From Scion xb to 530I

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derrick530

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#1
Hey,
I'm new here. Im 22 year old guy from the middle of ohio. I have always wanted a BMW. Have always looked at 3 series on car lots and stuff. and always dreamed of having a M5 someday. The other day my job required me to go into a bank. While there I notice 2 cars and a Yamaha R6 in the parking lot with no plates on them. I'm in the market for a new bike and im thinking REPO. I was right. After talking to them about the bike for a while; the banker informs me that the BMW is also a repo and its sealed bid auction was up friday at 5pm. Me being a dumbass. I decide to throw in a low ball bid to see what happens.
So $8,500 later I get my 2001 BMW 530I sport edition. I pick it up on wed. I'm so excited. Now I need to sell my 05 scion XB that is lowered on 20" wheels in dash dvd and some other bolt ons. So I don't have to make 2 payments for too long.
It has every option but navagation and only has one scratch on the rear bumper. It is black with tan interior and has 80,000 miles on it.

As a new BMW owner who has a problem keeping anything I own stock. What kind of things should I be on the lookout for. Any known problems with these 530I's? Any advice? Did I pay too much?

Thanks again
Derrick
 
bmw046series

bmw046series

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Welcome, that must be a world of difference coming from the Boxy Scion to a rwd 4 door car.

The 530i was a very good car, solid and reliable, I don't think you paid to much for it, I do know a 99-2000 540 (big V8) goes for over $15,000. Post pictures if you can.
 
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derrick530

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The scion was a replacement for my durango R/T I've had supercharged mustangs, 430 hp awd turbo talon. Im 22 and the bwm makes car number 26 for me. I will try to get pics when I get it wed. and get it all cleaned up. Im pretty big into the traditional hot rod scene. I'm building a 53 chevy pickup on air ride right now. and a 31 model A 5 window I'm putting on a 32 frame and choped it 4 1/2" Its going to be real funny getting out of my hot rod or old pickup into my bmw :)
 
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derrick530

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i got off my lazy ass and got some pics of it. But some things have come up and Im really in need of selling it or my scion xb. Basically wichever sells first ill keep the other. or sell both and buy a truck.










and guess what just took a crap...the radiator... got a new one on its way already...
 
selavia

selavia

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I'm not an expert; my comments are going on many assumptions.

First, I think you got a great deal, but how great, I'm not sure.

In that pic of the engine, the previous owner installed a short ram with no heat shield. That means the engine in sucking in hot air. You should build or get a box or move the filter behind the fog light, if you intend on keeping it.

If the title is clear, you could easily get $10,000 for it on ebay. Spend the $10 bucks and get a new front symbol. That might help.

Also, did it come with the maintanence record? See if it's been serviced; run a carfax (dealer maintanence is recorded (usually) under carfax.

You could make a chuck on change on a resale of this baby. But if "you've always wanted a BMW," you may want to keep it. Dreams are fun when you attain them.

Good luck, and welcome to the board!
Sean
 
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