Should I take the plunge into 8-series Ownership?

[E34 5er]

Hi all,

Just as I have put all my cars up for sale, trying to start anew with my garage, I was at a dinner where some lady mentioned her neighbor was trying to sell his "V12 BMW." After hearing this, I gave her my number, and she gave me his contact info. I spoke with the owner of the car today, here are the details he sent me:
BMW 850 Ci
Exterior: dark green- clear coat fading, needs new paint
Interior good except driver seat has damage on bolster and will need to be reupholstered
V12
Year built 1993
Estimated 172,000 miles

Mechanics excellent
Except for an electrical issue, batteries constantly drain and will be dead within 3 days.

Owner said he spent $40k on maintenance in the past 7 years of owning the car, sounds expensive, but sounds like he did a lot and is tired of this electronic issue and wants to get rid of the car. 4th owner. He is asking $8k, which seems quite steep considering the condition, but I haven't see it yet. I have been researching the battery drain and sounds like it can be a thousand things. I've always wanted and 8er, but this one sounds like it's only worth it at around $4k. What do you guys think? Going to check it out next week.

[olinjohnston]

Even if you got it for free it would be cheaper to just buy a better one. Sorry

[Belgiumbarry]

i would have a look at what is done for "40k" maintenance.... if it is mainly new parts it could be interesting... as everybody needs to renew many of those parts soon or later , so have a profit in the long run .

here i random think of :
GM module
All ignition parts ( rotors,caps,wires,coils)
2 CPS
2 FPR
fuel pumps , filters
Manifold gaskets
Water pump , belts
Water cross over tubes ( with the O rings )
Pentosin hoses and sensors
Alternator cable
MC , brakes, tires...
chocks , Suspension parts

I mean, you ( DIY) will have quickly $10k parts in those....and if not "new" , they will pop up ....

[rjjablo]

Battery Drain is Likely the GM Module Capacitors, if it is not you will being chasing it with a multimeter and pulling fuzes

175K miles you are getting deeply into replacing wear items. All the rubber is hard or rotten, worn etc

Critical look at what those items are drives the price. Is it wear items or do you see recuring unsolved problems?

As it currently sits does everything work? Idle smooth etc etc. I bought mine for less than 3K but it needed that 10K of parts that Barry mentioned including a transmission

They are a blast to drive when everything is working right, and then the door handle breaks is the mantra at this kind of mileage

[Hyper]

...trying to start anew with my garage...

Two types of people.
Those who don't want their lifestyle compromised, want a car that is 100% ready at all times, drives fantastic and feels sorted of all issues.
And those people who don't mind hanging out in the garage with a project that will, in the end, never be completely sorted, in need of parts that are NLA.
If you are on the fence about which people category, I can recommend buying a new car first, along with pre-paid maintenance.
Then back track if still interested in old cars.

[TedBobo]

If you take the "plunge" be sure to join SoCalEights….you'll have access to a wealth of knowledge.

[TxGR8White]

That’s a very interesting question you posed, let me ask a couple in return. Have you ever smashed your thumb with a hammer? Did you like it? If so, then you should jump on this car like a duck on a June-bug.

[WildKarrde]

I recently bought a '93 850Ci in similar condition for $5000. Major difference being that the electronics in mine had recently had a thorough rebuild, and my car has sat for weeks and started right up every single time. I've always heard electronics are the hardest part of these cars to repair, so the fact that my car had them recently done gave me a lot of peace of mind. That said, I've put $1000 more into mine with batteries, tires and misc. stuff. It will also need at least $1000 in suspension work in 2020, $3000 in body work and paint, and about 10-20 hours to rebuild the upper interior.

So far, it has been worth every penny.

[dukegrad98]

I had a "bad BMW weekend" in my garage -- so let me enter the camp that says this car isn't worth it. I've got one in a similar state sitting in my shop. It was (is?) an intended restoration project. I've done most of the mechanical stuff on it, or had it done. It drives fine. Paint is a mess. The aftermarket wheels the prior owner installed should be a crime. The heater valve needs replacing, and the new part has been sitting on the shelf for a year or so, not yet installed. Interior is mostly redeemable, but needs more than a little work. It's all stuff I could do, but for a multitude of reasons, for two or so years now it hasn't gotten done. I can tell I'm losing interest.

