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Thread: When do you stop spending money on the car?

  1. #1
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    When do you stop spending money on the car?

    MY 535 has 250k+ on the clock. It needs the full front/rear suspension replacement due to all the worn bushings/ball joints up front. Need shocks/struts all around. Needs new tires since the suspension wore them out.

    Left rear door is smashed in now thanks to a stupid ass deer.

    Engine runs pretty well, but could use an oil seal up front as well as an oil pan gasket. Headgasket was done not too long ago, so that won't need to be done in the future. Needs oil cannister. Needs brake master cylinder.

    Got rust on some of the doors. Paint is pretty crappy.

    Looking at around $2K in parts.

    I love the car, but I could use the cash for other things, like my M3.

    When do you stop spending money on a car? What would you do in this instance?
    bmwpower / bmwcca 147895 / 05 X5 / 99 M3 / 90 535i / 89 325is track project

  2. #2
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    I'm in the exact same boat as you right now, having to drop money into a car that I won't be able to get it back out of should I sell it. Your question is a pretty personal one. If you love the car then do it but you said you also have another Bimmer that could use the money also. Try doing all of your repairs with used parts instead of new ones. There's plenty of used stuff around, Bilsteins rarely go bad. Prep the car yourself and get a budget shake and bake paint job. If you prep it right it'll look pretty good.

    I've also considered unloading my car and finding a better example of the same vehicle in better condition. But, that will introduce all of the unknowns regarding maintenance.

    Working on cars is a labor of love for most people. I usually lose money when I sell a car. If you've got the time and money then keep it and fix it. If it's a distraction then sell it. If you can afford to keep it, run it into the ground.

    Not much help huh? Haha
    Later,
    Bruce

    '03 Envoy XL - Tow Rig
    '94 525i Auto - RIP
    '86 GLi - $200X Grassroots Challenge Car

  3. #3
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    The answer is one that only you can provide. I've spent over $10k on my 93. To some (err... most), that would seem asinine. However, I think it's worth it because of the enjoyment I get out of it.

    In the end, it rounds down to what you want to do. If you're tired of throwing money at it and want to switch to the M3, then there is your answer.


  4. #4
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    When there is no money left and nothing left to fix, you stop.

  5. #5
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    Quote Originally Posted by UrineMachine View Post
    When there is no money left and nothing left to fix, you stop.
    Those two rarely occur at the same time

  6. #6
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    Meh once you start paying attention to how much you've spent it all starts to get a bit ridiculous. I stopped counting... well not true, I have counted, but I stopped caring.

  7. #7
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    Quote Originally Posted by UrineMachine View Post
    Meh once you start paying attention to how much you've spent it all starts to get a bit ridiculous. I stopped counting... well not true, I have counted, but I stopped caring.
    +1 I will always spend money on my cars, how much I spend depends on my income.. After Im done with school and working in a career there will be more cars and more money to play with.

    My manual isn't worn out, but I want to replace all the bushings and steering stuff. It will be about 1k, but when its said and done the car will drive great and 1k is cheaper than buying something else to drive.

  8. #8
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    Upon death (car is then passed to someone else who will blow money on in), car is totaled, and lack of funds - which is temporary anyways.
    BMPR STKR: Real racers go LEFT and RIGHT.... So tru! Twins at heart.M

    '93 325is-Sold/'03 WRX-Sold/'04 RX-8-Sold/'92 525iA-TotaledSold/'90 e30s52-Sold/'96 328i-TotaledSold/'95 525iM-Sold

  9. #9
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    Quote Originally Posted by VWguyBruce View Post
    ...Working on cars is a labor of love for most people. I usually lose money when I sell a car. If you've got the time and money then keep it and fix it. If it's a distraction then sell it. If you can afford to keep it, run it into the ground.
    +1

    It's really up to you...if ya love the car, and love working on it, then the amount of money spent on it will be limitless. SO, if it doesn't feel right for you to put any more money in the car, then it's time to let go, and focus your time and effort of something that you do love....possibly your M3.

    Life is too short to spend your time on things you don't love.

  10. #10
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    nice & shiny
    Nothing that we as humans build is intended to last forever

  11. #11
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    Quote Originally Posted by metagear89 View Post
    Nothing that we as humans build is intended to last forever except for the e34.
    fixed.
    Last edited by MaloventEvil; 05-27-2007 at 03:46 AM.
    -Aurash

  12. #12
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    '89 535-GTS,'10 535xit
    Never.
    As founder of the money pit E34 society (established 1998), its imperative that you continue to work on the car until its done. I'm still searching for that finish point.

    2000, 2001, 2002, 2011, & 2020 One Lap of America Race Team Follow Redfive Racing on Facebook
    1989 535GTS-S5S, 2010 535xit M sport wagon

  13. #13
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    ohh dear...my friends have asked me this question many times.

    I stop spending when I run out of money.
    ________________________________
    Nik
    91' M5 3.9L Stroker
    92' M5 3.8L
    95' 540i6 Supercharged
    95' 540i6 4.7 Stroker
    95' 550i6 M70 Conversion

  14. #14
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    Quote Originally Posted by MaloventEvil View Post
    fixed.
    the e34 was not built by humans; thus is exempt from that rule

  15. #15
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    BMW E34 525TDS EXECUTIVE II EDITION
    I stop spending money for my E34 when I crash it or the engine blows up

    I am driving a german/dutch 525tds (diesel) and the car has gone 350k kilometers (200k miles). But .. still driving @ 30k miles a year!

