Is financing 2022 BMW M8 a good move?

Ask the Hackrs Used Cars
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Found a used 2022 BMW M8 comp convertible with 2k miles in flawless condition at the local BMW dealer. Local trade. Found the original owner (don’t ask how) and confirmed he had to relocate out of country and never had any repairs/issues. Has full front PPF. Original msrp 143k and selling at 120k. Tried to sell close to msrp for 1 year and with falling prices now dropped it significantly for a quick sale. I found it when I was test driving new x7 but after driving both - it won my heart with quality of the build and engine/exhaust sound.

I know this car (like all other used luxury cars) will depreciate fast but I also have fedchoice 1.99 rate @84 months (thanks to Hershey) so I figured it could still cut the good deal bar.

I don’t really need this car but couldn’t find a good toy car for a decent deal in the last three months.

Curious what fellow hackers think, yay or nay? I do get more excited about the “deal” than the “car” itself assuming it passes my fun car bar.

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Depends on your financial situation, no one but you has that answer. I would expect eye watering depreciation on it over the next 3 years.

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You seem to know this is a pay to play situation. The money is cheap to borrow.

IMO deal is good depending on your view of the pending market collapse in 2023.

The cars relatively fast/ good GT car/ luxurious and with warranty etc. not much else in this price point

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Spot on. My criteria was either amazing convertible for up to 120k price or cheap lease suv that looks decent. Couldn’t find anything even with improved rates.

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What do you think is the best, avg and worst price after 1,2,3 years?

There is a hope with only EV version of m8 in grand coupe body style going forward, price might not drop as fast.

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They depreciate hard. Tough to say exactly, but at least half IMO, if not more within 3 years. The 7 and 8 series are money pits like any big luxury car. Did you consider a 911? You can pick up a CPO 18’/19’ for around $120k and I bet resale will be better than the newer 8 series in 3 years.

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Prices on M8 will absolutely crater over the next couple of years

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ur welcome :stuck_out_tongue:

A client and close friend of mine had the M8GC that I put him into, and while he loved the car has since moved on. He noted that it felt similar to the M5C he had, but had distinct and different characteristics.

I concur with this thought. I suspect they are going to drop like rocks eventually, just like how 7 and 6 series have.

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Per @wam22 . For value protection maybe a c8 vette or 911 would be better. But both of those are very different sense of car than a luxury grand touring rocket.

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I vehemently disagree. I don’t think C8s will have this value hold forever. Historic depreciation curves are vastly different between the two.

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With zero down, 3 month delay until first payment and with all inclusive payment of 1680, can you really beat anything bang for the buck wrt to power and quality? I am also 6’5’’ and I didn’t fit well in both c8 and Carrera. Even coupe m8 didn’t fit but cloth top gave me extra needed inch :slight_smile: I was hoping since it’s already used and took 23k hit of a new price, depreciation might not be so bad.

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I’d bet for a 1-2 year in and out of a well specced c8 is still safe. But maybe not a 3 year plan.

In 2021 I flipped one. If I held onto to it I think would still be even 1 year later.

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The problem is that in before times, a new M8 was $20k off MSRP and then it depreciated heavily. It is a great value, but be prepared to own it for longer than 3 years.

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You think 3+ years depreciation might help flatten it out to about 10-15K per year vs 15-20 per year for 2-3 years.

In carrera’s case depreciation is likely to be 7-10k per year and c8 seems to be more like 5-10k per year for 2-3 years.

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Isn’t it all a moot point if you don’t fit in the cars you are cross shopping for value.

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Not to be a devil’s advocate for spending more, have you looked at the Audi R8/Lambo Hurrican platform? My friend is 6’1 and easily fits in his R8 'vert, just another baseline to look at potentially?

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Yep! The only other luxury euro convertible I fit comfortably are mad expensive: gtc, sl55, etc

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I considered r8 but it didn’t feel as luxurious inside for some reason, also it doesn’t have rear seats and they worked out perfectly since I have 7 year old who can seat behind wife and 1 year old behind me (no leg space)

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FedChoice doing members good. Should offer a leasehackr promo.

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I’ll have to think for a sec on that one, rear seats, fit someone who’s 6’5, and need to fit a 7yr old and a baby seat into it.

Edit: Post '18 S class convertible? If the interior works for you should meet all the criteria. Starting to depreciate, can find one CPO, it should fit someone your height, and have plenty of room for a. kid and carseat.

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