PakiBeamer

Cheers people, hope everyone is doing great. Well this is going to be interesting. I purchased 2006 BMW 550i SMG M-SPORT from an insurance auction. The car was auctioned in Iowa and towed to Milwaukee to my friend's dealership. When I picked up the car, the battery was dead. It started after a lot of struggle with the jump starter. It was VERY rough and shook a lot when it started. She had no gas whatsoever, so I put gas in her and after couple minutes she was fine. After settling in, she drove like a champ. No engine codes, no leaks, no noises, smooth shifting. The car had been sitting at the auction since November 2013, she has 78k miles. So I have few questions:-

1) What fluids change and other maintenance stuff should I do since the car has been sitting for almost 2 years?

2) Took my car in to Chrysler Dealership next to my house for an estimate and their repair list included active cruise control. When I told them I don't think I have it, I was told their computer generated the options list and they also see some extra wiring in the front. I also gave my Vin to BMW and they told me no ACC but yes to comfort access. And I also don't have the distance adjustment wheel next to my headlight button. What do you guys think?

3) Since damage requires engine removal, is there room for custom 3 inch cold air intake?

4) Any upgrades I can do since I will have the engine out?

Thanks for all your help, I know it's a lot of questions.

rkilpa

Not to rain on your parade, but I would like to know the benefit of your endeavor.

I am assuming that if you bought it at an insurance auction that the car was owned by the insurance company, which means they purchased the car from the owner due to a total loss settlement.

If the insurance company declared the car a total loss, it is because the cost of rebuilding the car exceeded the value of a non-wrecked car. Granted, that would be based on a reputable body shop parts and labor estimate, but even if you are a shop owner it will be very expensive to repair that front end.

I know you "stole" the car at the auction, but you will need to put so much money into the car to make it "like new" that the total expenditure would probably exceed what you could have purchased a non-wrecked car for. No matter how good the repairs, it will never look or drive as good as a non-wrecked car. The worst part is that after all is said and done, you will have a car with a branded title that is worth about half of what a non-wrecked car is worth to anyone in the know.

Personally, I would not put a penny into the car. Part it out to recoup your investment and find a car that is pristine.

Unless of course, you just like to rebuild cars for the personal satisfaction of a job well done and aren't concerned about losing money. If so, in the words of Roseanne Rosannadanna: "nevermind"

JayArras

+1 on that!

KyleB

I hope you got that car for an absolute steal and that you're familiar with E60 repair methods. That car likely needs a RF apron/rail assembly, probably the left side too.

post the last 7 characters of the VIN, I'll tell you if your car has ACC or not.

PakiBeamer

Thanks for the input guys, I understand your concerns and I knew I would get these questions. But people need to stop believing everything they read on internet. I have been doing this for years and so have millions of other people around the world. There is nothing wrong with damaged depending on what kind of damage it sustained. Obviously I don't need people's opinion about wasted money, it's my money and I have no problem driving around a previously damaged vehicle. And when I'm done with it, you will not be able to tell it was ever in an accident. Secondly I couldn't care less if the car had salvage title as long as it drives good.
And the reason they salvage cars is because the dealers charge outlandish amount. They quoted me $17000 in parts that I can get for $4000 in my own. I have my own mechanic, body shop guys that charge me pennies on a dollar. I have been doing this and making couple thousand dollars on each car for many years. This is my personal car so I don't care if it cost me a little extra.

So please someone tell me what kind of maintenance should I do since it's been sitting for couple years? Any upgrades that can be done since engine will be out. The Vin is CN93056.
Thanks everybody for your help, I really appreciate it.
I also bought this for my brother for $6k. Blue book is over 22k.

InsipidMonkey

Here's the option list from bmwvin.com. You're right, it has CA but not active cruise control.

