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The mileage is very reasonable. Even on the low end of the scale, figuring a 15 yr old car. The price is a bit high. Depends I guess on what service the car will need to bring it up to top reliable condition.
Service items to find out about:
1) Timing belt. Not as critical as on your 16V car, but still an important service. Due every 50K, so was it done at 150K or not?
2) Brakes. A lot of people neglect brakes on a car they're selling. 740 front rotors can be a bit pricy though the work is not hard usually.
3) Cooling system- water pump, radiator, hoses new or in excellent shape? If servicing this system, plan on replacing the heater control valve as a preventive item as well. Not terribly expensive but very important to the health of the car.
4) Tuneup and flame trap service: flame traps are often overlooked and cause the engines to spring oil leaks. Distributor caps are almost $50 for a 740, as you probably know. So when was it last done? Spark plugs, cap, rotor need to be changed every 25K. Flame trap and throttle body cleaning at least that often, probably more like 10K would be ideal. Easy jobs, cheap parts except the cap and wires. Address any minor leaks as well: valve cover gasket, oil cap, vacuum lines etc.
5) Front suspension- cone bushings need to be done on every 740. Check and replacement of all tie rod ends, ball joints, sway bar links, rack boots, etc.
6) Engine and trans mounts, driveshaft center bearing, trans tailshaft seal, shifter bushings. All need to be inspected and replaced most likely. Exhaust system condition?
7) Turbo specific stuff- does it blow blue or black smoke, at startup or on the highway? Are all the big rubber hoses under the hood in good shape? Some are quite pricy. Are there oil leaks from the turbo, the oil return lines, the oil filter extension? Were oil changes done religiously? That's important for a Turbo. Blue smoke from the exhaust could indicate a turbo on its way out- that'll cost $1000 or so to have fixed. The 90-up cars seem to have much more reliable turbos, so hopefully no worries here.
In short, get this car down to a local mechanic before buying. Have it up on a lift and inspect these items. If the car's services (all those items listed above) are up to date, then it's worth the price, or close to it. If various things are needed, then subtract them right off the price and see what you come up with. I'm thinking it's more of a $1700-1800 car if its clean, straight and nice. I figure about half the stuff on the list will need to be addressed if the car is in typical condition.
As a reference, a co-worker just bought an absolutely outstanding 91 non-turbo sedan and brought it to me to have it checked out. It has a complete, excellent service history and it was bought from the dealership I worked at, after I left. It now has 301K miles but drives like a much younger car. He paid $1000. I feel that car was worth it due to the condition and the maintenance history. If this car is that nice with half the miles, it's worth that much more money.
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Rob Bareiss, New London CT ::: 92 244-M47-207K ::: 90 745GL-M47-268K ::: 88 245DL-AW70-230K ::: 88 244 SOLD! 87 244 SOLD! Still looking for a bright red or black 244 with sunroof...
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