Thinking about buying a 1976 2002

[spencer4554]

Hey,

Im new here, and I want to buy this 2002, and am wondering if it is worth the money asked:

http://newyork.craigslist.org/wch/cto/3110853959.html

I have seen it and talked to the guy. He has replaced a lot of stuff (starter, alternator, battery tires, brakes, struts, springs, steering) and has put a lot of money into the car. He obviously loves the car and wanted to restore it, just his wife seems to have turned against it.

The car has some rust issues. Rust spots on the body a few the spots the size of a dime, rust under the passenger side floor. Car needs a valve job at some point in the future, smokes on high rpm deceleration, not badly though. The front seats stitching is gone, not sure what to do about that, and the headliner needs to be replaced.

What do you think for $4900? What should I offer?

[1972_Targa]

IMHO, this a $2500 car on a bright and sunny day. Not sure where the $5-6K went, but doesn't seem apparent in pix. And this car has a long way to go with many issues to deal with. I'd move it on along if I were you...

[7602inBrooklyn]

There aren't many of them here in the NE, that's why the price, however I think you should look for one on the west coast (CA is good for 76s since they still have to pass smog there) and have it brought east. you may be able to pick one up for $2500 plus $800 to ship and then by the time you get to $4900 you're in better shape with less rust.

Hard to buy a car from so far away though without seeing it, but there are many on here that would probably help you look at it and offer opinions.

Can't hurt to look though, go see the yellow one...

[BiggyC]

Paul, I agree with you to a degree. That yellow '02 in NY would be worth $2500 in California, where they are VERY plentiful and rust free. (76's especially, since they can't escape the Cali smog laws).... But here in the rusty Northeast, this would a hopeful asking price, but not as insulting as you'd think. They are VERY rare out here, and rusted/crushed 20 years ago. Being in the Boston area, it took me forever to find a decent '02 for under $4K. My car has some rust, but the inner-fenders/shock towers/floor pans/important structural areas are clean. Outer front corners of front fenders (near turn signals under hood, rocker panel and lower rear qtr panel has small rust hole. This for a 6 hour ride into upstate NY......If the yellow car shakes out w/ a trusted mechanic (or VERY knowledgable local '02 guru), I think $4000 even would be fair. Get it on a lift and check out all areas for rust.

That said, if the buyer is adventurous and has time, he can get a GREAT deal on a '76 in CA, and ship (or drive) it back East. Fear rust like herpes, and you will do well.

[1972_Targa]

Biggy, I sit corrected. You East Coasters have a far better sense of what's happening there. I second (or third) the idea of a '76 Cali car. Could be a good move.

BTW, I lived off of Fuller Road in Watertown, MA from 1985-87, and drove the only 1976 '02 that I've ever owned into Boston every day. I hear it died a rusty death on Long Island (sold it when I moved to SF). Makes me miss Beaconwood Motors...

[williamggruff]

In the unlikely event that you're not overly familiar with 2002s, I strongly urge you to do some reading prior to purchasing.

Here's some light reading from the FAQ:

http://www.bmw2002faq.com/content/view/80/32/

Some more light reading from Rennsport:

http://www.rennsport.net/index.html

Even more light reading from Tom Laudeman:

http://laudeman.com/bmw_checklist.html

BMW 2002 Reference Books (this list is stolen from www.02restoration.com):

BMW Profiles : The BMW 02 Series, the Cult Car (Mobile Tradition) BMW P/No: 01.09.0.035.276

The BMW 2002 : A comprehensive guide to the Classic Sporting saloon ISBN: 1-85520-334-0

BMW '02 Restoration Guide: Covering the 1600 to 2002 turbo models : Mike MaCartney (The Bible) ISBN: 1-85520-451-7

BMW 1500-2002 : Walter Zeichner ISBN: 0-88740-213-5

BMW 2000-2002 : Autobooks ISBN: 0-85146-150-6

BMW 2002 Gold Portfolio : Brooklands Books ISBN: 1-85520-220-4

[williamggruff]

And when you're done reading, buy a 2002 from a dry state. As noted here and elsewhere, 2002s in the rust states fetch a substantially higher price than they do in dry states. For $5k, cars from California, Nevada, Arizona, etc. will generally have a relatively rust-free body, go-fast parts, and a "dry state pedigree". Not so for east coasties. A $4k dry state car might be a $5-7k east coast car. That's sufficient arbitrage to cover the cost of shipping and leave you with money to spare.

[ziff73]

Completely agree...my other concern would be, what is that horrible, oversprayed everywhere paint job covering? Rust is already showing through in pics..my guess is he realized he just doesn't have the time/skills/money to make it nice. Go to Cali, we're unloading 76s for cheap! Good luck!!

[c.d.iesel]

absolute rust bucket

$1000 - 1500 tops

needs $1,000's of of work and that doesn't address

the rust that will pop out soon.

RUN AWAY.

[spencer4554]

That is actually the original paint in that picture.

[spencer4554]

I guess there is some rust there too.

[scoTTlarock]

looks like it was originally Sienna Braun and repainted yellow, at least from those photos?

[GoFaSSter]

That is actually the original paint in that picture.

Original paint would not be all over the vin tag. That is poor prep and tape work from an aftermarket paint job.

[BiggyC]

Paul, Sorry to hear the untimely passing of the "Watertown '02"....You left the area just as I was arriving from NJ to attend Northeastern in '87, and been in and around Boston since. Watertown's a great area....We (Boston/New England), have a decent 02 crew here. The local club has been gaining some momentum the last couple of years.

http://www.bmw2002.us/

Did you happen to check out the Larz Anderson Museum for lawn events 'back in the day'?

http://larzanderson.org/events/lawn-events/

- Chris

[spencer4554]

I meant the majority of the stuff that looked like rust under the ugly yellow. Yeah but im not buying this car