There are several things to watch for. I would avoid anything without a full history and excellent service records. I would also lean towards a CPO or aftermarket warranty.
Some things to check:
Loosing pixel display in temperature, mileage display.
Catalytic converters failing
Power steering hoses leaking
Cup holders failing
Nikasil engine block problems in 95 V8
Oil pump bolts backing out, generally pre 99 years
Radiator failures. Plastic neck breaking, all years
A/C stepper motors failing.
Original Water pumps with plastic impellers failing
Coolant thermostat failing
Poor quality jack
Electric cooling fan failing in year 98 and newer
Sunroof wind noise
CD player skipping in models older than 97
Older A/C temperature displays failing
Phones not being upgradeable without major cost or modifications
A/C drain lines need re-routing to stop gurgling sound
Summary of model years:
1996
New 4.4 liter engine. Horsepower remained the same but torque went up from 295@4500 rpm to 310@3900 rpm. Standard steel sunroof changed, glass moonroof instead.
1997
Side impact airbags standard for front seat passengers. Navigation system became available but fitted into few cars.
1998
DSC became standard. HPS head airbags also standard and rear-seat side airbags optional. Navigation system more available. New AC control panel as well (although this was retrofitted to many pre-98 cars).
1999
Mild face-lift with scalloped headlights, crystalized taillamps, door scoop illumination, and chrome strip on the trunk. The 4.4 liter engine receives VANOS variable valve timing and torque rises from 310 to 324. Updated side skirts without the round hole plugs for the jack. Sport package consisting of 18-inch rims, blackout trim, lower gear ratio, and vavona redwood interior trim became available on the 740i.
2000
Features as standard that were options before. Xenon lights, rain sensing wipers, headlight washer nozzles, Navigation, DSP stereo with cassette in the dash and 6 disk changer in the trunk. Sport package became available on 740iL/750iL models, sans the lower gearing.
2001
For the last year, they added body colored side skirts, and front and rear air dams (all were black until 2001) and crystal clear turn signals. Features as standard that were options before, Star tac phone with mayday system, 16 way comfort seats, side airbags with head protection skirts. Mid year (9/00 production and later) they changed to a wide navigation screen.
Very important, if you are considering a 1995 V8, please see this link for the Nikasil Issue (Koala Motorsport)
Some things to check:
Loosing pixel display in temperature, mileage display.
Catalytic converters failing
Power steering hoses leaking
Cup holders failing
Nikasil engine block problems in 95 V8
Oil pump bolts backing out, generally pre 99 years
Radiator failures. Plastic neck breaking, all years
A/C stepper motors failing.
Original Water pumps with plastic impellers failing
Coolant thermostat failing
Poor quality jack
Electric cooling fan failing in year 98 and newer
Sunroof wind noise
CD player skipping in models older than 97
Older A/C temperature displays failing
Phones not being upgradeable without major cost or modifications
A/C drain lines need re-routing to stop gurgling sound
Summary of model years:
1996
New 4.4 liter engine. Horsepower remained the same but torque went up from 295@4500 rpm to 310@3900 rpm. Standard steel sunroof changed, glass moonroof instead.
1997
Side impact airbags standard for front seat passengers. Navigation system became available but fitted into few cars.
1998
DSC became standard. HPS head airbags also standard and rear-seat side airbags optional. Navigation system more available. New AC control panel as well (although this was retrofitted to many pre-98 cars).
1999
Mild face-lift with scalloped headlights, crystalized taillamps, door scoop illumination, and chrome strip on the trunk. The 4.4 liter engine receives VANOS variable valve timing and torque rises from 310 to 324. Updated side skirts without the round hole plugs for the jack. Sport package consisting of 18-inch rims, blackout trim, lower gear ratio, and vavona redwood interior trim became available on the 740i.
2000
Features as standard that were options before. Xenon lights, rain sensing wipers, headlight washer nozzles, Navigation, DSP stereo with cassette in the dash and 6 disk changer in the trunk. Sport package became available on 740iL/750iL models, sans the lower gearing.
2001
For the last year, they added body colored side skirts, and front and rear air dams (all were black until 2001) and crystal clear turn signals. Features as standard that were options before, Star tac phone with mayday system, 16 way comfort seats, side airbags with head protection skirts. Mid year (9/00 production and later) they changed to a wide navigation screen.
Very important, if you are considering a 1995 V8, please see this link for the Nikasil Issue (Koala Motorsport)