91 318iC - What do to now?

[rob_e30]

So I picked up a well maintained 91 318i convertible a few weeks ago.  It had just had a major service, but the shop failed to replace the timing chain tensioner (which failed and allowed the chain to slip).  I had expected my 15 year old son to help with the repair so he could earn his way into the car, but it was not the priority I thought it should be so I did all the work by myself.  I did a valve job, replaced all the timing components as well as all the ICV and intake plumbing and last night took the car for a ride.  

It's a very clean black convertible that could use a new back window... It's got a tan sport (vinyl) interior with the original stereo, and 14" weaves with the center caps.  Everything works including the onboard computer with outside temperature gauge.  Clean title and SMOG test in mid-February.  It has a few dings and the front fender could use some work (or to be swapped), but other than that it's a great car.  It's had new control arms and I'm confident it will be a very reliable ride given the work that has been done and that I just did.

Now my challenge... do I:

Keep the car as a project and get it to pristine shape with a lot of upgrades?  Although it may look great, I'm not sure it will ever be the kind of ride that I would relish.  My last "fun" car was a '99 M3 Convertible and that was 5-6 years ago.

Sell it to fund more racing projects?

Flip it for something I will enjoy more?

Let my son find other ways to earn his way into the car as he'll need something to learn on a drive within 6 months?

Thoughts?

[gearheadE30]

I wouldn't necessarily put your son in a car like that as his first car. That sentiment probably comes from that car being fairly rare with the M42 and all, and it will probably get torn up. For a 318ic, I'd do basic maintenance and some minor mods, but being a vert, I wouldn't do too much to it. As for flipping it, it depends on how much you like the car. The longer you have it the harder it will be to sell, or at least it would be for me.

[Fast Frankie]

I'd give it to my son.

[vonkamp]

Sounds like a good father/son project to me. I would hang on to it, just over 4000 of these cars were ever imported to the US.

[Isamemon]

I too have a  black 91 318ic 5 sped lsd basket weaves
I bought it as a basket case, it was a high school kids car
and it was trashed, but straight and complete
I agree with others, not for his first car
get him a old solid safe 240 volvo
or a 318 sedan
or a ricer

I'd keep the car, now that mine is on the road, I absolutely love it
best classic "sports car" I have owned (triumpshs,jags,healeys,914,lotus) of cours those are old stuff and old school now, but so am I

[woofster]

Why don't you ask your son if he'd be interested in working on the car? In good shape, it is still a very nice-looking vehicle on today's roads. It is also a convertible, which adds some points in the coolness category when you're a teenager hanging out with your friends. The car isn't extremely difficult to work on and doesn't have excessive power which can get him into too much trouble too quickly.

[xwill112x]

drive it like you stole it, and enjoy it for what it is

or give it to him, your son being a teen, im sure he will