Need some advice for first car purchase

[J.DeFeo]

Fellow e34 enthusiasts,

I will apologize in advance for a long post (and for this being a crosspost from another forum), but I would like to lay out my thought process and factors in my life so that I can make a good decision (with the help of random strangers on the Internet).

I'm a 2nd year college student and at the end of the summer, I'm going to buy a car. I need one for a few reasons:

-I will be living in an apartment and will need it for grocery runs among other things. There are no stores within walking distance, and I fear walking around in Worcester, MA (I'm a resident of PA) at night.

-I will have a co-op next summer that almost certainly will not be in my hometown (Pittsburgh) and will need the car to commute to and from the job.

-Since I live so far away, it's extremely hard for my parents to come pick me up for holidays and breaks.

-My girlfriend goes to school in D.C. and I hate dealing with trains and planes.

-I just like cars and my parents have terrible taste . More seriously, my sister is now of driving age and having 2 cars between 3 people gets tedious.

I have a few things going for me that makes this purchase a reality:

-I will be working all summer and will be able to save up around $5000.

-In addition, I have made some smart investments and have anothe $1-2000 to work with. No, I'm not selling a large part of my savings for a car. I plan to replace it next year anyways, adjusted for interest.

-I'm extremely lucky in that my parents will be covering the insurance and my 2nd year of college tuition (my 3rd and 4th years are my responsibility).

Now, here are my criteria:

-Rear wheel drive.
-Manual transmission.
-Comfortable for long hauls (multiple 600 mile treks).
-Sporty enough to have some fun.
-It has to be practical and get acceptable gas mileage.

I pretty much have my heart set on an e34 BMW 525i (that would be 1988-1995). Preferably one from 1993-1995 since it has the updated M50 engine but I would be satisfied with a 1992. I don't really care about dings and scratches and the only people who will be riding in it respect me enough that they won't **** up the interior. In other words, I wouldn't be uptight about taking it to college.

Everything I've read (and it's been a lot) has lead me to believe that the e34 BMWs are very reliable cars, and if taken care of, last a long time. I'm a little worried about maintenance costs, but I've been browsing online parts stores and from what I can see, the only reason BMWs are more expensive to maintain is because mechanics and dealers charge more for labor "just because it's a BMW".

I do have some backup plans in case I decide that this is a terrible idea and my cunning plan has not been thought through; a Volvo 240/242/244/740/940 or if it REALLY comes down to the nuts and bolts a Crown Vic/Grand Marquis/Towncar (I hope it doesn't, because I really want an e34).

So tell me, am I right, or am I crazy?

[632 Regal]

the cost is good, its the maintenance that can kill your savings, i think you should wait, a cool bimmer isnt cool sitting in a shop waiting for funds to get it out.

[Bleeding_Knuckles]

honda

[632 Regal]

fag
honda

[Bleeding_Knuckles]

cheese head
fag

[fujioko]

The E34 is certainly a robust car, however I think it would not be wise to buy a cheap one. You’ll get what you pay for.

I have come to the conclusion that the E34 is 10 pounds of **** in a five pound bag. That is to say the car is loaded with gadgets, modules and gee wiz stuff. The car has a lot of unnecessary junk that could go wrong and would cost plenty to fix.

Worcester is north east and plenty of snow. A front wheel drive would be better suited. Hondas suck because they are overrated and if you buy one locally it will more than likely be a rust bucket.

I prefer the Saturn for Michigan wintertime driving. Its cheap! It gets 38MPG and its CHEAP!. Mine is a basic station wagon (touring) with a five speed and air. Hauls plenty of crap and holds five people uncomfortably.

Never buy an automatic!

That’s my two cents

[SchnellE34]

First off, fellow resident of 'Da Burgh here.

No your not crazy, just young and naive... like I was not long ago.

Have you ever performed a repair yourself on a car? I have found that the routine maintance for these cars is very easy once you know what you are doing (i.e. The Bentley repair manual) and have the right tools. And after hanging around this board for a while even tasks that I thought I would never be able to do myself, I have done and saved a **** ton of money.

Its your decision to buy an e34 or not, but be prepared to spend some money on it. I would buy a good car from a respected person. Minimal owners and service records are a huge plus. Meaning the previous owner took good care of the car. I know there are some people on this board that have the subscription to CarFax and could run some VINs if you need. I'm sure others will have some info for ya. Good luck and let us know what you decide on...

Oh and BTW, Jeff is right Honda's are for people who think they can buy a cheap car and put thousands of dollars into it to make it somewhat comparable to a bimmer. If I ever put a bumper sticker on my car (not likely) it would say 'It's not a Honda, but it'll do'

[J.DeFeo]

Oh and BTW, Jeff is right Honda's are for people who think they can buy a cheap car and put thousands of dollars into it to make it somewhat comparable to a bimmer. If I ever put a bumper sticker on my car (not likely) it would say 'It's not a Honda, but it'll do'

Thanks for the advice so far. I have worked on several cars, and I'm comfortable removing engines and taking them apart, so routine maintenance is not a worrying factor.

