Deciding to restore a vehicle takes careful planning to ensure you don’t get in over your head. Most of us don’t want to restore a vehicle that isn’t worth at least what we’ve put into it from a dollars and cents standpoint, so the goal of breaking even is fairly important. If you do decide to take a car like this 1983 BMW 320is down the path of total refurbishment, hopefully, there’s an expectation of being able to recoup your investment when it comes time to sell. The seller claims it has undergone a glass-out respray, and it’s now listed here on craigslist for $20,000.

A few years ago, the E21 3-Series got white hot and began selling for surprisingly strong money. The sport package-equipped cars, which left the factory with Recaro sport seats, a limited slip differential, and a sport steering wheel were the primary beneficiaries of this pandemic-era rise in value. This was after years of stagnation due to being sandwiched between the iconic BMW 2002 and the eminently usable E30 chassis 3-Series that debuted in the late 80s. The E21 shown here has been modified in addition to being restored, as it now sits on a lowered suspension with aftermarket wheels. Surprisingly, the seller chose to retain the U.S.-spec bumpers.

Usually, when these 3-Series are taken down to bare metal, the seller chooses to swap out the bumpers for the more attractive European-market assemblies, but this owner kept the U.S. look. The restoration work is extensive, including all new seals and weather stripping as part of the paint job, which the seller claims was a $25,000 job a few years ago. The factory Recaro seats have been reupholstered and look terrific, and the stock 3-spoke wheel is in excellent shape. The dashboard appears to be uncracked, which is another vulnerability in BMWs of this vintage.

Mechanically, it sports the standard 2.0L inline-four cylinder engine, which has been upgraded as well. The M10 was a bit of a let-down when the E21 debuted, especially since the European market cars could be ordered with two different inline-six engines (a smaller carbureted engine and a larger motor with fuel injection.) The seller has added a Magnaflow exhaust with ceramic coated Stahl header along with various suspension tweaks. This is truly a labor of love, and seeing as the asking price doesn’t even match the supposed cost of the paint job, clearly one that wasn’t worried about a positive return. Thanks to Barn Finds reader Barney for the tip.