I’ve been noticing some M2 Competitions on the BMW website around 3k-4k miles listed around 58-59k. The cheapest M2 Competition used under 5k miles is sitting at ~53k (at a honda dealer so probably not leasable). My question is if any of you have had any experience trying to hack one of these cars. I know that the M2 does not lease well, but perhaps I could negotiate a demo deal. Any idea of what a fair selling price for a demo with 3k miles might be? I wish there was loyalty but sadly there is not on this model. Worth noting that a new M2 competition from a broker on this site ive seen have a selling price of 57k.
A demo needs to be at a BMW dealer, be titled as a rental or corporate fleet, have less than 5k (for incentives and better RV), or not titled at all. Read the wiki for more specific language I put there. There is loyalty go to bmws special offer site, type your zip in and find out specifically or go to forum,edmunds,com and make a post asking for the m2’s specifics.
Broker wise, @mani_is_kool and @Bacons_C.C for FL. @IAC to shop from Texas, they are all awesome.
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Don’t bother, the car has no incentives and the lowest (aka closest to reality) RV of all BMWs on the market, it won’t lease well no matter what. Dealers aren’t having a hard time selling those for cash.
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I wish they had incentives for the M2C. The total lease cost ends up working to $25-30k for a 36 month lease. Best bet would probably buy one from CarMax when it comes out (one of the ones that pops up for under 50 occasionally) and sell it after 3 years if you really wanted an M2C
Put your imaginary numbers on a calculator. Try 13-14% off msrp and see what monthly payment you come up with. If you are happy with those numbers start contacting them.
A member had close to 11% off recently for a new car. With the mileage penalty of your demo car a new car might make more sense. Put numbers in the calculator and compare them.
Be very cautious when it comes to low mileage M cars. BMW uses the M cars at the M drivers school then they go to auction after a refurb but the cars were tracked their whole life. (I’m not actually sure how they get past the 1200 mile break in).
For the higher end cars you could often tell by it being fully optioned with the comp package and the Carfax showing a NJ registration.
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All great advice, thank you! I agree that it definitely doesn’t make sense to pour in 30k for a 36 month lease for one of these. Also an interesting point brought up by @Cyberdemon , I actually wouldn’t mind a car like that as long as the payment was low enough and it was still covered under warranty. Probably wouldn’t want to own one of these outside of the warranty period anyways.
But this also describes cars driven by execs at HQ so how does one differentiate?
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Are the M2 competitons you are looking at CPO or are they demo units? If they are CPO, they have already been titled and are not leaseable.
That’s not exactly true…I leased a BMW that had 16,000 miles on it. It’s a relatively small program that BMW has on the Infobahn system. It didn’t have any incentives and wasn’t a particularly great deal all things considered.
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If the car has carbon ceramic brakes it’s 99% an event car, that’s what I look out for
They are not an option on the M2. Do they put them on school cars?
I know, I’m talking about M3/4, M5, M6, M8
I’ve seen both, I actually didn’t know that CPO couldn’t be leased so I’ll look out for that now. I have seen some that didn’t say CPO though.
I think I should clarify, as there is probably some exceptions. If the car has been titled (sold to the dealer itself or a person) it cannot be leased. You can always give them a call to see if it is leaseable through BMWFS.
That’s not always true. For BMW and Volvo at least, some dealers title them as rentals or corprate fleet. No title carfax is a sure indicator, but not the only. Double check with the dealer when asking for numbers, and clarifying if it is a loaner, demo, exec demo, etc. Many dealers do them in different ways, our S60 was clean title, the V60 and V60CC I’ve posted both are corporate fleets.
Examples from a random PA dealer I have memorized. Your message of pre-titled, unwound deals, or something like that is true though. For Volvo, as I’ve been told, Bobby Rahal Volvo owns their own licensed rental car business, they are titled by them, they then retake possession after reaching the loaner policy limits, sell them as CPO and are allowed to lease them via VFS (told to me by their GM, no clue if it’s correct).
I can’t speak for other brands, I haven’t done nearly as much legwork for Merc, Audi, or any other brand than I have for BMW and Volvo.
https://www.carfax.com/VehicleHistory/p/Report.cfx?partner=dlr_3&vin=3mw5r7j5xk8b03320
I was told by school instructors they are supposed to disclose this, but I don’t know that always happens. Easiest way is to ask.
Either way, you just need to decide if saving a few grand on an M car that isn’t broken in by you is worth it.
But either way those cars likely aren’t leasable from what was discussed.
I guess every dealer is different. That seems like a very odd circumstance, but there must be a reason behind the different ways in which loaners are added to a fleet.
Still, OP, just call the dealer with the stock number ready and ask if that is a loaner ready for sale.
That might be me that you’re talking about. I looked at leasing and it just didn’t make a ton of sense, as others had mentioned. I switched my mindset to buy, since people genuinely rave about this car and maybe it’ll hold it’s value in the end if I don’t keep it forever. I came across a couple demo/exec loaners in my search and they had sat on the lots for MONTHS… one that was an unwound deal and not a demo sat on the lot of a YEAR. And the dealerships were eager to move them. At least to the tune of 11% ish range when I stumbled open my brand new deal of about the same.