5 Used M-Badged BMWs That Are More Than Twice As Cheap as a New M3 or M4

Established in 1972, BMW's M (short for motorsport) division has been in charge of the company's racing programs as well as the development of high-performance versions of its standard production models.

Unquestionably, the most popular M car is the 3 Series-derived M3, which debuted in 1986 as a road-going DTM homologation special and became an automotive icon.

From that point on, the M3 has been continually developed, with the fifth and current generation being introduced in 2020.

Since 2014, the M3 has been available only in four-door guise, while the two-door versions are marketed as M4.

Despite their huge front grilles, which caused quite a controversy back in 2020, the current M3 and M4 are some of the most impressive high-performance rides in their segment.

The starting price for an M3 currently stands around $76,000, while the M4 is about $3,000 more expensive.

If you're urging to own an M-badged BMW but only have about half of the money it takes to buy a brand-new M3 or M4, don't be discouraged.

You can buy an older, used M banger in great shape with ease, like the following five modern-classics.

BMW Z3 M Roadster and M Coupe

Launched in 1996 and produced until 2002, the Z3 was BMW's entry into the world of 1990s two-seat roadsters.

Based on the 3-series Compact's underpinnings, it was a fun little sports car available with four- and six-cylinder engines also shared with the 3 Series.

Gradually improved, the Z3 became available in shooting brake coupe for increased chassis rigidity and, from 1998 to 2002, in high-performance M guise.

The M Roadster and M Cope received bespoke bumpers, flared rear quarter-panels, larger wheels, an improved suspension system, and, last but not least, the M3's 3.2-liter six-cylinder S50 (Europe) or S52 (North America) rated at 316 and 270 hp, respectively.

In 1999, both versions received a facelift, and two years later, they received the E46 M3's S54 straight-six that made 321 hp in Euro-spec cars and 315 hp for the North American versions.

Today, the Z3 M Roadster and M Coupe are still extremely fun to drive and fairly potent. A 2001 or 2002 example with low mileage and a great overall shape usually sells for around $30,000.

BMW M3 (E46)

Produced from 2000 to 2006, the third-generation M3, codenamed E46 was the last M3 that carried over some design cues from the previous generations, masterfully bridging the gap between classic and modern.

Available as a two-door hardtop or convertible, it featured bespoke bumpers, a different hood, flared wheel wells, wider wheels, a sporty interior, and several chassis over the standard 3-Series it was based on.

Power came from a 3.2-liter S54 rated at 338 hp, which enabled the car to sprint from 0 to 60 mph (97 kph) in 5.2 seconds, regardless of whether it was linked to a six-speed manual or the SMG automatic.

The most lethal E46 M3 sold to the public was the 2004 limited-edition CSL, the lightweight version with a slightly more powerful engine.

These days, the E46 M3 is more and more saught after, but while you won't get your hands on a CSL for half the price of a current M3, the standard version has an average price of around $31,000 according to classic.com.

BMW M3 (E9X)

The fall of 2007 saw the introduction of the E46 M3's successor, which ditched the straight-six in favor of a naturally aspirated V8.

Available in four-door sedan (E90), two-door coupe (E92), and two-door hardtop convertible (E93) body styles, the new model's styling was a huge departure from the previous generations, as it featured more curved shapes than ever before.

Some hated how it looked, while others loved it, but nobody complained about the all-new engine.

Codenamed S65, the V8 developed specifically for the fourth-generation M3, was rated at 414 hp, which led to 4.6-second 0 to 60 mph (97 kph) for a manual-transmission equipped sedan or coupe.

Like the previous generation, the last-ever M3 available with two doors had special, lightweight editions (GTS and CRT) that featured a 4.4-liter, 444-hp version of the S65.

A used version of the standard E9X M3 can now be purchased for around $38,000, with the coupe usually being slightly more expensive than the sedan and convertible.

BMW M5 (E60/E61)

The larger 5 Series-based M5 actually predates the M3 by two years. Still in production today, it has been sold continuously over seven generations, but we're going to take a look at the fourth, which had arguably the most insane engine.

Produced from 2004 to 2010, the M5 was available as a four-door sedan (E60) or five-door station wagon (E61).

Unlike the previous version, which was more of a sleeper that could've been mistaken for a normal 5-Series by uninformed passers-by, the E60/E61 M3 received several aesthetic enhancements that made it more obvious it wasn't a normal 5-Series.

Furthermore, it didn't sound like a normal 5 Series, or any other production BMW, for that matter, because M engineers decided to stuff a V10 between its shock towers.

Codenamed S85, the 507-hp, naturally-aspirated engine, was a result of BMW's involvement in Formula 1, and to this day, it's the Bavarian manufacturer's only production V10.

The engine neither the most reliable nor the most cheap-to-maintain BMW M engine, which is why the E60/E61 M5 is slightly cheaper than the E9X M3. The average value for a well-kept example currently stands around $31,000, which is a bargain price for a V10-powered BMW, regardless of reliability concerns and maintenance costs.

BMW M6 (E63/E64)

In 2005, the M6 returned after a sixteen-year hiatus, and, as was the case with the E9X M3, its design was controversial.

To some, it looked like a stretched-out E92 or E93, with all the nice design cues of the latter being replaced with ugly ones. Nevertheless, others enjoyed the modern reinterpretation of a BMW icon, especially after raising the hood.

Available as a two-door coupe (E63) or convertible (E64), the new M6 was based on the M5's underpinnings and shared the same insane V10 engine.

Performance figures were also nearly identical, with BMW stating a 0 to 60 mph (97 kph) acceleration time of 4.6 seconds, as opposed to the M5's 4.7 seconds.

Today, the E63/E64 is more sought-after than its V10-powered sibling, with prices exceeding the $45.000 mark for a mint example with few miles on the odometer. However, there are examples in good shape with a bit more miles on the clock that goes for around $36,000, which is still more than twice as cheap as a new M3 or M4.