Hi everyone, I'm looking to buy a used 7 series, and I've been drawn towards the BMW 740il or 740i E38. Their sticker prices are attractive, and I love the look of that era of BMW. However I don't want to buy a money pit and wanted to ask some more experienced people their opinions to save myself some trouble down the road. I'm eyeing a few different ones right now, but I can say that they will definitely be between a 1998 and 2001, have less than 110,000 miles, and that they will be thoroughly checked for any surface level problems before purchase like rust and such. However are there any glaring problems that would cost me thousands of dollars with this car? I know this is probably a really hard question to answer and that the answer is specific to each car, but any advice you could offer would be greatly appreciated. Thanks!
kevinakerberg
After the warranty ends the prices DROP! DIY is a must unless you have deep pockets. If you like keeping the car in good shape as a DD it can still nickel and dime you to insanity even without the big issues.
Since you specified you are looking at the 4.4L V8's, big problems are the timing chain guides and downgraded transmission. Timing chain guides are plastic coated and have been known to break apart between 125k-275k miles but at this point age may be as big a factor as mileage. Removing the timing covers to inspect the guides is quite a job so usually people just drop the oil pan and check for plastic pieces sitting in it. A good maintenance item to help preserve them is to change the tensioner ($100 & 15 minutes). As for the transmission the best thing to do is go for a long test drive from a COLD start and pay close attention to every shift. It seems when they went to a bigger engine they also went to a smaller trans, along with saying it had "Lifetime Fluid"! A fluid (gravity drain & refill) and filter change should be high on your maintenance list.
Nickel and dime stuff: window regulators, cup holders, radio/NAV, cluster or MID pixels, heater control valves, FSR/blower motor, ignition switch, driver seat control module, fuel pump.
Around 100k there is a good chance those cars will be due for tires, brakes & suspension (EDC is $$$$).
Before a test drive check every button/switch/light/option to its full extent (ex. each window fully down & up). Speaking of lights, with the key turned but engine off make sure all the warning lights work on the cluster. If you find one you like take it to someone very familiar with 15-20yo BMW's for a PPI, usually a dealership is great for this but ask around for your area. A stack of receipts/records is always nice to see from the sellor also.
Sent from the future using the app downloaded to my neural implant.
Since you specified you are looking at the 4.4L V8's, big problems are the timing chain guides and downgraded transmission. Timing chain guides are plastic coated and have been known to break apart between 125k-275k miles but at this point age may be as big a factor as mileage. Removing the timing covers to inspect the guides is quite a job so usually people just drop the oil pan and check for plastic pieces sitting in it. A good maintenance item to help preserve them is to change the tensioner ($100 & 15 minutes). As for the transmission the best thing to do is go for a long test drive from a COLD start and pay close attention to every shift. It seems when they went to a bigger engine they also went to a smaller trans, along with saying it had "Lifetime Fluid"! A fluid (gravity drain & refill) and filter change should be high on your maintenance list.
Nickel and dime stuff: window regulators, cup holders, radio/NAV, cluster or MID pixels, heater control valves, FSR/blower motor, ignition switch, driver seat control module, fuel pump.
Around 100k there is a good chance those cars will be due for tires, brakes & suspension (EDC is $$$$).
Before a test drive check every button/switch/light/option to its full extent (ex. each window fully down & up). Speaking of lights, with the key turned but engine off make sure all the warning lights work on the cluster. If you find one you like take it to someone very familiar with 15-20yo BMW's for a PPI, usually a dealership is great for this but ask around for your area. A stack of receipts/records is always nice to see from the sellor also.
Sent from the future using the app downloaded to my neural implant.
Just remember that once a flagship luxury vehicle...always a flagship luxury vehicle. Thus even when the market price drops to levels that seem to be a bargain...the upkeep & maintenance is still that of a luxury flagship vehicle.
The technical & electronics & comfort features are nice luxuries that some newer cars still may not have in equivalence...but again, the upkeep of these features is what keeps maintenance higher than a non luxury or sport luxury vehicle. So consider the overall upkeep of the vehicle and figure that into the cost of ownership...not just the entry price. Not considering the upkeep is what makes many used luxury vehicles "dogs" to own if not selected carefully. The entry price is low enough for just about anyone to purchase one...but then when maintenance issues arise...the owner puts it off or neglects it...and the condition worsens along with causing adjoining issues...and the car becomes a bottomless pit of maintenance horrors. Then they dump it on the market.
Know what your getting but also know what it takes to maintain it. That will make for a happy and better ownership 90% of the time.
E38 Buyer's Guide (from 2009): http://bimmerboard.com/members/q/or...members/q/original/E38 Market Update Buyer Guide e23_e24_e31_e32_e38 6-2007.pdf
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The technical & electronics & comfort features are nice luxuries that some newer cars still may not have in equivalence...but again, the upkeep of these features is what keeps maintenance higher than a non luxury or sport luxury vehicle. So consider the overall upkeep of the vehicle and figure that into the cost of ownership...not just the entry price. Not considering the upkeep is what makes many used luxury vehicles "dogs" to own if not selected carefully. The entry price is low enough for just about anyone to purchase one...but then when maintenance issues arise...the owner puts it off or neglects it...and the condition worsens along with causing adjoining issues...and the car becomes a bottomless pit of maintenance horrors. Then they dump it on the market.
Know what your getting but also know what it takes to maintain it. That will make for a happy and better ownership 90% of the time.
E38 Buyer's Guide (from 2009): http://bimmerboard.com/members/q/or...members/q/original/E38 Market Update Buyer Guide e23_e24_e31_e32_e38 6-2007.pdf
Owning one of these beasts requires commitment. Quite simply, if you can't do at least some repairs, don't want to do them or can't afford for someone else to do them, then forget it. The secret is to keep up with things as they happen or the car soon becomes a money pit the you will want rid of.
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