buying cheap and doing up - need sense knocked into me?!

[dylan0451]

my latest punt is a 180k 1996 E39 540 manual. I've bought it for the pricely sum of £1800

it's been stamped by bmw on every service up till 160k then a couple of indies. engine replaced with an alusil 4.4 at somepoint and it pulls great. exhaust is a DIY straight through which sounds pretty fantastic

the only things that really shows it's age are a slight tear on the door card where it looks like the seat belt got slammed in it, and wear to the bolster and generally saggy leather where it looks like the seat stuffing has compressed over the years. also some stone chips down to the primer on the offside wing only.

other than that, it's a rare 6 speed manual, all mechanicals working fine.

i was planning on spending between £5-10k on a car but for some reason cheap (ish) V8 motoring appealed.

so, would i be mad if i'm thinking already of getting the stonechips repaired/resprayed and a general machine polish, a car trimmer to spruce up the driver seat and door card and an lpg conversion?
for the money, this seems like a lot of car, and i realise an lpg conversion alone would be the value of the car, but would probably get a proportion of the cost back in fuel over a year

your thoughts...

p.s. if anyone is interested in a pampered, tuned mk1 mx5 for £2k...

Edited by dylan0451 on Tuesday 14th September 14:17

[TEKNOPUG]

With regards to LPG it depends upon how many miles you do over the year.

Personally, I think that you've over paid a little @ £1800 but it depends how long you can get away with not purchasing any consumables. Get some photos up.

[ManOpener]

Pull the 4.4 out of it and put it in the MX5.

[Ozzie Osmond]

That car's not worth spending any money on at all. Best to tidy it up as best you can with marker pens, Evo Stik and touch-up paint. Just clean it up and drive until it dies - fluid changes and replacing breakages only.

[hesnotthemessiah]

Ozzie Osmond said:

That car's not worth spending any money on at all. Best to tidy it up as best you can with marker pens, Evo Stik and touch-up paint. Just clean it up and drive until it dies - fluid changes and replacing breakages only.

That's very good advice and is exactly what I would have said.

[dylan0451]

TEKNOPUG said:

some photos up.

http://www.pistonheads.com/sales/1972078.htm

apparently the seller rekons the exhaust and some electronic tomfoolery has seen (a corrected flywheel estimation) 330hp on the rollers. i'm taking it with a pinch of salt though...

thing is, it's probably the newest, and certainly the most powerful car i've ever had. i end up pampering cars and never making the money back, though it seems nice to know there's no niggles. i take into account what you're all saying though. i have a budget that i could have stretched to an m5 or taken my pick of E36 M3 but i thought, since i saw this rare (are they that rare?) manual i'd be much wiser to avoid M running costs and just see if i get on with a big saloon, more to the point, i think i wanted something semi reliable and practical with a V8 and was hugely surprised how cheap V8 5 series can be had for.

maybe i did pay a fair whack, it is semi stellar mileage. i'll rest easier after a compression and leakdown i think...

is there a better deal around for this kind of car though?

[CinqAbarth]

I hope you got the original cat(s) with it, or I very much doubt that car will ever get another MOT certificate.

[dylan0451]

CinqAbarth said:

I hope you got the original cat(s) with it, or I very much doubt that car will ever get another MOT certificate.

err....

really?

this could be turning into a keeper then

good thing the seller says "But i can put everything back if the new owner requires a more subtle sound."

and that i have a mate who can weld...

[CinqAbarth]

dylan0451 said:

CinqAbarth said:

I hope you got the original cat(s) with it, or I very much doubt that car will ever get another MOT certificate.

err....

really?

this could be turning into a keeper then

good thing the seller says "But i can put everything back if the new owner requires a more subtle sound."

and that i have a mate who can weld...

Better hope they still work, if they're coming with it....

ISTR cats for those things are stupidly expensive - as in 'may as well break for spares', if they need replacing.

[dylan0451]

cock it.

where the hell were you for this thread huh?

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

i think we should go halves each. maybe i'll send you a photo of me looking all happy and smug

dylan0451 said:

so other than that there doesn't seem to be a lot to watch out for...


famous last words...

ETA: phew. that hardly breaks the bank - http://cats2u.co.uk/product_info.php?products_id=2...

Edited by dylan0451 on Tuesday 14th September 21:07

[MoonMonkey]

I wouldn't worry about the cats. I'm sure there is somewhere 'friendly' you can take it come MOT time

My logic when running cars at the cheaper end of the market is to spend as little as possible on the upkeep (own maintenance etc) and certainly don't spend any money tarting it up unless you are adding value come resale.

[BriC175]

Even if the cats did go, some second hand ones wouldn't be that expensive.

[rottie102]

dylan0451 said:

cock it.

where the hell were you for this thread huh?

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

i think we should go halves each. maybe i'll send you a photo of me looking all happy and smug

dylan0451 said:

so other than that there doesn't seem to be a lot to watch out for...


famous last words...

ETA: phew. that hardly breaks the bank - http://cats2u.co.uk/product_info.php?products_id=2...

Edited by dylan0451 on Tuesday 14th September 21:07

Screw the cats ( ) Get a 2nd hand M5 LSdiff fitted instead! Shorter final gear ratio too IIRC

[RDB]

I'd say do what you want with it and don't worry too much about the cost vs. purchase price as long as you're not going to get rid too soon.

