"$18,900, 80,000 roughly dark silver sedan. Nothing compares"
You should at least look at a CPO vehicle. For a '07 CPO'd 323i you may be able to get around 23-24K...especially since it's now 2011. I know we are talking about an extra few thousand bucks, but you will have warrenty until 160,000kms. I'd assume warrenty on what you are buying is done (80,000km). Also you should get 1.9% financing (60mths). I'd assume the car you are looking at is at regular bank finance rates.
Sit down with a CPO rep and see what your monthlies will be for CPO vehicle. I have never regretted my decision to go CPO. My friends and family are all "wow a BMW, must be nice..." I'm paying less for my CPO bimmer then they are for their Ford Escapes and Dodge Caravans...
Life is like a sh!t sandwich...the more bread you've got, the less sh!t you have to eat.