Holy crap dude, you could DEFINITELY get a NICE 325is for about 5 - 9k!!
I bought my great-condition 325is for $3700 with 165,000 miles on it... runs perfectly fine. No weird noises, no rust, paint is in near perfect condition except for the stone chips you'd expect from a 16 year old car.
For 6 or 7k, you should be able to find a low mileage good condition, if not just repainted, 325is.