BMW’s first M3 took to the road – and track – in 1986; a machine developed to get the firm on the grid in the Touring Car Championship, but one which won such a passionate following its lineage continued.

By 1993 and the E36, the race-bred gene pool seemed to have been watered down somewhat, so BMW needed the next incarnation, the E46 M3, to come back hard and fast – which it certainly did.

The new model was leaner, using aluminium for the bonnet, suspension and even the brake calipers to keep the weight down. It also looked meaner. Compared to its sisters in the E46 model range, it had bigger wheel arches, a wider track and a very deep front spoiler. 

Its S54 3.2-liter straight-six engine had been borrowed from the S50 that came before it, but with considerable Motorsport Division enhancement it now developed some 343bhp. For the true devotees, there was a rare and expensive CSL, capable of – allegedly – 170mph.

Once again the M3 was back at the top of the Gran Turismo food chain.

Though not an especially low-ownership car, this M3 has enjoyed a good level of care from all its keepers. 

What’s more, probably due to being a convertible, it has remained in standard specification and has, in all likelihood, led a softer ‘driving’ life. 

Living on the Yorkshire-Lincolnshire border for the past year, the car has been used for light duties – local drives and the odd tour of the countryside. 

The BMW comes with a very comprehensive and reassuring maintenance record, right from it first ‘running-in’ service. All service stamps are from authorized BMW service centres, with many coming from main agents.

Reading through the extensive records, it’s also interesting to note that the car had a new SMG hydraulic unit, which controls the automatic transmission. The M3 also retains a sheaf of old MOTs, verifying its milage, as well as its original service books and leather wallet.

The car is also fitted with a Tracker unit should the new owner wish to reactivate it.

The M3 strikes a meaty pose on its wide, low-profile tyres. With its hard roof on or off, its lines remain taut with both the belt-line trim and the creases in the panel work telling you that the doors are properly hung. The deep front apron and rear valance also remain straight, showing even joins to the bodywork around their edges. The colour remains consistent across all materials and surfaces.

There a no significant blemishes to the metallic silver on the body, save for perhaps a small scratch on the offside rear wing just above the bumper. There is no brightwork to speak of and the few badges are in good condition. The edges of the door mirrors have escaped any grazes and that deep front spoiler shows only minimal scuffs on its lowest edge. The ten-spoke alloys are very presentable though some of their bolts are a little rusty.

The hard top clamps firmly and evenly into place (and is easy to remove too), fitting flush with windows and bodywork alike. Its colour matches the bodywork well and its rear window is clear and scratch-free. There is a thumb-nail sized bubble in the paintwork over the windscreen on the driver’s side, but this is small and does not detract from the overall impression the car makes.

BMW’s interiors have always been made of durable quality materials and the M3’s cabin remains a smart and enjoyable space in which to go touring. The black leather remains supple and shows no signs of fading. 

The seats retain all of their stance and shape with only light creasing. Understandably, there is a little more wear/scuffing on the outer bolsters of the driver’s seat than elsewhere. The rear seats appear little used. The tough ‘rhino hide’ plastics are in good shape. 

There are absolutely no signs of panels warping or loosening around the cabin, and while there are minor abrasions and nail scratches here and there, there are no significant marks. 

This goes for the door panels too, which, while showing very minor scratches to the brushed metal panels, remain solid and smart. Looking around this area, if you look down into the door cavities and hinge areas, you’ll see they are clean. Also, the door/roof seals are likewise clean, supple and free of cracks or signs of perishing.

The two most likely features to attract wear, the steering wheel and the gear selector remain attractive features, the latter showing just a little smoothing of the texture of its lower spoke (stitching is tight), and the chrome-plated gear stick remains shiny and unscratched. Its black leather gaiter hasn’t become a fluff and grit repository.

Carpets are stain-free and show a good pile/colour. The neat overmats show no marks from water ingress or heel wear.

The underside of the BMW looks to be sound. There is a degree of understandable weathering, but the undertrays, exhaust and suspension components (a little bit of surface rust on one or two) appear solid. The visible heat shielding appears to be in good order and there of no signs of leaks coming from the engine above.

Moving up into the engine bay, you will see that the motor and its ancillaries appear to be in excellent shape. The crackle finish on the cylinder head and elsewhere is clean and in very good condition and under-bonnet plastics appear strong and are likewise clean and retain a good colour. There are no signs of cracking, warping or bleaching. 

The heat/sound insulation under the bonnet is very tidy too. Hoses, leads and ducting look healthy and that cross-bracing  sits neatly atop two corrosion-free suspension towers. 

All components inspire confidence. There is only a light dusting of surface corrosion/oxidation on a few very small components, and everything looks like it has been regularly checked and fettled – just as the service history reports.

Making too many claims as to what the value of a relatively recent car might do is a bit dangerous, but prices of the E46 M3 have been rising for a couple of years now, and the model can make almost all of the Beamer Faithful go misty-eyed. 

And don’t forget, they made fewer than 30,000 of the convertible, so there aren’t that many to go round. What’s more, it’s just a damn good car; tough, reliable, fast, enjoyable and, in convertible form, just so adaptable.

 So whatever mood you’re in on any given day, it’s probably going to be the right car for the journey.