BMW · Chassis code E39
The E39
Often called the best sedan BMW ever made, with a V8 M5 that's still the benchmark for super-sedans.
Produced
1995–2004
Body styles
Sedan · Touring
Engines
I6 · V8 · S62 V8
M5s built
~20,500
Market range
$5k–$100k+
The story
The high point of the 5 Series.
The E39 is the 5 Series many enthusiasts consider the best ever made. It was more refined than the E34 and much stiffer and better handling, with a design that still looks good today.
The six-cylinder cars are smooth and balanced, and the 540i added V8 torque. Then came the M5, the first M5 with a V8: a 4.9-liter, 394 hp engine paired only with a six-speed manual. It’s still the car that later super-sedans get compared to.
Prices have risen as people realize the E39 was a high point. Good six-cylinder cars are still cheap, but the best M5s now cost more than they did new.
Models & specs · US market
Pick your E39
| Model | Years (US) | Engine | Power | Why you'd want it | Typical price* |
|---|---|---|---|---|---|
| 528i | 1997–2000 | 2.8L M52 I6 | 190 hp | Smooth, balanced and inexpensive | ~$10,700 |
| 530i | 2001–03 | 3.0L M54 I6 | 225 hp | The best of the sixes; the sport package is the one | ~$12,400 |
| 540i | 1997–2003 | 4.4L M62 V8 | 282 hp | V8 torque; the 6-speed sport cars are the prize | ~$13,500 |
| M5 | 2000–03 | 4.9L S62 V8 | 394 hp | A manual-only V8 super-sedan; the benchmark | ~$35,600 |
*The 540i price is the manual sedan benchmark. Low-mileage, documented M5s can go far above the benchmark. As of November 2026.
Why buy one
Pros
- Superb balance of comfort, handling and build quality.
- The M5 is still one of the best-driving sedans ever made.
- Six-speed manuals were available on the 540i and standard on the M5.
- Cheap entry point for a great-driving BMW.
Think twice
Cons
- The cooling system and oil leaks need attention on every car.
- M62 V8 timing chain guides wear and are expensive to replace.
- Electrical issues: pixels, window regulators, ABS modules.
- Good M5s are getting expensive, and neglected ones can be money pits.
Buyer's guide
What to check before you buy
Cooling
Radiator, water pump, expansion tank and hoses. Many have been done; ask for records.
Engine
On V8s, listen for timing chain guide rattle and check the valve cover gaskets. On the M5, check VANOS and rod-bearing records.
Chassis
Front control-arm and thrust-arm bushings, and rear subframe bushings. Tourings may have air suspension issues.
Electrics
Instrument cluster pixels, window regulators, the radio, and the ABS/DSC module.
Market · November 2026
Where values sit
Six-cylinder cars are around $11–12k and manual 540is in the low-to-mid teens. The M5 benchmarks around $36k, and pristine, low-mileage cars sell for much more.
Sources: Classic.com. Updated quarterly.
The verdict
Buy a 540i 6-speed sport for the sweet spot, or the best M5 you can afford with records. The E39 rewards buying the good one.
Sources