[happyjack]

Originally Posted by ASAP

I paid 60K for my 66k MSRP car in 2019 and sold it earlier this year in a trade for 60K... couldn't even fathom paying that for this car now. If this was a non covid market, these cars would be worth mid 40s max... as already iin 2019 I could find a comp for 53-54... to me the 6k delta was just worth a new M car.

this was still pretty much true in late 2020 / early 2021 -- at least in the used market. there were several used M2C's within 100 miles of DC with under 6K miles priced in the low-mid $50s.

new was a different deal since they were coming to the end of the production run and there just werent many on dealer lots. i couldnt find a new 6MT anywhere within 1000 miles of DC and there was only 1 sunset orange 6MT in the entire US....so i found an allocation, ordered new, and paid MSRP. i made a couple calls on new LBB and HS models with 6 MT and all dealers were at least MSRP...and one had $5K ADM.

[ASAP]

Originally Posted by happyjack

this was still pretty much true in late 2020 / early 2021 -- at least in the used market. there were several used M2C's within 100 miles of DC with under 6K miles priced in the low-mid $50s.

new was a different deal since they were coming to the end of the production run and there just werent many on dealer lots. i couldnt find a new 6MT anywhere within 1000 miles of DC and there was only 1 sunset orange 6MT in the entire US....so i found an allocation, ordered new, and paid MSRP. i made a couple calls on new LBB and HS models with 6 MT and all dealers were at least MSRP...and one had $5K ADM.

I would say if you wanted a specific color / tranny combo at the end of the production cycle, then yes I agree... you would have to pay msrp. Otherwise, for car's sitting on lots, there were discounts all over... I found my picture below (bet everyone would wish to see this again)-

[trey100]

Originally Posted by ASAP

My friend... nothing is further from the truth... the only thing the M2 had going for it from a price perspective is the fact that it was rarer... outside of that, they were selling below MSRP everywhere... in mid 2019... i had to call only 2 dealers to find below MSRP locally and this was in the hot South Florida market.

There were a few things when I spoke to a salesperson... he said the fact that the M2 is so small and only 2 door already removes a lot of buyers... There are so many dealers where the comps just sat and sat waiting for a buyer... South BMW in Miami had 10 at one point... that's not a joke, I have a picture of it somewhere on their back lot. if you paid MSRP back then, then that was a clownish move back then just like paying over 60K for one now is...

I paid 60K for my 66k MSRP car in 2019 and sold it earlier this year in a trade for 60K... couldn't even fathom paying that for this car now. If this was a non covid market, these cars would be worth mid 40s max... as already iin 2019 I could find a comp for 53-54... to me the 6k delta was just worth a new M car.

Not sure we are that far off. First is you bought a brand new car for $6k off sticker. Many people paid MSRP for M2s or close to it. At the end of the day your case would still only be a $6k premium if one were to buy the car new at MSRP and you get a NEW car. Folks are spending MSRP on 2-3 year old cars. The same ones you admit that should be worth $15k less that MSRP (and that’s being generous). In reality buying a new M2 at MSRP is way smarter than buying a used car at anywhere close to MSRP. Besides the fact that you were able to save $6k in your example, it doesn’t seem you actually made a case against my main point.

[IcewaterPete]

Originally Posted by ASAP

... I found my picture below (bet everyone would wish to see this again)-

Yo know it!! What a sweet looking lineup.

[m2ss]

I've done far better on my cars than the mkts in the last year...crazy times indeed.

[KevinC]

[ASAP]

Originally Posted by KevinC

Great video that foreshadows what's about to come... used car values have absolutely tanked in the last 3 months and it's only going to get worse... if carvana goes belly up that will just further fuel the fire... this means that new cars are next.

[Enabled]

Originally Posted by purpleguitar

Paying almost what the car cost new for a 4-5 year old car. Wouldn't it make more sense to pay the extra $15k and a get a brand new M2 when they are out?

While it's a personal preference, my reply to this is that the G87 M2 is horribly ugly. I'd be very happy if it looked better in person than in pics, but who knows.


I happened to get my M2C in late 2020 before the used market went nuts, and it was among the cheapest low mileage M2Cs in the entire country. That only made me more happy to keep it.

