05-08-2020, 06:13 PM | #1 |
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2020 G20 Black Book Value
Featured on BIMMERPOST.com I'm in a 36/12 lease on one and expect to ride it out, but decided to look in the event my situation changes and I have to bail on it. When I drove it off the lot, the black book value was already low on a used one - in the mid to upper $30's but it continues to erode far worse than my previous Bimmers did. Thanks! |
05-08-2020, 06:49 PM | #3 | |
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05-09-2020, 11:50 AM | #4 |
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It's mainly because of the competition. I'm not 100% familiar with the situation in the US, but I guess it is probably very similar to here in Germany.
Mercedes overtook BMW a couple years back as the best selling luxury brand. Ever since that, the mission of BMW's finance board member, was to outsell Mercedes. Unfortunately, two out of three main markets (US and EU) are pretty much saturated and there's only noticeable growth in China. So how do you sell more cars in a saturated market? Pretty easy: give more discounts. In Germany it's normal to get 15-20% off for a new G20, and this number is rising with age of the model to ~23-28% until the next generation is released. Cars on the second price level (used ~6 months) are even cheaper with 30+% off. The fact, that Audi and other brands got more competetive in recent years (but still lacking far behind in sales volume) didn't help either. If you now look at your black book value of $30k, that seems to be (at least somewhat) in line with the current market, as 30% off on $50k sticker price is $35k. |
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05-10-2020, 05:49 AM | #5 |
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The true Blackbook and Manheim auction values of all cars are completely out of line at the moment because there really is no true market thanks to the Covid lockdowns.
The market is going to be skewed for many months. |
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05-10-2020, 12:50 PM | #6 |
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Thank you everyone for your responses.
Stay safe - and healthy! I know this much, I'm going to have to come up with some road trips before lease end as anyone leasing right now is obviously banking mileage. |
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05-13-2020, 11:06 PM | #7 |
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Just be glad you leased. While I'm sure prices will recover somewhat, people who bought their cars will not be happy if they try to trade in their cars right now. Thankfully by the time I buy my next car, my current car won't be worth much anyway.
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