I relate to you a ton man. Been selling cars for 5 years. Started in the car world when I was 18. I currently work at bmw and love my job didn’t realize the M2 existed. I couldn’t help myself but to order it. What you said at the end about of course it’s not a good investment. But it’s what you want. And you don’t spend your money on other things. I love this video. Made me finally feel better about going up so much in car and payment. Knowing I can afford it. Thank you man🎉 congratulations
@@itsjoeymack BMW M2 is about as good of an investment that a car can be, if you look at the used ones on the market they cost about the same as the new ones, so they’re holding their value well so that’s a plus.
Nice video, one modification I would recommend is the oil cooler guard that faces towards the ground in front of the engine. One owner over at the Bimmerpost forum under the M2 G87 section purchased his vehicle and road debris punctured his oil cooler and the engine needed to be replaced on his way home from the dealership. The cost of the replacement was so great the insurance company totaled the vehicle. I own a 18 BMW M5 (F90) and several owners suffered the same fate and the cost was over 50k with labor since the engine needed to be replaced.
Nothing cheap about the new M cars thats for sure. Will be interesting to see how these cars hold/lose value over the next couple of years. Not just the M2, but any of the newer M cars. I'd love a 2021+ M3 with carbon buckets as a grocery hauler, but used prices still aren't in my acceptable budget. I owned an E46 M3 then an E92 M3 but have been out of the brand from a number of years now. The new M2 looks like a fun car. Happy holidays!
@@reformedartist8528 You can pick up a 2017 M3 with Comp and Exec pack, 60K miles, listed price $42k, clean title. There are dozens of similar cars with 50k-60k miles in the same price range. No way mid $50s for an old F80 with 50k miles.
@@FrostyAMGyou might find a good deal here or there but M cars have been holding their value better in comparison to 5+ years ago. Example, a 2021 M2 comp with 20 to 30,000 miles is going for $54-58,000 before taxes.. a 2023 g87 m2 with 5 to 10,000 miles going for $65,000 M3s have been holding value well too. M4s seem to dip the fastest
I think you got a Great Deal with your purchase. I remember the Honda Dealership here in California were charging $10,000 over MSRP for a Civic Si and $5000 Markup for an Acura TLX. The Honda Dealership Salesman would not even let me "Sit" inside the Honda Civic Type R. My friend told me that Dealerships did not have a shortage of Cars in 2022, but they just hide them off site at a remote parking lot and lie to customers about Vehicle shortage. What a bunch of clowns here in CA.
Good on you bro! I’ve spent well over a couple million dollars on cars and motorcycles since I was 20 years old…. No regrets! I’ve never wasted/spent money on women, booze, beer, fast food (dining out), gambling, drugs, etc! YOLO. The only advice I’d offer you is to invest in yourself first (Home/Build Financial Wealth) for future retirement, and the rest goes to cars, lol! It’s what I’ve done… Cars FTW! Congrats. Cheers/B
I am so jealous of the insurance cost. I put an order in for the 2024 M2. Insurance quoted me $450/month or $2700 for 6 months. 28 / 0 accidents or tickets. It's making me rethink on the '24 M2 and get an older M4. 😢
@@cesarsnkrs1135 I'm in Nebraska. I'm paying $100/month for my '17 Audi 250/500/100 with $250 deductible. But the same thing with the M2 would be $450/month with State Farm. I looked at Geico and progressive. Those are like $500+.
The M2 is a vehicle we are considering for my wife. We are both in our late 50's, no tickets, no accidents, and have been with USAA for insurance for over 30 years. We currently own a 18 BMW M5 (F90) we purchased new in 2018. Currently paying $608 every 6 months for full coverage insurance. Adding a new M2 our insurance would be $952 every 6 months with the same coverage. We live in SOCAL (San Diego County) so that will play a part in premiums. I spent some time putting different vehicles into the USAA quote system. 24 Porsche Panamera Turbo S: $2,167 ** MSRP over 200k*** 24 Alpina B8: $2,007 24 X6M Comp: $1,875 23 M8 GC: $ $1,859 23 M5 Comp: $1,778 24 Porsche 911 GT3: $1,347 24 Porsche 911 S Coupe: $1,215 MSRP 155k 24 Porsche Cayenne Coupe Turbo S: $1,187 23 M3 Comp: $1,134 24 X5M Comp: $1,128 23 Corvette Z06 3LZ: $1,119 MSRP 155k 23 Audi RS3: $969 24 M2: $952 23 Dodge Challenger Hellcat Red Eye: $881 24 X3 M: $850 23 Cadillac CT-5 V Black Wing: $848 24 Porsche Cayman GT4 RS: $824 23 Cayman GTS: $793 23 Cadillac CT-4 Black Wing: $777 23 Boxster GTS: $771 23 Cayman S: $770 24 M340i: $759 24 X3 M40i: $753 23 Corvette Z51 2LT: $729 MSRP 96k 24 Porsche Cayenne S: $716 24 Toyota Supra: $699 24 VW Golf R: $689 23 Porsche Macan GTS: $657 18 M5: $608 My vehicle 24 Honda Civic Type R: $583 24 Acura Integra Type S: $567 Interesting take away for me is how much a 23 M5 cost to insure ($1,778) compared to my 18 M5 ($608), $1,170 difference with the same coverage. The Cadillac CT5-V Black Wing is $848 and to me it comparable to the F90 M5 platform. As a whole it appears with USAA, BMW M products cost more for auto insurance. The two vehicles that stick out to me is the C8 Z06 at $1,119 and Cayman GT4 RS comes in at $824. The performance bargain as it pertains to cost for auto insurance for me is the 23 C8 Corvette Z51 coming in at $729.
