Possible issues with a reconditioned m42?

[cello2119]

I have the chance to purchase a e30 318is with 220,000 kms and a fully reconditioned engine with roughly 40,000 kms on it. My dad would be giving me a small loan to help me out, but he's pretty skeptical about reconditioned engines because he's had trouble in the past. Just wondering what are the potential issues that could go wrong with it being reconditioned? Also the car would cost me $7500-8k (Australian), is that a fair price?
Thanks for any help in advance

[Gerta]

OP - first off I'd ask the question who reconditioned the engine and what was done during the reconditioning. If fully reconditioned means a reputable machine shop completely went through that engine and receipts are available, then it is probably ok. I would still have a PPI done if spending $8k.

As far as price, I think that might be a function of your location. A completely stock and in mint condition 318is can fetch $6+k here in the US. Obviously that might be different in Australia. You don't mention condition of the car or provide pictures which would be critical in determining price. 220,000 kms is not necessarily a high mileage vehicle but it certainly shows that the car had some use.

It would be worth taking a hard look at that car in my opinion. Australian guys chime in here ... what have you seen in the marketplace cost wise.

[cello2119]

Thanks for the reply man, you can't really tell from the pictures but the cars paint is faded and would require a closed door respray respray, the engine was completely rebuilt and receipts are provided, I haven't found any rust in the usual places, battery tray, bell towers, rear arches. Interior is in mint condition, no tears, crack free dash. Considering the market and with only 3 318is's for sale in Australia, I feel like 7.5k would be a fair price.

[slowm42]

Thanks for the reply man, you can't really tell from the pictures but the cars paint is faded and would require a closed door respray respray, the engine was completely rebuilt and receipts are provided, I haven't found any rust in the usual places, battery tray, bell towers, rear arches. Interior is in mint condition, no tears, crack free dash. Considering the market and with only 3 318is's for sale in Australia, I feel like 7.5k would be a fair price.
[ATTACH]97007[/ATTACH]

hopefully the engine refresh included timing chain / camshaft sprocket / idler sprocket and related components.

this could also still be an issue: http://www.m42club.com/forum/index.php?topic=594.0

[econti]

decent price if it's in good condition and they are legit BBS wheels

[Gerta]

OP - If you haven't had an M42 or are unfamiliar with BMW's in general, I would suggest that you take a look through R3V's M42 section and hit up m42club.com. LOTS of good information. Furthermore "The Pope of the 318is" (Brandon Purcell) has a site and I believe he is an Aussie as well. Even cars that are well maintained may need to have the oil pan bolts retourqued, etc ... Looks like a stellar purchase!

[cello2119]

So turns out the cars heater core is disconnected, most likely due to it leaking, and the steering rack will need reconditioning. And the engine rebuild wasn't a complete rebuild, it was everything but pistons and crankshaft. I'm starting think that even 7k is a bit to much for a car that'll need 3-4k of work to be a reliable, good looking daily.

[Gerta]

Ask the owner for $4.5k ... he might jump at what would be reasonable offer given the maintenance needs.

[Uber E30]

You're basing the price off USD and the US market. Keep in mind that 7500 AUD is sub 6k USD and the limited amount of e30s in Australia, I say its a decent price considering. Its pretty rare for the bottom end to go bad unless the car gets starved for oil, so I personally wouldn't sweat old rings/bearings.

In terms of the heater core its a $150 dollar fix and about 2 hours of your time. Rack leak is common, and a quick fix too. A lot of e30 owners upgrade to a quicker e36 rack anyway and they can be readily found for $150ish also.

[econti]

See if he'll take 6