New 20-year old daily driver

[repoman0]

Figured I'd share some crappy pics of my new-to-me 2001 M5 after a frigid four hour mid-winter wash and wax. This thing is loud, inefficient and has incredibly outdated technology, but I absolutely love driving it. It's a bit fat and heavy but comfortable and surprisingly fast for such an old car. Corners really well, with nice old school hydraulic steering and an excellent six-speed manual .. which won't go into second gear when it's cold 🙄 Luckily the 4.9L V8 has enough torque that I can drive comfortably in third down to 600 RPM, so no need for second while it warms up. My fiancee loves it, even after not being particularly happy that I bought an even older car than my last one in the first place, and despite the fact that it's usually the loudest vehicle on the road at any given time. (It came to me with a rear muffler delete, which sounds glorious but already purchased nice aftermarket Italian Supersprint mufflers to quiet it down)

Hoping I can keep this guy rust free for many New England winters to come.

After a few weeks I finally had to install my front plate with one of those no-holes adapters. I sold my last daily and I need to drive on an Air Force base for work ..

Yeah, I know the garage is filled with junk when the car should be in there. I'm getting it expanded soon.

 

[repoman0]

Bonus pic of my new dog, the reason I bought this giant beast for too similar a price to the new ND Miata I originally wanted than I would have liked. He needs a back seat to ride in luxurious comfort.

 

[Hans Gruber]

Looks great. Can we get some interior shots of the M5?

 

[Fenixgoon]

grats on the M5! wishing you many years of enjoyment 🙂

need to hear the engine roar 😀

 

[repoman0]

Embarrassingly I haven’t taken any, but I have a few extra crappy ones from the seller

It has the complete leather interior, meaning cow hide literally everywhere ... dash, door panels, center consoles surrounding trim. I like it more than I thought I would aside from the fact that I already have an expensive used dash from m5board sitting in my guest room ready to go in because this one has shrunken over the past 20 years. I also thought I’d hate the wood trim but it’s nice in person.

There’s a guy on the forums who has developed a device that plugs into the car in place of the six CD changer that provides Bluetooth music and calls using the OEM mic and nav unit. I have one coming ... 2008 tech here I come!

My fiancee really appreciates the dual zone climate control, which is a first for us. I leave mine set at 60 and she puts it at 80 or some insanity, and it works surprisingly well.

 

[repoman0]

grats on the M5! wishing you many years of enjoyment 🙂

need to hear the engine roar 😀

Thanks! I’m getting some kind of video setup for track season this year so I can critique my shitty driving. I’ll have to try it in this guy which has a much much nicer exhaust note than the M3. I’d leave that muffler delete in place but it makes me feel guilty passing people because I sound like such an ass.

 

[Arkaign]

Glorious! I recently bought a 750i xDrive Msport for the comfy factor, but ended up also picking up a spare Volvo s80 to use as my mile chewer so I wouldn't have to drive the poor Bavarian into the ground.

That E39 looks epic. Probably my favorite BMW next to the mid-90s 845/850s. M3s I can take it or leave it. My 750 is very nice, but not especially memorable. Their SUVs are disgraceful. The modern 3s are simply too anaesthetic and removed from the direct engagement of their iconic forebears. The V10 gen E60 was wonderful in theory, horrific in practice. The 80s lineup was cool, but not amaaaazing by any stretch.

But the E39 M5, especially in three pedals form, but any of them will do : sublime. That's going to just keep rising in value going forward, just like the E30 M3 and 850CSi started jumping up a ways back. They have been on the rise for a little while, but I think it's gotten to the point where low miles nice examples are beginning to solidify in the hands of people who know what they've got, and they're just not going to sell them onwards for cheap, nor drive them into oblivion as if they were disposable.

Might be worth considering slowly searching for some OEM parts to have on hand for the day you ever decide to part with it. Original spec will absolutely command a premium, and then you can polish up and resell the aftermarket stuff on eBay or BMW forums to recoup additional $$.

Another thought. The OG M5 E39 wheels are quite expensive to replace. Given your region in particular, it would be worth thinking about carefully wrapping and storing the OGs, and getting yourself a nice reasonable aftermarket set for driving around with. Originals are now $2500+ up a set for even average condition, with loosies easily fetching $750+ a pop in good shape.

