[Legit]

My 2024 M2 with 7K miles (MSRP 68K Manual, most options, without Carbon package)was appraised by two Texas BMW dealers for 56K. Much lower than I anticipated. I knew I would lose money buying this car and that's part of the game, I have no problem with that but at the same time I didn't think my car would drop that fast and far in value. KBB doesn't seem to be accurate saying I should get 60 or more.

Anyone recently get their car appraised anywhere for trade in?
If so how much

[DrJLag420]

I didn’t think these would hold their value especially with the ‘25’s coming out. Still, seems like they are lowballing you. Dealers gonna deal…

[DrewNewM2]

BMW depreciation is pretty bad but still think it’s Dealer lowballing. Get a Carmax or Driveway, Carvana, estimate etc?

[two_three_two]

you eat 40-50% of depreciation in the first three years, with ~20% of that coming in the first year. if you paid approx. 80, i'd expect dealer trade in after one year to be approx. 60.

actual trading hands prices, BAT is a decent gauge.

example 1: https://bringatrailer.com/listing/2024-bmw-m2-2/
1,600 miles, 67,445$ MSRP, sale price of 58k (14.7% depreciation), 60,900$ with buyers fee (10.4% depreciation)

example 2: https://bringatrailer.com/listing/2024-bmw-m2-4/
3,600 miles, 70,695$ MSRP, RNM at 62,000$ (12.2% depreciation) 65,100 with buyers fee (~8% depreciation) granted, this one has some mods, and was still firmly a current model year car when it inexplicably went RNM here.

as i've held here before, lower option cars will likely do better for owners when the time comes to move on. to directly answer your question, my car has BSM, carbon roof, heated wheel, park assist, and aluminum trim - 67,995 MSRP - and my sales guy threw out a 55-58k range last time i saw him if i wanted to flip into a 25 or a G80. its a 24 with ~12k miles when he saw it last. so a range of 19.1% depreciation to 14.6%.

[JMcLellan]

I don't think KBB has enough used market data to accurately appraise trade in, and private party values. About 1 month ago KBB gave me a private party value range of $69K to $71K. Today I looked and it has come down a little bit with private party value of $64K to $69K. Trade in estimate is $60K to $65K. Sticker price on my car was $68,500.

$56K from dealers for trade in doesn't seem far off plus you have 3K more miles than I do but I wouldn't take that number.

There was 1 local 2024 M2 for sale at a BMW dealer (4k miles on it, black, 6mt, no carbon package). Price started at $69,900 and it sat for a few weeks while the price came down. The last price point when it sold was at $65K. Currently, there are zero used G87's in my market, and only 2 new 2025's in transit but assuming they are spoken for. Depending on the market a dealer could offer much more or much less. There are probably buyers where I am at that would be willing to pay $65K, or more, for a used G87 if that is their only available option to get one now. If I were to sell my car I would go the private party sale route to maximize the return. This all assumes similar spec and price to my car. I don't know what resale looks like for folks with the carbon package.

And who knows how long this port strike will last and how that will affect the market on incoming 2025's. Maybe there will be a small spike in demand for used G87's while all that gets sorted out.

[two_three_two]

Originally Posted by JMcLellan

I don't know what resale looks like for folks with the carbon package.

And who knows how long this port strike will last and how that will affect the market on incoming 2025's. Maybe there will be a small spike in demand for used G87's while all that gets sorted out.

probably the only option (other than standalone carbon roof and transmission choice) that materially impacts resale.

and yes, i would agree if the port strike goes on for a while (last one was i wanna say 8 months) you'll see trade in value get bumped up as dealers get desperate for inventory (again)

[JMcLellan]

Originally Posted by two_three_two

probably the only option (other than standalone carbon roof and transmission choice) that materially impacts resale.

and yes, i would agree if the port strike goes on for a while (last one was i wanna say 8 months) you'll see trade in value get bumped up as dealers get desperate for inventory (again)

Do most people just go the trade-in route and not sell on their own? I keep thinking that the dealers getting desperate will also mean private party buyers would be desperate and someone with a used G87 could find someone who really wants the car and get a nice check of cash for it. I have sold 4 cars/trucks, and 2 ATV's in the last 4 years using facebook marketplace and the forums. Can't imagine how much less money I would have gotten if I traded all that stuff in. Admittedly though Covid supply chain issues made my process easier than in years past as there was solid demand.

[idriveuscream]

If the appraisal was $56k cash for your M2 from a dealership, based on a $68k msrp, I am shocked they would give you that much. Dealership needs to make a profit plus overhead, so they need to sell it for $59k minimum, not a penny less. M2 is used with 7k miles.

[two_three_two]

Originally Posted by JMcLellan

Do most people just go the trade-in route and not sell on their own? I keep thinking that the dealers getting desperate will also mean private party buyers would be desperate and someone with a used G87 could find someone who really wants the car and get a nice check of cash for it. I have sold 4 cars/trucks, and 2 ATV's in the last 4 years using facebook marketplace and the forums. Can't imagine how much less money I would have gotten if I traded all that stuff in. Admittedly though Covid supply chain issues made my process easier than in years past as there was solid demand.

i would say most people do that, yeah. it makes logistics super easy (i drop off old car and pick up new car on same day) and you dont need to worry about prepping the car for sale, gathering service records etc. and some folks just dont care about the hit they take - the convenience is worth it to them.

if you tend to drive specialty vehicles that dont get a fair shake via black book values (that'd be me) you sell private party. I have taken to listing on BaT (for the nice stuff) or CnB (for the... less nice stuff) at no reserve to get stuff off my plate recently. present the car fairly and honestly and let the free market decide the value. when i move my mk4 R32 (likely soon) thats probably what i will do as well.

