New Guy On The Block: Questions about a 2002 745Li before purchasing. PLEASE HELP

[rogerst]

Hey everyone, my first post here. I recently got into a car accident and now I am in line to buy a new car. I am aiming at the 2002 BMW 745Li. I was hoping you guys could help an upcoming member out.

First the specs of the car:
2002 BMW 745Li
Black with Beige interior
Mileage: 94124
Pricing: $24495

My main question is about the mileage. Is that too high? I don't make all that great of a living but can live my dreams through this car lol. Any worries about it breaking down? Anything I need to worry about with the year because it started at 2002? Any recommendations? Should I purchase the car it comes from a reputable dealership. Could you guys give me an insight on what to look for?

Thanks for your help. I am excited about getting this car and I've done my research. Thanks again!!
:)

[Seven45]

dont do it. go with a later model 03 with 50k miles or so on it. Youll be much happier. If anything i learned about having the 745 its to buy one with a good existing warranty on it. And the LI is worth the extra money, it holds value better.

[Lappy]

as far as I know, a 2002 745(l)i is a awesome car.

However, I got the standard 2 year warranty and I'm just about to use that. And my car only has about 50k miles driven.
So, I would advice to look for a car with a lower milage. I think that the age, one year younger or older shouldn't be that much of a problem.

[winger]

lappy,

What car is on your signature pic? its awesome...

[SeeYal]

go to http://www.bimmerfest.com/forums/showthread.php?t=232071

That is the car you want... !!!! and worth the xtra $:thumbup:

[Lappy]

go to http://www.bimmerfest.com/forums/showthread.php?t=232071

That is the car you want... !!!! and worth the xtra $:thumbup:Most certainly!!!
I really love the 7-series for a really small price as well.

truly as good as new.

[Lappy]

lappy,

What car is on your signature pic? its awesome...It's my 745i :) and a 650ci from a friend of mine.

I'm a photography enthousiast :)

www.heuving.eu/photography

I think I'll add some more photo's this upcoming weekend.

[Jims745i]

I have to agree, it would pay to get a 745 with less miles because you will save the extra money you paid for it in upkeep. Also, be sure to have an extended warranty. I dont think the 7 is necessarily any more prone to unusual repairs than other luxury cars, but it makes sense when your buying any used car. By the way, go for it, you will love the 745!!!:thumbup:

[Din]

03+ with lower miles.

[LBC X5]

03+ for sure.. 25k for a 7 series w/ 100k miles is about as good of a deal as it sounds..

[rogerst]

2003+ is def the year the go right? Any major differences besides the year? And about the iDrive being from older years, is it part of my warranty to upgrade the idrive software? If I do have to pay for it, how much are we talking about? Thanks again for responding so fast.

[Seven45]

newer 03 will give you warranty til 09. i bought a 02 745i with extended warranty on powertain. car leaks coolant, turned out needs a new timing cover gasket, $5200 job. good think i paid for the extended warranty, im still paying a deductable on it, but if you buy one with the factory warranty in 03 with dvd nav youll be much better off. i wish i waited. btw i got 107k on my 7er

[rogerst]

Ouch, $5200 repair costs. I am afraid of things like that lol. That is why I asked about mileage on the older years. In general I've always figured the more miles the increased likelyhood of something like that happening. Some people say that their cars still run strong just like day one (with maintenance of course). This will also be my first BMW. Is the engine reliable in the sense that it isn't prone to breaking down on the 7-series (once again as long as it is maintained)? I don't make a great living and I don't want to incur some bogus high dollared bill every few months. I am skilled enough to do my own oil changes and brakes. Can anything else come up for this car that is common that can't be fixed by the common man? Thanks!!

[BmW745On19's]

I just got my car back from the shop today. They replaced a transmission gasket (a little fluid was leaking, they said), both new headlights, door sills, and gas pedal. Grand total? $80 for a diagnostic fee. All under warranty. How great is that? :D

To the OP, I wouldn't buy that car. Sounds like it's been driven long and hard to me. Get something with a warranty.

Follow the old saying too, you get what you pay for.

[rogerst]

How does the warranty work if I buy one at a used car dealership? Warranty through the dealership or is it given by BMW already? I am clueless and ust want to make sure. Thanks

[BmW745On19's]

How does the warranty work if I buy one at a used car dealership? Warranty through the dealership or is it given by BMW already? I am clueless and ust want to make sure. Thanks

If it's a BMW CPO, they usually have the price cranked up a lot.

