All of the iconic M cars are shooting so far up in value, it’s actually nauseating. If you want a well-sorted E30 M3 or E39 M5, you’re gonna have to spend close to six figures, sometimes more in special cases. It’s getting out of hand. However, that sort of money is reserved for all, or mostly, original examples without any modifications. Once you start modding these highly collectible Bimmers, they begin to lose their value, which is why this E39 M5 on Cars and Bids might just be the affordable way into the classic M car club.

This 2001 BMW M5 is a really good looking example. It’s a post-LCI facelift model, so it wears the updated headlights and taillights, but this car’s been modified to have yellow fog lights, a lowered Bilstein B14 suspension, and 18-inch VMR wheels. To make it sound better, it also has a Supersprint exhaust, which should let the 4.9-liter V8 sing even louder than before. It also has a Dinan rear swaybar, new control arm bushings, and StopTech brakes. All of those modifications make the M5 look better than stock and likely will make it more enjoyable to drive, but they do bring its value down.

Plus, it’s a far from perfect example. There’s plenty of clearcoat damage to the paint, a bit of rust bubbling in certain areas, and its fair share of wear and tear. After all, it has 146,300 miles on it. It ain’t gonna be perfect. However that imperfection does pose an interesting opportunity for young enthusiast buyers.

This E39 M5 might look ratty but it’s had quite a lot of recent service done to its most expensive part—the engine. At 130,000 miles, the rod bearings, main bearings, head gaskets, valve seals, and timing chain guides were all replaced. So the heart of the car should work well for a long time. Which means it might be worthwhile for a younger, less wealthy enthusiast to buy and, over time, fix up its more minor issues so that one day it might be a valuable classic. In a world of $100,000 E46 M3s, this seems like a refreshingly honest, relatively inexpensive M car for someone without super deep pockets.

[Source: Cars and Bids]