I just bought this car, and in doing so I have learned a hard life's lesson. Have you car inspected before buying. I have not received the bill on repairs yet, but my trusty mechanic is ringing up some numbers and I don't expect them to be cheap. I have to over haul the entire suspension front and rear and then replace the clutch and fix a crazy amount of leaks that began after the 3 hour drive home after purchasing plus many many more items. After all this though, I freaking LOVE this car and no amount of money will force me to part from the sexy style and classic feel. Even on bad suspension she drove like a dream. It's my first classic BMW and definitely wont be my last.
Bought used from private party. Aprox. 70,000 miles, great condition all around, everything works great. I've owned 3 cars like this one and can safely say that they are VERY reliable. Of course, as old as they are, buy one as nice as you can, and treat it with a little TLC and it should reward you for years to come. If you want a daily driver, this could work, but serves much better as a cheap classic car for summer fun.
I find this car fantastic, its fun to own and drive besides minor repairs it has been very reliable and not expensive to run and maintain. It still turns heads and is almost 16 years old!!! Good style BMW. The car has a split personality and will be very docile if left to its own devices but will become a beast if you demand it of it which brings me to the only thing I could do without is the relatively flat power band until the engine speeds over 3500RPM from where it just rockets to the red line with a fantastic engine sound that just encourages you to keep your foot down. I would advise anyone interested in such a car to buy it, if in good nick, and you wont look back
I've owned this car since 1999 and have logged 115000 on the odometer (the car is about to hit 200k). Since I got the car, its been my trusty daily driver and fun machine having taken it on several road trips (including Yosemite) and have autocrossed with it. It's also pretty frugal getting about 27 mpg in mixed driving, although due to taller gearing than its hardtop siblings, it doesn't get mileage in the low 30s like they do (the cabrio has a 4.27 final drive ratio and the sedan and coupe have a 4.10). I highly recommend any of the '91 318i models to anyone looking to get into their first BMW. I'm soon retiring my car for weekend fun and buying an E36 318i for my commute.