Well, assuming you could find a replacement M30 for around $500 and you don't mind doing all the work yourself, it could be a pretty good deal if the tranny and suspension are solid.
Other things to check on an E32, though... does it have SLS? Is it working? Bushings/interior/etc? Some of that stuff gets expensive to replace.
Of course, you might even get lucky and be able to do a head gasket and a little freshening on the head, but I'd assume at this point that you needed a whole engine.
Feeling "Wrenchy"?![]()