[skip2mylou123]

Hi Guys,

I'm looking at getting a 2018 M2 pre-owned. This is my first time getting a pre-owned car so please excuse my ignorance.... I came across this car listed here from PFAFF BMW Mississauga :

https://www.autotrader.ca/ico/bmw/m/...207V7&sprx=100

I'm going to the dealership this week to take a look at the car. In speaking on the phone briefly with the sales rep, he told me it's a leased car that's returned (leased by one of the employees). The car is "not" CPO...but the factor warranty remains intact.

Couple of questions:

1) Is this a good deal?

2) Is the price negotiable? Im looking to do cash payment (I spoke to the rep on the phone briefly about this and he told me the price is firm which I found pretty shocking..)

3) Is it normal for 1-2 year old cars to "not" be CPO? I always thought that pre-owned cars would also be sold as CPO? my thought is that if its not CPO there might be something wrong with the car...

Thanks a lot everyone for all your help!

[magha]

Price seems high but does have a lot of the m perf goodies esp the exhaust!

Mileage is a lil steep too and key would be how it was driven during break in if u plan on keeping car. Look at service records to make sure break in done on time.

CPO seems strange but maybe not given factory warranty is still intact for 3 yrs

[Ggeezer]

No way that's a firm price. There's some people on here that got pre-owned 2018s at low-50s in the fall of 2018.

Their price is definitely higher than market. I would target 53-54k as the maximum I'd pay for a used one now. Keep in mind that it's already a 2 year old car in terms of model years (~15% depreciation per year) and dealers are offering steep discounts on their remaining new 2018s (~7% discount off MSRP and $4,500 BMW Canada credit, 2.99%/1.99% lease/finance) to move them off the lot.

Perhaps it was the season but I kept tabs on the M2 market in Canada throughout winter and none of them were moving off the lots. Most of them have been sitting for 4+ months and supply seems to be pretty solid now so it is a buyer's market.

Don't fall for their sales tactic. You just have to figure out if the car ticks all the right boxes for you and be firm with what you're willing to pay for it. If they're not willing to budge, just walk away. Either they'll chase you out or you'll find another car (out of all 3 model years of the M2, BMW produced the most 2018 models).

[skip2mylou123]

Originally Posted by Ggeezer

No way that's a firm price. There's some people on here that got pre-owned 2018s at low-50s in the fall of 2018.

Their price is definitely higher than market. I would target 53-54k as the maximum I'd pay for a used one now. Keep in mind that it's already a 2 year old car in terms of model years (~15% depreciation per year) and dealers are offering steep discounts on their remaining new 2018s (~7% discount off MSRP and $4,500 BMW Canada credit, 2.99%/1.99% lease/finance) to move them off the lot.

Perhaps it was the season but I kept tabs on the M2 market in Canada throughout winter and none of them were moving off the lots. Most of them have been sitting for 4+ months and supply seems to be pretty solid now so it is a buyer's market.

Don't fall for their sales tactic. You just have to figure out if the car ticks all the right boxes for you and be firm with what you're willing to pay for it. If they're not willing to budge, just walk away. Either they'll chase you out or you'll find another car (out of all 3 model years of the M2, BMW produced the most 2018 models).

Hey thank you so much for this!

Just wondering, where did you get the info on 7% off msrp and 4500 credit? I went to 2 bmw dealearships and they told me they barely have any 2018s left...and in terms of price negotiation they were willing to only offer 3000 off. Is the 4500 bmw Canada credit from the manufacturer and is something they should automatically apply if I ask for it? And then negotiate the 7% off separately? Thanks a lot

[twboy1999]

corporate discount is separate from dealer discount

[TheAMackAttack]

I've read various reasons why dealers won't CPO a car. It costs money to run through the process of certifying it and if they want to avoid incurring that cost they might not do it. Additionally, I've seen a dealer claim that they weren't going to CPO a car because it didn't have the break-in service completed at the appropriate interval. Either way, it should heighten your scrutiny of the Carfax, maintenance history and visual inspection of the car. Good luck!

[GregoryK]

They are a good dealership. Mileage seems about right. Not drive that much. I would check it out. Nice looking car no question. You can discuss the price I'm sure they have some room. A couple of thousand means nothing if the car is in mint shape.

[gphung]

Not a firm price. I picked up my 2018 LBB from a different dealership in the GTA this March and I was able to negotiate. I paid in cash too as the finance rates are way too high on used M2 inventory, and there's certainly room for negotiation.

