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This probably isn't completely relevant since my only experience is with an E36 BMW and you are looking for an E46. But my BMW has served me very well. The only real problem I have had since owning the car is a secondary air valve needed to be replaced. Apparently, exhaust was able to creep backwards and this caused the valve to become oxidized and therefore started sticking (BMW Mechanic said this was common for E36s - especially those driven in cold cliamates like MN). I had this replaced and have not had any other problems with the car, except little things like the radio display going dim every once and a while. I have several friends who drive BMWs. Some have issues, some do not. My take is, you can read all the reports you want about reliability, but when it comes down to it, it is the individual car that is the biggest factor. Every manufacturer has its lemons on the road. Maybe that is why so many people are leasing these days? Doesn't the new BMWs come with roadside assistance in the unlikely event something catastrophic happens and it dies on the side of the road? My recommendation is to seriously think about the BMW. After the experiences I have had with mine, there will always be a BMW in my garage!!! Good luck in your quest...
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Brian K.
'98 BMW 328i
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