New E32 Owner '93 740iL

Hey everyone, new to the forum and new to BMWs. I just picked up this 740 the day before yesterday. I paid a whopping $450 for this magnificent machine. I drove it 40 miles from the sellers home to mine, and then I drove it to work the next day (60 mile round trip). It's got some issues but I am pleasantly surprised that a lot of gadgets still work. This car has just over 197,000, the motor starts right up and purrs wonderfully. The transmission on the other hand...not so much. It cruises fine on the freeway, it's the starting and below 40 mph driving where it struggles. It slips, shifts hard and then goes into safe mode (limp mode, whatever you want to call it). If I baby it, it takes longer to go into safe mode. The more I drive it the better it gets. It needs an engine oil change desperately, and I want to change out the tranny fluid as well. Anyways, what do you guys think? I'm not sure what my plans are with the car yet, I purchased it for transportation to and from work. I am going to make it the best driver I can and go from there.

Old cars are very expensive for everyday use, leave the second car for pleasure and investment.

Take it to a good Trans shop and get a trans service. Could be a simple clutch band adjustment etc. CHANGE THE ENGINE OIL!!