The E46 was the most expensive car to maintain in the entire history of the M Division and at one time, was the most expensive BMW to maintain.

I would stay away from this unless it was the final production year when they finally had ALL the bugs and engineering issues ironed out.

Just my opinion on the matter.

 

I would say either an e46 m3 or possibly an e39 m5, the latter if you don't intend on tracking it.

 

They didn't get ALL the bugs out. The bearing still have issues and can still blow up. VANOS will always be at risk, and the valve job will always be an overnight ordeal. The rear subframe can still fail if you install an aftermarket suspension.

Otherwise, it's still a SWEET car.

.

 

I have my Z4M coupe for sale for $25k if you're interested! Love the car, fits like a glove!

 

E39 m5

 

I've owned most every M car until the very modern ones when the weight ballooned. I would go e39 M5. Once they are set up properly, they are a blast to drive, sound awesome and tons of torque. One of the best all around cars....ever imo.

 

I have really enjoyed my X5M a lot the couple years I have had it

 

Go with the E46. I had 2. I have a white 2005 that I will probably sell shortly (moving to an E9x).

 

If you look to pamper it .....Get e46 M3. Great car .
If you you thinking to track it get e36. They cheaper and under 25K you can find one already set up for the track !

 

It's definitely a toss up between the E39 M5 and E46 M3 for that budget as well, the M5 is just such a sleeper when modified the right way, plus you have more room and versatility than the E46. But I know the E46 M3 is still the holy grail for many M enthusiasts, so I guess it comes down to what you're using it for and what you need/want to get out of the car. Can't make a wrong choice either way though, both amazing automobiles.