I currently have a 2010 Laser Blue R56 with about 29,000 with no cost maintenance. It's financed currently, but will be paid off soon. I've always been in love with Electric Blue, but couldn't find one with relatively low mileage when I was looking. We're planning on relocating to Washington soon and there currently happens to be two 2005 R53's in Electric Blue in the Seattle area, both with around 50,000 mi. Am I crazy for even toying with the idea of trading my R56 for an R53?

 

LOL...many have done it....tons back in 2007.....know a few that got gen2 cars..got replacement motors..and traded them in...
Only issue I can see if finding a GOOD ADULT OWNED, properly maintained one...maybe lightly modded or a true virgin!!
Get one that has been flogged....or neglected...will be a money pit...like ANY CAR...
Get a good one...and they are great cars!! Heck...Mine has NEVER spent a night at the shop....I bought new...was delivered Christmas eve 2004.....heck..only went to the dealer 3 times since new..all scheduled Maintenance. Have done a few simple diy things (radiator fan and PS fan)..and had a 3rd party shop do the bushings and struts...that it.....been a great car!!
For those reasons I suggest a 2005+..maybe a late built 2004 if it is the "right"car....
But test drive a few...
There were MANY variations in suspensions...and most modders did there car no favors...there..choosing items that made rides WORSE IMO in hopes of getting better handling..lol...the funning thing is, a STOCK r53 with GOOD factory struts can do more on the track than 80+% of drivers (maybe more) can handle....just my opinion...but coilovers "look" good to a certain crowd.....but cheap ones are all looks...no go.

 

No, do it!

 

The worst thing that can happen is you will make a mistake. That can always be corrected. So many cars, so little time. Good luck