Please tell me why I shouldn’t buy this “cheap” 2001 BMW 740i M Sport

Jeff Glucker

/comment

Comments

I am no BMW fan. Sure, I like a handful of models from a time when BMW stood by its Ultimate Driving Machine tagline. But the modern stuff leaves me cold. Still, I have fond memories of those old BMW Films. An E39 M5 soaring through the air or a Z4 beating the devil. An original X5 ripping through a jungle. All great shots done by top-tier directors telling fantastic short stories. From that era of BMW, I have one car that remains on my Must Own list. It’s the E38 7 Series.

This is the 3rd-generation of BMW’s flagship sedan. You can have one with a V8 or a V12, but either one still looks like a stunner to this day. And the cars are (relatively speaking) dirt cheap. I found one in California with a bundle of miles (209,000), clean exterior and interior, and the M Sport package.

The seller is asking $3,700 or best offer. If I could get the price down to $3,000 or under, why shouldn’t I buy this? Please talk me out of getting this one.

“Please…”

Here’s the link to the ad. And here’s a link to an even cheaper one…

About

Jeff Glucker

Jeff Glucker

Jeff Glucker is the co-founder and Executive Editor of Hooniverse.com. He’s often seen getting passed as he hustles a 1991 Mitsubishi Montero up the 405 Freeway. IG: @HooniverseJeff

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38 responses to “Please tell me why I shouldn’t buy this “cheap” 2001 BMW 740i M Sport”

  1. Maymar Avatar
    Maymar

    Rational reasoning is that it’s a biodegradable-era German car, and unless it’s had *everything* replaced, there’s headaches coming

    Irrational answer is you should hold out for a 750.

    Reply
  2. Sjalabais Avatar
    Sjalabais

    What could possibly go wrong…?

    /s

    Reply
  3. smalleyxb122 Avatar
    smalleyxb122

    Talk you out of it? Do you know where you are right now?

    Reply
  4. Fuhrman16 Avatar
    Fuhrman16

    No Jeff. No more project cars until the Wombat is finished.

    Reply
    1. dead_elvis, inc. Avatar
      dead_elvis, inc.

      I think he’s spending too much time around Jalopnik, and David Tracy’s tendencies have infected him.

      Reply
  5. mdharrell Avatar
    mdharrell

    About an hour ago a guy stopped in front of my house and said he’s got a non-running ’72 Saab 99 he’s thinking of selling. I asked him to keep me in mind, so it’s fair to say I’m not in a position to give anyone advice about anything.

    Reply
    1. paulz67 Avatar
      paulz67

      So, Triumph motor and a freewheel? I see no problem here. If it were a later motor with stripped water pump gears, I’d suggest plumbing in an electric water pump and motoring verily onwards. This might even be a normal car for you, god forbid.

      Reply
      1. mdharrell Avatar
        mdharrell

        He said it has the B engine, so I’ll have to wait and see. Our conversation didn’t get into a great deal of detail.

        Reply
        1. paulz67 Avatar
          paulz67

          Had to look it up in the shop manuals… first year of the B engine. The usual ‘fix’ was to beat on the firewall and stuff in a 16v motor. Again, I see no problem in your upgrading to 1970s Saabs.

          Reply
    2. 0A5599 Avatar
      0A5599

      I bought a non-running car from a guy who walked up to me at a red light.

      I thought he was going to ask for spare change. Instead, he said, “I’ve got one of these the exact same color. Want to buy it?” His asking price pretty much WAS spare change.

      Reply
  6. Zentropy Avatar
    Zentropy

    I’m the wrong guy to ask. I think the standard-wheelbase E38 is perhaps the best looking full-sized sedan ever. Period. They are gorgeous and fantastic driving cars, and probably worth every maintenance headache they’ll give you.

    I would wholeheartedly go for it.

    Reply
    1. nanoop Avatar
      nanoop

      I don’t really like BMW but I do agree that the e38 has aged very gracefully indeed.

      Reply
  7. njhoon Avatar
    njhoon

    You should buy it. Then immediately go buy an LS and a tremec 6sp. For under 10 your done and life will be full of smokey burnouts while sitting in fine German comfort.

