Considering an E38, 2001 740il. Couple of questions for owners

[ndc44]

I found an E38, blue 2001 740il with 108k miles. It presumably has the M-sport package (black exterior trim, Mpars) but does not have the M-sport 3-spoke wheel that I have seen in most sport package 740s. It also has EDC which the owner says was an uncommon feature.

The price is $8k. It just had the timing chain rails, cooling and AC compressor replaced. The owner is actually a BMW repair shop owner so he did the work himself. Because of this, I don't really know whether or not to trust him since there are two ways a mechanic-owned car can pan out... He said he fixed it for himself and then changed his mind and decided to sell it.

I will test drive it soon but the exterior is in nice condition except some of the window seals are cracked/flaky. The interior is good, although the wood trim on one of the door panels has cracked (but still intact).

Question 1: Does it actually have the sport package if the wheel is not 3-spoke? It has (seemingly) all the other options that come with the sport package.

Question 2: Is it worth purchasing at $8k, all things considered? My alternative is to spend ~15k on a newer 3 or 5 series but the 2001 740 just really strikes a chord with me...

[clarkitect]

Sport package on the il did not include the three spoke steering wheel, sport suspension, or 3:15 rear. It was basically an appearance package that included the shadow line trim, vavona wood, Mpars, and also the EDC suspension. Based on what you're saying, and absent some real service history and pix, $8k seems high. I'd keep looking.

[daytonatrbo]

If the guides and cooling system have been done, the only other thing that is likely to need work is the suspension.

But 8k is high. Maybe 5-6k would be worth in on that car if its clean.

[Lamer321]

go for a Pre Purchase Inspection at a DIFFERENT foreign auto shop, dont let the seller recommend one to you either. I did that with the 740il that I am buying and it really made me 100% comfortable with buying the car.

Probably priced as $8 becuase the mech bought it for $5,500 and is trying to make a little after buying all of the parts he replaced on it...

[ndc44]

go for a Pre Purchase Inspection at a DIFFERENT foreign auto shop, dont let the seller recommend one to you either. I did that with the 740il that I am buying and it really made me 100% comfortable with buying the car.

Probably priced as $8 becuase the mech bought it for $5,500 and is trying to make a little after buying all of the parts he replaced on it...

That's the way he explained it.

Turns out the car actually has 119k miles (not 108 as advertised), an extra owner he didn't mention and apparently it is not registered (no plates) so I cannot drive it to a shop to do a pre purchase inspection unless I have it towed or something. The report is clean, no accidents and regular service (until he started doing his own). This is starting to feel kind of shady though...

Pass? There are lower mileage options available but they are 200 miles away, this is the only reasonable local listing and the condition of the exterior/interior is really nice.
On the other hand, he is the shop owner so I figure he wouldnt want bad rep from a bad sale... idk...

[dannyzabolotny]

The guy is asking way too much for it, plain and simple. A 2001 740i with 119k miles is not worth more than $6k. It's a 15 year old car at this point that will still need work done, even if some stuff has already been taken care of.