There is not enough info in this thread for me to decide what a fair price on the car might be. As someone else stated, if the tranny is broken who knows what else is. A comprehensive PPI is what I would want. No pics?

You also don't say if you want to keep or flip it. I have driven an 88 and I thought it was a cool car in the same way my 87 911 is. A great example of the late eighties in terms of performance, looks, and ergonomics. A bit of a sleeper and satisfying in that teutonic, old school way.

Speaking only for myself, the condition of a car's body is the over-arching consideration. Visible rust strongly suggests that there is more that can't yet be seen. No visible rust doesn't guarantee anything but if it's plainly visible, it's almost always a deal breaker. The rest is primarily nuts and bolts...and money...but fixable without violating the car's integrity. YMMV.

Around 5k, and he'll laugh at you. Honestly, as much as I love the car, the trans is a serious issue, mine Was 6k 10 years ago. They are absolutely tremendous cars. If you're not concerned about time and money, by all means go for it, everyone should drive one.

A Dinan cam gear is a simple change and brightens the engine a bit. Even in stock trim and with only 260 hp or so the car feels subjectively much faster. They're delights.

Good news is the car isn't going anywhere. I'll take some pics when I can get up there again which probably won't be until the middle of March.

I have 3 options for the car:
Drive it as a daily with another transmission
Get a different transmission in it and flip it
Give it to friends who have helped me out quite a lot over the years. Not sure if his son still likes them, but a year ago at age 12 he was in love with E28s.

Fun cars and a 535i trans will work but gears are different.
They will only go up in value so I'd get it if I were you. As long as there is no rust and the motor is healthy, 10k+ rebuild cost, anything around 10-14 K is a deal. As mentioned, interiors can get expensive as well.

Having owned an 88, I can vouch for the "sprightly" feel of the car. When I bought mine, I also considered the next 2 generations of M5 and came to the conclusion that while they were faster, the 1st gen really felt more immediate. More fun and more pleasing for driving.

I guess if you were looking for a luxurious silently fast car, I would look to the later generations.

But for a car that can bring a smile to your face, this generation of M5 is pretty good.

Well worth restoring. Although I'm guessing that to maximize its collector value you would have to restore it to US factory spec. Which is kind of a blunted car for that generation. Lighter Euro bumpers and good set of headers and exhaust really liven things up.

Watch the rear self leveling suspension. If it works, great. Note that the hydraulic pump that pressurizes the system costs more than the engine under the hood! That's why so many of these cars have been "upgraded" with non self leveling rear shocks. They drive fine, but aren't factory spec.

Carl

Thanks Jay and Carl. Will have more news on this middle-end of March.

Insane, but I've been buying a selling cars for 30 years as a hobby, not really caring if I make or loose money, just for the "feel/experience". Started with the British, then Italian and ended up German 20 years ago. Solidly in my garage is an '88 M5 and 964 C4. e28 M5's are great cars. As far as transmissions, I believe only the '85 535 e28 tranny is a straight swap for the e28 M5. The only difference is the gearing for 5th. Ask me how I know!

For what its worth, I may have been a bit flip in my earlier comment regarding price. These cars have appreciated significantly recently. Good ones are becoming somewhat rare, keeping in mind that lots of these were dd's in their youth.

If you have opportunity and means, by all means don't let it pass. E28 M5's are much like aircooled 911's, they are singular in the driving sensation they provide. Something about the almost square wheelbase, the nature of the powerband, and the sheer teutonic luxury of the full leather interior make the cars very unique.

I had an '83 533i as a daily driver for a while. That car was actually a very fun car to drive. Supposedly the fastest 4 door car in the world when it came out. I can only imagine how much fun an E28 M5 is.

<iframe width="560" height="315" src="https://www.youtube.com/embed/YQKOsDi5HsU" frameborder="0" allowfullscreen></iframe>

Great video, thanks for posting. Black refrigerator on wheels...love that. An M5 is really my kind of car for many of the reasons the guy in the video listed. It's fast but understated, I like that. It's basically a hyper-sedan version of my old wagon. I can live with that. We'll see what happens.

http://forums.pelicanparts.com/uploa...1424215757.jpg

I posted this "Ode to the M5" but it's already been over 5 years so here it is again. :)

http://forums.pelicanparts.com/off-topic-discussions/524062-ode-e28-m5.html

Brings back memories, I didn't get either car, I got my 73 in 2010 instead. It just fell in my lap, had no choice.

Great thread, a very fun re-read.

awesome cars. i was considering one before i found my 930.
i think these are a hidden jewel that one day will start to go up like the 930.

the thing i dont get about BMW and the M series, other than the E30 M3, is that there is nothing body wise that makes the car stand out. at least put a mild flare like the M3 had and put some bigger rubber on it. otherwise it just looks like a 4 door family car.

These cars are/were not sold to shouty (Italian) extroverts. They were built by and for evil German introverts!!

The car sold for $12.5K last week.

Ouch. So much for not going anywhere.

Owner is a good guy, I told him I'm buying a crashed SC instead. Honestly, for the better. The SC gives me a longblock for my 76 as well as a wiring harness and oil system. Of the 2 cars, the 76 backdate is money better poured into. Now all I need is a front latch panel to weld in and about 200 hours of time.

http://forums.pelicanparts.com/uploa...1427761441.jpg