500hp V10, 200+ mph,and flappy paddle 6 speed for $30k.

"LuczOr" (LuczOr) 08/16/2013 at 17:01 • Filed to: BMW M5

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The 2006-2007 E60 BMW M5. This car is my biggest crush right now. It packs supercar numbers in a sedan package for a price that I can afford right now. This car was a monster when it came out and very few cars have come close to it since. Obviously, I am talking about used versions of this beast with around 70k miles. Pretty low mileage, right? Everything seems to point right the the conclusion "buy this car right now," but this kind of performance at $30k is a double edged sword. $30k says two things to me: "look what you can get for the price of a Toyota Avalon," and "guess what's wrong with me."

So what am I really getting for the price of an Avalon? Really, this car is all about the engine. A 5.0L V10. A naturally aspirated engine that makes 100hp/liter while revving to 8250 rpm. This thing hauls like a rocket and howls like a banshee (especially with aftermarket exhaust). Couple that to a fast shifting 6 speed SMG sending all the power to the rear wheels with perfect 50/50 weight distribution and you have one of the best hoon-mobiles ever to come straight from an OEM. But it's more than that. It's a gentleman's car wrapped in leather and stitched up with soft touch materials. It has selectable transmission options so you can optimize it for comfort. Unclick the ///M button and you can smooth out all the sharp edges for a comfortable ride.

So why is it only $30k? Exactly why you expect it to be. Reliability. You see, an E60 M5 with 70k miles is considered "high mileage," and I don't understand why. Let me clarify by saying that I understand what does go wrong with them and it's a terrible laundry list including Vanos Actuators, Throttle Actuators (there are 10), SMG pump for the transmission, throw out bearing and sleeves, ROD BEARINGS (yes, after only 70k) not to mention regular maintenance such as spark plugs and filters and whatnot, which is all outrageously more expensive than normal cars. What I really don't understand is why this car was not designed to be more reliable. I'm sure there will be plenty of people who say that it's basically a race engine in a sedan, but I think that is just a bunch of excuses. Honda's S2000 puts out more horsepower per liter and revs even higher. Not to mention that hey made 20,000 examples of the E60 M5. It's not some limited production supercar or low volume specialty, it's the M5. The E39, E34 and E28 are well regarded as bulletproof with many examples running through 150k+ miles without such maintenance requirements so you would think that the successor would keep to that tradition.

But I still can't back down from this car. I have always done all my own maintenance on my own cars. Actually, I have never taken a car to a shop for anything. Period. It would be the same way with the M5 so I thought, perhaps this will make it cheaper for me to own than your typical M5 owner who I am profiling as some rich WASPy dude who can't be bothered to do his own maintenance. But this is not true because this car is operated entirely by computers, which means I would need to buy BMW specific diagnostics tools and programming software that comes at a ballpark $2600 cost. I'm not sure I am willing to pay that price just to work on ONE of my cars.

So what do you say? Would you take the dive and risk the additional cost for truly inspiring performance? Let me know in Kinja. Just some food for thought, here are some rod bearings after 84k miles:

PNWHoonigan > LuczOr 08/16/2013 at 17:04

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Wasn't there a post on here a few weeks ago saying that buying an maintenance queen from CarMax was the way to go, since their $1,800 warranty covered pretty much everything?

With that said, M5's are so damn sexy. Mmmmmmmm, V10.

moarpowerr > LuczOr 08/16/2013 at 17:06

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Do it! Seriously, I know that you may probably laugh, but YOLO. If you want it, go get it. It may only be for a little bit that you own it before you consider selling it due to high maintenance cost, but when it works, I doubt that you will be much happier than having a high-revving V10 in a sedan. Even if you own it for a short period of time, go get that monstrous V10 and see if you can tame that beast !!

Forgetful > LuczOr 08/16/2013 at 17:07

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I tried to buy an E60 but couldn't get the financing on a car of that age. Ended up in my FR-S, but the V-10 want is still strong.

Brian, The Life of > LuczOr 08/16/2013 at 17:08

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Most folks who can afford a brand new BMW are not wealthy enough to keep it after the warranty runs out.

dogisbadob > LuczOr 08/16/2013 at 17:12

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The E39 M5 requires a $7500 service every 30k, which is more than you spend over 200k for a Japanese car. I can imagine the E60 costs even more than that.

Weren't these available with a regular manual transmission as well?

