I paid 6k for my 95 last year with 109k on it. It is a quite enjoyable car. If you are an enthusiast and want performance and to want to do a lot of modifications you will be looking for 6 cyl before long. However a 318i is a great starter car, maintenance is straight forward and the operating costs are manageable. I don't think you mentioned, is it a 5-spd?
<img src='http://img.photobucket.com/albums/v417/dport135/newsig.jpg' border='0' alt='user posted image' />
'95 318i Brembo Sport Rotors, B & G Springs, Tokico Shocks/Struts