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I wouldn't feel comfortable buying a used E46 M3 unless I made at least $50k/yr after taxes. The added fuel and consumables cost just make the fantastic M3 too rich for my blood, as with any 10-yr-old German car. Same with the 2003 Audi RS 6 I saw for $22k. 450bhp, 40-valve bi-turbo 4.2L V8 (520bhp with just a re-flash), 8 piston front brakes, all-wheel-drive, leather and alcantara everywhere, and gorgeous metallic paint. 96k miles and full service records; original MSRP of $93k (well over $100k in today's dollars). However it gets 15mpg and when it comes time to change 9.5 quarts of Mobil 1, replace the 255/35ZR19 Michelin Pilot Sports, do a brake job on those 8-pot stoppers, or replace the timing belt every 40k miles, bend the f#%k over! Just because the sale price is cheap doesn't make the car affordable. If it were to be a second car and not a daily driver, this would concern me less, mind you.
Again, the M3 is absolutely brilliant and I would very much like to own one, but I know I can enjoy the FR-S/BRZ with a much smaller budget. If you can afford the upkeep on one, I very much envy you!
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Current: 2005 Porsche 911 Carrera S 6MT
Previous: 2 BRZ's, 997 C2S, C5 RS6, C4 S6, B8 S4, GDB STi, S30 240Z, FC3S RX-7 TII, AW11/SW20 MR2, E30 318is/325i, etc.
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