2001 E38 value?

[The6thRider]

Hi all, I need some advice from hardcore fans I'm looking at a very clean 2001 740i with 65k (verified). It has no leaks and it drives like new. The car was garaged (it shows) and maintained (with receipts). The only mods were the use of 17" wheels (stock BMW for the that model year) to replace the original 16" wheels. Tires are 1 year old and have less than 5k miles. No accident, 1 owner who passed away. What's a fair price nowadays? Thanks!

[Stillife]

Hi all, I need some advice from hardcore fans I'm looking at a very clean 2001 740i with 65k (verified). It has no leaks and it drives like new. The car was garaged (it shows) and maintained (with receipts). The only mods were the use of 17" wheels (stock BMW for the that model year) to replace the original 16" wheels. Tires are 1 year old and have less than 5k miles. No accident, 1 owner who passed away. What's a fair price nowadays? Thanks!

Well 65k is low and the 01 shorts are some of the more valuable models. Id say 5k is fair (6-7 if its a true sport vin) if the interior is truly immaculate. However just because its only 65k doesn't mean larger repairs are not just around the corner. Especially if the car has sat for long periods of time. Its a 20 year old car no matter what and the computer modules tends to need attention no matter the miles after two decades. Timing chain guides and tranny issues are usually reserved for the 100-120+k crowd buuuut anything rubber or electronic is gonna need maintenance.

[georgebest]

Well 65k is low and the 01 shorts are some of the more valuable models. Id say 5k is fair (6-7 if its a true sport vin) if the interior is truly immaculate. However just because its only 65k doesn't mean larger repairs are not just around the corner. Especially if the car has sat for long periods of time. Its a 20 year old car no matter what and the computer modules tends to need attention no matter the miles after two decades. Timing chain guides and tranny issues are usually reserved for the 100-120+k crowd buuuut anything rubber or electronic is gonna need maintenance.

I think if it's really "very clean" and all maintenance work done the price could be higher, even in $10K range. Of course, "very clean" could mean different things

[CPHES]

What are they asking for it?

[aom7]

If it had 16", then it's probably not a Sport, decreasing its value a bit. Then like Sillife mentioned, if it doesn't leak now, it will the second you start driving it. plus right around 100k is when everything starts going bad (alternator failure, Power Steering, AC Compressor, etc are all very common that 100k).

5k is as high as I'd go and only because of the miles. If it were a Sporty shorty w/ 65k... it'd be 10k all day.

[alexisonfire]

If it had 16", then it's probably not a Sport, decreasing its value a bit. Then like Sillife mentioned, if it doesn't leak now, it will the second you start driving it. plus right around 100k is when everything starts going bad (alternator failure, Power Steering, AC Compressor, etc are all very common that 100k).

5k is as high as I'd go and only because of the miles. If it were a Sporty shorty w/ 65k... it'd be 10k all day.

yup..had a e53 x5 4.4 with only 100,789 miles on it and everything failed shortly after i got it. p/s pump died about a month later, alt died as soon as i got home but was fine an hour before and the w/p died about a month later as well and all right before 101k miles. also.. a/c compressor was junk when i got the car.

[aom7]

yup..had a e53 x5 4.4 with only 100,789 miles on it and everything failed shortly after i got it. p/s pump died about a month later, alt died as soon as i got home but was fine an hour before and the w/p died about a month later as well and all right before 101k miles. also.. a/c compressor was junk when i got the car.

FWIW, I thought maybe BMW got better with newer cars. So I bought an F01 750i... by 60k miles, if it didn't have warranty, I'd have been out maybe 10k, there were so many things wrong with that engine, I can't even begin to tell you. The biggest piece of junk I ever bought. So in retrospect, the 100k failure point for the E38.. is pretty good, lol!

[kouks]

If it were a Sporty shorty w/ 65k... it'd be 10k all day.

Hmmm. I bought a Sport with 91k, CA car with no rust, and DINAN mod with badge, about $4,500. It was a salvage title due to rear bumper damage, but no frame issues. It's a really fun car.

[aom7]

Hmmm. I bought a Sport with 91k, CA car with no rust, and DINAN mod with badge, about $4,500. It was a salvage title due to rear bumper damage, but no frame issues. It's a really fun car.

Assuming it's an 01, that's about right for a salvage title with that mileage. If it were just an accident listed.. it'd be closer to 6500, if clean title...easily 8-9k.

[The6thRider]

Hi all, thanks for the insight. It's a regular 740i, not sport, not long. Clean title. Previous owner had many things changed (with receipts) as age does its thing. I do agree that even if it doesn't leak now, it's a short matter of time before it starts. They're asking $8k for it.

PXL_20200923_014809010.jpg PXL_20200923_015116914.jpg

[aom7]

For 8k and non sport with no real packages except Nav,. I'd pass. It's overpriced, even for miles, by about 3k. It seems like they're trying to price it like a Sport.

I'd just rather buy a sport with a lot more miles, even for the same price. The two are almost completely different cars (Sport vs. Non-Sport)

[Thresher]

However just because its only 65k doesn't mean larger repairs are not just around the corner. Especially if the car has sat for long periods of time. Its a 20 year old car no matter what and the computer modules tends to need attention no matter the miles after two decades. Timing chain guides and tranny issues are usually reserved for the 100-120+k crowd buuuut anything rubber or electronic is gonna need maintenance.

Well said. I paid $6,000 for my 740iL in 2018 w/ 164,xxx miles. A bit on the steep side, but interior and paint were excellent and the paint was Biarritz Blue, which appears to be less common that black, silver/gray or white. I have spent more than what I paid for the car in necessary, immediate repairs, as well as normal maintenance costs. That said, I am still very happy with the car. Just realize, your first year maintenance/repair costs may be higher than normal. And, in 2020 my ongoing maintenance costs are well under control.

It's a regular 740i, not sport, not long. Clean title. Previous owner had many things changed (with receipts) as age does its thing. I do agree that even if it doesn't leak now, it's a short matter of time before it starts. They're asking $8k for it.

PXL_20200923_014809010.jpg PXL_20200923_015116914.jpg

The pictures look nice! Does the car have the EDC suspension?

Some suggestions:

First, since car is in California, if the seller has not already obtained a state smog certificate, ask them to get it (California seems to require this for the sale). If it can't pass smog, you know something is odd...
Second, ask to have the car inspected and be prepared to make an offer based on the inspection findings -- make sure the inspection includes checking for fault codes. Not all fault codes need to be addressed, but you should be aware of what is lurking...

The BMW dealer near me charged about $200 in 2018 to do a pre-purchase inspection that I paid for. Seller and I both got copies of the report. The report also included an estimate for fixing the major findings.

I don't know that I would pay $8,000 simply because I know you will have things to address, especially if this car has been sitting idle. Upwards of $7,000 maybe based on mileage and a generally healthy inspection report. Lack of proof that the timing chains have been done would make me negotiate lower. FWIW, timing chains on my car were done by previous owner at a shop in Roseville, CA in 2015 for $5,795. Previous owner then had same shop replace transmission and torque converter with a rebuilt one for $3,436, also in 2015. No idea if those costs were fair or not, I only mention it because I have the receipts for the work and the repair costs certainly caught my attention.

Hopefully that doesn't scare you off from this car. Finding a low mileage E38 in very clean condition is exciting. I think your biggest concern is the state of the timing chains and anything else deemed major coming out of a pre-purchase inspection.

Oh, if you are a AAA member, have them handle the sale and registration paperwork. They make it so easy to ensure all paperwork is completed and registered correctly.

[NastyNate740i]

If you decide to pass on it could you send me the info on it?


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