If the records do not show it has been serviced recently, I would have a mechanic or the BMW dealership run an overall inspection for common things, such as spark plugs, fluids, etc. Check the subframe, given that early e36s have weak subframes. Check out the sticky here in the e36 section about things to check when piurchasing a used e36. Also read through the FAQs to get some more info.
Welcome to BMW ownership. Be aware that you need to pay special attention to your car, since it is 13 years old, and has many miles on it.
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