The other question is, what do you want an M40i for…?
Reason for the question is when I had an M40i after around 5 35is’s, I really only wanted it for hooning, the odd trip to the coast or shows etc, but mostly for evening scoots out when the traffic had gone home. They’re a better car in all areas yes, apart from, for me anyway; I prefer the DCT box, there’s a great upshift crack at 4250 revs on the 35, and it feels significantly smaller than the G29 on the road, a big plus. Honestly I got a bit bored of it for what I wanted it for so got rid at the start of Covid, because in between I’d bought a 35i manual high mileage project car, onto which I’ve put coil overs, front and rear H&R anti roll bars, adjustable drop links all round, M3 control arms, some bushes etc, which have transformed it, it feels really quite light, which it isn’t but it feels it, small-ish and nimble. No MX5 of course, but still a great fun car that feels nothing like standard.
I’d love another M40i, and now they’ve finally seen sense and given a full colour range on the manual it’s very tempting, bar the very fat Boxy 4.0 gts fly in the ointment, but that’s for another time…..
My main point here is obvs M40i second hand prices are well into the 30’s now, £35k will get you a very nice one, however, depending on your needs and coin available, and if you’re open minded on modifying, a 35i/s can be made into a very capable car for a lot less outlay, and purely in my opinion, if you just want something for quick fun, I wouldn’t bother with the G29 despite how good they are, they’re just too big and not nimble enough. The other aspect, again for me anyway, is if I went G29 again, I’d have to have a little nimble something to go with it, hence I’m keeping my MR2 in case I get too tempted by a sensible-ish car, but before that I may retire the 35i and swap the suspension goodies to my 35is, see how that fares this year. As, said, depends what you want one for. IMHO anyway….
