1975 BMW 1502

This 1502 is being sold by Dominic, whose name may be familiar to regular browsers of The Market. It was Dom’s sweet 1602 that we sold on here recently for £10,000. The good news is that this 1502 is nicer than that 1602, but that doesn’t necessarily mean it’s going to cost the next owner a hefty five-figure sum. The lower estimate on this 1502 is just £8k, very low for a solid 02.

There’s next to no paperwork with the car, but the V5 confirms the blue paint is correct and the 3810015 chassis and engine numbers suggest that it was the 15th car off the 1502 line. It is on the Govt MOT website as a BMW 1500, and registered as per the pics as LTT 681P. The new owner will get the UK registration doc and a virtual slap on the back from Dom who assures us that he would hop into this car today and drive it to Le Continent without a care in the world.

That would be a relaxing experience. 1502s are not quick cars. You get a clock instead of a rev counter, and the odd reverse-slope of the front end is never going to be an aerodynamic issue. But if your idea of a perfect classic is one with an understressed engine capable of delivering good cruising mpg figures all day long and as few things as possible to go wrong, a 1502 – and this one in particular – could be right up your strasse.

Sitting on bright and clean Alpina-style alloys with the BMW roundel wheel centres all in place, this blue 1502 presents really well. Move in more closely and you’ll see it’s not perfect. Although it looks good, on the nearside, there is some evidence of filler in the door and front wing bottoms and although the general paint finish is good, there are issues here and there, for example some overspray around one headlamp and one or two paint runs, but overall and certainly by normal 02 standards this one does appear to be very much better than average.

At the back there’s a small dent in the boot lid, near the BMW badge, and a bit of staining below the fuel cap, but you could almost pass off the ‘rays of sunlight’ petrol spillage pattern as artwork to your more gullible mates. Show them the aftermarket spotlights and perhaps you’ll get them thinking that you’ve lucked into a 2002.   

The glass rubbers are fresh, although there is a spilt in the nearside top section of the windscreen rubber. The brightwork, body pillars and scuttle all look good.

Much of the hidden paintwork (e.g. inside the doors, under the boot lid and bonnet) is also reasonable with only relatively minor blemishes.

We’d describe the condition of the cabin as generally good. 

On the positive side, the headlining is tight and clean with just a little staining above the passenger door, and the seat cloth appears to be untorn. Although the driver’s heel mat has seen better days, the carpets are intact. It’s what we’d call a great weekend titivator: just load yourself up with proprietary paints and cleaning products and set to at your leisure to make a really good impression.

According to Dom everything (including the CD sound system) works. On the negative side there is a crack on the dash top and signs of use here and there across the dashboard. But a passing glance through the window and you’d think ‘oh aye, that’s all right’.

There’s no information pertaining to the 5500 mileage displayed on the speedo, other than to say that the overall condition of the car, although good, suggests it’s unlikely to be correct. A leather-wrapped Jaymic steering wheel nicely compliments the Sixties tone set by the classic BMW 02 unpolished wood instrument surround. The wheel isn’t shop-fresh by any means, but a drill polish, some leather food and maybe a new set of retaining screws (one is missing) would spruce it up nicely without trading off any of the period patina.

Again, you’d describe the underbonnet area as good rather than excellent. The bay structure itself and the wing tops look clean and straight, and there are no obvious signs of any oil leaks or other wetness from this angle. These cars didn't have power steering – they really didn’t need it. 

The aircleaner is original and sound and would doubtless respond well to a quick rattlecan respray, while the Bauhaus valve cover looks like it’s just been taken straight off the parts shelf. If we were taking over ownership of the car we’d probably be sourcing something other than bungee cords as a means of securing the battery.

The spare wheel (which looks like an original steelie) has an ATS budget Road Champ tyre on it which we would be inclined to donate to a kart track for lashing to the nearest bit of Armco. Thankfully, the car’s running tyres are meaty Dunlop SP9s. The well in which the spare sits and the main steel sections of the boot – a vulnerable area on these cars – do not seem to have succumbed to anything worse than spots of surface corrosion. The suspension strut tops are blemish-free.

Going right under the car, there’s some evidence of very slight oil seepage in the bellhousing and diff areas, but the important metal bits seem to be remarkably solid. Dom thinks the car has been undersealed by a previous owner.

The drive is fine, gearbox, engine, clutch and brakes appear to be all functioning well, but the we suggest it hasn't seen many recent miles and a small degree of recommissioning may be required.

Sometimes age is a good thing, as anyone old enough to have heard the golden words of ‘no charge’ issuing forth from the lips of the Boots pharmacist will testify, especially if they made the trip to the chemists using a free bus pass. Same goes for cars. A 44-year-old BMW doesn’t need an MOT, but Dom is fully confident that it would stroll through the test without any special preparation.

It seems hard to believe now, but there really was life before the BMW 3 Series. If you went back in time to the mid 1960s and asked the typical Cortina driver what a ‘compact executive’ was, they’d probably refer you to their bank manager. Aspiration was something you did to stay alive. It wasn’t a motoring state of mind. 

BMW 02s were historically significant because they were among the first cars to show that you didn’t have to be loaded to get a quality car. The 1502 is even more interesting today, not just because fuel concerns are as pressing than ever, but also because the political conditions that drove the 1502’s simple, lightweight design in 1975 have made it a fun car to drive in 2019. 

The interest in 02s has been steadily growing over recent years, while the supply has been steadily dwindling. You don’t need a PhD in economics to know what that means for values. Perfect 02s are big money these days. This 02 is not perfect, but nor is it big money: it could go for as little as £8k, but is set with "No Reserve". The presence of world-class 02 specialists like Jaymic in Norwich, Wallothnesch and Schmiedmann in Germany or Mecatechnic in France means that the next owner can take the process of restoration forward at their own speed. It’s fair to assume that, barring unforeseen disasters, any investment in this car will be more than repaid when the time comes to move it on.

We always encourage viewings. This BMW is located here at The Market HQ in Abingdon. Just click the ‘Contact Seller’ button at the top of the listing to arrange an appointment. Ahead of that, or at any time during the process, you’re more than welcome to ask any questions or jot down observations in the comments section below. You won’t be shocked to hear that our ‘Frequently Asked Questions’ section will answer general questions that are frequently asked about how The Market works.

Also please note that we have a network of trusted suppliers with whom we work regularly and successfully: Classic & Sportscar Finance for purchase-financing, Thames Valley Car Storage for storing your car, AnyVan for transporting it, and Footman James for classic car insurance.

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