Faults:

The only thing that I have to blame on the car is the little knob at the end of the wire that connects the gas pedal to the engine (if pulled, the car accelerates) which came loose, but a bit of epoxy took care of that.

Pilot brand headlight bulbs are useless in this car, they can't handle something the car does and burn out within two weeks - Phillips seem to work perfectly fine.

General Comments:

The BMW 740iA is a full-size luxury sedan with sports car performance. If switched into sports mode, I can outrun a lot of cars that I wouldn't think I could take on.

The interior is in BMW-typical high quality, fine leather and wood trim. In the case of my car, black inside, black outside. The paint is, unlike the Cadillac's I had owned before, very tough and doesn't chip easily at all. Also, there seem to be no spots where the 740iA is notorious to rust at (not the typical bottom of the door or such).

I feel bad mentioning this because people in the position to acquire a BMW shouldn't have to be concerned about fuel expenses. However, whoever chooses the BMW 740iA is in for a surprise - I easily get 30 miles to the gallon highway and about 18-20 city.

Overall, if you're looking for luxury, style, performance and reliability merged together into one car, this one would be it.

I'd recommend dealer maintenance only since it isn't significantly more expensive than independent shops, but the mechanics are specially trained to work on BMWs.

Faults:

Leaky petrol tank - common problem for those in the know apparently - IL has special 100 liter tank!

Suspension bushes.

Bonnet cable.

Electronic niggles.

Phone died - repair would cost more than the actual car!!

Consistent power steering fluid leak.

Catalysts.

General Comments:

Getting on in age and has a deteriorating image.

It is so nice to drive though! Although I've been beaten in overtaking by a Nova banger because the damn auto gear box change.

This is a car for those who love it, otherwise it's soo expensive to run.

Faults:

Lots of maintenance needed done when I purchased:

Water pump - about $100 new from FCP Groton.

Intake gaskets.

OSV.

Control arms/drag link/tie rods: fairly cheap from FCP Groton.

1 coil pack only $23 from FCP Groton.

O2 sensors - 4 about $63 a piece from AutohausAZ.

Trans fluid/filter expensive cost me about $150 to change myself. BMW filter/gasket, fluid from World Impex - VW fluid, BMW fluid will cost about 30 bucks a quart, and 8-10 will be required.

Plugs.

Pixels bad in instrument cluster.

Cup holders/ashtray lid broken like almost all BMW's.

General Comments:

Very smooth engine, and only idles around 300-400rpm.

Doesn't leak or burn any fluids.

Good mileage for a V8: 22.6 average.

Built like a tank, hit a deer at 65mph and never hit the brakes, sheet metal damage only, still driving it.

Great support from e38.org.

Fairly easy to work on.

Engine has a timing chain, so no worries about a belt breaking.

Handles and stops great, especially for a huge 4700lb car.

Even though it's 12 years old, the car still stands out, mainly because of its size. People with new cars will still think you have more money than they do, even though you may only have $4-6k in the BMW.