URGENT! Please Advise!! Should I buy this 740i e38 for sale?? Opinions

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Help everyone! I am wanting to buy a 1995-2001 7 series. I have been looking a very long time. I am located in the Vancouver Canada region and have found
a 1995 740i, silver on grey. It has about 93000km on it (about 57,700miles). The car looks in good shape, drives nice and appears to be pretty clean all over. The dealer ship is asking $17,800CAD which converts to about $15,140 US. I have been doing a LOT of research over the past few months. I understand that this particular model year had a block issue. I phone BMW Canada as well as the BMW dealer where the car was serviced. They said the car had a leak down test performed around 2000 or 01 and it passed. Therefore, this car has NO record of the block being changed and most likely has the old block. Apparently the block was not a recall and it was at BMW's discression whether or not to change the block. Should I be concerned about this? Is it an issue or will it be? I have set my self a maximum budget of $20,000 CAD ($17,000 US) to buy a GOOD, LOW mileage seven series in the 95-01 body style and I don't want a lemon. I would like to find a 97 or newer but I am having a hard time finding a 740i/L with low miles, in my price range in my area. There is not a lot for sale right now. I am willing to travel or ship a vehicle if necessary though. Should I consider buying this 95? Will the block be a problem? Is it a fair price? Or should I walk away? Does anyone have 740i/L for sale?? Please respond everyone. I know there will be a lot if input on this one. Thanks everyone!
Mark
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You might want to do a little research before buying:
http://www.bmwworld.com/engines/nikasil.htm
Will the dealer do another leakdown test for you, or better yet pay for someone else to do it?
One of the interesting things in the URL I posted above is: "...the effect is cumulative, so if the engine has ever been run on high sulfur fuel, the damage may already have been done and premature bore wear may result".

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nikasil is not a problem with high octane CANADIAN fuel, there is no sulphur... if the car is canadian, it should be fine but get one done anyway, be certain, also, tranny issues on this model.
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Did the car originate in Canada? Was it ever driven in the US?
It isn't too far from Vancouver to Bellingham, Seattle, Portland, etc.

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The Car was purchased new at Vancouver Auto in Vancouver, Canada

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The car was purchased new at Vancouver Auto in Vancouver, Canada.

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What are some of the tranny issues with this car? How much can I expect to spend for or 97 or newer 740i/L with 100,000km or less? Will I be able to find one for $20k or less Canadian? (Keeping in mind taxes and potenial shipping costs)

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http://search.ebay.ca/search/search.dll?cgiurl=http%3A%2F%2Fcgi.ebay.ca%2Fws%2F&fkr=1&from=R8&satitle=bmw+740 auto tranny will need a rebuild, they always do, it just depends when, costs $1000 to 4k if you are careful it will be cheaper look here - the one you saw is way over priced. http://search.ebay.ca/search/search.dll?cgiurl=http%3A%2F%2Fcgi.ebay.ca%2Fws%2F&fkr=1&from=R8&satitle=bmw+740
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Yeah, tranny has lifetime fluid, doh! Get it changed asap.
I bought a 94 730i V8 E38 last month and I adore it. Great car. Other issue is with the oil pump bolts backing out, you'll want to get them loctited in place at the next oil service.
There's a good e38 board at bimmer.roadfly.com/forums/e38/
7's are dear over there, I only paid 2k gbp / $3.5k for mine with FSH and 120k miles. Nobody in the UK wants big cars. I'm averaging 25mpg but have had over 30 on a run.
--
Who needs a life when you've got Unix? :-)
Email: snipped-for-privacy@unixnerd.demon.co.uk, John G.Burns B.Eng, Bonny Scotland
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So what can I expect to pay for a GOOD 740i/L with low mileage in the 95-01 body style? I would like a 97 or newer perhaps one with Navigation. I really like the 740i Sport but I think to find one with low mileage will put my well past my 20,000 CAD total budget. I've look into to a couple on Autotrader.com but they've turned out to be serious scams. be careful!!(This is another topic in itself!) anyway... Will I be able to get a good one 97 or newer for under $20k CAD?
John G.Burns B.Eng, Bonny Scotland

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John Burns wrote:

I just paid a little more than that for a '96 4.4 with similar mileage but it needs lots of things doing. I got 31mpg on a run through a series of 50/40mph roadworks but I doubt I'd ever get more than that.
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The prise is to high for that bmw 740i of that year.Even don't think about.i have sold one of those for much lower prise and newer.
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check ur email
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hello, I have a 94 540, same car essentially. firstly, mine is worth about $8k. with 200k kilometers Yours is overpriced as far as I am concerned, I would walk. Have a leakdown performed NOW, who cares about 5 years ago! Mine runs very well, but the auto tranny is likely going to need a rebuild around 150k if not sooner.
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Get all service history and be sure the issues the V8 had were fixed... rad, water pump, valve cover gaskets, power steering l;eaks, PCV plate replaced..... Front suspension bushings wear out regularly as well, when were they last done ? (control arms and bushings) If the car is PERFECT, then the price is ok, BUT, if it needs 4k in repairs (arms, bushings, shocks..... ) then forget it. BTW, sometimes you are better off getting a 740 with moore mileage on it, that way, more issues have been fixed and you should be good to go. email me at sharkmanbmw at hottmail dott comm
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Go to http://www.bimmer.info/forum/forumdisplay.php?f  and tell sharkman540i sent you, go in the 5 series forum, it is the busiest and will produce the best results for you. If the car is PERFECT, then the price is ok, BUT, if it needs 4k in repairs (arms, bushings, shocks..... ) then forget it. ALSO, who will do your repairs? the car is easy to work on if you are handy, but if not, you had better find a good BMW mechanic and prepare to pay a lot. My 540 has seen the shop many times in 2 years, I won't tell you how much$$$ it would scare you!
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Mark Amero wrote:
    [...]

I had an E38 740i with its original Nikasil block M60 to ~185,000 miles without problems, saw it running around and still looking shiny a month or two back a month or two back.
Here in the UK high sulphur fuel is a thing of the past and the view is that any problem blocks will have shown up - bad idle, down on power - or died by now.
If the leakdown test happened after high sulphur fuel was withdrawn I'd not worry. Springs and bushes were the only non service parts mine ever needed, look out for dead pixels in the dash and a/c displays though.
The price is higher than it would be in Scotland but there is no market for s/h big cars here.
They're great cars and last well, hope you get a good 'un! :)
A
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What are the prices the rest of you 740 owners paid for your used 7 series? Lets hear about your cars. What year? How Much? How many miles? What options? Thanks again guys! Keep it coming.

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Okay, Here is a new twist on my first post. The first car I mentioned looks like it's sold. ( I guess I wasn't meant to have it). Here is the thing. I have found two new cars that look interesting. This first one is a fully loaded 97 740il with 61,000 miles asking $16,800. The second one is a 99 740il. It has less options (no phone, etc) and has higher miles 74,000 and they are asking $16,000US.
What would you guys recomend and why? Should I go for the older car with more options and lower milage, or should I go for the newer 740il(I like the color and the updated look) with higher miles and less options. Tell me what you think? Let me know what would be good prices to offer as well. Thanks again every one. You've been very helpful. Please do not stop responding to my posts. Look forward to hearing from everyone as soon as possible!
Mark
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The number of miles involved is about a year's motoring and shouldn't be a factor in price. Since you used the term "like" wrt the '99, I'd go with that. Especially since the phone's utility may be limited, and the extra options are driving up the price - which seems to be a large factor for someone on a budget like you.
Floyd
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