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      08-17-2019, 11:18 PM   #1
GoKart10
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Buying my first expensive (2018 M2) car

Hi everyone,

I've decided on purchasing a 2018 M2. Found a base with executive package I believe (it has heated steering wheel)...

Will be getting it from a local Honda dealership here. I have been out of the loop for a while, and wanted to see if I am missing anything.

I did and ran across a post of someone whose warranty was voided, because himself and the dealer he purchased from wasn't aware that the car was tuned.... For that reason, I will be taking the car to a local BMW dealership to get it checked out. I called, and was told that they would charge 2 hours of labor.. which I am fine with... I want to make sure the car is not modified, has an aftermarket downpipe, etc..

My mind is all over the place. One thing is the new M2C.. Although I do not like the way that car sounds, and find the power to be too much for my needs, I can't help but wonder that it may be better for my needs due to the adjustable shocks, and maybe better resale value? Anyways, I am perfectly fine with the M2.

I will be getting a 2018 M2 with less than 10K miles, and the dealer is asking $49K.

Is this too much? I am seeing that a lot of M2's are now going on sale on cars.com.

Should I wait another 6 months - 1 year? What is happening recently? I guess the new M4 is coming out in 2020, but I have no clue what else is happening, which is the biggest reason I am posting this.

------

Another part of me that is making me nervous, is the fact that I never had a car this expensive before!!! I've had many VW GTI's before, all used, and currently driving a Ford Mustang Ecoboost for the last 4.5 years. I never liked the car, and I want to get out. I want to treat myself. I've had some chronic health issues for the last 2 years, and maybe I am going through a mid-life crisis at the age of 30.


I've done the following thought in my head, to justify buying this expensive car. If I purchase a traditional car that suits my needs, say a Toyota/Honda, whatever @ $30K, I will be only saving $20K over 5 years (my finance deal), actually less because the M2 depreciates less. Give or take it my balance, I guess considering added insurance, maintenance..

-----

Third part of my post is the financing. I will be financing roughly $29K for 72 months. Best rate I got is 3.99% APR. Can I do better? I have exellent/near perfect credit score.

For what is worth, I have a 2.0% APR on my Mustang, approved in March of 2015.

Thank you all.

Last edited by GoKart10; 08-22-2019 at 02:21 AM.. Reason: Removed salary info
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      08-18-2019, 12:55 AM   #2
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Try and talk the dealer down a bit. I bought my 2018 a year ago with about 4000 miles in it for what you're paying. And you have roughly a year less warranty depending on service date. There's plenty of M2s for sale all over the country with great prices (check the classifieds in this forum)

Warranty issues can come up with modified cars.. But they have to essentially prove the modification caused the issue. I highly doubt a tune is going to break anything as there are M2s pushing 500+ HP without any issues.

As far as I'd you can afford it no one can make that determination. But YOLO...

The M2 sounds much better (to my ears) than the new M2C.. With the cost savings I think the 2018 models are at a bargain right now. Unless you plan to hit the track a lot, I dint really see the draw in your situation.

Hope this helps!
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      08-19-2019, 09:42 PM   #3
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49k seems high to me. I feel like I've heard of people getting better deals than that. I'm sure the dealership is making a few thousand off of you.

I see that you're in the DC area...there are tons of M2s here. I would try to find a local guy to buy from to save those few thousands.

This was my most expensive car (m2c) too and something I forgot to account for was personal property tax and insurance if it is your primary vehicle...just FYI.

The car is tons of fun though. Like the previous guy...YOLO!
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      08-25-2019, 12:11 PM   #4
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Actually $49 is not bad however you can do better. Say $45-47. Do your own research don't depend on a few people's opinions
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      08-27-2019, 12:39 PM   #5
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my friend is in the market for a used M2 or new M2c and it's now almost impossible to find 2018 LCI M2 in manual at this time. there are only 3 in the classifieds section currently and all are above $50k (can't care less about what type of mods it has).

It's looking like used market for M2 has dried up currently.
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      08-27-2019, 07:39 PM   #6
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Quote:
Originally Posted by termigni View Post
It's looking like used market for M2 has dried up currently.
huh? there are 112 used 2016-18 on Autotrader right now
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      08-28-2019, 11:28 AM   #7
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at 49k...you might as well pay a little more and get a used m2c for 55k.

its probably cheaper just to buy a 2017 m2 used for 43kish and pay the $1500 to install the LCI cluster from the 2018
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      08-29-2019, 07:49 AM   #8
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Quote:
Originally Posted by particulardude View Post
Quote:
Originally Posted by termigni View Post
It's looking like used market for M2 has dried up currently.
huh? there are 112 used 2016-18 on Autotrader right now
My friend is not shopping across the country. The range is 200 -may be 500 mile radius. Please find my buddy a 2018 Lci M2 manual transmission in LBB. Under 10k miles. Sunroof more than welcome. All stock preferred.
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      09-05-2019, 05:13 PM   #9
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Quote:
Originally Posted by termigni View Post
My friend is not shopping across the country. The range is 200 -may be 500 mile radius. Please find my buddy a 2018 Lci M2 manual transmission in LBB. Under 10k miles. Sunroof more than welcome. All stock preferred.
just have them ship the car to him...most dealerships can ship cars now. the best m2 deals i've seen are on the east coast during winter time.
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      09-05-2019, 10:18 PM   #10
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One thing I would like to point out is that the M2C does not have adjustable shocks. The suspension is static just like the OG M2.
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      09-27-2019, 07:29 AM   #11
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Quote:
Originally Posted by pz619 View Post
One thing I would like to point out is that the M2C does not have adjustable shocks. The suspension is static just like the OG M2.
@pz619 is correct.

As for the OP's other questions, let me take a stab:

M2C - better resale value, maybe. But is it worth the extra money now, especially since it seems that you are stretching a bit? No. Especially if you don't like the sound and don't need the extra power.

$49K is probably market value, but at a Honda dealer (versus BMW where they can CPO it) it's probably a smidgen high and you should be able to negotiate that down. If you want to spend the time and effort to shop nationwide, you can do better. But there is a cost to that, plus you probably want to drive/fly out and check out the car in person before buying.

Should you wait? No. Not unless you really want an M4, but the new ones will come at a premium and it may be another year before it starts to impact the resale of the used ones. And I could have bought an M4 (or M3) if I wanted to, but the M2 is a better driving, more enjoyable car.

...
Quote:
maybe I am going through a mid-life crisis at the age of 30.
LOL, there's no rule saying you have to wait until 40! Illness can make us reconsider our priorities. Life is short; if this will make you happy, then go for it. Just don't sacrifice other things (like food) to make it happen.

4% used car loan doesn't sound bad to me, but like the purchase price, everything is negotiable and with good credit, yes, you may be able to do better. Again, it will take time and effort.

Best of luck, keep us posted!
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      09-27-2019, 07:34 AM   #12
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Update: I did a quick search and there's a 2018 black M2 6-spd with less than 10K at the PA dealership (close enough to the OP) for $50K and CPO. If the color and transmission work, this may be a good alternative.

And it took me 30 seconds to find it.

Link here.

No affiliation, just the first one that I found.
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