[m2ss]

Originally Posted by ASAP

Great video that foreshadows what's about to come... used car values have absolutely tanked in the last 3 months and it's only going to get worse... if carvana goes belly up that will just further fuel the fire... this means that new cars are next.

Maybe I'll be able to buy back my R8 at a discount...

[s1k_RR]

I want to know if the M2C was actually selling at MSRP when it was released in the US 2019-2021 or a little over? Admittedly I paid $60k for my 21 back in Oct. Had 8k miles.

[allinon72]

A used car apocalypse has been predicted for at least the last 10 years. We’ve seen wild shifts UPWARD but as it always happens, the speed going the other direction is always much slower over a period of several months or years. When people watch overly dramatic videos, they think they’ll be able to walk in and buy a car for 20k off the following Monday. Not going to happen in any scenario. In fact, we’re still flushing out demand from the last few years.

There are too many stakeholders in this industry to allow a catastrophic, fast moving decline. It will happen incrementally over years. This includes a Carvana bankruptcy, who is owned by the Drivetime fraudsters and can float along for quite a while.

[chris719]

Originally Posted by s1k_RR

I want to know if the M2C was actually selling at MSRP when it was released in the US 2019-2021 or a little over? Admittedly I paid $60k for my 21 back in Oct. Had 8k miles.

It was selling at MSRP maybe for the first couple months, then a bit below.

[ASAP]

Originally Posted by allinon72

A used car apocalypse has been predicted for at least the last 10 years. We’ve seen wild shifts UPWARD but as it always happens, the speed going the other direction is always much slower over a period of several months or years. When people watch overly dramatic videos, they think they’ll be able to walk in and buy a car for 20k off the following Monday. Not going to happen in any scenario. In fact, we’re still flushing out demand from the last few years.

There are too many stakeholders in this industry to allow a catastrophic, fast moving decline. It will happen incrementally over years. This includes a Carvana bankruptcy, who is owned by the Drivetime fraudsters and can float along for quite a while.

a used car apocalypse hasn't been remotely predicted for the past 10 years... things didn't spiral out of control until mid 2020 to about the middle of this year... so 2 years things have been massively out of control... they are 110% Covid supply chain shortage related... these supply chain bottle necks are slowly being filled and demand has falled off a cliff... i look at car prices almost daily... and day in and day out, the same cars continue to have price dropped... as fast things went up is almost as fast as they will fall... u can quote me on this as it's already happening...

[RenatoNYC]

In my particular case I had been looking for a VERY specific car — LBB LCI 6MT ZEC, sleek top, 1-owner, stock and under 15k miles. So anything else wouldn’t fit the bill. 😊

It wasn’t a rational decision LOL

[ElaiNetgil]

Hi. The decision to buy a new car versus a used car ultimately depends on your personal preferences and financial situation. Here are some factors to consider:

Budget: If you can afford to pay for a new M2 without straining your finances, then it may make sense to go for it. However, if you're stretching your budget to buy a new car, you may want to consider a used car that is more affordable.

Depreciation: New cars typically depreciate quickly in the first few years of ownership, meaning you'll lose more money if you decide to sell the car after a few years. In contrast, a used car that is a few years old may have already gone through the steepest part of its depreciation curve, which could make it a better long-term investment.

Condition: A 4-5 year old car may still be in good condition, especially if it has been well-maintained. However, it's important to have the car inspected by a mechanic before you buy to make sure there are no hidden issues that could become expensive to fix.

Features: If having the latest features and technology is important to you, a new car may be a better choice. However, if you're willing to sacrifice some of the latest bells and whistles for a more affordable price, a used car could still be a great option.

Overall, whether it makes sense to buy a new M2 or a used car depends on your individual circumstances. It's important to consider factors like budget, depreciation, condition, and features before making a decision.

[m2ss]

Originally Posted by ElaiNetgil

Condition: A 4-5 year old car may still be in good condition, especially if it has been well-maintained. However, it's important to have the car inspected by a mechanic before you buy to make sure there are no hidden issues that could become expensive to fix.

This to me is the most important, has saved my bacon twice...