Hi guys I am planning on buying an M2 soon however I am quite concerned about the shocking depreciation on these cars in the last 6 months. As you can see there is a 2016 M2 DCT with 30k miles on auto trader for £31k!
. If buying from approved used BMW a similar car is £34-35k with many dealers unable to shift them!. Considering these cars new were £48k+ less than 2 years ago surprises me considering the M2 was regarded as future classic with many owners initially selling them on OVER the RRP in the first 6 months of release!
Question is with the imminent arrival of M2 competition are we going to see the resale value of this 'future classic' continue to drop like a stone?
Last question is when you look at 2016 Porsche Cayman 718's, there has been no more than 10% depreciation in the last 1-2 years compared with 35% in the M2. Would a brand new Cayman therefore be the smarter financial purchase even when compared to a used M2 ?
Well considering the incoming M2 competition, that's the reason for the heavy depreciation. So once it is out I wouldn't be too worried about heavy depreciation continuing, as for the cayman argument, different car, different scenario hard to judge. As the GT4 isn't a replacement for the standard cayman.
FML Or just buy EXACTLY the car you want and drive it EXACTLY how you like, and then, just sell it.
Yes, agreed, depreciation should be a factor, but NOT over what you really want.
Saying you want to buy a 718 because it depreciates less just means you worry more about money than what car you actually want. If I was that worried about depreciation I'd stop worrying, buy a 2008 1.2 Corsa and then put the rest of your money into a nice bearer bond or ISA.
Hi guys I am planning on buying an M2 soon however I am quite concerned about the shocking depreciation on these cars in the last 6 months. As you can see there is a 2016 M2 DCT with 30k miles on auto trader for £31k!
. If buying from approved used BMW a similar car is £34-35k with many dealers unable to shift them!. Considering these cars new were £48k+ less than 2 years ago surprises me considering the M2 was regarded as future classic with many owners initially selling them on OVER the RRP in the first 6 months of release!
Question is with the imminent arrival of M2 competition are we going to see the resale value of this 'future classic' continue to drop like a stone?
Last question is when you look at 2016 Porsche Cayman 718's, there has been no more than 10% depreciation in the last 1-2 years compared with 35% in the M2. Would a brand new Cayman therefore be the smarter financial purchase even when compared to a used M2 ?
FML Or just buy EXACTLY the car you want and drive it EXACTLY how you like, and then, just sell it.
Yes, agreed, depreciation should be a factor, but NOT over what you really want.
Saying you want to buy a 718 because it depreciates less just means you worry more about money than what car you actually want. If I was that worried about depreciation I'd stop worrying, buy a 2008 1.2 Corsa and then put the rest of your money into a nice bearer bond or ISA.
Agreed. No point in discussing it. I've got pals restoring Cosworths and RS Turbos due to what they fetch at the moment. Will they be worth the same in a year / 2 years time?
It's a gamble, and one not worth doing on a daily driver / modern car unless you are going to PPF it and stick it in a warehouse for 20 years.
Hi guys I am planning on buying an M2 soon however I am quite concerned about the shocking depreciation on these cars in the last 6 months. As you can see there is a 2016 M2 DCT with 30k miles on auto trader for £31k!
. If buying from approved used BMW a similar car is £34-35k with many dealers unable to shift them!. Considering these cars new were £48k+ less than 2 years ago surprises me considering the M2 was regarded as future classic with many owners initially selling them on OVER the RRP in the first 6 months of release!
Question is with the imminent arrival of M2 competition are we going to see the resale value of this 'future classic' continue to drop like a stone?
Last question is when you look at 2016 Porsche Cayman 718's, there has been no more than 10% depreciation in the last 1-2 years compared with 35% in the M2. Would a brand new Cayman therefore be the smarter financial purchase even when compared to a used M2 ?
FML Or just buy EXACTLY the car you want and drive it EXACTLY how you like, and then, just sell it.
Yes, agreed, depreciation should be a factor, but NOT over what you really want.
Saying you want to buy a 718 because it depreciates less just means you worry more about money than what car you actually want. If I was that worried about depreciation I'd stop worrying, buy a 2008 1.2 Corsa and then put the rest of your money into a nice bearer bond or ISA.
So I bring forward a discussion about minimising loss of hard earned money which we all care about and your response is that I should just buy a 2008 Corsa? How insightful of you!. Is there no flexibility of your mind that can actually bring forward a less emotional response as I'm not worried - I'm just interested in being able to keep buying nice cars!. The more money I lose the more difficult this becomes right?
Hi guys I am planning on buying an M2 soon however I am quite concerned about the shocking depreciation on these cars in the last 6 months. As you can see there is a 2016 M2 DCT with 30k miles on auto trader for £31k!
