Keep Mazda2/build Volvo 960 or buy 2001 BMW 525iT and sell others

I need some opinions. I have a chance to buy a nice condition 01 525IT(automatic) and am considering doing that and selling my 2. Wife says that the Volvo(960 wagon) has to go as well if this happens. I still owe on the 2 so doing this would bring me out of debt. However, I would have to take a little out of savings for the BMW. Not sure what to do. Thoughts? I have wanted an e39 wagon for a while but building a turbo brick seems like more fun/work. The 2 is great but the loan isn't.

BMW. It sounds like a choice ride.

How much will the BMW require in annual upkeep vs how much will Mz2 require in upkeep?

Will you drive enough that the mpg of the Mz2 represents any real savings?

Unknown on the miles. I am working part time with the hopes of getting a full time position in town (very little driving) but could end up commuting up to 70 miles a day.

I own a 2001 525i Sport sedan with 158k miles. Bear in mind that, barring an obsessive previous owner, the BMW is at the age and likely mileage where it will need considerable work to catch up on deferred maintenance. To get the car right, the following will need to have been done: full suspension (struts/shocks, all control arms, sway bar links and bushings, rear subframe mounts on the touring), tie rods, VANOS seals, full CCV system (valve plus all hoses and updated dipstick tube), and full cooling system (water pump, radiator, expansion tank, thermostat, hoses, fan clutch). Until they're done, the car will be mediocre to good and have the potentially for being expensively unreliable (all-aluminum engines do not tolerate overheating well); once they're replaced, the car will be excellent and very reliable.

I was having my doubts about doing this anyway. I am thinking I'll stick with what I have. The maintenance could quickly surpass my loan payments.

I times of tight money, a predictable expense (car payment but really no repairs needed) can often be easier to deal with than an unpredictable expense (large repair bill.)

Yep, that is what I think I have decided myself.