BMW M Power Comparison: E39 M5 vs E46 M3 - Two Legends in a Duel
Two Icons of M History
The early 2000s mark a high point for BMW M GmbH. With the E39 M5 (1998-2003) and E46 M3 (2000-2006), two vehicles were created that are still considered benchmarks for sports sedans and coupes today. Our comparison analyzes both legends from today’s buyer perspective.
Technical Comparison
| Feature | E39 M5 | E46 M3 |
|---|---|---|
| Engine | S62B50 V8 | S54B32 I6 |
| Displacement | 4,941 cc | 3,246 cc |
| Power | 400 hp @ 6,600 rpm | 343 hp @ 7,900 rpm |
| Torque | 500 Nm @ 3,800 rpm | 365 Nm @ 4,900 rpm |
| Transmission | 6-speed manual | 6-speed manual / SMG II |
| 0-100 km/h | 5.3 s | 5.2 s (Coupe) |
| Top Speed | 250 km/h (limited) | 250 km/h (limited) |
| Weight | 1,795 kg | 1,495 kg (Coupe) |
| Production | 1998-2003 | 2000-2006 |
| Units Produced | 20,482 | 85,766 |
Current Market Prices May 2025
E39 M5 Price Structure
| Condition | Price Range | Average |
|---|---|---|
| Concours/Collector | €55,000-75,000 | €62,000 |
| Excellent | €38,000-50,000 | €43,000 |
| Good | €28,000-38,000 | €34,989 |
| Driver | €20,000-28,000 | €24,000 |
| Project | €12,000-20,000 | €16,000 |
Current Average Price: €34,989
E46 M3 Price Structure
| Condition | Price Range | Average |
|---|---|---|
| Concours/Collector | €45,000-65,000 | €52,000 |
| Excellent | €32,000-42,000 | €36,000 |
| Good | €22,000-32,000 | €27,500 |
| Driver | €15,000-22,000 | €18,500 |
| Project | €8,000-15,000 | €11,000 |
Current Average Price Coupe: €27,500 | Convertible: €24,200
Driving Dynamics Comparison
E39 M5: The Gentleman’s Rocket
The E39 M5 combines apparent opposites: with its sedan body, it offers space for family and luggage, while the 400 hp V8 delivers sports car performance.
Strengths:
- Superior long-distance capability
- Smooth engine operation at low revs
- Explosive pull from 4,000 rpm
- Daily usability despite sports performance
Character: Reserved-sovereign to brutally fast
E46 M3: The Corner Hunter
The E46 M3 follows a different recipe: less weight, higher revs, and an even more direct driving feel make it the purer sports car.
Strengths:
- Legendary S54 engine (high-revving)
- Perfect weight distribution (50:50)
- Precise handling
- Emotional sound up to 8,000 rpm
Character: Agile, demanding, rewarding
Running Costs Analysis
| Cost Factor | E39 M5 | E46 M3 |
|---|---|---|
| Insurance (comprehensive) | €180-280/month | €150-220/month |
| Annual maintenance | €2,500-4,000 | €1,800-3,000 |
| Typical repairs | VANOS, cooling system | VANOS, rear axle bearings |
| Fuel (15,000 km/year) | €3,800 | €2,900 |
| Wear parts | High | Medium-High |
Known Weak Points
E39 M5:
- VANOS system (€3,000-5,000 repair)
- Coolant loss (thermostat, water pump)
- Differential bushings
- Timing chain tensioners (rare but expensive)
E46 M3:
- VANOS unit (€2,000-4,000)
- Rear axle bearings (subframe)
- Transmission synchronizers
- Rust on sills and wheel arches
Value Development 2020-2025
| Year | E39 M5 Average | E46 M3 Average |
|---|---|---|
| 2020 | €24,500 | €21,800 |
| 2021 | €27,200 | €23,100 |
| 2022 | €29,800 | €24,600 |
| 2023 | €31,500 | €25,400 |
| 2024 | €33,200 | €26,500 |
| 2025 | €34,989 | €27,500 |
5-Year Value Increase:
- E39 M5: +42.8%
- E46 M3: +26.1%
Buying Guide: Which M Model Suits You?
Choose the E39 M5 if you:
- Seek long-distance comfort with sports car performance
- Have a family or regularly transport passengers
- Appreciate the unique V8 character
- Prefer a rarer vehicle
- Have budget for higher running costs
Choose the E46 M3 if you:
- Prioritize maximum driving dynamics
- Drive predominantly on winding roads
- Love the high-revving inline-six
- Prefer a coupe or convertible
- Want somewhat lower operating costs
Investment Perspective
E39 M5 as Value Investment
Pro:
- Lower production numbers (20,482 units)
- Last naturally aspirated V8 M5
- Manual transmission exclusive
- Strong international demand
Con:
- High running costs
- Complex technology
- Many examples already worn out
E46 M3 as Value Investment
Pro:
- Legendary S54 engine
- Greater spare parts availability
- Broader buyer base
- CSL variant as value driver
Con:
- Higher production numbers
- SMG transmission losing popularity
- Many modified examples
Conclusion: Both Legends, Different Characters
The E39 M5 and E46 M3 represent different philosophies from the same brand. The M5 proves that a family sedan can be a supercar. The M3 shows how a compact coupe becomes a track weapon.
For collectors and enthusiasts, both models are excellent choices. The E39 M5 offers better investment potential due to its rarity, while the E46 M3 delivers the purer driving experience.
Our Recommendation: Buy the vehicle that matches your usage profile - both will continue to appreciate in value.
Price data based on our market analysis from May 2025. Find current listings on our model pages: E39 M5 | E46 M3