Faults:

Well I just bought the car. The dealer replaced the throw-out bearing and repaired the rear left brake caliper.

The power feature doesn't work for the top, however, it is very easy to operate manually. Considering I was told that this is about $4,000 to repair, it works just fine.

The battery is almost dead too, but this could be because it has only been driven about 1000 miles in the past two years.

General Comments:

This car is in almost perfect condition. The paint is still glossy, the seats aren't worn, and all the power features except the top work well.

I was a little disappointed at the performance because before this I drove a 325is. That car would outrun any Asian import cars and even some muscle cars. This car can't hold a candle to that. I know the convertible adds weight and this isn't the sport model, but there shouldn't be that great of a difference. I was surprised that the top was only a single layer, even my '92 Celica convertible had two layers. This makes for a little more noise from the road, however, not as much as I would have thought. A lot of room was lost in the trunk from the top, I can't install my speakers in the box they are in. This car rides smoother than any other I have owned and it still handles like a sports car.

Faults:

Passenger ball joint has started to clunk.

I still have a vacuum leak.

Warped front disc's.

Rear suspension trailing arm bushes.

Seized thermostat.

Leaking fuel tank.

General Comments:

This is a lovely car to drive, with excellent handling and a decent amount of poke from the silky smooth 2.0L straight 6 engine. You can even put a £1 coin on the engine whilst it's running and it hardly moves... how cool is that!

My fuel economy started off terribly, but the reason for this is because some previous nit-wit owner had fitted a 14v truck battery to it... replacement to a proper one quickly restored 35+ mpg.

Fold down rear seats also make it very practical too.

The driver side carpet is a tad ripped due to someone driving it in high heels by the looks of things, but otherwise the interior is very hardy.

Otherwise I'd say the reliability is very, very average. I've had other cars this age and had fewer problems, especially with such low mileage.

I'd probably go for a diesel next time for the increased fuel economy (this thing really can drink it if you push it too much) and the extra motorway torque.

Faults:

I owned the car for 12 years. It's a very solid car overall. During this time, the major repairs included:

5th year: Water pump leaked. Replaced the unit.

7th year: Air conditioner replaced

12th year: Water pump seized and broke the serpentine belt. Replaced the pump assembly, the fan, and the belt.

10th year: Replaced shocks.

12th year: Radiator top cracked. Replaced radiator.

12th year: Clutch started to slip during heavy stop and go traffic.

The other car I own is a 10 year old Lexus. As you can see, the BMW is starting to incur major repair. I don't want to have two cars breaking down at the same time, so I traded the BMW in reluctantly.

General Comments:

What I like about the car:

Solid engine. It sings to you.

Solid suspension. The car does not warble going over potholes. Makes tight turns.

Head turner when it was first introduced.

Low maintenance requirement, very few breakdowns, not even oil leaks. Maintenance cost in the first ten years was less than the Lexus ES300 I own.

What I don't like about the car:

The car is very noisy, especially the wind noise. I had to crank the stereo way up when I drive on the freeway.

The standard stereo is under powered.

Compare to other Japanese luxury cars of the same price range, the BMW interior is quite spartan.

Expensive maintenance, but still cheaper than owning a Mercedes.

If you are looking for a 1992 BMW right now, make sure you are willing to keep the car in good shape. Even though it's a great car, the parts will fail sooner or later. If you treat it well, it will reward you with the ultimate driving experience.