Well, this was always on the cards....

[Scania]

Indeed. How can it go from that much to effectively £0 in such a short period time? Taking out the emotional side of purchase and ownership, that fall doesn't make sense.

If you already have another car, and BMW is a dream car why not keep it and fix it slowly?

This all sounds a bit extreme.

It’s not worth £0, far from it, at least £1k as it stands I’d guesstimate, I can probably get it back to a fantastic standard for around £3k (assuming I get a good job done on the bodywork along with the suspension work)

So that leaves me needing £4K back from the sale to get where I potentially am now.

if I get £4K ,great, I’ve not lost out, if I don’t though I’ve thrown money at it for no reason and watching the e38 market I don’t see many selling for high prices in the current market.

So do I throw time and money at it with no guarantee I’ll recoup it come sale time or just bail out now?

You all keep saying it’s my dream car etc, yes, it was and I’ve loved running it for the last 20months but as my priorities have now changed, I was going to move it on anyway soon, this has just brought that forward.l albeit with a dilemma.

It’s interesting though, the internet says keep it, but I’m yet to have anyone in my close circle of friends say fix it never mind keep it....

 

[Howard]

I was going to move it on anyway soon

Were you, though? Aside from the fact that this was your dream car not 2 years ago, has your mindset been changed that much just by a few mechanical and cosmetic issues that need sorting? Did you not realise when you bought it that these issues were highly likely to crop up?

I'm not saying this to stick the knife in or tell you that you made the wrong decision by buying it, moreso to make you think about what you really want. I sold my MX5 a few... 5... *counts* wow, 7 years ago now, for various reasons. But part of me still regrets doing so.

So I would suggest either spending the money (perhaps economising by doing a good chunk of the mechanical work yourself, if you're at all capable?) on getting it mint and enjoying it like you have done so, or spending as little as possible in order to get it to an attractive proposition to a new buyer, and just getting rid. To go from £6.5k to £1k in less than 2 years is quite a pill to swallow.

It’s interesting though, the internet says keep it, but I’m yet to have anyone in my close circle of friends say fix it never mind keep it....

The 'internet' is made up of enthusiasts. I expect most of your friends and family aren't interested in cars and just see it as an old BMW?!

 

[sigma]

It’s not worth £0, far from it, at least £1k as it stands I’d guesstimate, I can probably get it back to a fantastic standard for around £3k (assuming I get a good job done on the bodywork along with the suspension work)

So that leaves me needing £4K back from the sale to get where I potentially am now.

if I get £4K ,great, I’ve not lost out, if I don’t though I’ve thrown money at it for no reason and watching the e38 market I don’t see many selling for high prices in the current market.

So do I throw time and money at it with no guarantee I’ll recoup it come sale time or just bail out now?

You all keep saying it’s my dream car etc, yes, it was and I’ve loved running it for the last 20months but as my priorities have now changed, I was going to move it on anyway soon, this has just brought that forward.l albeit with a dilemma.

It’s interesting though, the internet says keep it, but I’m yet to have anyone in my close circle of friends say fix it never mind keep it....

Do you have the space to keep it? I get what you mean about the rust, no hiding away from it and no cheap cure.

 

[Akagi]

100% fix it. Or bin the whole self levelling setup off and fit normal suspension all round if the bill is less eye watering.

But then this is coming from someone who will soon be dropping £5K on my 1991 3 series...

 

[[TW]Fox]

It’s interesting though, the internet says keep it, but I’m yet to have anyone in my close circle of friends say fix it never mind keep it....

Because the internet loves nothing more than consequence free advice. It's not our money and it doesn't really matter to us so we're free to sound off with all sorts of fantasy/ideal world/best case scenario suggestions because it isn't us that has to sink our money into it, carry the can for it or watch someone we know well go through financial hardship fixing it.

Would it be nice if another BMW was saved for the future? Of course. It's awful when any BMW stops being nice anymore and so why not suggest you just keep fixing it at some sort of toy?

The reality is of course that this was a bad decision in the first place (I hope you don't mind me being, well, errr, me about this) - it was overpriced and the wrong model and trim level for any sort of future classic status. So you ended up with all the downsides of a really old BMW but without many of the upsides (ie, its cheap and you can throw it away if it breaks) and all the downsides of an expensive one (ie, its expensive!) without the upsides. I like E38's and E39's. You know that. I'm very fond of them, they are from my favourite era of BMW and I'll always have a special place for them in my heart but this is a beige 735i SE not a Techno Violet 740i Sport.

