The E39 is a bullet-proof car with one or two weak points, like radiators and thermostat housings (just like the E34s). As far as maintenance, keep up with the Inspection I and Inspection II cycle. If there are no independent shops around that you feel can perform the Inspections, just take it to the dealer. Call the service manager at the dealership and ask if they ever have "specials" on the Inspections.

The Roadfly E39 site is as good as it gets.

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Trex