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A few questions for a newer 535i owner

I will be hopefully purchasing a 1990 535i next week.  The car is in real
clean condition asides from a few things I might have the dealer take
care of i.e. struts, check freon, speedometer don't work right, coolant
gauge, and backlight of radio.  It had 118,000 miles on it.  He was asking
about 13,900.  My questions are this, since I am new to the BMW line
of automobiles (formerly all Audi is what I owned), is this a fair price?
What is the general life I could expect from one of these cars?  And
are there any common problems on these cars I should be made aware of
and check for?  I noticed that VDO makes the speedo, odom cluster for these
cars as well.  Previously on a few of my Audis, the odom would give up, 
same problem with BMW?  This particular odometer in this car is electronic
(LCD readout) BTW.  Any last things I should be made aware of?  Thanks
in advance.
Rob Andrews
randrews@domain.elided