BMW 540i (E39)
Four decades separate the oldest of these saloons from the youngest, and there’s £40,000 between the cheapest and the most expensive. What unites them is their V8 power. Smoother than a four-cylinder and less prone to torsional vibration than a six thanks to a shorter crankshaft, the V8 offers an enticing blend of refinement and power – backed up by a burbling soundtrack that’s as distinctive as it is emotive.
What’s particularly enticing is the other connection between the Bentley S2, Daimler 2½-litre V8, Rover P5B, Mercedes-benz W116 and BMW E39 – they’re currently tracking behind their sector of the market. But which one offers the best blend of V8 thrust, cossetting comfort and painless ownership in relation to outlay? We’ve brought a fine example of each one to a test track in Surrey: let’s fire them up and find out. I’m starting with the BMW E39 540i, the newest but also the most affordable of our bunch of five. With the M5 of the same generation long-since losing its bargain status, this is where the real value lies. Its hefty door opens onto a dark cabin, livened up by a ring of polished wood extending across the dashboard and onto the doors. The leather seat is well shaped, the driving position ideal, and the sculpted leather-rim steering wheel feels so good in my hands I could swear it had been made to measure. The speedo and tacho behind it are a model of crisp white-on-black clarity, and everything from the central handbrake and wood-clad transmission shifter to the wiper stalks and window switches operate with the kind of finely-damped precision that could only originate in Germany.
It’s an interior that any driver of the previous E34 5 Series would have felt comfortable with when the E39 arrived on the scene in 1995. The engine range looked familiar too, but in fact the V8 was the new M62 unit, re-engineered from the M60 and expanded to 4.4 litres. I twist the ignition key, and after the chatter of the starter motor the V8 settles to an almost inaudible idle. The 540i makes serene progress at low speeds, with a silky ride and barely a murmur of mechanical disturbance, particularly when paired with the smooth, unobtrusive five-speed auto, as this example and most V8s were.
Press on and the V8 emits a restrained, cultured growl as the tacho needle heads for 6000rpm – this car has had its rear silencer removed so it’s more vocal than most 540s – but even at motorway speeds there’s no need to shout to your passenger. It’s stable at a cruise, and equally composed on a twisty road where it changes direction more keenly than the old E34, despite recirculating-ball steering that’s slower than both the rack-and-pinion set-up of the lesser-cylindered E39s, and the Servotronic recirculating-ball mechanism in the M5. The bodyshell is stiffer than the old car’s, giving the new aluminum-intensive suspension the best chance to work to its optimum efficiency. Its great trick is to be able to cosset passengers while still offering a rewarding driving experience.
It’s an appealing package, and one that comes without the spectre of any major problems – though there are numerous smaller niggles that can add up in cost and inconvenience over time. The all-alloy V8 is linerless like its predecessor, but shared none of the
‘The E39 540i makes serene progress at low speeds, with a silky ride and barely a murmur of mechanical disturbance’
earlier M60 engine’s problems with bore wear. It can suffer from overheating because of a failed water pump, and increasingly as these engines age they show coolant loss through perished hoses or failing radiators. Rough idling can be down to a dirty idle control valve, which is easily cleaned. From 1998 the engine gained VANOS variable intake valve timing, which improved mid-range torque. Worn suspension rubbers or rear subframe bushes can cause clonking noises, a poor ride and inconsistent handling on highmileage cars. The LCD odometer can fail and costs £500 to replace.
Sport models – which boast a revised bodykit, sports seats and stiffer, lower suspension – command a slight premium over SES, and the rare manual V8s are sought after. Tatty high-mileage 535i V8 models can be found for less than £2000 while low-mileage cars with good histories can make £8000. A low-mileage 540i will probably be £7000-£10,000. Considering the quality and all-round competence that buys you, it’s a thumping great bargain.