Should I buy '95 540i?

[AlexSp]

Hey guys,

So an opportunity to purchase a '95 540i has presented itself to me at a very moderate cost. It's in excellent condition with a bunch of new new parts replaced old parts including the valve cover gasket, oil pump, possibly transmission (? owner prior to current selling it said it was a new tranny but we aren't completely sure) and others. Each cylinder has 210 psi compression and looks perfect condition by use of boroscope according to owner. He doesn't know whether it is a nikasil or alusil engine. But the car has 150k miles and doesn't have any problems with neither the engine nor the tranny. (Unless there was but was fixed). I have done a lot of research on this model and the problems in the past few days and know a good bit. But I was just curious if any experienced enthusiasts had any advice! I am just debating buying in case it turns out to be a money pit... I am financially limited because I'm still in college, parents can't help out except for the insurance. Any estimate of how much would this car cost to maintain each year? Only estimate I've found is $1000-3000/year which is a little too much for me still in college. Understand it would take the higher octane gas would cost more but it also has good gas mileage so it would balance out as far as how much I'm paying now.

Any advice would be greatly appreciated :D

Thanks

[stoney85]

As with any car that's nearly 20 years old, maintenance history is what you should look for.

Also how long has the previous owner been the owner? Crash history, service schedule etc

Even basic things like drivers seat wear can tell you a lot about how the car was maintained, if its trashed and they don't care, do you think they'll still maintain everything else to a high quality?

Check for oil leaks, check suspension bushes ESP the front end control arms.

What suspension is in it?

Possibly get a PPI done on it, a pre purchase inspection, gives a massive checklist of things to look at, helps with the understanding of the cars condition

[Matt Z]

It depends on 2 things. First, do you truly like older BMW's and e34's in particular or do you just want to be able to say you drive a BMW? Second, what is "very moderate cost"?

[AlexSp]

Moderate cost as in he is asking 3000 but willing to negotiate a little. And no, I don't want to buy one just so I can "say I drive a BMW" I actually like the look of it (don't get me wrong, it would definitely be a positive :D). But, after a month of searching, it's the first car I've found that is actually in pretty good condition that I like and in my price range. I am looking for something more gas efficient than what I have and practical for me. Normally, I would go after the typical Camry, Accord, etc but haven't found any of them for the price range that I'm looking for.

As for first reply, no oil leaks and it's in great condition. The owner took great care of it and did all of required maintenance on it that he knew was a common issue. As for the suspension, I'm not too sure.

Ultimately, after a ton of research, I decided not to get it. Everywhere I turn, it points to high maintenance costs each year. I don't want to have to worry about car payments in college which is why I want a used car. I feel like getting this would be basically the same thing but I would have maintenance costs instead of car payments. Plus, I work at BMW and I was able to ask around about it at work too and they all pretty much said the same thing.

[stoney85]

You work at BMW? And worried about high maintenance costs?
You'd get everything a cost price, have people who are knowledgable at hand, plus they'd be a lot happier to help you out than if you had a Camry.

$3,000 is cheap for how much car you get.

The luxury over a Camry is worth it alone, not to mention the power, the ride quality, interior fitment and so on.

[corcovado]

the ride quality

My 1998 Honda has better ride quality than my 540i. I'm hoping that changes once I pour $1000 and about 20 hours into the suspension... So it depends. You can find a nice reliable Japanese car that will be better than an uncared-for 540i.

[Trasportador]

Agreed

[Trasportador]

My 1998 Honda has better ride quality than my 540i. I'm hoping that changes once I pour $1000 and about 20 hours into the suspension... So it depends. You can find a nice reliable Japanese car that will be better than an uncared-for 540i.

Agreed

[stoney85]

By ride quality, I should say road handling

[cochise325]

And my 1995 525i had way better ride quality than my 2006 325xi Sport Wagon. A little bit more suspension travel goes a long way when the road surface is not smooth. The first time that 325xi hits the bump stops going over broken pavement you have to check your fillings in your teeth. My 525i runs over that same stretch of road without breaking a sweat. Now you track guys can start taking swings at me........

[AlexSp]

You work at BMW? And worried about high maintenance costs?
You'd get everything a cost price, have people who are knowledgable at hand, plus they'd be a lot happier to help you out than if you had a Camry.

