Beware the price crash...

Get your M2 fix here

Moderators: babybmwadmin, marco_polo, Producethis, Lambster, Rich196

Post Reply
User avatar
Tarka
Junior Member
Junior Member
Posts: 50
Joined: Mon Nov 12, 2012 11:48 am
Location: Deepest Woosterford!

Beware the price crash...

Post by Tarka » Sat Nov 04, 2017 6:36 pm

Sorry to be the profit of doom here but is anyone else shocked by the plummet in second hand values?

I thought I would recount my recent experiences regarding M2 values...

I bought my well specced car new a year ago and I had intended to keep it a long while. But ,after my circoumstances changed regarding what I needed from the car, I decided it was time for something more extreme and exotic and I strted to consider upgrading.

I thought I would wait until august 18 to change but a conversation with a friend in the trade two months ago encouraged me to consider jumping quicker. He reasoned that there were about to become a lot of low mileage used M2's for sale as many dealers had put cancelled orders pre LCI into demo/ company vehicle stock.

I approached my supplying dealer and after a fair amount of arm twisting we settled on an acceptable price. I had been tracking values on We Buy Any Car (WBAC) leading up to that time and thigs were pretty stable and predictable. I was happy enough.

Roll on six short weeks since I returned my car and it has dropped in value by a further £5K on WBAC, my dealer is now selling it for less than he paid me for it! My car was manual. He has a slightly newer lower mileage DCT on offer as well (Ex demo, high spec 3K miles) which according to WBAC has lost £6K in the same time (its now worth less than the older manual) and he has slashed the price of that car by £5K! Still can't sell it though... He is now stuck with three low mileage cars less than a year old, a brand new registered pre LCI car and an unregistered new one in the showroom...

And while WBAC isn't the bible it is still indicative of market trends.

I think I had a lucky escape here but I would caution anyone that if you are thinking about getting out of your car, I wouldn't if you can avoid it just yet. And, If I were about to pull the trigger on a new one, I just wouldn't... Or I would make a very silly offer, you may well be lucky!

My supplying dealer is pretty peed off by this sitution too and in a candid conversation he is totally hacked off with BMW pushing cars at the dealers pre LCI. Its very poor really, they have sold loyal customers down the road here. I have to say that Audi have doe a lot better at managing the supply of RS3's and as a resut values have held up much more strongly despite the recent power train upgrades in that car.

Great car the M2 and I thouroughly enjoyed mine but I won't be buying another M product in a hurry. This is the sort of behaviour you expect from Fiat, Citroen or Hyundai! Not a so called "premium" manufacturer...

Controversial maybe? But just my two peneth....

T
F87 M2 LBB MT, fully loaded, Carbon, MPE
Fiesta SportVan in Stealth black. What a hoot!

User avatar
Octavius
Too Much Time To Waste Member
Too Much Time To Waste Member
Posts: 18663
Joined: Tue Jul 26, 2011 1:51 pm
Location: In The Land Of The Romps

Re: Beware the price crash...

Post by Octavius » Sat Nov 04, 2017 7:36 pm

Any trade in price is nearly always the estimated auction value anyway.
Fair enough they could be higher on certain cars but when Bmw and the likes offer large discounts and cheap PCP deals it’s not going to help anyone other than their share holders.
MY SIGNATURE STOPPED WORKING AFTER AN UPDATE.

User avatar
sawda
Enthusiastic Member
Enthusiastic Member
Posts: 491
Joined: Mon Jan 18, 2016 9:03 pm

Re: Beware the price crash...

Post by sawda » Sat Nov 04, 2017 8:07 pm

Tarka wrote:Sorry to be the profit of doom here but is anyone else shocked by the plummet in second hand values?

I thought I would recount my recent experiences regarding M2 values...

I bought my well specced car new a year ago and I had intended to keep it a long while. But ,after my circoumstances changed regarding what I needed from the car, I decided it was time for something more extreme and exotic and I strted to consider upgrading.

