Thinking about getting out of my E38 for an E34

[burninator]

Hey E34 guys, I have an E38 740i that I absolutely love, and I don't even want to imagine life without it. But I'm trying to lessen my expense at the moment, and I'm really considering going to an E34. I've found two in my area with pretty low miles, and either one would save me about $1k a year on my insurance. I know 525's are bulletproof, but I am addicted to V8's, and am kinda leaning towards a 530i. Any ideas suggestions are welcome.

The 525: http://www.autotrader.com/fyc/vdp.jsp?car_id=235476995&dealer_id=55991732&search_type=both&distance=100&address=03885&style_flag=2&make=BMW&model=525I&make2=BMW&model2=530I&make3=&start_year=1989&end_year=1996&min_price=&max_price=&transmission=&engine=&drive=&doors=&fuel=&max_mileage=&color=&keywords_display=&certified=&advanced=y&default_sort=priceDESC&keywordsrep=&keywordsfyc=

The 530: http://www.cars.com/go/search/detail.jsp;?tracktype=usedcc&searchType=22&pageNumber=0&numResultsPerPage=50&largeNumResultsPerPage=0&sortorder=descending&sortfield=PRICE+descending&certifiedOnly=false&criteria=K-%7cE-%7cM-_5_%7cH-%7cD-_36_%7cN-N%7cR-100%7cI-1%7cP-PRICE+descending%7cQ-descending%7cY-_1989-1990-1991-1992-1993-1994-1995_%7cX-popular%7cZ-03885&aff=national&paId=237394646&recnum=0&leadExists=true

Also if anyone wants to run a carfax on these, I wouldn't mind :)

[Binjammin]

Well, doing a little poking, that second ad is listed in Boston, and the guy's listed as a dealer. The address is just off Revere Beach Blvd, and the address is listed in a condo for sale. I wouldn't go there after the sun goes down, unless you want to live in what's basically a Microcosm of NJ stereotypes mixed with Boston misfits.

The car doesn't look terrible though. What's wrong with the e38? Those things are teh hot.

[burninator]

Well, doing a little poking, that second ad is listed in Boston, and the guy's listed as a dealer. The address is just off Revere Beach Blvd, and the address is listed in a condo for sale. I wouldn't go there after the sun goes down, unless you want to live in what's basically a Microcosm of NJ stereotypes mixed with Boston misfits.

The car doesn't look terrible though. What's wrong with the e38? Those things are teh hot.
Absolutely nothing wrong with it, it's the love of my life. But it's got 114k, and is already a bit expensive to run. I'm just trying to clean up my expenses a bit, while keeping a roundel on the hood. I'm also thinking the 7 is gonna need some transmission work soon. Anyone have an opinion on 530i vs. 525i? More power and a v8 would be prefferable to me, but I'm looking for some owner experiences so I get something I'll want to stick with for a while.

[andrewcconti]

Serviced regularly at BMW norwell ....

Might be worth looking at.

No affiliation just ran the number.

other one I have no idea no number to check.

[zubbie]

Is an E34 gonna be any less expensive to run than an E38? Gas perhaps, unless you get the 530i which gets about the same mileage as a 540i. Less electrical issues (but not by much I would guess) and the E34 will be older with all the wear stuff due to be replaced.

A late 525 manual (M50 motor) would be my suggestion for frugality or a touring for practicality and style.

[burninator]

Is an E34 gonna be any less expensive to run than an E38? Gas perhaps, unless you get the 530i which gets about the same mileage as a 540i. Less electrical issues (but not by much I would guess) and the E34 will be older with all the wear stuff due to be replaced.

A late 525 manual (M50 motor) would be my suggestion for frugality or a touring for practicality and style.
Well the payments would be lower, and the insurance, so that's about $2k less per year at least. The E38 hasn't been too bad to run, and I average about 21.5mpg on 93. Also, I'll bet the electrical issues on an E34 are far few than on an E38.


Serviced regularly at BMW norwell ....

Might be worth looking at.

No affiliation just ran the number.

other one I have no idea no number to check.