On a seemingly unrelated note, this past weekend I pulled my E36/8 M Coupe out of the same building. I haven't really used it in more than a year. It appears to need attention in the engine cooling system, a common problem in that model. Since the car is otherwise in good shape, that's an issue I'll chase and get repaired. But being unable to use it when I was ready to use it left a pretty bad taste in my mouth.

After all that, I found that I was kicking myself for letting a good driver-quality Ferrari 550 get away from me at auction several weeks ago -- and after the M Coupe let me down and with the 850 project going nowhere, I spent Sunday asking myself some hard questions about dumping both BMWs to open up a couple slots in the garage for something I would actually enjoy and that would actually work. I don't make rash decisions, so nothing will happen too soon, but selling those two would mark the first time in roughly two decades that the roundel would not be present in my garage in one form or another.

So -- know what you're getting into, and buy the best one you can. $8k sounds too high for the car you're looking at, but don't kid yourself about $4k -- a decent parts car could bring that much, depending on which parts are in good shape. Lots of them are NLA. That's more the neighborhood I'd let mine go in, I think.

Cheers, John

[dragon850]

Every ones expectations what a sorted car is are different.
Some people drive an 8 that runs but barely and call it "in pretty good shape"..
My assessment of what you would expect to spend in parts only on an 850 that cost 8k to buy is somewhere in the neighborhood of 10k, this is just to get it to reliable status.

[Joe850V12]

then I got really lucky, mine was $7,000 and I have spent $3,000 4 years ago, now it needs fuel lines, maybe a diff, and rear bushings, while I'm in there, so about to spend about $3,00 grand, but then I think it will be OK for another 2-3 years. i think it is fair to expect an average of $1,000 per year.

[cartoonz]

Every ones expectations what a sorted car is are different.
Some people drive an 8 that runs but barely and call it "in pretty good shape"..
My assessment of what you would expect to spend in parts only on an 850 that cost 8k to buy is somewhere in the neighborhood of 10k, this is just to get it to reliable status.

Then again, we are a tad bit more picky than most

[E34 5er]

Two types of people.
Those who don't want their lifestyle compromised, want a car that is 100% ready at all times, drives fantastic and feels sorted of all issues.
And those people who don't mind hanging out in the garage with a project that will, in the end, never be completely sorted, in need of parts that are NLA.
If you are on the fence about which people category, I can recommend buying a new car first, along with pre-paid maintenance.
Then back track if still interested in old cars.

Um... I have no clue what makes you think I would want a new car, I hate new cars and refuse to buy any car after the 2003 model year. Pretty much every car I've owned has been from the 90s, with some examples in the 80s and early 2000s sprinkled in there. What I mean by selling my current cars is that I have 5 cars currently (all from between 1991-1993 model years) and I believe I can make a decent profit and have some money in the bank, as I am completely broke right now. After that I wanted to go try and get some of my dream cars, with the 8-series being one of them. Hell no will this be my daily driver, but I'd like it for a weekend cruiser. I never lost money on a car I owned, however, which is why I'm a bit worried about this 850 unless I get it for a crazy good deal.

[E34 5er]

i would have a look at what is done for "40k" maintenance.... if it is mainly new parts it could be interesting... as everybody needs to renew many of those parts soon or later , so have a profit in the long run .

here i random think of :
GM module
All ignition parts ( rotors,caps,wires,coils)
2 CPS
2 FPR
fuel pumps , filters
Manifold gaskets
Water pump , belts
Water cross over tubes ( with the O rings )
Pentosin hoses and sensors
Alternator cable
MC , brakes, tires...
chocks , Suspension parts

I mean, you ( DIY) will have quickly $10k parts in those....and if not "new" , they will pop up ....

He mentioned he had the transmission rebuilt or replaced, and pretty much had everything mechanically done to the car. Also did some interior work like new headliner, and a lot of stuff he was mentioning off the top of my head... Sounds like it was probably a dealership or something that was screwing him over. I usually try to DIY everything, but I am mainly worried about the electronic stuff as I don't know how to handle that on my own.

[Belgiumbarry]

if you are completely broke right now.....i would stay away from any 850 as far as i could.
I bought mine "in decent shape" for 20k … and with the list i wrote , done , sure for 10k parts , i'm at 30k... and still some things to go.....
reliable ? mine was never reliable, when a problem was fixed, 2 others popped up.... i can only hope i'm almost "there" .

PS yes, i also find 175k miles "high" … mine had 88k and has now 90k after 3 years ownership….

