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Thread: 1997 740i bought in Dec 08...is it worth getting nickel and dimed to death???

  1. #1
    Join Date
    Dec 2008
    Location
    MD
    Posts
    3
    My Cars
    1997 BMW 740iA

    1997 740i bought in Dec 08...is it worth getting nickel and dimed to death???

    All,

    Request thoughts on my situation. I bought a Silver 1997 740i, 97k miles in Dec 08 for $5500, now has 103K miles. Body is in fantastic shape.

    When I bought it and had it inspected, I had to have a few minor repairs, mainly the radiator overflow and a tierod on the pax side (about $800). New Michelin tires from Costo $600, battery $120 or so.


    Other issues included, but not fixed were:


    Pixel loss on dash
    Rattle inside dash
    Air not blowing from driver side vents (with a/c on, not sure about heat)
    Glove Box Latch (I removed the old, salvaged the key cylinder), need new latch.
    Brakes/Rotors-front (7k miles left on front) and back (1k miles or so left), I saw online that I could get new pads/rotors for about $280 from "BrakeMotive" (a friend said he will put them on for me), the mechanic also recommended changing the hoses due to cracking (isn't it just covered by rubber but bound by coiled metal?) ?!

    It is in the shop right now getting the power steering (hoses, $500 or so includes labor) looked at because it was leaking like a siv and I was refilling the resevoir every 3 days or so. Some kind of steering link is bad ($128).

    The mechanic also mentioned that I need some kind of bolts replaced off of the exhaust?? (said there are (4) and once removed they all will need to be replaced). I don't think I'll be taking it back to him.

    Serpentine Belt needs replaced (has cracks) and he recommended that I replace the tensioner bar.

    It also seems there may be a water leak (smells musty inside and it is damp under the drivers side floormat), don't know if it is a clogged drainage hose or something else like an a/c hose.

    I spoke to BMW of America yesterday and they said they are willing to pay for 1/2 of the DASH part but I will have to pay for the labor, total will be about $550 or so.

    I've read about alot of the issues on here, unfortunately I am NOT very mechanically inclined.

    Should I keep it or do you guys think I did well enough on the original price $5,500 of the car that a little nickel and dime is worth the overall value?

    Right now, with all of the above, I have about $8,100 in it. After the dash and PS issue is fixed...should I go for the brakes? I feel like it's just an avalanche of issues that keeps piling on.

    I love the ride feel and the engine sounds great, like an F18!

    Any thoughts are greatly appreciated!!!


    -JLHDU (I'll try to post a photo soon.)

  2. #2
    Join Date
    Oct 2008
    Location
    Easton, pa
    Posts
    1,968
    My Cars
    00 740il (Its Long)
    It is total up to you, I have drop a good amount of funds in to my 7, but I do all my work myself with save me a lot of $$$.

    I would say start doing work yourself, start small here and there an work yourself up. That is how i started 22 years ago. Now I do all my work included removing and and replacing an engine and trans.

    Go to Sears and get you a set of tools, nothing expensive let say the kit for $199.00 it comes with everything you need as a start off mechanic. Start small and build up your confidence. A very good reference for get your car fixed is the e38.org site. If you have a problem and know what it is, the fix is probably there and just follow the instructions. Also get a torque wrench where you can tighten the bolt back to OEM spec.

    Then you can start keep some of you nickels and dimes in your pocket.

  3. #3
    Join Date
    Dec 2008
    Location
    MD
    Posts
    3
    My Cars
    1997 BMW 740iA
    Thanks, do you guys usually replace the brake pad sensors when replacing the brakes?

  4. #4
    Join Date
    Jun 2009
    Location
    McKean township Pennsylva
    Posts
    10,542
    My Cars
    1999 M3 , 1999 328is
    I bought a 1998 740il back in 2000 for 26,900. Since then until I sold it a month ago I put 17,000 worth of nickel and dime parts in it. That does not include new tires or state inspections. It may be a pain to deal with at times but when it works it is so much fun that it out weighs the bad.

  5. #5
    Join Date
    Aug 2007
    Location
    Portland, OR
    Posts
    7,423
    My Cars
    Cadillac
    Quote Originally Posted by pizzaman09 View Post
    I bought a 1998 740il back in 2000 for 26,900. Since then until I sold it a month ago I put 17,000 worth of nickel and dime parts in it. That does not include new tires or state inspections. It may be a pain to deal with at times but when it works it is so much fun that it out weighs the bad.
    For nine years, and less then two grand a year, sounds about right!