Not sure if you are interested in a Touring? I have a 1995 525iT cashmere beige/tan leatherette, no sunroof touring,traction control, late build, all original keys. I will be selling in the next month or so. 1 owner, (before me) clean carfax, 171k, no accidents, no rust, straight panels, will need typical maintaince items but transmission is smooth and engine runs 100%. I will be asking in the $3,xxx range for the touring.
Honestly, I would prefer a touring, I just don't like beige cars, sorry :(. Also looking for something with far lower miles than mine has, becuase I plan to keep it for a long time. I understand that lower miles doesn't necessarily mean less maintenance.

[burninator]

I should add that I worked for Bavarian Autosport for a while, and both my father and I buy our parts from them (he has an E46 M3), so I get a pretty good discount on all my stuff, and don't have to look too hard (or drive to far) to get parts.

[andrewcconti]

Cashmere GOLD! LOL

[kalevera]

E38 740s are cheap enough (and depreciating so fast) that it doesn't make much sense to sell one, if you like it, to buy an E34. The E34 and E38 have almost completely different driving experiences.

Having said that, I'd buy the 525 over the 530 any day.

The 530 automatic is lethargic, at best. It's terribly slow, V8 in name only. Next to the M20 automatic 525, it's just about the slowest E34 you can buy in the states. Secondly, as that car is listed as having 50k miles, it likely has a nikasil, and personally, you couldn't pay me to take a nik car, as they're still failing. If you can hedge the prospect of having to replace the engine, then it might be an option.

How is it possible that switching from an E38 to an E34 is going to save you 1k a year?

[Monastie]

Why not a 535i, you'd have power and reliability.
Or even a 540i (Isnt it the same engine you already have)...

Then again, if I was in your shoes I'd keep the 7'er :), you know exactly the maintnance that it needs, while buying a new car is more of a risk.

[burninator]

E38 740s are cheap enough (and depreciating so fast) that it doesn't make much sense to sell one, if you like it, to buy an E34. The E34 and E38 have almost completely different driving experiences.

Having said that, I'd buy the 525 over the 530 any day.

The 530 automatic is lethargic, at best. It's terribly slow, V8 in name only. Next to the M20 automatic 525, it's just about the slowest E34 you can buy in the states. Secondly, as that car is listed as having 50k miles, it likely has a nikasil, and personally, you couldn't pay me to take a nik car, as they're still failing. If you can hedge the prospect of having to replace the engine, then it might be an option.

How is it possible that switching from an E38 to an E34 is going to save you 1k a year?
Because I'm locked into a $11K loan, so dropping down to a $7k loan would save me a lot of money. And although I only have one accident and no tickets, which is almost off my record, my insurance is still a bit high because I'm 20. So the change in vehicle alone (with insurance) would save me about $2k a year. And that's not including gas. With the F01 coming out this year, if I'm gonna get out of my E38 it would be better to do it now than later. I'm definitely leaning towards that 525, I'm probably gonna go look at it tomorrow.

[burninator]

Why not a 535i, you'd have power and reliability.
Or even a 540i (Isnt it the same engine you already have)...

Then again, if I was in your shoes I'd keep the 7'er :), you know exactly the maintnance that it needs, while buying a new car is more of a risk.
I've only had the 7 since October, and it's been running great, but the transmission is most like gonna need work soon, and I don't have any service records. The 525 was serviced at the dealership since new, and is a one owner car. I'd be interested in a 535i or 540i, i just haven't found one yet, still looking.

[Binjammin]

Is an E34 gonna be any less expensive to run than an E38? Gas perhaps, unless you get the 530i which gets about the same mileage as a 540i. Less electrical issues (but not by much I would guess) and the E34 will be older with all the wear stuff due to be replaced.

A late 525 manual (M50 motor) would be my suggestion for frugality or a touring for practicality and style.

+1, but seriously, you may well be better off hanging onto the e38. You're talking about buying an older car, finding one with less mileage will be a serious chore, and if you do you'll pay a major premium for it.


I should add that I worked for Bavarian Autosport for a while, and both my father and I buy our parts from them (he has an E46 M3), so I get a pretty good discount on all my stuff, and don't have to look too hard (or drive to far) to get parts.

