911 over M3...
Went through the same process myself. Had an 87 911 targa and went to the BMW dealership to look at CPO M3s. ended up almost buying a used 997 on their lot right then and there. two weeks later I had sold the 87 targa and bought a 997S
I've had both! Loved our '04 M3 Vert but recently sold it!
We ended up buying '08 Targa 4S w/5k miles and never looked back! Amazing car!
Could've gone with new M3/M5/M6, Nissan GT-R... There are faster and even better performing, but in the end, it's the overall combination of performance and classic looks that makes Porsche's desirable - there is no substitute!
We ended up buying '08 Targa 4S w/5k miles and never looked back! Amazing car!
Could've gone with new M3/M5/M6, Nissan GT-R... There are faster and even better performing, but in the end, it's the overall combination of performance and classic looks that makes Porsche's desirable - there is no substitute!
Wow how did you find a place between a porsche and bmw dealership

Sorry, couldn't resist.

Sorry, couldn't resist.
His experience was with a C2 vert. Not so easy. The M3's are a lot of fun, and very decent performance. 911's are a LOT of fun, but lack some of the versatility of an M3.
If it were me:
M3 (E46) > 996C2
996C2/4S > M3 (E46)
E92 = 997C2/4
997C2/4S > E92
997 Turbo > just about everything else.
To go back to the original question - I'd spend $25k on an old C2 before an M3. Obviously, there would have to be some maintenance issues either verified or addressed.
I have owned an E36 and E46 M3 as well as several Porsche's . I recently sold my E46 M convertible and went to a classic air cooled 911 (1985). In my opinion, the 911 is iconic and pure performance with an edge. I have always felt like the M was nice, but it just isn't the same thing as a Porsche. There just isn't a comparison. Go with the Porsche in my opinion.
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