318i Sport
hi,
I faced the same dilemma as you. But finally made up my decision last month to go ahead with the E46 318i Sport. I will be collecting my car soon.
My decision as follows :
1) E46 today will likely to have less technical / design-related problem since it's been in the market for 7-8 years. Previous problem found in the 1998-01 E46 like the water pumps for the wipers, electrical problems in the windows, lack of feel in the steering-rack, lack of oomph in the engine and general fitting quality has been improved after the facelift. In another words, you're buying a more reliable, better equipped BMW , never mind the aging looks.
2) 2002 E46 has a new engine which has Valvetronic. Valvetronic is the latest BM invention to boost the engine efficiency and you will see this technology gradually in all future BMW engines over the coming years. So in another words, the 318i N42 engine today is regarded one of the latest. In the forthcoming E90, you probably see the new 320 has the same engine carried over of 318i E46. In BMW tradition, it's been seen that usually a new engine is normally introduced in the mid life and not when a new model is launched. It's too risky in business because the sales volume of the 3-series can really turn BMW's profitability up-side down.
3) why didn't I wait for E90 ? simply because I know E46 does not have the i-drive. Ergonomic of the E90 dashboard (to the driver) is also thought to be not as good as the E46 (imho and you can see also from some car reviews).
4) PML is giving the discount today (as PML is starting to clear stocks). I expect launch price of forthcoming E90 to be relatively higher. Even if they are at the same price, you will see that the first batch of E90 will have very minimal option and very basic accessories. (history tells) This is usually PML sales strategy. PML has thrown in lots of options in the E46 today. ( instead of giving direct discount which will eventually depletes the brand value.) If you are looking for a BM for its sheer driving pleasure, the E46 today is a good buy . Imagine that the OMV of the 318 sport today is about 44K which is as good as or higher than that of a 320i some years back. If you want a car that shows you have the latest 3, I would suggest to wait for the E90. Otherwise, E46 is better-value-for money.
Gve me a call at 96950359. I can tell you more because I have carefully thought through this over the last one years - when is the best timing to buy. I can also share with you some of my research work of car reviews that showed E46 of today is a good & complete car. Also, I can tell how to go about getting the best deal from the agent who's selling you the car.
good luck.