Carbon interior and roof are standard on the UK M2! Your price translates to around £62,500 uk pounds. The M2 without options in the uk starts at £65,800!
Amazing video man, I just got a 2020 m340i alpine white and I got the car for $38,000 with 27k miles at my dealership where I work but I financed and my god I interest I paid on top of this car for what I got it for is so insane💀I genuinely am happy and can pay it but it’s horrible because I’m still 22 as well and I have had multiple racing arrest incidents so I ruined my insurance but hopefully I keep working hard so I can keep up , I absolutely love your g87 man it’s so nice , happy for you
Damn, you helped me when I was pick out out my 23 gti S, I bought that and love it. I can’t justify spending this kind of money on depreciating assets and not investing that money. Enjoy your cars and I hope I can buy an m2 cash soon !
My insurance I pay for a bmw 550i is $600 a month, never had an “at fault” accident. I’ve had a few driving under suspensions, and 1 traffic violation. It was $700 a month insurance to insure my 2010 Porsche cayman.
Love the transparency. And I agree, it sucks not to have boring taste lol. Sometimes I wish I could just like regular cars. Would def save me a ton of money 😂
Nice looking car! I have a 2021 MC2 and LOVE IT!! Does the same thing for me..puts a smile on my face. I'm surprised being the car guy you are... no manual?? Enjoy it!
Thank you for doing these videos it really helps put into perspective the investment price of a high end car. Glad that you're enjoying it! I recently got myself a 20th anniversary Golf R which I have been over the moon for. I'm now looking at picking up an RF Club Miata for weekend driving. Pretty much my dream garage, maybe a supra in the future.
I just got an allotment for a G87 and my OTD price is about the same. I paid less in taxes, but more in dealership “extras.” Luckily I am 40 so insurance is less.
Such a realistic view. I was enjoying watching it. Man you explain everything to the last detail. Enjoy it, my plan is to buy it also but I am waiting for 480hp version with new steering wheel.
I hope this guys You tube channel really helps make the payment. $1311 payment.. That's insane for a 22 yr old. How did he even get a loan for that? I wouldn't put anything less than half down on that car. I know 35k is a lot of money, but that's what I would do.
Funny you mention this. I already have a video edited and going out on the 8th going over this. Believe me, I wouldn’t buy the car if I couldn’t easily afford it.
ima keep it a buck the fact that your paying that much money a month for that car is insane im over here struggling trying to pay 940 a month currently about to do a voluntary repo because its just to much. Man good luck to you bro cause sheesh i am no were at that point where i can settle for monthly payments like that..
Everyone’s situation is different. I wouldn’t have got it if it would’ve put me in a situation. I hope everything works out for you, thanks for sharing.
I have a 2021 veloster N lol. 62k miles and the only issue im getting rn is the damn steering wheel issue. Look out for that and hopefully doesn’t happen to you.
Thank you sharing your story! Sounds like so expensive when you live in CA😂 and I hate those unnecessary protection packages rather than people could get a cheaper price at local PPF store… same here, I complete customized the M2 on 11/30 then I was happy to see the statue change to Ready for Transport. Looks like I will receive it before Feb,2024.
Funny towards the end of the video, you speculated that you might get some comments like this. I am writing a book for people your age about wealth creation and personal finance. The book comes out of substantial experience. Also, like you, I am a car guy and really have always enjoyed cars; performance and luxury. I know that you already said in the video that you understand that most cars are not investments and that most also depreciate. In the book, I suggest people buy a less expensive used car (doesn't have to be a beater, just reliable, inexpensive transportation) and they save money, including a 6-month emergency fund and socking away money into a retirement plan. Paying car payments with interest is money out the window and it doesn't contribute to building wealth. I have paid cash for all cars during the past 35 years. It is great not having a car payment and the only thing left are the ridiculous insurance premiums. I would get rid of one of the cars and begin diverting what you were paying into a tax-favored retirement plan (if the dealership offers one) or buy low cost index ETFs. At 22, you could retire at 50.
I mean, what’s the use of that when you end up scrimping and saving until you’re 50 by which point the youngest years of your life are gone? If you’re a true car guy, you will always find a way to prioritise your hobby whilst still looking out for your future self. I really believe you can do both things. Yes it may delay early retirement, but we need to have a bit of fun on this spinning sphere whilst we’re here
You’re literally me in 2-3 years lol. I’ve got a gti rn that’s about to be paid off, and am on track to graduate college in finance a year early and really want to get into a new m2.
I might be misunderstanding something, but if you monthly payment is 1,311 for the next 60 months then you total amount financed with the interest is $78,660, not 68k like you said in the video. with the 10k down you basically paying 88k for this car.
You didn’t watch the full video. I address this already. Yes, if I keep the car for exactly 60 months and never pay a penny over the minimum payment/pay it off early then yes but that’s highly unlikely.
That 10k you put down basically pays for the cars depreciation. Short term deprecation anyway. Some guy in the bmw forum said they offered him 55k for his m2. MSRP was around 70k. He wasn't very happy
Should’ve went with BMW select financing. I ordered my g87 and $15k of m performance mods installed at port with $4k down and still only $1250/mo. Balloon payment is a better option on these cars
You're misleading people. The sales tax at Long Beach BMW in L.A County is 10.25. If you would have gone to Orange County which is a couple of miles away where they have 5 BMW dealerships the sales tax is 7.75. You screwed yourself because those 5 BMW dealerships in Orange county have M-2's
@@JVette01 Patients..OBTW...i also bought my BMW at Long beach BMW but i paid Orange co. tax because that's where i live. They also tried to add extra B.S which i said I'am approved on this car and i'am not paying for your extra snake oil etc etc stuff. they took it off. I was in the business for decades so i know the ropes. Lol
@@anjdog2003 That's cool and all but when you buy out of state, you have to pay their local sales tax if you drive it off the lot. And now, it's much easier to get a "good" deal than when I bought mine. It's fine though, already had it for a year and been enjoying every bit of it.
