Help! should i buy this car

[newbmwbuyer]

Hey everyone

Just some questions

I am thinking about purchasing my first BMW and also my first car

It is a 1988 325i convertible

It has a pretty decent exterior, no rust or anything. And mechanically it runs fine (at least that's what the dealer tells me)
It's an automatic and has 140,000 miles

It comes with a 6 month warranty

It's 3500 dollars

I want to know

1) is it a good deal, or am i getting ripped off
2) how much money does it cost to maintain this twenty year old car
3) Is it going to be reliable
4) how much money do i need to spend on this car for the first year excluding gas of course
5) should i trust what the used car salesman say or get a mechanic to look it over

 

[Big Daddy]

Where I live the book value of that car is between $2200 & $4200 depending on condition. My biggest concern would be the automatic transmission, that is a lot of miles for one of those babies, and they can be expensive to replace. I would not buy the car without having it checked out by another garage, one that specializes in German cars. Reliability cannot be determined without examining the car, and than at best your going to get and "educated guess"! If it has been maintained properly it should be good for up to 300k or more, but at this point in time it may be getting to where it needs some new parts.

 

[E30m42cab]

Yeah, that tranny is getting kinda old, and I would almost assume it's already been replaced or fixed before. Your first concern is going to be the timing belt and water pump. If they haven't been done in the last few years, they'll be due for replacement. You definately want a BMW specialist (or german car guy) to look it over. There are cheap things to replace, and expensive things to replace, you should know what might be wrong with it underneath.
$3500 is decent price, it the body is in really good shape. I paid $6000Canadian for my 318i convertible three years ago, and it was in really good shape which are few and far between in my area. Also, make sure the roof is in good order, and check under the carpet in the back seat for rust/water that has leaked in. $3500 is fine if you don't mind paying to maintain the whole car on a regular basis. Nothing that is 20 years old is going to be perfect... just make sure you know what is covered under the warrenty.

 

[Chesty Bonds]

I think the previous post could be a little misleading insomuch that the M20 engine in a 325i has a timing chain, not a timing belt so to have that changed is not so much of an issue. The chains need to be tightened, and sometimes the followers wear out, requiring replacement. As for the gearbox, if it's been maintained properly (as big daddy said) then the mileage shouldn't be a problem at all.

 

[Doughnut]

I think the previous post could be a little misleading insomuch that the M20 engine in a 325i has a timing chain, not a timing belt so to have that changed is not so much of an issue. The chains need to be tightened, and sometimes the followers wear out, requiring replacement. As for the gearbox, if it's been maintained properly (as big daddy said) then the mileage shouldn't be a problem at all.

M20's (6 cyl) have timing belts, it is the M40 (4 cyl) that have timing chains.

 

[echothreezero]

+1 it has a belt, not a chain.