BMW E39 M5
The consensus pick for greatest M5: a 400 hp V8, a six-speed manual only, hydraulic steering and a shape that has never looked wrong.
The E39 M5 is the car most people mean when they say 'the best M5'. It came only with a six-speed manual, only as a sedan, with hydraulic steering and a naturally aspirated V8 that pulls hard from 2,500 rpm to a 7,000 rpm cutoff.
It is also the point at which the M5 became a genuinely comfortable car. The ride is supple, the interior is beautifully built, and it will cross a continent without complaint before doing something silly on an empty road.
The S62 has a specific set of known issues — VANOS, throttle actuators, rod bearings — and a car with those addressed is a very different ownership proposition from one without.
Year by year
- 1998–2000 — early cars
Launch specification. Pre-facelift lighting, original VANOS and throttle actuator design.
- 2001–2002 — facelift
Celis rear lights, updated headlights and interior revisions. Improved secondary air system.
- 2003 — final year
Last cars built, best accumulated running changes; low-mileage 2003 examples are the most sought after.
The good and the bad
Positives
- +S62 V8 with a broad torque curve and a genuinely great sound
- +Manual-only, rear-wheel drive, hydraulic steering
- +Comfortable, well built and usable every day
- +Timelessly good-looking
- +Strong specialist support and known fixes for every issue
Negatives
- −VANOS and throttle actuator maintenance is expensive and unavoidable
- −Rod bearings are a scheduled item on the S62
- −Heavy on fuel, tires and brakes
- −Cooling system and suspension bushings all need refreshing at this age
- −Cheap cars usually carry deferred maintenance worth more than the car
Known faults and what they cost
- VANOS unit failure$2,500–$4,500
Solenoid and seal failure causes lost power and codes; rebuild kits with upgraded seals are the fix.
- Throttle actuator wear$1,200–$2,500
Same family of issue as the S65 — rebuild services are widely available.
- Rod bearings$2,500–$4,000
Preventive replacement recommended around 100k miles or on unknown history.
- Cooling system and secondary air pump$1,500–$3,000
Radiator, expansion tank, water pump and the SAP system all fail with age.
Pre-purchase inspection checklist
- 01Cold start and listen for secondary air pump operation and any misfire
- 02Full fault code scan focused on VANOS, throttle actuators and secondary air
- 03Ask for rod bearing service documentation
- 04Check the cooling system age and look for staining around the expansion tank
- 05Inspect rear subframe mounts and the trunk floor for cracks
- 06Test every interior electronic function; the E39 has many and they all age
Modifications for longevity
- Rod bearings
Preventive replacement around 100k miles with updated shells.
- VANOS rebuild
Upgraded seals and solenoids restore power and prevent cascading damage.
- Cooling overhaul
Full system every 8–10 years including hoses and expansion tank.
- Throttle actuator rebuild
Address before failure to avoid limp-mode driving.
- Suspension bushings
Front thrust arms, rear subframe bushings and diff mounts transform the car.
Modifications for performance
- 01Refresh first
A fully sorted stock E39 M5 outperforms a modified tired one in every way that matters.
- 02Exhaust and tune
Around 420 hp with a much better V8 note and improved throttle response.
- 03Headers and cams
450 hp naturally aspirated for track-focused cars; expensive but character-preserving.
- 04Supercharger
550–600 hp kits exist. Rod bearings, cooling and clutch upgrades are prerequisites.
What they are worth
The market has stratified sharply: sorted, documented cars with rod bearing and VANOS work sell quickly at strong money, while high-mileage neglected cars are hard to sell at any price.
Low-mileage 2003 cars in Le Mans Blue, Titanium Silver and Carbon Black lead. This is a car where a thick folder of receipts is worth more than a low odometer.
Owner discussion
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