996 Turbo or E92 M3

With a budget of about forty thousand the options you have for a fun, comfortable and practical sports car are pretty good. Unless you’re looking for something more specific. Maybe you want to hear turbos spool every morning or you want an obnoxiously loud V8 with 400+ horsepower. Sure you can settle for an EcoBoost or an '01 Cobra and call it a day but you’re better than that.

For me it has always come down to these two. The 996 Turbo and E92 M3. Both German, both fall under fifty thousand, both have around 400hp and both fit the description above. The M3 is a bit cheaper but much more expensive to maintenance while the Turbo is more expensive to buy but cheaper on the maintenance. It doesn’t take a fan boy to appreciate the performance and beauty of the 996 Turbo or the engineering that went into the M3s S65 engine.

Practicality? Yeah they got it. Don’t let the two door body fool you. Both of these come with four seats and ample room for your junk. Does it snow where you live? No problem the Turbo has AWD. Do you reside where the grass is always brown? Don’t worry the M3 has ventilated seats. These cars put down great performance numbers but BMW and Porsche didn’t forget about your wife, kids and local climate.

The M3 and 996 Turbo were both built 10-15 years ago. That might sound like bad news to most but what that really means is that you get a well performing car that has already hit its depreciation curve and is analoge unlike newer cars in its class. Sure these aren’t Carrera GTs and Zondas that we’re talking about but both come with a 6MT option and little to none electronic aids (that can be switched off).

Don’t let that scare you, these aren’t death traps. The Turbo has AWD while the M3 was built for the Autobahn meaning the engine has more top end torque and power than on the low end so don’t worry about the wheels slipping out from under you any time you tap the gas. Of course these cars aren’t all fun and games. Things break and they come with a price.

Despite the cars hitting their depreciation curve and becoming affordable, parts are still expensive. Everyone knows the infamous rod bearing issue with the M3 and the IMS situation with the 911s but it’s not as bad as forums might make it sound. If you decide to buy a high mileage M3 and don’t want to worry about a fifteen thousand dollar repair bill if the rod bearings go out then just get an oil analysis. If the results come back and they’re less than perfect then it’s time to replace them. Replacing the rod bearings before they go out will save you thousands in parts and labor. It’s still a month or two worth of rent but at least you get to sleep at night. Everything else on the M3 is not nearly as big of a problem as the rod bearings so don’t worry. It’s still a German sports car so keep some change laying around for maintenance and repairs and keep in mind that very few cars will perform like the M3 especially for the money. When it comes to the 996s they were notorious for their IMS bearing. Unfortunately this problem couldn’t be diagnosed like it could be on the M3 with an oil analysis. They went out like a bomb. No warnings just boom one day your car isn’t running and it’s a pretty penny to get it back on the road as it requires a new engine (20k). Luckily for us the mad scientists in Stuttgart had us covered with the 996 Turbo model. It came with a revised Mezger engine which meant no more IMS troubles. Instead we get leaky radiators, hydraulic pumps for the rear wing failing and other fun stuff. Much cheaper than a new DME for an M3.

Earlier I mentioned that these cars have hit their depreciation curves. What does this mean Alex? It means they’re not getting any cheaper and you can buy them, drive them and then sell them for what you paid for or more. If you plan on putting a lot of miles on the car then unfortunately that doesn’t apply to you but these aren’t collectibles or investments like 250 GTOs so who cares about value? All you need to know is that you aren’t missing out on any deals like you would be if you bought them for MSRP.

These cars aren’t for the average Joe. You need a passion for the automobile or deep pockets where repair bills don’t even make you flinch. If you’re like me, the only time you get a break is when you’re driving to and from work so you want something more like a comfortable roller coaster. For the money, you’re getting the full enchilada here. Comfort? Check. Power? Check. Reliability? Close enough. Eye Candy? Check. The Germans got it figured out. Do you?