[two_three_two]

Originally Posted by idriveuscream

If the appraisal was $56k cash for your M2 from a dealership, based on a $68k msrp, I am shocked they would give you that much. Dealership needs to make a profit plus overhead, so they need to sell it for $59k minimum, not a penny less. M2 is used with 7k miles.

cheapest G87 i can find nationally right now is a zero option 6MT ZB with ~6k miles listed at 60,700$

[fzr100098]

ZB is an extra $5k discount haha - hate that color

[two_three_two]

Originally Posted by fzr100098

ZB is an extra $5k discount haha - hate that color

i'm trying to pull together some common threads on used cars and values without actually doing some data work- but its just all over the place. theres none cheaper than 60 and none more expensive than 73. theres a frozen grey over cognac in MA with 611 (!!) miles for 69k with an auto. the most expensive one is BSM over m color highlights with a stick. i didnt see a single carbon pack but that doesnt mean they arent there.

OK i was curious so here's the numbers based on a nationwide autolist search. bad news for the ZB boys, and likely good news for team BSM

min: $60,700 (ZB)
max: $73,285 (BSM)

total: 98
ZB: 28 (28.5%)
TR: 17 (17.3%)
BG: 19 (19.4%)
AW: 17 (17.3%)
BSM: 15 (15.3%)
FG: 2 (2%)
FPB: 0

manual: 59
auto: 39

[NoMoreVW]

Originally Posted by JMcLellan

And who knows how long this port strike will last and how that will affect the market on incoming 2025's. Maybe there will be a small spike in demand for used G87's while all that gets sorted out.

Port strike and the flooded cars currently sitting at the port….

[rons e92]

FWIW, my insurance company offered me nearly $68k for my flooded 2023 M2.

Sticker price was just over $70k and the car had over 15k miles on it.

[ednir98]

Originally Posted by two_three_two

bad news for the ZB boys, and likely good news for team BSM

min: $60,700 (ZB)
max: $73,285 (BSM)

I've heard a handful of reviewers say that BSM makes all the "strange" geometry more palatable. I suspect people who just want the drivetrain and tech will go for black or grey. I went BSM but mostly because I don't want to be noticed.

[two_three_two]

Originally Posted by ednir98

I've heard a handful of reviewers say that BSM makes all the "strange" geometry more palatable. I suspect people who just want the drivetrain and tech will go for black or grey. I went BSM but mostly because I don't want to be noticed.

yes. IMHO it looks the best (skyscraper is a close second) and makes me as invisible as possible in a car styled to deliberately stand out. remember, no bumper stickers, no vanity plates, no plate frames, no whacky colored tow hooks or goofy vortex generators... all they can describe it as is a black coupe- good luck with that, officer

also looks like the secondary market may agree. i find it hard to believe it is the lowest production color of the OGs, and yet is the color with the fewest currently available used.

[ednir98]

Originally Posted by two_three_two

remember, no bumper stickers, no vanity plates, no plate frames, no whacky colored tow hooks or goofy vortex generators... all they can describe it as is a black coupe- good luck with that, officer

I know it all too well, maybe even underbadge it Cannonball style #regulartrafficgang

[laughMan]

last 2-3 years was golden days for car holding their values!!

You could buy a performance car at MSRP and drive it for a year with low milage and sell/trade it for around MSRP!

[kudos]

The quicker the price falls the less my yearly "property tax" in Virginia is. Drop drop drop!

[rons e92]

Originally Posted by laughMan

last 2-3 years was golden days for car holding their values!!

You could buy a performance car at MSRP and drive it for a year with low milage and sell/trade it for around MSRP!

This is pretty much how I was able to get into my G87.

2020 WRX Limited > 2017 330i > 2022 M240i > 2023 M2 > 2025 M2

The longest I owned any of these cars was 13 months. The mileage was on average about 18k, but I put almost 30k on the 330i. The 330i was the only car I didn't buy new.

Because they weren't depreciating I was able to just add more cash a year later and upgrade. I only lost $4k in value on the 330i and that's because I sold it to my dad's friend for a good deal. I made that back when the dealer paid me $5k over book value for the G42.

Even with the base value of my M2 that got flooded, I only lost less than $4k. I'm not going to count the $5k adm I paid for the M2 because that was a scam fee.

[two_three_two]

Originally Posted by ednir98

I know it all too well, maybe even underbadge it Cannonball style #regulartrafficgang

yeah, ive been debating painting my exhaust udder just for additional stealth, but i dont want to take it too far and accidentally murder it out. a little silver balances it out, all black and you're back to the same problem

[minn19]

Originally Posted by ednir98

I've heard a handful of reviewers say that BSM makes all the "strange" geometry more palatable. I suspect people who just want the drivetrain and tech will go for black or grey. I went BSM but mostly because I don't want to be noticed.

At risk of getting banned, this is also why I chose BSM. I’m not exactly enamored with the front end look to say the least. I’ve nicknamed my car Marla from “A League of Their Own.”

I do like them in Toronto Red and wish I wasn’t a chicken and went for frozen Portimao Blue. Didn’t feel like dealing with that just yet, especially since I intend to drive my car in all conditions, including some MN winter driving.

Next spring, I’m going to look into some mods that hopefully make it look better for my own taste.