The BMW E28 M5 is one of those collector cars that has no doubt gotten more expensive to buy, but it’s still relatively in reach if you’ve got the means to devote $40,000 – $50,000 to a hobby car. That is still a lot of money to drop on anything that isn’t driven daily (or even drive daily, for that matter), but as it relates to vintage BMW Motorsports models, it’s still a relative bargain. Our subject car today has been with the same owner for 30 years and still presents incredibly well for a vehicle with 133,000 miles on the clock. Find it here on eBay for $48,900 or best offer.
The E28 M5 was one of the first cars that made the concept of a fast four-door a mainstream concept. Sure, there was the 6.9-liter Mercedes-Benz 450SEL, but that car was so exclusive that it almost didn’t register with the domestic market outside of German car fanatics alive and well in the 1970s. The E28 M5 made it very cool to own a sedan and was marketed as such. In a similar way, Volvo made the boxy Turbo Wagon a smooth operator owing to its clever marketing demonstrating just how fast a wagon could be when equipped with the right drivetrain. The selling dealer of this M5 notes the long-term owner bought the car in 1988 but doesn’t call him or her the only owner, which makes me wonder if they bought it as a low-mileage trade-in.
The M5 truly is in exemplary condition. In addition to the mechanical upkeep, the interiors can also be a source of agony for anyone who buys an E28 M5 in project form. The interior featured a leather-wrapped console and center stack, so there’s tons of pricey leather work to do inside. I can’t tell if this car has been previously refreshed or just lovingly maintained, but the seats and consoles are in excellent condition. The E28 M5 also featured a three-spoke Motorsports steering wheel and unique “M” badges embedded into the seats. All the important details appear to be correct with this example, demonstrating years of proper care despite racking up the sort of mileage that indicates it was used regularly.
The S38 inline-six drivetrain is a beautiful engine but also one that can be extremely pricey to rebuild if necessary. The seller doesn’t talk much about maintenance records but indicates the Carfax history (largely useless) shows years of steadfast dealer service. The seller reports the M5 fires up instantly with no smoke at startup, and that the driving experience reveals no issues even when driven hard. The air conditioning has been converted to R134 but does not blow cold at the moment. Overall, I can’t find much fault with this M5, and won’t even argue with the asking price given how desirable these have become in recent years.
The e28 was a BMW that lived up to the ultimate driving machine slogan. Installing European bumpers really transforms the look of these cars and is what I did when I owned my 535i. The one looks to have been well kept and I’m sure it’s a real blast to drive. No fake engine noise here or silly bells and whistles just a pure analog experience. The way drivers cars should be. I think BMW lost the ultimate driving machine status with their current line up and have you seen how butt ugly they are?
I’d give about $2,500 for this overpriced WunderKar. For the asking price? You could buy a practically new Mustang GT. That will flat out blow this thing into the weeds, in every performance catagory.
That’s quite the apples to oranges comparison.
Hey, it’s your money. I’m simply stating that if you’re spending that kind of money on a car you’re actually going to drive? There are a lot better options. Just my 2 cents.
While your statement about the Mustang is true, I have to respectfully disagree with you, and I’m obviouslyl a big Ford fan. The Mustang and these BMWs appeal to an entirely different demographic and customer base.
There are subtle things about these that exude quality and a sense of being exotic that you just can’t get in a Mustang. Conversely, from a pure performance standpoing the Mustang obviously performs better in pretty much every category.
I don’t think it’s fair to compare the 2 vehicles, frankly as they are targeted at completely different audiences. I’ve also got to add that all these Mustangs with black wheels are ugly as sin.
@Big C LOL! How is your comment even relevant?
The e28 in M livery was an amazing car to drive, certainly my favorite generation of the 5 series. With M3’s of the same period getting 50% more, these cars are still bargains in the marketplace
I have a friend who took the risk and got a beautiful 150k miles for $9k about 10 years ago. The engine was prohibitively expensive to gamble with then, but since the price skyrocketed major repairs could be absorbed if bought right currently.
Driving a good one is a dream. I remember being “challenged” by a ’69 KR 500 on 77 heading out of Cleveland. We blew him off
without much effort . It feels like flying when you want to go…. you really have to drive one.
Here’s the one to own! You can actually wrench on this car. New Mustang? Have you ever owned a Porsche, BMW or Audi High Performance car? They are different cars in so many ways.
I will never own anything from the Fatherland, thanks.
Your loss, but hey, it’s your money.
As an auto enthusiast, you shouldn’t limit yourself.
oh gimme a break. I’ve owned one of these and they are, especially for the time, a great car. But blowing away a gt500? What a load of…(best friend had a 429 cj so I can speak to this). Maybe if you came up from behind, already above the 3300 rpm threshold,so entering into the engines sweetspot,you might get the jump, but not for long.
As to this comparing to a current Mustang Gt? Try this…give a 19-28 year old both cars for a day and they’ll keep the GT and return the M every time.
These are great cars from back in the day, and the S38 is indeed a very sweet revving engine, but it ain’t magical. Many modern cars have recaptured the “soul” of driving. Faster, handle better, way more reliable and far better value when the price of entry is the same with one being new and one having 133k miles.
My favourite BMW. Just everything a 4 door BMW should be.
But agree with @Alphasud, just ruined by federal bumpers
You guys that are working so hard to make a case for modern cars being so much better than vintage cars on a site that is *literally* about vintage cars don’t even know how funny you are. :\
Early 2000’s, I was a younger guy with an Audi S4 and an older guy at work had one of these first gen M5s. I had never been in one, so he offered to take me for a ride. It was one helluva hell ride! He knew how to wring every ounce of performance out of that car – I walked away very impressed, and quezy in the stomach.
It wasn’t until later that a co-worker told me how crazy that guy is behind the wheel.
First, the Mercedes-Benz 450SEL 6.9-liter was only fast for the time it existed as it’s meager 250hp and its behemoth bulk conspired to make a sedan that ran 0-60mph in over 8 seconds. What you should be referring to as the Mercedes-Benz 300SEL 6.3. Now THAT car could get up and move and, like the E28 M5, even had a true Motorsports pedigree being the basis for the eternally famous icon, the Red Pig. When people ask me about the BMW M1 supercar I tell them: “The greatest M1 BMW ever made has 2 more doors and is called the E28 M5″… One of the greatest passenger cars ever created. It’s an icon and worth all the hype.
Those 6.3’s were special. Still a heavy car but the mechanical fuel injection really woke that engine up. My 535i came in at a close second to the M5 as a daily drive with lower operating costs. I still drooled for a M though. I know it’s kind of like drinking a Coors light at the bar when you see your friend during a dark ale.