For Sweden > LuczOr 08/16/2013 at 17:19

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CarMax has a few of these. Buy it with the warranty. Hoon with confidence.

J. Walter Weatherman > LuczOr 08/16/2013 at 17:20

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The biggest turnoff to me about this car is the SMG. I haven't driven the M5, but I did get a fair amount of time behind the wheel of an E46 M3 with the SMG, and dear god I despised that transmission. While driving the car hard, the transmission is just fine, but there was no such thing as driving the car gently around town. I can't imagine that its performance got any better by putting that v10 in front of it.

Jonathan Harper > LuczOr 08/16/2013 at 17:24

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"Fast shifting" and "SMG" do not belong in the same sentence. Also, it's a 7-speed.

Having driven multiple examples with in both SMG and true manual flavors, I would say don't go for the SMG. The SMG system is so finnicky, the way the clutch engages can be effected by a slightly low battery charge. Also, these cars get absolutely atrocious gas mileage. With a full tank you'll be lucky to get 200 miles out of it.

It's completely against my moral fiber as a BMW freak to try to convince someone NOT to buy an M car, but if you're looking for a bargain sports car, this isn't it.

Things to look out for on E60 M5s: steering rack failure and VANOS solenoid failure

Jonathan Harper > Forgetful 08/16/2013 at 17:25

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You made the right choice, and you've probably already saved a couple thousand dollars in gas since you got the FR-S.

Forgetful > Jonathan Harper 08/16/2013 at 17:28

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Had it just a month now, so yeah, couple grand in gas sounds about right.

SuperChargerHeaven Live in USA > For Sweden 08/16/2013 at 18:18

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CarMax. Hoon with Confidence.

Send that off to the t-shirt makers.

SuperChargerHeaven Live in USA > LuczOr 08/16/2013 at 18:19

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Did any race shops/ tuners make upgraded parts?

Blunion05 drives a pink S2000 (USER WAS BANNED FOR THIS POST) > LuczOr 08/16/2013 at 18:24

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Personally, I prefer the M6.

Andrew Daisuke > LuczOr 08/16/2013 at 18:30

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I have a '10 M5 6MT.

DO NOT BUY A 2006.

Hang out on the m5 board with us, and you'll learn everything you need to know.

LuczOr > Andrew Daisuke 08/16/2013 at 19:07

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M5 board is pretty much where I got all my info. I would get a newer one, but the price starts to go up significantly.

Andrew Daisuke > LuczOr 08/16/2013 at 20:07

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It's a slippery slope, I agree. But, I'd say hold out for an 08 at least. LCI, even better.

auto anorak > LuczOr 08/20/2013 at 03:13

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What about 400hp, V8, and a top speed that you'll never reach anyway?

Brian Tschiegg > For Sweden 08/20/2013 at 08:56

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No really. Get yourself one from Carmax. That's what that warranty is for so you can mooch off all those suckers who bought a warranty for their S2000.

magman007 > Jonathan Harper 08/20/2013 at 10:13

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To be fair, the smgIII unit on the e60 m5 was a bit of a step back. SMG II wasn't bad, but smg III was a bigger trans converted versus the unit in SMG II which caused some growing pains in the m5 and m6. That being said, its still lightning quick at what, 60ms in s6 with DSC off? Thats still fast, even compared to the early dual clutch systems.

The e60 m5 is something you should have a mortgage set aside to maintain. I would really like to see how r8 v10's behave when they get up into that mileage. Its a lambo engine after all, and they really are not designed to be driven daily like a lot of r8 customers do.

magman007 > J. Walter Weatherman 08/20/2013 at 10:19

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This is incorrect, it honestly just takes time and finesse. You know how you have to finesse a clutch? well the same goes for SMG (it shouldn't to be honest, but it does) You need to finesse the clutch in smg as well, but since there is no clutch pedal, you finesse it through the gas pedal. Really all it takes is familiarity with the car and the system, and lifting your big toe at the right time for up shifts, and a slight blip of the gas smooths out the down shifts.

You are right, you should be able to hop in, and drive smoothly, its computer controlled after all, it should be buttery smooth and better than any ham with a clutch pedal from the factory, unfortunately it was a system conceived for road cars, when race cars were just starting to really get the formula correct, so while it is far from perfect, it really can be a better alternative versus the manual, if you take the time to learn.

Inflame333 > dogisbadob 08/20/2013 at 10:42

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Yes they were, but extremely rare