That's *extremely* low mileage for an '88.  If it truly is 48K miles, it's
a steal at almost any price.

I would have all the rubber parts - hoses, belts, replaced immediately.
I would have the front suspension check for looseness - although the
miles aren't high, the years are.  If it was garaged, and driven in non-
corrosive conditions (non-ocean, non-winter-salt), the front end is
likely to be ok, but you should check.

You have the M30 engine - runs on regular unleaded.  I wouldn't
expect to get much more than 20-24 highway, 15 city, especially
with an automatic.  If you have a 5 speed, that's a very rare car,
although not worth appreciably more than an auto.

Unless the tires are almost new, get new tires.  Old tires get hard
and have almost no traction.

Floyd

That mileage is insane for a 16 year old car, verify it if you can via
service records.  Usual cautions on any old bimmer, history, history,
history.

Gas mileage is weak to terrible, don't expect an economy car.  Regular gas
is fine, they are just thirsty if you have a left foot like mine.  But
they're a very, very nice cruising machine, I've been lucky enough to take a
few long trips in E32's and enjoyed them immensely.  With miles being that
low I'm not even sure what to tell you to look out for, I guess I'd say
hoses and belts as they can fatigue over time even without a lot of miles.
Also exhaust -- it's a 10 + year exhaust normally, and pretty fearsomely
expensive when it needs replacing.  I'd expect everything to be working
perfectly with miles that low and *don't* ignore any warning lights or dash
messages that are coming up.

-Russ.