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  • Thinking of buying one/need advice

    Hi all,

    I'm new to the site and thinking of buying my friends m coupe and looking for some advice.

    Its a 2002 s54 with 19" ac schnitzer split rims, peddles, lowering springs and front flippers.

    He inherited it from his dad 5 yrs ago and its just been sitting in his garage.
    It had a new engine at 35000 miles in 2005 and had just had the running in service done when his dad bought it, it is now on 41000 miles and has only ever had 1 oil change since 2005.
    I even checked the air filter and it was the original one from 2001 and was dirty.
    would this lack of service history effect its value?

    Now a bit about the cars condition.
    The split rims are very corroded and one has 3 small dents on the edge, plus the tyres are half worn but 15yrs old.
    The suspension has sagged drivers side rear so something is wrong there.
    And the brakes are quite rusty all round.

    So due to its age and lack of servicing I don't know if there could be anything
    else wrong mechanically?

    Paint work wise the flippers are badly chipped and the sills and quarter panels have a fair few chips plus little rust and there is a small scuff on the rear bumper.

    I've offered him 28k for it as I think it will need a few k spending on it and no history plus i'm having to take a hit selling my Lotus so don't think car prices are high at the mo.

    Sorry for the long post, any advice on costs? pricing?

    Carl

  • #2
    Welcome to the forum

    Comment


    • #3
      Welcome.

      Sounds like a very fair price to me. Hard to say as quite a mixed bag.
      Why the new engine and what colour is it?

      You could quickly end up a few g’s done sorting things out...
      S54 Seca Blue - ACS Short shift and Exhaust. Luverly.

      Comment


      • #4
        It's black metallic and I think the engine had bearing failure and was replaced by bmw under warranty.
        I've got 30k to spend but because it's not had any servicing and nearly 20 years old it could need lots spending on it.
        My friend wants 30k minimum for it as it will be worth 40k if I spend a bit on but I don't agree.

        Comment


        • #5
          Its so difficult to judge price, like I said I offered 28k but really 26k is what I would be happy to pay.
          I fear I will have to spend a small fortune on it and have got 30k max to spend including doing work on it.

          Comment


          • #6
            Would they agree to you getting it checked over? Maybe even with you paying for the check? That way both parties are better informed if you were not to buy it? And perhaps you can look at another car to compare/ piece of mind.

            Comment


            • #7
              For a bit of reference - my friend bought one recently - 2001 S54, 100k, for about what you’re offering.
              So twice the mileage but no condition issues. It’s usually more expensive to bring something up to speed than it would’ve cost to buy it right in the first place (assuming you’re paying to have the work done) but then you can’t polish out 50k miles if that matters to you.

              Bought mine at 50k, now on 120 with no issues. I’d rather buy a high miler in good nick than a low one with issues.
              So for me the condition would be far more relevant than the price.

              Defo get an inspection done.
              S54 Seca Blue - ACS Short shift and Exhaust. Luverly.

              Comment


              • #8
                Agree with the other comments about getting it checked out by someone who knows these cars, I have seen a low miler need over £10k of repairs due to corrosion and poor storage. The car on paper sounds desirable but little service history and replacement engine may limit its ultimate value. Good luck and hope it works out for you. ( I would rather start with a low miler needing work than a high miler which will always be less valuable if comparable conditions)

                Comment


                • #9
                  I think £28k is a very fair price given the issues you note.

                  You could buy a very good S50 for that but obviously the allure of the S54 means once you have it all up & together it will be worth more.

                  Seems £28k is cheap for an S54 so a good deal for you.
                  And £28k is good money for your friend considering it's got issues and you'll take it off his hands...

                  So a decent deal all around I'd say...
                  ----------------
                  David
                  1999 M Coupe (S50)
                  >>Read my journal here<<
                  2005 Smart Roadster-Coupe Brabus
                  2022 Range Rover Evoque PHEV

                  Comment


                  • #10
                    Difficult to value a car that's been stored and not driven as there could be numerous problems not visible until properly inspected - I wouldn't pay close to £28k for a car with issues mentioned. All these cars have taken a big price drop in the last couple of years and although some dealers are still advertising at high prices they are not selling unless realistically priced.

                    Comment


                    • #11
                      That's the trouble Dave, dealer cars are at crazy prices but they don't sell, there's a grey one on autotrader for 50k at bmw dealer but I'm sure it's been for sale over a year?
                      Last edited by Little Fella; 07-07-2020, 12:53 PM.

                      Comment


                      • #12
                        I think all you can do is outline to your friend the overall situation as regards current Coupe prices, the lack of service history, the work that needs doing, what you are prepared to offer etc. Suggest independent survey of condition with some costings for repairs etc and let him decide, don't be drawn into inflated dealer price listings as to what to pay for the car. As has been said on here before a car is worth what someone is prepared to pay on the day. If he wants a lot more, walk away and look elsewhere. Good luck
                        Pete C

                        2000 Z3M Coupe - Cosmos Black Metallic/Black interior. 805 of 821 RHD built

                        Previous BMWs

                        2003 E46 M3 6 speed manual - Carbon Black/Black interior.
                        2000 Z3M Coupe - Cosmos Black Metallic/Black interior. 692 of 821 RHD built
                        1986 M635
                        1985 E28 M5
                        1983 E28 528i Alpina

                        Comment


                        • #13
                          OK thanks for the input guys, will go back to him and see what happens

                          Comment


                          • #14
                            I always think a sensible thing to do is add up what you think it needs, and then double it. That’s probably a more accurate figure or quantity of work that will need doing than what you can think of and see.

                            It sounds like the minimum it will need is a full inspection 2 service, new fluids, filters, probably battery, brakes inspected and cleaned, wheel refurb, new tyres etc etc

                            That’s easily £2000 just to get started. As for it affecting future values, yes, a big gap of not being used is never a good thing, especially if it hasn’t been stored properly. But if it’s restored well by a good specialist, you’ll have a low mileage S54 and given how rare they are, I doubt it would be a bad investment but more importantly, you’ll have a hoot driving it.

                            Comment


                            • #15
                              Originally posted by Little Fella View Post
                              That's the trouble Dave, my friend has seen dealer cars at crazy prices but they don't sell, there's a grey one on autotrader for 50k at bmw dealer but I'm sure it's been for sale over a year?
                              People see prices like the Grey car and think theirs is worth the same but Hexagon's asking prices are normal 20-30% above true figures

                              Comment

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