Warning!
We have 15 years of archives. Links older than a year may have been updated to point to similar cars available to bid on eBay.
This site contains Ebay partner affiliate links, which may earn us a commission at no additional cost to you.
When it comes to fan favorites, few cars tick the right boxes like the original M5. It has a mystique about it that really sets it apart from even its M siblings, as if it were somehow made from a different mold than the M3 and M6. Coupling a great shape, excellent driving characteristics and one of the most dynamic inline-6s ever made, the M5 was the stuff of legend right from launch. That’s why it’s particularly puzzling that it has not gained the star power of the M3 or M6; true, the M3 had a much more substantial racing history – but it’s quite hard to say that it would put a bigger smile on your face than the M5 would. Every one-ramp and exit ramp becomes an opportunity to get that rear end to step out just a bit; it’s so easy to catch, it almost feels like it was designed to drive at a 10% slip angle. I remember the first time I climbed behind the wheel of my father’s M5 – I felt like I was on top of the world. There was a ferocity to the way the needle climbed the tachometer coupled with a raw scream from the S38 that few cars I’ve driven since have been able to match – it was worthy of instant goosebumps. I’ve driven faster cars – much faster cars – but the M5 feels special in ways they just don’t:
The ascension of the E30 M3 and subsequent increase in value of both the E28 M5 and E24 M6 have underscored the incredible value of the lone early 1990s BMW M survivor, the E34 M5. While purists may complain that the E34 was heavier and a more dulled experience than the E28 M5, I’ve always found the E34 to be an even better representation of the M experience. M cars were all about stealthy performance, and in my mind the E34 is the most stealthy M car produced. Another reason I like the E34 versus the E28 is the introduction of more colors than just black – in this case, this E34 is the same color combination as the first M5 I ever sat in; silver with grey leather:
I think I like the new F10 M5. Despite the technology overload and a severe distaste for the sound-reproduction technology, any time I see one pass I dream of slapping on an exhaust that makes electronics unnecessary and letting the twin-turbo V8 do its thing – spinning tires. When the E60 M5 came out in 2005, I didn’t really get into it. The styling didn’t do much to improve the E60’s ugly genes, and all accounts seemed to find the SMG and V10 interesting at best, confused and pointless at worst. But now, as I see them ignored in parking spots, a few years removed from being the king of the hill, I see many parallels to the E28 M5 I hold so dear. The engine is motorsport-derived and batcrap crazy. It’s certainly a Bahn-stormer, and flies under the radar of most. The owner of today’s M5 must have some appreciation for the E28’s only-black US availability, as they have endeavored to completely black it out. The real headline here, though, is the fact that regardless of where your M5 affinities lie, there’s no question that low-$20s for a 500hp V10 is a silly performance deal.
While generally I find myself looking at C4 Audi S4/S6s and thinking they’re an amazing deal right now, it’s hard to not feel the same way about the E34 M5. If the E28 was the unloved M from the 1980s for some time, more recently we’ve seen a surge in E28 prices that are starting to pick the “original” super sedan up in price. In some cases, clean versions of the E28 M5 are now trading for more than their sister in a prettier dress that has traditionally carried more value, the M6. In even more rare cases, some have surpassed the values of the market-darling E30 M3. Where’s the M deal to be had now, then? Even if the driving experience was dulled slightly by some added weight and luxury with the E28’s successor, the E34, the retention of the great drivetrain coupled with some refined looks wasn’t all bad. In my opinion, the E34 is a very worthy replacement for the E28 – and a strong alternative to the S4/S6 market which is also beginning to tick up slightly. Check out this first year Brilliant Red example:
I passed on a decent, local M5 that was in very similar spec to the one I ended up buying due to some pragmatic reasons – lower mileage, lower price, newer rebuild – as well some reasons that were more intangible but made traveling across the country to drive it back seem worth it. The big “gut feeling” reason was finding a seller who loved the car and could talk to me about every piece of the car. You’ve got to go into buying one of these knowing that you’re in for some work, and I’d rather know that the previous owner had acute knowledge of what was happening instead of “uh, yeah, the mechanic did something up there because something was broken.” Today’s E28 M5 looks very clean, with a nicely maintained interior and exterior, but the details aren’t exactly flowing, leaving enough question marks to keep the bidding lower than most 80s M-cars these days.