 

[repoman0]

Glorious! I recently bought a 750i xDrive Msport for the comfy factor, but ended up also picking up a spare Volvo s80 to use as my mile chewer so I wouldn't have to drive the poor Bavarian into the ground.

That E39 looks epic. Probably my favorite BMW next to the mid-90s 845/850s. M3s I can take it or leave it. My 750 is very nice, but not especially memorable. Their SUVs are disgraceful. The modern 3s are simply too anaesthetic and removed from the direct engagement of their iconic forebears. The V10 gen E60 was wonderful in theory, horrific in practice. The 80s lineup was cool, but not amaaaazing by any stretch.

But the E39 M5, especially in three pedals form, but any of them will do : sublime.

Fun fact about the M5 variant: they only ever made it in three-pedal form, which makes it really easy to search for used. No cars to automatically disqualify 😛 But totally agreed .. the V10 E60 is totally uninspiring in comparison even though I could have gotten a nice one for a third to half the price. I would have loved an E30 but these E39s live a little more on the practical (and safe) side for a daily compared to such old tech.

That's going to just keep rising in value going forward, just like the E30 M3 and 850CSi started jumping up a ways back. They have been on the rise for a little while, but I think it's gotten to the point where low miles nice examples are beginning to solidify in the hands of people who know what they've got, and they're just not going to sell them onwards for cheap, nor drive them into oblivion as if they were disposable.

Might be worth considering slowly searching for some OEM parts to have on hand for the day you ever decide to part with it. Original spec will absolutely command a premium, and then you can polish up and resell the aftermarket stuff on eBay or BMW forums to recoup additional $$.

Another thought. The OG M5 E39 wheels are quite expensive to replace. Given your region in particular, it would be worth thinking about carefully wrapping and storing the OGs, and getting yourself a nice reasonable aftermarket set for driving around with. Originals are now $2500+ up a set for even average condition, with loosies easily fetching $750+ a pop in good shape.

Yeah, I’m discovering that the hard way about the wheels. I’ve been looking for an extra set since I need one with summers and one with snows and they are really, really hard to find. I’ll probably go with 18” BBS RG-Rs instead, but undecided if those will be the summer or winter wheels

One thing I’m not worried about is resale value. I’ll be disappointed if this thing has less than 300k miles and is worth more than a thousand bucks by the time I’m done with it. Currently 58k miles and counting. The E39 M5 seems to be the one reliable M car with no catastrophic failure points that BMW has ever made.

 

[BonzaiDuck]

58K miles on an '01 Beamer seems like a very lucky find.

Buying a used car of Beamer quality is probably the wisest choice for anyone who isn't driven by present-oriented economic desperation. It's a good investment. You only have to be attentive to maintenance and parts replacement, and you should have a reliable ride -- even with pride.

 

[manly]

58K miles on an '01 Beamer seems like a very lucky find.

Buying a used car of Beamer quality is probably the wisest choice for anyone who isn't driven by present-oriented economic desperation. It's a good investment. You only have to be attentive to maintenance and parts replacement, and you should have a reliable ride -- even with pride.

Huh? If you find the right M3 or M5, it could slowly appreciate in value over time.
For everyone else, you're looking at potentially a high TCO. Not sure how getting a used Bimmer is ever a "good investment."

Having said that, despite having never driven an E39, I've toyed with the idea of buying a 2003 530i if just the right one comes along. Nothing pristine like the OP's; looks like you could eat dinner off of that hood! With that low mileage on the odo and reputation as perhaps the ultimate BMW sedan of all time, it's probably going to appreciate going forward. But hit me up before you ever list it for $1k.

 

[pauldun170]

Holy crap.
That is a really nice find, especially with that sort of mileage and now all I want to do is go shopping.
Whats the story on the clutch in those cars? Did they really use the same one from the M3?
You carrying extra 10w60 in the trunk? I vaguelly recall those getting pretty thirsty when it comes to oil.

 

[monkeydelmagico]

God I love those M5's. Best of the breed. Was stationed in Germany late 90's and bought a new E46. Buddy got a 540i sport. Ripped around on the autobahn. Spent a day at Nordschleife. Freaked out trying to drive in Italy. We had some good times.

I get nostalgic occasionally and go looking for a nice E39. Nice find and miles of smiles repoman0.