It's time is over. Move on.

 

[Akagi]

Beige is bae.

Baege.

 

[Gaygle]

To salvage some kind of value from this car, my honest advice would be to convert it to standard suspension for as cheaply as possible (£300), sell the two front good self levelling shocks on ebay (if they are indeed rare, they will be snapped up in no time and you'll get a very good price - £4-500 for the pair?)

Then get some front discs and pads on it, (£150?)

Then sell it with a new MOT on it with brake new front brakes, and all round suspension.

 

[Scania]

Were you, though? Aside from the fact that this was your dream car not 2 years ago, has your mindset been changed that much just by a few mechanical and cosmetic issues that need sorting? Did you not realise when you bought it that these issues were highly likely to crop up?


I'm not saying this to stick the knife in or tell you that you made the wrong decision by buying it, moreso to make you think about what you really want. I sold my MX5 a few... 5... *counts* wow, 7 years ago now, for various reasons. But part of me still regrets doing so.


So I would suggest either spending the money (perhaps economising by doing a good chunk of the mechanical work yourself, if you're at all capable?) on getting it mint and enjoying it like you have done so, or spending as little as possible in order to get it to an attractive proposition to a new buyer, and just getting rid. To go from £6.5k to £1k in less than 2 years is quite a pill to swallow.

I bought it with a plan to keep it indefinitely, I worked away all week so the car wasn’t used from Monday to Friday most weeks, I’ve since changed my work pattern so I’m home every night (more to life than sleeping in a truck all week) so it is (was) very much a daily driver against my initial plan.


The main thing though has been family circumstance change, I’m now a grandfather and for reasons I don’t need to discuss here I’m helping my daughter as much as I can with my new granddaughter which was again not in the planning or thinking when I bought the car, an aside to this is the E38 isn’t fitted with nor retrofitable with isofix and the seats are not suited to belt attached baby seats (hardly the target market anyway I’d guess) either way this was something I wasn’t happy with, I obviously want her secure in the car.


The mechanical issues - to do properly - are going to be expensive (ridiculously so) I could get it converted back to standard but it isn’t something I have the time, tools, space nor ability to do and I’ve enquired at a few trusted garages and been told it’s a huge job to do right, I could arguably bodge it but I don’t work like that, same with the bodywork, I could get a cheap job done to make it look better but again that’s not me and a cheap job would probably end up looking worse than a few bubbles on an otherwise original car!

The 'internet' is made up of enthusiasts. I expect most of your friends and family aren't interested in cars and just see it as an old BMW?!

Fox answered that far better than I ever could! (See below)

Because the internet loves nothing more than consequence free advice. It's not our money and it doesn't really matter to us so we're free to sound off with all sorts of fantasy/ideal world/best case scenario suggestions because it isn't us that has to sink our money into it, carry the can for it or watch someone we know well go through financial hardship fixing it.

Would it be nice if another BMW was saved for the future? Of course. It's awful when any BMW stops being nice anymore and so why not suggest you just keep fixing it at some sort of toy?

The reality is of course that this was a bad decision in the first place (I hope you don't mind me being, well, errr, me about this) - it was overpriced and the wrong model and trim level for any sort of future classic status. So you ended up with all the downsides of a really old BMW but without many of the upsides (ie, its cheap and you can throw it away if it breaks) and all the downsides of an expensive one (ie, its expensive!) without the upsides. I like E38's and E39's. You know that. I'm very fond of them, they are from my favourite era of BMW and I'll always have a special place for them in my heart but this is a beige 735i SE not a Techno Violet 740i Sport.

It's time is over. Move on.

Cheers, I was expecting to need A&E after your input tbh!

I know it wasn’t a collectible example in terms of what it was and yes, undoubtedly very expensive, but it was the very best I could find - believe me, I looked - that wasn’t crazy money and I don’t regret buying it (although it was a crazy thing to do in the first place I freely concede) in fairness though, I wanted one that would serve me as a daily driver (albeit initially thinking my miles would be much lower) and went by condition , history and miles in picking it, it was never a future investment idea, far from it, just a daft automotive itch I’ve been wanting to scratch again for 10 years or more.

It’s done, I think you’ve helped me make up my mind....

I’ve been there with the E38 I wanted (which was one that was better than the old 728i I had which this was) done it, shouldn’t have a f course but what the hell!,I’m glad I did because had I not I’d have done it anyway some time down the line!