    Reply
  8. roguetoaster Avatar
    roguetoaster

    You should get it, if you have a place to keep it. Yet I think you should go a different route with an engine swap and install an M43 or N42 in 1.8L guise with a manual. Not only will you have a 1/1 car globally, but it will probably make you a better driver in the same way as learning how to drive a track all in 4th gear.

    It would certainly be a unique experience.

    Reply
  9. I_Borgward Avatar
    I_Borgward

    Know someone who knows someone at a BMW parts desk? Have them look up prices on some replacement parts. $3K might just get you a water pump and an air freshener.

    Reply
    1. Zentropy Avatar
      Zentropy

      Water pump: $163 (including gasket). That leaves $2837 left over, so you can go wild with the air freshener.

      Reply
      1. Sjalabais Avatar
        Sjalabais

        …which would, honestly, stay completely in line with the used-BMW-ethos.

        What door?

        Reply
      2. Sjalabais Avatar
        Sjalabais

        …which would, honestly, stay completely in line with the used-BMW-ethos.

        What door?

        Reply
  10. Lokki Avatar
    Lokki

    I talked about my 2019 5 Series the other day – now let’s talk about my wife’s car. It’s a 1998 328I which we bought new for her. It currently 69,721 miles on it. Let me explain the mileage by telling you that my wife is a sweet Japanese girl* and that she doesn’t drive in the sense that you and I use the word. When we lived in Japan, she could only recognize two types of car: taxis and not-taxis. When I was transferred back to the States by my company it became necessary for her go to driving school and, subsequently, to have her own car. We chose our home in Dallas because it is very close to her office in Las Colinas. So… although she drove to the office every day the distance was just enough to warm up the engine; about five or so miles each way. We both retired at age 55 about 10 years ago now and so the car essentially sits in the garage most of the time hooked to a battery tender. She had covered parking at work so the brutal Texas sun didn’t get to it, and and the only salt used here in on the rim of a margarita glass. She’ll go out to lunch or do a bit of shopping now and then, but that’s it. She loves her car, and simply refuses to drive my car… period. I can’t rationalize replacing her car with a new/newer one to just sit in the garage, and she loves it, so we keep it. It still looks new because it avoided the sun and the salt.

    Now with that backstory:

    I’ve always religiously maintained the car, with oil changes once a year, and radiator and brake flushes every two years as recommended by BMW. Beyond that it’s just been tires, and age-related repairs. I pencil in about $1500 a year for “something”, and it is always something, every year, to keep that average going. Did you know that the top reservoir of the radiator is plastic on this generation of BMW? It cracks with age: unrepairable, buy new radiator. Did you know that when you replace the brakes every 25,000 miles it’s not just pads but rotors too? About $200 a wheel. Did you know that if the cooling fan thermostat fails, it fails in the on position (those Germans!) so that it’ll drain the battery. Must be replaced. The Chinese part is $60; the German $110. However the nose of the car must be disassembled to access the part. $1100. My favorite though was when a little plastic gear in the reclining mechanism of the (never used!) passenger seat failed and put the seat in full recline. Gotta fix it. The gear, about the diameter of my little finger, was $55. Removing the seat, disassembling the motor and replacing the gear, $500.

    And so it goes.

    Given the mileage and additional complexity of the 7 Series over the 3 Series, I’d pencil in an average of $2500 a year, expecting that to mean $5,000 in one year, some year. For what? Well, another quirk of BMW in this era was that the automatic transmissions were sealed because they they were filled with “lifetime transmission fluid” at the factory. I know this because my mechanic told me this for my wife’s car and I changed it. Your Previous Owner(s) probably didn’t even if the car had every suggested service. So, you got that to look forward to. Of course, I’m just guessing. It might be something else.