I thought I would wait until august 18 to change but a conversation with a friend in the trade two months ago encouraged me to consider jumping quicker. He reasoned that there were about to become a lot of low mileage used M2's for sale as many dealers had put cancelled orders pre LCI into demo/ company vehicle stock.

I approached my supplying dealer and after a fair amount of arm twisting we settled on an acceptable price. I had been tracking values on We Buy Any Car (WBAC) leading up to that time and thigs were pretty stable and predictable. I was happy enough.

Roll on six short weeks since I returned my car and it has dropped in value by a further £5K on WBAC, my dealer is now selling it for less than he paid me for it! My car was manual. He has a slightly newer lower mileage DCT on offer as well (Ex demo, high spec 3K miles) which according to WBAC has lost £6K in the same time (its now worth less than the older manual) and he has slashed the price of that car by £5K! Still can't sell it though... He is now stuck with three low mileage cars less than a year old, a brand new registered pre LCI car and an unregistered new one in the showroom...

And while WBAC isn't the bible it is still indicative of market trends.

I think I had a lucky escape here but I would caution anyone that if you are thinking about getting out of your car, I wouldn't if you can avoid it just yet. And, If I were about to pull the trigger on a new one, I just wouldn't... Or I would make a very silly offer, you may well be lucky!

My supplying dealer is pretty peed off by this sitution too and in a candid conversation he is totally hacked off with BMW pushing cars at the dealers pre LCI. Its very poor really, they have sold loyal customers down the road here. I have to say that Audi have doe a lot better at managing the supply of RS3's and as a resut values have held up much more strongly despite the recent power train upgrades in that car.

Great car the M2 and I thouroughly enjoyed mine but I won't be buying another M product in a hurry. This is the sort of behaviour you expect from Fiat, Citroen or Hyundai! Not a so called "premium" manufacturer...

Controversial maybe? But just my two peneth....

T
Personally Im not sure what you were expecting. A rwd sports coupe this time of year os gonna be hit hard this time of year. Enter spring and prices will hold strongerm ultinately new cars are hit hard and we all should know this. As an RS3 owner residuals have been very good but the m2 is the better car... I prefer the better car imo. The m2 i beleive will do better than other m cars on residuals. Virtually any car you buy and sell within a year will take big hit, ront forget 20 per cent of your brand new m2 was vat. Im keeping m2 for the long term (unless csl appears) then it will start to make more sense. Firmly belive in 10 years time these cars will be highly revered even more so than they already do.

Sent from my HTC 10 using Tapatalk


Kerr
Too Much Time To Waste Member
Too Much Time To Waste Member
Posts: 2397
Joined: Sun Oct 11, 2015 10:46 pm

Re: Beware the price crash...

Post by Kerr » Sat Nov 04, 2017 8:18 pm

Prices have to come down for lots of things. Cheap finance and PCP deals have made expensive cars more accessible than ever.

With interest rates starting to be pushed back up people will have less disposable cash and finance won't be as cheap. The prices of used cars are going to suffer.

Sales have only just started to fall after breaking all records for years. There is plenty of supply out there. I'm surprised that some cars are for sale for so much money when many have been for sale for many months. If they take that long to sell they probably aren't worth what they are asking.

Shandy
Knowledgeable Member
Knowledgeable Member
Posts: 189
Joined: Sat Dec 14, 2013 3:14 pm

Re: Beware the price crash...

Post by Shandy » Sun Nov 05, 2017 9:09 am

When I was buying most of the dealers were still trying to be firm on the prices advertised which pushed me back towards a deal on a new car.

There are cars still advertised that were on when I was looking a couple of months back. Overall though there is a fairly small percentage of all the M2s sold in the U.K. that are on the market at any given time.

There will always be deals to be had from time to time but the best way to get a 'bargain' is buying something that you are really going to enjoy over a number of years. Swapping around every 12-18 months is always going to end up in burnt fingers.

