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The 2 Series coupe is the replacement for the E82/E88 1 series coupe. Production starts in November 2013 on the 228i (N20) and M235i (N55) coupes. Look for them in dealerships in February 2014. The convertible F23 2 series will follow in the fall of 2014.

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  #1  
Old 11-25-2019, 10:18 PM
sttkailua sttkailua is offline
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2017 M240 Worth How Much???

So, my 2017 M240 will hit 3 years old soon.
45,000 mi.
My dealer sends me a letter on trading in my 2017 for a 2020 M240.
They will give me $20,300 trade in, and I just need to pay the balance; $33,000.

I figured they will re-sell it for $35,000 or so.
Sounds about right?
Not planning to get something new, as car runs great!

Steve
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  #2  
Old 11-25-2019, 10:41 PM
Autoputzer Autoputzer is offline
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When it comes to the cost of anything, Hawaii might as well be another planet. I spent some time out here in the 1990's, and new cars were selling for 20% over MSRP. Members of the military would buy a new car on the mainland as they got transferred to Hawaii, with DoD paying to ship the car over. Then, they'd sell it for a good profit. The same thing was going on in Guam. Military members would unload the new car they brought over at DoD's expense, and then buy a "Guam bomb" to actually get around in. As one military member would transfer off the island, he'd sell his Guam bomb to the member replacing him.

The F22/23 production run is nearing its end. So, the cars are worth less (as a proportion of MSRP) than a BMW near the beginning of its production run. F22/23's are missing a lot of new gadgets that the new G20 3 Series has. Also, there's a limited consumer demand for a small two-door car.

A good rule of thumb is that cars driven ~12k miles/year depreciate 25% of MSRP the first year; 20% of book value the years they go out of warranty, become seven model years old, and go over 100k miles; and 15% of book value the remaining years. So, a three year BMW would be worth about 55% of MSRP in a private party sale (0.75 x 0.85 x 0.85 = 54% of MSRP). 45k miles on a three year old car is high mileage. So, there'd be hit there.

How the Hell did you rack up 45k miles in three years living on an island? When I was there, sunlight and parking lot dings and doinks were the big threat to cars. Parking spaces were small because land was so expensive.
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  #3  
Old 11-25-2019, 11:20 PM
sttkailua sttkailua is offline
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Location: Hawaii
 
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Mein Auto: M240i
It is my daily driver.
66 miles round trip to work x 5 days x 52 weeks, + tooling around on the weekends.
Comes to 45,000 miles over 3 years.
Other than oil changes, alignments, tire rotations, 1 nail in my run flat, no mechanical
issues!
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Old 11-26-2019, 08:31 AM
indufan indufan is offline
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Remember in the dealer's view, it isn't almost three years old, it is three years old.

I do think the numbers are off slightly but know little of the Hawaii market other than my trips to Oahu and Kauai for short periods (I know stuff is expensive). I don't know whether the 20,000 is low or the 35,000 is high. But the difference it way, way too much in my experience. Maybe your estimate of 35,000 is way too high. Maybe they would negotiate significantly higher. Clearly they would go higher if they just offered that in a standard letter. There is more cash to be made in the used car market but even top end, I think more than $10,000 is way, way over the top.
Quote:
Originally Posted by Autoputzer View Post
How the Hell did you rack up 45k miles in three years living on an island?
Do you really think 15k per year is that much? With my DD, I am on pace for about 12,000 and I am not as young as I once was and stay home a lot more.

Last edited by indufan; 11-27-2019 at 02:35 PM.
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  #5  
Old 11-27-2019, 12:23 AM
sttkailua sttkailua is offline
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Quote:
Originally Posted by indufan View Post
Remember in the dealer's view, it isn't almost three years old, it is three years old.

I do think the numbers are off slightly but know little of the Hawaii market other than my trips to Oahu and Kauai for short periods (I know stuff is expensive). I don't know whether the 20,000 is low or the 35,000 is high. But the difference it way, way too much in my experience. Maybe your estimate of 35,000 is way too high. Maybe they would negotiate significantly higher. Clearly they would go higher if they just offered that in a standard letter. There is more cash to be made in the used car market but even top end, I think more than $10,000 is way, way over the top.
QUOTE=Autoputzer;13171241]
How the Hell did you rack up 45k miles in three years living on an island?
Do you really think 15k per year is that much? With my DD, I am on pace for about 12,000 and I am not as young as I once was and stay home a lot more.[/QUOTE]

Indufan,

I figured dealer offers a low trade in, they Mark it up $10K, take $28K.