[TedBobo]

if you are completely broke right now.....i would stay away from any 850 as far as i could.

It's difficult being "broke" & living in LA....but part of the "working poor", yes! The OP is probably just low on fun money.

[PabloRock]

If you're broke, it may not be the right time for an 8. Even if you are wrenching yourself, parts get expensive. And $8k for that car, may be a bit high. That is kinda high millage, but I have seen many with around that. If you can get it for $6 or $7, it may be worth it. It would have to be a labor of love, and issues will pop up all the time. That being said, it is a great car. The looks are timeless and still turns heads. It's a pleasure to drive on both short and long cruises. The engine is smooth with plenty of pull, but it's no rocket ship (even though it looks it). If that's the type of thing your looking for, a 911 may be a better bet. If you don't mind working on it on a regular basis and the time to work on, an 8 is a great car. I have had mine for 20 years now and it's only a weekender for me (it was my daily for the first year). It's been fairly trouble free for me over the years with less than $5k of issues, but I only have 58k on it. I used to take it to the dealer for work, but when they charged me $2500 for fluid changes and new brakes 10 years ago (and it took 3 weeks), I started doing everything myself with the help of this board. So far, I haven't run into an issue that the board has not been able to help me fix (and I'm no mechanic). So overall, don't be afraid to get and 8, just be aware that it will go down time to time, and may cost a couple of bucks to get it back and running. Good luck!

[olinjohnston]

as I am completely broke right now.

This is the wrong car for anyone with a tight (or any) budget.

I bought one that appeared to need nothing when I got it, and over the years I am well over $40k into it with a list of things still to go. This is with doing almost everything myself snd working at a BMW dealer with parts discounts. Now some of that was mods/improvements, cosmetic things, etc, but with an E31, especially a "weekend cruiser" these are necessities. I am looking at spending $700 in parts alone just to get my sunroof working again. I get that this is a non-essential system, but these cars are a hobby - and not a cheap one. Any parts that are shared with other models are reasonable, and I even find stuff at junkyards for pennies. However E31-specific parts are ungodly expensive now. Again, there is no price that will likely make this one worth buying. The people I know who are "into their cars" the cheapest are the ones who paid the most to buy them. Get the nicest one you can find. If your budget is under $10k, it's not the right car.

[btnh]

you have 5 cars from 1991 -1993.... and your broke. i think you answered your own question.

[mr1173]

I wanted to go try and get some of my dream cars, with the 8-series being one of them.

Do not listen to them. Go for it!

When I go my 840... I was broke, just moved to a new country, had no place of my own. But thought to myself: Life is short. I'm not getting any younger. Rare cars in good shape are hard to come by. So, "it is now or never." Never regretted that decision.

I've only one advice... Do everything yourself. Do not let anyone to work on your car, they will only screw things up. (I'm sure you already know that)

[E34 5er]

Thanks for all the comments, and yes, I am technically completely broke right now, haha. But I have put all of my cars up for sale, and I hope that this will be a fresh start, and a new garage. Don't get me wrong, I'm not going to get this 8er until I sell everything I currently have. Then the next step would be to buy an E55 from my friend's dad (he's the original owner and is going to give me a great price on it) which I will use as a DD, and then this 850 as my sort of semi-project car I can work on and get it good again.

[dukegrad98]

yes, I am technically completely broke right now

I'm not going to get this 8er until I sell everything I currently have. Then the next step would be to buy an E55

This only makes sense in California -- and even there, maybe only in LA.

Cheers, John

[Belgiumbarry]

don't know California , let alone LA... but selling here in Europe a 5 "oldtimers" collection at a "reasonable" price each would take at least 2 years. Unless you are giving them away…. or they must be concours condition… the rest is export to Africa for some pocket money ….

[olinjohnston]

don't know California , let alone LA... but selling here in Europe a 5 "oldtimers" collection at a "reasonable" price each would take at least 2 years. Unless you are giving them away…. or they must be concours condition… the rest is export to Africa for some pocket money ….

Very different here. California (especially SoCal) is a haven for car lovers, especially old BMWs. They sell very easily. Part of it is that you can legally drive anything you want (in any condition) as long as it passes emissions. No state inspections, registration is comparatively cheap, insurance is cheap, and parts are readily available.

[TedBobo]

Do not listen to them. Go for it!.
I've only one advice... Do everything yourself. Do not let anyone to work on your car,

And, if possible get help from this guy on all things electrical!