Hello,

Last year, my beautiful 1-owner 150K 740 turbo wagon was totalled by a drunk driver who ran a stop sign, and I had to replace the car in a bit of a hurry. Luckily the insurance co. payed me the full value of the car - $5500, but I need a car to get to work so couldn't shop around easily!

I ended up buying a 1994 850 wagon, in nice-looking condition but 193k miles on it at the time (now 196k). The seller had onl had it a short time and I believe her that she was selling it due to moving to MA (I helped her move her stuff out of her apartment!) so I think she was truthful that she didn't know that it had any problems. It has all the options plus rook rack and accssories, CD changer etc etc. I paid $7000 for it, figuring I had a steal.

The history of the car is foggy, several owners and it was a Massachusetts car. Since buying it last May I've sunk a significant amount of money into it and it still needs work.

So far I have had done:
- front stabilizer bar replaced
- LF wheel bearing replaced (broken as result of abive no doubt)
- new front tires (also chewed up due to broken stabilizer)
- brake pads, brake service
(all added up to ~ $900)

And it still needs:
- replace leaking valve cover gasket
- possible leaking main seal, replace timing belt while at it 'cause no record of it having been done
(right now I just check the oil every week, add about a quart every week or two)
- A/C leaks slow, probably won't bother fixing
- needs coolant flush
- undetermined possible problem with transmission? This always happens in the morning when car is cold: sometimes it doesn't shift or locks out first gear (can't tell myself what is going on) -it over-revs when gas pedal is pressed, no power slow accelaeration. The car is auto with "tracs" and winter shift options. No warning lights come on. Occassionally (3-4 times since I got the car) the arrow that indicates 3rd gear/tracs or winter system on dash has been flashing and goes away after a few hours, but that doesn't happen at the same time as the physical shift problem. I am hoping that a trans fliud and filter change will help, perhaps some sludge is accumulating when car sits? I have read that if the fluid has never been changed at high milage it should be left alone -n is that true and if so why? Also possibly related - checked the trans fluid as according to the owner's manual and it looked bright pink not dark, but it was quite a bit above the "hot" line - I have not touched the fluid since buying the car.

So the quesiton is should I invest another $500 to $1000 in fixing this car up, can I count on it giving me another few years of reliable service, or should I sell it and get a cheaper, older 740 model like I used to have? Recently I saw an ad for an '85 740 GLE wagon, 190K miles 1-owner all records etc for $2000. I could sell the car I have for $5000-$6000 I think, pay off my bank loan owing on it, and buy the $2000 car outright - maybe even talk them down to $1500. Even if it needs repairs I'd still be ahead - except that the resale value would be so much lower and it's not quite as pretty. The car I have is very good looking and drives nice, but the burning oil smell has got to go :(

How does the reliability of the older 740 models and the 94 850 car compare - any stories to share?

Thanks for any advice or help!

-Tina