$7500 Dinan E39 540i - (Not Posted in Wrong Topic:) )

OK. So I have a lead on higher mileage (166k) Dinan E39 540i for $7500. I am not buying it; someone I know is interested. If they do not buy it, I will post in the classifieds section.
With the given description below, is the car worth it?
What trouble spots should be looked at that haven't been addressed?
Would you trust the car to be a DD with maybe 3-5 track weekends for a couple of years?
If sold in two years, do you think it would hold its value?

Thanks!

Here is the description:

The GOOD the car runs great and is a beast! In the past 2 years it has had a ton of preventive work done. It was not done because it was needed but because I like peace of mind that everything is in top shape. The interior leather is in great shape except some wear to be expected on the driver’s seat. The tires have about 7k on them and are all seasons. Everything works as it should. The BAD it’s a 15 year old car so some wear and tear is to be expected. Body has some paint chips and a spot right above the rear bumper that looks like was filled and painted. The interior trim panels have some cracks in them. If I was to keep the car I would replace the shocks and struts in the next 2 years and the front suspension arms. Pixels are out in the dash (Common for these cars). The pics are older and do not have the new headlights in them. I have not had a chance yet to take recent pics of the car once I do I will update this. Also I have a set of Supersprint Headers and connecting pipes for the car new in a box. THEY ARE NOT INCLUDED in the price but are also for sale if interested. Performance parts: Dinan catback exhaust Dinan cold air intake Dinan mass air flow meter Dinan throttle body Dinan stage 5 software BMW M60 intake BMW M5 rear swaybar BMW M5 LSD 3.15 gears BMW M5 Halfshafts Turner Motorsports driveshaft ZHP shift knob Options: M5 front bumper Xenon self-leveling lights, new Depo lenses front & rear Bimmian LED halos BMW E38 M parallel forged wheels w/ polished lips Dynavin touch screen radio, cd, dvd, navigation unit, Bluetooth phone connect, w/iphone cable, unit looks completely factory Sunroof Roof rack (does not come with bike carriers) Driver and passenger power sport seats, Split rear folding seat Recent maint.: Front and rear wheel bearings Powerflex front bushings- Control arms, lower tie rods Rear suspension refresh New- 10 piece lemforder kit Cooling system New- Radiator, water pump, expansion tank, valley pan, Front hoses Timing chains and guides New- whole kit Vanos rebuild, kit from Beisan systems, new distribution housings, rings, oil valves Valve cover gaskets Engine mounts, Trans mounts Spark plugs, all eight plug coils Belts Idler pulleys New headlight adjusters Guibo, drive shaft support bearing Royal purple fluids in 6speed and rear diff. Clutch was done at 144k All associated seals and gaskets There is probably more I am missing

If your friend has the money to maintain it, go for it. I would be worried about the steering rack because those are expensive, and electrical problems. I have an E36. I just happen to be selling my car, and I did many repairs, too.

Also, people on this board have said to not take your daily driver on a track day just in case you put it in a wall. The E39 is too big a car for track days unless he or she really likes that car.

If they drive the average amount of miles a year, I think it would lose some value because a number of people would be scared to buy it; at least it should always hold monetary value over a regular 540i.

I haven't seen anybody post up problems with their steering rack on E39s, so I would say that is a non-issue.

Electronics are always a hit or miss on older BMWs. The amount of problems are far less than E39 M5's, so that is a plus. Things I've seen go wrong are just MAFs, camshaft position sensors, and coilpacks. All are fairly easy R&R jobs.

I would be more worried about the VANOS and timing chain guides. This car has had both repaired, so that is also a non-issue.

The cooling system on V8 cars are less troublesome than I6 models. This car seems to have all its maintenance bases covered and sounds like it should be a reliable car for many miles to come.

To price the car, I have no idea due to the Dinan parts. I would probably purchase that car for $6k. If it is any higher than $8k, I'd probably walk.

Edit: Just saw the $7500 asking price for it. I'd probably have one foot out the door at that price unless it goes down.

I thought the (e39) V8 cars had recirculating ball, not rack and pinion. (shrug)

They do. I'm assuming that's a mental slip, I haven't heard of any problems with them either.

The only thing I would worry about are the chain/guides.

I would redo the cooling system for the hell of it and track it.

BTW, I put in a lot of miles on an e39 540i. As much as its no e36 sizewise, it does not feel big at all driving it. It is faster than an e36 M3 as well and very capable.