Have to make a decision here and would appreciate any advice. I am shopping for a new car now but was hoping to get my 2000 BMW 750iL V12 running again and sell it as a driveable parts car or project car, probably for about $2,000. I could also drive it while I find exactly the car I want to replace it.

However, the car is in the shop and needs a rebuilt ECM that is going to set me back about $1000, plus the labor I've already sunk into it to diagnose the issue, plus a driver-side front window switch and high-visibility brake light. All together, it may set me back about $1850 to get the car back on the road, keeping in mind I've already got nearly $500 into it even if I scrap the car (this $500 is included in the $1850).

Once driveable, the car will still not pass inspection. There are two known issues. The first is that I stupidly replaced ONE cat when I should have replaced both. The computer has never liked that the left and right cats are mismatched and has put up a SES light ever since. Anyone with good access to a salvage yard (or another 750iL parts car) can fix this by replacing the exhaust system. [Note: it is illegal to sell used catalytic converters but, interestingly, NOT illegal to sell an entire exhaust system from the manifolds back, which of course includes the cats.] It is certainly possible to purchase this if you go to the salvage yard yourself, rather more difficult if you expect it to be shipped. Replacing the cats with a used but matching pair should clear the SES code, but I myself do NOT have either a parts car or access to a salvage yard with one or more V12 BMWs in it, such as would be the case for example in Houston or many other major metro areas. This car uses heated cats, so you cannot just go down to Midas and have them put in some cheap crap and pass inspection. The SES light will stay on. I've heard it is possible to have the computer reprogrammed to allow regular cats to be used, but I have not pursued that myself.

The other issue is an airbag light, which has been traced to one of the side airbags in the passenger-side rear door. I have already replaced the airbag twice with used ones plus replaced the door wiring harness and there is still a problem. Someone with more skill than I have, or who has access to better advice than I can get, may be able to fix it but I myself would have to take it to a dealer and the cost would probably be more than the car is worth, everything else taken into account.

Of course, the car is 19 years old and shows the normal wear and tear, including a slight sag in the headliner in the rear, various broken or worn interior parts like the cup holder, etc., but with these fixes would pass inspection and give someone the joy of driving the wonderful V12.

On the flip side, I don't want to spend almost as much as I hope to sell the car for just to drive it for a few weeks.

One part of the equation may be this: what is a non-driveable parts or project car worth? I was figuring $2000 if it were driveable, if for no other reason than that it would cost $1000 to ship it most places in the country. I am way too lazy/busy to part it out, though I suppose I might convince my mechanic to keep it for me and take out the parts for me as I sell them, for a fee of course.

Any thoughts or advice?