buy or not?

I am looking at a 323i, year 1999, with 250,000 (mostly road miles). It's in good condition, well cared for. Only the check engine light is on and the transmission is questionable. I can feel it change from low to high gear. Is this a good risk for only 3500.00? About how much to replace transmission?

250,000 miles is alot. I would bring it to a dealership and have them check it over and give you a quote on whatever else it needs. My instincts tell me its probably a money pit.

that sounds more like something I would buy as a project car, honestly... I'd be trying to get it for less than 3500 too.. if your "butt dyno" can feel problems, your "butt pocket" will be feeling them shortly thereafter, almost guarantee it.

I'd look for something in a slightly higher price range, with less miles, and a full set of service records, or at least partial... best thing about BMW owners that I've found so far: they're usually very proud of their cars.. and they tend to keep EVERYTHING related to it.

BTW, use basic insurance details here, i.e. if you're looking at a 1999, and this is 2006, that's 7 years diff, right?
Therefore, the max (reasonable) number of miles that should be on a *luxury* sedan is approx 60-80k.... realistically, you're looking at more like 125-150k tho.. you can basically plan on doubling the insurance company's figures for real world numbers.