How expensive is GAP insurance?

[piloto]

When the article states that the average age is 41, it implies for all car buyer, including all new cars purchased. It's not specific to the M brand or to the M3. And the article isn't saying that half are in their twenties, but specifically that the two largest demographics are mid-twenties and mid-fifties, which is surprising, as one would expect it to be a single bell curve, with the mean around 40 to 45 given the car's price point and type (i.e. a multi passenger daily driver).

[crabman]

This is what it says word for word, "M3 buyers are surprisingly young, reports Larry Koch, M brand manager for BMW North America. While the average age of a buyer is 41....

It sure sounds to me like the average age is 41. Look on J.D. Power and similar and you will find the average age for BMW as a brand is years higher so I would think it was meant to be taken as written and nothing was implied. If it makes you feel better this a good many years younger than a C6 buyer and a many other performance cars hitting at this price point. Saying the average age is unusually young is something that the facts support, I am not aware of one with a lower average buy in age. More than half of the first time buyers in their 20s, uh uh.

[piloto]

Originally Posted by crabman

This is what it says word for word, "M3 buyers are surprisingly young, reports Larry Koch, M brand manager for BMW North America. While the average age of a buyer is 41....

It sure sounds to me like the average age is 41. Look on J.D. Power and similar and you will find the average age for BMW as a brand is years higher so I would think it was meant to be taken as written and nothing was implied. If it makes you feel better this a good many years younger than a C6 buyer and a many other performance cars hitting at this price point. Saying the average age is unusually young is something that the facts support, I am not aware of one with a lower average buy in age. More than half of the first time buyers in their 20s, uh uh.

Maybe I'm reading it the wrong way, but either way, the bigger point in that article was he behavior of gen-y buyers, using the M3 as a primary example. I honestly don't really care if the average age is 18 or 80, I got my car for me to enjoy. I do find the buying behavior of Gen Y to be interesting, from a marketing perspective. And compared to a C6, I think it's a tough camparison to make without more data, such as for what percentage of owners is the C6 their only car, or their primary car, versus the same number for an M3 owner. But just for kicks, I'd be curious to know the buyer demographic for the C63 and IS-F as well. I suspect brand imaging then would be a bigger factor, but would be an interesting exercise.

[osteome]

Originally Posted by dukeM3

I think at least half of M3 owners bought their first M3 when they were in their 20's, I did too so I think it's normal.

lease does NOT equal "bought"....

Leasing does make a more expensive vehicle accessible to a larger segment of the population, but do no confuse leasing with buying really much of anything.

[osteome]

Originally Posted by dukeM3

I think at least half of M3 owners bought their first M3 when they were in their 20's, I did too so I think it's normal.

lease does NOT equal "bought"....

Leasing does make a more expensive vehicle accessible to a larger segment of the population, but do no confuse leasing with buying really much of anything.

To the OP...yes you want gap insurance and it should be included.

[checkmate]

I paid $699 for GAP at the dealership. In hindsight, I should've just said no and gotten the coverage through my bank or insurance company.

[PNWM3]

Originally Posted by checkmate

I paid $699 for GAP at the dealership. In hindsight, I should've just said no and gotten the coverage through my bank or insurance company.

Rule of thumb, if the finance person is the one selling the product after you already agreed to buy the car, just say no.

The margins are HUGE on everything they push and where dealerships make a ton of money. From GAP coverage to a clear bra to a stupid Lo-Jack, everything can be gotten just as good if not better somewhere else.

One thing you should look at Checkmate is if you can cancel it and get a partial refund, many GAP plans have that.

[PapaKlix]

Originally Posted by crabman

This is what it says word for word, "M3 buyers are surprisingly young, reports Larry Koch, M brand manager for BMW North America. While the average age of a buyer is 41....

It sure sounds to me like the average age is 41. Look on J.D. Power and similar and you will find the average age for BMW as a brand is years higher so I would think it was meant to be taken as written and nothing was implied. If it makes you feel better this a good many years younger than a C6 buyer and a many other performance cars hitting at this price point. Saying the average age is unusually young is something that the facts support, I am not aware of one with a lower average buy in age. More than half of the first time buyers in their 20s, uh uh.

i think the perception that a significant percentage of the people buying m3's are in their 20's is probably based on "living" in forums like this, which is a small (and skewed) segment of the m3 owners population. i feel like i've seen threads here before asking for people's age and a significant number are in their 20s, at least more than i would have expected. anyway, if your fantasy world has you thinking that an online forum comprised primarily of the modding community is a fair representation of the real world you'd probably believe that half of m3 buyers are in their 20s.