04-13-2021, 06:53 PM | #1 |
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Looks like Our M3/M4 will continue to go up in value
Just read this and it explains why the market has gone the wrong direction. Thankfully I got my car at a hell of a price considering today’s market. You now have a good chance at getting an even better deal on your trade in if your upgrading to another car.
My advice to anyone that might still be looking to buy should consider getting one ASAP before prices keep going up. Without new car sales demand will control the market. https://www.marketwatch.com/story/us...se-11618339300 https://www.cnbc.com/2021/04/16/car-...nventory-.html https://www.cnn.com/2021/04/21/busin...ply/index.html
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04-13-2021, 07:02 PM | #2 |
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Very interesting, I have a Z06 to sell. I will see how it goes.
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04-13-2021, 07:55 PM | #3 |
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Wait till you see what happens to the values of used ICE sports cars like the M3/4 when the US bans the sales of new gasoline powered vehicles (assuming gasoline is still easily accessible)
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04-13-2021, 08:09 PM | #4 |
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My buddy just did a KBB on his 09 Z06 with about 40k on it and got it estimated at 42k on the low end. We were both shocked.
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04-13-2021, 08:20 PM | #5 |
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I get it if you have cash but are used car loan interest rates low in the US? They are high in Canada (typically around 5% or higher) and I feel on late model used vehicles you are better off financing a new vehicle when manufacturers are offering low interest rates of 2% or better.
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04-13-2021, 08:32 PM | #6 |
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I was shooting the breeze with a salesman at a local BMW dealer last weekend. Super nice guy, we talked all about the new M3/M4 and the insanity that's going on in the used car market. He made a flat out offer for my 18 Comp 6MT with 29k miles on it, and the offer was higher than I saw on blue book. Of course my car has some very tasteful (in my opinion of course hah) valuable mods and looks a helluva lot more expensive than it actually is (my opinion x2). Told me they'd offer the money on the spot, and they'd have my car sold within 48 hours at a sizeable profit. I have no idea how he could offer me more than the blue book and still make a profit, but his words not mine. He said the later model LCI Comp 6MTs are all commanding a high premium now. He was very savvy, he knew exactly what I had.
He said they can't keep any nice used cars in stock. He told me he has friends at different dealerships who've been flipping used cars so fast, often the same day they come in, that folks are having titles delayed big time. He said it's not uncommon for buyers to have to wait 60 days before the title shows up, which I think is just nuts. He was of course very clear that wasn't happening at HIS dealership. His best advice however, was that if you're buying a car now just go new. Used car prices are so insanely jacked up, that you're honestly hurting yourself by not going new and getting the warranty, maintenance, sometimes 0% interest on new car loans, etc. He stated he's been selling used cars 2-3 years old for less than 5k from the new car price and that new car is sitting right there on the lot! He's just dumbfounded that people are still buying used at this point if the price is anywhere close to a new model! Crazy crazy times for sure. |
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04-13-2021, 09:02 PM | #7 | |
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That’s pretty much why the dealer can take your car as a trade in and flip it within 24 hours. Since these cars are priced so high going from 2.5% to 5% is the difference of about 4k over the life of the Loan which means if you can get a lower rate by going to the dealer you can pay a higher price than if you bought it private party and still get a better deal. On cheaper cars this doesn’t exactly workout the same way. Last edited by buster84; 04-13-2021 at 09:18 PM.. |
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04-13-2021, 09:26 PM | #8 |
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Yeah it's insane at the moment. The lease on my 8K miles F80 ZCP 6MT is up in Sept, and I've been surprised to see current street prices compared to my residual value.
The dealer kept leaving me voicemails asking me to consider trading for a new car. I eventually called the sales guys back and listened to his pitch. When he was done I said: yeah, but have you looked at the snout of the new M3? His response: "I know, I know, you're not the first one!" I told him I was just having fun and not ready to make a move. He said they're looking for used cars and would make a good offer if I changed my mind. |
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04-13-2021, 09:28 PM | #9 | |
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04-13-2021, 09:51 PM | #10 | ||
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Don’t forget to get a quote from Carmax and carava since they always paid more than typical dealers and I get the feeling they still do. Plus it can be used as a bargaing tool to say carmax offered this, if you want my car it’ll be blah blah blah. This is probably the first time in a long time where car owners have the upper hand. Last edited by buster84; 04-13-2021 at 10:12 PM.. |
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04-14-2021, 02:46 AM | #11 |
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The dealer I've gotten my last two M cars from.. cold called me and basically asked me to trade in my '20 Heritage Edition for one of the 4 M3/4s they have sitting on the lot. He said he could get me into one for the same monthly payment I'm making now and no cash needed down. I politely declined. They know they have turds on their hands.
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04-14-2021, 07:18 AM | #12 | |||
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I'll have a number of months to decide. |
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04-14-2021, 07:23 AM | #13 |
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Porsche prices are stupid too so it doesn’t make sense to trade up.
I was looking at a manual low mile 2016 GTS. It was the last NA 911 with a back seat so I can take the kids. It was in the low $90ks in 2019. Now it’s like $20-30 k more. |
04-14-2021, 07:27 AM | #14 |
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exactly. its sell high and buy high so whats the point.
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04-14-2021, 09:07 AM | #15 | |
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The politics of banning stuff is well rehearsed and can be seen in other countries, like Spain in Europe. 20 year old cars are banned from major cities like Barcelona, so friends who live there have gone from one car to zero once their older car (year 2005 diesel passenger car for example) is no longer legal to use. As usual, the people getting fucked are the poor bastards who don't have money. People with money can always buy a Taycan or something and continue to drive around. You can be sure the future in the US entails massive restrictions on private vehicle ownership. If not an outright ban, they will simply make it cost prohibitive. |
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04-14-2021, 09:17 AM | #16 | |
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04-14-2021, 10:18 AM | #17 | |
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04-14-2021, 10:36 AM | #18 | |
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Suprisingly that camery barley has 15k miles on it out of curiosity I just went online and Carvana actually offered me $25,300 for it. Wow im shocked, 3 years old and I could sell if for what i paid. Even the M4 that I just bought for $38,900 could be sold today for what I just paid at a dealer last month. Usually I'd expect to have overpaid, but I guess my buy was just right. The dealer must have gotten this car at a hella of a trade in price then. For anyone wondering, carvana only asks you a few basic questions and gives you an offer if your curious what they'd offer you. Also rates change based on zip codes/states.
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04-14-2021, 10:38 AM | #19 |
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one reason why F8X prices may be increasing==>
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04-14-2021, 12:13 PM | #20 | |
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04-14-2021, 12:23 PM | #21 | |
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04-14-2021, 12:26 PM | #22 |
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The end of the ICE age is 9 years away in the UK and four years away in Norway 😢
https://www.theguardian.com/environm...hicles-to-2030 |
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