It had to happen eventually.
A recent trawl through the classifieds confirms that early examples of the ‘E39’ generation BMW 5-series have dropped below the magic £1200 mark at which one can reasonably anticipate bagging one after waving a grand in cash under the owner’s nose.
Dirt-cheap E39s have been around for a couple of years, early versions are approaching their 13th birthdays after all, but until recently they tended to be the dodgiest of the dodgy – cars with visible damage, starship mileages or with the strong possibility of being stolen non-recovered.
Suddenly there are seemingly dozens of decent-looking ones out there for a ‘trader’s thousand’, with some even boasting full service history, a respectable number of owners and mileages in the low 100,000s.
Most of the cheapies are 520is, meaning the smooth-but-gutless 150bhp 2.0-litre straight six, but even that brings the upside of mid-30s mpg when used with appropriate respect. And, after digging a bit deeper, I found a promising-looking ’97 528i SE saloon for £1250 for anyone prepared to take a bet on its 205,000 miles.
Of course, after my recent experience with the £1000 Mercedes W124 that I ran for a story, I should really know better than to be seriously considering ploughing my hard-earned into another cheapo German exec – with these cars, the initial purchase tends to be just where the spending starts. But I’ve always regarded the E39 as the ultimate exemplar of the pre-Bangle BMW, and with prices like these I’m seriously tempted.
So go on, tell me: am I mad?
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re: BMW’s finest…for a grand
Sorry, without meaning to hog the post, back to my leggy 530i sport. The build had a feeling of solidity no Mercedes, Audi, Volkswagen, and other late BMW's for that matter I've ever had (and there have been a few) could match. Even the leather on the drivers seat remained taught, fairly crack free and as pungent as it should. No doubt its a seminal car.
re: BMW’s finest…for a grand
I ran a 2001 E39 530i Sport Auto which I bought off my brother in law with 175,000 miles on it and a maintenance file as thick as the yellow pages for £4,000. Whilst it ran beautifully and the engine positively surged to the red line with a gorgeous howl and the gearbox snapped through the gears with the aftermarket SMG wheel and flippers I was in constant fear of the big bill. I was saved the elusive bill (which my brother was not!) in the 6,000 miles I used it for but the niggles where frequent. Most frustrating was the battery draining overnight, every night that was eventually traced to a faulty hedgehog (look it up). I sold it for what I paid to a colleague who kept it for another 6 months then sold on again for £3000 with 185,000K to a chap in an old A8 who was intent on exporting to to Lithuania!
So, if you've got the nerve, why not?
re: BMW’s finest…for a grand
I purchased the gutless one 3 months back but could not be happier as it still goes pretty well, although it is my first BMW so can't compare with others. Spent a bit more than £1,000 but it was from the trade with a full service history, pristine inside and out and with rather natty alloys.
Had to do it on a bit of a budget so the 520 made sense and getting 32-33 MPG, plus cheaper insurance. It really is a fantastic family car, hopefully will not cost to much to run and a joy to have on the driveway.