Quote:
Originally Posted by RockCrusher
Price is not fact only an opinion.
I suspect that M2 at your local dealer -- somewhere in Minnesota I take it -- is going to sit on the lot for a long time, months.
General rule of thumb is research the car's trade in value -- which will almost certainly be higher than what the dealer allowed for the car. (Dealers don't go by the "book" but like to say they get their numbers from the "back of the book". But the publicly available trade in value gives you some idea of what the dealer has in the car. That new of a car it needed nothing other than a detail to make sale ready.
The trade in value then is where you start your negotiation.
Keep in mind the dealer is paying a flooring cost of (estimated) $250/month. Sure he may have paid for the car out of his cash reserves but still the (I estimate $60,000 trade in value) at 5% a year works out to $250/month of interest income he forfeits to floor the car every month.
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I don't think there is enough history with the G87 M2 to have accurate trade in values. I only spent about 5 minutes researching values so maybe someone else has more insight but here is what I saw: KBB won't provide any values, and Edmunds spit out a range from 51K to 53K-- low 50's might be the case for "normal" car depreciation but we are dealing with a new car where the demand for them exceeds the supply.
I agree with you that this M2 local to me will sit for a while. It's been at the dealer for about 5 weeks and already has had a couple price drops.