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Five most affordable auto insurance deals for the BMW M3

The BMW M3, a part of the 3 Series, is a high performance car. This luxury coupe is one of the best in the company‚Äôs motorsport performance division. The car has state-of-the-art suspensions, is extremely agile, and has a sporty exterior.  It is an all-time favorite of those who prefer the sports car look.

The price of a used BMW M3 ranges from $25,935 in Wisconsin to $65,995 in Washington. The average annual insurance is also the lowest in Wisconsin, set at $1,596. These numbers bode well for Wisconsin residents, and could mean thousands of dollars in savings on purchase and insurance costs.

The next best used BMW M3 deal can be found in South Carolina, where buyers need to invest around $29,900 on the purchase, with a further investment of 6%, i.e., $1,842 on insurance.

In Indiana, the median price is slightly higher, around $33,990. However, the average insurance for the M3 is slightly lower ($1,794). A buyer has to, thus, spend 5% of the median price on insurance.

If you want to buy a used M3 and live in the tri-state area, your best bet would be to purchase it from Connecticut. The median price is $34,000, while it is as high as $43,999 in New Jersey, and $44,980 in New York. On an average, a buyer would have to spend $2,547 (i.e., 7% of the median price) on insurance in Connecticut, while the insurance average is $2,494 in New Jersey (5% of median price) and $2,102 (4% of median price) in New York.

In Arizona, the median price of a used M3 is $38,898, and the average annual insurance rate is $1,908, i.e., 4% of the median price. In Nevada and Pennsylvania, too, you can buy a used M3 for a median price below $40,000 and get it insured for an average yearly insurance rate of $2,023 and $2,429, respectively.  

Average Yearly Insurance Premium $2,350
BMW M3 MSRP $87,810
Estimated Monthly Income to Afford a BMW M3 Car including Insurance $1,600

BMW M3 - Average Insurance Price by Segment

Male $2,360
Male Married $1,450
Female $1,510
Female Married $1,500
Teenage Boy $4,050
Teenage Girl $1,380

Expensive States for Insuring BMW M3

RankStateAverage Insurance of BMW M3MSRPEstimated Monthly Income to Afford a BMW M3 including Insurance Cost
1 Michigan $3,800 $87,800 $1,620
2 Louisiana $3,700 $87,800 $1,620
3 Oklahoma $3,600 $87,800 $1,620
4 Georgia $3,500 $87,800 $1,620
5 Montana $3,400 $87,800 $1,620
6 Wyoming $3,100 $75,500 $1,390
7 Hawaii $2,900 $93,900 $1,710
8 North Dakota $2,800 $80,800 $1,480
9 West Virginia $2,700 $87,800 $1,600
10 Oregon $2,700 $92,200 $1,680

Cheap States for Insuring BMW M3

RankStateAverage Insurance of BMW M3MSRPEstimated Monthly Income to Afford a BMW M3 including Insurance Cost
1 Maine $1,400 $87,800 $1,580
2 North Carolina $1,600 $83,400 $1,510
3 Wisconsin $1,600 $87,800 $1,580
4 Florida $1,700 $87,800 $1,590
5 Iowa $1,700 $73,800 $1,340
6 New Hampshire $1,700 $87,800 $1,590
7 Ohio $1,700 $90,400 $1,630
8 Indiana $1,800 $87,800 $1,590
9 South Carolina $1,800 $87,800 $1,590
10 Arizona $1,900 $92,200 $1,670

BMW M3 - Remaining States under Study

RankStateAverage Insurance of BMW M3MSRPEstimated Monthly Income to Afford of BMW M3 including Insurance Cost
1 Vermont $1,900 $87,800 $1,590
2 Colorado $2,000 $88,200 $1,600
3 Idaho $2,000 $106,200 $1,920
4 Mississippi $2,000 $87,800 $1,590
5 Nevada $2,000 $87,800 $1,590
6 Washington $2,000 $87,800 $1,590
7 Delaware $2,100 $87,800 $1,590
8 Illinois $2,100 $87,800 $1,590
9 New York $2,100 $87,800 $1,590
10 Tennessee $2,100 $87,800 $1,590
11 Alaska $2,200 $92,200 $1,670
12 Kansas $2,200 $87,800 $1,590
13 Minnesota $2,200 $87,800 $1,590
14 Nebraska $2,200 $87,800 $1,590
15 Utah $2,200 $87,800 $1,590
16 Virginia $2,200 $87,800 $1,590
17 Arkansas $2,300 $87,800 $1,600
18 Missouri $2,400 $87,800 $1,600
19 New Mexico $2,400 $87,800 $1,600
20 Pennsylvania $2,400 $87,800 $1,600
21 Rhode Island $2,400 $86,900 $1,580
22 Connecticut $2,500 $87,800 $1,600
23 Massachusetts $2,500 $89,500 $1,630
24 New Jersey $2,500 $87,800 $1,600
25 Texas $2,500 $88,700 $1,620
26 California $2,600 $82,800 $1,510
27 Kentucky $2,600 $86,000 $1,570
28 Alabama $2,700 $90,400 $1,650
29 Maryland $2,700 $87,800 $1,600

BMW M3 Models Comparison

Model Style Cylinders MSRP Average Premium of BMW M3 models Est. Monthly Income to Afford a BMW M3 including Insurance Cost
M3 2 Door Coupe 8 cyl. $87,800 $2,370 $1,600

BMW M3 vs Mid Size Luxury Sedan Insurance Comparision