Given that e30s are now getting pricey, e28s seem to still be reasonable. I know that the M5 version is legendary, but engine work can be very pricey. What about the 3.5is versions? It's got to be heavier, but perhaps the torque makes up for it? parts availability and pricing? Any track potential?
they're amazingly well built, but i have no evidence to support e28 535i's "still being reasonable". if you find one, go for it.
I'm not sure if there is much (or anything) aftermarket wise for the e28 anymore. That might limit its track potential.
OTOH people track e34s and the e28 is smaller and possibly lighter. I don't think they're as tossable though (I used to own a 528i a long time ago, and a 520i).
I have one for sale in Atlanta, an 84 "E" that needs a new engine harness. I'm pretty sure it's the engine harness. Turns over, doesn't fire. Has intermittent spark. Changed the coil, distributor, plugs, wires, ECU, crank position sensor, reference sensor (yes, i checked the flywheel, still has the notch on it for the reference sensor), ignition, column, fuse box. Just out of time, space, money and patience with it. Might have some pics of it somewhere. $500 takes it, with title. Has E46 M3 wheels on it, new front Koni's for the front, fresh paint...
EDIT: For Pic
Parts availability is good - scarce stuff is more likely to be trim pieces. A few bits occasionally remind you they were $40,000 cars in 1980s dollars. Support is very good at mye28.com.
Compared to a modern sedan, they feel pretty nimble, but they're tanks compared to e30s or e36s. M30 engines can take boost. M5 versions are holding their value ok - e34 m5s go for less (the e28 Ms were pretty much hand-built). I miss mine - decent speed without boost, felt smaller than it was, comfy, well-built and ok mileage (24-28). As a DD - would swap my e36 for one in a heartbeat.
As mentioned there are several ways to turbocharge them, TCD's kit is probably the best developed one on the market. http://www.turbochargingdynamics.com/ I've ridden in a turbo 535i and it was scary fast. There are a bunch of things you can do to normally aspirated cars as well, but you won't see huge gains.
They can be tracked, of course they are bigger and heavier than an e30 but they do pretty well. There are several options for suspension upgrades, brake upgrades are easy using factory parts from later cars.
Factory parts are still plentiful (especially considering they're 25 year old cars) but as time goes by BMW is obsoleting more and more little bits. All in all they're pretty easy to maintain.
The biggest thing in my opinion is they're built like tanks and can run nearly forever if taken care of. My M535i is at 200,000 miles and still runs very strong, I know guys who own cars with more than 400,000 miles on them.
Most of the mechanical stuff is either bulletproof or easily replaced. The two weak points I found in nine years of daily use (early 83 553i, one of the first E28s) were the plastic engine components, particular those in the cooling system, and rust. Look very carefully in the trunk, especially around the shock towers, and at the corners of the floorpan, particularly in the rear where the subframe mounts live.
They are great cars, and can go on running for a long time, but they are getting on in years now.
Also check the rear seat floor - 100% of sunroof cars fill them with water at some point when the drains block - that gets soaked into the carpet and if unchecked for years will rust. If not - it will atleast mold up and stink.
if you're willing to roll with a lesser model than the 3.5 M30, they're cheap. seems like the 535i's are all pretty pricey, or used up, or both.
not that you buy that car for drag racing, but they're low 16 second cars, for reference sake.
There's enough here to pique my interest. It galls me to see how over the course of two years people have gone from practically giving away e30s to wanting $4k for a beater. Meanwhile e28s are still quite reasonable here. The M version puts it in another category altogether. An i or is might be a nice off-the-radar choice.
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