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What you need to do is to get out and drive one and see what you really think. You will compare the two and then you can make your mind up whether its going to be an addition or a viable alternative.
If you can afford it I would say go for it (as an addition to your E39).
You will already know the main differences between the two models but the following are a few of my own observations:
E34
Better looking (much more exclusive)
Better soundtrack (that straight six)
Hand built (will probably age better)
Becoming more expensive to service (due to age etc)
E39
Newer and more refined
TORQUE
Better tuning capability
Regardless of what many say about the E39 being MUCH quicker it isn't. Granted it is a faster, newer car but it is closer than many think. The E39 has a lot more torque from that V8 and gets the power down quicker, but the E34 can also get supersonic but needs to be driven hard. You have to learn to drive each one in a very different way. In the E34 I think you are expected to be a bit of a hooligan as it is much more raw but that is where a lot of the appeal is (for me anyway).
Comparisons are always hard to draw, as cars evolve they do get better, more powerful etc but they also lose things such as character, individuality etc so these points should be taken into account when making such a decision.
My intent is to lay up my E34 for about 12-18 months to carry out some well overdue work, starting with a respray and I'm looking for a replacement. I don't think I will ever sell her but can definitely see the possibility of E39 ownership in the not too distant future.
Good Luck whatever decision you make
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Rick
'93 Lagoon Green 3.8 (undergoing surgery)
'08 Grey 535d MSport Touring
'98 Omega 2.5 (cheaper than a set of winter tyres for the 535)
'98 Green ZX9r C1
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