Why Is This 13-Year Old BMW M5 Worth More Than A Brand New One?

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Prices of "vintage" BMW M cars are getting out of hand.

We saw it coming. That imminent surge in old BMW M car prices we recently talked about has happened. There's an E30 M3 Evo that's going to auction that could fetch as much as $140,000. While this number is astronomical, it wasn't unexpected for such a rare, vintage BMW M car. What may surprise you is the effect that the E30 has had on much newer M cars. With BMW constantly hinting that the next M5 could have a hybrid system or rear-biased AWD, people are clamoring to buy the pure, old M cars.

The E39 M5 may go down in history as one of the greatest sport sedans ever built. However, this doesn't mean that you can't currently buy one for a reasonable price. The E39 made our list of 400 horsepower cars that you could buy for less than $20,000, but you better hurry if you want to get one at that price. While there are plenty of E39 M5 examples out there for less than $20k, they're starting to become much harder to find, and pristine examples are starting to reach insane prices. We found a mint condition 2003 model (the last year built) with just 8,563 miles on the odometer. The car is basically new, and currently offered for sale by Enthusiast Auto Group in Cincinnati, Ohio.

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Enthusiast Auto Group is known for selling some of the best condition M cars on the planet, although the prices certainly reflect that. This E39 M5 has an asking price of $99,990, which is more than the MSRP on a brand-new 2016 M5. The new M5 may come with a 560-hp 4.4-liter twin-turbo V8 compared to the E39's 394 hp 4.9-liter naturally aspirated V8, but the E39 has something very special that the new F10 does not have, appreciation. The new F10 may cost around six-figures to buy new, but it will almost certainly be worth half that in four or five years. The E39 on the other hand will continue to be worth more as the years go on. We see the E39 as a warning sign for anyone who is considering buying an old M car.

We're going to make a bold prediction that your money will be safe (in the long term) with almost any old M car that you purchase. Not every M car that you can afford will have the same collector value as this pristine E39 M5, but most old M cars will have some collectibility that will allow them to keep their value for a very long time. Even the E36 M3, which was produced in very high numbers and wasn't really known for being one of the best M cars ever built has started to creep out of its affordable price range. If you're deciding between one of the newest M cars or one of these well-kept collector cars, we suggest you walk right out of that BMW showroom and over to Enthusiast Auto Group.

In addition to the pristine E39 M5 that we showed you, this dealership also has several Z8s, E30 M3s, E36 Lightweights, M Coupes, and almost any other rare BMW that you can think of. That E39 M5 for almost $100,000 isn't even the only amazing E39 M5 that they have. There are plenty of examples in the $50,000 to $60,000 bracket that still have a ridiculously low average of around 30,000 miles. That means you could afford a collector quality E39 M5 for around the same price as a new M2, M3 or M4. For us, the decision would be easy. Buy the appreciating old car, not the depreciating new one.

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