If I wanted a FWD econobox, I'd buy one and be done with it.

As for a good previous owner, I don't suppose anyone on this board is planning on parting with their 525 sometime around August 20th? :D

[632 Regal]

be forwarned, rebuilding these engines is a very rare occurence, most time is spent chasing strange suspension problems, and electronics issues. The engines well taken care of run 300k easily. The transmissions are a luck of the draw AND expensive.

[ThoreauHD]

If you were going to look at getting this model car, I would look through these and other forums(bimmerfest.com) for people selling them. I know there are a few for sale now. Search through the forums.

I would recommend you get it from one of these folks because more than likely they have kept the car well maintained. And that is what you will 'need' to make sure you don't end up with a $6000 paperweight.

The rest is a bonus. I wouldn't worry about model or whatever else. I'd worry about the owners full maintenance on the vehicle. At this mileage, some heavy duty things will brake and having the time and money to do it is essential- unless it has already been done. And it sounds like you won't have either.

The miles per gallon on these cars are not terribly good. But the miles do go easily. Don't feel a thing.

If you can't find a car from a forum member, you will be rolling the dice. Carfax report or not. At that point, be ready to trade in your girlfriend for your car. You will have to find time and money somewhere to get the repairs done.

You have good taste, and this car is definitely not a shitbox. It will probably outlast the gas supply. Just make sure that the guy you are buying from is a perfectionist and not a retard/jagoff. An intelligent person that takes pride in their car is worth more than 10 years of maintenance records. You'll find such people on these forums... the intelligent ones, I mean. I think.

[Alexlind123]

Im guessing that since youre posting on this forum, you might have already made up your mind. I dont blame you. Take your time looking for a nice early e34 ('89-~'92 or so) within your budget. Dont buy the first one you see. You will fall in love with the first one you drive. Dont buy it until you drive another and make sure you are making a good choice. Go here http://www.bmwe34.net/e34main/trouble/what_will_break.htm and inspect those things. Look for one with a manual transmission, but because they are rare, you might not want to limit yourself to a manual.

[Zeuk in Oz]

Don't discount the M20 (early 525i) motor out of hand as combined with a manual gearbox it performs adequately and gives fantastic fuel economy.

I would echo the words of ThoreauHD that a good one is worth looking for. I also feel that a car maintained by an enthusiast is the one to go for. Go to Bruno's site www.bmwe34.net and read as much as you can first about what commonly goes wrong and what to look for.

As I am not familiar with your area I find it hard to comment on whether or not a car the size of an E34 is suitable. You might also consider a 3 series with a 4 cylinder engine.

[liquidtiger720]

I might be selling mine at the end of the year...but you are on the wrong coast. hehehe.

That...and I'd strip it of some of the mod's i'vd done. =p

[joshua43214]

When you think you have settled on a car you want, pay the money to have an experienced BMW person look it over. They will be able to spot the common issues right off and know where to look for less common problems. It is money very well spent. Keep an eye out for 535i's as well, you may find a nice one in your price range though it will have somewhat less fuel economy. The drivetrain on any of the 6cylinder models are solid performers and very reliable.

Since you are on a budget, don't even test drive an m5 or a 540i, it will make you drool all over the place and you will sell your mom to buy it. But you will not be able to afford maintainance on one.

[Alexlind123]

When you think you have settled on a car you want, pay the money to have an experienced BMW person look it over. They will be able to spot the common issues right off and know where to look for less common problems. It is money very well spent. Keep an eye out for 535i's as well, you may find a nice one in your price range though it will have somewhat less fuel economy. The drivetrain on any of the 6cylinder models are solid performers and very reliable.

Since you are on a budget, don't even test drive an m5 or a 540i, it will make you drool all over the place and you will sell your mom to buy it. But you will not be able to afford maintainance on one.

A nice e30 might be a very good choice. I would look into them if i were you, maybe a 325is.

[J.DeFeo]

So provided that I have the means/tools to maintain/repair the car (which I do), and I purchase a well-taken care of car, I shouldn't fall into a horrible money pit with no escape, right? I'm not worried about spending money to maintain my car - I see it as a hobby, and I don't mind spending money on things that I enjoy. I just don't want to drive it for 5k miles and have something explode and be out a car AND a bunch of money.

I'll be looking at 525s and 535s, I'll buy the best one I can get for my money. I'm not terribly concerned with mileage, since the car I drive now (a 1997 Toyota Camry, which belongs to my parents) has 75k on it, which averages out to much less than 10k miles per year, and that's with 3 drivers. If the car has another 100k left in it, it will probably last me 10 years.

