10k: 1988 BMW M5 E28

From Nov. 20 2012: We are going to continue pushing the formula of depreciated BMW hot-rod sedans because of BMWs steadfast adherence to rear wheel drive, limited slip differentials and shift-your-own-gears.  We’ve featured the E28 M5 before and we will continue as long as they stay reasonably priced.  This 1988 BMW M5 looks to be in great shape and is for sale in Sacramento, CA for $11,995.

Market Watch Update, Mar. 22 2013: This car remains for sale over four months later from the same dealer, who is now asking $9995 for the car. We think there could be room for further negotiation considering how long this has been on the market. Find it here on the Luxury Motorcars website.

We don’t typically like to buy cars from two-bit used car dealers, typically because they will tell you all kinds of adjective laced things phrases like: “This sure looks like a one-owner car to me”, “no crashes as far as we can tell” and “super reliable…for the 4 times we’ve driven it.”  Regardless, the original schwartz black paint looks great and all e28 M5s were black – thankfully the only feature it shares with the Model T.

The e28 M5 is powered by a 3.5 liter inline6 – the S38B35 – which in USA spec put out 256 horsepower into a 5 speed manual transmission.  Even by modern standards the E28 M5 is a decently quick car and should keep the driver in ear-to-ear grin on a regular basis.

The inside of this E28 looks to be in good shape – but not perfect.  Most of the non-M parts would be easy to obtain from a junkyard or basic E28 donor car – but the M specific parts (seats, steering wheel, etc) will be difficult if not impossible to find.

The E28 M5 is a rare car even by ///M standards as a total of just over 2000 units were produced for just one year.  Today the e28 is still a value and hasn’t budged much in price as the E30 M3s have skyrocketed in the past 10 years – but don’t expect that trend to last forever.  If this car is as nice as the photos, it looks to be a great deal.

See another ///M for sale? email us here:  tips@dailyturismo.com