Piston Slap: E39 Perfection or Unloved Lockstep Leasing?

by Sajeev Mehta

Published: May 11th, 2015

piston slap e39 perfection or unloved lockstep leasing

Except Invincibility! (photo courtesy: coloribus.com)

TTAC commentator nutbags writes:

Hi Sajeev,

I have been a long time reader and occasional commenter and thought I might write in for once. How many other readers have experienced this? I know you have Panther love in your system for many good reasons. Have you experienced this? Does this detract from the love?

Now for the real question: I am a middle-aged guy with a wife and two teenaged kids. Recently the owner of my company, who knows my love of most things automotive and has been paying my auto lease (provided I keep the payment below about $350/month) for about 18 years, gave me a proposition.

He stated that I could lease another new vehicle with the same dollar limit or buy a used vehicle with a limit of about $15,000. The one catch is the used car has to last about 5 years and be my daily driver; I’m not sure why but that is his stipulation. My leases during this time have been some decent rides (’00 Passat 1.8T 5MT, ’03 Accord SE-L 5MT, ’06 Accord V6 6MT, and currently ’12 GLI 6MT) but now it is time for my next vehicle.

The only used car that really interests me is the E39 BMW 5-series. Decent ones seem well within the budget, but would this car make it the 5 years without a huge outlay of cash to keep it running? Or should I just stick to leasing new? New considerations are: GTI, GLI, Focus ST, Mazda3 (5-door), or Mazda6. All can be had with a manual transmission and all have received good reviews. So what are your thoughts, B&B?

Thanks and keep up the great work,

Nutbags

Sajeev answers:

First question: That link refers to the 3V motors, which were never installed in Panthers due to Ford’s insistence on letting this platform rot in neglect. I changed spark plugs on 2V 4.6’s that supposedly strip out their threads, but I didn’t screw them up. My trusted, local wrench agrees, suggesting the motors were “unforgiving to sloppy labor” instead of being a guaranteed fail. I’m changing the plugs in my father’s 2006 Town Car this week, so I’ll report back if I screw it up this time.

Second: you got some nerve to even consider an E39 as a daily for the next 5 years. Job security and any needy 15-ish year old premium car is a contradiction, considering repair costs, service complexity and availability of E39 parts. Because this isn’t even a 2000 Lexus ES, much less a new one.

Granted the E39 (M5 or 540i 6-spd Sport Package) is one of the few sedans from the last 20 years I’d love to own AND look respectable; mostly because a used Panther won’t pass muster with friends, co-workers/customers and random judgmental onlookers. Well, except for the Mercury Marauder.

Whatever: start test driving the future leased vehicle of your dreams. I reckon you’ll get either the GLI or the Mazda6.

They are E39-ish. They will do. Go have fun!

Send your queries to sajeev@thetruthaboutcars.com. Spare no details and ask for a speedy resolution if you’re in a hurry…but be realistic, and use your make/model specific forums instead of TTAC for more timely advice.

#BMW #E39 #Lease #NewCar #Panther #PantherLove #SparkPlug #UsedCar

Sajeev Mehta

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2 of 103 comments

Stumpaster on May 12, 2015

I want the complete story. What is it that you do that keeps you on this job? $350 today is not $350 18 years ago. So you are effectively losing your benefits year over year for the last 18 years. Worse yet, now the owner is trying to "trick" you into agreeing to a $250 monthly outlay, which is what $15K/5 years means. Worse yet, whereas a leased car may need an oil change or two and maybe a set of tires, he now wants you to bear the burden of fixing a shitbox for 5 years, all the while not missing work because your car broke down. You are probably a rep of some sort doing rounds in this car, so putting decent miles on it. The owner is trying to stiff you, if my message is not yet clear.

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28-Cars-Later on May 15, 2015

MY10-12 Lincoln MK Zephyr can be had for around 15 clean, pay any difference from your own pocket and ditch E39 ideas.

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