12-26-2015, 11:24 AM | #1 |
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M2 VS e92 M3 with Comp Package
Sitting on the wait list is so painful and reading about the possibly terrible initial lease rates has me thinking about a plan B. Have you considered a lightly used m3?
Seems like you can find decent examples that have depreciated around 50% already (~35K). Pro/Cons? Anyone else on the fence? Pricing info for the M2 cant come soon enough... |
12-26-2015, 11:36 AM | #2 |
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I owned an E92 M3 w/ZCP and loved it but I wouldn't go back today. If technology matters at all, it is fairly dated. The M2 should be similar or better in terms of performance (faster 'Ring time than the E92 M3) if that matters. Also, unless you get a CPO'd version, I'd be worried about costly repairs... I've never been a big fan of owning a modern M car outside of warranty (excluding pre-E92 M's as they are less complex and less expensive to fix).
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12-26-2015, 11:56 AM | #3 | |
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12-26-2015, 12:01 PM | #4 |
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I think they are reliable but will also be expensive when an inevitable issue occurs.
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12-27-2015, 12:49 AM | #5 | |
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12-27-2015, 02:35 AM | #6 | |
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12-28-2015, 11:08 AM | #7 | |
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12-28-2015, 11:10 AM | #8 | |
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Did you say, rod bearing? We had a local E90 M3 owner with around 57k miles suffer a rod bearing failure that came with about a 16K tab to drop in a used motor. : |
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12-28-2015, 11:12 AM | #9 | |
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Why is it that unfavorable lease rates have you looking at a used vehicle ? : especially as opposed to some other vehicle to lease? I'm just trying to find out why that has you switching lanes ...? I personally feel that the M2 lease rates will certainly be less favorable than M3/M4 , just like occurred with the 1M vs the E9x M3. what's wrong with buying an M2 at 1.9 percent and extending the payments out as long as possible ? If you are a typical lease person and plan to trade the car in 3-4 years then you just do so. If you plan to keep it forever you can pay it off slowly or pay it off quickly. For direct compassion, I financed my ED 1M ( no down payment ) at 7 years with a payment of $607 versus lease rates of $750-800. It's the most expensive car I have ever purchased and about $80 a month more than I have ever paid on a car note. However, after 3 years I could have sold the car for a mint, and still can. Even if the M2 values tend to follow the average M car, a modest down payment or an ED price should start you off in a position where you won't owe more than it's worth down the road if you finance it , even with long payment terms. Leasing became popular when interest rates were fairly high. And while it can definitely make sense on some low mileage situations, with interest rates below 2 percent for those with good credit , to me it makes a ton of sense to extend financing as a way of " leasing ". With extended purchase terms you are paying as " little as possible " for the car... And if one is concerned about warranty then roll in an extended warranty. |
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12-29-2015, 12:09 AM | #10 |
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12-29-2015, 12:27 AM | #11 | |
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The original plan was to lease the m2 for 3 years and make a decision to return or buy it depending on the market value & other factors. Was hoping that I would love it too much to let it go at 3 years. (This is my first BMW and M car so I have no idea what to expect as far as performance & reliability) Speaking of ED, I do plan to take advantage of that for the M2 but sadly the discount seems to be only 5% in 2016. Thats just enough for two plane tickets to Germany! |
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12-29-2015, 04:56 PM | #12 | ||
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Talk to a credit union. Typically with auto loans over $30-35k they have terms available for 66, 72 or even 84 months. I believe navy federal and pentagon federal credit union b were the most popular back when I got my car. A small $25 donation to be a member and a credit check and you could be well on your way to a 1.49 percent loan. While 7 years of payments sounds like a long time, again, you can always pay it off early if you are able to afford a higher payment. I know that the usual rule of thumb when financing is to keep to 3-4 years but that certainly came about when auto loans were in the 5-7% range. With 2 percent interest it's almost free money. I received the 7 percent ED discount which was nice. For my car it was $3180 which in my case paid for 3 plane tickets for my family at that time. If just two had traveled then the extra money would have paid for a fair amount of my hotels also, which basically made it a "free " vacation to Europe Truth be told, I think they should provide free airfare to make the trip so 5% off MSRP amount is actually fine as far as I am concerned. Keep in mind that many countries don't even have ED Available and/or some have a Zero discount so I wouldn't complain about it being only 5%. Even if you got zero discount , It's the experience of a lifetime. |
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01-13-2016, 03:02 PM | #13 |
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Interest rates are creeping back up. Best rate you'll see on the long loans is like 2.49 (ask me how I know )
As for fear of an M car out of warranty, it's *really* funny to see someone say "well except pre E92" when the E46 has been worse than the E92 between VANOS and SMG problems. IMO it's always a roll of the dice with any car. Staying "in warranty" is an awful expensive insurance policy because you're taking depreciation hits over and over. Meanwhile the likelihood of a big failure is pretty slim. For people buying 60-80k cars, if a 10k repair after 5 years is *that* terrifying you're overspending on the car to begin with IMO. |
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01-13-2016, 04:33 PM | #14 | |
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01-13-2016, 04:47 PM | #15 |
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01-13-2016, 05:35 PM | #16 | |
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I wonder the failure rate really is for the e92 m3's. Searching forums posts isn't a realistic way to gauge the chances of failure. From what I am read the new engines are 15K+ ordeals which should probably make almost any one pause when considering this car. |
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01-13-2016, 06:28 PM | #17 |
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I actually went
E92 M3 6MT E92 M3 DCT C7 Corvette 7MT F82 M4 DCT and now an 6MT on the M2. Keeping it interesting Likely back to a DCT after the M2... or maybe not... or maybe
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01-14-2016, 08:35 AM | #19 | |
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I average about 18 MPG in my 981 and averaged just under 20 in the 235. 50/50 mix of city and interstate.
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01-14-2016, 11:14 PM | #20 |
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01-14-2016, 11:20 PM | #21 |
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