Bought this car on the cheap for basic transportation and have been pleasantly surprised. While the acceleration will not excite, the handling is outstanding. Stops and turns on a dime. Not a good highway cruiser in my opinion, but great around town. Car is simple enough that maintenance is a do- it-yourself affair, and parts are not too expensive. Looks great, and in my opinion has a "classic" ambiance not present in the more modern E36 3- series.
Sharp handling, easy maintenance
No changes neccessary, this car was "it" at the time it was produced. Lack of cupholder, marginal fuel economy, and lack of power hurt it against more modern machines.