I bought my Saab 9000 with similar mileage to yours for under a grand, but I've spent about a grand since on bringing it up to scratch. I'm sure plenty of people would think it's wasted money, but a lot of is money you'd spend on maintaining any car (tyres etc.) plus I like tinkering and there still aren't many cheaper ways into a 200bhp car with room for all the family

I'm not planning to get rid of it any time soon and it isn't going to depreciate any more than it already has. Yours hasn't got much depreciation left in it either.

The one thing I haven't spent money on is tarting up the paint. There are a couple of scuffs on the car and various small scratches and stone chips. I am planning to sort these out as best I can with a touch up pen then give it a good machine polish but I just haven't found the time yet.

Basically I'm rubbish at bangernomics because I won't leave stuff alone, but it's my money and it keeps me happy

[dylan0451]

RDB said:

I'd say do what you want with it and don't worry too much about the cost vs. purchase price as long as you're not going to get rid too soon.

I bought my Saab 9000 with similar mileage to yours for under a grand, but I've spent about a grand since on bringing it up to scratch. I'm sure plenty of people would think it's wasted money, but a lot of is money you'd spend on maintaining any car (tyres etc.) plus I like tinkering and there still aren't many cheaper ways into a 200bhp car with room for all the family

I'm not planning to get rid of it any time soon and it isn't going to depreciate any more than it already has. Yours hasn't got much depreciation left in it either.

The one thing I haven't spent money on is tarting up the paint. There are a couple of scuffs on the car and various small scratches and stone chips. I am planning to sort these out as best I can with a touch up pen then give it a good machine polish but I just haven't found the time yet.

Basically I'm rubbish at bangernomics because I won't leave stuff alone, but it's my money and it keeps me happy

thanks RDB. was starting to get a little fijity i was letting myself in for slightly more than i'd bargained for. maybe i have. who knows... either way, in the grand scheme of things it is bangernomics, well £1800 is a bit more to me than bangernomics but if i'd have spent £5k on one then had some epic repair bills i'd have felt a little sick in the mouth.
either way, it'll be an experience i guess. i've never run a bmw nor a v8 so that's a couple itches scratched simultaneously even if it goes catastrophically wrong in a year, and i get on a first name basis with the local shell employees, i can still ebay it and buy a honda or something!
think first stop after i pick it up tomorrow will be an indy for a good look over, apart from that it's hoping that luck prevails!

[Rollcage]

Seems a bit strong, money wise, but if it is what you want then more power to your elbow. However, I would question the sanity of buying a car that you dont seem to know much about (in terms of ownership experience, costs,etc) Wont be the cheapest of cars to run by a long way, and that is why they are worth so little.

The fact it is manual would put off as many people as it would please, so dont think it is worth any more because of it.

I think if you had to get out of that car pronto (IE trade sale) you would struggle with those miles.

eta

averaging 35mpg at 70mph - pull the other one!

Edited by Rollcage on Tuesday 14th September 22:55

[dylan0451]

Rollcage said:

Seems a bit strong, money wise, but if it is what you want then more power to your elbow. However, I would question the sanity of buying a car that you dont seem to know much about (in terms of ownership experience, costs,etc) Wont be the cheapest of cars to run by a long way, and that is why they are worth so little.

The fact it is manual would put off as many people as it would please, so dont think it is worth any more because of it.

I think if you had to get out of that car pronto (IE trade sale) you would struggle with those miles.

eta

averaging 35mpg at 70mph - pull the other one!

Edited by Rollcage on Tuesday 14th September 22:55

hmmm... you do make a good point, i think perhaps i do come across a bit naive, and wonder if i have rushed into this a little. you're right that i know little about this car, i was/am drawn in to the fact it seems as though it's been well looked after with all the service history, new engine from recall etc. but when i went to view there was little evidence of actual invoices. maybe they were chucked, lost etc. i don't know. i fancy a change of cars, and for the same money i'm hoping to sell the mx5 it seemed as though it could be worth a punt.

the guy selling just used it as a DD, and i get the impression wasn't a pauper so would seem pretty legit, but then, that hardly makes me look at all savvy with a staement like that does it.

bit of a deliberation time now. went to see it sunday, he's done another oil change yesterday and i'm supposed to be taking it off his hands tomorrow night. part of me says just go for it but to be wholly truthful you post alone has me doubting. looks like i may well end up looking like one of these timewaster types - pretty daft

[frosted]

This is what i would do , fix the interior and if you do more than 60 miles a day get the lpg done .

Personally i wouldnt buy a car from someone that removed the cat to release power .Thank god we are not all the same

Edited by frosted on Tuesday 14th September 23:38

[CinqAbarth]

dylan0451 said:

cock it.

where the hell were you for this thread huh?

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

i think we should go halves each. maybe i'll send you a photo of me looking all happy and smug

dylan0451 said:

so other than that there doesn't seem to be a lot to watch out for...


famous last words...

ETA: phew. that hardly breaks the bank - http://cats2u.co.uk/product_info.php?products_id=2...

Well, you'd need 2 of those - and doesn't the M62(?) engine also have pre-cat things integrated into the manifolds....

Anyway - as others have said, it 'feels' expensive for what it is, there are some things about it that would make me run a mile (ie. cats not fitted, but MOT present.... what else was 'overlooked' when it was tested, if it was presented without cats?) - and the E39 was hardly a high point for BMW's quality / reliability.

Not a lot more would buy a nice one with sensible miles that hasn't been cocked about with.

[busta]

I bought a car for £50 to do up and sell and I'm currently standing to loose money on it. There's a reason 2nd hand car dealers always whinge and are never minted- making money from old cars is bloody hard work!