@@JVette01 First off I love your videos and comparisons (I'm a 24 R owner). Secondly, you're 22, you're a car salesman, and you have $120k garage. What type of cars do you sell and how long have you been doing it? Selling cars is your sole income stream or is there more to the story. You don't think you've over extended yourself? I'm being a "get off my lawn" old guy at age 38, who has owned 50 cars, and I"m strongly encouraging you to invest at your age. 22 and a car salesman doesn't seem like a secure career to warrant that kind of garage... but YOLO I guess, live and learn.
I sell Fords and been doing it for over 2 years. I save and invest most of my money and if you ask anyone, they know how tight I am with money. My way of “splurging” is getting a nice car. I’m definitely not overextending myself as my golf r is already paid off and I could sell the m2 at any point in time. Also, I have a big rainy day fund since I’m commission based. I have Investment income and UA-cam income as well. Car sales can be a stable career if you’re good at it, which I am. Thanks for the support!
@@j_merlotte5467 As a slightly less old guy, I'd have to second this sentiment. I think it's a combination of working in industry that normalizes predatory lending and generational acceptance of not having a positive net worth and living upside down in debt for life. I'm watching this video as someone debating whether I would pay cash or do a super short term with a significant down payment for a fun weekend car. I wouldn't ever suggest financing a luxury item, and this is one of them. OP might have wealth or income outside of his sales job so who knows.
That’s crazy you had to pay that tax. Here in Delaware we have a small tax for cars like 1.85% and if we buy in PA or MD or anywhere we pay tax to where the car is titled. I didn’t know you had to pay CA. Guess I’ll never get a car from there lol. Thanks for sharing this info I do like to see what payments are like on stuff. You could’ve saved a ton of money buying in Vegas why pay 7k tax that’s like 140 a month on a buy. Sucks man sorry you misunderstood.
I would’ve paid Vegas sales tax which is about 1.875% less, but Vegas doc fee is $599 whereas CA is $85. I didn’t lose THAT much but yes it still would’ve been cheaper
This is kinda crazy. I got mine brand new with the Carbon Package and Ohio tax included for about the same price. My order sheet shows the msrp at 63.2k tho. And of course no bullshit fees or mark ups. Very odd
70k? I paid that for F80 M3 in 2017. Just sounds high but I guess I’m out of the loop. I did something similar though and had a $1000 payment in my 20’s. Really regretting it now. I thought it was fine because I had no obligations and was making six figures. Now I realize that money could have been wealth. Im making even more money now but driving a 2013 Mazda with 150,000 miles. It sucks. But Im really getting ahead financially.
I see what you mean... however, when you're making decent money, you can still buy the car you want and save money. Edit: Yes, lots can change in regards to pricing 8 years. If both were brand new and costing the same, I'd take the new M2 all day every day over the old F80.
@ yea I’m not saying your wrong. Just make sure you’re saving for retirement, saving for house/property, and investing. If you have money left over after that for a fun car you’re golden.
I definitely am. I already have my own house, the M2 is paid off now, and I'm saving more than 30% of my monthly income. I wouldn't buy this car if it would strain me in any way to reach my goals.
If you could afford it. Why not? I had my c63 for over 10yrs. Bought it out right. Certified year old. Has only 60k miles. Not the fastest. But fun car. My daily is a Gla35 awd. Quick and very practical. Having also recently bought a house. I consider myself lucky to have a wife enjoy my toys.
Your insurance is cheaper than my 3 year old hybrid Lexus, and I'm 10 years older with a spotless record. I'm seething. I'm thinking about getting one of these, maybe trade in my Lexus when I pay it off or just keep that as my daily. Gotta clean out the garage cause I won't park this shit outside.
I will be doing the same.........no at fault accidents in 52 years of driving and they have raised my premium by quiet a bit 3 years in a row. Not the low-cost insurer anymore. @@JVette01
You work and you're a student? I need to switch jobs and go back to school. Those are great insurance rates. A GTI was going to cost me MORE than my 7.5 R which is crazy to me.
The rate was fairly low given the market conditions and Id have to move money around so I’d rather just pay it off with new money than with money I already have
What do you think about daily driving this car? I have one nearby it’s a 2024 with 4k miles for 61k, and there is a brand new one for 65k, I can get a little better rate one the new one it probably is enough to make up for the difference: but what do you think can I daily it?
I’d get new 100%. And yes, you can daily. The only downside is the brake dust, sometimes the brakes squeak, rougher ride, small gas tank and (relatively) not good mpg.
@@JVette01 I’ve heard of people swapping pads with a different compound and it helped a lot with the dust. I’m okay with MPG and small tank. What about like comfortability? Do the modes make a big difference or is it a sports car through and through? For example I’ve been in the new Z, it rides like there’s no suspension, I couldn’t daily it. It beats you up too much. I’m okay with it being sporty, but I’d prefer to be able to tame it down when I’m just trying to make it to work if that makes sense. I have experience with Camaros, I could daily those.
@@ChrisDavis333you should consider the m240i they are better for a daily a jack of all trades just like the m340i it can do a bit of both and good on mpg and $25k cheaper and it’s a b58 engine that you can mod down the road
@@JVette01 depends on the spec, I actually have been looking at 25 M240i’s because I like the way they look a lot better than the previous years. Around 55-57, you can get a no option RWD one for maybe 53. M2’s with the Auto, start at 67. The new M340i doesn’t make sense to me, it’s the same price as a M2, I’d go M2 over M340i. Right now I’m just debating between New M240i, New M2, or used M340i.