 

[Pantoot]

Holy crap.
That is a really nice find, especially with that sort of mileage and now all I want to do is go shopping.
Whats the story on the clutch in those cars? Did they really use the same one from the M3?
You carrying extra 10w60 in the trunk? I vaguelly recall those getting pretty thirsty when it comes to oil.

I had an E60 that would drink a liter every month or two. I did love the car though. Even had a fancy pouch in the trunk with a spare liter everywhere I went.

 

[repoman0]

Huh? If you find the right M3 or M5, it could slowly appreciate in value over time.
For everyone else, you're looking at potentially a high TCO. Not sure how getting a used Bimmer is ever a "good investment."

Having said that, despite having never driven an E39, I've toyed with the idea of buying a 2003 530i if just the right one comes along. Nothing pristine like the OP's; looks like you could eat dinner off of that hood! With that low mileage on the odo and reputation as perhaps the ultimate BMW sedan of all time, it's probably going to appreciate going forward. But hit me up before you ever list it for $1k.

Definitely not a good investment, even with appreciation. I have an E46 M3 that I bought five or so years ago that I’ve had serious offers for nearly double what I paid .. but between insurance, taxes, maintenance and mods I’ve maybe broken even, if that. It’s not for sale anyway, too much fun on a circuit (but trash on crappy New England roads compared to the E39 🙂 )

I guess the $1k figure was an exaggeration. There was that 410k mile one that someone bought for around $12k recently if memory serves ..

Holy crap.
That is a really nice find, especially with that sort of mileage and now all I want to do is go shopping.
Whats the story on the clutch in those cars? Did they really use the same one from the M3?
You carrying extra 10w60 in the trunk? I vaguelly recall those getting pretty thirsty when it comes to oil.

There are a handful of good ones on m5board! That’s where I got this one, 400 miles from home. Be careful, I didn’t particularly want one until I started shopping there.

The 2000 model is supposedly pretty oil thirsty, but they changed the piston rings (and reduced rated power by 5HP) in 2001 due to complaints. TBD whether mine will need occasional oil, but I have one of those goofy pouches from my 7 years of ownership of various E46 cars with 3L M54 engines ..

Re: clutch, not sure if it’s the same one as the M3 but it’s a known weak point, underspecced for the torque and power output for sure. I’m not much of a slipper most of the time so should go a while, but we’ll see. I do most work myself but I think I’m at the point at the ripe old age of 30 where I refuse to drop a transmission on jack stands.

 

[zinfamous]

Definitely not a good investment, even with appreciation. I have an E46 M3 that I bought five or so years ago that I’ve had serious offers for nearly double what I paid .. but between insurance, taxes, maintenance and mods I’ve maybe broken even, if that. It’s not for sale anyway, too much fun on a circuit (but trash on crappy New England roads compared to the E39 🙂 )

I guess the $1k figure was an exaggeration. There was that 410k mile one that someone bought for around $12k recently if memory serves ..



There are a handful of good ones on m5board! That’s where I got this one, 400 miles from home. Be careful, I didn’t particularly want one until I started shopping there.

The 2000 model is supposedly pretty oil thirsty, but they changed the piston rings (and reduced rated power by 5HP) in 2001 due to complaints. TBD whether mine will need occasional oil, but I have one of those goofy pouches from my 7 years of ownership of various E46 cars with 3L M54 engines ..

Re: clutch, not sure if it’s the same one as the M3 but it’s a known weak point, underspecced for the torque and power output for sure. I’m not much of a slipper most of the time so should go a while, but we’ll see. I do most work myself but I think I’m at the point at the ripe old age of 30 where I refuse to drop a transmission on jack stands.

well I mean...mods. you have no one but yourself to blame, there. 😀

I assume that also severely hurts value doesn't it? It strikes me that the last thing you want to do with those unicorn cars that actually appreciate in value--especially still-contemporary cars--is to "unstock" them, no?

ok, maybe I shouldn't say "contemporary." If my math checks out, 2000 is actually 20 years ago now? wtf....

 

[repoman0]

well I mean...mods. you have no one but yourself to blame, there. 😀

Lol, fair enough!

I thought the same about mods and value, but here’s the record auction on BAT: https://bringatrailer.com/listing/2004-bmw-m3-36/

90 grand and pretty not stock. There seem to be parts that are almost universally wanted on those cars .. OE or high quality aftermarket CSL body components like the trunk, diffuser and roof, Brembo brakes, fixing the poor stock seats with Recaros or equivalent, quality coil over suspension, etc.

