I went directly from a 1997 M3 sedan 5spd to a 2005 RX-8 sport 6spd. It's hard to compare as they are such different cars. The M3 has a lot more room in the trunk/backseat etc but pays for it in the heavier weight (3,200 pounds). The M3 also has a lot more power/torque everywhere and gets better gas mileage. The interior on the E36 is pretty dated and you'll have some small quirks like dead pixels in the obc, radio etc. You'll also probably end up doing some basic maintenance if it hasn't been done (rear strut mounts, rear trailing arm bushings, new radiator, thermostat/water pump)

The RX-8 is lighter and there handles better, brakes on par and any small problems should be covered under warranty. It's much more of a drivers car stock vs. stock and you can toss it around corners easily. It's ok but not as practical as a daily driver/people hauler and the MPG sucks as you probably know. Overall with all things considered unless you can find a really low mileage M3 that has all maintenance records documented for a good price I'd go for a RX-8. You can find one exactly how you like for a good price since the supply far exceed the demand (not the case with a good low mileage M3).

If you're just talking about performance overall it's close. In SCCA autocross classes the RX-8 dominates B stock which is also the E36 M3 stock class. The M3 suffers from not enough front camber due to it's strut suspension design. If you add camber plates it becomes a whole different animal. In STU class (street touring class) the RX-8 gets destroyed by the E36 M3 and Evo etc. Both cars were fun and good at different things but I don't think you can go wrong as long as you pick a good example with maintenance history.

Hope that helps



R comps on dead shocks=lots of body roll

 

i had a friend who had an e36 M3. she tracked it a few times, but was always complaining how expensive maintenance was- brakes, tires, clutch etc. after owning the car for about 5 years she finally decided it was too expensive to keep dumping $ into it.

that's actually why i didn't get a used e46 m3- ie pricey to maintain. BMW= Bring My Wallet (for the M's at least.)

 

Of course, the M3 affords one a bit more status than the RX-8 in most circles. Most of us don't care, but some might want to factor that into the equation. I'd go with the 8, but I've always admired the M3. Nearly bought one a few years ago.