engine and drivetrain Good deal?

[Guest Anonymous]

I drove down the street the other day and nearly went off the road because I was staring at this orange 1976 BMW 2002 for sale, I have since test drove it and am thinking seriously of buying it but I have a few questions. The car was painted 4 years ago, has had new emblems and a new grill installed, all the chrome was redone, has newly painted rims, and brand new tires. The inside is a little rough but not too bad. The engine runs smooth and the exhaust is quiet. It has an Automatic transmission the shifts smoothly. He is asking $2700 but said he would take $2400 if I had cash. Is this a good deal? The only problem with it is that the brakes are real soft, you have to pump it once to get really any brake at all and then you definately aren't coming to a screeching stop. How much should I expect to pay for brake repair? I'm mostly looking for something fun to drive, I don't have the money to restore something perfectly, that being said is a BMW the right kind of car for me. I love its style......

[Guest Anonymous]

personally, i wouldn't buy an automatic 76, no matter what the condition. i would wait and spend that money on an earlier manual tranny car. but if you like the car....

[Guest Anonymous]

is there a mechanical reason to avoid the automatic transmission or more of a personal preferance?

[Guest Anonymous]

By the way I'm in Indiana & finding any car from 1976 that isn't completely rusty is a chore in itself, this car isn't.

[Guest Anonymous]

the automatics aren't exactly an engineering marvel, and they make a pokey car even more pokey, especially an emissions-strangled 76. if the car is in good mechanical conditions, then its more of a personal preference.

[Guest Anonymous]

Plan on at least some SS brake lines. That could make all the difference. Next would be pads & shoes, after that, you may need new rear cylinders and a master cylinder. Less common, but still possible are the front calipers needing to be rebuilt. All DIY type stuff.

A manual transmision swap is a little more involved, but still do-able. Trans, maybe driveshaft, flywheel & clutch, pedal box and clutch hydraulics.

If YOU want it, and YOU feel the price is right, get it and enjoy it.

On the up side, auto tans cars are usually less abused.

[Guest Anonymous]

(nt)

[Guest Anonymous]

(nt)

[Guest Anonymous]

URL: http://www.lovingeveryminuteofit.com/bmw2002/

Take a kitchen magnet and go over the places rust normally forms. It will stick really good to metal and fall off on bondo areas.

A plus side is 76s should all have a 3.90 rear end. And a 5 speed can fit in there without any tunnel modification.

2400 isn't a bad price, if it is really good. But you should try to find another 02er in the area to check it out.

[Guest Anonymous]

because it's an automatic - deduction not because of mechanical reason - hell, most 4-speeds have crunchy 2nd gear syncros ! but - because of less driver involvement /control

and because of the hidden rust that We're all sure is there if you know how to find it.

and because you may want a car - not a restoration money pit, if the master cylinder fails next week , that leads to other brake repairs, pedal box problem descovery , pads, rotors, wheel bearings, your up to $1000 easy for parts and labor.........

any '76 is going to need major money eventually, 2002's are not "Just Buy And Drive - I just want to have fun - but don't want to spend alot " = forget about a 2002 if that's your feeling.

As I said in an earlier post, folks generally ask DOUBLE the real value for old cars.

interior not great also ?

add cost of GOOD used seats , new seat belts, another $500-1000

Gee, I'd like it to handle alittle better, = shocks, complete suspendion bushing rebuild , = another $ 1000

[Guest Anonymous]

...plus automatics are fine... if YOU like driving the

car.

[Guest Anonymous]

...I still think the deduction just because it is an automatic is not as significant as this. I think the 02a is a fantastic car to drive and there should not be a deduction if the transmission is in excellent condition just because it is an automatic.

My main concern would be the condition of the body. I tend to look at newly painted cars with care and concern. The expense of putting on all new trim, grills, emblems, rubber, etc. might mean the person cared about the work performed. However, always be very careful in your evaluation of the body.

Also, when calculating the value of a car, assume that return on investments net about a 30-40% increase in value; and, maintenance is a sunk cost. Also, this percentage for investments decreases as the investment itself increases. For example, a wise $5K expenditure might net 40% ROI, but a wise restoration costing $25K on the wrong car might net a 20 or 25% ROI. The law of diminishing returns...

For an example of maintenance, let's say it costs you about $200/axle to do the brakes. Brakes are a maintenance item -- a sunk cost. Spending $400 will not increase the value of the car by $400... it won't increase it at all.

However, let's say you restore the interior and it costs $2500 to do everything. This will increase the value of the car by $750 (30%) to $1000 (40%). So, use this number in establishing value. Would this now be a $3500 car with this new interior? Then, its purchase price is somewhere between $2500 and $2750.

IMO, there are other things that may add and/or subtract from its value:

- history... are the records complete and does it appear to be a car owned by a loving owner? This is why the Bruce Anderson car in NorCal had to be adjusted... at face value, the car is probably a $3500 car, but providence would increase this anywhere from $500 to $2000.

- combination of features... for example, I was looking for a sunroof, automatic 74-76 in Chamonix with Blue interior for someone. If this combination appears in the right condition, then it might have more value to us then the normal person. In this case, any orange is always at the bottom of my want/desire list -- so, I always subtract for orange because it doesn't have the same value to me.

- want/need/desire... I made a ridiculous offer on a 1976 2002 last week because I didn't need the car and wouldn't be heartbroken if I didn't get it. Well, the offer was eventually accepted (yep... I have 3 Chamonix 2002s now -- 1972 2002, 1974 2002 for someone else, and the newly acquired 1976 2002). So, the seller may not be willing to accept a low offer whereas you may want to make a low offer because you really don't need/want the car. The law of supply and demand...

In the end, none of our opinions make a difference. The purchase of a 2002 is neither reasonable or practical -- it is purely emotional. You are not buying one to make money, you are buying one because you love the car and you are addicted like the rest of us.

I hope this confused the issue! :-)

Brian

[Guest Anonymous]

I just got the big brake kit from Aardvark racing for my front brakes for about $270ish...new rotors, used calipers, new pads. They are great...I had similar 'bad brakes' bfore i did this.

[Guest Anonymous]

caculations tabulations percentages ROI's, RBI's, .......I like my valves at 0.006" cold , not 0.008"

[Guest Anonymous]

for this 2002? A guy ( Roy Hopkins) in our local BMWCCA chapter has an Inka 2002 parts car with an excellent black interior, needs some padding but the vinyl is tear free and in excellent shape. He's asking $200.00 for all and I'm sure he would be open to negotiating., front/rear seats, door panels, rear panels, armrests, etc.. all included. We are in Rochester, N.Y., if interested, you could e-mail Roy, he's at: roy@imrtest.com, don't let the automatic throw you off, my first 2002, a 1970, was an automatic.

Tim

'74 2002

'69 2000