other Does The Budget "driver" 2002 Exist Anymore?

[BlueBarchetta]

Go West young man, and pick up a '76 in California for cheapo dinero. As you may know, smog laws make the '76 a PITA for Californians (depending on county from what I've read)..... Being in Boston, back in June of 2010, I had to settle for a rusty '74 located in Saratoga, NY for $3500... A good 5 hour drive. The 'bones' are good, and slowly bringing it along (1st phase = safe, 2nd phase = fast, 3rd phase = pretty)... I'm just starting the 'fast' phase this year. I've got no complaints, but if I had to do it over again, I'd get a (relatively) rust free '76 CA car, and have it shipped back. Good Luck. The hunt is part of the fun....

[jrhone]

I bought mine for 3500. Needed engine work but ran pretty good. Dropped 3k in a used engine and trams. New clutch and carb plus misc bits and pieces. Now gonna do a top end rebuild a 5 speed conversion and then paint. When all is said and done ill have 20k into it. So a budget daily can turn into much more. BUT I'll have a restored 2002 with new paint and interior with 150+ HP. That's worth 20k to me. If you think like that and you can up your range to 10k you can get ALOT of car.

[Matt_P]

Figuring out how to insure a 10k 2002 that is daily driven, that is the hard part...

[TobyB]

Safeco didn't have a problem with that...

 

t

[ray_]

Safeco didn't have a problem with that...

 

t

Nor did State Farm, on a stated value policy.

 

YMMV by state, tho...

 

His, too!

[rover1]

kinda like my car its looks appualling/revolting but iv got a little south 20 grand into it. i tryed to sell it last year for USD$10,000 but most of the lookers wanted to pay $3,500. so i went and looked at the $8,000 to $12,000 all i found were nice paint jobs, hidden rust, everything oe thats not really the type of 02 i can appriciate. the thing that i trip out on with 02's is how expensive parts have gottin for 02's for example i just bought a aluminum radiator and did all the hoses that ended up being a little north of $500. so i think if your looking for a budget 02 you can expect lots of rust, no upgrades, cars that amatures have worked on, its just as C.D. stated in the 3rd verse. IT AINT HAPPENING BRO.

[Andy74tii]

If I were to do this all over again, I would take the F-Bomb (Paul W) approach. Find an original paint example that's got lots of patina, do no body/paint work, but redo everything mechanical. But that's only good if you're never going to sell the thing. As the previous poster noted, what sells best is a cosmetic restoration.....

[thinksound_mike]

If I were to do this all over again, I would take the F-Bomb (Paul W) approach. Find an original paint example that's got lots of patina, do no body/paint work, but redo everything mechanical. But that's only good if you're never going to sell the thing. As the previous poster noted, what sells best is a cosmetic restoration.....

that's something to think about for me. i'm replacing rot with fresh metal and mechanically making my car right (mostly little things). i always entertain doing a rattle can paint job once it's done; but i think i'd regret it. i'd be happier driving around with in a nice shade of sahara and primer camo.

[bikeboyt]

Hey Matt,

 

I'm just about to post a classified ad for a 72 tii. It has a rebuilt engine and tranny,all paper work ...service and owners manual, even the original key. I was going to restore it, but life has gotten in the way and it is not going to happen anytime soon, so she needs a new home. More info will be up shortly in the classified section or email or call (207) 925-6308. Anyway, I'm asking 3,000 which is what I paid. Thanks, Steve

[saaron]

I think what Eurotrash did in acquiring and building his car was a good approach.  He bought a car w/a good body from NorCal.  He put in the suspension pieces, brakes, LSD, 5 speed, seats, steering wheel, tires and wheels that he wanted.  The car is great fun to drive on twisty roads, and with the 5 speed, on trips.  Thus far he's left the paint, body and motor alone.  He did change the bumpers and put euro turn signals on it.

