2001 BMW E38 740i – Classified of the Week

7-Series BMWs have always been seen as the conveyance of choice for the, how shall we say, financially independent – those who can afford the luxury of not actually having to concern themselves with the bothersome act of driving but still wanting the status and comfort that a top of the line, executive class German saloon offers. The thing is, these luxo barges have been very affordable for a while now. We should know, we managed to pick up a 735i a few years ago for under £500 to participate in a charity banger rally to Madrid and back. And it didn’t miss a beat. Even at that price though, the inherent quality of the car still shone through and although it needed a bit of fettling to ensure a successful 2,000 mile round trip it remained a comfortable, powerful, mechanically sound car that we regret selling on. But that slightly ratty 735i pales in comparison to the car we have here. This 2001 BMW E38 740i looks to be in excellent overall condition, having only covered a paltry 55,000 miles, which is a drop in the ocean for these smooth BMW V8s.

The E38 is the third incarnation of BMW’s 7-series line of full-size luxury saloons. Manufactured from ’94 to 2001 the E38 retains the classic front-engined, rear wheel-drive setup favoured by the German firm and was offered with a range of engines from petrol and diesel inline-six cylinders, through various V8s of increasing displacements, to the flagship V12, all of which are great power plants in their own right. Three wheelbases were also offered in the form of short (i), long (iL) and Limousine (L7) guises, ensuring that there was an E38 for most tastes. Not only that but the full spec list included all of the toys, bells and indeed whistles you could possibly want.

This particular E38 is of the 740i flavour which means it has a short wheelbase and the 4.0-litre V8 that sits in the middle between the 3.5-litre and the larger 4.4-litre of the three eight-cylinder petrol engines that BMW offered in the range (there was also a 3.9-litre turbo diesel). It’s an automatic, which suits it down to the ground, but the jewel in this Bavarian crown is the incredibly low mileage of just 55,000. It’s patently obvious to see that these are genuine numbers from looking at the pictures and the overall condition of the car. The MOT history on the DVLA web site also corroborates the claim.

The eagle-eyed amongst you will have no doubt clocked the fact that it is an import due to the shape of the number plates and you would be correct. Even though the car is currently on UK soil it arrived here via Japan. That should in no way put you off from potentially owning this gem of a 7-Series, however, as the car is fully UK registered (with just one owner here) and comes with its full Japanese history file. Not only that but the fact that it has lived most of its life in Japan – where they don’t salt the roads – has preserved it and prevented any rust from taking hold. As such, it is in beautiful original condition without any signs of corrosion to speak of, whether that be on the factory Titan Silver bodywork or anywhere else.

With an MOT until October, as well as a full service history that includes the aforementioned Japanese paperwork, this particular 740i apparently wants for nothing, aside from a proud new owner of course. Having just had a major service it’s ready to roll. Chock full of toys the only issue highlighted in the advert is an illuminated airbag light on the dash that the owner suspects is an issue with the seat occupancy sensor. Whatever the case it’s not a huge problem with what is otherwise a perfectly sound and well-maintained BMW.

Prices are on the rise now and people are cottoning on to just how much car you can get for your money as far as these late ’90s/early 2000s luxury BMWs are concerned and while this is on the painful end of ten grand, it still represents a bit of a bargain when you consider these E38s were upwards of £70,000 for a top of the range model when new. Nothing has changed, they’re still fantastic cars, they’ve just fallen out of favour. But the market is waking up, so grab this 740i now and revel in the fact that you have one of the flagship models from a car manufacturer that was at the top of its game.

If you can see a luxury saloon in your future, here’s where to find a BMW E38 for sale.