I’m seeing online msrp on n these is about 66k? What’s the reason. Package options etc? I’m going to get one I want it bad. But 1100 or so a month seems like too much. I can afford it but I’m used to like 300-500 car payments. What can I do to drop monthly payment?
what do you do for a living? i’m 22 as well, also live in vegas. im trying to get into a black sapphire metallic G87 in the next year or so, but not looking good.
@@JVette01 not looking like it’ll happen within that time frame, my job fell thru. Is it hard getting into a dealership? i might go for that as i love cars, know all about them, and love talking about them.
What if you lived in California and bought and took delivery in Nevada? Would you save money on the car? Or would you have to pay more in sales tax when registering in. CA?
I have a Supra (2020 Launch edition) that's already been paid off (15k miles). I went to my local BMW dealership and asked to order me a 2024 M2 coupe which the built came up to 70k (includes almost all the add-ons). The offered me 46k which is a bit low to what I was expecting for my supra. Anyways, the difference came up to be 26k plus all the other extra fees came up to about 30k. The loan payments will be about $560 monthly. Is this a good deal?
@@adriansilva1434 Yes I'm having fun and yes it does turn heads. It surpises me the amount of people in drive thrus and on the street that compliment it
Not sure why you paid markup. Plenty of dealers are not charging it on the M2. Also on interest, you realize most of the interest is front loaded. Insurance is going to be higher for a higher hp car. No real surprises there.
The car itself was MSRP. It just had a protection package on it. And yes, I know how interest works. Great thing about it is that I’m never gonna pay that much in interest as I’m already paying it off very quickly
Tax on cars is BS also when you consider it gets tax each time it sells again. One time and done… I might look at this cars when it’s two years or slightly older. Congratulations 🎉
You’d just multiply the payment by the loan term, then add the down payment. I’m not gonna pay on it for 60 months so I don’t care what that number is. I’m gonna pay it off by the end of the year
@@JVette01 nvm im retarded i thought 68,000 was the fixed loan term at 5%. didnt realize thats the price before then you add 5% to each month on whatever you payment is
If you plan on trading it in anyway, doesn’t really matter how much you pay it down, you could just do a bigger down payment on the new car your buying. As far as how to pay it off sooner, just pay way more than the minimum payment.
Sorry if this seems silly but you put $10k down to save $180 a month, $11340 over the 60 month, feels a lot of money to spend just to save $1340 over 5 years, you'd have surely got a better return putting the $10k into a savings account?
As long as you are happy, your purchase is justified. My car has the carbon pack and front air duck totaling $82,000 with tax , i put enough to get my payments to $608.00 and made a guarantee investment with a $1000.00 return each mouth for payment to pay it off in three years. I usually keep my sports cars for 15 years minimum, so i get the years to enjoy my purchase.
@@trevorbailey1448 totally get that, not knocking the purchase at all I hope he has an amazing time with the car, I'm like him in that I don't spend my money on other stuff, I love cars, I'm just saying he could he deposited that $10k into a saving account and he'd have made more than the $1340 he's saving by using it as a down payment, I'd rather have $0 down payment and pay the extra $180 a month
10k at 6% is $50/mo. The interest I’m saving is worth it more than investing the 10k. I also plan on paying it off early anyway so it’s not a big deal.
$78K? LOL That’s nothing. I’m in Sydney, Australia. I just purchased a 2024 M2, Auto, Carbon Experience (roof / interior), Carbon Seats, M Race Track Pack (inc unlocked ECU), M Compound Brakes, and CSL M3 Wheels. Total here in Australia is $150K. The difference with me is, I’m double your age and I paid cash. There’s no way I’d buy one here in Australia with a $10K deposit and a $140K loan. Financial suicide. LOL
Appreciate the feedback. However, if you can get a (relatively) low interest rate loan, I’d rather leverage my money to make more money than to spend 78k of my capital on a car. I can pay this car off whenever I want. I also can write off the interest on my taxes because I use this car primarily for making UA-cam videos. But good on your for being able to pay cash 👍
I picked up a 8V RS3 2 years ago for 60k. 14,000 miles 2019 for 2% APR when they were basically giving out money for free. Iv'e been looking for a Toronto Red G87 but as you mentioned the depreciation on BMWs are crazy and I'm really worried about losing 20% of the cars value in a few years if I bought it at MSRP. My RS3 has held it's value pretty well compared to most sports cars sold during covid because it's super low milage and fully optioned but I am so ready to get out of it. Iv'e done everything I've wanted to it it's been making about 600hp for a year now and I'm just kinda over it. What are your thoughts on my options if I want to get into a G87 the most financially savvy way? Thanks so much, love ur informative videos
Yes. Their interest rate is very competitive right now. Double check now though, because they usually change every quarter. You also need to have A+ credit to qualify.
@@mazpr2025 The 5cyl is awesome but the interior features are not worth 60k. Even fully optioned the S3 and S4/5 has better interior features. It's stupid fast but at the end of the day it has 2 pedals and an turbo. Once you get used to 600hp it becomes less exciting an engaging to drive. A manual trans IMO will always be more fun to drive
Terrible investment especially at your age. Payment and insurance is same as my mortgage in SoCal. I love cars too but learned that I get more enjoyment building/modifying cars than buying expensive new.
