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Originally Posted by floating.spirit
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Originally Posted by Ervin87
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Originally Posted by 23109VC
Do you have any insight on the used car market? With wholesale values dropping significantly recently there is a lot of talk about used car retail pricing taking a hit - but I have not seen it yet.
I assume dealers are now paying less for cars , the cars are theoretically worth ~10% less, but asking price retail for used cars, especially nicer M modes seems unaffected
Should we assume that at some point we are going to see the asking and selling prices for used cars at dealerships drop to reflect the depressed market?!
Do you think that for higher end enthusiast cars like M2,M3,M4,M5, etc that we can expect to see a drop in price or are they going to be somewhat immune and still command higher prices?
Im shopping used M4 vs maybe leasing a new one - if the used car prices dropped considerably - buying. A lightly used 2017 or 2018 would be the best deal....
Any insights ??
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Great questions.
I will say that wholesale pricing for M2,M3,M4 and M5 has not dropped much at all. Most other cars have seen around a 10% wholesale drop.
Wholesale inventory of M cars is low as well. Once you filter out those with prior paintwork, no accidents, and low miles, it's a very small number. Demand is still high. Dealers are bidding and paying above what they should (for the good ones).
These cars will depreciate naturally, but I would not expect to see any dramatic price drops.
This week , franchise dealers started buying again here on the west coast. They were MIA the last two months. They were paying more than I wanted to, but they can. |
What's wholesale on a 2020 M5 comp? |
Not enough have sold to get a true value. Just one actually. $97K with 800 miles.