. If buying from approved used BMW a similar car is £34-35k with many dealers unable to shift them!. Considering these cars new were £48k+ less than 2 years ago surprises me considering the M2 was regarded as future classic with many owners initially selling them on OVER the RRP in the first 6 months of release!
Question is with the imminent arrival of M2 competition are we going to see the resale value of this 'future classic' continue to drop like a stone?
Last question is when you look at 2016 Porsche Cayman 718's, there has been no more than 10% depreciation in the last 1-2 years compared with 35% in the M2. Would a brand new Cayman therefore be the smarter financial purchase even when compared to a used M2 ?
FML Or just buy EXACTLY the car you want and drive it EXACTLY how you like, and then, just sell it.
Yes, agreed, depreciation should be a factor, but NOT over what you really want.
Saying you want to buy a 718 because it depreciates less just means you worry more about money than what car you actually want. If I was that worried about depreciation I'd stop worrying, buy a 2008 1.2 Corsa and then put the rest of your money into a nice bearer bond or ISA.
Agreed. No point in discussing it. I've got pals restoring Cosworths and RS Turbos due to what they fetch at the moment. Will they be worth the same in a year / 2 years time?
It's a gamble, and one not worth doing on a daily driver / modern car unless you are going to PPF it and stick it in a warehouse for 20 years.
Hi guys I am planning on buying an M2 soon however I am quite concerned about the shocking depreciation on these cars in the last 6 months. As you can see there is a 2016 M2 DCT with 30k miles on auto trader for £31k!
. If buying from approved used BMW a similar car is £34-35k with many dealers unable to shift them!. Considering these cars new were £48k+ less than 2 years ago surprises me considering the M2 was regarded as future classic with many owners initially selling them on OVER the RRP in the first 6 months of release!
Question is with the imminent arrival of M2 competition are we going to see the resale value of this 'future classic' continue to drop like a stone?
Last question is when you look at 2016 Porsche Cayman 718's, there has been no more than 10% depreciation in the last 1-2 years compared with 35% in the M2. Would a brand new Cayman therefore be the smarter financial purchase even when compared to a used M2 ?
FML Or just buy EXACTLY the car you want and drive it EXACTLY how you like, and then, just sell it.
Yes, agreed, depreciation should be a factor, but NOT over what you really want.
Saying you want to buy a 718 because it depreciates less just means you worry more about money than what car you actually want. If I was that worried about depreciation I'd stop worrying, buy a 2008 1.2 Corsa and then put the rest of your money into a nice bearer bond or ISA.
So I bring forward a discussion about minimising loss of hard earned money which we all care about and your response is that I should just buy a 2008 Corsa? How insightful of you!. Is there no flexibility of your mind that can actually bring forward a less emotional response as I'm not worried - I'm just interested in being able to keep buying nice cars!. The more money I lose the more difficult this becomes right?
In all fairness, I really think M2 prices will hold when the new car comes out. A new car priced at 60k+ isn't going to put much downward pressure on a car priced at 30k. If anything, it might even bring them up.
Get it bought, might be the cheapest car you'll ever own, in 12 months time you'll sell it for the same amount.
Depreciation is only a factor if your planning on keeping the car short term.
If it's a keeper and you own it for six or seven years then you will have had your money's worth.
It's all relative though. When the M2 was released there were obviously no discounts and if you wanted to be one of the first to drive one then of course paying full retail price you are going to take a pretty big hit on depreciation. I recently bought mine (decent spec and not pre reg) for a few pounds over £44k. So if in 2 years it's up for sale approved at £35-7k it's hardly catastrophic depreciation. (Not that I really care anyway).
Also I don't claim to know how you've come up with your figures for 718 depreciation but it's worth noting that options are a huge factor when taking anything Porsche. Hardly any cars are bog standard and their options are far from cheap. So while a standard OTR price of a 718s is circa £50k I'd bet most have at least £5k-£8k of options. Looking at used prices might be a bit cloudy as you'd have to factor those option costs in to see true depreciation.
Wrong! If you actually read the thread I asked what people's thoughts were on the M2 and 718 in terms of driving and fun. In this thread I covered price and depreciation due to the fact I was surprised by the used M2 prices which I expected to be much higher. Is that sufficient for you or are there rules on what we can and can't talk about on this forum?
It's all relative though. When the M2 was released there were obviously no discounts and if you wanted to be one of the first to drive one then of course paying full retail price you are going to take a pretty big hit on depreciation. I recently bought mine (decent spec and not pre reg) for a few pounds over £44k. So if in 2 years it's up for sale approved at £35-7k it's hardly catastrophic depreciation. (Not that I really care anyway).
Also I don't claim to know how you've come up with your figures for 718 depreciation but it's worth noting that options are a huge factor when taking anything Porsche. Hardly any cars are bog standard and their options are far from cheap. So while a standard OTR price of a 718s is circa £50k I'd bet most have at least £5k-£8k of options. Looking at used prices might be a bit cloudy as you'd have to factor those option costs in to see true depreciation.