Nice, looking forward to Show-n-shine again this year.

[Binjammin]

F01?

[burninator]

+1, but seriously, you may well be better off hanging onto the e38. You're talking about buying an older car, finding one with less mileage will be a serious chore, and if you do you'll pay a major premium for it.
Did you click the link? I already found one that's 25 miles from my house, $8k, 64k on the clock, and a clean carfax.



Nice, looking forward to Show-n-shine again this year.
Me too, one of my favorite days of the year :)

[burninator]

F01?
New 7er, successor to the E65

[Binjammin]

New 7er, successor to the E65

So you're getting out of your $11k loan in order to get into a car that's going to start out at like $95,000?

:confused

[burninator]

What are you talking about? I'm saying that the new car is going to drive the value of my car further south. Thats why I want to get out of it now before its worth less than an E34.

[Binjammin]

What are you talking about? I'm saying that the new car is going to drive the value of my car further south. Thats why I want to get out of it now before its worth less than an E34.

I see where you're coming from, but I don't think you'll have to worry about your car depreciating more than an e34. It's newer, it has less average mileage.

Unless you're saying the e34s aren't holding their value like they used to, in which case you're correct in that regard too.

[burninator]

Well in any case, the car would have less miles, save on gas, payments, and insurance. I know my car is gonna need trans work in the next 5k miles or so, and that's just really not something I have the time or money to deal with. I could also dress up the five right away, since I have my OEM M-Pars sitting in my basement, waiting for new rubber. I'd also sand off the chrome windo trim and go shadowline.

[HausBimmer]

Do your self a favor and get a 94 or 95 525i w/ a 5 speed manual trans. Cheap to keep and easy to fix, most in Northern climates have heated seats, upgraded interiors and traction control. The engine and trans. are very dependable (actually not my favorite Getrag trans) and it and the e36 are the last of the service at home BMWs.

[Qsilver7]

Having both a 97 e38 and 95 e34 (my daily driver)...I can say that the 95 e34 (if in good condition) will lower some of your automotive expenses.

The M50 is a pretty good little engine...but by no means is it the car that your 99 740i Sport is. Around town you will probably have some withdrawal to deal with...but on the highway...the M50 e34 is a really good little highway cruiser (you may be pleasantly surprised by its highway responsiveness).

The 95 e34's interior will remind you somewhat of the e38 since it has the same steering wheel (without the redundant control buttons, though)...and the instrument cluster is basically the same.

You won't have all the electronic gizmos...which is no fun...and the comfort and sound deadening is not the same...but since there's a few less things to go wrong the e34 sounds like it may be a better fit financially for you right now. The engine is easy to work on (if you need to)...like the valve gaskets, spark plugs, etc are a little bit easier to work on over the M62TU engine. The oil changes are just as easy on both engines. And it DOES NOT have that lifetime transmission oil...so that is one less hassle you'll have to deal with.

I can understand how you are looking forward as to your automotive/financial situation and trying to stay ahead of the curve. Good luck with your search...the 525i really looks like a nice car...I'd take a look a closer look and see if its as good as it looks in the pics.

Don't be afraid of spending for a pre-purchase inspection if you are really feeling like making the move...that $100 or so could save you much more money in the long run...especially knowing what may lay ahead as for as maintenance and service.

Looks like you live in snow country...you may want to consider mounting snow tires on those 15" wheels...then upgrading this spring to a nice wheel/tire upgrade. It doesn't say, but if the 525i has ASC...that would be a big bonus (especially if you get some dedicated snow tires). My 525iT mounted with snow tires gets me thru everything the past winters have thrown at me without breaking a sweat! ;)

Best of luck to you with what ever you decide to do. :)

http://www.bimmerboard.com/members/q/original/Signature%20Pic%20e34%20e38.jpg

[strayts]

I think you should find a 535i with a M30 motor. More power than the M20 and M50 but doesn't kill your wallet in repairs like the v8's. :>

[burninator]

Thanks, QSilver, that's exactly the kind of response I've been looking for. I think I'll be going to look at the 525 tomorrow. I'm not sure If I should put my M-Pars back on the 7 to sell it, or sell it with the nearly new winter rims + tires on it. I absolutely love my 7, but I think that it would be wise to downgrade for now, and maybe get a newer sport with fewer miles later down the road.

