The 2001-2006 BMW M3 Convertible (E46) is a high-performance open-top variant of the third-generation M3, featuring a legendary high-revving S54 inline 6-cylinder engine. Enthusiasts and reviewers praise its perfect balance, phenomenal handling, and classic proportions. It is famous for its silky-smooth engine, beguiling sound, and iconic status. However, it's infamous for requiring significant preventative maintenance, sometimes totaling $10k or more. Today, the E46 M3 is well-suited as a fun second car or road trip enthusiast car, although some owners successfully use it as a daily driver with appropriate maintenance.
The E46 BMW M3 has poor ownership costs, with high average annual repair and maintenance expenses (potentially $1,500-$2,500). Reliability concerns exist, often requiring major repairs like rod bearings. Insurance costs are higher than average.
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