Money pit: yay or nay

[llll1l1ll]

I've had my '88 325is for a year now. I bought it with 190k on the clock (although, it had been stopped; it could be 200+) for 2000 USD. After a year, I have invested ~1300 USD in parts--including tires (Dunlop Sport A2s). Parts being from head gasket sets, to light bulbs. I told my friend this, and he said I'm stuck in a money pit. Anyone else's thoughts?

[KenC]

Over $9k has been 'invested' into my '84 318i.

What kind of condition is the car in now? If it's really nice, then I'd say that you've done a pretty good job.

[808BMW]

Re: Money pit: yay or nay

I've had my '88 325is for a year now. I bought it with 190k on the clock (although, it had been stopped; it could be 200+) for 2000 USD. After a year, I have invested ~1300 USD in parts--including tires (Dunlop Sport A2s). Parts being from head gasket sets, to light bulbs. I told my friend this, and he said I'm stuck in a money pit. Anyone else's thoughts?

So basically you have a $3000 E30 so far.
If it is worth 3g's to you, then it's not a money pit.

[rs4pro3]

I purchased my 88 325is for $500 and by the end of this month and including last month close to $1000 will of gone into the car.

[llll1l1ll]

The seats are kinda torn up, and the body def has some knicks in it. A scratch/chip here and there. Paint is a bit faded. Heckspoiler is all cracked and peeling. Other than that, it runs like a beast, and is a blast to drive! I'd say its still worth 3gs to me.

[Ryan Stewart]

For starters dont include things like light bulbs, tires, oil, or filters into the COST of a vehicle because unless something is really wrong the costs will be the same across the board.

Being said these things come with used car ownership. Take an accounting class and learn Time Value of Money and then go look at the price of new cars, financing, and depriciation and you would be happy to only be spending 3k.

[rs4pro3]

From what I've seen the majority of e30's require the most money thrown at them in the 150k to 200k range. But if they make it past that point they will run forever.
My friend gave up on here car as it was hitting that point in it's life, where it was needing a tune up, fan clutch, coolant flush, and a bunch of other stuff I tried telling her that just to fix the car right now and it will give you many years of serive but she said she wanted to sell it.

[Bill 84 318i]

Ha.

It really comes down to your outlook. I view my car as a hobby/interest, not an investment (it makes spending money much easier). If it were a daily, I'd have trouble putting this much money into it.

If you have a reliable daily 88 325iS for $3300, I wouldn't call it a money pit.

[Wes325]

Only $1300 over a year and that seams drastic?! I can confidently say that I have a money pit but, so many MAJOR things(engine, tranny, radiator, ECU, wiring harness, fuel pump, alternator, motor and tranny mounts, shift linkage) have been replaced that it is reliable again.
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[M-technik-3]

Over $9k has been 'invested' into my '84 318i.

What kind of condition is the car in now? If it's really nice, then I'd say that you've done a pretty good job.

your kidding right? My M50 powered 325is is still under the 8k mark and I have quite a bit of cosmectics too.

[KenC]

Over $9k has been 'invested' into my '84 318i.

What kind of condition is the car in now? If it's really nice, then I'd say that you've done a pretty good job.

your kidding right? My M50 powered 325is is still under the 8k mark and I have quite a bit of cosmectics too.

Thats including a factory rebuilt M10 (before I got into the e30 scene... I'm a moron), and all labor over the past 4 years. The stack of receipts is about an inch thick. I can name very few things under the hood that haven't been replaced.

[Bill 84 318i]

Over $9k has been 'invested' into my '84 318i.

Holy damn. I don't have the most expensive 84 318i. Not losing by too much though...

[matt325is]

I would say keep the car, its not a moneypit.

I have spent +$14750 on my car, including the purchase price, and that doesnt include a LOT of small things.

they can get spendy, but I think they are worth it.. do you?

matt

[Bryson]

Over $9k has been 'invested' into my '84 318i.

What kind of condition is the car in now? If it's really nice, then I'd say that you've done a pretty good job.

your kidding right? My M50 powered 325is is still under the 8k mark and I have quite a bit of cosmectics too.

what Greg said but cut 8k in half, and turn 325is to 318is

[///Mtechnik88]

Maintenance-wise, I'm sitting at around $2500 after 4 years, which is not bad. I have about another several hundred in standard maintenance, then I can get to the modification process (work before play). All my friends, who mostly have newer and/or modded cars, are trying to get me into a new car...but I agree with Ryan regarding the overall cost in a new car, depreciation & financing, especially with APR's steadily increasing. By the time my dad finished paying his 4 year loan on his 53K Lexus, the car was worth 19K. Now, it's worth 9500. His depreciation loss makes my $2500 maintenance cost seem like a blip on the radar. My E30 was paid in full and I enjoy the lack of a 250-450 note per month.
Money pit? Not at all. If you have a good example that puts a smile on your face but needs some TLC, you're in good shape. I am convinced that I will do an engine swap far before a new car, simply because I still get a grin on my face while driving my 325is, even after 4 years. It's the fun factor, plain and simple. That's more than I could say for my now sold RX-7, which was lightning quick but got old real fast. Fun factor is far more important to me than the temporary flash of a new car. Invest in your E30 wisely, and have fun doing it!