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A couple of years ago I saw a little white 2004 E46 316ti for sale on the side of the road near where I live. Asking $2500. But it had some panel scrapes down the left door & 3/4 panel, although not too obvious at a casual glance. After a test drive in the hills nearby, I offered $2000 and drove it home. A few days/weeks later I noticed puffs of smoke when driving around town. Sometimes quite a lot. One time waiting at the lights outside a packed Sprig & Fern it tried to lay down a smokescreen. Checking later I found the oil filler cap full of creamy gunk. I thought I'd blown a head gasket. A bit later the starter motor failed completely close to home. It was off the road for a few weeks as I sought instructions to take it out, and had to order some torx ring spanners from overseas to get the top bolt out. $400 for a new starter, and $100 for a new CCV valve with insulated hoses, I eventually got back on the road. $300 for a couple of new tyres, new WoF, and I was back on the road. The transmission is a bit of a reluctant up-shifter, and sometimes goes into diagnostic mode on cold mornings. I ordered a transmission filter from Latvia or somewhere, but it arrived with a damaged gasket. Got a refund without sending it back, and ordered another one from Aus. Got the Caltex oil waiting for me to feel in the mood for getting dirty. In the meantime I've got quite a nice little non-smoking motorcar. Not much poke, but heeeeaps of fun on a winding road like the Takaka Hill...

A couple of days ago I saw a little silver 2006 E91 325i for sale on the side of the road near where I live. Asking $3000. But it had a slight ding in the driver's door and a couple of very minor defects, although not too obvious at a casual glance. After a test drive in the hills nearby, I offered $2600 and drove it home. Sh*t I hope it goes better this time...

Edited by Accidental Bimmerer
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Sounds like a rough introduction, but on the bright side, you started off with one of BMW's worst engine from the past 20 odd years, so things can only go up from there.

I'm willing to bet the valve stem seals will be shot on the little ti, very common issue on those N42 engines. Very tedious job replacing those, probably beyond the average DIY enthusiast and you do need some special tools. I've done it once and it took the better part of a weekend. You'll be looking at close to a $2k bill if taking it to a shop. The ti is a fun wee car but unfortunately the 4-cylinders in them are absolute pigs and are more trouble than they're worth. Either engine swap it or get rid would be my recommendation.

I dare say you'll have a much better experience with the 6-cylinder, although not without its issues. Luck be with you!

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I owned a silver e91 325i for quite a few years and it was an awesome car that gave me only minor issues, the odd misfire from a bad ignition coil and a wheel speed sensor failed. Fantastic cars that are a pleasure to drive. 

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If your goals include money pits then it sounds like you are well on track

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