M2 used prices post Competition

[Danm1les]

Have been looking at these over the last couple of days, the one below has caught my eye with the spec and mileage.

https://www.autotrader.co.uk/car-details/202105072...

However reading through some of this thread it might be a bit strong price wise? I appreciate its from BMW, which would be my preferred method to purchase.

[nickfrog]

Danm1les said:

Have been looking at these over the last couple of days, the one below has caught my eye with the spec and mileage.

https://www.autotrader.co.uk/car-details/202105072...

However reading through some of this thread it might be a bit strong price wise? I appreciate its from BMW, which would be my preferred method to purchase.

It seems in line with the market as it is high spec and low mileage. Buying from a BMW dealer does give you a superb warranty that basically matches the original warranty and is worth £1,300 (which will be the price at renewal), or even more if you want to buy the warranty on a car outside the network that hasn't had the warranty extended.

Alternatively this is higher miles but LCI https://usedcars.bmw.co.uk/vehicle/202105062270291...

(I am sure you've spotted it already).

[Danm1les]

nickfrog said:

It seems in line with the market as it is high spec and low mileage. Buying from a BMW dealer does give you a superb warranty that basically matches the original warranty and is worth £1,300 (which will be the price at renewal), or even more if you want to buy the warranty on a car outside the network that hasn't had the warranty extended.

Alternatively this is higher miles but LCI https://usedcars.bmw.co.uk/vehicle/202105062270291...

(I am sure you've spotted it already).

Hadn't spotted it, also works out £35 a month cheaper on the same PCP terms, suppose the RV is that much better at the other end!

I saw online a comment about the road tax on pre and post LCI cars? Is there that much variance?

[PTF]

Danm1les said:

Hadn't spotted it, also works out £35 a month cheaper on the same PCP terms, suppose the RV is that much better at the other end!

I saw online a comment about the road tax on pre and post LCI cars? Is there that much variance?

What are the PCP rates like? At BMW's standard rate of 8.9% on a £30k car that could be £200+ p/m just in interest

[nickfrog]

Danm1les said:

Hadn't spotted it, also works out £35 a month cheaper on the same PCP terms, suppose the RV is that much better at the other end!

I saw online a comment about the road tax on pre and post LCI cars? Is there that much variance?

It depends if the car is pre or post April 2017 from memory rather than LCI. I have a pre April car and it's £315

The post April cars will be £155 BUT with a £335 surcharge for the 5 years after the first year.

In other words breaking even depends on how long you keep the car.

I wouldn't use the PCP facility at those high rates. Particularly as those cars may hold their value well, despite the recent hikes.

[Danm1les]

I'd be looking at PX'ing my current car which has a value of around £10k and then PCP'ing over 3 years at 10000 miles a year. Makes it come in at around £250 a month.

Via someone like Magnitude finance at 6.8% it comes in at £242 a month over 3 years.

[nickfrog]

Check if they offer you as much as WBAC. Consider a personal loan at around 3%, even if that means taking out two loans. I have never done PCP so I might talking out of my proverbial but owning it might also give you more flexibility and might not tie you in to the final value thing.

[Danm1les]

nickfrog said:

Check if they offer you as much as WBAC. Consider a personal loan at around 3%, even if that means taking out two loans. I have never done PCP so I might talking out of my proverbial but owning it might also give you more flexibility and might not tie you in to the final value thing.

Thanks, I'll have a look. I would 100% rather own it via a loan which etc, gives a lot more flexibility too. Shall see what I can find.

[95JO]

nickfrog said:

Easily.

I am wondering if M2 manuals aren't going to be long term low depreciators. Recently there were more 1Ms than manual M2s AUC.

I hope so, it'll help balance it out for me as I'll be putting big miles on mine

[nickfrog]

95JO said:

I hope so, it'll help balance it out for me as I'll be putting big miles on mine

Well the manual M2 market has truly gone mad. There are only x5 AUC manual non-Comp cars nationwide, starting at £36k.

[PTF]

Yeah it's not a great time to be buying.

I currently have an M135i (2013, 3dr, manual, base spec, 75k miles). It's a cracking bit of kit and faultless. But i'm looking to scratch the M-car itch.

So far i've tried a 2016 M4 DCT, which was £33k as an AUC with 27k miles. Loved it, but i dithered and was beaten to it by 2 hrs. I was unsure about its carbon brakes and potential costs as i intend to do the odd trackday. Unsure on DCT too.

Then tried a 2019 M2 Comp DCT and TBH i really wasn't blown away by it. An AUC again, so £42k ish (i.e. £30k plus my M135i) and i couldn't get over how it just felt like a newer version of what i already own outright. The DCT was really dim-witted, laggy and clunky. For me i'd have preferred the ZF8 or a manual box.