Base Cayman 718 is £42k and used 718's with extensive options are selling for nearer £50k close to their original new price. Essentially options are very much taken into account and reflected in the price on the 718 used market
Who said it was a future classic? Almost every sporty model released these days is being touted as a "future classic". How many were made? Are they really rare?
In all fairness, I really think M2 prices will hold when the new car comes out. A new car priced at 60k+ isn't going to put much downward pressure on a car priced at 30k. If anything, it might even bring them up.
Get it bought, might be the cheapest car you'll ever own, in 12 months time you'll sell it for the same amount.
Disagree, can you give me an example of when this has ever occurred with BMW?. The likelihood is that M2 will continue to depreciate even further when the market becomes flooded with them when customers beginning taking deliveries for their M2 competition. There is a very good chance we will see a sub £30k 2016 M2 by Xmas which I don't think any of us would have predicted
Who said it was a future classic? Almost every sporty model released these days is being touted as a "future classic". How many were made? Are they really rare?
FML Or just buy EXACTLY the car you want and drive it EXACTLY how you like, and then, just sell it.
Yes, agreed, depreciation should be a factor, but NOT over what you really want.
Saying you want to buy a 718 because it depreciates less just means you worry more about money than what car you actually want. If I was that worried about depreciation I'd stop worrying, buy a 2008 1.2 Corsa and then put the rest of your money into a nice bearer bond or ISA.
So I bring forward a discussion about minimising loss of hard earned money which we all care about and your response is that I should just buy a 2008 Corsa? How insightful of you!. Is there no flexibility of your mind that can actually bring forward a less emotional response as I'm not worried - I'm just interested in being able to keep buying nice cars!. The more money I lose the more difficult this becomes right?
Well they aren't really. A quick look at autotrader shows the cheapest 718s cars around 50k granted close to the origanal price of a base 718s but the options on those cars add up to at least 10k -14k (PASM, chrono pack, sports exhaust, PDK, Bose, the list goes on) slightly more than the 10% depreciation you origanally state.
I appreciate that Porsche will hold their money slightly better. But I wouldn't say it's a huge difference. You seem to want to go down the 718 route and have as someone pointed out made a couple of threads regarding different factors. Just go for it!
So I bring forward a discussion about minimising loss of hard earned money which we all care about and your response is that I should just buy a 2008 Corsa? How insightful of you!. Is there no flexibility of your mind that can actually bring forward a less emotional response as I'm not worried - I'm just interested in being able to keep buying nice cars!. The more money I lose the more difficult this becomes right?
Seriously? Cars lose money. That's it. Unless you have a pot of cash and are buying speculatively to flip within 6 months or sitting on for years without driving the car there isn't a way to minimise it without owning a time machine. I don't understand the "discussion". Do we all decide to pay over the odds to minimise depreciation? What are you looking for here?
Who said it was a future classic? Almost every sporty model released these days is being touted as a "future classic". How many were made? Are they really rare?
Who said it was a future classic? Almost every sporty model released these days is being touted as a "future classic". How many were made? Are they really rare?
I get your point. There is too many cars getting released now that people are predicting are future classics.
There is just too many cars being sold to make so many cars instant classics. It's going to take a long time until numbers dwindle and values stabilise.
So I bring forward a discussion about minimising loss of hard earned money which we all care about and your response is that I should just buy a 2008 Corsa? How insightful of you!. Is there no flexibility of your mind that can actually bring forward a less emotional response as I'm not worried - I'm just interested in being able to keep buying nice cars!. The more money I lose the more difficult this becomes right?
You can talk about what you want. I'll also reply how I want. It's ok to disagree. Don't get all upset because it's not what you wanted to hear.
M2 prices seem quite stable to me, I don't see anything decent for less than 35k unless on a v car or high mileage and they've been like that for ages.
So I bring forward a discussion about minimising loss of hard earned money which we all care about and your response is that I should just buy a 2008 Corsa? How insightful of you!. Is there no flexibility of your mind that can actually bring forward a less emotional response as I'm not worried - I'm just interested in being able to keep buying nice cars!. The more money I lose the more difficult this becomes right?
Any new car will depreciate, and if you are trying to minimise that depreciation and it's more important to you than the car you own (or want to own) then I can't see why you'd consider a new car? Maybe that's an unfair comment but you seem pretty adamant about taking that stance, but if it is the case why don't you look at a late e92 m3, or a 1M? It will be a better long term proposition if you're worried about what you may or may not lose on an M2 or 718.
The ideal scenario for everyone here would be that the M2 remains around list price, but I'm willing to bet 90% of people knew the value would drop a hefty amount as soon as the inevitable discounts came. I certainly did, but ultimately if someone says in 12 months time my car is worth £30k it won't make any difference to me as I don't plan to sell.
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