Buying a cheap e34 5 series as an 'interim runaround'

[norman156]

My merc is currently in the garage and has been for some time, which is particularly irritating given that I'm supposed to be moving down to London today. The part that the mechanic is after seems to be rather elusive, so it's looking like it could be some time before he finds it, hence the need for a runaround in the interim. However because I'm an idiot I want something a bit more interesting than a little hatchback, so I was spying cheap E34s. Particularly one not far from me for £500, with 12 months MOT. Are cheap E34s a really stupid idea or are they quite solid? I already have an E30 beemer with a knackered head, so it would be a real pain in the arse if whatever I buy ends up broken, meaning I'd have 3 broken cars.
Cheers!
Matt

[fastandcurious]

No. Not a silly idea at all. Although the newest E34 is now over 10 years old they still make sense as a day to day driver. All my E34s have been really good reliable cars even with big mileages. They may lack a bit of technology compared to the E39s but In my experience This is no bad thing as they are less complicated. As a cheap car, go for the latest you can afford. Six cylinder engines are probably the best. 2 litre, a bit under powered, 2.5 24 valve best all rounder. 3.0 and 4.0 V8s rarer and more costly to run. I still run 2 older BMWs albeit 3 series. See profile.

[Kerry540]

A 525 E34 would make a great runaround and get you cheap road tax when Mr Brown starts raking it in next year onwards. Fit a new all metal waterpump as a matter of course and you are away.

Kerry xxx

[norman156]

Cheers for the advice. I know the 3.0 V8 would be costlier to run, but I've seen a few cheap examples that have wet my tastebuds some... But I think I'll be 'sensible' and get the 2.5 6. Although running costs wouldn't be too much of an issue, as this would be a fairly short term ownership. I just really don't want something to go wrong in that time, 2 broken cars is quite enough...

[derin100]

What FastandCurious and Kerry said is spot on, I think!

Great cars!

A good idea! In fact...I just bought another today!

[welwynnick]

E34 was one of the most solid cars I ever owned, and a great secondhand proposition. Mine was a 1988 525i 24V with about 160k on the clock when I sold it to a grateful local buyer. I was perhaps the most problem-free car I've ever owned.

Nick