Originally Posted by limenuke
The going rate on Kijiji in Toronto for these cars seems to be around 5k-6k (looks severely overpriced). You guy here on maxbimmer thinks this vehicle is worth no more than 2k-3k. Is there a reason why you guys think this car is actually worth much less than kijiji price?
Because people on Max are lowballers and some people on kijiji are dreamers.
Anyway, for 3K ( a small invest for a car), if the car is CURRENTLY in good running order, buy it and drive it with normal maintenance. Once something major happens (may or may not happen) unload it for parts. You have to keep in mind that it is an OLD, EURO car with 230K, you can't expect it to last forever (especially the V8's) if you don't want to fork out the money to maintain a 60K+ car.
Another (debatable) note on the timing chain guides, they suffer premature failure mainly due to poor oil change intervals. Just a little FYI.
For example, IMO, a lot of the things that people mention as big/common issues on e39's are just mainly due to age, front end components lasted 150K, now the car has 200K and no one has done them, well of course they need to be done, its maintenance.
Anyway, good luck, but if you are worried about longevity, I would look at the 528/530's and not buy based on price.