Dan Wheldon was having a banner year in 2005. He won the Indy 500. He drank the milk. He took the championship.
Getting his face cast in sterling silver for the Borg-Warner Trophy is prestige enough. But some drivers want something more tangible. Wheldon chose a car.
A 2006 BMW E40 M3 with a Dinan S package just hit Bring a Trailer. The provenance is clean. The spec is obsessive. And the previous owner was a two-time race champion.
A Goldilocks M3 with a champion’s touch
The E46 generation sits in a strange spot in BMW lore. It isn’t the rawest DTM homologation special of the first gen. It isn’t the massive V8 monster that came later. It is the middle ground. Many fans argue this is the sweet spot for handling and daily usability.
This specific chassis comes from the final year of production. That usually commands a premium. But the details here elevate it further.
It features the Competition Package. You get the stiffer suspension and the 19-inch forged alloy wheels. The look is aggressive without being loud. The transmission is a six-speed manual. In an era when sequential gearboxes and early dual-clutches were getting clunky, a traditional H-pattern stick shift feels like a luxury item now.
The engine remains the naturally aspirated S54 inline-six. 3.2 liters. Revs to 8000 RPM. Smooth. Screamy. Reliable if you change the oil.
Dinan tuning: The subtle boost
Enter Dinan.
This car came fitted with their S package. We are not talking about full-on BMW M5 power here. This is calibration and breathing. Dinan tuned the ECU, installed an intake, and added an exhaust system.
Peak horsepower jumps to 355. Torque sits at 281 pound-feet.
The numbers look modest on paper. The difference is in the sound and the throttle response. That inline-six uncorks in a way the stock exhaust mutes. You likely will not drive this car with the windows up.
The mileage is 78,000 miles. That is reasonable for a car this old. It is driven. Not garage-queen still. But maintained.
Carbon Black and brown leather
The paint color is BMW’s Carbon Black Metallic. It is tricky in photos. In person, it reads as a deep, midnight blue-black. It shifts in the light. Golden hour makes it look expensive.
Inside, you get the rich brown Nappa leather. The headliner matches. This color coordination signals a careful owner. Or a rich one. Likely both.
The controls are physical. No tablet screens. No confusing touch interfaces. BMW promised one button on the steering wheel and meant it. You still get the Harman Kardon sound system and navigation, but the vibe is analog. It is a driver’s cockpit.
The Indy connection
Wheldon’s ownership adds a layer of mythos. He was not just a celebrity owner. He understood performance. This car reflects that mindset. It is fast but refined. It has the weight and balance of a proper sports coupe.
Does this make it the best E46 M3 ever made? Subjective. Does it make it one of the most desirable right now? Absolutely.
Collectors are hunting for clean, unmodified E46s with the right packages. The Competition Pack is popular. The manual gearbox is essential. The Dinan upgrade offers a middle path—more power, less risk than a full build.
The auction closes on July 22. The market for these cars has been cooling slightly, but top-tier examples rarely dip. A race-winning provenance with a tasteful spec sheet usually insulates a car from market swings.
You won’t just be driving a fast BMW. You’ll be driving a piece of IndyCar history. And you can still drink the milk.
