Pretty much any running car that isn't completely disintegrated is worth about $1000.
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Am I off base with this offer?
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Yup unfortunately. I can completely concur with the comment about $2500 basket cases. 2k used to be a nice driveable e30 with maintenance done. Now when you find something for 2k or below expect to replace everything. The breakeven point appears to be 4k right now. You're either gonna pay that for a decent car or you're gonna spend that to getting your basketcase to that level.
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