    As long the repair bill is not all at once, in my opinion it's totally worth it.

    Previous cars: 1994 325i Vert, 1996 328i Sedan, 1998 740i, 1999 740il....current car: 1996 328is Sport/5 speed/black on black

  6. #6
    Join Date
    Jul 2008
    Location
    NY
    Posts
    1,125
    My Cars
    2001 740il
    PS hoses are an easy fix (at least two of them anyway). I'm not that mechanically inclined either but I was able to follow the write ups on e38.org. Don't worry, try an easy project first and then build your confidence. These things are just like any other car so don't be scared that it will blow up if you unscrew the wrong thing just b/c its a 7.

  7. #7
    Join Date
    Jul 2009
    Location
    louisville, ky
    Posts
    16
    My Cars
    1998 bmw 740i
    sounds like its worth it!

  8. #8
    Join Date
    Feb 2009
    Location
    Pikesville, MD
    Posts
    1,895
    My Cars
    '01 740i Sport, '13 Volt
    Quote Originally Posted by JLHDU View Post
    Thanks, do you guys usually replace the brake pad sensors when replacing the brakes?
    Yes. They are cheap, and usually the old one is brittle from the heat.

    "Worth it" is really up to you. Do you like the car? Can you afford it? It's still cheaper than a new economy car...

    Where are you located? Join up with us, and save some money! Also, spend the money to join the BMW CCA if you haven't already. It can save you 15-20% on parts and service at a dealer.

  9. #9
    Join Date
    Mar 2008
    Location
    Conklin, Michigan, USA
    Posts
    775
    My Cars
    1995 BMW M3
    First off welcome and good deal on the car. I myself have found that my 7 is very easy to work on and with the $200 mechanic tool set a sears you an fix almost anything on the car. I havent had a problem I havent been able to fix yet.
    Also if you think a mechanic at a shop is pulling your chain about something come and ask us questions because there is no shop out there that has as much info on these cars as all of us combined do
    [IMG][/IMG]
    1995 BMW 740i (Sold)
    1997 Chevy K1500
    2014 Chevy Malibu
    1995 BMW M3

  10. #10
    Join Date
    Sep 2008
    Location
    Hayward, CA
    Posts
    616
    My Cars
    97 z3 1.9M, 96 328ia
    Quote Originally Posted by JLHDU View Post
    All,

    Request thoughts on my situation. I bought a Silver 1997 740i, 97k miles in Dec 08 for $5500, now has 103K miles. Body is in fantastic shape.

    When I bought it and had it inspected, I had to have a few minor repairs, mainly the radiator overflow and a tierod on the pax side (about $800). New Michelin tires from Costo $600, battery $120 or so.


    Other issues included, but not fixed were:


    Pixel loss on dash
    Rattle inside dash
    Air not blowing from driver side vents (with a/c on, not sure about heat)
    Glove Box Latch (I removed the old, salvaged the key cylinder), need new latch.
    Brakes/Rotors-front (7k miles left on front) and back (1k miles or so left), I saw online that I could get new pads/rotors for about $280 from "BrakeMotive" (a friend said he will put them on for me), the mechanic also recommended changing the hoses due to cracking (isn't it just covered by rubber but bound by coiled metal?) ?!

    It is in the shop right now getting the power steering (hoses, $500 or so includes labor) looked at because it was leaking like a siv and I was refilling the resevoir every 3 days or so. Some kind of steering link is bad ($128).

    The mechanic also mentioned that I need some kind of bolts replaced off of the exhaust?? (said there are (4) and once removed they all will need to be replaced). I don't think I'll be taking it back to him.

    Serpentine Belt needs replaced (has cracks) and he recommended that I replace the tensioner bar.

    It also seems there may be a water leak (smells musty inside and it is damp under the drivers side floormat), don't know if it is a clogged drainage hose or something else like an a/c hose.

    I spoke to BMW of America yesterday and they said they are willing to pay for 1/2 of the DASH part but I will have to pay for the labor, total will be about $550 or so.

    I've read about alot of the issues on here, unfortunately I am NOT very mechanically inclined.

