Project Zeus: Why This 146K-Km BMW M5 Is the Smartest Performance Car Buy Youll Ever Make

Some of you may recall me trying my friends F10 M5 for the weekend. Well, guess what—I bought it.

No, it wasnt a spur-of-the-moment decision. The BMW M5 has been my dream car since the original E39 appeared in that Guy Ritchie/Madonna film, and definitely since the Top Gear feature on the E60—the one with the M button. I dreamed of Alfas as a child, but the M5 formed my teenage dreams.

This obsession was so thorough that I had even planned my life around BMW 5 Series product cycles. When I started work in 2008, I calculated that a new M5 would come out in 2011, 2018, and 2025. My hope was that by 2025, just on the cusp of my 39th birthday, I would have the means to buy a new BMW M5.

Two things happened instead.

First, I am not a fan of the touchscreenification, hybridisation, and general gadgetry of the modern car industry. The new G90 M5 carries a cool S$750,000 price tag in Singapore—thats Rs. 5 Crores, and no, that is not a typo. So even if I loved it, it was never going to happen.

Second, my irrational love for the E60 M5 was slowly replaced with a love for the F10. Initially I disliked the F10 when it came out in 2010—it was reviewed as heavy and less of a drivers car. But 15 years later, it suddenly seems reasonable, weight-wise, given what else is out there. Through experience, I have realised that high-revving V10 engines and single-clutch autos only make sense in car magazine fantasy land. In the real world, the torque of a turbo and the usability of a DCT are much better.

The Weekend That Changed Everything

So 2025 came and the F10 M5 was on my radar, side-lined a little by my desire to get a convertible. Coincidentally, a very old colleague friend of mine—his MK V Golf GTI was the first performance car I ever drove back in 2009—was looking to sell his M5 due to a change in life circumstances.

Turns out an M5 is great when you have two kids, but when you have three, you need something more spacious. I cant argue with that.

He asked if I was interested, but I told him I was contemplating something more like an M6 or an Alpina B4 Convertible. Nonetheless, since I make car videos for fun, he asked me to have it for the weekend and document the car. Which I did.

I gave the car back to him, but I was forever changed. An interesting confluence of heart and head was tugging away at me.

The Hard Truth About Buying Old Performance Cars

Old performance cars often look like bargains compared to new ones. The new BMW M5 is a cool $750K (Rs. 5 Crore) here. An early F10 M5 is a sliver over $100K (Rs. 65 Lakh). But what one has to always account for is the work the car will need to bring it up to top form, and the number of previous owners it has had.

This particular F10 M5 was a home run on both fronts. It had been owned for four years by my friend, who is the CEO of a large company and no boy racer. He is a BMW enthusiast—he used to own an E34 before he was transferred out of Singapore, and then he came back and got the M5. Because he is a responsible adult with financial means, the car was not only well taken care of and driven with mechanical sympathy, but also received the best possible wear and tear and preventive maintenance treatment.

My weekend with the M5 had convinced me that this was no ordinary dream. The M5 was the real thing. Completely different from a normal BMW, a sporty BMW, an M Light BMW, or even an Alpina. I have owned all four, so I have a reasonable frame of reference. It is most definitely a more special thing. And I loved it.

It struck me that while there was a fair supply of F10 M5s kicking around in Singapore, most of them had little to no history, and I knew nothing about the owners. This is sadly a car that has been favoured by unscrupulous wannabe boy racer car dealer types who can barely afford the car and road tax, who thrash it for a few months and then sell it on with false advertising.

So if I ever had to buy an M5, it had to be this one. Owned by one of my oldest petrolhead friends for four years. Everything—I mean everything—is done to it in terms of mechanical maintenance. And I knew I loved the car because I had driven it extensively over the weekend.

So yes, I made him a reasonable offer, and the deed was done.

What Is Project Zeus?

It is a 2012 F10 BMW M5 in Individual Moonstone Metallic with a Black Merino Leather Interior. Some highlights are the factory carbon fibre boot spoiler, Shadowline, sunroof, and HiFi premium stereo—basically Harmon Kardon. The colour was a $15K option when the car was new, and I will say it again: it is the perfect BMW M5 colour.

The car has been modified with some very expensive parts by the previous owner. Some are to my taste, some are less.

The Akrapovic Evolution Exhaust? Love. It transforms the car. Best sounding car I have ever driven by a mile.

The BC Forged HCA 195 Step Lip Forged Modular Wheels? Love. Pictures do not do justice. It looks black and one-dimensional in photos. In real life, it is this beautiful smoked, almost gunmetal grey and remarkably three-dimensional.

