According to the dealer ad, today’s Nice Price or No Dice E46 M3 “pulls strong.” Let’s decide if the price tag means they are trying to pull our collective leg.
Like any smart carmaker these days, Mazda offers a healthy selection of crossovers and SUVs. Discounting hybrid variations, the company’s current lineup totals five models, with, oddly enough, a couple of those seemingly punching in the same weight class. Remarkably, the company also offers a single sedan—the Mazda3—for fans of the brand seeking something lighter, shorter, and less obtrusive.
Mazda has always had one or more models that go against the flow, with the 1994 MX-3 Precidia V6 coupe we looked at yesterday being a fine example of that practice. At 1.8 liters, its V6 engine was the smallest offered in any modern automobile, and paired with a ’90s-cool coupe body, that could make it the heir apparent at any Radwood meet. Our car came with an $8,500 asking price, but as it is being offered in Canada, that’s in Loonies. Converting to U.S. dollars means it’s just a tad over $6,000 here, an amount that earned the Mazda a solid 71% ‘Nice Price’ win.
Arrest-me red
Let’s talk a bit about national car colors. You know that’s a thing, right? British cars should be green—British Racing Green, to be exact. Italian cars, on the other hand, should rightfully be red—Rosso Corsa in Ferrarispeak. French cars are blue, and when it comes to cars from Germany, silver is the expected coat of armor.
That’s all fun and games, but far from the truth. Ferraris look just as amazing in Fly Yellow as the traditional red, and as many of us recall, something like 80% of all British cars built in the early 1970s were turd brown. People really liked that color. Similarly, not all German cars come in simply silver.
Today’s 2004 BMW M3 cabriolet, in fact, is painted in Imola Red, a specific hue that BMW introduced on the E46 edition, naming it after the venerable Italian racing circuit. When paired with the black canvas roof and Style 164 double parallels, it looks stunning. The ad gives us a full walk-around, and save for a minor scrape on the bottom-left of the deep front valance—most likely the result of a battle lost to a too-steep driveway apron—there doesn’t seem to be anything amiss with the bodywork beneath that standout paint job.
Swapping sticks
In the cabin, it’s just as solid a performance. The front bucket seats appear to have been reupholstered at some time, as they show no wear at all, even on the bulbous side bolsters. Additionally, their center sections are covered in a perforated material, while the rear seats (and most M3s in general) have solid leather coverings. Regardless, all the upholstery appears to be in top-notch condition.
There are a couple of issues here, just to pick a few nits. One is the missing ashtray cover at the rear of the center console. That’s a common failure on these cars, to the extent that replacements are easily available from places like Amazon. The other is the pair of paddles behind the steering wheel. According to the ad, the Getrag 420 six-speed now in residence was swapped into the car, replacing the original SMG-II gearbox. The required third pedal was added for the switcheroo, but the flappy paddles for the auto-manual box were left in place as a cruel reminder.
Clean as a bean
Fortunately, the transmission switch is a net plus as most of us would prefer to row-our-own in a car of this ilk. Also in good standing is the fact that the engine appears to have been left alone. That’s BMW’s stiletto in a silk purse, the S54 DOHC straight-six. In its American market guise, the 24-valve engine was claimed to produce 333 horsepower and 262 pound-feet of torque.
Per the ad, that engine has pushed this M3 for 135,000 miles and is currently described as being “Very healthy,” with the selling dealer stating it still “pulls strong.”
That’s essentially all the information we’re given about this M3. No history, no “passed inspection,” no how-do-you-dos. It’s a bit of a red flag on a car like this, as deferred maintenance or a previous owner’s heavy hand could spell doom for any new owner. A full pre-purchase inspection would be warranted if the selling dealer is amenable to the request. On the plus side, the car does come with a clean title.
Dealing with a dealer
It also comes with a $14,500 price tag (tax and license extra), and if you do some digging, you’ll see that price is reflective of the car’s mileage. Lower-mileage examples can be found, however, those will come at substantially higher asking prices. Performing a PPI and perhaps plugging the car’s VIN into Carfax or a similar service would go a long way toward getting to know it before taking the plunge into buying it.
So, what to do? Is this M3, which appears on the surface to be in very nice condition, worth a roll of the dice at that $14,500 price? Or do you think this red car is too much of a black hole for that asking?
You decide!
Facebook Marketplace out of Upland, California, or go here if the ad disappears.
H/T to Jim Hueur for the hookup!
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