    So ... spend money if you think the caris worth it!

    My next issues will cost me at least 600 euro's ... let's say 1000 USD, but ... the driving pleasure will be unbeleavable

    No way I am going to buy another car as long as I can drive/pay this one!

  16. #16
    Join Date
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    E34 540i6 M Sport
    I just bought more parts for the E34 and E12 yesterday. Even when you think it is done, it is not.

    Point being...

    IT NEVER ENDS....

    Unless you sell your E34

    95 540i6 M Sport - 95 525it S52/OBD2 - 433k E36 328i5 - X5D that hit a pothole - IG: @justinmurray95

  17. #17
    Join Date
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    525i E34
    I stop spending money for my E34 when I crash it or the engine blows up

    same here JohnnE34, looking to spend out on new front shocks , tyre and other odds and sods. E34 525i SE 93 plate.

  18. #18
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    Cars are never finished. They are sold when a new project is needed. Or, if your income is high enough, they get put on the backburner to make room for the new project until yet again you continue to dump money into the forementioned. I have decided that from here on out, all the cars on my "list" to acquire will never be sold as they are acquired.

  19. #19
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    84 635csi, 94 530i Touring
    i bought the e34 as a daily driver/winter beater

    i've so far dumped thousands of dollars into it.

    just today i installed a 255lph fuel pump and replaced my fuel filters
    last week i changed the oil, replaced the air filter and the cabin filter and repainted the coil covers.
    today i was tearing into the rear of my wagon to find out what that annoying squeak is when i go over bumps and ended up tearing a whole bunch of useless stuff from the rear part (weight savings).
    I also found that the annoying squeak is actually a blown rear strut mount. the shock ate through the side and is now moving against the strut housing...

    so new rear upper mounts are going in tommorow.

    i still have to replace the front lower control arms, the sway bar end links, the rear differential to a unit from a standard car (tired of high revs on the highway, this isnt a race machine)

    and either supercharge or swap in a 4.0...

    never ending

    - 1994 530iT: M60B40'd + 5spd conversion , 18" Style 32's, deleted resonator, angel eyes, Voltglands, Erebuni ACS body kit, 10" sub and amp, Alpine deck, 255lph fuel pump, 6K HID.
    - 1984 635CSI: 92 535 M30 5spd, Koni Yellows, Eibachs, Magnaflow cat + catback, short throw shifter, Style 5's, 2x 10" subs. STOLEN! yea my baby's gone

  20. #20
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    Wow. Great responses.

    So it seems like most, if not all, agree that you SHOULD continue to spend money on a car even though the value of the car is nowhere near what you could recoup if sold.



    I guess my original question could also be phrased:

    "When do you sell the car and get another one since the repair costs are high enough to justify a car in better condition?"


    Your car is worth $2K (if you're lucky), for example.

    To fix it up to your standards will require $2-3K.

    A used car just like yours, but in better condition is in the paper for $4k.

    What do you do? Buy or fix?
    bmwpower / bmwcca 147895 / 05 X5 / 99 M3 / 90 535i / 89 325is track project

  21. #21
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    Fix it, its still cheaper.


    Im about to sell one of my cars and I am about to dig heavy into school which means I will not spent much on my car for a while. I will have a little trust fund for when things break but other than that I am going to just drive it and enjoy it the way it is. All other plans will be put on hold.. LS1 and such... It will be worth it in the end.

  22. #22
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    you fix yours obviously

    yea that car MIGHT be in better condition, but after spending 2 to 3gs on yours, it DEFINITIVELY will be in better condition, you will be aware of any problems arising since now u're gonna know your car inside and out....

    - 1994 530iT: M60B40'd + 5spd conversion , 18" Style 32's, deleted resonator, angel eyes, Voltglands, Erebuni ACS body kit, 10" sub and amp, Alpine deck, 255lph fuel pump, 6K HID.
    - 1984 635CSI: 92 535 M30 5spd, Koni Yellows, Eibachs, Magnaflow cat + catback, short throw shifter, Style 5's, 2x 10" subs. STOLEN! yea my baby's gone

  23. #23
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    Quote Originally Posted by Rebel635csi View Post
    you fix yours obviously

    yea that car MIGHT be in better condition, but after spending 2 to 3gs on yours, it DEFINITIVELY will be in better condition, you will be aware of any problems arising since now u're gonna know your car inside and out....
    +1

  24. #24
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    Quote Originally Posted by Rebel635csi View Post
    you fix yours obviously

    yea that car MIGHT be in better condition, but after spending 2 to 3gs on yours, it DEFINITIVELY will be in better condition, you will be aware of any problems arising since now u're gonna know your car inside and out....
    Yea, that's what I'm thinking. There's been a bunch of stuff I've done to my car that I would not like to do again...headgasket is one of them.
    bmwpower / bmwcca 147895 / 05 X5 / 99 M3 / 90 535i / 89 325is track project

  25. #25
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    Quote Originally Posted by Rebel635csi View Post
    i bought the e34 as a winter beater

    never shall an e34 be refered to as 'the beater'. that being said they can take a beating...

    all kidding aside though you only stop pouring $$$ into an e34 when you die...we all know that that's gonna come way before you stop enjoying the car.

    WTB: Your 540/M3/330!
    BMVV4life

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