I'm starting to get the itch. If my work situation stays good, I'll likely upgrade from my E55 in the Summer. Right now, I am seriously thinking about a pretty eclectic selection of cars. My main theme is used car bang for the buck - the economy is bringing some fairly nice hardware into my affordability range of around $40k. This car will be my DD and weekend fun driving car.

Here are the candidates and my feelings on the pros and cons of each:

BMW M5 (E60)
Pros:
Great high rpm punch
Supercar engine note above 6000rpm
Decent handling for a 4000lb car
Still new enough to have factory warranty
Cons:
Not very strong below 4500rpm
Sounds like a diesel at idle and low rpm
Not a handsome car

Mercedes SL55 AMG
Pros:
Very satisfying torque delivery right off idle
Sounds like a big cube muscle car (significantly louder than my E55 due to exhaust system differences)
Easy mods for more power
Great hardtop convertible
Good looking
Cons:
Weighs 4400lb
Old school automatic transmission


Porsche 911 Turbo (996)
Pros:
Very quick point-to-point in any weather
Strong performance, even stock
Easy mods for more power
It's a 911 Turbo
Cons:
Cabin doesn't feel very special
Engine doesn't sound as good as the normally aspirated flat sixes
Not the best handling Porsche on the track

Porsche Cayman S
Pros:
Superb handling
Purest Porsche driving experience this side of the GT3
Still new enough to have factory warranty
Cons:
Underpowered compared to every other car under consideration
Lacks visual presence

 

One of the Porsches. Don't like E60 BMWs, and the SL55 may be too similar to your E55. I fell in love with the Cayman S that I drove, though it was a bit lacking in power (the car is so good it's just begging for more power).

 

I tracked an M5 and it was so heavy it just wasn't any fun. Personally I would lean towards the CS. I love the 911T but somehow the CS just calls my name. However to the best of my knowledge my name is not the same as yours.

 

I like the SLK55 AMG, but not the SL. But since its auto only, I just can't do it myself.

 

V10 M5 all the way

 

Are you sure you can get an SL55 for $40K? If so, at that price you're likely to get a 2003, the first year for the hardtop convert. That year had many problems with the operation/reliability of the hardtop. It has a lot of wildly moving parts (beautiful to watch of course) and they get out of alignment fairly easily. Along with that, the trunk when used as a trunk (the trunk opens both ways) sometimes has problems with the automatic closing mechanism, and that needs resetting by MB. I'd be careful with a 2003 or even a 2004. And before that, it was a softtop.

The transmission will not even be the 7 speed of the SL500. It's a prior model, which can handle the TQ.

However, it is gorgeous. And the power that thing makes is unbelievable and the sound is like some beast from hell!

 

2003 and 2004 SL55's fall into that price range. There are a few 2005 cars out there too, but they have higher mileage than I would like. I would definitely buy an aftermarket warranty with the SL55. The hardtop mechanism is very expensive to repair, as is the Active Body Control suspension.

Even the new SL65 Black Series uses the 5 speed, as the 7 speed can't handle 500+ lb-ft of torque.

 

996TT or CS would be my picks

 

 

M5 or 911