The KW V3 Coilovers? Neutral. The car has had KWs installed to provide a superior dynamic package to the M5 Competition, addressing the key complaints of the F10 M5 being boaty. I find it a touch stiff for me, and will be adjusting the setting.

The Carbon Fibre Rear Diffuser and Wing Mirrors? Love. Works incredibly well together with the Moonstone. It is the best-looking BMW F10 M5 in my eyes.

Carbon Fibre Interior Trim? Neutral. I am more of a wood guy.

Carbon Fibre Flat Bottomed Steering Wheel? Neutral. Love the flat bottom. Dislike the Alcantara. Yes, I know, I am weird.

The Maintenance Story That Sealed the Deal

This is where things get interesting. The car has done 146K km, but the engine was comprehensively rebuilt at 135K. It has all new absorbers, a new aircon, a completely serviced DCT, and a lot more. As my brother commented when he saw the list of work, everything that can be done to the car has been done.

The eagle-eyed amongst you will be counting the cost, but let me save you some time: it is more than $50K (Rs. 33 Lakh) worth of preventative maintenance and wear and tear.

Engine Rebuild – $37K: July 2024, roughly at 135K km. Rebuilt by Renown Powerhaus, a BMW M Specialist here in Singapore. Everything has been done with all original BMW parts.

New Suspension (KW V3 BMW absorbers) – $5K: July 2024, roughly at 135K km. Installed and tuned by Renown Powerhaus. The objective was to install the best aftermarket solution to provide a superior dynamic package to the M5 Competition. The setup is a touch stiff for my taste, so I will be going back to Renown to tune it.

New Aircon Compressor and Parts – $2.5K: Probably the most important maintenance item in the tropical heat of Singapore.

Others (Sensors, Solenoids, Battery, Injectors, Seals) – $10K: As my brother said, everything that needed to be done, has been done.

New Michelin PS4 Tyres – $2K: When I see Michelin PS4s on a car, I instantly like the owner. For tyres, you always go with the best. Cheap out on cosmetics if you need to, but never on tyres.

This car was essentially made mechanically new at about 135K km. It has done about 10K km since then. It feels great, but I do need to resolve some cosmetic issues.

Why “Project Zeus”?

The name is inspired by the wheel design, which does look like Zeuss (or Jupiters) thunderbolts. I will also say that the character of the car is in line. I wouldnt call my BMW G30 540i Zeus, as it doesnt quite have that gumption. This M5 has a sheer force of character that demands a larger-than-life name.

My Plans for Project Zeus

Not a lot. But essentially complete the job the previous owner began of making this the best F10 M5 in Singapore.

1) Fix all the sticky rubber on the door handles and the worn trim surrounding the rear AC vent. F-series BMWs suffer in hot climates and end up with sticky door handles. I have had them in my F30, my F06, and now this F10. I cant stand them, but luckily, its a simple fix. Already ordered.

2) Revert the leather to as new. I am a stickler for the interior condition of cars. The cars interior is a strict 8/10, with 9/10 going to the back seats and the front seats suffering at 7/10. The bottom of the front seats where the leather has worn needs attention. Luckily, there is a specialty leather shop in Singapore that usually repairs high-end handbags and shoes, but they also do car leather on request.

A note for those who saw the video: I had mentioned swapping out the leather entirely for a different colour, as I dont like black interiors. However, I enquired with a few shops and found out that they could not execute my vision as I wanted. Also, the embossing on the seats cannot be replicated exactly locally. So if I cant get exactly what I want, I would rather keep it original.

3) Adjust the KW V3s to my taste. When I first saw the car was lowered, my plan was to revert it back to the original BMW adaptive dampers. However, in the period since I decided to buy the car, I have been doing extensive research in the F10 M5 forums. As it turns out, no one has much praise for the stock adaptive dampers, and a lot of folks recommend swapping out to KW V3s anyway. The best part of the KW V3s is that they are adjustable for damping, rebound, and ride height. So I have a session booked to get it adjusted to my taste. The car will become higher and softer, but I like it like that.

4) Maybe rewrap the Alcantara wheel in leather. My preference is leather, but I am going to give Alcantara a try. Lets see.

The Takeaway

The F10 M5 is quite a sweet spot for performance, price, and character. But it does need looking after. If you are in the market for one, the lesson here is simple: buy the owner, not just the car. A well-maintained example with a meticulous history is worth every penny over a cheaper, thrashed alternative.

Would love to know your thoughts, and feel free to ask any questions.