14-2013, 11:53 AM   #18
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Quote:
Originally Posted by dsu* View Post
I have Tony Kannan's fully modded E46. Mint Condition, 6000 miles, 2006 car, Alpine White with full CSL interior, and 6MT.

Let me know if interested.
Sounds like that might be a stretch out of my budget
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      03-14-2013, 12:17 PM   #19
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http://www.enthusiastauto.com/

E46 heaven...
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      03-14-2013, 02:27 PM   #20
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Yeah they've got great one's but $36k for an e46 in 2013? That's a little heavy, at least for me.
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      03-15-2013, 12:44 AM   #21
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Quote:
Originally Posted by Mhaughey41
Happy to hear some good news about PenFed. In my dreams I'd be in the market for an e92 but that's not in this broke college kids budget just yet haha.

I feel like I've looked at every e46 sale listing on the entire internet these past few weeks, except for the top quality ones here on the forum. Definitely agree that to get a prime e46 it's looking to be in the low $20k range. To keep a payment below $300 I'll have to finance about $1500 max which means I have some saving to do on a down payment.
Ya, getting under $300 a month isn't going to be easy without a decent down payment. Plus you have to factor in tax as well. Not to mention, maintenance on an e46 m3 isn't cheap. So to be completely honest, i would do a lot more research before pulling the trigger!!! Good luck!
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      03-16-2013, 01:54 PM   #22
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Ya, getting under $300 a month isn't going to be easy without a decent down payment. Plus you have to factor in tax as well. Not to mention, maintenance on an e46 m3 isn't cheap. So to be completely honest, i would do a lot more research before pulling the trigger!!! Good luck!
Yeah the one thing that I haven't done nearly enough research on is the maintenance. I don't really know what goes wrong with a 6MT around 100,000 miles.
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