The problem with E39 wheels is that they have a different hub size than previous models (E3/E9/E12/E23/E24/E28/E32/E34) and will suffer from vibration issues unless a hub-centric ring is used. Tire Rack has them, use the aluminum ones, not the plastic rings. I've known owners who use E39 wheels and have never quite solved their vibration issues with these wheels. On the other hand, a lot of E28 owners run E39 16" & 17" E39 wheel with no problems. Mike Miller, the Roundel Tech editor says E39 wheels should only be used on E39's.
If you want to run style 5 wheels with no issues, look for a E34 15" style 5 wheels. Proper tire on this size with no speedo error is 205/60-15. I'm running this combo on my 81 Euro spec E12 and have no issues and they look great. I routinely see 15" style 5's for sale on Craigslist, they are found on E34 530i/535i.
Here is another great BMW wheel reference. http://felgenkatalog.auto-treff.com/
Interesting to note that 15" style 32 wheels were available on a E34 but I've never seen them on a E34. I'm guessing it was an option for the Euro market but there is a part # for this wheel on real OEM so I presume it still can be ordered.
Thanks for the info., I hate to say it but my winter car is not ready to go and last night we got several inches of snow. Craigslist search found 2 sets of 4 winter tires on 535 steel rims and I am considering them for the limited use the Bavaria may see this winter.
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