'96 740IL for $4K????

I saw this '96 740IL on Autotrader for $4K and couldn't believe it. The car only has 111K on the clock too! This is too good to be true isn't it?

http://www.autotrader.com/fyc/vdp.js...standard=false

Well not really too good to be true, sure the price is low, but honestly what do you think its worth? Its 13 years old, has over 100k. In perfect condition its worth $7000 maybe? And that sounds high to me...check it out if your interested.

We are reaching a point where incredibly nice cars are becoming affordable for just about anyone.

I'd say it's a terrific price, unless the car has major problems.

I'm not really looking for a 7 series right now, I stumbled across it as I was looking for a cheap car for a friend. I was just very, very surprised to see a car that originally retailed around $65k - $75k going for $4k. That's around 94% depreciation which seems incredible for a 7-series. What does that say about the inherent value of these cars new?

Originally Posted by 2004BMW325Ci

I'm not really looking for a 7 series right now, I stumbled across it as I was looking for a cheap car for a friend. I was just very, very surprised to see a car that originally retailed around $65k - $75k going for $4k. That's around 94% depreciation which seems incredible for a 7-series. What does that say about the inherent value of these cars new?

The reason for these cars not holding their value is...

1: The type of people that buy these cars do not want secondhand models. They can afford the best, so why buy secondhand. This causes the value of the car to plumit rather quickly, until you eventually reach a 94% depreciation after 13 years. Eventually these cars will literally be worthless as no one will want one as the technology and engineering will be too dated... BTW... this is great news for enthusiasts like us

2: The cost of repairing these cars is crazy. I myself am being faced with a gearbox replacement bill of $2500 for my 98 model 740I that has 103 000 miles on the clock. People dont want these types of cost in their lives, so they generally dont buy cars that are this old...

Originally Posted by 2004BMW325Ci

I saw this '96 740IL on Autotrader for $4K and couldn't believe it. The car only has 111K on the clock too! This is too good to be true isn't it?

That's exactly why the "imbecile" (from the other thread) can afford to buy it .. and then he crashed it

2: The cost of repairing these cars is crazy. I myself am being faced with a gearbox replacement bill of $2500 for my 98 model 740I that has 103 000 miles on the clock. People dont want these types of cost in their lives, so they generally dont buy cars that are this old...[/QUOTE]


i hear you man, i had to pay a 1,000 repair bill just recently

i hear you man, i had to pay a 1,000 repair bill just recently

I've paid that much on a 06. I mean is that anything new with any year of these cars? Though all around I see the point most in this thread are making. It's still spread out though on just about any year.

Originally Posted by Beemaboy

The reason for these cars not holding their value is...

1: The type of people that buy these cars do not want secondhand models. They can afford the best, so why buy secondhand. This causes the value of the car to plumit rather quickly, until you eventually reach a 94% depreciation after 13 years. Eventually these cars will literally be worthless as no one will want one as the technology and engineering will be too dated... BTW... this is great news for enthusiasts like us

2: The cost of repairing these cars is crazy. I myself am being faced with a gearbox replacement bill of $2500 for my 98 model 740I that has 103 000 miles on the clock. People dont want these types of cost in their lives, so they generally dont buy cars that are this old...

On the flip side, I just replaced the transmission in my 98 Chevy 4x4 (59,000 miles) at a cost of $2588. so the make of the car is sometimes irrelevant.