Quote:
Originally Posted by Brian setsu
Is this still a bubble? or Should I just stop waiting and pay 35k for 08 90k miles?
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The way it looks to me (and I have informally been tracking prices for the last 18 months or so) there is still very much a used car bubble. My father in law sold his super low mileage MB SLK to Carvana because they offered him about $3500 more than anyone else. Others tell of similar situations. So overall, the used market is still hot.
The issue with the E9x M3 market is that, while it has been carried along by the used market in general, they are not only well out of the depreciation curve but now they are fully into the "collectors" up swing. This is really shown by looking at the low-mileage and desirable color cars, as they have gone up by a good bit more than the market as a whole. Likely without the COVID BS going down this would have taken a few more years to reach this point, much like the E46 M3 did.
My view is that as the new car market gets passed the lingering supply chain problems and the used market sees a correction after that, I do not think the E9x market will see much downward pressure. Reality is, this is the last NA car, the last hydraulic steering car, the only V8 car and the lowest production M3 since the E30. All that makes it desirable long term both for collectors and enthusiasts alike, and so demand for even the high-mile, well worn examples will remain higher than supply from now on.