So now mulling over a manual M2 or M4. Couple of M4s for late-20s privately, but not much as an AUC. M2s are firmly at £35k for a 2016-2017 car, which is quite hard to swallow when they were mostly £29,995 pre-covid!

I'm now thinking about simply not bothering, or maybe making a slight upgrade to an M140i with ZF8 and all the bells n whistles, but still half the price of the M2 comp.

First world problems and all that...

[TheGreatDane]

^^ Seconded.

I was looking at F80s in April and non comps were 26-28k for a good one below 60k miles (for warranty purposes).

Now they are £35k+.

I'm holding out till Jan at the latest and then pulling the trigger.

First world problems indeed.

[as7920]

Sold my M3 in June for a decent price.

Been driving a crap Golf since and want my M3 back

Hasn't gone up in value much since selling but would set me back an extra £5k to get an equivalent from a main dealer now. And there's nothing else out there like it.

Everything else has gone up in value, wanted to move into a Boxster or Cayman but they have increased by £5k to £7k too.

Market is madness ATM.

Even my Golf has gone up by £1,700 in a few weeks.

[Court_S]

nickfrog said:

Well the manual M2 market has truly gone mad. There are only x5 AUC manual non-Comp cars nationwide, starting at £36k.

Had a look again the week too and couldn’t believe how expensive they are now. That’s £10k since March last year abs limited options. Sod that.

At one point there were a decent selection of AUC M2’s from about £26k.

A decent 2016 plus M4 was sub-£30k but now 14 plate cars are £30k plus.

I’m still amazed that my two year old M140i sold for c.£26k, £2k less than I paid for it.

Edited by Court_S on Friday 24th September 11:40

[PTF]

Well, i've caved and put a deposit on a manual OG M2. Miles a bit higher than i'd like at 45k ish, and it's not an AUC, but from a respected dealer. £32k, so saving £4k over an AUC. There's definitely a "covid premium" in there, but not as bad as it could have been

Flip side is we're going to keep the M135i for my wife and let WBAC have her focus. They are offering almost the same for it as she paid from a main dealer 18 months and 20k miles ago.

So all-in the cost to change between the two is broadly similar to pre-covid. Prev it would have been £8k-£9k for her car and £28k-£30k for the M2. Now it's £11k and £32k.

Happy with that.

OG M2 in long beach blue has been a car i've wanted for 5 yrs, so excited like a 6 yr old before christmas!!!

[Court_S]

PTF said:

Well, i've caved and put a deposit on a manual OG M2. Miles a bit higher than i'd like at 45k ish, and it's not an AUC, but from a respected dealer. £32k, so saving £4k over an AUC. There's definitely a "covid premium" in there, but not as bad as it could have been

Flip side is we're going to keep the M135i for my wife and let WBAC have her focus. They are offering almost the same for it as she paid from a main dealer 18 months and 20k miles ago.

So all-in the cost to change between the two is broadly similar to pre-covid. Prev it would have been £8k-£9k for her car and £28k-£30k for the M2. Now it's £11k and £32k.

Happy with that.

OG M2 in long beach blue has been a car i've wanted for 5 yrs, so excited like a 6 yr old before christmas!!!

Good stuff, will be interesting to hear your thoughts on how the two cars compare. My M140i missed the mark for me but I’m still drawn to the M2 (or an E9x M3) for my next car. Just hoping some normality returns to the market for when I have itchy feet.

[PTF]

Court_S said:

Good stuff, will be interesting to hear your thoughts on how the two cars compare. My M140i missed the mark for me but I’m still drawn to the M2 (or an E9x M3) for my next car. Just hoping some normality returns to the market for when I have itchy feet.

Will post back. I did sit in an OG M2 a few weeks ago at a main dealer and couldn't get over how it felt so much like my 135 inside yet was £36k. And that particular car was abused.

But the journey of trying an M4 and M2 comp has been interesting.

M4 felt different enough to the 135 to justify changing, but i didn't like the DCT and it felt quite grown up and i'm not keen on the bad boy image. "Proper" engine though, and felt very special to drive, and i loved the HUD. But carbon roof limits the ability to add roof bars without drilling the carbon (i carry bikes fairly often).

I considered an M4 with a sunroof to allow the fitment of roof bars, but i hate sunroofs. I found an M4 with a sunroof within budget, but it turned out to be a bit of a dog. Really bad paint. And unloved. Not much choice of sunroof'd M4s out there

Also i worry about depreciation on M4s, esp a sunroof'd one as the carbon roof us a good sellung point. BMW themselves put the GFV at £10k-£11k on a 2016 M4 after 4 yrs, which us a big drop from £33k. They made lots more, which bothers me.

