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      03-24-2020, 09:05 AM   #1
omaralt
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found 2020 m240i convertible 6spd manual at dealer

i currently drive an 2019 x5 and was on the verge of buying a fun toy car (718 cayman) in addition to the x5. however, with the world falling apart i've decided to hold off on buying the second car. however i found a 2020 m240i convertible 6spd at a dealership in VA and i'm considering trading in my x5 for it. i rarely need the rear seat but need to have it on occassion if it's my only car; so the m240i fits that bill.

MSRP is $56700. what can i expect as a discount. i know there is $3k incentive and 750 loyalty. i know this is the last year of this body as well.

anything i should watch out for? any major changes for 2020? thanks in advance
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      03-24-2020, 10:03 AM   #2
El Conquistador
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I have a 2017 manual convertible, you will love this car.
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      03-24-2020, 01:48 PM   #3
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If the world is falling apart, why are you trading in now? Do you own the X5? If so, you will take a giant hit on depreciation, a terrible idea these days. I have no idea what you will lose on the lease, but it will not be pretty either.
Have patience.
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      03-25-2020, 03:08 PM   #4
nvmaddog
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Quote:
Originally Posted by morphomeman View Post
If the world is falling apart, why are you trading in now? Do you own the X5? If so, you will take a giant hit on depreciation, a terrible idea these days. I have no idea what you will lose on the lease, but it will not be pretty either.
Have patience.
Have you even looked at how desperate pretty much every car manufacturer is to move new vehicles right now?

Anyone looking to buy new is in an excellent position right now. (I just wouldn't bite off more than I could chew given the uncertainty of the economy)
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      03-25-2020, 04:57 PM   #5
dradernh
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Quote:
Originally Posted by nvmaddog View Post
Have you even looked at how desperate pretty much every car manufacturer is to move new vehicles right now?

Anyone looking to buy new is in an excellent position right now. (I just wouldn't bite off more than I could chew given the uncertainty of the economy)
I've assumed that with Ohio's stay-at-home order that dealers aren't open here, but I haven't driven by one to see.

Edit: I looked up a local dealer group's home page and found that they are indeed open for business – which must be awfully slow.
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      03-25-2020, 06:00 PM   #6
cristo
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Last I heard from the dealer that we
bought from in Lancaster PA, they were
doing sales by appointment only to
minimize the foot traffic in the building.
Edit: just looked at their site. Sales is
closed, but parts, service and body shop
is open, as well as online shopping of their
inventory.
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      03-25-2020, 11:41 PM   #7
bobkat09
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Just bought an M240 convertible 2 days ago. I was thinking that the dealers are not going to want these cars sitting around for months and they’re willing to deal.
I had to work at getting the deal but I got around $8k off a $54500 list price
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      03-26-2020, 06:44 AM   #8
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None of the remarks about slow sales respond to the issue of depreciation on the X5. If OP trades the X5 in, then the dealer is stuck with another car to sell or unload, under the same dreadful circumstances. Yes, the dealer may be willing to part with the new car for less, but by the same token, the dealer will be willing to take less on the trade-in.
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      03-26-2020, 07:34 AM   #9
nvmaddog
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Quote:
Originally Posted by morphomeman View Post
None of the remarks about slow sales respond to the issue of depreciation on the X5. If OP trades the X5 in, then the dealer is stuck with another car to sell or unload, under the same dreadful circumstances. Yes, the dealer may be willing to part with the new car for less, but by the same token, the dealer will be willing to take less on the trade-in.
Yes, all of the remarks about slow sales play into what you can expect to receive on trade.

Visit a dealership and see what they are willing to do to get a customer into a new vehicle right now. (desperation mode is starting to set in)

Trades may sit, but when new vehicles do not sell brands panic and do whatever they can to move stock. The longer this whole half assed virus plays out, the better the deals become.
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      03-26-2020, 08:36 AM   #10
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If the itch gets bad enough, anyone can find reasons to justify scratching it. That said, this COVID-19 thing is very temporary. Trading your nearly new X5 now to buy a new M240i makes absolutely no sense financially, unless you're already using dollar bills to light your cigars and "Pappy" as hand sanitizer. If you really think you'd like something sporty in your stable, wait a month or two and re-evaluate your desires. There's a reason the dealer has a MT M240i convertible sitting on it's lot - most likely a special order deal which fell through. As much as those of us who lust for one of these unicorns, we are few and far between and the likelihood it sells quickly and you lose out is not high. Even when the virus clears and business gets moving again, it will take a while for auto dealers to sell cars as most folks will be more concerned with getting their lives back in gear as opposed to buying cars. My M235i convertible with 6MT sat in the dealer's showroom for 18 months before I purchased it for 19% off MSRP, and even then it depreciated another 10% in value the day I drove it off the lot. Today, my GMC truck which was $10K less out the door, purchased just 6 months after my BMW, is worth $3K more than my BMW with the same mileage, and it's depreciation curve remains much flatter.
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      03-29-2020, 11:33 PM   #11
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I bought my M240 6-speed convertible last month...absolutely love it. I'd say go for it.
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