[tmick5jr]

Just got a certified pre owned 2020 comp for 54k with 18k miles. Manual trans

[CSBM5]

Originally Posted by JEM3

Used. I'm most likely going to go for a used one, new are pretty much all sold.

There are six new ones listed in greater Chicago area on Kilter. Laurel BMW of Westmont has a LBB 6MT Exec slicktop at $61,xxx.

[CptSL0W]

Originally Posted by CSBM5

There are six new ones listed in greater Chicago area on Kilter. Laurel BMW of Westmont has a LBB 6MT Exec slicktop at $61,xxx.

I live in Chicago and I have been looking for an M2C. I looked on autotempest and Auto Trader across the whole country. AT shows a handful of manual M2C's in the Chicago Area (Patrick BMW, Bill Jacobs BMW), but when I called last weekend they told me they were sold. I have also been looking for a used one and the price differential between new and used is so minimal (b/n $4k - $5k), that I could not justify buying a used one. I saw a 2020 in white with $6k miles for $58k which I was very tempted to buy. However, I finally got in touch with a dealership that had an allocation and I ended up pulling the trigger and getting $1k off the msrp, so total before taxes was $60,645 for a HS, manual w/ exec pkg. I actually test drove an M2C for the first time back in Jan of this year at the same dealership that I'm ordering from and at the time they were a lot more negotiable on the price. They advised they could do 6% off msrp. I think these cars are getting harder and harder to find, especially in a manual, unmodded and a slicktop. I was also considering a base M2 with under 20k miles and from what I've seen, nice examples go for $44k-$49k. I think M cars in general are going up in value due to bring a trailer. I've been passively following the market for years and have owned several M cars.

[AmooManiak]

Originally Posted by CSBM5

There are six new ones listed in greater Chicago area on Kilter. Laurel BMW of Westmont has a LBB 6MT Exec slicktop at $61,xxx.

I could never rely on Kilter when I was shopping. Whenever I reached out, the car was gone. I always have better luck with Autotrader.

[CSBM5]

Originally Posted by AmooManiak

I could never rely on Kilter when I was shopping. Whenever I reached out, the car was gone. I always have better luck with Autotrader.

I looked at the dealer's web site, and they show the car available (although that too can be incorrect).

[CSBM5]

Originally Posted by CptSL0W

I live in Chicago and I have been looking for an M2C. I looked on autotempest and Auto Trader across the whole country. AT shows a handful of manual M2C's in the Chicago Area (Patrick BMW, Bill Jacobs BMW), but when I called last weekend they told me they were sold. I have also been looking for a used one and the price differential between new and used is so minimal (b/n $4k - $5k), that I could not justify buying a used one. I saw a 2020 in white with $6k miles for $58k which I was very tempted to buy. However, I finally got in touch with a dealership that had an allocation and I ended up pulling the trigger and getting $1k off the msrp, so total before taxes was $60,645 for a HS, manual w/ exec pkg. I actually test drove an M2C for the first time back in Jan of this year at the same dealership that I'm ordering from and at the time they were a lot more negotiable on the price. They advised they could do 6% off msrp. I think these cars are getting harder and harder to find, especially in a manual, unmodded and a slicktop. I was also considering a base M2 with under 20k miles and from what I've seen, nice examples go for $44k-$49k. I think M cars in general are going up in value due to bring a trailer. I've been passively following the market for years and have owned several M cars.

BMW of Barrington? I bought the M2C from them back in Sept 2018 when it appeared my local 3rd allocation spot wouldn't be available until early 2019. I had an outstanding dealership experience, and it was thanks to this board that I found the exact car we were going to order. I received $1117 off MSRP, and this was back when the M2C was very hard to find if you didn't already have an order allocation (late summer 2018). I flew up there and drove back to SC stopping over in KY for one night...excellent weather and fun way to buy a new car. I had 1000 miles on it by day 4.