    Reply
  11. Lokki Avatar
    Lokki

    I talked about my 2019 5 Series the other day – now let’s talk about my wife’s car. It’s a 1998 328I which we bought new for her. It currently 69,721 miles on it. Let me explain the mileage by telling you that my wife is a sweet Japanese girl* and that she doesn’t drive in the sense that you and I use the word. When we lived in Japan, she could only recognize two types of car: taxis and not-taxis. When I was transferred back to the States by my company it became necessary for her go to driving school and, subsequently, to have her own car. We chose our home in Dallas because it is very close to her office in Las Colinas. So… although she drove to the office every day the distance was just enough to warm up the engine; about five or so miles each way. We both retired at age 55 about 10 years ago now and so the car essentially sits in the garage most of the time hooked to a battery tender. She had covered parking at work so the brutal Texas sun didn’t get to it, and and the only salt used here is on the rim of a margarita glass. She’ll go out to lunch or do a bit of shopping now and then, but that’s it. She loves her car, and simply refuses to drive my car… period. I can’t rationalize replacing her car with a new/newer one to just sit in the garage, and she loves it, so we keep it. It still looks new because it avoided the sun and the salt.

    Now with that backstory:

    I’ve always religiously maintained the car, with oil changes once a year, and radiator and brake flushes every two years as recommended by BMW. Beyond that it’s just been tires, and age-related repairs. I pencil in about $1500 a year for “something”, and it is always something, every year, to keep that average going. Did you know that the top reservoir of the radiator is plastic on this generation of BMW? It cracks with age: unrepairable, buy new radiator. Did you know that when you replace the brakes every 25,000 miles it’s not just pads but rotors too? About $200 a wheel. Did you know that if the cooling fan thermostat fails, it fails in the on position (those Germans!) so that it’ll drain the battery. Must be replaced. The Chinese part is $60; the German $110. However the nose of the car must be disassembled to access the part. $1100. My favorite though was when a little plastic gear in the reclining mechanism of the (never used!) passenger seat failed and put the seat in full recline. Gotta fix it. The gear, about the diameter of my little finger, was $55. Removing the seat, disassembling the motor and replacing the gear, $500.

    And so it goes.

    Given the mileage and additional complexity of the 7 Series over the 3 Series, I’d pencil in an average of $2500 a year, expecting that to mean $5,000 in one year, some year. For what? Well, another quirk of BMW in this era was that the automatic transmissions were sealed because they they were filled with “lifetime transmission fluid” at the factory. I know this because my mechanic told me this for my wife’s car and I changed it. Your Previous Owner(s) probably didn’t even if the car had every suggested service. So, you got that to look forward to. Of course, I’m just guessing. It might be something else.

    Reply
    1. Lokki Avatar
      Lokki

      This is just a follow-up for this year’s expenses. Since it’s come so close after our discussion, I thought I’d add this to the thread.

      I generally do my annual oil change in March each year, and while contemplating that, I realized that the car (my wife’s car to be precise) has never had the belts or hoses replaced…since 1998. So in addition to the oil change, I asked my shop to do them. This also led to them checking the water pump as this era BMW has both a plastic impeller on the pump AND a plastic pulley wheel; suffice to say they’re being replaced along with the 22 year-old overflow tank. Oh, and then the big surprise that’s really no surprise – the engine mounts are sagging. That is a problem that can’t be ignored either. As long as it’s there, I’m having the oil pan gasket replaced to fix a small leak. Cars start going to Hell when they develop little problems that aren’t worth the money or trouble to take care of.

      So, Poof! There’s $2,000 for this year, for a car with nothing wrong with it.

      Sure, sure, I could do all this less expensively if I just bought the parts and did the labor myself, but I’ve done water pumps and engine mounts on my Alfa Spider, and well, – no thanks – I’d rather pay somebody to do them on the BMW, with the bonus that the car won’t be torn apart for two weeks.

      Reply
    2. Lokki Avatar
      Lokki

      This is just a follow-up for this year’s expenses. Since it’s come so close after our discussion, I thought I’d add this to the thread.

