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BMW 7 Series
#360 of 1317 Residual value / lease of 740i
Nov 03, 2001 (8:01 pm)
Carman et al:
Do you know what the fair residual value is for a CPO BMW 740i? Looking at a 1999 740, w/18k miles, priced at $43200.....so far so good..
Dealer is quoting 50% from BMW, which seems way low, with a payment of $780/month/36mos..... seems to me this is overpriced.... your thoughts? Given the new model on its way, have you seen any good 740 deals around the country?? Thanks..
#361 of 1317 arthur3
Nov 04, 2001 (3:24 pm)
I'm a Lexus LS430 guy but I can tell you that in NJ you can lease a 2001 740il (brand new - not a demo) listed for $68k+ for that money or less or buy it outright for around $55k. Don't get ripped off. Typically the residual on the new cars is 60-62% of list price after 3 years so. But when its that heavily discounted I'm not sure that rule holds. Maybe check the market price of a 95 740il on Edmunds to get an idea on a used one. But regardless that lease price looks way too high to me.
Nov 04, 2001 (3:53 pm)
I am looking at the same car (1998 740iL with 50 to 60K miles). What kind of money factor and residual % did you get? Also, did you get 15,000 miles/year? I figure I can get the car for 30 to 35,000. How much did you pay?
#363 of 1317 96 740i purchase
Nov 14, 2001 (9:55 pm)
Yes. The purchase price of $19,900 is great. The lowest I have seen. Spend $19 and run CAR FAX with the vehicle history info which will tell you every detail accident, salvage, or owner/location this car has lived. The miles are high but this is the first year (96) with no V8 recalls on the engine block. Have your mech. run a compression check on the engine. it should be 175-180 range.
#364 of 1317 1997 740iL Buy Opportunity
Nov 18, 2001 (10:40 am)
Hi - I have the opportunity to purchase a 1997 740iL for around $33K. It has 42,500 miles and was driven by an elderly woman who took impeccable care. Although she's no longer with us, her car is. Besides a tire replacement, are there any nagging problems with this vehicle? Another person I know has had a series of issues with his '98. I don't want a vehicle that is going to be in the shop every month. Don't have the time or patience for that. Never owned a BMW before. Any help would be appreciated. Thanks.
#365 of 1317 1993 740i
Nov 18, 2001 (5:17 pm)
I've never owned a BMW, but recently I came across one that has 120K miles that looks interesting. According to the current (second) owner, the car had its engine replaced in a factory recall at 80,000. Something about gas additives in the New England area harming the 4.0 Litre V8. Sounds like the car has been impeccably maintained - oil changed every 2500 miles, new water pump, brakes, and belts. Car is loaded - ABS, 6 Cd changer, etc. I've been looking at brand new V6s (Acura 3.2) and if the 4.0 Liter is a good engine and the BMW has a long life, I could pick up up for a fraction of the cost of a new 3.2 TL.
Owner is asking $14,900, but seems flexible. Kelly Bluebook has it $11,500 max. ANY THOUGHTS ON THE CAR'S RELIABILITY, MAINTENANCE COSTS, OR ANYTHING ELSE I SHOULD BE AWARE OF??
Nov 19, 2001 (6:59 am)
Stick with the Acura. BMWs are known for high maintenance costs, and you're buying a car with 120,000 miles!
The gas additives harming the engine enough to warrant replacement seems fishy to me. Why would the additives harm the BMW engine and no other car's engine? Either the BMW engine was so bad it had to be replaced, or one of the owners (or both) did not properly maintain the car.
I think if you buy the BMW you are in for a LOT of extra maintainence costs, so factor that in. The Acura will probably cost less in the long run.
#367 of 1317 Engine Recalls
Nov 19, 2001 (6:26 pm)
BMW agreed to replace a lot of V8 engines several years ago due to a problem with the cylinder walls, I believe. The cause was related to the fuel quality in the US. Maintenance can be high on the 7 series cars but there is still nothing to compare with the driving pleasure of a BMW.
#368 of 1317 v8 replacement
Nov 20, 2001 (4:19 pm)
The issue was this: in the U.S. we allow much more sulphur in our gas than in europe. BMW didn't account for this, and the sulphur damaged the block on quite a few cars. They extended the warranty, and replaced quite a fwe engines.
BMW will cost more to upkeep than acura, yes, but it's more like 30% more maybe, and you have to decide if it's worth it. I think it is. Good things cost more.
#369 of 1317 V8 Replacement and new Acura Vs 93 BMW 7
Nov 20, 2001 (7:46 pm)
Dave, Rmorin2, Lenscap
Thanks for your input! I am looking to hold the next car I buy for the long term, so I am leaning toward purchasing the new Acura. Just cannot afford the time (and $) of dragging what admittedly is a super driving machine (1993 7 Series) back to the dealership for costly maintenance.