Could use some help with a potential 750 purchase...

[RDE38]

ChrisV originally shared this on the craigslist thread. I’ve been in touch with the seller and I am close to flying up to NJ to purchase the car. It has a lot of nice features/mods to it. I’m not particularly fond of the two-toned interior but figure I could swap the black parts back in over time. The issue I am having is the bit of rust on the right rear door. He sent me several videos showing good detail of the exterior, interior, engine bay, under the car showing all 4 jack points and a cold start video. It seems to be in very good condition and he says there is no other rust. I ran a carfax report and it has good maintenance history with no major issues. I asked if he would bring the price down to $10k to help cover the repair cost of the door but he won’t budge from $11,200. Is this a fair price? I feel he should be willing to lower it but I can understand if it’s already a low price.








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[RDE38]

Original craigslist ad:

2001 BMW 750iL from Owner - $11200 (Flemington)

condition: excellent
cylinders: 12 cylinders
drive: rwd
fuel: gas
odometer: 116000
paint color: black
size: full-size
title status: clean
transmission: automatic
type: sedan

Considering to sell my 2001 BMW 750iL in excellent conditions with just 116k miles. I was enjoying to own this excellent classic beemer for last 8 years since 2010 and put a lot of time and money to restore, improve and maintain it properly putting 5-6k miles each year as this is the 4th BMW in our family. Clean title and history. If you are looking for e38 BMW, I do not need to list specs and standard features of this premium BMW with listing price of $98,000 in 2001. V12 engine, 330HP, 5-speed auto, full leather interior, double glassing, adjustable and heated front and rear seats, front and rear parking sensors, super comfortable and quite. Every mechanical and electrical piece works properly. No error lights. No dead pixels. Transmission, differential, power steering fluids recently replaced in 2018 (at 113k miles). Valve covers, intake manifold, injectors re-sealed, all front and rear control arms and bushings replaced in 2017 (at 105k miles). Water pump, thermostat, radiator hoses, spark plugs replaced in 2015 (at 92k miles). A few useful modifications to improve the interior and up-to-date ride quality:

Bi-xenon headlights (lenses from e60 M5)
Performance brakes rotors 374mm/370mm with calipers from e60 M5
Short 3.15 differential to improve torque delivery
Thicker 27mm/15mm sway bars to decrease body rolling
EDC- and SLS- delete
Bilstein Turing shocks, H&R springs low the car by 1.5" and improve stability (maintaining comfort)
Two-tone leather interior, alcantara headliner and pillars
Countor heated and massaged front seats
Sport 3-spoke steering wheel
MkIV navigation with 16:9 display
M-Parallel 9.5"x18" square summer set (255/45/18 front, 285/40/18 rear Continental DW)

Mechanical: 10 out of 10.
Interior: 9 out of 10. Driver seat shows some sign of wear.
Exterior: 8 out of 10. Small chips. Right rear door shows some rust.

Price is firm. Serious buyers only, no dealer please. I will sell this car to BMW enthusiast only to keep maintaining it.


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[rslifkin]

Personally, I'd say even $10k is pushing it a bit for that car. It's got a few nice upgrades, but it's not so perfect that it's worth that money. You could easily find a very clean one and do most of those mods for the same price he wants.

[xboss]

I would buy a 750 that was never in the East or midwest unless you like rusty stuff. Mine came from Texas and Michigan roads are already beating it to death.

[RDE38]

Ugh, thanks. I’m finding it hard to find any 2001 750 sport, let alone one with some nice mods.


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[gaspump]

There's probably more rust hiding. IMO, its way overpriced.

[KinkedChrome]

Ive seen better deals out there, but 750 sports seem really hard to find, i hardly ever see them come up. Parts are cheap, you could probably get a while new door for not very much money. If the bottom is not rusted out and this is the color/trim and mods you want, i think it might be worth it.

There is a good amount of work tied up in replacing the struts and doing the rear diff. If your not a diy type or have a trusted mechanic, there is good value there.

You definitely wont be flipping it and making money, but hopefully you end up with an e38 that you really enjoy.

