The lack of M5's and M6's on the market....
Discussion
Back in November in checked the classifieds and saw there was a glut (exaggeration maybe) of M5's and M6's on the market. Some were as low as £23,995 (M5's). Fast foward 2 months, we're in a bigger financial hole, people have been hit EVEN harder yet...all the M5's and M6's have dried up in the classifieds.
Have they all been sold?
Call me cynical but I think nobody can sell them - or very few people have been successful in doing so - and have thus taken them off the market. Even the quite well-off are capping their spending and won't be making so many extravagant purchases.
The reason why I bring this up is because I talked to two dealers last week and they both gave conflicting stories. One said they are selling lots of high-end cars and they are being snapped up as 'investments' (scoff). My cynicism was further compounded when the only people in the showroom were myself, the sales guy and staff.
The other man I talked to said they were seriously struggling even 'bargain' price motors like Cayennes, M5's etc because nobody had the excess cash/credit to finance the purchase.
What say you; I say the latter.
Have they all been sold?
Call me cynical but I think nobody can sell them - or very few people have been successful in doing so - and have thus taken them off the market. Even the quite well-off are capping their spending and won't be making so many extravagant purchases.
The reason why I bring this up is because I talked to two dealers last week and they both gave conflicting stories. One said they are selling lots of high-end cars and they are being snapped up as 'investments' (scoff). My cynicism was further compounded when the only people in the showroom were myself, the sales guy and staff.
The other man I talked to said they were seriously struggling even 'bargain' price motors like Cayennes, M5's etc because nobody had the excess cash/credit to finance the purchase.
What say you; I say the latter.
main dealers are not stocking M5's or M6's at the moment and are in no rush to take hem in p/e for money sellers want.
There are some good cars on sale at the moment, but over the last six to eight months the number of cars sold new has slowed dramatically and the sellers today are worried about actually getting any money.
A viscious circle, but if you have the cash now is the time to buy....that Alpina B5S is on my 09 wishlist!
There are some good cars on sale at the moment, but over the last six to eight months the number of cars sold new has slowed dramatically and the sellers today are worried about actually getting any money.
A viscious circle, but if you have the cash now is the time to buy....that Alpina B5S is on my 09 wishlist!
I have been looking at M5 and M6 cars and have found the same as you,
I visited a BMW sales guy who i know quite well and he advised me to wait until at least March/April time as they are just dropping in price so much!
I looked at an old Top Marques mag (May 08) and a 05 or 55 plate was selling for around £45k to £50k but now they are going for around £27k to £30k now that is scary!
I am looking for an M5 07 or 57 and am seeing prices for around £40k but how much more can these cars drop?
From what i can see is,
Car owners owe more than the car is now worth and to sell it they would also have to pay back some cash as well which know one wants to do!
Even people with a very good credit history are not getting the finance on high end cars as the banks dont want to take the risk any more!
Main dealers are not in a good position and are only giving stupid trade in prices!
Know one knows how bad things are going to get this year so know one is buying cars!
People like me are just waiting to see what they are going to drop to before buying one!
So until the economy gets better i feel high end cars are going to just keep dropping,
BUT I WANT ONE NOW!
I visited a BMW sales guy who i know quite well and he advised me to wait until at least March/April time as they are just dropping in price so much!
I looked at an old Top Marques mag (May 08) and a 05 or 55 plate was selling for around £45k to £50k but now they are going for around £27k to £30k now that is scary!
I am looking for an M5 07 or 57 and am seeing prices for around £40k but how much more can these cars drop?
From what i can see is,
Car owners owe more than the car is now worth and to sell it they would also have to pay back some cash as well which know one wants to do!
Even people with a very good credit history are not getting the finance on high end cars as the banks dont want to take the risk any more!
Main dealers are not in a good position and are only giving stupid trade in prices!
Know one knows how bad things are going to get this year so know one is buying cars!
People like me are just waiting to see what they are going to drop to before buying one!
So until the economy gets better i feel high end cars are going to just keep dropping,
BUT I WANT ONE NOW!
Also remember you are not talking about a mass produced high volume car... there's not many around and those that wanted to shift out of them probably have by now.
At the end of the day most are probably out enjoying them :-)
What's goign to be more worrying (and why I bought in Nov 08 rather than later in 09) is that cars being held by those that ARE in a financially difficult position will not be looked after.
If you find one now I'd say buy it and enjoy... waiting for someone else to begrudgingly have your future purchase sit on a drive and not look after it so you can stripe a couple of grand off isn't a sensible move in my opinion
especially on something as extreme as an M5/M6
At the end of the day most are probably out enjoying them :-)
What's goign to be more worrying (and why I bought in Nov 08 rather than later in 09) is that cars being held by those that ARE in a financially difficult position will not be looked after.
If you find one now I'd say buy it and enjoy... waiting for someone else to begrudgingly have your future purchase sit on a drive and not look after it so you can stripe a couple of grand off isn't a sensible move in my opinion
especially on something as extreme as an M5/M6
I was just about to start a topic "Where have all the M6's gone?" then noticed this thread.
A lot have definitely disappeared from the market - there is now only 1 M6 coupe on the BMW AUC site - a few weeks ago there were 8-10. Similarly with pistonheads classified and autotrader, many less cars on each. Presumably all this indicates that the ones for sale have found buyers and not simply been shunted around the trade.
A lot have definitely disappeared from the market - there is now only 1 M6 coupe on the BMW AUC site - a few weeks ago there were 8-10. Similarly with pistonheads classified and autotrader, many less cars on each. Presumably all this indicates that the ones for sale have found buyers and not simply been shunted around the trade.
Good point: same thing across the whole vending landscape for uber value, big bore grunting.
I reckon much of this is to do with peoples' belief that petrol (now down to the levels of 5 years ago and) whilst still a racket, has engendered these vehicles with a critical degree of marginal 'affordability,' so they've been snapped up or yes, withdrawn in the face of unconscionable waves of attemped Micahelangelo extraction.
Tbh, anyone who has driven one of these in reasonable anger knows that anything less than thirty large is stupendous wonga and frankly, potential punters should now better.
I was in the 6 y/day with traction issues in 4th: to coin a Clarksonism, it really is a "biblical" brute.
Grrr.
I reckon much of this is to do with peoples' belief that petrol (now down to the levels of 5 years ago and) whilst still a racket, has engendered these vehicles with a critical degree of marginal 'affordability,' so they've been snapped up or yes, withdrawn in the face of unconscionable waves of attemped Micahelangelo extraction.
Tbh, anyone who has driven one of these in reasonable anger knows that anything less than thirty large is stupendous wonga and frankly, potential punters should now better.
I was in the 6 y/day with traction issues in 4th: to coin a Clarksonism, it really is a "biblical" brute.
Grrr.
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