08-28-2020, 11:04 AM | #1 |
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Possible M2 purchase advice
Hi Guys,
I'm thinking about buying a 2017 M2 and I'm just wondering if you have got any advice or things to look out for. The one I'm looking at will be from a dealership but I don't know if that says much anymore. Fairly familiar with BMW's but just not M cars as this is my first. Any advice would be appreciated |
08-28-2020, 11:16 AM | #2 |
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I'd hold off for a while if it's not immediately necessary. Prices on these vehicles have been going up steadily over the last few months (as with most used cars). For example, a pristine 2018 with <10k miles sold for $41k + 5% on BringATrailer a few months ago. Now higher milage and worse condition examples are going for $45-47k. I presume things will regress toward their appropriate pricing levels in the next few months, but the market still seems a little out of whack. Used M2Cs are going for new (or higher) prices.
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08-28-2020, 12:21 PM | #3 |
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M2s are very reliable. I would still get a prepurchase inspection. Especially to make sure that there was no repaired body damage. Not all accidents show up on a Carfax report.
Also have them check for modifications or a tune. They may effect the vehicles warranty.
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08-28-2020, 01:13 PM | #4 |
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Thanks, yeah I think I've got a fairly good deal but unfortunately I need a car at the moment and can't really wait. Plus I've been looking for one for quite a while.
Good point about the tune and bodywork I will ask about that |
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08-28-2020, 01:35 PM | #5 |
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I just spent 3 months shopping and know the market very well. You can find one for under $40,000 with low miles if you’re patient. While prices have trended up lately there will be seeing more availability as the 2018 are now coming off their first year leases. PM me for my phone number and I’ll schedule a call to share my experience if you like. For the money, there aren’t many better coupes. Also consider the 2018 have longer warranty still and better headlights for about the same money.
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08-28-2020, 01:38 PM | #6 |
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And a lot of the dealerships are priced way too high and they are just sitting there. I looked at one in Buffalo, 2016 for $45k and it had been there so long it was covered in dust. I wrote my name on the trunk lid on the way out, lol.
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08-28-2020, 01:56 PM | #7 | |
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08-28-2020, 03:32 PM | #8 | |
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08-28-2020, 03:45 PM | #9 |
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Im in the same boat, there's a dealer 4 hours away that's selling an 2017 M2(the only one within 300 miles).
It's getting harder and harder to find M2s, especially the pre-competition versions(which are the ones I want to buy), so Im just gonna go for it |
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08-28-2020, 04:20 PM | #10 |
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I didn’t say boat loads would be available, but those that leased have $34k residual and should know better. They won’t be turning them in and they will position for a quick sale around $40k or less on this forum, AT, and auction sites like eBay and BAT. Dealers around the country are currently buying and making offers on LCI under 25k miles for $40-42k. It’s why so many are sitting for $45k. Private sellers see this and their cars sit too. The nice thing about quick sale sellers is they are happy to find you, you don’t have to low ball them, and they understand priced to sell theory. There was no negotiation in my case. I paid asking price.
I’ve talked to handfuls of reasonably priced cars owners/dealers, negotiated several opportunities, and ended with an LCI 6MT at $38,500 w all the records and receipts, two sets of wheels and 30k miles. With m exhaust and carbon fiber pieces it was quick and fair. The market will change I’m sure, but right now I know a couple guys for sale under 20k miles that would take $42-43k without much negotiation. I also reached out to WTB ads and learned about what they actually paid. This is my take on just the last 3 months. In two months I’ll know nothing about the market. Sellers have a lot of reason to see value in the cars they probably overpaid for. The car rips at any price, just mine was a lot lower so now I’m buying more parts and will also be faster. Happy to help anyone out there buying. Or selling. Cheers all. |
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08-28-2020, 04:39 PM | #11 |
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Quick search on this forum yields this for under $40k w tasteful mods and has really nice pics.
https://f87.bimmerpost.com/forums/sh....php?t=1749701 |
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08-29-2020, 01:38 AM | #12 |
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the 2017s are pretty solid....i would wait if possible but the resale values on m2s are decent for a bmw
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08-29-2020, 07:31 AM | #14 | |
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08-29-2020, 09:25 AM | #15 |
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Great points here. Definitely get the Carfax as a starting point. I have extras and can email you if you give me a VIN. A worn out motor is the worst. You should be able to notice subtle things, like worn out lug nuts, brake and tire service too frequently. Most don't mount tires at home. And most M2 don't get work done at low end garages that don't enter car service and mileage into the database. Seeing anything off normal service intervals is worth questioning. Look for service records and a story. Hire a quality inspection tech if you aren't sure how to do this on your own. A close eye can see signs of tinkering and wear. I like private sellers because they are usually affluent, honest, and have the cars history. They are often negotiable and willing to prove the cars condition. Lots of dealers know nothing about the car because it came from an auction. I'd try to stick with a local trade if using a dealership, but that still might not give you any history.
Most importantly, follow up on your concerns and keep an open mind about what's important to you. An "accident" might turn out to be a new bumper cover or paint only but the price reduction is significant. I don't mind cosmetic issues for example, not that i welcome them. Frame damage or multiple panels repainted is different and indicates a more severe impact. If you are keeping mine like me, and planning to track for example, than you should be able to save thousands and buy some parts instead by vetting out a blemish that really isn't a big deal. On the other hand there's lots of garage queens out there in perfect condition with low mileage to choose from. Quality dealerships will screen out the bad cars for you, stick a $3000+ warranty on it, and ask you to you to pay north of $45-$48k. |
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08-29-2020, 11:51 AM | #16 |
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Thanks yeah it's done 22k miles since new, with the running service done at 922 miles and then the following oil change done 15k miles later. So the first thing I'll be doing is changing the oil.
What do you think the key things are to look out for to identify if it's been modded? Bolts/ clips around charge pipe etc? |
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08-30-2020, 09:34 PM | #18 | |
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The best you can do is look at all the bolts. Lightly driven brakes would still show plenty of life, check the iDrive service outputs for that. A good technician can tell with the OBD2 reader if it’s had tunes or high rpm usage. A BMW dealer probably has already checked this if it’s CPO though. Typically cars with front end upgrades get exhaust work too, so without that it lowers the odds that there’s been a lot of upgrades. It’s really the sum of many things to get an overall feel. Most of these cars just see average road use and fun commuting. Overall people take care of them and they are designed to handle a moderate amount of abuse. |
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09-02-2020, 06:35 AM | #20 | ||
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09-02-2020, 06:47 AM | #21 |
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Just been told by the dealer that they are fitting new tyres all round so that's good! I can't remember what the AUC standard was on tyres might be 3mm
Do you guys think this fits in with its mileage being around 22k?? |
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09-03-2020, 08:59 PM | #22 |
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That's really not too bad...rear tires can go up in smoke a lot faster than that. If it was serviced at a dealer, which under warranty it should have been, carfax should show if the tires where serviced previously. The blue caliper brakes turn a bit greenish when stressed at high temp loads repeatedly. If this is the first tire change and brakes look good with some life left, then probably checks those boxes at least. I have heard some rear brakes go faster, one user posted his rears pads where toast at 30k under moderate driving.
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