I have been a Chevy guy all my left with several classics and hot rods, but recently I inherited a 1974 2002 with 42k original miles and I am trying to figure out what to do with it. It needs some TLC both mechanically and body wise and I am wondering how important it is to retain the originality of the vehicle. With Chevy's, number matching is very important, but is that a concern with BMW? It has an automatic transmision that needs rebuilt, knowing that it is the original transmission, is it important to rebuild or replace. I guess my main question is how important is it to maintain the originality of the vehicle? I was thinking about rebuilding it with the TII option, but maybe not smart. Let me know what you all think. Gary
You, my friend, have a classic. It's a 2002; most would want it to stay original. If you fix 'er up nicely and restore it to perfect running condition, you could either sell it for some big $$$ (a collector would definitely appreciate one in excellent condition, especially low mileage) if you don't want to keep it OR you could see why everyone raves about the 2002 and keep it as a "fun car".
I'd have to agree with Mr. AZ - if you have some time, restore it and see if you like it. If you do, hang on to the thing - if not sell it - you have a nearly captive audience in this CCA! Keep us updated!
Have an independent BMW repair shop "eyeball" its value I suggest you take it down to a local independent BMW repair shop to get an eyeball estimate of value. In the grand scheme of things, its not that long lost '55 corvette that everyone's looking for. Its a great car with huge demand among (we) enthusiasts but is not a hundred thousand dollar matching-numbers find. As a classic Chevy guy, the thing that will take your breath away will be just how fast it goes around corners. They go like stink, but in a totally different way. You might just discover you are unable to part with it. ... if so, welcome to the club!
Brian A summed it up pretty well. Chances are pretty good you'll put more into restoring it than the car will be worth. 2002's are the type of car that most people keep, restore, rebuild and modify to suit their own wants, not for an investment or resale value. Having said that, there have been a few $50K - $60K examples sold but they are exceptionally rare and they are absolutely flawless in every respect (basically a brand new car). In those examples, the numbers are important. To an enthusiast looking for a nice, clean, well maintained or well prepared 2002, the numbers won't mean nearly as much as how well the work was done.
I had a customer with an upgraded (suspension, trans) 2002tii that put over $25k into the restoration, and he can't get $15k for it. Don't waste your time if you don't want to keep it. Auto restoration is seldom profitable, especailly not with high volume cars like the 2002. If it were a turbo, I'd say go original, but if you want to have real fun, make it yours and do whatever you desire.
