Like Mercedes-Benz's C-Class and Audi's A4 models, the BMW 3-Series is the brand's bread and butter profit-wise. And, like the C-Class and the A4, the 3-Series is the Bavarian company's biggest selling platform. So any time an all-new 3-Seies comes along, you better believe it's a high stakes roll of the dice for BMW.

Most recently, that happened in February 2012 when the new F30 was launched here.

The F30 also introduced us to the concept of a four-door sedan carrying the 3-Series tag and a coupe using the 4-Series nomenclature. And now that the car has entered its fifth year on sale in Australia and has just been given its most recent facelift, early versions of the F30 are hitting used-car yards in decent numbers.

The truth is that, unlike the bigger 7-Series, there has always been a fairly healthy demand for used 3-Series BMWs, so don't go out expecting to grab a bargain. But if you do find the right car, you'll be buying a pretty high-end product with some real class, good build quality and the sort of driving dynamics that only rear-wheel-drive can provide.

Regardless of whether you buy the 3-Series sedan or 4-Series coupe, the mechanical specifications were more or less the same. So your choice was based on whether you wanted the practicality of the four-door or the svelte looks of the coupe. If you don't need a proper back seat, our money is on the sleek-looking two-door every time.

The 3-Series kicked off with a model called the 316i which got a 1.6-litre turbo four-cylinder and then moved up to a 320i and a 328i. Both those cars used a 2.0-litre turbo engine with more boost in the 328i for a lot more power and torque. The range-topping petrol variant was the 335i with its 3.0-litre turbocharged inline six-cylinder and 225kW of power. A pair of turbo-diesels were also offered; both 2.0-litre engines with the tuning varying the output from 105kW to 135kW.

The diesel engines are fine, but the sporty overall feel of the car deserves a revvy petrol engine, for our money. With that in mind, the 316i was underdone and the six-cylinder was brilliant, but remains an expensive way into 3-Series ownership.

That leaves the pair of 2.0-litre petrol cars and while the 320i does the job, the 328i version has surely one of the most balanced, flexible and entertaining turbocharged four-cylinder engines around. It's a beauty and would be our pick every time. Teamed with BMW's then-new (and still excellent) eight-speed conventional automatic transmission, it was a proper treat and, for the first time in 3-Series history, made the six-cylinder version seem a bit of overkill.

Beyond that, there was a choice of trim levels and options, but make sure you know exactly what a particular car is fitted with, because those factory options were pretty pricey when brand-new and can have a big effect on the asking price today.

The one option really worth every cent a seller will ask for it is the adaptive damper package. By allowing you to tailor the car's damping characteristics on the fly, the car is a much happier machine over typically lumpy Australian roads.

The range itself was a pretty complex one, so you need to navigate your way through BMW's various names for different models. Essentially, you had the Sport Line, Luxury Line, Modern Line (which juggled trim and some equipment to offer a different look and feel across the line-up) as well as the M Sport package which injected a sportier flavour via firmer suspension, lighter alloy wheels and a body kit as well as some interior pizzazz.

For all the car's appeal, initial sales were a bit slow and BMW moved quickly to give the car a shot in the arm. That happened in early 2013 when the lower-spec cars got sat-nav as standard and the 328i got internet connectivity and a touch-screen to compliment the iDrive system. Launch control was added to the range as well, although the importance and relevance of that is lost on most second-hand car buyers.

When shopping now, a fully-stamped service history is vital. These are complex engines and only regular and appropriate maintenance will see them go the distance as well as protect any factory warranty that might be remaining on newer examples.

The biggest potential for financial grief down the track is the variable valve-timing mechanism (VANOS, in BMW-speak) which is vital to the engine's efficiency and performance but can suffer if that maintenance has not been observed.

The tiny oilways that help make up the VANOS system can become clogged with dirty oil and this will not be cheap to put right. In fact, early-build 3-Series with the six-cylinder engine were actually recalled over VANOS issues.

It seems the oil-feed line to the VANOS unit on these engines could become loose, leading to a loss of oil pressure and sending the car into limp-home mode. And you won't see a tell-tale oil leak from the loose fitting, because it was an internal leak that caused the dramas.

The other recall was for cars with a late-November 2012 to late July 2013 build-date and concerned the brake booster system. According to BMW, a lack of lubrication in the booster's vacuum pump could lead to a loss of braking assistance. The brakes would still work, but would require a much bigger push on behalf of the driver.

Our rating: 3.5/5

Nuts and bolts

Engine/s: 1.6-litre four-cylinder turbo/2.0-litre four-cylinder turbo/3.0-litre six-cylinder turbo/2.0-litre four-cylinder turbo-diesel

Transmissions:  eight-speed auto

Fuel economy (combined): 5.4L/100km (316i)/6.0L/100km (320i)/6.3L/100km (328i)/7.9L/100km (335i)/4.5L/100km (320d)

Likes:

• Looks good; modern and sporty
• Neat, ergonomic interiors.
• Inline six is a boomer.
• Two-litre in 328i tune also sparkles.

Dislikes:

• Expensive thanks to high demand.
• Cars without dynamic dampers can ride harshly.
• Watch out for worn interiors.
• Complex engines need their maintenance.

Competitors:

Mercedes-Benz C-Class – The superseded C-Class from Benz is emerging as one of the all-time great compact luxury cars. Diesel option is good and second-gen cars have a much improved interior. 4/5

Audi A4 – Audi did the previous shape A4 a huge favour with its new model by making them look very similar. Logical, crisp interiors combined with the option of all-wheel-drive make for a good package. 3.5/5

Lexus IS – The Japanese alternative is beautifully built but seems to lack that dynamic spark that is one of the main drawcards for the Euro contenders. A safe bet, however, and good value now. 3/5

What to pay (courtesy of Glass's Guide):

Model     Year          New      Now

316i        2013       $50,990   $24,100

320i        2012       $57,600   $24,200

328i        2012       $64,600   $28,600

335i        2012       $91,900   $41,500

320d      2012       $60,900   $26,600

316i        2014       $52,300   $28,600

320i        2013       $58,600   $27,700

328i        2013       $65,600   $32,300

335i        2013       $91,900   $46,800

320d      2013       $60,900   $29,900

316i        2015       $52,800   $38,200

320i        2014       $60,000   $33,300

328i        2014       $68,900   $39,100

335i        2014       $93,400   $57,700

320d      2014       $62,300   $34,900

320i        2015       $60,500   $44,700

328i        2015       $64,900   $51,300

335i        2015       $93,900   $69,400

320d      2015       $62,800   $46,500