I did check on my purchase date, it was March 2017. So I will be at around 50,000 miles by March 2020. Sounds a lot for driving on a little island.

Enjoyed every mile!

Steve
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Old 11-27-2019, 02:38 PM
indufan indufan is offline
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I mean they will take a large profit if they can get it. I just don't think they can.

Have a great day in it, I am off the grocery in my F23 with the top up at 40 degrees and wind of 40 mph.
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  #7  
Old 11-27-2019, 03:12 PM
Autoputzer Autoputzer is offline
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Quote:
Originally Posted by indufan View Post

Do you really think 15k per year is that much? With my DD, I am on pace for about 12,000 and I am not as young as I once was and stay home a lot more.
Yeah, thinking back, if somebody lived on one side of Oahu and worked on the other, that'd be a lot of driving, especially if they went around the coast to get from one place to the other.

Bubbaville, Floriduh has all the development along the coast. So, despite the smallness in population, you can rack up a lot of miles getting from one place to anther. Frau Putzer's job and mine were 40 miles apart, and mine was in cheaper cost of living area. So, she commuted 56 miles/day, and I commuted 24. I'd leave the house once in the morning and hit all my other errands on the way home. After retirement, I leave the house two or three times a day. We're still racking up ~20k miles/year total
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Old 01-12-2020, 03:48 PM
IlCacciatore IlCacciatore is offline
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I hope it is ok to follow up with a question of my own. I found a lease take over on a 2017 M240i that has all the options I was looking for including leather, pro nav, HK, moonroof, auto, comfort access etc with 8000 miles. The lease ends 9/20 and has 2400 miles per month. The residual in September is $30,000. Will it be worth buying at lease end? Thanks for comments.
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Old 01-12-2020, 04:48 PM
Autoputzer Autoputzer is offline
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Quote:
Originally Posted by IlCacciatore View Post
I hope it is ok to follow up with a question of my own. I found a lease take over on a 2017 M240i that has all the options I was looking for including leather, pro nav, HK, moonroof, auto, comfort access etc with 8000 miles. The lease ends 9/20 and has 2400 miles per month. The residual in September is $30,000. Will it be worth buying at lease end? Thanks for comments.
Look it up on KBB.com.

BMW residuals are inflated. That's how they subsidize leases. So, it's probably not going to be worth the residual.

BMW FS now prohibits lessees from buying their own car back at the end of the lease for the market price (less than the inflated residual). There's a thread on this on the Ask A Dealer board. Beats me if that also applies to somebody taking over a lease, though.

Last edited by Autoputzer; 01-12-2020 at 04:50 PM.
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  #10  
Old 01-12-2020, 07:36 PM
joe53 joe53 is offline
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I'm a bit late to this thread, but did trade in my 2017 M240 coupe with only 16,000 miles/24 months old about 6 months ago. The depreciation was about 39% of the original purchase price (no lease). My research confirmed this was close to its value, although no doubt I could have done a bit better if I went through the hassle of a private sale.

I usually keep my BMWs for about a decade to avoid the depreciation hit, but was seduced by the M2 Comp.
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  #11  
Old 01-13-2020, 08:46 AM
IlCacciatore IlCacciatore is offline
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Thanks Autoputzer. I did KBB and trade-in value is at residual now- 9 months before lease end. I think I'll assume the lease at this low payment and have fun with the car. I'll never use the 2700 mile per month allowance but I'll try. WCPGW.
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  #12  
Old 01-13-2020, 08:58 AM
Autoputzer Autoputzer is offline
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Quote:
Originally Posted by IlCacciatore View Post
Thanks Autoputzer. I did KBB and trade-in value is at residual now- 9 months before lease end. I think I'll assume the lease at this low payment and have fun with the car. I'll never use the 2700 mile per month allowance but I'll try. WCPGW.
Trade-in values are low. "Private party" and "retail" prices are more relevant. Figure the value will drop another 10% in nine months. But, it sounds like M240i's are holding their value a little better than BMW FS thought they would.
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  #13  
Old 01-14-2020, 10:00 PM
imtjm imtjm is offline
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those letters are robo letters and you need to read the fine print. The numbers/values provided do not mean anything. i get them them all the time from the BMW dealer and they are meaningless, since it will come down to what they see and offer when you bring it in for a valuation.
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