New to BMW's and looking to buy '95 525i
New to BMW's and looking to buy a 1995 525i 5 spd. Car has 270K on it. They body is straight w/ only very minor surface rust in 2 spots. Took the car for a test drive and it shifts good (supposed to be a new clutch and trans) and pulls good. The interior is clean, but the seats will need some repairs. Here's the list of things I found:
1. Headlights are cracked
2. Brake lining warning is illuminated
3. Exhaust leak near drivers side door
4. Passenger seat needs to be repaired (it is reclinded and won't come back up straight)
5. I heard a clunk from the front right wheel. It sounded suspension related, but not sure.
They are asking $1800 for the car. KBB value has it a $3400. Is there anything specific I should be looking for? A friend of mine told me to look in the oil filler for sludge. Anything else?
Any help or suggestions would be greatly appreciated. Thanks in advance.