im lookin to buy a 96 m3 with 196,000 miles on it, i know quite a bit about audis, and volkswagens, but this is my first bmw, the guy wants 2300 for it, is that a good price even though it has 196,000 miles on it?
by the way im buying it off the original owner, and he took great care of it, and it is in perfect condition, it has no rust anywhere on the car

Yes, that's a very good deal!

Here's on on ebay for more than that - http://cgi.ebay.com/ebaymotors/Cars-Trucks___96-M3-2-door-manual-5sp-no-reserve_W0QQitemZ170261909768QQddnZCarsQ20Q26Q20Tr ucksQQddiZ2282QQcmdZViewItem?hash=item170261909768 _trkparms=72%3A727%7C39%3A1%7C65%3A12%7C240%3A1318 _trksid=p4506.c0.m245

BMW's can live to 300,000+ with proper maintenance. Make sure you get a CarFax report. A BMW that old is a great car - if it's been treated with TLC - make sure you're not walking into a mind field. BMW's get up there in price if not treated right.

If something does go wrong except to pay pretty big - parts labor are expensive with Bimmers.

It is totally worth it because they're such fun.

bargain!!! go for it - with only one owner the mileage is irrelevant

Depends on the condition of the car. For $2300. I would get it even if the car is in poor condition (I have mechanical background, I can fix most of the problems on my own)

Likely that the car would need an engine rebuild or engine replacement ( most tracked M3s do need major engine repair after 150K miles) But who knows, maybe the previous owner took real good care of it and the engine would last over 200K.