E38 price point

[viking89]

Hi guys,

I'm shopping for an e38 and I wanted to get some opinions on what a good price is for a well sorted and maintained car.
I've been looking for about 2 weeks, and for an 01 Msport with around 80-90k miles with decent records and maintenance guys area asking 10-12k.
If the mileage is around 100-110k the price drops into the 5-8k range.

Does those prices sound right? There seems to be a large range of prices for the cars, except for the Msport ones, guys who have them all want 10-12k.

Thanks for any help.

Tony

[nmlss2006]

I wouldn't pay up. Not any more. Prices have been going down pretty steadily, except for unicorns (real unicorns, not cars with 80kmi that look worse than my M5 with 160k).

I paid mid-fives for a non-sport single owner 2001 740i with 88k last summer. Full records since new, good maintenance, all original paint. Looked like an 88kmi car should.

People will ask for a premium for sport package cars. I am not sure it's worth it unless it's nominal.

Oh and - do get a decent car. There's a LOT of trash out there.

[JohnKu]

Just paid $5,000 for a 99 740i sport, one owner, no accidents, dealer maintained, 97,000 miles...

[jpilk99]

My thoughts are similar to nmlss2006 in that I see much lower prices. Honestly, I wouldn't buy the 80k-90k car as it likely hasn't had all the "100,000 mile" replacements that will need to be done. As well, you'd pay a much higher entry point, then do all those repairs/replacements, etc. I'd go for one that's around 115k-125k for $3,500-$5,000. I bought my '01 740iL with 131k for $2,999 and it was in extremely good condition. I haven't had to do much to it since and I'm at 185k now.

Just my 3 cents worth. Let me know if you find any good unicorns!

[viking89]

A LOT of trash out there. I didn't have to do this much shifting through ads when I bought my 540i/6.

Best on Iv'e found so far is an 01 MSport, that had excellent maintenance, full suspension refresh, valve cover gaskets, valley pan all done with 98k miles.
Only issue is that he said the clear is getting "thin" in one area. Hes asking $7400.

[viking89]

A LOT of trash out there. I didn't have to do this much shifting through ads when I bought my 540i/6.

Best one I've found is a 01 MSport with 98k. Suspension refreshed, valve cover, valley pan all done.
Still waiting on some pics, but he said one area the clear is getting "thin".
Hes asking $7400

[jpilk99]

A LOT of trash out there. I didn't have to do this much shifting through ads when I bought my 540i/6.

Best one I've found is a 01 MSport with 98k. Suspension refreshed, valve cover, valley pan all done.
Still waiting on some pics, but he said one area the clear is getting "thin".
Hes asking $7400

Well, (and I'm sure you know this), if it needs paint - then that's almost a deal breaker. What's a good paint job (even if you could just re "clear" it)? $2000. Doubtful the seller would reduce the price by 2k. To me, the big thing would be: "How much of the 100k refreshing has been done". Best of luck!!!!

Jay

[viking89]

Well, (and I'm sure you know this), if it needs paint - then that's almost a deal breaker. What's a good paint job (even if you could just re "clear" it)? $2000. Doubtful the seller would reduce the price by 2k. To me, the big thing would be: "How much of the 100k refreshing has been done". Best of luck!!!!

Jay

I'm still waiting for the pics, but Im with you, it will probably be a deal breaker.
I'm going to have to be patient with the search, which is difficult for me.

Tony

[JohnKu]

Agreed if you can verify that the 100,000 mile jobs have been done. I saw quite a few between 100,000 and 125/150,000 that didn't have some of the recommended 100,000 service done. Take your time and look, or resolve that you will spend a bit having the work done if you can find a lower mileage one that jumps out at you.

[viking89]

Agreed if you can verify that the 100,000 mile jobs have been done. I saw quite a few between 100,000 and 125/150,000 that didn't have some of the recommended 100,000 service done. Take your time and look, or resolve that you will spend a bit having the work done if you can find a lower mileage one that jumps out at you.

JohnKu,

Was the car you just picked up local? Just curious since your in Tallahassee and Im over in Pensacola.
I dont see any nice BMW come up for sale here.

[georgebest]

Prices are all over the place, hard to find any logic in it. You can buy a well maintained one anywhere from $4K to $14K.
I would care more about the maintenance record vs the mileage. I've made this mistake, bought mine cause engine only had 89K...in two months it needed timing chain guide. Should have rather bought one with 120K-150K where TCG was done recently.

[oldroller]

Definitely a wide open scenario. Lots of beaters, runners, and almost maintained, and a few gems. The E38's are close to 20 years old, however.
Even in the best of houses they are subjected to wear and tear of the roads they run on, and the attention paid...sometimes not as keen as it once was, hence they are on the block for sale.
The key is how much, and how technical, are you to efficiently keep it running? If every blossoming issue is a run to the dealer or indy tech, the cost will quickly outpace the value. If the skill set is there, they can and will be a joy to own.
Shortys demand a little more than iL's, depending on condition, primarily for the M-pars and suspension, plus the 'sport' tag. 2g's to 10g's. Location is a big thing, shipping across country is expensive. iL's are more plentiful in the 2-8g range, but then again you must look at condition. Paint delam is not unusual, and a prime job will run you 3g's. Interior correction/upgrade can be as expensive as your wallet can stand. As is all else with this, or any, car you have a penchant for.

In the end your ass will determine the choice. Does it fit your eye? Does it fit your budget? Are there things wonky that you can correct? Drive it, notice the floating, or is it a sure feel? Shifts smooth or chunky? Braking smooth, or some vibration? Windows all work? Lights on in the cluster? Engine bay clean?
If it feels good to you, by all means take a chance. It could, be forewarned, a disaster. Then again it could be a runner that will take you 200K miles and beyond and be a ride you will not forget long after the wheels are gone.
Good luck with your hunt!

