1997 BMW 540I

Of all the long-term test cars we've ever had, only two made us misty-eyed when they were returned: our speed-yellow '95 Porsche 911 Carrera 4 and this jet-black '97 BMW 540i manual. But the empty void we felt as each of these cars left our garage wasn't merely because we instantly missed the power and prestige such German machines deliver. It was something more, something deeper. At the risk of sounding maudlin, these cars have soul.

The redesign of BMW's 5 Series in '97 sharpened the midsize Bimmer's focus. With its new tauter platform, upscale styling, improved all-around performance, increased safety features, and larger and more supple interior, the 5 Series instantly became the quintessential sport/luxury sedan. It was also the hands-down winner of our '97 Import Car of the Year award.

That the 5 Series continues to sell exceptionally well in its third model year of production (essentially unchanged, except for the addition of a sport wagon version) is testimony to the excellence of design throughout the vehicle. But the 5 Series lineup also delivers a strong value statement, with the six-cylinder-powered 528i basing at $39,470 and the powerful V-8 540i beginning at $52,350. And interesting fact, culled from our survey of new 5 Series owners, was that 80 percent of those people bought, as opposed to leased, their 528s and 540s. That's far higher than the typical 50/50 buy/lease percentage split of other luxury marques and may suggest that 5 Series drivers want to keep their cars for a longer period of time than the typical lease term.

Both the 528i and 540i come with an impressive list of standard equipment that includes dual-zone automatic climate control with micro-filtration, 10-speaker AM/FM/cassette sound system, 10-way power adjustable front seats, power sunroof, trip computer, power tilt/telescoping steering wheel, cruise control, and keyless remote entry with security system. Also on the docket is BMW's excellent All-Season traction control.

Choosing the 540i nets front-passenger side-impact airbags and a glass moonroof at no extra charge. In options, we ordered the heated front seats and steering wheel package, as well as folding rear seatbacks to expand the vehicle's cargo-carrying abilities (seats folded, it's like a mini-SUV; we once carried four 17-inch tires and four loose wheels with room to spare). We also opted for the 16-way power adjustable Comfort Seats with articulated backrests that proved on numerous long journeys to be the best seats in any car, regardless of price. The rest of the options list is brief, with only metallic paint, the Sport package, power rear sunshade, and premium sound system with CD changer remaining to be selected.

Our long-term test 540i wore sultry black inside and out, and was outfitted in full Sport regalia including the outstanding Getrag six-speed manual gearbox. The Sport package (now also offered with a five-speed automatic) is a must-have for any true enthusiast and delivers M-Technic tuned suspension components (20-millimeter-shorter springs, larger-diameter anti-roll bars, and tauter shock valving), as well as 235/45ZR17 Dunlop radials on stunning 17x8.0-inch seven-spoke alloys. Bottom line, our 540i carried an as-tested tally of $58,145.

The average purchase price, as reported by our survey respondents, was $52,199. Monthly payments averaged $748, but 36 percent of owners said they paid all cash instead of financing or leasing. The average age of the 5 Series principal driver in a household was reported to be 48.1 years for 528i owners and just 45.2 years for 540i pilots. Only one person was in the 20-24 age range (lucky kid!). A whopping 96.9 percent of those surveyed stated they'd recommend the 5 Series to a friend, and an equal number said they'd definitely buy another BMW.