'92 750iL

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So I went to the Food Lion Auto Fair this morning, I'll tell you guys about that later, but right now I want to tell you about this 7 I saw there that I'm considering buying. It's a '92 750iL, the guy wants $7,500 obo for it. It's the decked out one, V12, longer than a normal 7(At least the doors are), and it's got a phone lol. It looked to be in really nice shape, and KBB said it was $5,200-$5,700 depending on its condition(private party value). We looked at it briefly, and it didn't appear to be leaking or anything anywhere, except that dad said something was on the gas tank. The problem is, it's got the V12, and the milage on it is only 12/18 =S. I haven't looked at insurance costs, but it looks like it'll be right on the edge of what I can afford, aside from the fact that I don't have $5,000 right at the moment, although a loan is a possibility. I think dad would let me use the Accord for a trade in though, so that would help. I took only two pics of it :banghead: , wish I'd taken more, but here are the two-
http://i22.photobucket.com/albums/b335/WoodElfArcher20/Cars/7ext.jpg
http://i22.photobucket.com/albums/b335/WoodElfArcher20/Cars/7int.jpg

So I guess I want to know if any of you guys have advice or could share some personal experiences with this car. One more thing, I'd almost prefer a 5 series of the same year or slightly newer, but I poked around this one a little bit, and really liked it from what I saw. Thanks!

posted by  jedimario

I hope you realize that there's more involved with owning a car than just how much it costs and gas prices. Have you looked into what repair costs are going to be for a 16 year old BMW??? How much is insurance going to be for a 16 year old super luxury BMW (this is a 750 afterall)??? How much gas is gonna cost you in your area (V12)??? I assume this is going to be your daily driver. The real question is, at 17, can you afford a BMW??? Remember, you have to allow yourself some wiggleroom when buying a car. You never really know if there are any small problems that must get taken care of befire they lead to bigger problems .
If the answer to that one important question is, yes, Mummy and Daddy will take care of everything, then by all means, go for it. :2cents:

posted by  elchango36

As nice as that car is, and as much as I love it, she just isn't suitable as a daily driver, at least for a teenager. I'd look for something with a bit less power and a more reliable. :2cents:

posted by  chris_knows

Those cars have the worst reliability of their class, the things break down every couple thousand miles, not to mention the parts costs for them. :banghead:

posted by  99integra

Hmm, I just looked up the insurance, and well it's morw than $3000 for 6 months, which is kinda weird, a much newer S2000 was only like $900. Oh well, forget it lol

posted by  jedimario

There's a reason why you don't see many middle class people driving around in upper class cars...they're not affordable/practical.

posted by  elchango36

Holy crap! Such negativity!

The car is overpriced. That generation 750 is going to sell for less than $5k in nice shape, as the following generation is now in the $7k range. I was looking into 740i and 750iL's for most of this year.

On to the rest, the 750iL is a plenty reliable daily driver. It's the '740i and 740iL from '92-96 to be wary of, unless the engine has already been replaced (due to the nikasil situation in the US cars). Yes, repairs CAN get pricey, but they aren't needed often. the V12 is a silid, dependable engine and other than the water pump and the digital mileage display, all the accessories are, too.

Insurance on one is fairly cheap, too, as they are older cars, so you can get much lower cost insurance on them. Fuel mileage is shit, but at that price, it really is unimportant, as the total cost of ownership is very low compared to a new economy car.

Too many people are scared to own a top of the line luxury car because most people have serious misconceptions about the frequency and severity of the POSSIBLE repairs.

posted by  ChrisV

No, it's because most people 1) don't know any better, and 2) are simply buying appliances, and the newer the better. SMART people buy used top of the line luxury cars that have already taken the depreciation hit.

posted by  ChrisV

Those cars are BEAUTIFUL! I've driven a '89 model w/ a little over 62K on it and let me tell you theres nothing like it. Its what made me fal in love with German cars. They have great reliability too, they just require a little more attention than other cars, but if you keep up with maintenance then they'll never fail you. Theres nothing like European quality.

Go for it :mrgreen: :thumbs:

posted by  SlipKnoT

Plus its huge. Sometimes I wish I had a smaller car as a first car and the Camry isnt all that huge. This is the flagship sedan thats also extended. But, hey, it you want it, get it. :thumbs:

I just think its funny the guy still has his groceries in the passenger seat. :laughing:

posted by  StiMan

I see. I only had to time to look up rates from one company, and that rate is for normal coverage. I'm gonna look some more, dad says rates can vary largely from company to company. I'm still baffled about the difference between the S2000 and this car though.

posted by  jedimario

Where I like the older 7-series' I'd suggest looking in the direction of a 5-Series of the same year:thumbs:

posted by  Cliffy

Hello, in Europe that car is not worth nor 2000€ (~1800$)

posted by  Euspa

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