It’s a pretty commonly shared belief that the E39-generation M5 is the best. Its combination of power, performance, comfort, a lusty V8 and modern enough luxuries make it the favorite among BMW enthusiasts. Despite this, though, my personal favorite is still the O.G. M5. The E28-generation BMW M5 is still the best, in my eyes. Its boxy styling, classic cabin and high-strung I6 engine with serious motorsport pedigree make it the shining beacon of the M5 range. So, naturally, I’d love to buy one, as would many enthusiasts. However, is this cheap classic E28 M5 worth it the risk?
Typically, E28 M5s aren’t cheap. They can run into the $40,000-$50,000 range, sometimes even higher, for really nice examples. This one, though, is very cheap, with a current bidding price of $11,555. That’s basically nothing for such an iconic and highly-desired classic BMW. But this one has a bit of baggage.
The S38 3.5 liter I6 engine in the E28 M5 was based on the M88 in the iconic BMW M1 supercar and revs freely and beautifully. But after 110,000 miles, you may wonder how much longer it can keep it up. Apparently, a lot of engine work was done, $1,600 worth, but you just never know the quality of the work and/or parts used on such a rare engine and car.
E28 M5s always look best in black, which this is. Although, its paint has been resprayed recently and the quality is “meh” at best. There’s some signs of orange peel and some small imperfections. The interior is in good shape, but the leather isn’t the original and has been reupholstered. The steering wheel is also un-original, as there’s some alcantara on it. Its Carfax shows an accident but apparently it was only a minor one involving a parked car. Still, though, it’s worrisome.
My love for the E28 BMW M5 makes me want to buy literally all of them. But this one seems a bit sketchy, even if it is really cheap. But what do you think, is it worth taking the risk on a cheap one?