So, excellent question.I have a 2000 VW Jetta lol, that I bought in August of 99 and paid$18,500 cash for it. Still driving that thing because I'm such a cheap bastard.People that look rich are usually poor and people that look poor are usually rich.Anyway,getting my moneys worth out of it and that's how you build wealth.Would love to have one of these cars you guys review but I like money better.I can't stand a sales person getting a sales commission from the work and effort put in researching investing and saving when all they do is stand around all day.Capitalism. You and your money 101. Oh ya, remember to always pay yourself first. @@JVette01
Don't pay any mind to other people telling you what to do. Internet randos always worried about the next person's $$... nothing wrong with paying interest either, especially with the dollar losing value by the year.. its called leverage for a reason.
Can you elaborate on that? With 3 yrs you paying less for lease and at the end of lease you just buy it. The interest rates are really high. Explain if you can what you mean it will be more expensive
I plan on paying off the car early so lease doesn’t make sense. I’ll pay less overall interest by buying it and paying it off early. Also, you’ll have to pay title and doc fees twice.
@@JVette01 well I am not sure if finance is your strong suit but with 10k down you lease payment would have been $800 or so. Also I believe you can payoff your loan at anything so you don’t have to wait. Well at the end you going to pay the same but why would you just not pay a lower payment until reasonable amount and pay it off. Money today worth more than money tomorrow. Why pay them banks early. Plus I believe interest rates on buy is higher than lease. Regardless good for you. I am getting my red one today but I like it with moonroof. Do you think this car will hold value in 3-5 yrs like M1? Given I see less production.
It wouldn’t make sense to pay a lease down early or put a big DP because if it’s totaled you lose everything. Nothing wrong with leasing if that’s your thing, but not for me. Also, i can sell the car whenever I want and not have to worry about early termination fees, etc
You can think whatever you want. I want it and can afford it easily so idc. Cars are more important to some people than others. If you’re happy with a 2004 Kia Spectra, that’s fine too!
@@JVette01 the fact that your saying I don't care is what's wrong with people in our country. Giving in to these types of payments only serves to embolden companies by legitimizing their greed. What you pay for a car doesn't just impact you.
@@JourneySiocoM240i will be a better daily due to the softer suspenson, low end torque, and better gas mileage. However, the M2 performance outshines the m240i drastically both on track and in a straight line. It's your choice.
@peteshea8010 yea I don’t think that’s true in his case. Pretty sure he has a video where he talks a little about finances and how he got the cars. Also, depending on interest rates financing can be the smarter option than cash
I do the same thing with respect to financing. I rarely keep a car for more than 2 years, and most of time, it more like one year. I always say, cars are my vice. In the last four years, I have owned a C8 Corvette, a new Golf R, a M4 Competition Convertible, and now my 2024 M2, and those are just the performance cars that I have owned in that same time frame. I also had a GTI and a Lexus ES350 FSport. :) I could be doing a lot worse things with my money. I have owned 50 new cars since I was 21 years old. It sounds like you might catch me. Great Video! Keep up the good work!
The C8 was definitely quicker with respect to launching the cars from a dead stop. I saw a couple of 2.9 0-60 times in the C8. I haven't been able to obtain those numbers in the M2. Of course, the C8 is a good bit lighter than the M2 with similar HP. Both cars are exceptional though and I don't have anything negative to say about either one. I would like to see someone do a rolling test from 40 or 50 miles per hours with both cars. The M2 seems to pull hard from that speed. Thanks for replying!
Owning 2 cars, especially one being a M car at the age of 22 is super impressive!
Thank you!
You don't own it till you pay it off. It's quite easy to get finance these days. Many people finance cars and then cant afford it.
@@peepopoooooooooofyou definitely make around $1500 a month
@peteshea8010does the SP500 get 200HP extra with a downpipe and tune?
@@weloveyouuaj Yes it does
I relate to you a ton man. Been selling cars for 5 years. Started in the car world when I was 18. I currently work at bmw and love my job didn’t realize the M2 existed. I couldn’t help myself but to order it. What you said at the end about of course it’s not a good investment. But it’s what you want. And you don’t spend your money on other things. I love this video. Made me finally feel better about going up so much in car and payment. Knowing I can afford it. Thank you man🎉 congratulations
Awesome! Thanks for support. You’re gonna love your new M2!
Title jumping?
M2 is great value for the money!
@@itsjoeymack BMW M2 is about as good of an investment that a car can be, if you look at the used ones on the market they cost about the same as the new ones, so they’re holding their value well so that’s a plus.
. I’m clearing over 100k and still cant see myself spending 1300 on a car. Congrats though, nice car! Killing it!
It’s because the shorter term too. Lots of people finance for 72 and 84 as well which would bring the “monthly payment” down
Nice video, one modification I would recommend is the oil cooler guard that faces towards the ground in front of the engine. One owner over at the Bimmerpost forum under the M2 G87 section purchased his vehicle and road debris punctured his oil cooler and the engine needed to be replaced on his way home from the dealership. The cost of the replacement was so great the insurance company totaled the vehicle. I own a 18 BMW M5 (F90) and several owners suffered the same fate and the cost was over 50k with labor since the engine needed to be replaced.
I’ve heard of this too. Link?
It seems some come with a guard and others do not, I don't understand why it's like this
@johnl.38 I work at bmw and the automatics don't have that guard in place but the manuals do. Awful design from bmw tbh
Nothing cheap about the new M cars thats for sure. Will be interesting to see how these cars hold/lose value over the next couple of years. Not just the M2, but any of the newer M cars. I'd love a 2021+ M3 with carbon buckets as a grocery hauler, but used prices still aren't in my acceptable budget. I owned an E46 M3 then an E92 M3 but have been out of the brand from a number of years now. The new M2 looks like a fun car. Happy holidays!
