Soliciting Opinions on a 92 525it Wagon
 

Background:
A few days ago, I came across someone locally who is selling their '92 525it wagon (5 speed auto) with 155k miles for a pretty great price and am seriously thinking of purchasing.

The car seems to be in pretty good condition. The owner said it drives well and there are no drivetrain issues. Other than the fact that the exhaust needs to be attached, there are no other mechanical issues with the car. I do have a list of all of the little things wrong, but they are bacisally superficial items (other than the exhaust).


Question:
Knowing basically nothing about BMW's, I would like to know your opinions/experiences with maintaining one of these. It is a 24 year old car, after all, so I am fully expecting to be doing a fair amount of small maintenance things. Would spending 2-3k over the next few years be a legitimate expectation? From some online research, I have found that a lot of people have had good experiences, but a few have fallen into the money pit. Minor problems I can deal with; any major engine/transmission/drivetrain problems I really do not want to deal with.

This would be the first car I would have to myself and plan to use it as a sort of learning experience.


TL;DR:
What is the maintence outlook on these vehicles? Are there common engine/transmission/drivetrain problems that arise with the 5speed auto at 155k miles? Would this be a good car to buy?

I'd appreciate yall's imput....

Late reply, but someone will eventually find this and wonder what the answer is.
If you are in the USA, it’s a 4 speed auto.
And they are junk. Budget for 5 speed manual swap, because it is significantly less expensive and DIY able compared to rebuilding an auto.

I would not recommend an e34 as a first car. Not anymore.
That bird has flown, about a decade or so ago.

Not when you can get an e46 for the same money, and they are both more up to date, safer, and far more fuel efficient. And honestly easier to work on and get used/new parts for.