[akkando]

Originally Posted by tmick5jr

Just got a certified pre owned 2020 comp for 54k with 18k miles. Manual trans

lol people are getting trade in offers for 54k. That dealer must have been high.

[zstokes]

Last month I bought a 2017 M240i with 22k miles on it for 31k. I needed to replace an old daily with something as it started developing problems.

I like the M240i but I've been eyeballing an M2C since it's release, and this M240i is a great entry into BMW ownership.

If used prices haven't calmed down by Sept/Oct of this year then I'll wait another year, or at least until some sanity has returned to the market. All. of the new M cars have what I think are the hideous digital instrument clusters which are a big nope for me. I have to believe that there will be some M2C cars coming off of leases in '22. At least I hope so.

[AlpsRider]

Originally Posted by zstokes

Last month I bought a 2017 M240i with 22k miles on it for 31k. I needed to replace an old daily with something as it started developing problems.

I like the M240i but I've been eyeballing an M2C since it's release, and this M240i is a great entry into BMW ownership.

If used prices haven't calmed down by Sept/Oct of this year then I'll wait another year, or at least until some sanity has returned to the market. All. of the new M cars have what I think are the hideous digital instrument clusters which are a big nope for me. I have to believe that there will be some M2C cars coming off of leases in '22. At least I hope so.

The problem with your plan is that because of terrible lease rates on the M2 very few people leased them. If you really want a M2C you should try to find a new one quickly. I think that is the best way to go at the moment. Since the used car market is so hot you should do alright selling the 240i.

[CptSL0W]

Originally Posted by CSBM5

BMW of Barrington? I bought the M2C from them back in Sept 2018 when it appeared my local 3rd allocation spot wouldn't be available until early 2019. I had an outstanding dealership experience, and it was thanks to this board that I found the exact car we were going to order. I received $1117 off MSRP, and this was back when the M2C was very hard to find if you didn't already have an order allocation (late summer 2018). I flew up there and drove back to SC stopping over in KY for one night...excellent weather and fun way to buy a new car. I had 1000 miles on it by day 4.

I initially went with them but they didn’t have an allocation in hand, but advised they could definitely get one. Elmhurst reached out and said they had one in their name and it was the last allocation in their territory, so I ended up going with them. Both dealerships were great to work with!

Also your drive back home sounds pretty AMAZING! I’m so ocd that I’m going to drive my car straight to the detailer to add PPF on the front end and add a ceramic coat.

[cptobvious]

Originally Posted by AlpsRider

The problem with your plan is that because of terrible lease rates on the M2 very few people leased them. If you really want a M2C you should try to find a new one quickly. I think that is the best way to go at the moment. Since the used car market is so hot you should do alright selling the 240i.

+1

One of the reasons you're seeing the gap between used M2C pricing and new M2C pricing so compressed is because many dealerships are afraid to do ADM. Given significant COVID-related supply constraints, in a perfectly "homo economicus" world, dealerships would be slapping ADM on new cars left and right (as would sellers in all scarce goods and services). But, they don't. Because they fear the primitive, tribal, hunter-gatherer, lizard brain, outraged reaction against "gouging." So, instead, we have shortages.

(There's actually significant empirical evidence / studies that show a steep, voluntary drop off in pricing of goods once prices hit MSRP - evidence that sellers fear reputational harm for pricing goods at market clearing rates.)

What this suggests is that new M2C are under-priced right now, given supply and demand. As such, if you believe in the framework, what it would recommend is that you trade in your used vehicle (you'll get a good price for it, as the price will adhere to supply and demand) and buy a new M2C (MSRP is less than the market clearing equilibrium price, due to dealerships' fear of "outrage").

[Dave H in NC]

Originally Posted by cptobvious

+1

One of the reasons you're seeing the gap between used M2C pricing and new M2C pricing so compressed is because many dealerships are afraid to do ADM. Given significant COVID-related supply constraints, in a perfectly "homo economicus" world, dealerships would be slapping ADM on new cars left and right (as would sellers in all scarce goods and services). But, they don't. Because they fear the primitive, tribal, hunter-gatherer, lizard brain, outraged reaction against "gouging." So, instead, we have shortages.