M3 is not going to lose a lot. The old F80s still go for mid 50k range with 50k miles still.
@@reformedartist8528 You can pick up a 2017 M3 with Comp and Exec pack, 60K miles, listed price $42k, clean title. There are dozens of similar cars with 50k-60k miles in the same price range. No way mid $50s for an old F80 with 50k miles.
@@FrostyAMGyou might find a good deal here or there but M cars have been holding their value better in comparison to 5+ years ago.
Example, a 2021 M2 comp with 20 to 30,000 miles is going for $54-58,000 before taxes.. a 2023 g87 m2 with 5 to 10,000 miles going for $65,000
M3s have been holding value well too. M4s seem to dip the fastest
Thank you for being transparent. Young people need to watch this.
I think you got a Great Deal with your purchase. I remember the Honda Dealership here in California were charging $10,000 over MSRP for a Civic Si and $5000 Markup for an Acura TLX. The Honda Dealership Salesman would not even let me "Sit" inside the Honda Civic Type R. My friend told me that Dealerships did not have a shortage of Cars in 2022, but they just hide them off site at a remote parking lot and lie to customers about Vehicle shortage. What a bunch of clowns here in CA.
Thanks for watching!
Good on you bro! I’ve spent well over a couple million dollars on cars and motorcycles since I was 20 years old…. No regrets! I’ve never wasted/spent money on women, booze, beer, fast food (dining out), gambling, drugs, etc! YOLO. The only advice I’d offer you is to invest in yourself first (Home/Build Financial Wealth) for future retirement, and the rest goes to cars, lol! It’s what I’ve done… Cars FTW! Congrats. Cheers/B
That’s exactly what I’m doing haha. Thank you!
Couple million? That's insane....retire early on that
I am so jealous of the insurance cost. I put an order in for the 2024 M2. Insurance quoted me $450/month or $2700 for 6 months. 28 / 0 accidents or tickets. It's making me rethink on the '24 M2 and get an older M4. 😢
It’s funny you mention that because right after I made this video, my rates shot up for 2024. So it’s like 470/month now…
$450? A month? For a single car? What state? Cali?
@@cesarsnkrs1135 I'm in Nebraska. I'm paying $100/month for my '17 Audi 250/500/100 with $250 deductible. But the same thing with the M2 would be $450/month with State Farm. I looked at Geico and progressive. Those are like $500+.
The M2 is a vehicle we are considering for my wife. We are both in our late 50's, no tickets, no accidents, and have been with USAA for insurance for over 30 years. We currently own a 18 BMW M5 (F90) we purchased new in 2018. Currently paying $608 every 6 months for full coverage insurance. Adding a new M2 our insurance would be $952 every 6 months with the same coverage. We live in SOCAL (San Diego County) so that will play a part in premiums. I spent some time putting different vehicles into the USAA quote system.
24 Porsche Panamera Turbo S: $2,167 ** MSRP over 200k***
24 Alpina B8: $2,007
24 X6M Comp: $1,875
23 M8 GC: $ $1,859
23 M5 Comp: $1,778
24 Porsche 911 GT3: $1,347
24 Porsche 911 S Coupe: $1,215 MSRP 155k
24 Porsche Cayenne Coupe Turbo S: $1,187
23 M3 Comp: $1,134
24 X5M Comp: $1,128
23 Corvette Z06 3LZ: $1,119 MSRP 155k
23 Audi RS3: $969
24 M2: $952
23 Dodge Challenger Hellcat Red Eye: $881
24 X3 M: $850
23 Cadillac CT-5 V Black Wing: $848
24 Porsche Cayman GT4 RS: $824
23 Cayman GTS: $793
23 Cadillac CT-4 Black Wing: $777
23 Boxster GTS: $771
23 Cayman S: $770
24 M340i: $759
24 X3 M40i: $753
23 Corvette Z51 2LT: $729 MSRP 96k
24 Porsche Cayenne S: $716
24 Toyota Supra: $699
24 VW Golf R: $689
23 Porsche Macan GTS: $657
18 M5: $608 My vehicle
24 Honda Civic Type R: $583
24 Acura Integra Type S: $567
Interesting take away for me is how much a 23 M5 cost to insure ($1,778) compared to my 18 M5 ($608), $1,170 difference with the same coverage. The Cadillac CT5-V Black Wing is $848 and to me it comparable to the F90 M5 platform. As a whole it appears with USAA, BMW M products cost more for auto insurance. The two vehicles that stick out to me is the C8 Z06 at $1,119 and Cayman GT4 RS comes in at $824. The performance bargain as it pertains to cost for auto insurance for me is the 23 C8 Corvette Z51 coming in at $729.
@@JVette01 Insane!
Carbon interior and roof are standard on the UK M2! Your price translates to around £62,500 uk pounds. The M2 without options in the uk starts at £65,800!
Amazing video man, I just got a 2020 m340i alpine white and I got the car for $38,000 with 27k miles at my dealership where I work but I financed and my god I interest I paid on top of this car for what I got it for is so insane💀I genuinely am happy and can pay it but it’s horrible because I’m still 22 as well and I have had multiple racing arrest incidents so I ruined my insurance but hopefully I keep working hard so I can keep up , I absolutely love your g87 man it’s so nice , happy for you
Congrats on your M340! Thank you for the support
Damn, you helped me when I was pick out out my 23 gti S, I bought that and love it. I can’t justify spending this kind of money on depreciating assets and not investing that money. Enjoy your cars and I hope I can buy an m2 cash soon !
My insurance I pay for a bmw 550i is $600 a month, never had an “at fault” accident. I’ve had a few driving under suspensions, and 1 traffic violation.
It was $700 a month insurance to insure my 2010 Porsche cayman.
