if you going to get an M3 it has to be he E36. best looking m3 by far.
i still think the way to go would be an Alpina B3. much more exclusive. that said im a 5 series man so it would be a b10 with a V8 for me
loads on offer http://www.pistonheads.com/sales/list.asp?g=1&s=311&filter=&o=&pc=&min=&max=&txt=&px=&p=&pagesize=100&xsl=gallery&y1=&y2=&d=0&dist=&nodays=0
I have to say having had both e36 and E46 m3s i liked the e36 better ! there is absolutly nothing in them performance wise, but just the retro looks do it for me, the only worry with the e36 is playing the vanos lotto, the 3.0 Non Evo model never suffered from this though, although you would need to make do with 50 horses less a hand full of torque and crap brakes (well Crapper)
theres ma boys there (Before i modded them anyway)
During my e46 M3 ownership i had to replace/repair
Self leveling arm for Xenons
siezed or ceased ? Calipers (sorry cant spell)
New Discs
New Pads
Rust under the door catches on B Pillar
Alternator
Battery
Tensioner
Sunroof fecked up
trailing arm bushes
Then the Biggie, A cracked subfrme, BMW quoted £6000 for the work
On top of that expect an average MPG of 24mpg, with BMW services from £350 to £1200 depending on what service is required .
The running in service must walk away from any that has not been complete at about 1200 !
There are a few other common faults like notchy gear changes (more of a trait that a fault) and some suffer from noisy diffs during low speed turning which can mean a new one is required !
Not trying to put you off of anything, they are great cars i loved mine to bits