[acspecialists]

If you want it buy it. No matter what has been done there will be more to do. If you love the car that is what you are buying. All the best.

[CPHES]

It’s a high price. Hard to find / last year sport, so there won’t be many out there. The rust is due to that trim at the bottom of the door. Not necessarily indicative of a larger issue. If you are serious, fly up with the $$, but look underneath carefully, and be prepared to walk if it has other rust issues. Did he give you the VIN? Some of the mods are ok, some I don’t agree with ( e60 m5 brakes require drilling, and you won’t know until you drive and stop, if it works right ).

[RDE38]

Thanks for all the input. I do have the vin and ran a carfax. It looks good. Should I be doing anything else with the vin? He sent some detailed videos and got underneath. I asked him to show the jack points and they look good as well. I’m a bit annoyed at his unwillingness to come down on the price at all considering I’d be having to do some body work.


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[CPHES]

Yeah, the nicest build of a 01 750 sport is the Buck Clifford car. I don’t think he would sell, but he might opine on value.

I am guessing the sway bars are from UUC, and they were a e38 specific part.

The Deletion of edc/sls, and his use of Bilstein Touring shocks ( see black color in the brake shot ) with H&R springs is not likely to be a good combo - yellow Bilstein HD’s should be used ( but cost more ), and the strut brace is an odd looking piece.

Do let us know how this turns out.

[aom7]

No thanks.. not even for 8k... The rear is sitting waaay too low, I don't think he used the correct set of springs for this type of car. I would have preferred he kept everything stock but well maintained (including Preventative Maintenance).

He worked on modifying a few items, but let the rust build up? That should have been taken care of first thing. If the alternator, PS pump and AC compressor are original, those are going to need to be replaced soon. Remember, around 100k is when everything starts falling apart on these cars (usually the stuff attached to the engine).

He should have spent his $$ on maintaining it better, before going off on modifying it. This is going to cost a lot more to get up to snuff in the next 2 years. Also, the fact that it's 20 years old, from the east coast/snowbelt... automatically kills a lot of its resale value. If that was a rust free car in AZ or CA, he might be able to get around asking for it. But because it's on the east coast, he's looking at 20-30% less than he thinks it's worth, unless it was kept in a time capsule--which isn't the case.

[RDE38]

Those are my thoughts as well. Him not willing to come down has got me annoyed. Looks like I’m walking away.


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[racer2086]

Where there's rust...there's more somewhere. If it has been in the north east its entire life, 10k no way. Every bolt under there must be a nightmare to get off.

[CPHES]

I see it a little differently. The doors are an issue in the northeast due to that molding at the bottom. The rest of the e38 fares well. More rust than a Cali car. Yes. I don’t think that is the biggest deterrent. It’s the price, of this was in the 7-8k range, he’d be sold

[rslifkin]

I'll agree that if people aren't very good about cleaning out around that molding, the door bottoms are one of the first places to start rusting on an E38. It definitely warrants careful inspection of the rest of the car, but it's not a guarantee of more problems hiding elsewhere. Especially if it's only 1 door, where it's possible a paint chip or other damage accelerated the problem.

[racer2086]

I hear you on the door molding, but how far away is the rust on the quarters? I guarantee everything underneath has a layer of some rust, and the bolts for the exhaust, suspension, etc are corroded and will prove difficult to remove when repairs come.

My car spent only 3 years up in CT when I was in school, and I have a rust spot in the middle of my driver's door between the upper and lower trim. Smack in the middle of the panel. Anything can happen, and coming from FL to up there even for a short time, I saw what it did. Unless you're in a rush, I'd hold out for the right non-salt-belt car or maybe get it for a really good deal if all else looks ok.

[acspecialists]

If he really wants it to go to a BMW freak he will have to come down on the price, we know what it is worth. When I looked at my E60 M5 if I were talking to the owner that dumped all the money into the car I would have not gotten it for 11k. He loves the car and is not ready to let it go. Make him and offer that works for you and move on if he doesn't take it. If I had a choice between a little rust and all of the mechanical work that has been done I would choose the mechanical work. you can drive for years with a little rust. My clear coat is shit on my car but I have still been driving the wheels off of it.