Congrats man…at any age you are doing awesome but to be 22…hats off to you
Thank you!
@@JVette01no problem…beautiful car man
Love the transparency. And I agree, it sucks not to have boring taste lol. Sometimes I wish I could just like regular cars. Would def save me a ton of money 😂
Nice looking car! I have a 2021 MC2 and LOVE IT!! Does the same thing for me..puts a smile on my face. I'm surprised being the car guy you are... no manual?? Enjoy it!
Thanks for watching! I love a good automatic in fast cars. In slow cars like an FRS, then I like manual
Beautiful color, I'll be taking the manual option when it's time! I drive a GR Corolla right now. Thanks for the breakdown!
Absolutely!
Awesome video, thx for the transparency.
Thank you for doing these videos it really helps put into perspective the investment price of a high end car. Glad that you're enjoying it! I recently got myself a 20th anniversary Golf R which I have been over the moon for. I'm now looking at picking up an RF Club Miata for weekend driving. Pretty much my dream garage, maybe a supra in the future.
Congrats!! Thank you for the support
Hell yeah, good stuff brotha congrats and enjoy the smiles per gallon!
Great review loved the breakdown of the payments
Really appreciate you providing this knowledge. I’m trying to decide between this or a CT4-V Blackwing. Enjoy.
I just got an allotment for a G87 and my OTD price is about the same. I paid less in taxes, but more in dealership “extras.” Luckily I am 40 so insurance is less.
Congrats! You'll love it
Such a realistic view. I was enjoying watching it. Man you explain everything to the last detail. Enjoy it, my plan is to buy it also but I am waiting for 480hp version with new steering wheel.
Nice!
I hope this guys You tube channel really helps make the payment. $1311 payment.. That's insane for a 22 yr old. How did he even get a loan for that? I wouldn't put anything less than half down on that car. I know 35k is a lot of money, but that's what I would do.
Funny you mention this. I already have a video edited and going out on the 8th going over this. Believe me, I wouldn’t buy the car if I couldn’t easily afford it.
@@JVette01 Can't wait to see it 👍
ua-cam.com/video/23tT4i3B_J0/v-deo.htmlsi=qKxj179781ZegF5w
ima keep it a buck the fact that your paying that much money a month for that car is insane im over here struggling trying to pay 940 a month currently about to do a voluntary repo because its just to much. Man good luck to you bro cause sheesh i am no were at that point where i can settle for monthly payments like that..
Everyone’s situation is different. I wouldn’t have got it if it would’ve put me in a situation. I hope everything works out for you, thanks for sharing.
You work hard and you deserve your cars. Great choices!
Thanks
thanks for the video, and dang! I'm paying more insurance on a 2019 lexus es then you do on both cars, no tickets/accidents
Insurance varies so much from state to state, age, gender, zip code, so it can range all over the place haha. Thanks for watching!
Congratulations on your M2 👍🏽
Thanks for sharing! Now I am so happy with my Veloster N 2022 :)
Congrats!
I have a 2021 veloster N lol. 62k miles and the only issue im getting rn is the damn steering wheel issue. Look out for that and hopefully doesn’t happen to you.
Good for you bro living the dream enjoy!!
How does it compare to the golf R, looking into buying a 2024 golf R What is your opinion is it worth it?
Two completely different driving experiences. I’m working on making a video comparing them both but they’re both amazing.
Need more people making videos like theses
Thank you sharing your story! Sounds like so expensive when you live in CA😂 and I hate those unnecessary protection packages rather than people could get a cheaper price at local PPF store… same here, I complete customized the M2 on 11/30 then I was happy to see the statue change to Ready for Transport. Looks like I will receive it before Feb,2024.
Congrats! Thanks for the support
Funny towards the end of the video, you speculated that you might get some comments like this. I am writing a book for people your age about wealth creation and personal finance. The book comes out of substantial experience. Also, like you, I am a car guy and really have always enjoyed cars; performance and luxury. I know that you already said in the video that you understand that most cars are not investments and that most also depreciate. In the book, I suggest people buy a less expensive used car (doesn't have to be a beater, just reliable, inexpensive transportation) and they save money, including a 6-month emergency fund and socking away money into a retirement plan. Paying car payments with interest is money out the window and it doesn't contribute to building wealth. I have paid cash for all cars during the past 35 years. It is great not having a car payment and the only thing left are the ridiculous insurance premiums. I would get rid of one of the cars and begin diverting what you were paying into a tax-favored retirement plan (if the dealership offers one) or buy low cost index ETFs. At 22, you could retire at 50.
I got an even better idea: do both! ;)
I mean, what’s the use of that when you end up scrimping and saving until you’re 50 by which point the youngest years of your life are gone? If you’re a true car guy, you will always find a way to prioritise your hobby whilst still looking out for your future self. I really believe you can do both things. Yes it may delay early retirement, but we need to have a bit of fun on this spinning sphere whilst we’re here
Congrats, great breakdown
You’re literally me in 2-3 years lol. I’ve got a gti rn that’s about to be paid off, and am on track to graduate college in finance a year early and really want to get into a new m2.
I highly recommend! :)
I might be misunderstanding something, but if you monthly payment is 1,311 for the next 60 months then you total amount financed with the interest is $78,660, not 68k like you said in the video. with the 10k down you basically paying 88k for this car.
You didn’t watch the full video. I address this already. Yes, if I keep the car for exactly 60 months and never pay a penny over the minimum payment/pay it off early then yes but that’s highly unlikely.
