For Sale

A 1988 E28 BMW M5 For Less Than $20k? We Found One But There's A Catch

Not everything in life is perfect.

Classic 1980s BMW M cars are quickly becoming hot commodities. The price of an E30 M3 has dramatically increased lately, and the same goes for its larger older brother of the same era, the E28 M5. The latter can easily sell for as much as $100,000, assuming it’s in mint condition. However, this 1988 E28 M5 has a price tag of only $19,500. Yes, it’s less than $20lk. Why’s that? According to the original ad on the Hemmings classified section, everything on the car is original and working.

In fact, its previous owner stored it in a climate controlled garage in Aspen, Colorado for the past several years. There’ve been only three previous owners in total and it was resprayed last year for $9,500. Power, of course, comes courtesy of a hand-built 3.5-liter inline-six good for around 256 horsepower. Only 1,300 examples were built. So what’s the catch here? It has a total of 190,820 miles on the clock. The ad also states there are a couple of chips in the paint, but that’s not a significant issue. Do you think there’s something else wrong with this M5 that explains the dirt cheap price? Or is this just a solid find with a lot of miles?

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