So I found a 1988 BMW M5 for $6,500 with unlisted mileage
I called the guy, but haven't received a call back yet.

I also found a really nice looking 1991 M5 for $8500. 121k miles on it. 2 owner car. Looks very well taken care of, with service records.


Ive been looking for a daily driver, but the past week or so ive thought about buying a car or two to keep in a small collection, that may one day become a collectors car and maybe possibly turn a profit. These M5's are, I think, one of those cars. They're very affordable to buy right now and I believe they could be one of the next good collectors cars.

 

Seriously, these older M cars will easily set you back the entire purchasing price in maintenance and what not.

Do not look at the price.

And at 121K, if the E34 was not really well taken care of (you wouldn't know until you run compression and leak down), you can easily spend the purchase price just on rebuilding the S38B36.

If you have limited budget, you should look at the more plain vanilla BMW's of modern vintage, like an E46 ZHP or something like that. Cheap to run, cheap to maintain, cheap to buy.

 

Not a smart DD. You will put alot of money into it. This is a 22yo car. Don't buy without a full inspection- leakdown the works. $8500 is not bad for 121k.

 

I hope you don't expect the M5 to be a DD. You'll be left stranded on the side of the road, heartbroken and pissed off if you plan on using a first gen M5 as daily transportation.

 

^^ What they said. If you want a cool old bimmer then buy something else that is cheap as your daily so you can work on the cool old one.

 

E28 M5's CAN be used for DD, but to make it so it's pretty easy to spend close to 30K when you are all said and done.

EAG had a very nice one that we almost bought if it wasn't for the fact that we realized that the E28 platform is just plain too small in the back seats for more than one kid and an adult.

Same story with E34 M5.

Older M cars are hand built that cannot be neglected at any point, or the next owner will need to spend a boat load of cash to make it DD'able.

 

Well Im not going to make it my full time DD. I have other cars to drive. Im just looking for a nice car that could be fun, and worth the investment. I love M cars, and I just thought that maybe these older M5's would be very valuable one day... I know that ill never find one thats "turnkey" but Im not opposed to fixing one up. I have a good mechanic, although he's a flake, he's very good at what he does. Haha

And I wouldn't mind picking up a 330xi as a DD... But if Im going to buy that I might as well just buy an M3... Its what I want anyways...

 

The only very valuable ones are those that are in concours condition or have the hurricane alcantara + purple carbon fiber.

I never understand how people consider 20+ year old, expensive cars a good idea for a DD. I am not knocking the OP, I just don't get it.

 

Love the e34 m5!

If for a daily drive, maybe better to search a good '94/'95? I had an older one for a daily drive, my 2nd car was actually my daily drive if you know what I mean..

 

In the US they ended in 93. S38B38 never came to the U.S.

At this point in the lives of most E34 M5's and E28 M5's, the ones that are reliable and Dd'able are either low mile super well cared for or the very rare enthusiasts owned and maintainted.

Neither camp will go for less than 20K.