sweet deal or paper weight?

[Q-tuned]

I was looking this 525i that i saw on autotrader.com, but the dealership was closed, but as we drove on, at a gas station/garage there was a 535i for sale. it a 1989 535i, automatic, red exterior black interior. the paint was flat except for a glossy patch on the hood. the front left fender was dinged up and there was a easy fixable dent on the pass. door behind the driver door. when i looked in the boot, and under the carpet, it was imaculate, glossy red and all the rugs were there. there was a slash on one of the back pass. seats. the one thing that annoyed me, when i tried to pop the hood, ir wouldnt open , not budge at all. the lights, rims, glass, badges were all still good. the price is $2500. i font that a front fender can go for $295, and it WOULD need a new paint job, $1000 or so- Right?

any advice would be great

 

[Ghost]

My '89 535 lasted over 350k miles before the transmission failed. The M30 engine has been labeled one of the best engines BMW has ever made. The only problem that I had with it was the cooling system but that was over the course of many miles. I sold (practically gave) it to a friend that wanted it, he got the trans fixed and gave it to his sister who still drives the car with no problems. I miss her . Check the trans, oil pan gasket (can be costly to change on the M30) and the head gasket. The trans may be problematic with a high mileage car and a low mileage car that is driven for short periods at a time where the engine rarely reaches operating temperature can cause a bad head gasket.