Dajonah
Experienced Member
Experienced Member
Posts: 439
Joined: Sat Oct 26, 2013 2:12 pm
Location: Yorkshire

Re: Beware the price crash...

Post by Dajonah » Sun Nov 05, 2017 10:05 am

There was only 20 manual m2s on trader this week. Not sure if that includes full auc stock or not but still not a massive selection country wide.
I think we were kidding ourselves if we though bmw were going to limit supply to keep residuals high rather than make a larger profit. Would have been nice though.
Gone f20 m135i auto,estoril blue,Corel red
Gone e92 320d msport alpine White,Corel red,19s

User avatar
692DPG
Enthusiastic Member
Enthusiastic Member
Posts: 465
Joined: Mon Jun 15, 2009 8:42 pm
Location: Lancashire

Re: Beware the price crash...

Post by 692DPG » Sun Nov 05, 2017 8:47 pm

There are also quire a few pre registered and un registered LCI cars pre specified by BMW in the network with dealers. My local dealer Lloyds had 2, one in Mineral Grey and one in Sapphire Black which they were prepared to do good deals on.

Just looking on the AUC website there are 5 pages of M2s for sale which will influence values though the values of early F8x M3s and M4s has come down markedly more.
2017 (67) F87 M2 LCI
Mineral Grey/Black

Retired
2007 (57) E92 M3 Manual MR/Black
2003 (03) E46 M3 SMG CB/Imola
2013 (13) M135i EB/Blk
2005 (55) 130i MSport TS/Blk

1997 (R) Z3 2.8 Roadster - weekender
Hell Red/Red/Black Z3M leather - manual

YaoNg
Enthusiastic Member
Enthusiastic Member
Posts: 518
Joined: Wed Jun 29, 2016 9:48 pm

Re: Beware the price crash...

Post by YaoNg » Mon Nov 06, 2017 10:58 am

It's always interesting how we want to buy them as cheaply as possible but retain the value and sell them for as high as possible. There are some amazing deals around right now but that doesn't de-value the car. Give it another 6 months and we may get some better ideas on how the value of the N55 M2 is.
Black M2 - DCT - black grills - MPE - and a slight wince when I get home late or start early.

User avatar
Deadeye
Too Much Time To Waste Member
Too Much Time To Waste Member
Posts: 2367
Joined: Wed Jan 22, 2014 1:33 pm
Contact:

Re: Beware the price crash...

Post by Deadeye » Mon Nov 06, 2017 11:37 am

I've just done a WBAC on my car and they came back with £50.

Maybe they know something I don't but £50k in 3 months is a fair hit in depreciation.
F20 M135i - most toys
F80 M3 - even more toys - gone!
F87 M2 - most toys

Tell others about your car buying experience by writing a car dealer review at http://www.carbuyingadvisor.co.uk

User avatar
AndytheGreek
Enthusiastic Member
Enthusiastic Member
Posts: 1128
Joined: Fri Nov 16, 2012 11:29 pm
Location: North London

Re: Beware the price crash...

Post by AndytheGreek » Mon Nov 06, 2017 11:50 am

I opened this thread because I thought there might be something intelligent to read.
nope, just someone stating the obvious, all cars depreciate...
2017 M2

wenklaw
Enthusiastic Member
Enthusiastic Member
Posts: 542
Joined: Mon Aug 03, 2015 4:03 pm

Re: Beware the price crash...

Post by wenklaw » Mon Nov 06, 2017 12:59 pm

A friends 22 month old Audi RS3 that cost new £53k was valued at £28k by the Merc garage he was intending to buy a C43 AMG!!! Not sure the Audi RS holding up on residuals is strictly true.

He still has the RS3 and hates it, not sure why he hates it so much but seemed to coincide with my M2 purchase

Kerr
Too Much Time To Waste Member
Too Much Time To Waste Member
Posts: 2397
Joined: Sun Oct 11, 2015 10:46 pm

Re: Beware the price crash...

