Trying to marry practicality and performance is one of the more difficult approaches to nail, primarily because the two elements don’t tend to mesh well together. The larger and higher a vehicle is, the worse its driving dynamics usually become. A good sports car needs to be as close to the ground and as light as possible, to reduce drag and improve handling characteristics.
Decent compromises exist, though, like a performance wagon. BMW never produced a touring version of its legendary E39 M5, but fortunately, there is a tantalizing alternative for you to consider.
The 540i Got The Same Kind Of Engine As The M5
Engine shot of an E39-generation BMW 540i sedanBring A Trailer
The wagon in question is the E39-generation BMW 540i Touring, which was produced between 1995 and 2003. The 540i was essentially the highest-end 5 Series you could get below the mighty M5, which came equipped with a near-400 horsepower S62 4.9-liter V8 engine. The 540i was geared more toward being soft and comfortable, and yet it sported a large V8 engine that provided plenty of pulling power, ensuring it stood out as a step-up in comparison to the more traditional straight-six engines found under the hood of lesser E39 trims.
The 540i Touring got an M62 V8, an engine that came from the same family as the S62 found in its more powerful sibling. The S62 was a beefed-up version of the M62, with the main changes being a double VANOS system, individual throttle bodies for each of the eight cylinders rather than just a single component, a double-row timing chain, as well as an increased compression ratio. The unit was also enlarged from 4.4 to 4.9 liters, all changes that were geared toward making the engine stronger and more potent for use in BMW’s flagship performance sedan and wagon.
The 540i thus had less power to play with than the M5, but it was far from gutless. While all examples got 282 hp, earlier cars built between 1995 and 1998 had 310 lb-ft on hand, while later September 1998-2003 specimens saw engine tweaks unleash an extra 15 lb-ft. With the extra power at your disposal, this practical wagon could launch to 60 mph in just over seconds, or just under with a six-speed in place. Like the M5, the 540i Touring sent its power to the rear wheels, though you had the option of either a six-speed manual or a five-speed auto transmission.
The 540i Also Had Excellent Underpinnings
Silver 2000 BMW 540i Touring rear endBring a Trailer
Being an E39 5 Series, the 540i was also built upon the same basic chassis as the M5 of the same vintage, which meant it was sharper and more communicative than other high-end luxury cars of the time. The 540i wasn’t anywhere near as agile as the M5 in standard form, since its suspension setup was tuned to be soft and compliant rather than sharp and communicative. Still, the MacPherson Strut front and multilink rear suspension arrangement was pretty much the same on both cars; it was just that the M5 got stiffer springs and a lower ride height, as well as beefed-up sway bars. If an M5-like driving feel is what you’re after, going for either the SE or Sport trims on the 540i affords you a suitably sporty suspension setup.
The M5 also got a limited-slip differential, which ensured it could put its power onto the road more effectively than the 540i, which only had an open differential. Still, swap the original suspension setup for stiffer springs and other hardware, and you could easily turn the 540i Touring into a car that handles somewhat similar to the M5. After all, it also had the same recirculating ball steering setup as the M5, which meant it felt similar in your hands. It must be noted that lower-end versions of the 5 Series featured a more direct and communicative rack-and-pinion steering system, although the big V8s meant this couldn’t be fitted to either the 540i or M5 due to a lack of space.
Getting A Manual 540i Can Be Tricky
Silver 2000 BMW 540i Touring frontCars and Bids
Still, with some pretty straightforward changes, the 540i could essentially be turned into a more practical and less hardcore alternative to the E39 M5. If that is the goal, tracking down a manual version of the model is the way to go, since the transmission provides a more engaging driving experience. The trouble is, since the 540i catered more to the luxury side of the market, BMW never bothered to offer the manual in the US. Instead, a total of 2,363 auto examples of the 1999-2003 specimens with the more powerful engine were sold in the States.
Therefore, to get one, you have to keep your eye on any cars that have been imported from Europe. Don’t expect to find many low-mileage cars though, primarily due to their age and the fact that, because they come in Touring form, they were used as practical family buses by their owners. Happily, even though they are exceedingly rare, that doesn’t mean they have held their value particularly well. Consider a 2000 example sold through Cars and Bids, which had covered 167,000 miles at the time of sale. In the end, the hammer fell at just $6,889.
On the other hand, a smart automatic example which was sold through Bring a Trailer ended up securing just $4,100 when it was shifted with just over 152,000 miles on the odometer. Otherwise, you could always find yourself a tidy car still located across the Atlantic. Since comparable examples can be found for similar money, you may have more luck finding one there. You will have to factor in $5,000 or so to have the car brought over, though.
A Tidy 540i Touring Is An Excellent Compromise
Silver 2000 BMW 540i Touring trunk shotBring a Trailer
Of course, buying a genuine E39 M5 remains the best way of getting the kind of performance you expect from the model. The trouble is, it was never offered as a Touring, unlike its successors. While that may be fine for enthusiasts with smaller families, those with pets or a need to transport cargo will find the sedan body style more challenging to live with. The greater load space provided by the Touring can be a lifesaver in these situations, but at the same time, you can enjoy the underpinnings and basic engine employed by its more serious sibling.
Being a high-end model, the 540i Touring also comes well-equipped. Power-adjustable and heated leather seats and classy wood trim take care of the luxury side of the coin, while automatic climate control will ensure you can travel in comfort. There’s also a sporty leather-wrapped steering wheel, while a powered moonroof affords passengers some fresh air when desired. The best bit, though, is that if you have enough cash burning a hole in your pocket, the 540i Touring is capable of a whole lot more.
BMW’s Luxury Wagon Can Be Converted Into A Car The M5 Could Have Been
Black 2003 BMW 540i Touring M5 conversion frontBring a Trailer
While the 540i shares the same underpinnings as the E39 M5, it would be unfair to expect it to handle anything like the more serious model, considering the latter’s more commanding hardware. Thanks to a whole host of upgrades, there is a way you can have your cake and eat it. It’s possible to turn a standard 540i into an E39 M5 Touring, a car that BMW declined to put into production. Due to being pretty much identical underneath, the M5’s S62 V8 and uprated suspension can be equipped, with a bit of work. To complete the experience, a limited-slip diff can also be added into the mix to provide the level of traction expected from a full-fat E39 M5.
Completing this sort of project will cost a significant amount of money, given the parts and labor involved. When all is said and done, anticipate handing over tens of thousands at the absolute least just in M5-specific parts, with the S62 and body kit commanding a significant portion of that sum. To have everything completed by a specialist to a high level will command considerable additional sums. Plus you’ll have to source a 540i Touring in the first place. Of course, you could always purchase a completed conversion.
Depending on the miles covered, doing so could cost upwards of $70k. As an example, a black 2003 conversion offered in mint condition and with 105,000 miles on the clock was sold for $72,000 through Bring a Trailer, though the project was far-reaching. Aside from the technical aspects, the Touring was also treated to most of the E39 M5’s interior fixtures, as well as wheels and a body kit sourced from the sports sedan. If that sounds a little too expensive for your tastes, higher-mileage cars, like a 163k-miler based on a 1999 540i, sold via Bring a Trailer for a more reasonable $39,500.
Unless you need the razor-sharp driving experience provided by a thoroughbred E39 M5, the manual 540i Touring equipped with the sport suspension package will likely suffice. Just bear in mind how much money you’ll be saving, and the temptation to opt for the M5 will likely fade.
Sources: BMW.
