Hi Gaz
Some info that may help you to make the decision:
1) Need to know that vehicle registered b4 May 2002 has a parf of 80% on OMV / Betw May 2002 to Feb 2004 has a parf of 65% on OMV / and fr Mar 2004 has a parf of 55% on OMV.
2) OMV for bimmer 3 series has been quite the same since the facelifted E46 318
3) So the difference in paper value could be due to 1) above or the different in COE price tagged to the car or combination of both.
4) Understand that for E46 318, the typical dealer take in price is Paper + $15-18K about. (but understand that my friend had his 5 yr-old Camry sold to dealer at Paper + $12K, that may mean bimmer could go to say Paper + $20K??)
Also, here is some sharing of my experience with the 2 diff models that may help you. I used to drive the E46 318 until last Nov. Since then, I have been driving the E90 323.
Below my views on comparing the 2 models:
Road Handling and Drive
- E90 gives better anti-roll. In other words, you could do better and more comfortable cornering. Other than that, I feel that both are quite identical in other expect of the drive (since both has the same engine)
- E90 320 delivers 150bhp while you get 143bhp from E46 318. I cant tell the diff when I test drove the E90 320
Styling and External Design
- Only thing I like about the E90 is the side contour. This is the unique design for bimmer since BMW launched the then new Z & 5 series 3-4 yrs back
- Comparatively, E46 gives you a more "chio" look. Its front headlight looks much fiercer and sportier and the car is also lower. On the other hand, E90 has a bulkier front and the tail light looks like many other Japanese made or korean made cars
Interior
- E46 has a deeper dashboard and makes you feel safer (buffer space from front of vehicle is more). Again, E90 has that of most Japanese / Korean cars look because of the shallower dashboard
- However, E90 is equipped with many more new technologies -- push button start, car "key" which will not cut your pocket!, fuel consumption meter (km/l or l/km), engine oil level indication, tyre pressure warning, individual temp control for front passenger and driver,.....
- The shallower dashboard also means that your rear seats passenger will have better legroom!
My advise is that, for the same yearly average depreciation (i.e. [price - parf]/[10 - age of car]), and that you are not a e46 body craze, E90 will be a good choice for the reasons IMC had shared.
But if you happened to like e46 sportier look more, then I think you should not go for 318i, go for the 320i (6 cylinders and 2.2L). Fuel consumption between e46 318 and e46 320 are only slightly different but the sound of the 2.2L engine is superb!
OK! Hope you are not confused.
Give a thot and do not rush. But I must say since I test drove my friends old e46 (before the facelift) some 5 yrs ago, I have fallen in love with bimmer. So, just go and test drive them.
Happy shopping!!