Since the OP said it was dealer rebuilt I am assuming (till other info says other wise) that it is a theft not a collision. Also since it is a dealer rebuilt I am also assuming that there is some sort of warranty supplied as well.

That aside, I would also be concerned about insurance. Given the investment in the car, most insurance companies will not insure a salvage for collision, only liability. So if you get in an accident, you will have to eat the cost of the repairs to your BMW. Most salvage cars are cheap so not a big deal. I am guessing the BMW is running somewhere in the upper $20's to $30's? That's a lot of car to eat. There may be insurance companies that will insure it but I think I'd be scared of the premiums.

If the BMW is a collision salvage, I'd run like hell.

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