The BMW M340i and M340i xDrive are fan favorites that recently received some significant upgrades for the 2023 model year. For the past (almost) year, dealers received them from the port, and happy customers have started taking delivery. With the exciting debut of the LCI, pre-LCI models have started to – slightly – drop in price. While most are certain that a BMW with a turbocharged six-cylinder engine is rarely a bad idea when you’re sitting in the driver’s seat – will your wallet agree?
Here, we’ll take a look at what kind of long-term reliability the M340i and M340i xDrive might provide drivers with, as well as a quick look at what kind of value a new – or used – M340i might provide.
BMW M340i: Long-Term Reliability & The BMW Tax
I owned a 2021 M340i xDrive for a little over a year, putting nearly 10,000 moderately abusive miles on it. I’m happy to report that the engine never indicated anything out of the ordinary. The B58 engine under the hood has been lauded over the years, first appearing in 2015. It’s a considerable improvement over the previous N54 and N55 engines and won’t disappoint. While naysayers have regularly chanted that “it’s too early to tell,” we are now nearly ten years into the engine’s lifecycle, and I feel comfortable saying that a well-maintained B58 engine – such as the one found in the M340i – will serve owners of both new and used vehicles well. There’s a reason Toyota was okay with stuffing it under the hood of the new Supra.
The only caveat I’ll stipulate regarding maintaining your M340i is that parts will still be more expensive than you’re used to if you come from a brand like Toyota or Ford. The BMW tax is still very much in play here – so be ready.
Evaluating the M340i: Electronics Issues
In my year-long tryst with the M340i – purchased new – I did run into some minor electronics problems. My parking sensors occasionally encountered ghosts and loudly proclaimed that I was, apparently, hitting them. The My BMW App integration and login process occasionally desynchronized, which would be only a minor inconvenience (and has probably been resolved by now). It required me to log in again – just a few minutes of my time, but annoying, nonetheless.
Long-term reviews that put significantly more mileage on the vehicle have noted issues such as incorrectly opening and closing active grilles and minor climate control foibles caused by a malfunctioning baffle. So while I wouldn’t say that the electronics are a weak point of the M340i, it’s something I would closely evaluate before purchasing a vehicle.
Value: Finding the Perfect M340i at the Perfect Price
The least expensive example of an M340i that you can purchase today is listed for $30,588 on Autotrader. It’s an outlier, but others are listed in similar condition with much fewer miles around $40,000. For a car that was $60,000 just a few years ago, it’s a little surprising. My initial hunch is that the hot used car market is keeping these desirable vehicles at higher market value than usual. Regardless, you’d have to be blind not to see the value of a 382-horsepower monster like the M340i at $40,000.
Of course, with the facelift for 2023, a new M340i might just make more sense. Especially if you want a unique color or hard-to-find spec. The curved display inside and cosmetic enhancements outside make for a compelling value. Especially if you like knowing a vehicle’s history – since there isn’t one until you drive off the lot. Base MSRP is $56,400 for the rear-wheel drive one, so going easy on the options could net you something pretty compelling for under $65,000 after taxes, fees, and what have you.
Verdict: Buy Used When You Can
I would have no issues or reservations about picking up a lightly used M340i or M340i xDrive. As long as a visual inspection and test drive reveals no surprises, I’m confident enough in the chassis, powertrain, and electronics to take the risk and save $10,000-$15,000.
Of course, that might not work for you for a variety of reasons, but that’s my recommendation. It might be hard to find if you’re searching for a particularly well-equipped (or sparsely equipped) car. Likewise for colors that were either only released for the 2023 model year or are hard to find (like the rare Oxide Grey). It should be noted that you can’t go wrong with the M340i – no matter how you choose to buy.