Is the price correction starting to happen?

[LakeSurfer]

With all the talk about the crazy market and everyone wanting to know the value of their car I'm curious if things are starting to go south. My estimate was another year but….

There's a nice E93 M3 for sale near me in Florida, low miles, 2 owners, Fox red on the inside and interlagos blue on the outside, no mods, DCT with a clean title for $28,000 and another Alpine white with similar specs otherwise for $29,000. A couple months ago similar cars were closer to $35,000.

Is this a market correction or dealers trying to push out inventory?

[2011E90ZCP]

I dont really follow e93 prices but I do think the bubble on a lot of things is starting to deflate. I've been looking for a newer Land Cruiser/LX570 for my wife and I'm seeing them sit for longer and get numerous price reductions before selling. Same with boats which I was also recently shopping for. I invest in real estate and have noticed an ever so slight reduction in the madness there as well. These are purely anecdotal observations on my part but it's what I have noticed. Part of it could also be seasonal as people tend to buy fewer luxury cars, boats and homes in colder months.

[Jr67]

I’m Starting to notice this, glad I’m not the only one thinking in that direction

[Msidhu1]

I think this is due to winter and holidays. Typically spending focus for everyone shifts to holidays gifts or other personal stuff. For real estate - construction slows down due to weather and sales follow the similar pattern. People typically don't move during this time. For cars - similar process as most of our cars are stored in the winter specially verts and demand drops. On the other hand, price bubble is most likely to stay or get worse until supply chains are fixed or demand slows down.

[tbuck]

^This. Mainly holiday driven to be sure. Just go and drive by any upmarket car dealer and you will see almost no inventory. The BMW dealer here is included with several others in the same complex, and the Land Rover dealer had a total of 5 vehicles, Jaguar only had 3 that I could see, and Porsche was looking much better with maybe a dozen vehicles.

And E93's never track even close to what other E9x models go for. Apples and oranges.

[e46e92love]

I think it's more about patience and luck. My e92 was totaled in June, 2011.75, track suspension, 110k on her and got $38,000 from the insurance company that used local sales as the price setting.

Ordered a Volvo XC60 R-Design T8 with air suspension in July and got $5,500 at the time. Dealership said don't fill out credit stuff for lease as things usually cheaper in Nov when it will probably arrive.

3 weeks ago, I finally find a replacement for my e92—2011 silver, 82k on the odometer, $30,500 from a ford dealer in MA. Fuckers after I put deposit, purchase plane tix and sign ALL PAPERWORK tell me they don't have title to the car and not sure when they will get it but I still have to pay money even if the car cannot be legally mine for god knows how long.

3 days later, randomly good Le Mans e92, 78k gets posted on auto trader—contact seller who turns out to be an enthusiast. Clean title, clean mechanical, windshield crack and some interior cosmetics amounting to Pennie's to fix—-she worn out from dealers and others trying to fuck her on the deal who don't give a shit about the car. She talked to me for 5 minutes, asked me what I wanted to pay, told her based on damage, 24k. I was not the highest offer, but she sold it to me, and I send her pics as I promised as I put money into the car (part of a huge project).

Volvo dealer calls 2 days later, car arrived, only T8 not diverted to CA, they fought with Volvo and won so original sales deal stands—-when there are no cars on the lots and current lease numbers are $300 higher—-and got me a sick money rate.

Two days later, my leased Camry gets bought by swapalease (who was amazing) for $8600 in my pocket. Paid off the remaining 18 months on my lease and then cut me a check for an additional $8600. The car had 29k on the odo so it was over a few thousand on the miles. I got paid more than I had paid in payments up to this point.

So there is the car market for you. As my dad, 36 year Air Force and commercial pilot always says: "I'd rather be lucky than good"

Cheers,
e46e92

[jp1984]

It looks to me like it is either stabilizing or hit its peak in the summer.

Hope it happens to some E46's as well!

As previously mentioned Winter is buyers market. I have a motorcycle that I am going to sell in spring that is just sitting next to me ready to go but it is a bad time to sell obviously.