(There's actually significant empirical evidence / studies that show a steep, voluntary drop off in pricing of goods once prices hit MSRP - evidence that sellers fear reputational harm for pricing goods at market clearing rates.)

What this suggests is that new M2C are under-priced right now, given supply and demand. As such, if you believe in the framework, what it would recommend is that you trade in your used vehicle (you'll get a good price for it, as the price will adhere to supply and demand) and buy a new M2C (MSRP is less than the market clearing equilibrium price, due to dealerships' fear of "outrage").

This.

I think these automobiles are quite a bargain at MSRP which made it easy for me to pull the trigger on one recently. I have a feeling the G87 may have an MSRP that is quite a bit higher when it comes out.

[CSBM5]

Originally Posted by Dave H in NC

This.

I think these automobiles are quite a bargain at MSRP which made it easy for me to pull the trigger on one recently. I have a feeling the G87 may have an MSRP that is quite a bit higher when it comes out.

...you mean a grill quite a bit taller, weight quite a bit higher, and for anyone not interested in a 6MT, a torque converter automatic.

[rcouchh]

Originally Posted by tmick5jr

Just got a certified pre owned 2020 comp for 54k with 18k miles. Manual trans

Good deal!

[Dave H in NC]

Originally Posted by CSBM5

...you mean a grill quite a bit taller, weight quite a bit higher, and for anyone not interested in a 6MT, a torque converter automatic.

Well I guess there's that too

[zstokes]

Originally Posted by AlpsRider

The problem with your plan is that because of terrible lease rates on the M2 very few people leased them. If you really want a M2C you should try to find a new one quickly. I think that is the best way to go at the moment. Since the used car market is so hot you should do alright selling the 240i.

I was pretty proud of myself for buying this car in cash. Plopping all that down with a payment on top is a little unjustifiable at the moment, no matter how strong the want is.

I do take the Econ points, though.

[S2000_Europe]

I bought mine MY20, manual Exc Package and Driver Package with 6K for 57 one month ago

[rcouchh]

Originally Posted by zstokes

I was pretty proud of myself for buying this car in cash. Plopping all that down with a payment on top is a little unjustifiable at the moment, no matter how strong the want is.

I do take the Econ points, though.

Almost always better to not buy fully in cash and keep that money invested. Pretty easy to make more than a 3-4% interest rate with just about any sound investment out there.

Ex. I put $30k down on my M2C, the other $30k I kept invested and doubled it in a matter of 6 months.

[S2000_Europe]

Originally Posted by chris719

The prices will drop, especially when the new M2 comes out if you can wait that long. Otherwise, you might want to buy new.

Well it depends how is the new M2 and if BMW does not increase the price.
I do not see BMW producing a lot more f87s when the replacement is in a few months and some factories are still close

[akkando]

Originally Posted by zstokes

Last month I bought a 2017 M240i with 22k miles on it for 31k. I needed to replace an old daily with something as it started developing problems.

I like the M240i but I've been eyeballing an M2C since it's release, and this M240i is a great entry into BMW ownership.

If used prices haven't calmed down by Sept/Oct of this year then I'll wait another year, or at least until some sanity has returned to the market. All. of the new M cars have what I think are the hideous digital instrument clusters which are a big nope for me. I have to believe that there will be some M2C cars coming off of leases in '22. At least I hope so.

Leasing rates were poor just like the m2. Where are all the M2s that came off lease? Nowhere, because only a very small percent were dumb enough to lease or could justify it as a business expense.

[akkando]

Originally Posted by S2000_Europe

Well it depends how is the new M2 and if BMW does not increase the price.
I do not see BMW producing a lot more f87s when the replacement is in a few months and some factories are still close

The replacement is a year and a half away at least.

[MmmmmM2]

3 left in SoCal. 1 HS in transit, 1 HS and 1 Sunset Orange at dealerships. These are new of course.