What would you guys recommend? Here's the situation. I have a 1995 Dakar Yellow M3 with 194,XXX on the engine. I love this car, and always will! I definitely have an emotional attachment to the car which I know can get in the way at times. But it has to come to the point where I am trying to weigh the options and decide whether it would be worth the money to put more money than the car is worth back into it and try to make it somewhat new again, or just move on to another car. It is pretty much bone stock, and if I were to rebuild the engine, I would love to add some small items along the way (suspension, wheels, race seats), but I know the engine is the number 1 priority right now.

I know the engine definitely needs to be rebuilt, and I have even talked with a few people about the idea of putting an E46 M3 engine into it. If I decide to redo a few things to the E36, at the same time I would like to strip and remove the rear seats and interior, add a rear cage, and possibly re-paint the car as well if it fits within my budget. Since I would be putting more money into the car than I know it's worth, I would obviously want to make the car as "like new" as possible and end up keeping it for the long haul.

On the other hand, I could just sell the E36, and purchase something else. Keep in mind this is my daily driver, and my only car. I would definitely like to do some auto-cross, HPDE's in the near future as well.

Thoughts and idea's of what others would do.

 

I would just keep it and jump into a E46. You wont get much for the E36 with the year/mileage, so might as well just keep it.

 

My thoughts are that you should continue to put a lot of time into thinking about this By the way, that shot is awesome, and makes Dakar look more fabulous than I've ever seen it!

But if you're going to spend a lot of money on that car, make sure you have a firm plan. If you do, it sounds as though the car will be almost more track-oriented than road-oriented: pulling the rear and the interior, adding a cage, and adding what will invariably be a firmer suspension. Would you then still want to use it as your daily driver?

But I'm confused - if the budget is $15-20k, how does a 135i factor in? And how much is an engine rebuild?

 

Well the budget is rough right now. To rebuild my current engine to stock would be about 6k. 8-10k for some race components. An E46 M3 engine can be had with about 50k miles on it for about $4500 but then it also needs a new ECU and wiring harness. I would obviously need to save up a little more for a 135i, but just trying to weigh all the options right now.

Yes I would still use this as my DD. I have always wanted a true race car I can drive on the street, which I know this is not exactly what it will be, but just saying that I don't mind the harsher ride for a DD.

 

Just get an E46 M3 slightly used. Car prices are pretty low right now. You could slowly work on the E36 and maybe find a motor for cheap along the way.
I just think for your only car, you'd be better off with a newer chassis. Little things tend to break on an older car, and that will start to add up.

 

e46 m3.. keep the e36 and work on it later down the line.

 

I have been through similar thought process with my 97 M3. Since it is your 'only' car and daily driver, there is NO point in doing 'race' mods to it.

You either need to 1. make it a track car 2. just put a few grand into it to 'refresh' the car 3. get a 'new' car E46 or whatever you want.

I love my E36, and plan on keeping it. Over the past year or two, I have put several thousand into the car when it needed things. I have a daily driver that does pretty well on the track for HPDEs and auto crosses. At some point, I will probably strip weight, do a cage, and make it more of a 'toy' that can still be used on the street.

I also debated seats and cage...but for the less than 1% of the time you will 'need' those items, it just isn't worth it on a daily driver.

Do a suspension refresh (I did Ground Control coilovers). I got new control arms, tie rods, I did a Z3 steering rack, bushings, lightweight flywheel, short shift, motor mounts, and the typical E36 cooling/pump things that need to be done. The car feels great.

I would probably look at doing a euro swap or an E46 M3 engine swap if the rebuild is as much as you say. I would DEFINITELY not put race components in a street car on an engine rebuild. It is going to cause more trouble than it is worth unless it is a track car.

I think you can put 5 to 10k tops into the car and still keep that smile on your face. I have done about that over the past 2-3 years, and I am very happy with my car.

Good luck with whatever you decide. PM me if you want to talk about it further.

SoCal

 

We may differ in our ways of thinking, you and I, but here's what I suggest from experience.

Out with the old, in with the new.
From my experience, you really don't know what you're missing until you really spend time with a new car. All the technological advances in performance, convenience, comfort, and efficiency have rendered new BMWs as completely different animals than their forefathers. You're in a situation where you could have a more economical, more enjoyable car for very little money, which will be safer, look better, and cause you less headaches. For me, there's no question.

I would either keep the E36 and strip it to a track car or sell it, and then I would LEASE (yes, lease) the 135i. Euro deliver it. It will be $600-700 a month, tops.

I know you all think that "leasing is for people who can't afford the car" - this is wrong. Leasing is a way to determine EXACTLY what you lose on the car in depreciation, up front, and then AMORTIZE that with a low interest rate. When you buy a car, you have NO idea what the value will be. None. You gamble. When you lease it, they determine what the value will probably be, and you pay it in installments. Sure, it may actually be more at the end of the lease than they anticipated, but at least there are no surprises, you know?

Most importantly, these cars are INCREDIBLY technological. Which is great.... If you're in warranty. If you're not, it means that repairing the turn signal stalk requires an entire ECU flash (true, happened to me) and could cost you thousands of dollars. Every little problem requires major diagnostic work...

The point is, you can get into a new car, no strings attached, and it will be much more enjoyable.

No question, in my mind.

 

Get the 135, it's a blast. I'm making ~370rwhp with the few mods I have.

 

I completely agree with SoCal, just freshen the car up a bit. For a DD, a roll cage and stiff suspension get old real quick.

Either freshen or sell - with that many miles someone would likely buy it and convert into a track car.

Have you even driven the e46 or 135 yet?

 

E46 motor in the E36...

 

E46

 

I will buy 135. I did the BMW driving school and the instructors said it has potential to be better then new M3. Suspension exhaust and some tuning and no one will touch you.

 

I can agree with your opinion as well. This past weekend I got to drive my buddies 2008 335 and he has done exhaust, chip, intake, and a few other bits. Anyway, he has like 400+hp and 400+ ft/lbs of torqueeeeee!

I could definitely see the advancement of the car. Putting my foot down in that 335 was awesome. The car was very nice and I could see myself looking at one in the future. What really got me thinking though, was what would a 135 feel like??? Same engine as 335 but with less weight! But for me, the 135 would be too much like my E36.

I will keep my E36 for sure, just have to decide what my 'new' car will be. Some say E46, but I would probably look for something a bit 'different' from my E36. In a year or so, I am thinking M5 or M6 to compliment the E36. The E36 will be my 'toy' and the M5/M6 will be the DD and cruiser car. No need to make those cars try to be good on the track when I would have the E36 for track fun.

Anyway. Good luck whatever you decide.

SoCal

 

Kind of a tough call.

E36 M3-True Classic. I would not put more money in it, especially if you ever plan on selling it.
E46 M3-Another true classic, more power/weight/luxury than E36 M3.. Just watch out for the earlier years
135i - No LSD, Forced induction=++HP/Torque. Lighter weight, but no ///M

Personally I would go for the low key 135i, in the past year I have seen one 135i and one 128i around here.