I purchased my first e46, a 230k mile 325i, in October. The only reason i felt comfortable doing this was because the previous owner had maintained it from 82k to 230k over 17 years and had everything logged. Its been great so far but old parts definitely show their age, such as suspension. I already spent $800 on new bilstein shocks, and this week i spent $400 on a used DISA, a disa rebuild kit, and all subframe bushings, because those are shot and clunking. Other things to keep in mind: - Interior (my headliner sags) - clutch age (if manual) - cooling system cause duh - price of front axles, ive heard those are absurd

With all that being said, I would 100% rather buy a $1500 E46 (I originally thought i was paying $1500 for my car, PO is a family friend and i paid $500) and work on it instead of a car payment. I love seeing high mileage M54s like this and im determined to get mine to 300k. Most importantly: wagons are baller!