AutoTrader Find of the Week: BMW E60 M5 is a Bargain, If You Dare

BMW M cars from the E60 and E90 generations are not exactly the most desirable in the badge’s history.

Despite the fact that the E90 M3 and E60 M5 both received major bumps in power and overall performance capability, the models are seen as having a few strikes against them. In both cases, their significant weight gain is still seen as sacrilege by purists (though BMW hasn’t reversed that trend), and the mid-2000s styling, while aging well, is still a love-it-or-hate-it thing amongst BMW fans.

The bigger problem, though, is that these models were not known for their reliability. Among other issues, the E90 M3’s 4.0-litre V8 is primarily known for a fatal rod bearing issue. It may have barely edged out the Mustang GT in performance tests, but when compared to the 5.0-litre Coyote V8 in terms of long-term reliability? Yikes.

The E60 M5 had its own laundry list of issues. Like the M3’s V8, the M5’s high-strung 5.0L V10 was known to throw rod bearings and have issues with the variable valve timing. Its rear-mounted automatic SMG transmission notoriously chews up hydraulic pumps, clutches, and electronic motors. And because it’s a BMW M car, service costs are typically more expensive than your average commuter.

But here’s the devilish temptation…

The E60 M5 is on the verge of having “classic” status, and many collectors are already hailing it as a historically significant entry for the badge because it was such a monumental leap forward in both technology and performance. And it’s the only V10-powered M5 ever.

There are a few collector-grade examples up for sale right now on AutoTrader.

This 2008 BMW M5 Touring located in Fergus, Ont. (above), and posted for sale on AutoTrader stands out. It’s one of only 1,009 E61 M5 Tourings ever produced. Originally sold in Hong Kong, it is also one of only 222 with right-hand drive. The owner believes it to be the only one in Canada. It’s also had all the proper preventative maintenance done. We’re drooling over its tasteful modifications like staggered BBS wheels and coil-over suspension.

And if you’ve got stupid money to spend and want something with the wrapper still on, this Interlagos Blue 2008 model located in Richmond, B.C. (below), is practically new with only 8,300 km on the dash. It’s equipped with the uber-desirable six-speed manual, one of only 1,366 units produced for the North American market. The private seller is asking $200,000.

If you don’t have $200,000 burning a hole in your pocket, and you care nothing for the collectability or legacy of the E60 M5 but still want a 500-horsepower super sedan capable of zero to 100 km/h somewhere in the low four-second range for around $30,000, there are still some options.

This black 2006 model in North York, Ont. (below), has done a mere 118,000 km can be had for just under $27,000.

This Space Grey Metallic version from Kleinburg, Ont. (also below), has some tasteful modifications, a solid maintenance history, and can be had for $32,000.

These examples are both less than the starting MSRP of a new Toyota Camry.

However, the Camry is known for its reliability. So there’s always the risk that your “cheap” super sedan turns into a bottomless money pit.

So, what should you watch out for if you’re shopping for an E60 M5?

Maintenance records are the most important thing. Make sure your prospective M5 has been dealer-serviced at its regular (or, better yet, shortened) maintenance intervals. Have a good look underneath with a flashlight for any leaking hydraulics, including the suspension and rear-mounted transmission, and any oil leaks up front from worn gasket seals.

If there’s no history of suspension bushings, bearings, and ball joints being replaced, factor that into your negotiating.

If there’s no service history for that known rod bearing issue, the transmission hydraulics, or differential, walk away. Those are all musts. If an owner has replaced parts like the stock throttle actuators (which are known to fail) with specialized aftermarket models, that’s a good indicator of thoughtful ownership.

Owners typically report about $2,000 to $3,000 a year in upkeep and preventive maintenance on E60 M5s, so plan for that as a minimum. E60 and E90 owners also have a fairly active online community with plentiful information, so deepen your research if this is a car that interests you.

Buying a used car like this can be a financial risk, but in some ways, a vehicle with a lot of known issues is a good thing. You have a well-documented and expected list of what to watch out for. Buying any used car isn’t just about rolling the dice and hoping for the best. It’s about making an educated purchase and planning for the worst.

Any car can be unreliable if it was neglected. And any car can be reliable if it was cared for.

And in the case of the E60 M5, if you do your homework, there may just be one hell of a bargain to be had.