Electronics don't scare me in the slightest, I'm an EE major and I can solder with my eyes shut. Also I'm not particularly finicky if a few minor things don't work, especially if they're expensive to fix.

Thanks for the help so far, whoever said that I had already made up my mind by posting on this board, you're right - I just want to feel like my mind is in the right direction :).

[ILoveMPower]

Man, drive an E34.

Once you do that, there will be no point to this thread as it seems you already understand the maintenence and whatnot.

[Evan]

Buy a 540... don't waste your time on anything less.

You'll have to adjust your beer budget to allow for higher gas cost

[J.DeFeo]

Buy a 540... don't waste your time on anything less.

You'll have to adjust your beer budget to allow for higher gas cost

As nice as that would be, I have to draw the line somewhere - I simply cannot afford a 540, both because of the price premium they draw just for having a V8 (even with high mileage) and because of maintenance costs. Besides, I'm a firm believer that a BMW should have an I6...so, M5 it is then ;).

[Jay 535i]

Get a 1990 Supra Turbo. It meets all your criteria and will be much cheaper to run than any European car.

An E34 would be a good choice, too, but don't expect it to be worry free. They're worth the trouble, but as a student the trouble-free nature of a good Japanese car can't be underestimated, IMHO.

[Evan]

if you can't afford a 540, you shouldn't be buying an E34. They're a labor of love.. old and expensive to maintain.

What is your purchase price range and what do you expect to spend monthly on upkeep?

[tgrandahl]

I'm in a somewhat similar situation, i live around hartford CT and next year i will be a freshman at RIT 350 miles from home and horrible weather (not that it could get any worse than CT). I have been lucky enough to grow up in a somewhat wealthy family and also an autobody shop. So i have been working on euros science i was 8 and inherited a manual 525i M50 from my parents. I was skeptical about how it was going to work out making trips between school, home, and well canada. I had driven up there twice before once in a minivan and the other actually a civic, the trip i took the bimmer on i fell in love. It does suck in the winter so i would make sure you get some damn good snow tires as i learned the hard way. I would suggest some michelin arctic alpines and i carry a 200lb sub in my trunk.

I have been to wpi a dozen times so i know your area, the winter, the hill. Personaly if you can find one and must have a bmw find yourself a 325ix, its like volvo / subaru meats bmw. Ive only driven one once and im not sure how an e30 takes the miles and whatnot but the 4wd in your area could probably justify it.

I love my car and besides the lemon transmission its going to make my next 4 years allot easier. Good luck

~Tyler

[J.DeFeo]

As I said in the OP, I'm looking to spend between 4-5k. I have another 1-2k set up for 9 months of maintenance (after that I will have a full-time salary). Is that optimistic, will I need more? This is really what I want to know: how much, in $$$, is it going to cost to maintain an e34? Again, I don't mind spending this money - it's fluid, and is not going to effect my ability to pay for living/college tuition.

I would have separate snow tires for winter. AWD, FWD, RWD: none of that matters if you're running all season or sport tires. Personally I think AWD is very overrated for winter driving, and in my experience leads to overconfidence and consequently trouble. Also the price premium the 325ix gets is absurd and not worth the (please don't kill me) rather poor AWD implementation.

This is a good discussion, I really appreciate everyone's comments.

[tgrandahl]

well in the past 9mo i have needed more than usual and im still under $2k but that is without labor. I got a new clutch ,coil packs and fuel pump relay in the fall and a new tranny soon. The coil packs were expensive but could have been prevented if i had noticed my valve cover gasket was leaking. Im hoping im at the end of the breaking period now as i wont be able to work on it as easily when im at school. But anything that is on the list Alexlind123 posted is fair game. So to answer your question i would say $1-2K a year is enough if your comfortable with \ doing your own work.

[onewhippedpuppy]

I'm in the same boat, a college student on a limited budget with an E34. It's doable if you DIY, and you seem to have the finances worked out. $5k will buy you a very nice 525, and if you get lucky you can find 535s in that range as well. $1-2k should be just fine if you buy a good one, follow all of the previous comments about records and inspections. Nothing more expensive than a cheap German car, but you're in the right range for a good one.

When the time gets closer, check major forums, consider posting wanted to buy in the relevant areas. Bimmerforums, here, Roadfly, Pelican, bimmerfest, BMWCCA, etc. As has been said before, enthusiast owned is your best bet. These cars are cheap enough that everyone can afford them, but few care to take care of them. Plus, an enthusiast owned car may already have some tasteful mods done to it, saving you the time and money.

[Evan]

a radiator is $200... a fuel pump is $250... etc etc

You've obviously decided to buy it before you asked our opinions.

Find a good one and go for it!

[onewhippedpuppy]

Here's a great example of a car in your range. Awesome condition, great mods.
http://bimmerforums.com/forum/showthread.php?t=533452&highlight=535i