Hi, I bought an old E36 last Nov. The price I pay, you won't like to know. I paid $4.5 K above paper value and subsequently also paid the COE Jan this year. This dealer happen to ferry me in his car to see a 3rd when I didn't like the 2 he first shown me, hence I pester him for 2 months to sell me his.
Although register in 94, it was a 93 model still using the trusty M40 engine. I have changed some of the followings after taking ownership:
1. Radiator
2. Timing belt, water pump, pulleys, clutch fan.
3. Front & rear brakes including disk rotors, tyres to 225/50/R17
4. Fuel regulators, tyres.
I also have the followings done up
5. Compression test
6. Suspension & wheel alignment
7. Polish & grooming (no painting)
8. Angel Eyes
Plus a few minor mods and boy am I broke. There will be still more to go but I haven't regreted one moment of it. It's not about price, re-sale value that I chose that bimmer, it's infatuation I think.
After the E34(company car) & E30, it's hard to switch although I am only of average income. So do some thorough thinking before you buy, they don't call it the ultimate driving machine for nothing. Also there's no glamore in owning an old E36, for me, it's the addiction.
If you are not too technical, it's always good to let a reputable workshop experience with E36 bimmer help check out the car. I'm merely relating my E36 ownership experience, there are many other bimmer owner and I'm sure you'll be receiving more advise and comments,
Welcome to the club.
Jawzsg