2002 Bmw M3 SMG

About this Bmw M3

BMW E46 M3 SMG Convertible – Steel Grey Metallic – 162,000 miles – Category N – Major Work Done

Selling my BMW E46 M3 SMG Convertible in Steel Grey Metallic. The car has done 162,000 miles and is recorded as Category N. It received the category in 2023/2024 due to front driver-side damage. All affected parts were replaced by me when I bought the car in October 2024.

In my ownership, the car has had a lot of work done, including:
Rear subframe reinforcement carried out by BMW Dartford, using Redish Motorsport plates and Powerflex bushes in the subframe and diff. This is a very common issue on these M3s, and the work cost just over £2,000.
Bottom-end bearings and valve clearance adjustment — two common S54 issues that typically cost upwards of £1,500.
Common oil leak areas addressed: rocker cover gasket, sump gasket, and CPV valve O-ring replaced.
New throttle actuator installed — this part is no longer available from BMW — along with two new BMW throttle position sensors and both pre-cat O2 sensors.
All new shocks and springs, track rod ends, front and rear drop links, front wishbones, and rear lower trailing arms with new bushes.
Full service including engine oil and filter, gearbox oil, differential oil, and a new Yuasa battery with 5-year guarantee.
Milltek cat-back exhaust system installed — this costs upwards of £1,200 new and gives the car a nice deep rumble.
Several panels resprayed — including the driver’s side wing (replacement was a different colour), and both front and rear bumpers which were showing their age. This cosmetic work cost just under £2,000.
Interior refreshed using better-condition second-hand parts including door cards, seats, gear knob, and a new leather steering wheel cover. The FSR (hedgehog) — another common issue — has also been replaced.

The car runs and drives with no issues. Tyres, brake pads, and discs all have plenty of life left. It comes with 6 months MOT, 2 keys, and paperwork for all of the work carried out in my ownership. There is no previous service book, but I have confirmation from BMW that the car regularly visited main dealers between 2002 and 2020.

There is no rust on the wheel arches — another common issue on E46s that this car doesn’t suffer from.

It’s priced according to mileage and Category N status, but represents a great example with a lot of money spent where it counts. Viewing welcome — I’m happy to take you for a spin and show you how well it drives.

If you’ve seen a cheaper, lower-mileage M3 that isn’t a Cat N, check whether it’s had the subframe and bearings done — most haven’t. At this age, nearly all of them need it. This one doesn’t.

More pictures available