Piston Slap: E39 Perfection or Unloved Lockstep Leasing?

Except Invincibility! (photo courtesy: coloribus.com)

TTAC commentator nutbags writes:

Hi Sajeev,

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,

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.