[clevertd]

http://forums.bimmerforums.com/forum/showthread.php?t=900461

'92 Touring w/ 5 speed swap and 77k miles

[rijksatik]

Quite frankly...you should probably stop taking out loans and work on saving your money until you can ACTUALLY afford paying for a car outright.

It seems like a lot of kids jump into a european car before they can see over the steering-wheel....

(Honda's a good place to start if you're interested in putting some cash away.)

[burninator]

Quite frankly...you should probably stop taking out loans and work on saving your money until you can ACTUALLY afford paying for a car outright.

It seems like a lot of kids jump into a european car before they can see over the steering-wheel....

(Honda's a good place to start if you're interested in putting some cash away.)
Well thanks, for your advice, but quite frankly, it's really not necessary. The point of this thread was not to ask for financial advice. I have bought vehicles outright, the 7 was not my first car. I can afford to buy a vehicle outright, I choose not to. Unless you want to offer me some Helpful advice, and not be condescending, keep your opinions to yourself.

[strayts]

Well thanks, for your advice, but quite frankly, it's really not necessary. The point of this thread was not to ask for financial advice. I have bought vehicles outright, the 7 was not my first car. I can afford to buy a vehicle outright, I choose not to. Unless you want to offer me some Helpful advice, and not be condescending, keep your opinions to yourself.

thank you.

by the way, some kids know way more about these cars than some adults. age doesn't necessarily mean wisdom.

[burninator]

thank you.

by the way, some kids know way more about these cars than some adults. age doesn't necessarily mean wisdom.
+1 No thank you :cool

I have grown up around BMW's my whole life, and I worked at Bavarian Autosport for a while. I would love to have a 535i, but I looked all over on the web, and couldn't find one within 150 miles of me, which is about as far as I'm willing to go.

[strayts]

+1 No thank you :cool

I have grown up around BMW's my whole life, and I worked at Bavarian Autosport for a while. I would love to have a 535i, but I looked all over on the web, and couldn't find one within 150 miles of me, which is about as far as I'm willing to go.

that's awesome.

i stumbled upon my 535i sitting undriven at a friends house. lucky i know :D

[burninator]

that's awesome.

i stumbled upon my 535i sitting undriven at a friends house. lucky i know :D
Damnit that is lucky! Do you have pics of it on here anywhere? Your sig looks great.

[rijksatik]

oh no...i'm sorry. that WAS financial advice. i definitely don't mean to be condescending...but you would be in a lot better shape if you just have some patience and wait to own a car that's too costly in maintenance right now.
(considering you're looking at saving $1k/yr on insurance?)

ah, and yes. i'm 25.
(by kid i mean "unable to afford")

[burninator]

Well, as I said, I can afford this, I'm just looking to lower my expenses so that I can add to my savings and go back to school. If I couldn't afford my car, I wouldn't have bought it.

[Grim Reaper]

E38s are very, very nice so its going to be a tough move to an E34 but agree with some of the previous posts. A nice low mileage 95 525 will be a much cheaper alternative to the E38. If you really want the V8 then just get the 540. GL

[burninator]

E38s are very, very nice so its going to be a tough move to an E34 but agree with some of the previous posts. A nice low mileage 95 525 will be a much cheaper alternative to the E38. If you really want the V8 then just get the 540. GL
Well I know it will be a tough move if I go through with it, especially because I love every inch of my car. I'm not necessarily set on a V8, though I would definitely prefer it. I'm just trying to think more in terms of saving, while still being in a BMW.

And BTW rjstatik, save your posts with me on this one, if you want to hate on someone for living beyond their means or whatever it is that you think I'm doing, it's best done here:
http://forums.bimmerforums.com/forum/showthread.php?t=923983

[zubbie]

You lucky youngins...

I drove a 1978 chevette painted like a zebra until I was way out of university! (mind you I am cheap)

Enjoy your German engineering marvels.