 

He did all the work himself, and horse-traded his way into at least some of the parts (though he has bought plenty new parts as well).  He probably has the lowest dollar invested per unit of fun to drive / rust free 02, of anyone I know.  Of course he invested a lot of time and effort to do all those things.  It shows if you are determined you can get a great driving 02 that you can keep indefinitely, while keeping to a somewhat realistic budget.  

 

We are in a strange (changing?  fluctuating?) period of 02 prices, it seems to me.  I think we are coming out of the recession (at least more people feel a little better about the future, apparently), and I think simultaneously the 02 is being discovered by a broader audience.  Something's up, that's for sure.  Hemmings says a perfect roundie tii w sunroof is slightly over $40k.  I can honestly say I never thought I would see the day.  I guess when that happens, it pulls the "value" (whatever that means) of the whole breed up a little.  

 

Here in Southern Ohio, there are either well-taken of 02s that have certainly had some money invested in them one way or another, or rust-buckets.  The owners of the nicer ones probably wouldn't sell their cars in your price range.  Maybe a few thousand more would be the floor.  

 

Good luck on your quest; hope you get back in.

 

Scott

[thinksound_mike]

that's a really smart approach. i try to fund most of my car stuff by selling my record collection and other stuff on ebay. slowly substituting one obsession for another

[LimeySteve]

I did a similar thing , I sold a bunch of leftover stuff from work that in effect cost me nothing ( customers don't want their old stuff back ) sold at the LA Father's Day Roadster Show swap meet. I had $3500 , found my car on Craigs List after about 9 months search. It had a bad rear repair so I got a used rear quarter & welded it on myself (Hence the German flag paint ) Then off here I found all my go faster goodies , factory alloys , IE for my header , front spoiler, here for the rear spoiler , Craigs list front seats, did all the work my self & have about $6500 in total for a well sorted track/ daily driver car . I also got for nothing a set of Dunlop Chrome Wire wheels & my race tires from Esty $100 for 4 & Miata Wheels$100 for 5 . Budget is the way to go , 2002 FAQ Classifieds & CL are MY friends Now I'm collecting parts for a new Hi Compression lower end , I'm still running the original block with flat top pistons & a modified by me 121 head !

Edited May 16, 2013 by LimeySteve

[jerry]

As recently as 5 years ago, 02's could be had for under $800 in runable condion here in the SF Bay Area.  Unfortunately, at the time, i had more yardspace and as a consequence, i didn't realize that i had acquired more dead 02's than any amateur should have.  it caused me to sell off 2 of my better cars because i wanted to reduce the herd. 

 

even with hoarding parts over the years, there's just no substitute for new rubber to keep rainwater out of the cabin.  The cost to do that in and of itself has made it more challenging to rehab these cars on a shoestring.  it helps if they will never be exposed to wet weather.  I'm currently driving a 6-fuse car that i got with a dead engine, but otherwise intact for $200 about 8 years ago.  i've done all my own work including rust repair, and i am a big proponent of inspecting used parts for serviceability and reinstalling if appropriate.  I have spent more money on door weatherstripping than i paid for the entire car.

 

the car looks like hell, but is pretty good mechanically and is my daily driver now that my former non-bmw DD died a couple months ago.  to move past its current condition would require several thousand dollars of parts and paintwork.

[Chamonix72]

If I were to do this all over again, I would take the F-Bomb (Paul W) approach. Find an original paint example that's got lots of patina, do no body/paint work, but redo everything mechanical. But that's only good if you're never going to sell the thing. As the previous poster noted, what sells best is a cosmetic restoration.....

This is the route that I have chosen. I might do a quickie Plasti-Dip repaint next year, but I might not. Under the skin just about all has been replaced, but the outside is scruffy. Perfect to drive the wheels off. But, as noted, I don't plan to sell.

[ecpreston]

mine's actually for sale now if you're interested:

 

http://www.bmw2002faq.com/topic/141901-1976-bmw-2002-fs-in-roanoke-va/