    Should I keep it or do you guys think I did well enough on the original price $5,500 of the car that a little nickel and dime is worth the overall value?

    Right now, with all of the above, I have about $8,100 in it. After the dash and PS issue is fixed...should I go for the brakes? I feel like it's just an avalanche of issues that keeps piling on.

    I love the ride feel and the engine sounds great, like an F18!

    Any thoughts are greatly appreciated!!!


    -JLHDU (I'll try to post a photo soon.)

    just wait out the dim display / missing pixel for now that will save u money
    also if u wanna go cheap on brakes just buy pads and resurface ur rotors
    exhaust bolts u can do urself or get ur friend to do it
    check your clamps when u have leaks, that might be the problem

    the way i see it, as long as ur e38 is rolling hard, you can wait out the minor things (pixel display, etc..) until u have the cash for it...that way it will be easier on ur wallet.

  11. #11
    Join Date
    Dec 2004
    Location
    Mill Creek, WA
    Posts
    4,028
    My Cars
    98 740iL, 01 Suzuki TL10
    I'm keeping mine for as long as I can...it's going to be my in my family just like all those classic cars you seen done over on Overhaulin. I've got a new motor and diff already, so after the 6spd swap, she's gonna be a keeper for me. It's all up to you what the car is worth to you, so only you can decide.
    650hp 10 X5///M5
    PERFORMANCE:JB4 w/ meth, stage 2 tune, wrapped downpipes, custom intake
    INTERIOR:AVIN 10.25" screen, Blackvue 550 dashcam, 7" tablet for JB4 logging
    EXTERIOR:Niche staggered 20's or AC Forged staggered 22's, H&R 2" suspension, LED AE, CF front splitter
    325hp 98 BMW 740iL6
    PERFORMANCE:///M5 6spd swap, iron sleeves, L/W Teflon coated & silicone impregnated pistons, Sealed Power rings, 3 angle valvejob, P&P head, perf cams, electric fan, CF intake tube w/aluminium heatshield/wrapped MAF tubing, Magnaflow 14816'd, Eaton M112 in-work
    INTERIOR:Android Dynavin, hardwired V1 above rearview, 12" RE Audio DVC sub, MTX 81000D monoblock, CF silver trim, 5% tint
    EXTERIOR:///MPar staggered 19's, H&R Stage 2/Bilstein HD, custom notched bumper, Shadowline trim, 750iL brakes w/ Axxis pads
    190hp 97 328ci
    PERFORMANCE:Single mass flywheel, ///M3 clutch
    EXTERIOR:Z4///M staggered 18's, rolled fenders, tinted markers

  12. #12
    Join Date
    Mar 2004
    Location
    Fishers, Indiana & Barrie, ON, Canada
    Posts
    945
    My Cars
    M4, NSXs, E63, 911 C4
    There has been some good advice given here, and it is pretty easy to follow.

    1.) Decide if you like the car enough to go through some additional troubles.
    2.) Be honest with yourself and figure if you can really afford the maintenance.
    3.) Do the work yourself if you can to save money.
    4.) Decide how long you want to keep the car.

    I understand where you are coming from. A few months ago I bought a '95 740iL and the day after purchase had it inspected to get everything up to date and ended up putting approximately $2,700 more into the car on top of the purchase price just in maintenance and repairs, then approximately $1,400 more the week after for replacing wheels and tires since the Michelins that were on it had to be replaced. So almost $4,100 more on top of the purchase price of the car.

    Bottom line is that stuff ads up quickly on these cars, and you have to take inventory of your finances and really be honest with yourself and decide what you want. If you plan to keep the car in perfect shape (where each and every issue is repaired), then have your check book ready. If you are like many of the people that buy these and are willing to live with the car not being perfect, but still nice, then figure out which issues you do not mind fixing (like pixels and such) and decide if you will still be happy with the car. But when you start looking at things like cracked brake lines (which I had to replace on mine too, by the way) and real safety and maintenance items and putting those off, do yourself a favor and sell the car. Seriously. Because if you cannot afford to keep yourself safe by making sure all of those items are done, you really cannot afford the car. It may not be the answer you want to hear, but compromising the safety of yourself and others is not worth it.

    Food for thought....best of luck to you, and I really hope that things work out for you and your 740i.
    Mitch

    'Live your dreams today, because tomorrow may never come.'

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