[Rebel635csi]

if u are looking at the e34s dont go for the 530i...

gas guzzling of the 540i and the speed of the 525i

in all honesty i would rather own a 525i touring than a 530i touring.

by now i'd probably be supercharged.

[Erick]

As a m50 owner its not all that bad to live with.(wont be the fastest car that you have driven, but it sure won't disappoint you) Well i babied my car as only 59k miles now and loved every min i drove in her. SO don't be discouraged if ya see a m50 in there.

[burninator]

As a m50 owner its not all that bad to live with.(wont be the fastest car that you have driven, but it sure won't disappoint you) Well i babied my car as only 59k miles now and loved every min i drove in her. SO don't be discouraged if ya see a m50 in there.

Well right now the 525i is actually the goal. I found a real nice '95 loaded with 64k that I'm probably going to see tomorrow.

[strayts]

Damnit that is lucky! Do you have pics of it on here anywhere? Your sig looks great.

thanks a lot! :cool

this was about a week ago:
http://forums.bimmerforums.com/forum/showthread.php?t=919498&highlight=pics+finally

[burninator]

Very nice! The one I want is black on black, I can't wait to see it! If it looks good I'm probably gonna list my car this weekend. I baby the hell out of it so I think I can get around $11k

[strayts]

thanks i love that car!

that's awesome good luck with the sale!

[attack eagle]

I'd take skateparks 525iT if all the sunroof/hatch gremlins were worked out of it. won't be as quick as a sedan, but it is SUPER practical especially if you are thinking of going back to school, and the 5 speed takes away the major PITA/Curse that is the 4l30e... and helps a bunch in the fun to drive and around town responsiveness category.

525i 5 speed is probably going to be the most service at home friendly, hell I just swapped the entire drivetrain in my garage with a jack, jackstands, ramps, a 36" breaker bar and hand tools... no air tools were required.

The serviceability and lower maintenance costs are the primary reason I chose the 525iT over the 530iT... single o2 sensor, single valve cover gasket, everything is easier to get to.

I have to be honest though... there is no way I'd pay 8,000 for a 525iA... especially not when Tom aka skatepark has the 5 speed touring with only 77k for sale for 7300.

[HausBimmer]

oh no...i'm sorry. that WAS financial advice. i definitely don't mean to be condescending...but you would be in a lot better shape if you just have some patience and wait to own a car that's too costly in maintenance right now.
(considering you're looking at saving $1k/yr on insurance?)

ah, and yes. i'm 25.
(by kid i mean "unable to afford")

I bought e30's for my two eldest sons (about 6 and 7 years ago) and an e34 for my 17 year old son - all cash and rebuilt them into sweet cars, put sport seats into the e30, performance mods, repaints, custom exhaust, 16" wheels etc. All of their cars are still running (all 5 speeds) and my boys have learned to repair them. We just carry liability insurance on cars bought with cash. Also helped several of their cousins and friends become BMW owners (a couple of them with auto loans).

I'm currently driving an 89 535i 5 speed (also paid cash - only liability insurance) to help keep my rates low until I get these guys off my policy. My wife's 97 528i (also 5 speed manual) is the only car in the flleet with collision insurance. Will definately be driving an M3 when they are off my insurance.

I think your advice was generally good - BUT, that comment about "get a Honda" would definately start a blood-bath among the young BMW owners I know. Honda's are probably cheaper to keep if you don't work on cars - BUT HONDA? (Required Federal Disclosure - this comment was intended to be somewhat humorous and not to intiate an argument with satisfied Honda owners)

[burninator]

Okay guys, so I've decided that I love my E38 too much to part with it. I think that I just needed to consider my options. I let my dad drive it last night and we gave it a good flogging on the coast road. I think if anything this has made me love my car more.:D

[coreyallan01]

There was a 92 535 5spd on Boston Craigs list in Northboro Ma w 102k.

[attack eagle]

I think your advice was generally good - BUT, that comment about "get a Honda" would definately start a blood-bath among the young BMW owners I know. Honda's are probably cheaper to keep if you don't work on cars - BUT HONDA? (Required Federal Disclosure - this comment was intended to be somewhat humorous and not to intiate an argument with satisfied Honda owners)
Honda = paying too much for what you get...