 

[pauldun170]

 

[zinfamous]

Lol, fair enough!

I thought the same about mods and value, but here’s the record auction on BAT: https://bringatrailer.com/listing/2004-bmw-m3-36/

90 grand and pretty not stock. There seem to be parts that are almost universally wanted on those cars .. OE or high quality aftermarket CSL body components like the trunk, diffuser and roof, Brembo brakes, fixing the poor stock seats with Recaros or equivalent, quality coil over suspension, etc.

that is one fine machine.

why is it on bringatrailer? seems like no issues with the car, whatsoever. I didn't watch the videos, though.

 

[repoman0]

Great video, spot on. Made me want to go out for a drive, but I wish roads here in Massachusetts were as nice as those.

that is one fine machine.

why is it on bringatrailer? seems like no issues with the car, whatsoever. I didn't watch the videos, though.

If you're not familiar with bringatrailer -- it's just a site where people sell fun/cool/unique cars, not necessarily that they aren't running (some might not be street legal 😛 likely the origin of the name). Very fun site to browse.

 

[zinfamous]

Great video, spot on. Made me want to go out for a drive, but I wish roads here in Massachusetts were as nice as those.



If you're not familiar with bringatrailer -- it's just a site where people sell fun/cool/unique cars, not necessarily that they aren't running (some might not be street legal 😛 likely the origin of the name). Very fun site to browse.

ah, OK. I'm only familiar with it from Youtubers that buy wrecked fancy cars--ferraris, R8, teh fancy Focus RS, lol. and so I assume they are all just obliterated cars that can only be unloaded as inoperable for "unknown reasons"

If I had buckets of money, I'd buy a 2019 Golf R w/DSG, a wrecked RS3, and swap that sweet sweet 5cylinder RS3 motor into the R, because asshole Audi doesn't ship the hatchback to the states. ....I assume that should be straight forward, as long as the R transmission can handle the RS3 engine. ...I assume it can? I know the manual transmissions in those are pretty terrible (the GTI, anyway).

 

[repoman0]

Small to-do list from the inspection at the shop I had install the mufflers to replace the muffler delete pipes (which is a major upgrade in driveability by the way due to not having to worry about attracting too much attention within a one-mile radius whenever I thrash on it)

- Minor power steering hose leak
- Minor driver side valve cover gasket leak
- Bushings and ball joints all around
- Front differential seal leak
- Front brake pads low

All basically expected .. 20 year old rubber degrades regardless of low mileage. Most of this I will do myself, already had the brake pads actually. It's kind of a problem when I get a maintenance list and get excited about buying parts and adding a few projects to my list. That said I'll probably have a shop do suspension work and the diff seals ...

 

[AdamK47]

I live a few miles from a company called Enthusiast Auto Group. They usually have very nice examples of the E39 M5 for sale in the $40K to $60K range.

 

[repoman0]

I live a few miles from a company called Enthusiast Auto Group. They usually have very nice examples of the E39 M5 for sale in the $40K to $60K range.

Yeah, their cars are beautiful and prices are crazy, though they seem to sell them all and are known for not negotiating. They only sell 2002 and 2003 M5s which has helped make the 01s a little less desirable and therefore cheaper, even though the only difference is the nav computer in the trunk. I replaced mine with the newer one, took five minutes and is plug and play.

The second owner of my E46 M3 bought it from EAG actually before he sold it to me, and that has been a flawless car.

 

[WhiteNoise]

Damn OP that is a clean example.

 

[mopardude87]

No shame in getting a 20 year old cream puff of a car. I have been eyeballing some $2k Corollas that crop up like 95-97 ones that got less then 150k half the time. Those are the best years outside of anything with a 22r. These examples i find occasionally are time capsules, flawless and for $2k i think a real bargain.

Well anything with a straight 4-6 is bullet proof,i would know i owned a few slant 6 cars and a 82 280z that simply outperform the reliability of even Honda. Got my eyes on a 65 gt with bucket seats and a v8. Given the known reliability of the 360 as one of the only american motors to hit 1 million miles,i may opt for a 360 magnum crate. $2.9k for a crate 360 magnum with 320hp is a bargain and would be about drop in. 🙂

Nice car Op, its a good one i hope you enjoy. I have driven MUCH worst. 🙂