BMW M5 (E34) – Calling All Q-Cars

Time has dulled the impact of this M5, but it's still a rapid and capable saloon

The E34 generation of BMW’s M5 offered a desirable blend of performance, refinement and handling. Under the bonnet sat an eager 3.5-litre straight six that delivered 315bhp and 266lb-ft to the rear wheels via a slick five-speed manual gearbox. With its classic status rapidly developing and prices rising, now’s the time to get into an E34 M5.

Right-hand-drive versions of the hand-built M5 arrived in February 1990. Replacing the E28 M5, the E34 was notably more advanced and refined. Despite a 1670kg kerb weight, the M5 could hit 62mph in 6.3sec and muscle on to a governed 155mph. Other changes from conventional 5-series spec included stiffer and 20mm shorter springs, uprated anti-roll bars and specially tuned dampers. The brakes, wheels and tires were bigger, while cosmetic differences included M5-specific lower body panels and a unique instrument cluster.

The Autoglass man inspects the stone chips on the screen

As with the standard E34, M5 buyers get a practical saloon with a large boot and a spacious, refined cabin. Creature comforts include air-con and electrically adjustable seats, making the M5 an eminently usable car. A 90-litre fuel tank is standard, too, granting a decent cruising range, and ease of use is further reinforced by great reliability and excellent build quality.

XKR-S and Bowler EXR S share an engine and gearbox

Limited Edition models came with special trim

The M5’s S38 B36 engine was a development of the B35 unit found in the E28 M5 and M635 CSi. It was larger, displacing 3535cc instead of 3453cc, and featured changes to the intake and exhaust to boost power. It’s known for being a dependable unit, with a chain-driven camshaft and Teutonic engineering ensuring a long-lasting life if cared for. Listen for a rattle at start­up which can indicate a worn timing chain tensioner - it’s a relatively easy fix - and ensure that the Valve train is quiet. If not, the valve clearances could be out, which requires a costly and time-consuming re-shimming. Inspect the cooling system, too, as the viscous fan coupling, radiator, thermostat and water pump will be getting on and could fail. Oil seals can also fail with age, so check the oil level regularly.

The M5’s cabin is spacious and comfortable

In 1992 the 3795cc S38 B38 engine became available. Power climbed to 340bhp and torque rose to 300lb-ft, with the 0-62mph time dropping to 5.9sec. These 3.8 models, which overlapped with the 3.5s for a time, also come with an impressive Electronic Damper Control (EDC) system that needs comprehensive checking, as repairing it can cost well in to four figures. All M5s are fitted with a limited-slip differential and hydraulic self-leveling rear suspension. This ‘SLS’ system can be troublesome; replacement dampers are expensive but re-buildable.

Nurburging Pack cars get upgraded steering, thicker anti-roll bars, wider rear wheels and a mode switch for the EDC system. This pack was discontinued in May ’94, as most parts became standard fit, but the upgraded Servotronic steering remained optional. Post-May ’94 cars also got a six-speed Getrag manual gearbox, more powerful front brakes with floating discs, a larger front grille and the EDC switch. Both EDC and SLS dampers can be replaced with conventional items, but doing it properly can be costly.

As a last hurrah, a UK-spec Limited Edition version commemorated the end of right-hand-drive M5 production. These cars got blacked-out ‘Shadow line’ trim, a three-spoke steering wheel, a numbered interior plaque and beige or mint extended leather interiors, with wood trim. Production of the E34 M5 finally ended in July 1995.

Usable M5s cost around $7,500 today, but you need to buy carefully. Low-mileage 3.8s are the most desirable, but don’t overlook the 3.5s, as they deliver a similar experience and cost less to run. A good 3.8 will set you back $9,000 to $12,000; immaculate examples can cost up to $22,500.

There aren’t many hand-built super-­saloons around for this kind of money, though, and the M5’s superb engine lends it a sense of occasion from the moment you turn the key.

The M5 is reliable and very well screwed together

Wheels, tyres and bodywork

Rust can be an issue, so look underneath to avoid any unpleasant surprises. The bumper rubbing strips are easily marked, but new ones only cost around $23. Make sure all the standard alloy wheel covers are present as replacements aren’t cheap.

Brakes

The BMW’s large brakes are powerful and last well. Check for any vibration during braking, which could indicate warped discs - a potential sign of hard use. Replacement parts aren’t costly, fortunately. Late-model 3.8s have bigger floating front discs.

Chassis

Worn suspension and steering parts tend to afflict most M5s. Uneven tyre wear and a poor ride can point to duff ball joints or bushes. The steering box can also suffer from wear, and EDC and SLS suspension systems can be problematic.

Transmission

Expect few problems with the M5’s transmission. Both the five and six- speed gearboxes are tough, but any odd noises, or difficulty engaging gears, could indicate abuse. The clutch action should be smooth and easy to operate.

Cabin

The M5’s build quality was exceptional and a good example should appear relatively unmarked; excessive wear could point to the car being clocked or neglected. Do ensure the air-con works, as repairing it could involve a lot more than a simple re-gas.

Engine

The M5’s six-cylinder engines are durable and capable of covering high mileages, as long as they get some care and attention. Check for rattles from the top or front end, however, which could indicate timing chain tensioner or Valve train issues.

What to look out for

A temperature gauge that creeps upwards in traffic could point to a failed viscous fan coupling. Replacing it is a relatively quick and easy task. The new part costs $205.

Some people try to pass off a 3.6 as a 3.8. Besides different rocker covers, the 3.8-litre engines don’t have a distributor and instead uses coil-per-plug ignition. This should help clarify what you’re looking at.

Don't be put off by high-mileage examples. The M5 can cover great distances with ease, provided it’s well maintained. BMW can check and supply the car's main dealer and recall history if necessary.

Routine servicing isn’t particularly involved or complicated, but many overlook the ancillary belt. It only costs $18 and ensuring that it’s in good order will prevent an easily avoided breakdown.

Many M5s have fallen into disrepair or poor ownership. Be wary of these cars, as returning them to a good, usable condition can prove cripplingly expensive and time consuming.

What we said then

M division’s new take on the 5-series delivers a stunningly well rounded performance saloon

Design and engineering

Motorsport boss Thomas Ammerschlager’s brief was to plant the thrill of the old car in a more sophisticated and civilized container. The new M5 consequently gets a more powerful 3.5-litre six, uprated suspension, bigger brakes, a self-leveling rear axle and a limited-slip differential, all wrapped in a subtle styling package.

Interior

Swing open the heavily damped door and it’s a low-key sight that greets you. The ambience is rather clinical but BMW’s superbly shaped and supportive seats do more than pass muster. The most important thing is that the driving environment is close to flawless.

Performance

Fire up the M5 and there’s no mistaking the car’s motorsport heritage. Given its head, and a healthy clutch, the M5 simply storms off the line and keeps you pinned to the seat. It delivers a devastating kick out of second-gear hairpins and revs eagerly all the way to the 7200rpm ignition cut-out.

Ride and handling

That the new M5 has a roundly better chassis than its predecessor is beyond dispute. Its ride is so unreasonably good and it gives nothing away to the old car for control. For on-the-limit poise and stability, the new M5 leaves the old car back in the Dark Ages.

Buying and owning

The M5 is, in essence, a 535i with an M1 lump under the bonnet. Be in no doubt, the M5 is better. It’s sharper, more responsive and faster, and preserves the one quality for which the M5 is best appreciated: its Q-car understatement.

Verdict

The new M5 is the most impressive piece of road-going machinery yet to emerge from BMW’s M division and it’s a class apart from its rivals.