      I generally do my annual oil change in March each year, and while contemplating that, I realized that the car (my wife’s car to be precise) has never had the belts or hoses replaced…since 1998. So in addition to the oil change, I asked my shop to do them. This also led to them checking the water pump as this era BMW has both a plastic impeller on the pump AND a plastic pulley wheel; suffice to say they’re being replaced along with the 22 year-old overflow tank. Oh, and then the big surprise that’s really no surprise – the engine mounts are sagging. That is a problem that can’t be ignored either. As long as it’s there, I’m having the oil pan gasket replaced to fix a small leak. Cars start going to Hell when they develop little problems that aren’t worth the money or trouble to take care of.

      So, Poof! There’s $2,000 for this year, for a car with nothing wrong with it.

      Sure, sure, I could do all this less expensively if I just bought the parts and did the labor myself, but I’ve done water pumps and engine mounts on my Alfa Spider, and well, – no thanks – I’d rather pay somebody to do them on the BMW, with the bonus that the car won’t be torn apart for two weeks.

      Reply
  12. 0A5599 Avatar
    0A5599

    It will look great in your driveway while you Shelter In Place, and you’ll be able to check ownership off your bucket list.

    Then do a web series on how expensive it is to fix whatever breaks, and make the money back from all the pageviews. The can of Fix-a-Flat in the front seat suggests your first episode could be spending $800 at the tire store.

    Reply
    1. Jeff Glucker Avatar
      Jeff Glucker

      “and make the money back from all the pageviews” https://media0.giphy.com/media/l30ZkRF3zXNGEe1Jvu/giphy-downsized-medium.gif

      Reply
  13. Batshitbox Avatar
    Batshitbox

    The words, “I’m going to buy this 20 year old 740i M Sport” have always been prefaced with, “Hold my beer”.

    Reply
    1. crank_case Avatar
      crank_case

      It’s Bavarian, so “halte mein weissbier” probably applied when new too.

      Reply
  14. crank_case Avatar
    crank_case

    Unless there’s an unobtainable difference in average prices stateside, you should hold out for a V12. Not just more awesome, but more reliable too apparently, especially vs. the early nikasil liner V8s.

    Reply
    1. outback_ute Avatar
      outback_ute

      Had they sorted out the V12 by then?

      Reply
      1. crank_case Avatar
        crank_case

        Just based on the concensus of several 7 and 8 series ownere, the V12 is an older, more conventional engine than the M62 too. Never used Nikasil liners, no VANOS system.

        Reply
    2. Jeff Glucker Avatar
      Jeff Glucker

      Interesting, the 12 is the more reliable one? I would’ve guessed the opposite, that’s good to know

      Reply
      1. 0A5599 Avatar
        0A5599

        “More reliable” is a relative term. http://www.roadkill.com/eight-cylinders-bad-twelve-cylinders-good-v12-engines-lemons-racing/

        If you have room to stash some parts cars, now is probably a good time to stock up on them.

        Reply
  15. Smaglik Avatar
    Smaglik

    Sack up, Jeff.

    Do it.

    Reply
  16. neight428 Avatar
    neight428

    Maybe find a late model Caprice cop car and swap everything? Those cars are mighty good looking, but the market knows…

    Reply
  17. William Byrd Avatar
    William Byrd

    That’s near disposable. The real issue will be, how much do you have to spend to keep it going?

    Reply
  18. remerus Avatar
    remerus

    Tips from a recovering BMW addict: Do it. Absolutely, 100% do it.

    These are magnificent machines that will redefine what you consider your limit for a roadtrip day. I once did 1100 miles in about 15 hours at somewhat supra-legal speeds here in South Africa (their “happy space” is around 150-160km/h (95-100mph) – the car settles, becomes calm and is utterly magnificent).

    It was absolutely effortless – very little fatigue, no back-ache or other pains at all. That trip was in the ’91 E32 730i who gave her life about 5 years ago when a geriatric skipped a red light at a crossing in total oblivion to the fact that she needed to stop. That car had just under 300k on the clock, original engine (never opened but religiously maintained mechanically) and I have no doubt another 200k would’ve been possible.

    The 528i (’98) suffered a catastrophic sudden loss of right-front tyre pressure one night just before midnight on the way to my nephew’s christening the next day, due to a concrete block carelessly dumped on a national highway by some fuckwit. We were going at about 140-150km/h (90-95mph) at the time.

