Thinking about a project 535i - is this a good deal?

[supark]

I'm looking at an automatic 89 535i with 225k miles that someone is selling for $1000. I've checked out bimmerforums and www.bmwe34.net and it sounds like it's only midway through the engine's life.

Reason why it's so cheap is that the tranny needs replacement or service - it only has reverse and goes into neutral in other drive gears. It also needs paint on the hood, front right quarter panel and bumper, and has a few minor things that need maintenance (valve cover gasket, power steering reservoir hose).

I talked him down to $900. The engine runs well - though there does seem to be some sort of high-pitched bearing noise around the alternator/fan clutch. Otherwise it's very clean inside and out - with the exception of the panels that need paint.

What do you guys think?

[Kalevera]

Sounds like my car in November 04.

Unless there are records, or you have ~ $9100 in cash to dump into it, I'd run in the opposite direction.

Fritz is just getting to "mechanical reliability", after replacing the brakes, cooling system, refurbishing the interior, numerous other little parts, and the auto trans TWO times (second time was under BMW warranty, first time at a cost of $2400), and I haven't even begun to address the cosmetic issues.

So, if you're looking for a project, then it may be a good deal; if you want to make it "perfect" (depending on your definition of 'perfect'"), expect to sink around $9100 into it. Note that I do about 90% of the work on my car, and it will still cost me $10k to get a "perfect" e34.

Otherwise, save yourself the money/hassle and buy an already perfect e34 from someone on the board at around $6000 or less.

Body work is expensive if you can't do it yourself. EDIT: (unless you can...)

Finally: the M30's achilles heel is the head gasket. Check to see if there's coolant in the oil or vice versa.

Best, whit

[supark]

Hmmm - wow $9k and you did most of the work yourself?!!

I do wish now that I'd taken a look at the coolant to see if there was any oil in it and checked the oil for coolant.

I found an 89 tranny for $300 with 90k miles on it and a 91 with 15k (certified factory reman) for $500. Though I have heard that only particular trannies will work with the 89 - so I may have to get the 89 one if I end up getting this project...

I'm not concerned about making the car perfect - just a decent daily driver. I can do pretty much all the work it needs by myself - so I'm not too worried about that. I just don't want to buy a car that will die 2 months after I get it...

Hmm - maybe I should just stick with my E36 and find a basket case harley to tinker on instead..

[Derek A.]

If you can't drive this thing down the road to assess its value stay away. I would bet that not including the tranny you could spend an east $3k just getting the thin road worthy and safe. Its one thing to find a gem with a bad tranny - this one sounds a little rougher.

[Robin-535im]

It varies a lot depending on the history of that particular car, but in general these things are tanks and can withstand alot of abuse.

I think it would be a lot of fun, and you can probably end up with a nice daily driver for a few more $k. Getting it perfect could be another $5-8k, (without a paint job) but you could get there in stages.

If you're mechanically inclined (and it sounds like you are) I think it would be a fun project. Maybe swap to a 5-speed since the tranny is suspect, rebuild the tranny yourself and sell it to pay for the conversion.

- Robin

[liquidtiger720]

how much would a head gasket fix cost for the non-DIYer?
I ask because I too see a 535i project car :). afaik the car needs a new head gasket and nothing else...the car already has headers, dinan chip, h&r springs, and bilstein shocks, which means...it probly has been driven hard =,(

[632 Regal]

bumper and front fender...it dont take much to officially total one of these things. 900 is a good price as long as you plan on parting it out if it doesnt pan out. There sounds like a lot of issues with this car, trans being the main one but if you can pop another trans in so be it. There are rare finds out and about but that dont sound like one of them. The 10k figure is about dead on for E34s in good condition. Pay 1000 and dump in 9000 to get it right or 5k to dump in 5k or buy one already done for 8-10k and still plan on some more to polish the package up. If you skip a decent paint job you will have saved 2500-3k so its possible.

Good luck and keep us posted!

[supark]

Hmm - the general consensus is that this car isn't a deal - and after a day to think it through, I'm inclined to agree.

Decided that I'm going to do an auto to manual tranny swap on my 325is instead.

Thanks for all the info