2003 BMW M3 E46 Convertible

With just three former keepers – one of whom (according to the vendor) was Radio One DJ Carl Cox – and despite its higher mileage, this M3 is still worthy of your attention. The equipment level alone should put it on your radar. There’s air conditioning, bi-xenon headlights, cruise control, an M Sport leather multifunction steering wheel and rear park distance control. If that’s not enough, how about the electric adjustable front seats with memory function (including the mirrors) as well as advanced safety features including active stability and traction control?

All of this was cutting edge kit in 2003 and remains pretty high spec, even nearly 20 years later. Nice as all of these toys are, these aren’t why you buy an M3. The roaring heart of this topless stunner is its astounding S54 engine. This one’s hooked up to the SMG transmission that might not be as engaging or sporty as the six-speed manual, but it actually changes faster and can be a real bonus when you just want to sit back and cruise.

Those big flared haunches and arches are accentuated in this example by its Silver-Grey metallic paint. This desirable shade is also one of the two colours that BMW painted its CSL version of the M3 in, making it one of the easiest E46 shades to sell. Thankfully this one doesn’t seem to have had its image tarnished by rust as so many older E46s do, though the exterior isn’t without fault. The diamond turned 19-inch alloy wheels are sadly showing a little lacquer peel plus some moisture and kerb marks, though their tyres are a mix premium Continentals. If you can drag your attention away from the shiny AC Schnitzer quad-exit back box, then you might also notice the scuff to the lower nearside of the rear diffuser.

The good news is that overall, both the bodywork and paint finish appear very straight and bright. A good body-coloured hardtop is also included in this sale with an excellent accompanying headlining. The fabric top is less tidy but still sound, other than the section that attaches to what would be the C pillar on the coupe; this is hanging a little loose.

Any car with over 150k on the clock can be forgiven for not appearing in ‘as new’ condition and this one’s no different. It has however, survived its years and miles admirably. There’s the usual higher-mileage wear to the outer section of the driver’s seat bolster, plus some cracks to the steering wheel; indicative of six-figure mileage. The soft-touch centre to the wheel is also peeling from the bottom. There are some light scratches and stains around the door card grab handles, the backs of the seats and on several other surfaces, though it’s all here and everything works as it should. Even the hilariously out-of-date DVD-driven sat nav. The hardtop headlining appears in great shape, even more impressive considering that in this country it’s likely been used more than the fabric soft-top. 

It’s tricky to conduct a truly thorough inspection underneath any BMW from this era, as so much of it is covered by plastic, but from what we could see, there’s not a lot to fear. There’s a fair amount of surface corrosion to the suspension, roll bar, differential and subframes but this does appear to only be skin deep. Those aforementioned plastic covers prevented us from delving too much deeper. While we’re on the subject, the engine undertray has a large crack along its offside edge but it hasn’t affected the fit.

This is where this car plays its trump card. There’s a huge amount of history to accompany this M3 and most of it comes from the BMW dealer network. For example, there’s a weighty bill of over £1000 from BMW Service Chandlers, Brighton for replacement front wishbones, brake lines and anti-roll bar drop links in 2013. A rare independent invoice for £818.76 pops up from specialists Walkers Autotech, listing work including the replacement of the vanos pump a year later.

More recently, the propshaft coupling (gearbox end) along with the AC belt was replaced in 2018 by another specialist, Brown Motor Works. The same firm carried out a substantial charging system overhaul, including a new alternator and diagnostic session, in 2015 at a cost of £1542.27. Back to the BMW dealer invoices, there’s a big bill for all-four-corner brake replacement by Vines BMW, Gatwick in 2006 and then another for front discs and pads replaced again by BMW (Brighton this time) in 2013. There’s really far too much of this to list here, but take a while to read it all and you’ll get an idea of the level of care that this M3 has received.

An M3 convertible – especially one with plenty of use under its tyres – won’t appeal to everyone. Though this example appears to have received a level of care in keeping with such a high-performance machine. Also factor in the astonishing engine that can bellow its sublime six-cylinder soundtrack almost unimpeded and you have quite the intoxicating summer plaything. It won’t cost you the earth either as we’re offering this M3 with a reserve of just £7,000 - £12,000.

Viewing is always encouraged, and this particular car is located with us at The Market HQ near Abingdon. Our offices are open Mon-Fri 9.00 am to 5.00 pm. To arrange an appointment please use the Contact Seller button at the top of the listing. Feel free to ask any questions or make observations in the comments section below, or try our ‘Frequently Asked Questions’.