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Re: '88 M5

> I'm thinking about buying a '88 M5. What are the +/- of this car?  Are
> they worth 20K and are they expensive to keep up.

This could be a long answer, as your questions are fairly general. I'll 
try to be brief and hit the highlights. Oh, before I go on, let me say 
I'm an 88 M5 owner (with the car currently for sale), so read with 
appropriate bias:

++++++:
=======
	Awesome 4 door performance; matched by few if any sedans.
		(Maybe by a 1800 TISA with missing quarter
		windows...ok, that's an inside joke)
	Rare/beautiful/handbuilt by BMW Motorsport AG
	Fairly desirable and bottomed out on resale value; you won't
		loose much resale in the future.
- ------:
=======
	Rare and hard to find in good condition.
	Some parts are expensive
	black only color - beautiful but shows all blemishes
	Awesome power and handling but questionable bargain (for daily
		driving) compared to a good 535is.


Are they worth $20k:
====================
	Yes. And no. M5's tend to mainstream between $15 and $23k 
(approximately), with particularly high mileage OR (note or) poor
quality M5's selling for $13-15k. Exceptionally low mileage cars
(under, say 30-40k miles) may sell for more.
	So yes, they can be worth 20k - it's in the reasonable zone. My 
car (yes, this is a minor plug) is going for $18k and is in very nice 
condition with 86xxx miles and some modifications and upgrades. For a
good, straight car with average mileage, expect to see sellers wanting 
$16k-20k.
	The problem with buying them is, quite simply, there are ~1000 
E28 M5's that came to the US for only one year. It's just hard to sample 
several and determine where you wish to be in the price/condition 
category. Quite frankly, from my experience, finding something under $20k 
that was in very nice shape was hard. As for more than $20k super 
condition cars, they exist but just don't pop up for sale every week (or 
month).

	From my buying experience, it took six months of heavy looking 
with help from several M5 enthusiasts (John Allen on the list and Stan 
Simm of the M Register, to name a few). I was in the $15-20k price range. 
Of the cars I physically looked at (four within 100 mile radius in 6 
months), 3 had seen body damage and paint work.

	One other point. As a car gets older, the maintenance and general 
environment that the car lived in (i.e. parked outside versus garage) 
becomes more and more important compared to mileage. For example, of 
the four cars I looked at, the one I bought has 20k miles more than the 
lowest mileage of the three, yet was in phenomenally better condition.

Expensive to maintain:
======================
	Yes on some parts, no on the normal stuff. Average maintenance 
stuff is somewhat more expensive (cap and rotor is a few bucks more, same 
with brake rotors). Clutch kit can be expensive. Wires, etc, etc. But an 
intake bellow is $12, and vertical accumulator switches are dirt cheap 
(since this stuff is generic E28 stuff). Shopping prices and knowing 
correct OEM suppliers is critical. i.e. A clutch kit varies from $300 at 
Bekkers Imports to $550 from Imparts or the local dealer; The Bekkers 
part is from Sachs, which is the OEM for the clutch. Wires are $300! From 
Beru (the OEM), NOPI sells them to you at 2/3 the price.

General wear items:
==================
	rotors warp if heavy usage. Upgrades exist, especially 750iL rotors.
	thrust rod bushings completely inadequate. Upgrades available.
	Guibo/flex disc crack (they are a wear item, IMHO) and save the
		clutch.
	Self leveling suspension wears out. I think this is a combination
		of shock leakage and lack of refilling hydraulic fluid
		reservoir (and burning up the pump).
	Cruise controls poop out due to minor things easily fixed.
	Clutch slaves gone on every car I drove.
	Leather bolsters on seats wear. Surface checking can be resprayed.
		Cracking leather is more complicated.

I hope this helps. If you have any questions, feel free to contact me. 
Lots of folks helped me find my car and make an informed decision - I'm 
happy to pass that along or connect you with someone who knows an answer 
if I don't. These are special cars and they should be enjoyed by people 
that appreciate what they are...

Cheers,

Filippo Morelli
E28 M5 (regretably for sale)
H:703-406-9314
W:703-758-0216 x2155