Thoughts on an '86 325e (long)

["The Caradonna's" <caradonn@xxxxxxxxx>]

I went to look at a '86 325e tonight and I am curious as to your
thoughts on the car.  It is a 5-spd with 120k miles and asking price is
$3000, it is red - a 7 year old re-paint(I would have a hard time
telling it was re-painted - they did a good job) with black leatherette
interior.  The timing belt was replaced at 100k (first time) but the
water pump was not replaced.  The car has not ben drive for a year so
the fuel quality is questionable but the engine idles very rough until
it warms up after that the idle is about what I would expect after
reading some of the FAQ's on the web.  Problems with the car are:  A/C
does not work - the owner seemed suprised so this may be a significant
negotiating point - what are typical failure modes for the A/C system? 
What am I looking at for repairs??  Someone else would have to do the
repairs as I do not have a refrigerant license.  Next, the valve stem
seals leak (smoke on start-up) and the valve cover gasket leaks (I
already asked this question but...) How big is the stem seal replacement
job?  What are the chances that the oil leaks have damaged the gruibo
(drive shaft isolator)? Finally, there are a couple of rust spots, at
the bottom of the drivers side A-pillar and at the pinch seam on the
drivers door (not major - can probably be cleaned up) and there is water
in the trunk - it appears to be leaking around the antenna (the gasket
is missing) the water is clear (not rusty).  

The owner knew about the oil leaks and water leak and his asking price
seems to reflect the recent neglect.  What would be a reasonable offer? 
The owner seemed willing to keep the car if he did not get a good offer
- - I'm not that attached so he can keep it if he will not negotiate.  My
thoughts are to look at a nearly identical car tommarow asking price
$4000 and back calcuate an offer based on this car if it is
significantly better.  

Never having looked seriously at a BMW I was presantly suprized at the
level of quality in this car - it shows less wear than most 50k mile
domestic cars (and I am a big fan of GM products).  

Sorry for the length - thanks for your feedback

Scott

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