    There was a bit of a bump in the steering (probably from hitting the actual block) followed by a lot of noise (from the tyre basically exploding) and I still remember turning the music down and saying to my wife “I think we just lost a tyre”. We pulled to the side of the road, replaced the wheel with the spare, and lost no more than 20mins out of our of the trip. The car just dealt with the fact that traction was compromised as if it’s no big deal. I was absolutely floored by the utter lack of drama, compared to the behaviour in similar situations of other cars I’ve had.

    But: Understand that she will eat all the money, unless you keep on top of the maintenance religiously. She is German, so if the interval for changing e.g. the coolant is 30k, do not delay it until you get round to it. She will remember and hold that breach of contract very very close to her glorious, seductive V8 heart while showing no outward signs of trouble brewing. Much like She-Who-Must-Be-Obeyed, an old BMW will give you enough rope to hang yourself many many times over and then proceed to string you up on the nearest gallows when you can least afford it in time or money. Service history on these things are EVERYTHING, unless you have plenty of time and money to throw at oh-God-I’m-so-very-sorry-mein-lieblich-we-are-not-worthy maintenance.

    On a more serious note (once you have her in the driveway 😉 ):

    * Replace ALL fluids IMMEDIATELY – gearbox, diff, power steering, coolant, engine oil, brake fluid, the lot. And do not skimp on quality here – remember, she’s German and wants the best. Full synthetic everything is required. In return for your loyalty in keeping her properly fed with the good stuff, you can easily get 300k+ on the mechanicals of these (regular feedings will be required).
    * The cooling systems are made of paper mache, replace with actual metal components as soon as feasible (search the BImmer forums for recommendations). Do not forget the cooling system hoses – they look absolutely fine from the outside but crumble from the inside, on a schedule. Replace!
    * Find a tame, local specialist that you can trust – they are worth their weight in gold and tend to be infected with the same disease, so you’re among friends.
    * Invest in an OBD scanner – it doesn’t have to be expensive, but it is a lifesaver. You will then at least know what you’re worrying about when she misbehaves (and she will).

    Besides that, there are hundreds of guides, forums and YT videos out there that will help with anything that might break. And as @Lokki said, budget about $2500 per year, just because.

    People get as passionate as all fuck about these, for very good reason.

    I still miss both mine terribly – if I have the financials to do it again I will, in a heartbeat. But not before…

    Reply
  19. shitbox connoisseur Avatar
    shitbox connoisseur

    ayoooo ive got a 2001 740i m sport. Love love love these wheels, if I ever get rid of the car im totally keeping the wheels. I got mine for $1200! ? This 4.4L RWD V8 is some of the most fun I’ve had in a daily driver. Its faster than my project car. This baby will light the tires up from a dig no problem any time. It steps out sometimes if you give it too much sauce but it’s very controllable with the suspension setup.

    You’ll probably need to have the DSC module rebuilt. You’re also gonna run into a lot of weird electrical quirks and almost all of the plastic on these cars is complete shit. Hopefully you don’t live in the rust belt like myself because I’ve had major rust problems with my fuel tank and lines.

    oh and 1 silver lining is that if you do get one and it dies, you can just LS swap it and be as cool as this dude! https://youtu.be/cU8pCd4lTM8

    Reply
  20. M73Nut Avatar
    M73Nut

    100% buy it. Got my 750il 5 years ago now it’s been an absolute unit. Also v12 has no vanos to worry about, simple reliable engine 195k on mine bought it with 155k

    Reply
  21. Taylor Avatar
    Taylor

    Having two of these for a period of 20 years, the maintenance is about $1000/ 10k miles. Hopefully the plastic bits in the cooling system have been replaced, like the expansion tank. If it is rusty, a gas tank will also go. Else they are not too unreliable in the 60-160k mile range. The plastic timing chain guides like to wear out at high mileage, that that’s the biggest concern for a v8. V12’s are going to be more expensive and harder to find parts for.

    The driving experience and the looks are excellent, especially with those wheels. Fuel economy on the highway isn’t half bad at 25-29 mpg.

    Reply