Ok so here is my laundry list of problems:
Quarter panel needs to be replaced ($1200)
Clutch needs to be replaced ($500-700, e28 flywheel)
Instrument cluster problem: fuel level, economy, and engine temp gauges don't work, probably capacitors ($10-300, depending on what is wrong)
Power steering leak somewhere, air getting into system, fluid is foamy and pink ($???)
This isn't all, but the most expensive ones that come easily to mind.

I currently am at 190k miles. There is another forum member with a black/parchment 89 535iM with 186k on the clock in much better shape, has a lot less (if any) problems than my 89 has, and (judging from pictures) NO RUST! He is asking around $5000 for it. Problem is, he lives in CT, I am in MI, but I have a friend who lives in the same city as he does who can look at it and take detailed pictures for me before i fly/bus/walk out there.

My plan, if I buy his 5, was to part mine out and then sell/scrap what was left, or keep it around in case I need parts that don't get bought.

My question is this: would it be more cost effective to keep dumping money I don't have into my current e34, only to have other neglected things break, or should I bite the bullet, get a loan, and buy his? Keep in mind I am a college student, as well as intend to get married May 09.

What should I do?

get a loanNo.

Ok so here is my laundry list of problems:
Quarter panel needs to be replaced ($1200)
Clutch needs to be replaced ($500-700, e28 flywheel)
Instrument cluster problem: fuel level, economy, and engine temp gauges don't work, probably capacitors ($10-300, depending on what is wrong)
Power steering leak somewhere, air getting into system, fluid is foamy and pink ($???)
This isn't all, but the most expensive ones that come easily to mind.

I currently am at 190k miles. There is another forum member with a black/parchment 89 535iM with 186k on the clock in much better shape, has a lot less (if any) problems than my 89 has, and (judging from pictures) NO RUST! He is asking around $5000 for it. Problem is, he lives in CT, I am in MI, but I have a friend who lives in the same city as he does who can look at it and take detailed pictures for me before i fly/bus/walk out there.

My plan, if I buy his 5, was to part mine out and then sell/scrap what was left, or keep it around in case I need parts that don't get bought.

My question is this: would it be more cost effective to keep dumping money I don't have into my current e34, only to have other neglected things break, or should I bite the bullet, get a loan, and buy his? Keep in mind I am a college student, as well as intend to get married May 09.

What should I do?

I'd say it depends on the overall condition of your current car - how much you can expect to go wrong due to neglect/abnormal damage (rather than simple age or wear).

Is the quarterpanel rusty or dented? If it's the latter, then the only indication so far that your car has issues is the instrument cluster and PS stuff - clutches are designed to wear, and quarterpanels aren't exactly the sort of thing that needs regular maintenance. Getting tboned by a Costco shopping cart loaded with car batteries could happen to any car regardless of condition or previous maintenance (except a Protection Series 7, I suppose...).

Based on what you've described, I would fix at least the temp gauge (because that's what one relies on to know when the weakest part of an E34 is having problems), replace the clutch, and start poking around in the PS assembly, in that order. You might be able to replace the entire instrument cluster with one from somebody's parts car. I don't know what they go for, but certainly less than 300 bucks. Put up with the quarterpanel - it's not like you were supporting yourself on the the carshow prizes it'll make you lose.

Keep in mind I am a college student, as well as intend to get married May 09.

What should I do?

Dump the wife and invest in the E34. You'll be happier (and wealthier) in the long run.;)

You know the issues with your car and you don't in his.

How much can you get for your car without spending $$ on it? The difference is the premium your paying for not having to fix your car and buying his.

His is an older used $5000 BMW. It too can develop problems that you will have to deal with on top of your loan.


Good luck
Don

Without fixing it, maybe $3000. After spending about $2000-3000 to fix it up, maybe $4500. So I am still losing money here, right?

Without fixing it, maybe $3000. After spending about $2000-3000 to fix it up, maybe $4500. So I am still losing money here, right?

You started losing money the moment you wrote a check to the PO (or handed them a briefcase full of cash, or performed sexual favors, or however you paid for it). Strictly speaking, you're going to lose money regardless of what you do. You're going to do this because of some combination of liking your car, and needing it. It's pretty much how owning a car works. The question is which costs you less, in terms of money and headaches/etc. Given these numbers especially, fixing yours up makes a lot more sense.

Ohnoes can help you and Antrieb get a loan on a nice new M3:shifty.









Seriously, sounds like the better idea to just slowly fix your car back up. Whats the damage like on the qp? Or, you might find a touring for the extra space you'll need in 5yrs.;) Personally, Itd be my luck to drive the car back across the country and have everything break on the way back.