E39 540i's are depressingly hitting shed money. Webuyanycar are offering me £975 for mine!
They certainly tick the performance and comfort boxes, but unless the OP has a war-chest for spares, repairs and "random expensive thing" replacement I'd look for something less likely to dig deep holes in the bank.
On the other hand, if you do have a savings wedge to lean on - they make bloody fun motorway rockets.
I'm the owner of a £1500 530i, had it over a year now and thus far, its not bankrupted me(!)
yes, its got an annoying intermittent power loss issue which I can't find, that said, it seems to have stopped doing it recently, lord knows why!
I've done 11k since having it and its needed discs, pads, a caliper and some engine sensors (chasing above fault) and brake lines for the MOT, it excels on A roads & motorway runs, alas, I rarely do such runs :/
Assuming the OP finds a good one cheap enough he strikes me as the sort who isn't too bothered about fixing things on such a car, I'm sure he appreciates such jobs are inevitible no matter what you buy in this category at this money (give or take!)
He's nearly got twice my purchase price, I'm sure he'll get a better one than mine, that said, I love mine (when its behaving) its never once failed to start nor stranded me,despite the power loss gremlin,it returns ~24MPG and will happily cruise all day on the motorway.
Seems to me to be the perfect option for the OP, look for one advertised at around £2kish, offer £1800 cash, £1k in reserve for the inevitible stupid faults it'll undoubtedly have, job done.
