[///M TOWN]

Originally Posted by skream

For anyone that's curious, here's a great tool to look at the prices of used cars. As mentioned, used car prices are up because of chip shortages that have stopped or delayed new car production.

https://www.cargurus.com/Cars/price-trends/

Many new car buyers are choosing used instead

[AmooManiak]

Originally Posted by ///M TOWN

There is also simply a shortage of used cars

That goes hand in hand with what he is saying. Chip shortage = Less New Cars = Less used cars available since no one is upgrading = less supply = more demand = supply vs demand = higher prices.

[PLF69]

Originally Posted by Anthony1s

It doesn't matter to me which event is causing it. The main point I wanted to make is for people to not sell their M2 thinking they have appreciated in value, because you wouldn't really be making money. Everything has went up in value and everything costs more today.

Yes and No, the M3 I want to buy did not have its price inflated like my M2. I got an offer 20% higher than maybe 6 months ago for the M2 but brand new M3 prices are the same as they were announced at lunch.

[AlpsRider]

Originally Posted by PLF69

Yes and No, the M3 I want to buy did not have its price inflated like my M2. I got an offer 20% higher than maybe 6 months ago for the M2 but brand new M3 prices are the same as they were announced at lunch.

There are a ton of factors to consider. If you want to talk about depreciation, have a look at the M4 after 3 years, now look at the M2 after 3 years. The M2 is one of the few BMWs with price that hasn't fallen off a cliff. I'm talking about comparing before Covid.

[///M TOWN]

Clearly the 90k M2CS hasn't done anything but strengthen the OGM2's overall value

[AlpsRider]

Originally Posted by ///M TOWN

Clearly the 90k M2CS hasn't done anything but strengthen the OGM2's overall value

That's my take on it.

[Al Bundy's Dodge]

Really seems like F87 M2 is reaching E46 M3 legendary status...if it hasn't already

[PLF69]

Originally Posted by Al Bundy's Dodge

E46 M3 legendary status

What's that ? Seems like something that lives inside some pationnate fans/owners etc.

Not saying anything negative, just that in reality a status of a car is kind of a personal thing.

[Happy Motoring]

Originally Posted by Al Bundy's Dodge

Really seems like F87 M2 is reaching E46 M3 legendary status...if it hasn't already

I think it's too soon to say that.

I got curious and put my info on carvana and got an offer of $38k for my 2017 with 23k miles and I see some good examples asking price of low to mid $40k.

[akkando]

Originally Posted by Happy Motoring

I think it's too soon to say that.

I got curious and put my info on carvana and got an offer of $38k for my 2017 with 23k miles and I see some good examples asking price of low to mid $40k.

Try vroom.

[chris719]

Originally Posted by Al Bundy's Dodge

Really seems like F87 M2 is reaching E46 M3 legendary status...if it hasn't already

I see a number of horribly abused E46 M3s out there. I don't think there are going to be modern cars that are legendary and appreciate long term except very short run stuff like CSL, GTS, GT2/3 RS.

The prices are just a product of low supply, easy money, and high demand for everything. Prices for just about anything are through the roof, including collectibles, whisky, computer parts etc.

Originally Posted by Happy Motoring

I think it's too soon to say that.

I got curious and put my info on carvana and got an offer of $38k for my 2017 with 23k miles and I see some good examples asking price of low to mid $40k.

That's probably fair in a normal economy. M2 prices are right at the point where it almost makes no sense to buy one used. You'll always get a slightly low offer from a Carvana, CarMax, etc., though.

[chris719]

Originally Posted by AlpsRider

There are a ton of factors to consider. If you want to talk about depreciation, have a look at the M4 after 3 years, now look at the M2 after 3 years. The M2 is one of the few BMWs with price that hasn't fallen off a cliff. I'm talking about comparing before Covid.

I think it's just down to supply. Aside from sheer sales volume, the M3/M4/M5 are typically better lease deals so there is never a short supply after 24 months into the product cycle. I would guess that less than 25% of M2s were leased.

[Al Bundy's Dodge]

Boy, you guys aren't very helpful in pumping up the value of the M2

Admittedly my comment was mostly tongue in cheek.

