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My advice would be to get a 2002 M5 in February (archive)
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Posted by NYC M5 on October 26, 2001 at 13:38:27:

In Reply to: Question for M5 owners posted by Kurt-328i on October 26, 2001 at 12:32:54:

when your 328i lease runs out. It's always tempting to want to wait for the next version, especially when the word is a V10 with over 500 hp...). As has been listed, that could be 2005 - who knows ? In terms of M3 versus M5, that is a subject on which there is never any shortage of write-ups on this board. I would sum it up by saying the number of people who go from M3 to M5 dwarfs those who do the opposite. Both great cars, but different in many ways.

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