When BMW launched the current M5 in 2005, the only thing faster than the 507bhp sports saloon was the wave of customers rushing to showrooms to snap up one of the V10-powered machines. One BMW dealer was quoting customers a waiting list of seven years for delivery.

Today, three years after its launch, the waiting list has evaporated and early examples fetch more than £20,000 less than they cost when new. From £39,000 in the Approved Used BMW network, the most thrilling example of the ultimate driving machine now costs the same as a new, top spec BMW 335d coupé. Gets you thinking, doesn’t it.

Weighing in at a hefty £62,000 when new, the steep cost ensured owners had deep pockets. As a consequence, the majority of M5s should have received unqualified tender loving care, which means used buyers can expect a complete and verifiable BMW service history. And with some cars less than three years old still enjoying the reassurance of the manufacturer’s warranty, plus the option to extend that when buying from an approved BMW dealer, the risks of running such a high-perform-ance car are minimised.

When BMW launched the original M5 in the UK in the mid1980s, its straight-six motor developed 286bhp. Today’s M5 is powered by a naturally aspirated 5 litre V10 engine producing close to twice that figure, 507bhp. Which means the 4,034lb saloon can hit 60mph from standstill in just 4.7sec. Even more impressive, it can reach a top speed of 205mph.

The key to the V10 engine’s attraction lies in its dual nature. It combines crushing performance with almost total tractability. The seven-speed automated-manual gearbox allows M5 drivers to commute in traffic with no more effort than a 530d owner, but when the mood takes them, the car will perform with the urgency of a supercar. The engine’s intelligent electronics help make this split personality a success. Left to its own devices, the engine produces “just” 400bhp, but activation of the “power” mode via a button next to the gearlever liberates the full 507bhp.

This is an extraordinary amount of power, although some owners claim the V10 engine has lost some of the low-down potency of the previous V8. But the predecessor certainly couldn’t rev like the V10, which redlines at 8250rpm.

Jump into an M5, pull away and you’ll find its electronics defaulted to a day-to-day driving mode, with traction control, suspension and throttle responses carefully managed to soothe rather than shock the driver. However, inquisitive drivers will soon find these and other settings can be changed to suit their taste.

For the transmission alone there are 11 different shift patterns, including a launch-control setting that sees you off the line like Robert Kubica, BMW’s Formula One star. Fine-tuning the M5’s numerous settings can be a time-consum-ing job, but once done, they can be stored and easily accessed again.

When launched, BMW’s M5 was unquestionably one of the greatest performance cars on the road. Today it’s also something it never was from new – quite affordable. There may never be a better time to try it for yourself.

CHECK THE FOLLOWING

BOOT SPACE 500 litres and a split-fold rear seat mean the M5 is practical too

BRAKES Twin-piston callipers and cross-drilled, vented discs, but keen driving sees pads and discs eaten with some regularity

HEAD-UP DISPLAY Projected onto the windscreen, it can display navigational directions, revs, speed and gear

OPTIONS Well specified as standard but costly options add very little to used value

SATELLITE NAVIGATION Standard-fit iDrive not the easiest to use but buyers have no other option

SERVICING Be very suspicious if it isn’t complete and backed by receipts

SUSPENSION Electronically controlled dampers set via the iDrive system

WHEELS AND TYRES Standard 19in rims are costly to refurbish if damaged. The M5’s surprisingly supple ride is due to it not using run-flat tyres of other 5-series models

VITAL STATISTICS

MODEL BMW M5 saloon

ENGINE 4999cc, 10 cylinders

POWER 507bhp

TRANSMISSION Seven-speed semi-auto

FUEL 19.1mpg (combined) CO2 357g/km

ACCELERATION 0-62mph: 4.7sec

TOP SPEED 155mph (limited)

COST NEW £65,890

TAX BAND G (£400 for 12 months)*

VALUES

MILEAGE

10,000 20,000 40,000

2005 (05)
Trade £38,700 £36,800 £33,100

Retail £44,750 £42,750 £39,000

2006 (06)
Trade £43,200 £41,100 £37,100

Retail £49,250 £47,250 £43,000

2007 (07)
Trade £48,100 £45,700 £41,200

Retail £54,500 £52,000 £47,750

THE ONE TO BUY

2005 05-registration BMW M5 saloon with 40,000 miles and a full BMW service history. Pay £39,000 at a BMW dealer or £37,500 privately

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