$3,000 is cheap for how much car you get.

The luxury over a Camry is worth it alone, not to mention the power, the ride quality, interior fitment and so on.

If I were a full time employee I would do it without hesitation. It's just that I am a co-op. I'm here through december go back to school in January and then work here again next summer and that's it. During that off time, I don't get the same benefits and I go to school 4 hours away. My main worry is upkeep while I'm in school. Plus, I won't really have time to take it out and drive it like I know it needs to be driven. My daily driving would be about 10 miles total if that. I'm just worried it would cost too much to upkeep while I'm still in school. So my question is for anyone with ay experience with this car or E34's in general, how much does it cost to maintain, what kind of maintenance would it require, etc.. I'm more knowledgeable about cars than the average joe and can perform most maintenance myself (parts are still really expensive plus there are specialty tools required) and if I don't know how to do something, I will learn.

- - - Updated - - -

Also to note, i onky have a couple more years of college left. I understand how amazing of a car it is as opposed to a Camry or Japanese car of the same price, I'm just worried about it costing more to maintain than a Camry or Japanese car of the same price. I'm considering just saving my money and keeping my current Blazer maintained until I get out of college but I would love this car haha

http://forums.bimmerforums.com/forum/showthread.php?2115554-Considering-a-540i-need-advice!&highlight=should+buy+540i

This post is what has scared me from buying a 540i.

[ross1]

My 1998 Honda has better ride quality than my 540i. I'm hoping that changes once I pour $1000 and about 20 hours into the suspension... So it depends. You can find a nice reliable Japanese car that will be better than an uncared-for 540i.

Really? Come on, I'm sick of these comparisons.
ANY car's ride or other condition at 20 years old is predicated on prior care. A neglected example of the finest car will be crap if un-cared for.
In top form the 540 will make that Honda look like a booger in every way

[BoldUlysses]

Go find an M50 525i/5 in very good shape. Should be able to score one easily for $3K. Seriously---it will fit your needs perfectly: Most reliable, easiest to maintain E34, mid/high 20s on the highway, fantastic handling and fun to drive. And many power options if/when it comes time to upgrade.

I love the 540i but it's obvious the chassis wasn't originally designed to accommodate the engine; it's a bit of a factory hot rod job. Not saying BMW didn't execute it well---they did---but certain maintenance tasks can be more challenging just due to the fact that the big V8 is stuffed in there.

If you still want a 540i, I know a good local 6-speed car but it's probably a bit out of your price range.

[corcovado]

I love the 540i but it's obvious the chassis wasn't originally designed to accommodate the engine; it's a bit of a factory hot rod job. Not saying BMW didn't execute it well---they did---but certain maintenance tasks can be more challenging just due to the fact that the big V8 is stuffed in there.


This is the exact way I felt yesterday when comparing Bentley instructions for a M60 with all the other engines. It's not even a very good V8, although it could be worse, it could have the timing chain issues of the M62.

[BoldUlysses]

Well the brake booster arrangement is a dead giveaway of the cobbled-together nature of the M60 in the E34. Again--does it work? Yep. But it's awkward.

Disagree with you about the M60 not being a good V8, though. I think it's a fantastic engine; all the engines of its vintage needed an extra 0.5 to a liter of displacement just to match the M60's 282 hp, and it's relatively simple and reliable, too.

[SpeedsterBek]

If I were a full time employee I would do it without hesitation. It's just that I am a co-op. I'm here through december go back to school in January and then work here again next summer and that's it. During that off time, I don't get the same benefits and I go to school 4 hours away. My main worry is upkeep while I'm in school. Plus, I won't really have time to take it out and drive it like I know it needs to be driven. My daily driving would be about 10 miles total if that. I'm just worried it would cost too much to upkeep while I'm still in school. So my question is for anyone with ay experience with this car or E34's in general, how much does it cost to maintain, what kind of maintenance would it require, etc.. I'm more knowledgeable about cars than the average joe and can perform most maintenance myself (parts are still really expensive plus there are specialty tools required) and if I don't know how to do something, I will learn.

