Any chance anyone here could talk me out of buying a 2001 BMW 740iL?

I found this:

Here:

https://www.iaai.com/Vehicle?itemID=30196625&RowNumber=70&loadRecent=True

which looks to be totaled due to a dent in the driver's door. I'm seriously considering picking it up for a winter driver, if it goes in the super low price range I have imagined it going for in my head. Please, could someone talk me out of it? It would be car # 6, numbers 4 and 5 need to go already and I want something newer but this is speaking to me and saying it will get me through this winter and beyond with zero work given the low miles. I think it's lying to me.

A lot of people on here love those things.  You're even less likely than usual to get talked out of it.

....Here?

Only if we were going to talk you into a 750

Seems like it'd be a good deal, and I believe they were relatively stout vehicles. Certainly they were before the overcomplicated era of Bimmers. 

Nope. Deferred maintenance and repair with two young kids at home....

Trust me. I bought a good one and it still kicked my butt. 

It looks like an old Buick. 

Take the VIN to a BMW dealer and see if you can convince them to run the service history on it for you. Technically they're only supposed to do it for the registered owner, but I've had good luck when I explained I was interested in buying the car and wanted to check the records. If it's been dealer maintained, go for it. If not, you are playing Russian roulette with timing chain guides, not to mention lots of other stuff that, while it won't leave you stranded (mostly), still won't be right.

It doesn’t have m parallels 

There is a reason German luxury cars go from $70k to $1500 in 15 years.

I won't tell you no, but I won't encourage you either. 

Dusterbd13-michael said:

Nope. Deferred maintenance and repair with two young kids at home....

Trust me. I bought a good one and it still kicked my butt. 

Voice of reason here ... I'll consider it some more. I'm thinking if it goes for "drive it until it breaks then do a light part-out and still make good money" type price maybe.

dculberson said:

Dusterbd13-michael said:

Nope. Deferred maintenance and repair with two young kids at home....

Trust me. I bought a good one and it still kicked my butt. 

Voice of reason here ... I'll consider it some more. I'm thinking if it goes for "drive it until it breaks then do a light part-out and still make good money" type price maybe.

Maybe another Lexus is in the cards...

Buy it.  Drive it. When it needs a major repair then part it out. 

Also see the Toyota Sequoia that Columbus has this week.  Light front bump requires a side marker. Bent antenna, and some light scratching on the side. 

For either, see them in person (Tues) before bidding. 

https://www.iaai.com/Vehicle?itemID=30131007&RowNumber=4&loadRecent=True

Toyman01 said:

There is a reason German luxury cars go from $70k to $1500 in 15 years.

I won't tell you no, but I won't encourage you either. 

 

Because people want NEW German luxury cars, not USED ones?

Same reason why Suburbans depreciate like rocks but pickups hold their value even though it's the same thing mechanically.  Pickups have utility, Suburbans are mostly a status symbol.  Guy who wants a pickup doesn't care how old it is as long as it hauls and tows okay.

If the instrument cluster is a Christmas tree, that is a bad sign.  But run-down used German luxury cars and well-maintained used German luxury cars are quite similar in value.

I've been searching for a new DD and didn't need to see that. 

In reply to Knurled. :

That Suburban logic falls the same on the Sequoia.  If it were a Toyota Tundra it would bring twice the price. 

Oh man... I've had thoughts of grabbing a classic classy BMW just like that one.....to haul our new dog around in . There have been several <$1k pop up lately.

Is that old enough to have the bad cylinder walls?  Or is that just in the cold weather?

Toyman01 said:

There is a reason German luxury cars go from $70k to $1500 in 15 years.

I won't tell you no, but I won't encourage you either. 

 

Agreed, but there are some diamonds in the rough.  Early Mercs, Jag XJR, for example.  They tank in value because they are associated with their brothers and sisters, but they stand out as pretty reliable rides.

The 01 7-series was the only year they did the sport package in the iL  I would personally hold out for a sport iL, but they're pretty rare these days.  You could upgrade with sport pieces.

From what I recall, radiators and catalysts like to die frequently.  Radiators can be found pretty cheap, but cats are stoopid expensive... like $1300 each.  You might be able to sneak by with the universal replacements depending on where you live, but expect CELs if you do.

Otherwise you can expect the dumb little BMW electrical fiddles from that era.  If you replace a brake light bulb with a regular parts store bulb, it will not read the resistance correctly and give you a "brake light" warning.  Get the silver-base Long Life bulbs and you'll be generally OK, but a brass base standard bulb won't cut it.

To update this thread, the pre-bidding went to $1500 which was more than I was willing to pay. I didn’t pay attention to the auction itself. 

Good call.

dculberson said:

To update this thread, the pre-bidding went to $1500 which was more than I was willing to pay. I didn’t pay attention to the auction itself. 

I had added that BMW and the Sequoia to my watchlist.  I was at the desk yesterday.  I did not see the BMW go live but i could see that the high bid was $1,850 which would be $2,428 after fees.  

I did see the Sequoia go live.  Pre-bidding ended at $1,300.  Live bidding went to $1,550 which would require $2,068 with fees.  Most interesting about the Sequoia was that the winning online bidder was from Benghazi.  Yeah, north Africa, Libya on the Mediterranean Sea.

Did you see either car in person?  

I've owned one BMW in my life.  It had a carburetor.  It was still unreliable.  That right there is all I ever need to know about BMWs.  

Knurled. said:

Same reason why Suburbans depreciate like rocks but pickups hold their value even though it's the same thing mechanically.  Pickups have utility, Suburbans are mostly a status symbol.  Guy who wants a pickup doesn't care how old it is as long as it hauls and tows okay.

 

This is why the wife drives an old Suburban as a kiddy/ family hauler.  It's got the capability of a truck (with a permanent cap) if we need it, it's rugged, and our status is somewhere between "redneck" and "white trash" so the fact that it's at the bottom of its depreciation curve matters not to us.  

In reply to John Welsh :

No, I didn't bother to look in person since the pre-bidding was higher than my limit already.

I can't imagine the total cost of that Sequoia once it makes it to Benghazi!