Post by Kerr » Mon Nov 06, 2017 1:01 pm

wenklaw wrote:
Mon Nov 06, 2017 12:59 pm
A friends 22 month old Audi RS3 that cost new £53k was valued at £28k by the Merc garage he was intending to buy a C43 AMG!!! Not sure the Audi RS holding up on residuals is strictly true.

He still has the RS3 and hates it, not sure why he hates it so much but seemed to coincide with my M2 purchase
You're always hit really hard with expensive options. £13k of added options is an awful lot.

wenklaw
Enthusiastic Member
Enthusiastic Member
Posts: 542
Joined: Mon Aug 03, 2015 4:03 pm

Re: Beware the price crash...

Post by wenklaw » Mon Nov 06, 2017 1:11 pm

Kerr wrote:
Mon Nov 06, 2017 1:01 pm
wenklaw wrote:
Mon Nov 06, 2017 12:59 pm
A friends 22 month old Audi RS3 that cost new £53k was valued at £28k by the Merc garage he was intending to buy a C43 AMG!!! Not sure the Audi RS holding up on residuals is strictly true.

He still has the RS3 and hates it, not sure why he hates it so much but seemed to coincide with my M2 purchase
You're always hit really hard with expensive options. £13k of added options is an awful lot.
He is the sort of guy that just wants all the options just because they are available, he would have ceramic brakes if he could even though he as absolutely no need for them. To be fair he did say Audi offered more but he doesn't want another one after the RS3 and a TTS before that.

TM88
Experienced Member
Experienced Member
Posts: 227
Joined: Thu Jan 23, 2014 1:52 pm
Location: Cardiff

Re: Beware the price crash...

Post by TM88 » Mon Nov 06, 2017 1:30 pm

AndytheGreek wrote:
Mon Nov 06, 2017 11:50 am
I opened this thread because I thought there might be something intelligent to read.
nope, just someone stating the obvious, all cars depreciate...
Spot on really there are very few cars that will ever achieve the 'investment' status and certainly not if they aren't a limited run. The M2 however good it is IMO will never be seen in the same light as the 1M, it's a car you can walk into a dealership now and find 2 or 3 ready to go. It's no different to any current M car. It's going to depreciate just enjoy it.

The one car I regret not buying was a 987 Boxster Spyder that I could have bought at 35k :evil: but let's face it Porsche is a different market at the moment and we don't crystal balls knocking around :lol:

User avatar
Tarka
Junior Member
Junior Member
Posts: 50
Joined: Mon Nov 12, 2012 11:48 am
Location: Deepest Woosterford!

Re: Beware the price crash...

Post by Tarka » Mon Nov 06, 2017 8:43 pm

AndytheGreek wrote:
Mon Nov 06, 2017 11:50 am
I opened this thread because I thought there might be something intelligent to read.
nope, just someone stating the obvious, all cars depreciate...
Good point AndytheGreek! Well made...

However, for those (like me) without your superior intelligence I shall elaborate a little more... This is not about the fact that M2's as with all cars (Porsche GT's accepted) depreciate. Even I know that. And actually I'm not moaning here as I got out of mine very well indeed...

No; I was in fact just pointing out that there is a used value correction going on at the moment that others may be unaware of. And if you are hoping to sell for a high retained value in the near future you may be suprised. Or If you are likely to buy new any time soon you may want to consider pushing hard for a good deal as the wisdom on here (and elsewhere) up to now is that there is a long wait and no good deals to be had. Likewise there should be some cracking used deals around as many dealers are overstocked

Even my dealer is shocked by the sudden change in values and he is candid enough to be hacked off with BMW...

T
F87 M2 LBB MT, fully loaded, Carbon, MPE
Fiesta SportVan in Stealth black. What a hoot!

Post Reply

Return to “F87 M2”