- - - Updated - - -

Also to note, i onky have a couple more years of college left. I understand how amazing of a car it is as opposed to a Camry or Japanese car of the same price, I'm just worried about it costing more to maintain than a Camry or Japanese car of the same price. I'm considering just saving my money and keeping my current Blazer maintained until I get out of college but I would love this car haha

http://forums.bimmerforums.com/forum/showthread.php?2115554-Considering-a-540i-need-advice!&highlight=should+buy+540i

This post is what has scared me from buying a 540i.



You already have a chevy blazer and want a 2nd car while still in college? Not a smart move.

I owned 2 cars for a year during college, and even thou I worked close to full time, it wasn't that great. One car always sits and rots while still costing you money in insurance and upkeep.

If you want to minimize your car expenses, then focus on the current car that you have. No need to buy a second car that you don't need but "want".

Even if you replace your current car with an E34, I don't think it'll be a wise move for you. A good E34 isn't necessarily going to be astronomically more expensive to run compared to other cars from the same era. However, a 20+ year old bmw is not a car that I would recommend to a money strapped student

[AlexSp]

You already have a chevy blazer and want a 2nd car while still in college? Not a smart move.


I'm definitely not planning to have a 2 cars while in college. But I am wanting a new-to-me car (something a little more fun to drive and fun/easy to work on and tune and gas efficient. My blazer is becoming a little more of a haslte than it is fun now). Most people I've talked to and forums I've read all seem to point to the same conclusion: don't get it haha Especially after my roommate just bought a 94 740iL with 275k and got it serviced. Tried to charge him 375 for oil change and quick look around at the car as diagnosis. It took 45 minutes to do everything. Not about that life. Plus, he is looking at about 500 dollars to fix his air conditioner himself. Not about that either.

I was only considering it because it was an awesome deal. But alas, decision has been made. On the hunt for something else now. Thanks everyone for your help.

[priler]

some bad advise on that other post in the link. don't get a 540i but do get a GS400? really?

changing the timing belts on one of those Lexus V8s is like a $1500 job at the dealer. ..and it's not something i'd recommend doing yourself unless you have experience. it's not just belts,there's other stuff you need to change at the same time that's the reason for the cost. it's something like a 10 hour job by someone with lots of experience with that engine,that's probably like an entire weekend(or 2) for a willing owner.

i'm not sure which generation V8 on all the GS400 but on the 1st gen LS400(same engine)(90-94 IIRC),if the belt breaks,valves won't touch pistons but on the next generations,yes.


I have no idea why some people recommend Lexus as if they don't have specific issues of their own. I guess it's like my old man sometimes says,create fame and go to sleep. every Lexus has it's own (surprising numerous) specific issues with some similar ones too.

[XCRN]

something a little more fun to drive and fun/easy to work on and tune and gas efficient.

The first one is probably true, but the rest are not true of a 540i.

I am lucky enough to have a little Corolla to borrow from my Aunt while I restore and repair my 525i, obviously not for free (mainly doing work around the house) but it frees up money to work on the BMW.

Or if you are able, consider public transit for awhile. As much as I hated it, it allowed me to work on my old project car for a bit and I did not have to pay insurance, or gas, or even bus fare since the school had a deal with public transit systems.

[Parkypine]

I am in a similar situation as you OP. I bought my 540i/6 beginning of sophomore year in College (which was last year). My parents aren't the richest people so every dime spent on my car came out of my own pocket. I work as a part time server during the semester and full time during the summer. To be quite honest, it is probably one of the worst financial decision you can make as a student, but I went with it anyways since I have a passion for one of these cars. The result? I eat a little less and dress a little shitty, but its all worth it. I would do it all over again if I had to.

BUT if you just want a cool car just for cool points, not really into the cars, then I would tell you to stay clear. These old cars are not easy to maintain. Within a year, maintenance wise, I've done intake manifold gaskets, valvecover gaskets, camshaft brackets (valvecovers bolt onto those and 2 were stripped by PO), door actuators, clutch and rear crank seal. Very time consuming and costly. If you have a true passion for these cars do it. Otherwise buy a cheap Japanese car and call it a day.

I am not sure how much I've spent so far but I bought mine for $4500, and just this summer alone, I've spent about $2500. But thats including many performance parts. Last summer I did all the maintenance, which probably summed around $1~1.5k mark.

Edit: Read through the whole thing after I posted haha

Id say learn to be handy and learn how to take care of one, but looks like you already made a decision. Shame