[viking89]

I currently have an 01 540i/6 and Ive done all the engine and suspension work so I know what Im getting with these cars.
I just enjoy the extra room that the 7 series has, I'm a pretty big guy. Plus I plan on doing a 6 speed swap and maybe an S62 swap.

I wish I could find some deals that some of you guys have.
Every time I think I've found the car, I notice something thats a deal breaker. Just got to be patient.

[georgebest]

I guess the problem is that anybody who keeps these cars in great shape, like most of the people on this forum, has no incentive to sell. It's a fantastic car with practically no resale value.
I'd try to find one with great interior & exterior but existing timing chain issue. Trim pieces are the most annoying, cause prices are insane and usually only genuine parts are available. Good interior and exterior with dying engine would be my dream find.

[Sabreslight]

I guess the problem is that anybody who keeps these cars in great shape, like most of the people on this forum, has no incentive to sell. It's a fantastic car with practically no resale value.
I'd try to find one with great interior & exterior but existing timing chain issue. Trim pieces are the most annoying, cause prices are insane and usually only genuine parts are available. Good interior and exterior with dying engine would be my dream find.

Like this? https://austin.craigslist.org/cto/d/...709362527.html

[gaspump]

Or buy a 95 without all those nasty timing chain guide issues.

[georgebest]

Like this? https://austin.craigslist.org/cto/d/...709362527.html

Hard to say just from one interior picture.

[nmlss2006]

Agree with multiple posters above:

1) Paint issues are a deal breaker, period. With the cost of paintwork in the US (and the quality of the work that goes with that cost, amazingly) there is simply nothing else to say.
2) A cosmetically perfect (interior and exterior) car with mechanical issues is worth enormously more than the opposite and is going to be more cost effective and less frustrating. Be advised however that neglect in one area tends to go hand in hand with neglect in others.
3) As to 'go for the higher mileage cars because stuff will already be done', I tend to disagree. The possibility of finding a car where stuff has been done the right way is laughably low (as in, well less than one in a million. Do note that there were nowhere near 1M E38s produced and infer the correct conclusion). If you want a trouble free experience, you want a car that has been touched as little as possible. And then you have to be ready to pour in preventative maintenance with a fire hose, use it regularly and keep it in a garage. If you can't meet all of these... be prepared for a lot of frustration or choose a different car. Sad, but true.

[georgebest]

The possibility of finding a car where stuff has been done the right way is laughably low (as in, well less than one in a million.

I disagree on that. I'd prefer a properly rebuilt 18 years engine with 150K vs one which wasnt touched at 75K (assuming same age).

[nmlss2006]

That is entirely your prerogative, of course.

I see two problems with that, the main one being, how are you going to verify 'properly'?

Secondly, what does that gain you? Unless, that is to say, you manage to purchase for a song a car that has JUST had a very significant amount of work PROPERLY done... the odds of which are even lower than what I stated above (but occasional strokes of luck, admittedly, do happen).

[Tdownpdx]

Just got a well maintained 99 m sport with 144k miles, timing chain guides done, almost perfect for $3k. One of the benefits to living in a state next to California is that we get tons of rust free used cars dumped on our market.

[georgebest]

Just got a well maintained 99 m sport with 144k miles, timing chain guides done, almost perfect for $3k. One of the benefits to living in a state next to California is that we get tons of rust free used cars dumped on our market.

Sounds like a bargain with TCG done, congrats! I also shipped my car from CA, quite amazing having now rust after 18 years. That will soon change in PA

- - - Updated - - -

That is entirely your prerogative, of course.

I see two problems with that, the main one being, how are you going to verify 'properly'?

It is not really rocket science, but any good mechanic can rebuild these engines "properly" and make it last another 100K miles. I'm entirely clueless and even I managed to do mine but only have 4K miles in it since, so hard to say if it was a success. So far it appears to be.

[Jerry Scholder]

Hi guys,

I'm shopping for an e38 and I wanted to get some opinions on what a good price is for a well sorted and maintained car.
I've been looking for about 2 weeks, and for an 01 Msport with around 80-90k miles with decent records and maintenance guys area asking 10-12k.
If the mileage is around 100-110k the price drops into the 5-8k range.

Does those prices sound right? There seems to be a large range of prices for the cars, except for the Msport ones, guys who have them all want 10-12k.

Thanks for any help.

Tony

Having purchased an 01 M Sport recently that was totally restored with lots of new parts and a beautiful exterior oriental blue with 176,000 miles and a few minor extras; purchased from a bimmerforum member who obviously obsessed about the condition of this car, I can tell you there is no easy answer. If you "love" the car, you should pay what you think you can afford and feel its worth, rather than what "people" say is the going rate. I paid $6,000 and felt it was worth every penny; full asking price. Put less than 1,000 miles on it in a year and continue to get lots of compliments on its condition. You could have dinner served under the hood it's so clean and new.

[viking89]

Thanks for all the feedback guys.

I think I may have found a car, If I get it I will post pics in another thread.
It's sad that in another few years, there probably wont be to many clean e38's left.

[JohnKu]

No... I saw it listed in Houston and rolled the dice after pulling the CarFax and talking a lot with the salesman. It was a one-owner no accidents and no flood damage. 98,000 miles, so I had it delivered. Not a lot out there... I am kind of picky with my cars, but for $4 - $5,000, I figured what the heck. I probably would have haggled for an extra $500 off if I was in person, but still very happy.

I saw one listed a while ago in the Pcola area, but I thought they were a little overpriced for what they had.