1988 BMW M5

The BMW E28 M5 was in production from 1984 until 1988. Styled in house by Claus Luthe, it is a front-engine, rear wheel drive saloon seating five adults.

The E28 was the first generation of BMW M5, and used a derivative of the M88 engine tuned for high performance – the M88/3. This was coupled to a five speed manual gearbox. It’s important to note that American specification cars used a different engine, the S88, with 256bhp instead of the European 282. This means that as well as being worth less in Britain for being left hand drive, any US import should be devalued by approximately 10% to acknowledge the power deficit. M5s were always built by BMW Motorsport, rather than on the standard production line – in Munich until summer 1986, and in Garching thereafter. A total of 2241 M5s were built, making it one of the rarest M cars of all time.

You’ll be surprised by the body roll if you try to compare it to the current M5, but don’t let that put you off – this was the 1980s. The steering can feel numb at first, and the brakes a little wooden. But to drive the car normally is to miss the point. Rev it out past 3000rpm and it comes alive, starting to shrink around you and feel more like its E30 sibling. The suspension feels compliant yet direct, and the steering – if measured – is precise. Unlike modern supersaloons, it doesn’t snap at you, any breaking of traction is progressive, and you can bring it back into shape almost before you lose it in the first place. Nowadays it’s fun. In context, it was phenomenal.

Check the footwells and boot floor for rot, as well as the front and rear screen frames. The edge of the bonnet and the air intake scoops are also susceptible to corrosion. Sills are a special weak link, they can go around all four jacking points, and the back of the sill adjacent to the axle beam is a notorious trouble spot. Sorting the sill at the back can involve dropping the axle, as well as complicated and expensive welding. From 1986 the M535i bodykit became optional, and many cars were so fitted – this can be harder than the standard bumpers to source if damaged. Check also the timing chain, because in its wisdom BMW specified a simplex chain and when these stretch or snap they can cause untold damage. This was a curious decision given that earlier variants of the engine were fitted with duplex chains. Gearchanges can feel sloppy – it’s a worn shift knuckle and can be rectified. Finally, check that all the electrics work.

It’s better to buy on condition than on specification with this, and indeed any E28. However, if you’re buying for resale, it’s important to note that tasteful metallics will sell better than Cinnabar red or white. That, however, means bargains are to be had in these colours if you intend to keep the car long term. While modifications often devalue cars, it’s worth noting that imperial wheels are a very sensible upgrade given how few metric tyres are currently being remanufactured, and provided they’re in keeping with the vehicle in terms of size and style they shouldn’t devalue an otherwise good car.

The Mercedes AMG Hammer would be an interesting alternative, and while the TWR Jaguarsport XJR was a newer model it’s equally tempting as a classic buy. If you want the style and don’t need the speed, consider the M535i – which offers far better value for money – or the Alpina B10 3.5 litre might offer a different kind of performance thrill in the same shell. If you’re after a yuppie icon, it might be worth considering the Porsche 924 Turbo or 944, though with both cars you’d sacrifice the practicality of the four door BMW. Finally, the Rover SD1 Vitesse delivers similar brute appeal with an additional injection of style.