If you're a BMW M3 fan, it doesn't get much better than the E46. Unless you have E30 M3 money, that is. For a certain generation, the E46 is basically the M3. Of course, wagons are always better than coupes and sedans, but sadly, BMW never actually gave us an E46 M3 wagon. It did offer a regular 3 Series Touring, though, so if you have the shop, you could always build your own M3 Touring. Alternatively, you could just buy the one someone else already built and listed on Cars & Bids.
Now, at the time of writing, the top bid is already $38,000, and there are still six days left on the auction (and by the time you're reading this it's two days later), so this won't exactly be a cheap purchase, but what even is money anyway? Numbers on a screen? Like that's real. Also, it looks like WWIII could break out at any moment, and if we're all about to die in a nuclear blast, is it not better to face your impending doom behind the wheel of a cool car?
More importantly, if you buy this "M3," you can have it in your garage in a matter of days, whereas building one yourself would take a lot of time if you want to do a decent job. As it turns out, a powertrain swap isn't quite as simple as they make it look on TV, and that's with all the necessary tools and equipment that you may not already have. Plus, building a proper M3 Touring of your own takes a little more than just shoving the M3's engine into a regular E46 wagon.
Cars & Bids
That said, this car does have an S54 and matching six-speed manual transmission, as well as the M3's driveshaft, axles and limited-slip differential, as well as its subframe, steering rack, control arms, tie rods, spindles, and sway bars. Oh, and you can't forget the M3's exhaust system or its brakes. You also get the requisite hood, fenders, kidney grilles, side vents, side mirrors and all the other visual touches that ensure what started as a 323i Touring looks exactly like the M3 Touring that BMW should've given us in the first place.
Even better, while the car itself just has boring Titanium Silver Metallic paint, the interior has been reupholstered with red Nappa leather to make the cabin far more interesting. According to the listing, the builder also made a few modifications to make the car more reliable, from replacing the rod bearings to reinforcing the rear subframe and modifying the VANOS system, making it easier to own and drive long-term. If there actually is such a thing as "long-term" anymore and not just a big flash before the world dissolves into nothing.
Can you buy more powerful cars for less? Absolutely. The S54's 333 horsepower and 262 pound-feet of torque are nothing special today, but this car isn't about being the fastest in a straight line. It's about owning something special and forbidden, something even BMW didn't think should exist. Except it does, and if you make the right decision here, that forbidden fruit could be yours without sacrificing the time, blood, sweat and tears that would go into building one of your own. And as best as I can tell, the builder put some serious effort into this one. Surely that's worth changing a few numbers on your screen.
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