But I do believe the f87 will go down as one of BMWs best ever. No idea what that means for prices, and nor do I really care since I plan on driving mine into the ground.

[KevinC]

Originally Posted by ///M TOWN

Clearly the 90k M2CS hasn't done anything but strengthen the OGM2's overall value

I think this is a great point. The CS will lift all boats below it. Potential CS buyer gets scared off by price. Starts poking around looking at OG & Comp. Hmm. Looks like almost as much car for far less. And while he could gripe that used prices are "too high", the other side of that coin is that it shows how well the car is holding its value - something a used buyer should care about.

All flavors of the M2 really are special cars. And not that many people seem to have gotten the memo. Same thing happened with the E86 Z4 M Coupe. Dealers couldn't give them away when they were new. They hit the bottom of their depreciation curve around late 2015, now climbing in value ever since. I see a similar trajectory for the M2, since it will always be relatively rare, and at some point, will be discovered by more enthusiasts.

[AlpsRider]

Originally Posted by KevinC

I think this is a great point. The CS will lift all boats below it. Potential CS buyer gets scared off by price. Starts poking around looking at OG & Comp. Hmm. Looks like almost as much car for far less. And while he could gripe that used prices are "too high", the other side of that coin is that it shows how well the car is holding its value - something a used buyer should care about.

All flavors of the M2 really are special cars. And not that many people seem to have gotten the memo. Same thing happened with the E86 Z4 M Coupe. Dealers couldn't give them away when they were new. They hit the bottom of their depreciation curve around late 2015, now climbing in value ever since. I see a similar trajectory for the M2, since it will always be relatively rare, and at some point, will be discovered by more enthusiasts.

I agree with your thoughts. The only caviot would be if the G87 is a revelation. Unfortunately I'm afraid that the G87 will probably be longer, heavier and cost more. At this point it's just guessing though.

[riko///m3]

Originally Posted by riko///m2

Similar experience here. Carvana offered 36k for my 2017 6sp with 7k miles 4 months ago. Their offer today is $41.3k (with 8.3k miles now).

Still I am not selling.

If you are not familiar with Carvana, their online offer is serious/legit. If you accept, they will cut a check and send a truck to pick up the car.

The value is still rising.

Mr car now has 8400 miles. Carvanas offer today, $43.3k

Still not selling.

[Mullins]

Originally Posted by riko///m2

The value is still rising.

Mr car now has 8400 miles. Carvanas offer today, $43.3k

Still not selling.

Diamond hands! 💎🤲🏻

[meeeeks]

So, if a dealer is asking for 50k for a '18 M2 w/ 30k miles is that around fair market value?

[MooMooM2]

Originally Posted by meeeeks

So, if a dealer is asking for 50k for a '18 M2 w/ 30k miles is that around fair market value?

Maybe so but when I bought my comp about 3 months ago I was looking at a '18 OG CPO 20k miles and they were asking 47k and prices are higher now so maybe thats the price now. I know they were willing to negotiate though, pretty sure they woulda let the car go for 45.

[Dasnub]

Originally Posted by Nope Nope

This is a great tool to help track prices. I'm still hoping for a low mileage 2018 M2 in the high 30s or low 40s.

You’re going to be waiting a long time, lol. Maybe forever.

[meeeeks]

Originally Posted by r3awak3n

Maybe so but when I bought my comp about 3 months ago I was looking at a '18 OG CPO 20k miles and they were asking 47k and prices are higher now so maybe thats the price now. I know they were willing to negotiate though, pretty sure they woulda let the car go for 45.

Ah man, dealer won't budge on price 🤬😭. To wait or not to wait… 🤔

[MooMooM2]

Originally Posted by meeeeks

Ah man, dealer won't budge on price 🤬😭. To wait or not to wait… 🤔

I think June used car prices were down which I think will trend down as months go by, they have been going up month by month for a while. Personally I would wait, 50k for an OG with that many miles is A LOT. I bought my comp a few months ago and prices were already on the rise but I paid 55k and had 10k miles, a 2020 with still 2 years of warranty left. 50k for an OG with 30k is imo too much.