I think, if I were you, I would rather keep my money for what you have now. I agree to what the others said about keeping your present one.

 

I'd keep the e36 and slowly turn it into a track car, because you won't get anything out of selling a car with almost 200k miles. Put that 15-20k towards a e46 M3, you can find them fairly cheap now days.

 

Personally, I think it is time to move on if I had to put into a car significantly more money than what the car is worth. I would keep the M3 as a DD and put the $15K-$20K into a track car if that is what you want. It might not be an e46 M3, but buying a car that is already prepared tends to be generally cheaper than getting it done yourself.

 

Get a e46 m3. Its the best of both worlds, you have a awesome DD with all the electronics and looks of a modern car. Then you also have a 333hp high reving M with m-diff and great brakes for the fun times. If you have 20k cash you can have a nice e46 m3 and the e36 as a track car.

rideontwo - no offense to e36 owners, but the motor is not a real M motor, it does not have individual throttle bodies, unless its the EURO evo motor. The e36m is a classic design, but no where near as much of a M car as the e46. At least here in the USA versions

and to add to that, why "look out for the early years" on the e46? I own a 2001 with 52k miles and its been great to me, besides the pricey oil changes.

OP dont be afraid of the 2001-2002 M3s, everyone has this idea that the earlier m3s are prone to failure.. completely not true. Just make sure it has had the rod bearing recall done and that its a 6spd instead of the SMG. SMGs are very expensive to fix and the SMG pumps go out consistantly.

Good luck, Travis

 

i would go with an e46 m3. i think you'll be satisfied and pleased out of all those cars

 

Just get E46 M3. I used to have few E46 M3s and they're great cars.
I have 997s for now but I'll get another E46 M3 very soon!

 

thanks for all the comments, I am looking to sell my car and pick up an E46 M3.

 

E46 M3. No question.

 

I would have to go the others on getting an E46 M3, slightly biased owner the selling of your E36 is not really an option with the little you will get for it you will regret it later and once you own the newer M for awhile you may want to start dumping money into it for track use. Although your car would be great for the track with some well spent money, that is quite a common thing with M3 owners - dd the newer one and track the previous gen. I have enjoyed mine every day for over 4 years and still stock.