Vehicle information
VIN long WBANB53576CN93056
Type code NB53
Type 550I (USA)
Dev. series E60 ()
Line 5
Body type LIM
Steering LL
Door count 4
Engine N62/TU
Cubical capacity 4.80
Power 270
Transmision HECK
Gearbox MECH
Colour TITANGRAU II METALLIC (A36)
Upholstery LEDER DAKOTA/SCHWARZ (LCSW)
Prod. date 2005-10-06

Order options
No. Description
206 SEQUENTIAL MANUAL TRANSMISSION
217 ACTIVE STEERING
226 SPORTS SUSPENSION SETTINGS
229 DYNAMIC DRIVE
248 STEERING WHEEL HEATING
300 EMERGENCY WHEEL
319 INTEGRATED UNIVERSAL REMOTE CONTROL
322 COMFORT ACCESS SYSTEM
339 SATIN CHROME
403 GLAS ROOF, ELECTRIC
430 INT/EXT RR VW MIRROR W AUT ANTI-DAZZLE
431 INTERIOR RR VW MIRROR W AUT ANTI-D
441 SMOKERS PACKAGE
465 THROUGH-LOAD SYSTEM
481 SPORT SEATS F DRIVER/FRONT PASSENGER
488 LUMBAR SUPPORT DRIVER/FRONT PASSENGER
494 SEAT HEATING F DRIVER/FRONT PASSENGER
502 HEADLIGHT WASHER SYSTEM
508 PARK DISTANCE CONTROL (PDC)
522 XENON LIGHT
524 ADAPTIVE HEADLIGHTS
591 LT/ALY WHEELS/STAR SP. 124 RUNFLAT/MIXED
609 NAVIGATION SYSTEM PROFESSIONAL
620 VOICE INPUT SYSTEM
639 COMPLETE PREP. CELLULAR PHONE USA/CDN
655 SATELLITE RADIO
672 CD CHANGER BMW FOR 6 CDS
677 HIFI SYSTEM PROFESSIONAL
697 AREA-CODE 1
775 INDIVIDUAL ROOF-LINING ANTHRACITE
8SP COP CONTROL
818 MAIN BATTERY SWITCH
9AA EXTERNAL SKIN PROTECTION
925 SHIPPING PROTECTION PACKAGE

Series options
No. Description
302 ALARM SYSTEM
354 GREEN STRIPE WINDSCREEN
435 WOOD TRIM
442 CUPHOLDER
459 SEAT ADJUSTM., ELECTR. W. MEMORY
473 ARMREST, FRONT
534 AUTOMATIC AIR CONDITIONING
540 CRUISE CONTROL
563 LIGHTS PACKAGE
645 RADIO CONTROL US
785 WHITE DIRECTION INDICATOR LIGHTS
823 HOT CLIMATE VERSION
845 ACOUSTIC BELT WARNING
850 ADD FUEL TANK FILLING FOR EXPORT
853 LANGUAGE VERSION ENGLISH
876 RADIO FREQUENCY 315 MHZ
992 NUMBER PLATE ATTACHEMENT MANAGEMENT

Kaane

I'd replace all fluids, plugs and any oil leaks, since it will have a few of those. Most likely valve cover gaskets. Water pump might not last long since it sat a long time.

PakiBeamer

Thanks a lot. So far no leaks of any kind. I was going to change timing chain, tensioners, water pump, and a tune up. I wasn't planning on doing valve cover gaskets, does that need to be done even if no leak is visible? Any chance of having enough room in the engine bay for a cold air intake?
Thanks again for all your input. I will start buying parts soon and hopefully start working on it in couple months. I will keep updating the progress.

PakiBeamer

Well the benefit of that is if you buy the right car, you can get the car ready for about half the price of the blue book. Then if you want, you can sell it right away and make some money. Or you can drive the car around for a year or two and then sell it without losing any money. Not all cars that are sold at the insurance auctions are salvaged or heavily damaged. Sometimes you will find cars that just have few scratches but the owner didn't want it fixed but rather get a new car. So insurance companies will sell the car and get whatever money they can for that car.

BuddyB

My 2C,
I would definitely replace the valve cover gasket
BMW's are notorious for leaking at the valve cover gasket.
You will have the engine out of the car so it will be easy and the gasket is inexpensive.
Much easier to do it with an engine out of the car than with it in the car.
This will also let you see what the engine looks like, mechanically and if gunked up or not.
Easier to replace the spark plugs with the covers off as well.

Bud B