Torque and Chrome

1976 BMW 2002i for sale- whats the lowest price for a steal, but still be fair?

So im driving my cousin 200 miles home and 50 miles into it, i see a BMW 2002 sitting at in a parking lot at some place. on the way home i pray its still there. it was. so i stop by and take a look, because what BMW enthusiast wouldnt want to be up close to the holy grail that the 2002 is. to my shock, its for sale. sure i figure i cant afford it, and the only other 2002 i ever saw was a 74 that the guy fixed up pretty nice and it would go for alot of money. but this one says $800 on the windshield. right away its a steal. it says it still runs, but that would amaze the hell out of me because of the neglected condition its in. the inspection ran out in '03, and it looks like its been sitting since then. i didnt see under the hood cuz the place is only open wednesdays-fridays. theres rust on the rear fender about the size of a dollar and looks to be rusted all the way through about the size off a quarter. all the rims are rusted, and its missing like 4 out of the 6 chrome strips down the waistline. and the interior could be better. the drivers seat is missing a chunk out of the one bolster. but all the light covers, glass, and body panels, except for that little bit of rust, are solid and not dented or cracked. i looked the best i could under the car (they just mow the grass around the car) and nothings hanging down. theres a little rust on the chassis next to the front passenger wheel, but other than that it looks to be pretty solid. i have no problem spending $800 on it if it still starts and can drive in a circle, but whats the lowest i could bargain for if it doesnt start, and if it does start, but doesnt move. i dont know if the guy knows what he has. but if hes a BMW enthusiast like me, whats the lowest i could ask for without ripping him off? im 19, been in love with BMWs since i was 9, and i drive a cavalier. sure id love an E46 or fix up an E30, but this... this is the ultimate fixer upper project car. i cant sleep thinking about what it would be like to bring this iconic car home.

Public Comments

1. '76 was the last year the 2002 was brought into the USA and I believe the last year of production for 2002. From that perspective, it has some historical worth/value. But most purists and 2002 cult followers would prefer the earlier "roundies" (rear tail lights are round instead of rectangular), they also didn't have those protruding bumpers front and rear. Instead they had bumpers that looked better integrated. The rule of thumb when buying any vintage car is to "buy the best you can afford". Mechanically, everything on this car can be repaired, replaced, or updated. Parts are still relatively available though some will cost you a king's ransom (in this case the missing side trim you speak of). It's the body and frame you need to be cautious and wary about. An $800 purchase such as this can EASILY cost you $8000 or more on body and rust repair alone. If you can do body repair work yourself, you're far ahead of the game. Good luck to you.