All advice needed! Want: BMW 1995-96 740i (iL)

hey

I'm in love with the 1995-1996 BMW 740i's and 740iL's... the most affordable for the newer looking design.

I would really appreciate any comments or advice you have for me on buying my first car.

I want to know a few things...

Are there engine problems? How many miles do you think should be the limit put on the car I buy? I'm thinking nothing over 90k, especially 100k.

Where did you go to buy, or where would be a good place to buy an affordable 740?

The main thing to keep in mind is that I don't want/cant spend more than $20,000, and spending around $16,000 is pushing it... but will hopefully be able to. If I could get a good running one at $14,000 that would be great.

What's the best method to pay it off? For a $15,000 car at about %5.9 for three years I would be paying about $350 monthly.

What should I do to make sure it's a problem free car, at a good price?


I have been driving for around a year, I'm almost 17. I have driven my dads expedition everyday, so this monster bmw will be just right for me :)


I will be using this car throughout the rest of high school and through college. Plenty of upgrades will be coming..






Please let me hear your knowledge!






MUCH APPRECIATED!

These BMWs are great. They ain't as reliable as a Lexus, but nevertheless, still extremely reliable. The most important thing when buying a second hand car is to check the service record. Make sure it's filled with ticks, and make sure Inspections have been made at least every 20,000km.

Try to find a 96, the 95s and the nikasil problem so watch out for cheap 95s. If the engine was changed under warranty then a 95 would be ok. If you find a 95 for a good price take it to the dealer for a leakdown test. See Roadfly.com for a more active 7series (e38) discusion. I have a 95 with the original engine and no problems and i got it for 17k, so they can be found just be carefull.