If anybody takes a look around these cars are getting much more expensive and desirable. If the paint is nice and still shiny and doesnt need a repaint i would say its worth $4000. It could have just blown smoke because it had been sitting a long time without being run and the seals dried out a little. I would go back and drive it again and see if it still blows as much smoke. Getting the records for it would be a good idea no matter what. And the cracks in the seats is just old age. Remember its a 14 year old car. I got a car very similar to the one you describe. Except it was an 87 and a 535is. It ran great, handled great with a completely new front and rear suspensions and bilstiens. It had 199k. Didn't smoke or anything. Came with all bills and records plus original window stickers and invoices. The exterior and the interior of the car looked like $hit. After it was detailed it is very presentable. I paid $4000 and think i got a pretty good deal. So if you like this 535i and want it then get it. There might be better deals out there but your getting a great car no matter what. Plus think about how much the upgrades cost(wheels=$800 with tires, spoilers= $400 each) Good luck
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