Okay, now that the weather is getting a little better, I need to make a decision.
I've got a 96 328i as a daily driver with 175k on the odo. PO did very little maintenance. I thought I was getting a good deal, but I got screwed instead.
It's got quite the laundry list of things that need to be fixed including:
clutch/flywheel makes nasty metal on metal sound when cold
rear brakes
tie rods? has vibration when sweeping left
parking brake seems disconnected
2 door locks frozen, won't lock
driver's A-pillar trim fell off
A/C
steering wheel cover is torn
bent wheels
shot bushings
It's been in the shop 3x in 1 year already.
I like that it's RWD, manual and somewhat fun to drive. The lowering springs that the PO put on there seem like crap (lots of body roll), but he got Bilsteins to go with it.
I don't like the mileage (21-22 mpg in mixed driving), reliability thus far, and it was difficult to plow through 4 inches of snow. (Managed to make it through without getting stuck, somehow.) It could also be easier on insurance, too. (Though I'm almost at the big 30th, so that should help on insurance anyway.)
I could afford to fix it up, or I could sell it and get something else. If I were to sell it, I could buy something with about $5-6k budget. I think fixing it up would wind up costing me $3k on its own. I don't have lots of mechanical ability, so most of the fixing would be done by a shop.
I think its current state of disrepair (particularly the clutch and the locks) would ruin its resale value.
I'd be happy with M3 springs, new bushings/fix vibration, clutch fixed ($1k+) and brakes fixed.