Thanks for ALL your comments, including yours UKM5!!
Yes I did pay £350 for it, but it was off a mate of a mate, who needed cash quickly for a holiday. Prior to him owning it, I beleive it had been stood for over a year, and so could definitely do with some TLC.
The only rust is at the bottom of the drivers door, where I believe is extremely common, and a small spot just below the petrol cap. Yes, the boot lid is an eye-sore, and I do intend to replace it - but I want to find another in the same colour, because I am too poor to get one sprayed!!
As for the grille - the guy I bought it off sprayed it, thinking it looks cool. I dont mind it, but it would look better if the rest of the chrome was blacked out as well...
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The photo's were taken up on Dartmoor, and obviously I live in Devon, which is mainly sh1t covered roads, and fields, so it can be quite hard work keeping it clean for longer than 2 days!!
The engine is solid - doesn't smoke/burn oil, still pulls like a train, and sounds like a beast. I have had it up to 140mph, and I can't feel any of this "shimmying" I hear you all talking about...
Interior wise, I don't know what colour you would call the leather - I call it , wcream, but it does need a clean, but there are no holes, and the drivers seat is barely worn. All electrics work, except the fan, which is either off, or full blast, and the air con, which is the old type, but living in England, I have no need for it! Oh, the instrument cluster is tempramental, and the LKM needs fixing/replacing cos driving at night is like driving in a disco!!
The reason I bought this car originally was because my old car's MOT was running out, and there was no chance it would get through, so I just needed a cheap car, quick.
I've never owned a BMW before, but now I have a 5er, I am hooked!!! I never realised how nice to drive these cars are, and what a wolf in sheeps clothing it is!!!