Should I stay or should I go? Should I sell my 540i?

I've got around £1000 of expense on my car at the moment, doesn't sound massive for you guys state side but here the car is realistically worth about £1200 - £1500 once all the bits are done. Its mainly bad timing really that everything has come together but I'm wondering whether I should sell or keep it. I need the following:

Valve Cover Gaskets.
Inspection Service
4 tyres
Steering arms and bushes
Front suspension arms and bushes (again - not fitted properly be previous garage)
Possibly rear bushes
MOT (annual road test)

I've only got about £2000 to spend on a car at the moment but I'm contemplating an e38 740i, e39 540i touring, Jag XJR or Audi A6 (although hard pushed to get the new shape for 2k).

What I really want is an e34 540i 6 speed Manual Touring which is in my price range (I could raise £2 - 300 more) but I can't finder any of the blighters for sale.

I really don't want to sell my car and I have most of the suspension and steering parts to do the job, just no time or balls to do it, plus its cold and I quite like my knuckles.

I could take it to a garage tomorrow and get all the work done and be happy for another year at least but someone at work has planted the seed that I could get something new. Apart from the bits needed (which are all wear and tear) the car is great.

I need new tyres because the front ones are worn on the inside after just 12 months - connected to the suspension problem no doubt and I've just had a blow out on the rear because it was rubbing which is another thing that needs sorting, I'm not sure if it affects both sides or just one and if this can be cured with new bushes / suspension parts or if I should get 225 tyres instead of 235's if they will fit.

I would rather wait and find an e34 6 speed touring but I'm wondering if there is something else out there to be enjoyed in the short term. Also I know what ever I buy might also need work for £2000, I can't afford to spend any more right now as I've just finished an extension and it has bled me dry at least for the next 6 months.

Any opinions appreciated!

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Originally Posted by leicesterboy15

I've only got about £2000 to spend on a car at the moment but I'm contemplating an e38 740i, e39 540i touring, Jag XJR or Audi A6 (although hard pushed to get the new shape for 2k).

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So let me get this straight... You're thinking of selling your car because it needs maintenance, but you want to buy a car that is equally high-maintenance if not more?

It is only 1 or 2 more months before it is warm enough to do alot of things.

You already have the parts. Fix it up and see how you feel when its done. If you still want a change at least you will get a decent price. I just put new CV boots on her Hyundai Coupe and got it through the MOT. Froze my bits off. It also needed a small weld (Dont get me going about Korean steel!!)
But she isnt driving my car any more. All you need is the right motivation:D

i agree with the others.you know where you are with this car and any of you r "new" candidates could need the exact same things doing.

lol a 540i Touring 6 speed? and you are short on money! you do see life on the bright side :)

If you spend only 2K on e38 740i, e39 540i touring, Jag XJR it's highly likely that you are getting a replacement vehicle, well over 10 years old with average to high mileage. e.g....

http://www.autotrader.co.uk/classifi...easc&logcode=p

Nice car, but there are going to be equally high associated running costs, if not now, then in another 12 months. It's just the nature of the beast with luxury, high performance cars of this age. If you know or suspect something else is on the horizon for replacement next year, which is going to cost say another £500 - £1000 then IMO it would be worth your while chopping your current motor in.

Personally, I would try save up and spend 7-8 k and get yourself something a bit newer, lower mileage, better specification, with more up to date toys and gadgets inside. Even then, a luxury BMW is going start costing you in repairs and maintenance in another 2-3 years.

Can you replace it for the same investment?
What you have is at least known, a change is always a gamble.
Can you reasonably expect good service from your 540 once the current list is addressed? Sometimes you have to cut and run, better to do so before anymore investment.
Too bad we are an ocean apart. I'd be all over a 540it for what you say she'll bring there.

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Originally Posted by Mordan

lol a 540i Touring 6 speed? and you are short on money! you do see life on the bright side :)

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Well I am an optimist! I saw a few touring 6 speeds for sale before Christmas and they didn't seem to be selling but it was not a good time for me to be buying a car so I didn't pursue them. They were going for £1500 - £2500.

I've been looking around and the price of used cars seem to have increased slightly over the last couple of months, they are still unbelievable value in my eyes but they do seem to have gone up.

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Originally Posted by shifty1979

If you spend only 2K on e38 740i, e39 540i touring, Jag XJR it's highly likely that you are getting a replacement vehicle, well over 10 years old with average to high mileage. e.g....

http://www.autotrader.co.uk/classifi...easc&logcode=p

Nice car, but there are going to be equally high associated running costs, if not now, then in another 12 months. It's just the nature of the beast with luxury, high performance cars of this age. If you know or suspect something else is on the horizon for replacement next year, which is going to cost say another £500 - £1000 then IMO it would be worth your while chopping your current motor in.

Personally, I would try save up and spend 7-8 k and get yourself something a bit newer, lower mileage, better specification, with more up to date toys and gadgets inside. Even then, a luxury BMW is going start costing you in repairs and maintenance in another 2-3 years.

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I agree that I would probably be buying into the same position with around £2k but that 740 proves it can be done (if its genuine), it almost seems rude not to have a look at least. I'm not bothered about the running costs as such but you have to at least consider all the options open to you. I don't think these cars are too bad for running costs really, my friend has just had his suspension rebuilt on his 2002 RS6 which cost him £2000, a new gearbox is £8000 apparently, now these are numbers to be scared of!

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Originally Posted by Ross

Can you replace it for the same investment?
What you have is at least known, a change is always a gamble.
Can you reasonably expect good service from your 540 once the current list is addressed? Sometimes you have to cut and run, better to do so before anymore investment.
Too bad we are an ocean apart. I'd be all over a 540it for what you say she'll bring there.

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Thanks! It would be worth a lot more on your side of the pond. Other than age related things there's nothing else that had signs of failing so I think it would be fine for at least another year after this. Its not a lemon and hasn't cost me much in the last year, its just bad timing that all these things have come at once.
I'd like to sell my CLK, use the e34 as my second car and buy something newer for my daily driver but my wife thinks the e34 is ugly( yes, I did consider divorce for a minute) so she would never swap it for her clk which only does about 2000 miles a year. I wouldn't be able to buy a new car alongside my e34 (and fix it myself over time) as I can barely justify having 2 cars never mind 3!

At the moment I'm thinking better the devil you know plus I really do love my e34, I just wish I could get to a point where it needed nothing, oh and I could shoot the OBC and it's dongs of doom.

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Originally Posted by leicesterboy15

my wife thinks the e34 is ugly

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Come on now. Really?

Any women that've had an opinion on my car have been quite fond of it. Granted an M-Sport is a touch bit different in appearance to a regular E34. Friend of mine that's got a '95 525iT is fond of E34's. She's been borrowing my M-Sport for the last month or so as her touring is off the road (guessing it's fuel pump related). She loves my M-Sport. And she keeps telling me how she keeps getting comments on how nice & impressive it looks. And those are mostly from other women she runs into on a daily basis.