Checking out a 91 M5 -- buying advice (archive)

I've viewed, but not driven yet. Here's what I know so far... 91 texas car with 87k miles, clean carfax, all service updates, new 18" M5 look alike rims with kuhmos, new clutch, updated suspension work, but pretty stock otherwise. 2nd owner has all records. The only drawback I see at this point is that the car has been repainted -- apparently too much TX sun made the paint fade. Asking price is $17,500.

I'm taking it for a drive tomorrow AM, and to my mechanic for a pre-purchase inspection. I've searched through the board archives, and found a good FAQ (http://bmwe34m5.com/faqs/) which pointed to some things to look out for. I'd love some more advice before I make the leap. My goal is a good daily driver that will also serve me well for driving schools (4-6x/yr.). I passed on an E28 M5, because I questioned the reliability on that higher (127K) mileage car, plus early rust. I'm hoping this car is reliable and fun.

What should I look out for?
What can I expect for operating costs?
Normally my mechanic does nto do a compression and leak down test in the pre-purchase inspection -- is this going to be a big mistake?
Opinion on value?

Thanks and looking forward to joining the board!

Follow Ups:

Re: Checking out a 91 M5 -- buying advice Neil Deshpande 16:54 9/08/2001 (0)
You'd be better off with an e36 m3... less maint. and easier to find parts and modify... 10:17 9/05/2001 (2)
- You're right bostonM3 07:37 9/06/2001 (1)
  - Re: You're right steve m 18:59 9/06/2001 (0)
Where are you located? Rob 20:58 9/04/2001 (3)
- Re: Where are you located? bostonM3 21:02 9/04/2001 (2)
  - Re: Where are you located? bostonM3 21:03 9/04/2001 (1)
    - Re: Where are you located? Rob 09:58 9/05/2001 (0)

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