[LakeSurfer]

Originally Posted by tbuck

^This. Mainly holiday driven to be sure. Just go and drive by any upmarket car dealer and you will see almost no inventory. The BMW dealer here is included with several others in the same complex, and the Land Rover dealer had a total of 5 vehicles, Jaguar only had 3 that I could see, and Porsche was looking much better with maybe a dozen vehicles.

And E93's never track even close to what other E9x models go for. Apples and oranges.

Where I'm at in Florida the weather isn't as much of a factor even for verts. If anything verts are better sellers in the winter as it's cooler and less humid, making it perfect for the top down. My top is normally up in The summer and down in the winter. We're not as affected by the seasons as parts in the north are. Dealer inventory in my area, from my observations seems to be pretty strong at least in the used used market but I don't have access to there books so this is based on what I see. I've talked to some dealers that do consignment sales as well and they didn't seem interested in talking to me about my M3. It's a low milage, clean title car, nice example as well. There's just not enough meat on the bone for them, even in an area where convertibles do well. 6 months ago they would have been knocking down my door to get a slice of the pie. I could understand a seasonal fluctuation up north but not here. Houses are sitting on the market longer and frequent price reductions in real estate and used cars are starting to be seen more often then in the past year or so. I really think the bubble is starting to pop and sellers are being put in check. Which is good news for buyers but people like me who were on the fence probably missed the boat.

[Helmsman]

Originally Posted by tbuck

^This. Mainly holiday driven to be sure. Just go and drive by any upmarket car dealer and you will see almost no inventory. The BMW dealer here is included with several others in the same complex, and the Land Rover dealer had a total of 5 vehicles, Jaguar only had 3 that I could see, and Porsche was looking much better with maybe a dozen vehicles.

And E93's never track even close to what other E9x models go for. Apples and oranges.

Couldnt believe my ears when into the main dealer the other day, empty, shasing used car on general ad market.

[Kingjames31]

I thought the market may have been cooling a few weeks back as well. Put mine for sale and had more offers than I did in the summer. Sold the car and now looking for different one. The weather will always play a factor but I don’t see these cars coming down in price. Maybe it will take a bit longer to sell but the price is only going up in my opinion.

[Cyberdemon]

Originally Posted by AdM1nsarEas$

Yep it was bound to happen. Supply chain pressure easing. Winter. Prices are going lower.

Not sure where you are measuring the supply chain pressure. My current view based on new car sales and inventory is it continues to get worse. Days of available inventory on lots continues to go down and people who usually wait for December for holiday sales are going to be exiting leases and need new vehicles competing even further.

I don't think that has a huge bearing on these cars - your local market will play more of a factor. If you live where it's cold, yes winter certainly plays a part in it. Most people in cold climates are going to start shopping again in spring, but if you have a rare spec I still think you'd get a good value.

[jp1984]

Originally Posted by Cyberdemon

Not sure where you are measuring the supply chain pressure. My current view based on new car sales and inventory is it continues to get worse. Days of available inventory on lots continues to go down and people who usually wait for December for holiday sales are going to be exiting leases and need new vehicles competing even further.

I don't think that has a huge bearing on these cars - your local market will play more of a factor. If you live where it's cold, yes winter certainly plays a part in it. Most people in cold climates are going to start shopping again in spring, but if you have a rare spec I still think you'd get a good value.

I am seeing ho hum models on BAT going down in price.

[MPizza]

People are running out of money to spend on nice things like fast cars - especially with food & gas pricing rising like crazy. Hold out for a deal if you are looking!

[94jedi]

Could be - the holidays are coming, folks are spending their money on other things, vacays etc. Not to mention, verts are always a harder sell in the winter. Plus - e93's have always been the bottom dweller in terms of desirability.

[IB M]

Many companies, especially banks, pay bonuses in Feb and March; it will be interesting to see what car prices and supply are like early next year.

[jp1984]

Originally Posted by IB M

Many companies, especially banks, pay bonuses in Feb and March; it will be interesting to see what car prices and supply are like early next year.

It will depend on the chip shortage.

A lot of people could want to upgrade their old car to a new one, that would flood the market with older models.

I am not saying the price will definitely go up or down. Long term of course very nice, properly equipped models with low miles will keep going up for sure though. I just wouldn't predict the yoy % increase we saw.

[TigerM3]

Hopefully because I'm looking to buy one