i dont know much about frames and stuff, but my experiance has been that if the frame has been AT ALL fucked up the car will never be the same.
my uncle bent the frame on his bmw and the insurance company made him fix it..the car never drove the same and he went down the highway at a slight angle...lol
ive been looking at m3's with light body damage as well, i dunno if its worth it, could come out to be big bux for the body repairs
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