I've been told by the used car manager himself that the dealership isn't too concerned about the revenue generated from used car sales. They're more about moving in volume and making room for more new cars to be leased/financed/bought, which is really where the dealership makes their money in when it comes to sales (let's disregard financing, servicing, etc).

Also, negotiation doesn't necessarily have to be about bringing down the subtotal itself. The car supposedly came with the Contis, so I also negotiated to have the wheels swapped with another M2 that had the Michelin PSS tires lol.

[M2Cmtl]

FYI the pictures show 13400 Kms...I would confirm what that actual Km is. You could probably negociate the CPO certification. It costs the dealer money to have it certified. If they think a car will sell without it, more money in their pockets.

Price seems a little high, though I'm looking at 6MT and your car has lots of carbon bits.

[tokki]

My opinion but, if you can swing it, just get the M2C man.

[M2Cmtl]

Sure the M2C is better, but if you are paying cash, the 25k-30K or so difference is huge. That being said my local delaer just quoted me 1k per month for a 45 month lease with 16k kms per year. So it's probably possible to get the term down to 39 months for 1k with a bit of haggling... not too bad.

[mr_lab_rat]

1. Not really, 54-55 would be more reasonable. The MPE is a great option that was expensive but well worth it.

2. Yes, just because someone says the price firm doesn't mean you can't negotiate.

3. Yes, it depends on the dealer whether they choose to certify it. It's more common to certify cars that are out of warranty.

[Yvette]

I would deal at $53-54 max
Got mine at $50 w/ dct last month with similar km. No perf exhaust though

[detroitm2]

I'm confused, people here are complaining about the price and mileage. The car is in Canada, that's CAD money and KM.

It translates to roughly $44,000 USD at 8000ish miles. With M performance exhaust and DCT seems like a pretty fair price.

You may be able to negotiate a bit, but I wouldn't expect anything massive.

[detroitm2]

Originally Posted by Yvette

I would deal at $53-54 max
Got mine at $50 w/ dct last month with similar km. No perf exhaust though

You paid $50K Canadian for an 18 m2? Would love to know where you found that deal.

[twboy1999]

ok, maybe not at $50k
but around that range with a quick search
https://www.autotrader.ca/ico/bmw/m/...%202W9&sprx=-1

https://www.autotrader.ca/a/bmw/m/ri...%202W9&sprx=-1

https://www.autotrader.ca/a/bmw/m/mo...%202W9&sprx=-1

[M2Cmtl]

Honnestly the adds you pulled up support the 58k price. The OPs car has DCT and MPE with low miles. 55k would be a great price.

[detroitm2]

Originally Posted by twboy1999

ok, maybe not at $50k
but around that range with a quick search
https://www.autotrader.ca/ico/bmw/m/...%202W9&sprx=-1

https://www.autotrader.ca/a/bmw/m/ri...%202W9&sprx=-1

https://www.autotrader.ca/a/bmw/m/mo...%202W9&sprx=-1

2 of those have quite a bit more km's on them. But yeah, some good prices up there in Canada! We're not seeing prices that low here in the states. Typical used 2018's are running just under $50K USD ($67K CAD).

https://www.autotrader.com/cars-for-...&firstRecord=0

[mr_lab_rat]

You can't compare prices between US and Canada. The new car was 61500 CAD base.

I overpaid for mine because it was super low mileage (5000km), right colour, and MPE.
My car when new cost 67k with the freight/PDI and I got it for 61k.
Yvette did much better.

[detroitm2]

Originally Posted by mr_lab_rat

You can't compare prices between US and Canada. The new car was 61500 CAD base.

I overpaid for mine because it was super low mileage (5000km), right colour, and MPE.
My car when new cost 67k with the freight/PDI and I got it for 61k.
Yvette did much better.

Interesting. did not know!

What kept people from buying in Canada and importing to the US? Was duty so much that it offset the most $10K USD price difference?

[twboy1999]

when you buy a new car here, they make you sign a waiver with bmw canada indicating you will not export it.

not that it can stop you i think

[detroitm2]

Originally Posted by twboy1999

when you buy a new car here, they make you sign a waiver with bmw canada indicating you will not export it.

not that it can stop you i think

Interesting.. Based on some quick googling, it looks like it would cost around $2500 USD to import an M2 (at MSRP) to the US.