So that naturally led to the M2 comp. Same S55 engine so i assumed would feel just as special. Plus no carbon roof so is good for roof bars. But it just felt a bit quiet and unexciting. I hate the "udders" (the rear box) hanging down at the rear. The back end is the best view of the car and is spoilt IMO. Even if i could get past that, i'd want a manual and they're £45k+.

A trip out in the 135 made me question whether the reworked N55 in the OG M2 would feel like a let down after trying the S55 in the M4 and M2 comp. But i don't think it will. And i'm comfortable at £32k, where £45k would have kept me awake at night!

Residuals on the OG M2 i would hope to be strong, esp with manual box, so that kibd of sealed the deal.

I don't like the seats in the OG M2, but i have kids so at least they're hard wearing! At some point i will fit M2 comp seats.

Been an interesting journey

Edited by PTF on Saturday 25th September 09:32

[Square Leg]

I’ve been mulling over changing my M2C for an X3M, but just don’t think I really want to enough.
M2 is coming up to 3 years old and 14k miles, got it just how I want it with the Milltek on, so may as well keep it until the new M2 arrives and see how that is.
Had an offer to buy mine now for £40k but there’s no point selling now.

[MarkM2]

Square Leg said:

I’ve been mulling over changing my M2C for an X3M, but just don’t think I really want to enough.
M2 is coming up to 3 years old and 14k miles, got it just how I want it with the Milltek on, so may as well keep it until the new M2 arrives and see how that is.
Had an offer to buy mine now for £40k but there’s no point selling now.

I'm seriously torn at the moment, I would LOVE to keep this M2C forever and a day, it's only done 9k, BUT the wife and I can go down to one car now, I'm barely driving it, I got a 13k discount new on it, and after almost three years the dealer I bought it from is offering 1k less than I bought it for. Which won't last forever, petrol's going up, extended warranties in a few months for a car that's barely driven - what's a man to do!! But I know I'll probably shed a tear if I sell it (MTFU!).

[Court_S]

PTF said:

Will post back. I did sit in an OG M2 a few weeks ago at a main dealer and couldn't get over how it felt so much like my 135 inside yet was £36k. And that particular car was abused.

But the journey of trying an M4 and M2 comp has been interesting.

M4 felt different enough to the 135 to justify changing, but i didn't like the DCT and it felt quite grown up and i'm not keen on the bad boy image. "Proper" engine though, and felt very special to drive, and i loved the HUD. But carbon roof limits the ability to add roof bars without drilling the carbon (i carry bikes fairly often).

I considered an M4 with a sunroof to allow the fitment of roof bars, but i hate sunroofs. I found an M4 with a sunroof within budget, but it turned out to be a bit of a dog. Really bad paint. And unloved. Not much choice of sunroof'd M4s out there

Also i worry about depreciation on M4s, esp a sunroof'd one as the carbon roof us a good sellung point. BMW themselves put the GFV at £10k-£11k on a 2016 M4 after 4 yrs, which us a big drop from £33k. They made lots more, which bothers me.

So that naturally led to the M2 comp. Same S55 engine so i assumed would feel just as special. Plus no carbon roof so is good for roof bars. But it just felt a bit quiet and unexciting. I hate the "udders" (the rear box) hanging down at the rear. The back end is the best view of the car and is spoilt IMO. Even if i could get past that, i'd want a manual and they're £45k+.

A trip out in the 135 made me question whether the reworked N55 in the OG M2 would feel like a let down after trying the S55 in the M4 and M2 comp. But i don't think it will. And i'm comfortable at £32k, where £45k would have kept me awake at night!

Residuals on the OG M2 i would hope to be strong, esp with manual box, so that kibd of sealed the deal.

I don't like the seats in the OG M2, but i have kids so at least they're hard wearing! At some point i will fit M2 comp seats.

Been an interesting journey

Edited by PTF on Saturday 25th September 09:32

I was kind of out off the OG because of how close inside it is to an M135/40 but that feels like much less of an issue now the 140i has gone and I’m in an old 130i.

The M3/4 feels like a step up interior wise but they also feel quite big. I think the M3 looks better but are far rarer. The residuals on the M3 look cack too as you said. The early cars are supposed to be pretty spiky so that narrows the pool to 16 plate plus cars but they’re strong money now be the poor residuals don’t make that appealing.

Whilst I appreciate the performance of the S55 I struggle with the noise it makes whereas the N55 in the OG sounds lovely to my ears. The power will be fine because I rarely wanted more power than my 140 had. What I wanted was better looks and more nose. I too hate the udder on the comp cars.