2003 540i M Sport Buying Advice

[b519]

My neighbor is selling a 2003 540i M Sport for $5k. I was thinking about buying it, but my background is with Nissan and I do not know anything about BMWs. I know there are some common rust spots which I will check when I look at the car. Besides that, do you guys think this would be a good deal? There are about 85k miles on the car. Thanks

[BadgerPride]

Depends on the condition. 5K means it will need some work. Timing chain, cooling system, gaskets (valve cover, upper timing, lower timing, upper oil pan). Since it is a 2003, your entire suspension will need to be changed (control arms, struts/shocks/springs). It adds up if you don't do your own work.

Common spots are gas in the gas cap, wheel wells, and generally under the body. I lived in Wisconsin for 5 years and my E39 was badly rusted after 16 years at the time.

[LuvMyE92]

I presume that the seller knows what he/she has, and if it's priced at 5K there's a reason for it. If it's a nice car, with that kind of miles, it's worth closer to $10K than $5K, so figure it needs $5 worth of work.

The problem with old BMWs is that they are cheap to buy, but many parts prices still reflect that it was a $80K car (in today's dollars) when new. And it's 20 years old, so there will be a lot of things that need attention.