Brake pads EBC or OEM BMW
DBA 4000 T3 high-carbon rotors and EBC Red Stuff pads improved modulation for me significantly.
EBC Redstuff for the street, low dust keeps the wheels looking nice.
I got mine February this year, M5 F90, Pre-LCI (2019), just about 40k miles; Lovely car and I have been daily it. Just like other have said, get one that has been looked after and serviced. For me, it was an approved used and was just serviced before collecting it, it had new brake pads and discs, the OEM pads are awful and replaced them with EBC Yellow stuff brake pads, I would recommend if you ever need to replace pads.
Depending on your engine (taking the 2.0 turbo petrol as an example) EBC do a kit for all pads and disks for £506.57 including VAT.
I have ebc red stuff on my car. They produce dust but stop very well
If you want less brake dust then EBC Red Stuff. I ran them on my 435i and I am running them on my M4. They are fast road pads, not track pads. But they work well and there is pretty much no dust.
Have a 16 535i, took ownership at ~30k km and now at ~80k km. Front brake pads (re used old rotor but will change once I get through current set).
2001 740i never had any issues with the throttle response but the brakes could be better. Too spongy and not as responsive as my 99 540i was.
Avoid the EBC blue stuff pads with those rotors, in case you're looking. They're super squeaky, even after a couple thousand miles, and seem to tend to put deposits on the rotors that make them feel like they're warped.
I am on their RP-1 pads but I get terrible vibrations after they get heated. I suspect its because I didnt change rotors from my previous pads. I just thought they'd be rebedded after a few hard stops with the new pads.
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