I'm thinking, buy the best car possible with $3k and use the remainder for preliminary repairs. I believe you should be able to get an undamaged, mechanically sound, relatively rust-free, but unrestored car that will need paint, interior and trim restoration. But the car should run pretty well and pass safety/emission tests. There are several good pieces from this board on buying a good 2002, such as: http://www.bmw2002faq.com/content/view/80/33/
Good luck.
___________________
Roger
'72 Malaga

Look for something in the $2500-3000 range. Don't go over $3000 if you can help it.

That'll get him a good, running car with a few problems. Use the remaining $$ in the budget to change all the fluids (oil, coolant, hydraulic), possibly change brake pads/shoes/rotors/drums, change plugs and wires and whatever else it needs to become a driver.
After that, he can do maintenance and upgrades on an as-needed or as-possible schedule.

The initial $2500-300 should get him a running car with no major problems. The engine should run and all systems should be functional. If the motor or transmission is crap or there is rust anywhere, the price should drop to below $1500. To give you a comparison, I bought this car for $1200. It had 108K miles on it, a bit of rust in the rockers and a blown head gasket. Otherwise, it had functioning brakes, suspension and the interior was nice.


_________________
ClayW
1976 Fjord 2002 Sunroof

Project Blog

"Finish the thing, do it right the first time and drive the son of a bitch!"
-Gray Baskerville on hot rod advice

I paid $3500 for a 75 2002 with almost no issues. Minimal rust, is the most important thing.
_________________
75 2002

hundred. It is undergoing engine work, will need suspension work and some other odds and ends but other wise in great condition.