If its an '02, it has a 6 year or 100k mile warranty that covers everything except wear items (like oil changes, brakes, etc.).

Not sure if '03s got the extension.

If its just some car at a random dealership (non-BMW), it might have a warranty. It all depends.

There are also two different types of warranties.

BMW sells these cars New with a 3 year/50k mile warranty and 3 year/50k miles of free maintenance (everything is covered, in essence).

On the '02s, there were some concerns about their reliability, so BMW automatically gave every '02 a 6 year 100k mile regular warranty. Some owners could have opted to extend their maintenance to 6 years and 100k miles as well, for around $2k.

All BMW warranties are 100% transferable, meaning if the car is at a lot and has a warranty, you'll buy the car and it will have a warranty too. This also means that if a person owns the car, and it has a warranty for them, you can buy it and have the warranty too.

[rogerst]

So 03's don't have that additional warranty the way BMW went ahead and upped it on the 02's? Any idea how much an extended warranty in general would run from the dealership?

[BmW745On19's]

So 03's don't have that additional warranty the way BMW went ahead and upped it on the 02's? Any idea how much an extended warranty in general would run from the dealership?

Probably couldn't get a warranty from a dealership unless it is a BMW dealership you're buying it from.

It all depends on the previous owner too, they could have opted to extend the regular warranty to 6 years/100k miles (just like with maintenance), but many probably didn't.

For around $25k, the biggest bang for your buck IMO is a 2003-5 Jaguar S-Type R. Those cars are rockets, look fantastic, and are really cheap with low miles.

I recommend these (http://texascarsdirect.com/PublicWeb/UI/WebForms2/InventoryList.aspx) guys. All their cars either have warranties, or you can buy a factory warranty from them. All their cars are top notch too. :thumbup:

XJRs are also in that price range. Check out this (http://texascarsdirect.com/PublicWeb/UI/WebForms2/InventoryDetail.aspx?id=4163B)one.

[sunny_j]

why dont you buy bmw745on19's car. its a 02 but i think he had 0 major problems. and you have warranty.

[diznik007]

I was in the same shoes you are about 7 months ago... After doing research for several months, I discovered that the 02 e65 had significant problems as opposed to 03 and up models. Having said that, as long as the previous owner had all the problems fixed (recalls, software updates), then it shouldn't be a problem. Also, the 02 and 03 models came with a 6year/100,000 mile warranty compared to the 4yr/50k that came with my 04. However my 04 only had 16k miles when I purchased it so major problems probably not an issue. With 95k miles on the 02- it may be a concern. I think you may want to consider spending the extra cash and getting an 03 with lower mileage. Good luck in your search. It took me a while and finally I ended up sepending 15K more than I anticipated.

[erunithug]

BmW745On19's - what was the $80 diagnostic fee for?

[BmW745On19's]

BmW745On19's - what was the $80 diagnostic fee for?

Sorry, it was $63 for "standard scope" and $123 for "vehicle check to BMW specs".

It's just some BS when all they needed to do was reset the light. :rolleyes:

I'm not complaing though, they did $3k worth of repairs for $200, that's a deal to me.

You can just call me BmW745, if you prefer. :)

[erunithug]

but shouldnt all that be covered under warranty? i thought you dont have to pay anything for warranty issues.
and i just copied and pasted your name, but from now on ill just call you BmW745.:)

[BmW745On19's]

but shouldnt all that be covered under warranty? i thought you dont have to pay anything for warranty issues.
and i just copied and pasted your name, but from now on ill just call you BmW745.:)

It wasn't a warranty issue, it was a maintenance issue that the car was originally in for (the scheduled "Vehicle Check" light went on) There was nothing really wrong with the car that needed service, I just didn't want to drive around with a car with a red light on.

[rogerst]

Yeah, I'll shop around a bit more and try to end up with an 03+ with lower mileage. I will get what I pay for. I'm trying to aim at a white one now and definitely an Li. Thanks for everyone's help.

[asci01]

All '03 also have the 6 yr/100K warranty extension thru BMW

[rogerst]

Cool thanks, I'll definitely try for 03+ with lower mileage.