Interestingly enough, I am in the exact same position as you, considering the exact same cars. I probably won't act til early next spring though. I'm also throwing the Lexus IS-F, Audi S5, and MB C63 into the pot for consideration.
If your price range is $32-$38k though, you'll be "stuck" with the 2011 5.0 Mustang. You won't find a slightly used 2008 M3 in that range. I've been looking for a couple months and haven't found a 2008 (first year of the V8 M3) for even $45k and most are still $50k+. You'd have to drop to a 2006 M3 or potentially even a 2005 for that price range. The 2010 GT500's are mostly going for $50k+ and in my searches, its tough to even find a 2007 GT500 in your price range.
My biggest hesitation on the 5.0 is that I'll probably want to replace it again after 2 years or less (like with this mustang), and the resale value just straight up sucks on mustangs. And all other new cars for that matter. I won't hold out long enough for them to hit the preowned market either.
Assuming I can find one for a price I'm willing to pay, I'll likely go 2008 M3. In my eyes, the whole package is just leaps and bounds above the Mustang. Its got way more features, is far nicer, and stock for stock it outperforms the Stang.
If your price range is $32-$38k though, you'll be "stuck" with the 2011 5.0 Mustang. You won't find a slightly used 2008 M3 in that range. I've been looking for a couple months and haven't found a 2008 (first year of the V8 M3) for even $45k and most are still $50k+. You'd have to drop to a 2006 M3 or potentially even a 2005 for that price range. The 2010 GT500's are mostly going for $50k+ and in my searches, its tough to even find a 2007 GT500 in your price range.
My biggest hesitation on the 5.0 is that I'll probably want to replace it again after 2 years or less (like with this mustang), and the resale value just straight up sucks on mustangs. And all other new cars for that matter. I won't hold out long enough for them to hit the preowned market either.
Assuming I can find one for a price I'm willing to pay, I'll likely go 2008 M3. In my eyes, the whole package is just leaps and bounds above the Mustang. Its got way more features, is far nicer, and stock for stock it outperforms the Stang.
A lot of DD posts lately. Seem tough to advise because we all have different needs and what we define as acceptable. MPG? Power? Handling? Safety? Comfort? Price? Upkeep? Modification?
MPG-Highway DD should be 25+ highway. M3, should be close. 5.0, probably. GT500, maybe 22-24. In the city, all three will probably be around 13-15.
Power-M3 is of course a solid performer. Will hook of the line easier than a Mustang. 5.0 should be 380-400hp/360-380tq. Low end power, don't need to downshift to feel some torque. GT500 will have gobs of power everywhere.
Handling-M3 will be nicely balanced and will outperform stock for stock. 5.0 and GT500 will have more wieght on the front tires with more evident weight transfer. 5.0 and GT500 should hit .88-.90 lat accel which is very good.
Safety-Haven't seen ratings on M3, but the Mustang will give you 5 stars all around.
Comfort-Mustang seats have greatly improved on 05+'s than prev generations. Haven't sat in 08+ M3.
Price-Will be a bit before M3 will be in the mid 30's price range w/o a ton of miles. 5.0 will be there, as a used gt500 (not '10).
Upkeep-Tires, oil changes, brakes, etc will be more expensive on M3.
Modification-M3 mods are very expensive if you ever plan to upgrade.
These are just my opinions, but I'd go with 5.0 or GT500 anyday over the M3.
MPG-Highway DD should be 25+ highway. M3, should be close. 5.0, probably. GT500, maybe 22-24. In the city, all three will probably be around 13-15.
Power-M3 is of course a solid performer. Will hook of the line easier than a Mustang. 5.0 should be 380-400hp/360-380tq. Low end power, don't need to downshift to feel some torque. GT500 will have gobs of power everywhere.
Handling-M3 will be nicely balanced and will outperform stock for stock. 5.0 and GT500 will have more wieght on the front tires with more evident weight transfer. 5.0 and GT500 should hit .88-.90 lat accel which is very good.
Safety-Haven't seen ratings on M3, but the Mustang will give you 5 stars all around.
Comfort-Mustang seats have greatly improved on 05+'s than prev generations. Haven't sat in 08+ M3.
Price-Will be a bit before M3 will be in the mid 30's price range w/o a ton of miles. 5.0 will be there, as a used gt500 (not '10).
Upkeep-Tires, oil changes, brakes, etc will be more expensive on M3.
Modification-M3 mods are very expensive if you ever plan to upgrade.
These are just my opinions, but I'd go with 5.0 or GT500 anyday over the M3.
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