Hi everyone. Newbie here from Bucks, PA. I have always been a car person. I tend to buy cars that I have to trailer, get them running, titled, inspected, drive them and then flip them. My favorite auctions are drug confiscations.
Back in 1999 I leased a 540i Sport. Titanium, Grey leather and a six speed manual. The car listed for $65k and I had a 3 year lease, drove it only 22,000 miles and turned it in. The buyout was upside down. FYI, they don't give you credit for being under the mileage. I always regretted turning that car in.
Last week I bought a used 2002 540i sport auto Black on Black, Blindly through an auction for $775. It was a drug confiscation. I have a lot to say about blind auctions, with my experience. Out of more than a couple dozen purchases over the years, I have only lost on 2. That's when you show up and cut your losses, call 800-CARS 4 Kids.
I was pleased. It started, I was able to drive it around the storage lot and up on my car hauler. And so far, I have had no time to mess with it. I transfered it to a local inside storage for $140 a month.
The condition?
I brought it to the house to power wash. The pine needles and pine cones where in every orifice. The last inspection expiration 2013.
This is the most pine sap I have ever seen on a car.
133k. It fires up with a jump, and there are no noises coming from the motor. In fact, it is very quiet.
It has Style 32's all 9 inch. All 5 need R+R.
It came with Xenons and the PO bought cheap looking aftermarket lenses
The trunk has a power amp and big kenwood thumpers.
The windows have been tinted very dark.
The tires look new, but I haven't checked the manufacture date.
Same with the battery.
The window trim is black = Sport the Auto is a steptronic
The black leather seats have a light patina.
The air conditioning works
The undercarriage appears to be rust free
Their are a lot of dings. The hood has a dent, front and back plastics are not cracked, or out of line, but have a lot of marks.
I will be using the forum, as I go through it and determine to flip it or keep it. (If I keep it, I would have to sell a car)
Cops said the PO is still in jail, from before 2013.
Thanks
2002 540i sport black on black, drug dealer car.
Welcome.
There might be some merchandise still hiding the car to help pay for maintenance, you never know.
Last edited by XAlt; 06-29-2018 at 01:22 PM.
No, but I think the cops tore up the Driver's side door panel looking. There are a number of ink jet printed profiles of criminals, of whom the cops were under cover, looking for matches.
The spare rim is in decent shape, but has a 2004 used tire mounted on it.
The AC compressor is new and nicely operational.
The PS pump is new, but not operating.
The steering center link is new
The serp belt is new.
The passenger side seat has the "twisty" problem.
The Schwarz 668 paint is very nice after a light buff.
I am in discovery mode, it's high up on jack stands as I investigate.
Looks like the front tires have rubbed through the plastic fender wells.
The front struts and rear shocks are all coil overs.
Appears to not have "air suspension" but has a broken control sensor connected on the front right tie rod.
I am wondering if there is a way to use the on board computer to find past codes?
I am RESEARCHING what can possible be wrong with the Power Steering, since the pump looks shiny new.
I'm curious if the Steptronic has a lockout torque converter in Overdrive?
I'm going to take the seat out. It's the passenger.. easy to source another. Mine has scratches from a cop's utility belt, as they were staking out criminals. They had plenty of bail bond pens in the armrest.
after about 400 miles of driving
update.
A new power steering pump worked. Never before had one go bad.
That wasn't air suspension, it was the headlight leveler. The arm is broke, and the aftermarket headlight install has left abandoned plugs, with no matches. Leads me to believe the leveler actuators are gone.
No air suspension the struts are shot. . bouncy bouncy
The tires are all season (wrong). They're 235 45's. Dated 2010, good tread no dry rot. The spare, is a Dunlap '03 and has dry rot. Will be good enough until I address the suspension.
All 5 wheels need restore. All of them are 17x9 15 spoke style 32.
The aftermarket headlights the PO chose, are not only ugly, but the wiring is suspect. They're sort of an angel eyes. Haven't identified the brand
Cupholders are stuck in. Driver's side mirror's edge has failed to moisture.
I've been able to paintless dent remove some of the dings, which is astonishingly good
The rear bumper cover has failed clear coat on top and has a small crack at the bottom.. has to be refinished.
The front bumper cover took a hit. spidered the clear coat.. which shouldn't happen. there are some broken tabs.
The driver door has something loose inside, sounds like a loose track. I already bought a supply of panel fasteners
The trans "passing gear kickdown" has a pretty good jolt to it. I'm thinking motor mount? Steptronic.
Other than all that, I have had my tools out.
I like the fasteners BMW uses for the inner fenders and plastics.
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