What do you think about this car?
 

Its a 1987 BMW e28 535is. Its got 174,000 miles but the engine runs great, its really tight and sticks to the road great, ive driven it . Its a 5 speed with Ricaro leather seats (fully electric) The body has rust under the rear window vizably about the size of your finger nail and then a larger area on the rear fender. The shocks in the back arent the same brand and im not sure about size or anything else, it doesnt lean but you can feel it when you drive it a little harder. Should that be fixed immediatley or is that ok? It has a 2 year old paint job that isnt a great paint job but it matches the original and is all around. The AC Condinser is leaking but he siad he could have it fixed for me for around 250 dollars. Hes asking 3700 but i was thinking of offering around 3000 is that still to high? I would like to know what you think.
Thanks,
Patrick

I would talk him lower than $3K depending on the body condition and how the underside looks and other stuff. You need to have it checked by a mechanic and get his opinion. it would be easier if you had some pics. Good luck.

the paint is 2 years old but there is some rust? weird.

also, the shocks being different. . . i would pass on it, seems like it wasnt maintained well enough. for me anyway. . .

tell the guy you found a cleaner one for 3 grand and offer him 2500 take it or leave it.

I'd pass. new paint, rust in the fender and (even worse) below the window? wrong shocks, condensor leaking?

All you are buying is the drivetrain, as the shell will probably wind up needing several thousands in metal work, bodywork, and paint. Water has infiltrated the shell because off poor care/debris accumulation, and probably crapped out windowgaskets.
Rusty cars IMO are rarely worth fixing unless they are rare.

those cars i think have a problem(well not really) but the m20 requires you to change the timing belt every i think 80K or 100K, its probably due, and you really dont want to be driving it and be FORCED to change it when it breaks because when it goes, it takes a lot of other things with it :(

^^^ its every 60k miles, and its not that big of a PITA.

dont let it get passed 60k and you will be fine. but if it does go, your pretty much screwed.

and xsperf its not a problem, you will probably replace the headliner or radiator in your E36 more than the belt.:throwrock

I wouldn't buy it, even for 2k

There are less and less 535IS's available but I would have to agree that unless you are prepared to do the body work it is not worth $3500. If you can get it for $1800-1500 then do it. Use the money you save for body repair. I own a 87 535IS and I would recommend checking compession, shock towers, brakes and exhaust. Also, see what tires/wheels have replaced the original metrics. Hope this helps.