I just purchased a 95 Cosmos 3 months ago, the body is fine (orginal) but found out few things:
1. Engine oil is low all the time every 1000-2000 miles will burn a quart
2. Rear shock mount is warn out, need to be replace but should I get the stock one or the one from turnermotorsport.
3. Suspension is kind of weird front left is lower than the right front but I replacing H&R coilover you think it works and do I have to replace the lower control arms.
4. The speaker is make noise from the fenders and they are stock speakers.
5. The upper timing chain is loose I guess need to be replace cos lots of my friendz after they replaced the car feels much quite and smooth.
6. Just replace the O2 sensor cos under 3000rpm feels lacks

hopefully you can share more info with me or I can learn more from you

take care

///MSIMON
95 Cosmos B

1)You should have them check in their database (if they're BMW dealer) and see if the water pump has been replaced. If it has not, you will want to change it/have it changed immediately. The plastic impeller in them tend to crack and will cause a lot of damage.

2)If you hear a clunking sound coming from the rear, it's the rear shock mounts. The aftermarket part from JTD Designs is about $100. The dealer would probably charge 1.5-2 hours labor at $70. It's an easy DIY job.

3)If you hear a clunking sound coming from either the right passenger or the left drivers side, it could be the control arm.

4)Check to see if there are any visible leaks in the engine compartment (i.e. excessive oil on any parts).

5)Check the undercarriage. This will indicate the previous owners driving style. If it's scraped to hell, then look for the BMW OEM stickers on any of the body parts.

6)Make sure all the VIN stickers are in their appropriate locations (i.e. drivers door, engine compartment, etc...).

7)Have someone step on the gas pedal while it's parked in neutral to see if there's any abnormal smoke from the exhaust system.

8)The stereo system is horrible, but the speakers have a tendency to blow. Crank it up a little and mess with the fader and balance to check the speakers.

Just some of the things I looked for while I shopped for my '95. I didn't have mine checked out by a mechanic, but for the price, I would recommend doing so. Hope this helps.

Dat
'95 M3A