Life’s too short (I know that one only too well) Captain sensible from now on I think.

Just need to decide how to describe it in an advert now I suppose and figure out the best place to stick it up for sale I think.

It’s time as Fox says is over for me, I’m most certainly moving on.

Appreciate the input guys, right then, anybody any good at wording adverts?

 

[mjt]

To salvage some kind of value from this car, my honest advice would be to convert it to standard suspension for as cheaply as possible (£300), sell the two front good self levelling shocks on ebay (if they are indeed rare, they will be snapped up in no time and you'll get a very good price - £4-500 for the pair?)

Then get some front discs and pads on it, (£150?)

Then sell it with a new MOT on it with brake new front brakes, and all round suspension.

@Scania If you have the time/cash then surely this would make the most sense?

 

[wingman]

The main thing though has been family circumstance change, I’m now a grandfather and for reasons I don’t need to discuss here I’m helping my daughter as much as I can with my new granddaughter which was again not in the planning or thinking when I bought the car, an aside to this is the E38 isn’t fitted with nor retrofitable with isofix and the seats are not suited to belt attached baby seats (hardly the target market anyway I’d guess) either way this was something I wasn’t happy with, I obviously want her secure in the car.

Not only that, you don't really want to run the risk of breaking down with your granddaughter in the car as you know it'll always be at the worst time (not that there's ever a good time to break down). Similarly, I'm not entirely sure on the differences between the E38 and a modern Focus in terms of safety design, but I get the overwhelming impression I'd much rather be in the Focus should - God forbid - there ever be a serious accident.

Nothing wrong with this change IMO.

 

[Scania]

I

@Scania If you have the time/cash then surely this would make the most sense?

I have the cash,yes, time (ability) to do it myself, no.
Been advised that to retro fit the STD suspension right won’t be cheap,be it used or new components, and it’s all a risk as I’ve no guarantee as to what I’ll ultimately get for it.
I can see the argument for fixing it up of course, but do I want to throw a load of cash at it and then potentially wait months for it to sell and then hope I get enough to cover whatever I’ve thrown at it?

My current thinking is no, times and priorities have changed for me, potentially risking money and time on something I may well not see a return on isn’t currently appealing at all.

As I say, I’m watching the E38’s market keenly and nothing much is moving at the moment,I don’t want to leave it standing, and don’t have the means to DIY.

I don’t think I’m going to be swayed from letting it go for whatever I get and be done tbh.

A year back my thinking would have been very different, a lot has changed for me in that time though.

 

[Scania]

Not only that, you don't really want to run the risk of breaking down with your granddaughter in the car as you know it'll always be at the worst time (not that there's ever a good time to break down). Similarly, I'm not entirely sure on the differences between the E38 and a modern Focus in terms of safety design, but I get the overwhelming impression I'd much rather be in the Focus should - God forbid - there ever be a serious accident.

Nothing wrong with this change IMO.

You’ve pretty much nailed my primary thinking....

**** the car, other things are more important!

 

[vanpeebles]

It might be easier to park it in the nearest ditch and add fires

 

[Scania]

It might be easier to park it in the nearest ditch and add fires

If it was still insured, some would consider that, not I.

 

[Scania]

Sold.

Advertised it on an E38 Facebook group and was deluged with messages and various offers, the usual “I’ll give you £500 mate, can collect now” etc the best one was an offer of £2500 (great!) but then he said he’d pay by Western Union.... yeah sure...

Guy messaged me late last night asking my address, I made it clear I wasn’t going to entertain any offers, the price was the price and I didn’t want to waste his time nor mine, chap rocks up in an F01 was very happy with the car and it’s history and has paid a deposit on it to me this morning with collection tonight.

Asked and got £1650, probably could have got more equally could well have got less all things considered.

Can’t say I’m happy as such - but more than happy with my dealings with this guy, he clearly knew what he wanted and was happy - it’s done now,and that’s that.

 

[-westy-]

That seems like the result that you wanted. Stick the cash in your pocket and spoil your granddaughter rotten

 

[Rilot]

That was the right choice. The E38 is a lovely thing but as Fox said, yours was the wrong model and spec.

 

[Vita]

Did @Acme buy it?

 

[Yaayuh!]

Did @Acme buy it?

Not rusty enough

I jest @Acme <3

 

[Akagi]

You may joke but for that price I would have, and then sold the front bags and put coilovers on it instead.