@@JVette01 I guess that makes sense, as long as you can afford it and it makes you happy that all that matters
Thanks for watching
That 10k you put down basically pays for the cars depreciation. Short term deprecation anyway. Some guy in the bmw forum said they offered him 55k for his m2. MSRP was around 70k. He wasn't very happy
Yeah cars depreciate, especially expensive ones. It is what it is. It only matters when you’re actively trying to sell it
How much are the maintenance costs like service and gas?
I get about 20mpg ish. No cost for service for 4 years 50k miles and maintence for 3 years 36k miles.
You need a running in service at around 1,000-1200 miles which is £450 where I live
Much cheaper than what I paid for this car in NY and I paid $5000 mark up. And I have $10K of carbon fiber parts from MP lists.
Thanks for sharing
Should’ve went with BMW select financing. I ordered my g87 and $15k of m performance mods installed at port with $4k down and still only $1250/mo. Balloon payment is a better option on these cars
I didn’t even know there was a balloon option. I planned on paying it off in one year anyway so no biggie
@@JVette01 yea I’m with you, same goes for me. I just wanted the monthly to be more manageable before I pay it off. Now you know for next time 🫡
Great video!
You're misleading people. The sales tax at Long Beach BMW in L.A County is 10.25. If you would have gone to Orange County which is a couple of miles away where they have 5 BMW dealerships the sales tax is 7.75. You screwed yourself because those 5 BMW dealerships in Orange county have M-2's
The other dealers didn’t have the m2 I wanted at the time.
@@JVette01 Patients..OBTW...i also bought my BMW at Long beach BMW but i paid Orange co. tax because that's where i live. They also tried to add extra B.S which i said I'am approved on this car and i'am not paying for your extra snake oil etc etc stuff. they took it off. I was in the business for decades so i know the ropes. Lol
@@anjdog2003 That's cool and all but when you buy out of state, you have to pay their local sales tax if you drive it off the lot. And now, it's much easier to get a "good" deal than when I bought mine. It's fine though, already had it for a year and been enjoying every bit of it.
@@JVette01 You have a great car with years of enjoyment
Can't believe you're in a position to own two expensive cars at that age! Props to you, and good things come to those who work hard!👍
Thank you!
That's why it's important to build credit when your younger. Also good to have a Cosigner.
Drive to work to pay for the car, pay for the car to drive to work.
They get you in every state regardless 🎉😂
What do you do for a living?
Selling cars
@@JVette01 First off I love your videos and comparisons (I'm a 24 R owner). Secondly, you're 22, you're a car salesman, and you have $120k garage. What type of cars do you sell and how long have you been doing it? Selling cars is your sole income stream or is there more to the story. You don't think you've over extended yourself? I'm being a "get off my lawn" old guy at age 38, who has owned 50 cars, and I"m strongly encouraging you to invest at your age. 22 and a car salesman doesn't seem like a secure career to warrant that kind of garage... but YOLO I guess, live and learn.
I sell Fords and been doing it for over 2 years. I save and invest most of my money and if you ask anyone, they know how tight I am with money. My way of “splurging” is getting a nice car. I’m definitely not overextending myself as my golf r is already paid off and I could sell the m2 at any point in time. Also, I have a big rainy day fund since I’m commission based. I have Investment income and UA-cam income as well. Car sales can be a stable career if you’re good at it, which I am. Thanks for the support!
@@j_merlotte5467 As a slightly less old guy, I'd have to second this sentiment. I think it's a combination of working in industry that normalizes predatory lending and generational acceptance of not having a positive net worth and living upside down in debt for life.
I'm watching this video as someone debating whether I would pay cash or do a super short term with a significant down payment for a fun weekend car. I wouldn't ever suggest financing a luxury item, and this is one of them.
OP might have wealth or income outside of his sales job so who knows.
That’s crazy you had to pay that tax. Here in Delaware we have a small tax for cars like 1.85% and if we buy in PA or MD or anywhere we pay tax to where the car is titled. I didn’t know you had to pay CA. Guess I’ll never get a car from there lol. Thanks for sharing this info I do like to see what payments are like on stuff. You could’ve saved a ton of money buying in Vegas why pay 7k tax that’s like 140 a month on a buy. Sucks man sorry you misunderstood.
I would’ve paid Vegas sales tax which is about 1.875% less, but Vegas doc fee is $599 whereas CA is $85. I didn’t lose THAT much but yes it still would’ve been cheaper
This is kinda crazy. I got mine brand new with the Carbon Package and Ohio tax included for about the same price. My order sheet shows the msrp at 63.2k tho. And of course no bullshit fees or mark ups. Very odd
Your tax is probably half of CA tax
@@JVette01 yes at around 7%. Do you have any guesses on why such a disparity in msrp? Extra Warranty or something?
Nope. What was your MSRP?
You forgot to mention you will pay roughly $9600 in interest over the life of the loan. That’s something to consider.
Car is paid off already so nope. ;)
I wana buy one soooo bad
it is one of my favorite new released cars 🔥
Go for it! Haha
@@JVette01 my first car is Renault 2 I found a job and should I buy my own sport car yung or should I wait?
Only buy it if you can comfortably afford it and you have a stable job/income. If it will stress you at all, then wait
70k? I paid that for F80 M3 in 2017. Just sounds high but I guess I’m out of the loop. I did something similar though and had a $1000 payment in my 20’s. Really regretting it now. I thought it was fine because I had no obligations and was making six figures. Now I realize that money could have been wealth. Im making even more money now but driving a 2013 Mazda with 150,000 miles. It sucks. But Im really getting ahead financially.
I see what you mean... however, when you're making decent money, you can still buy the car you want and save money.
Edit: Yes, lots can change in regards to pricing 8 years. If both were brand new and costing the same, I'd take the new M2 all day every day over the old F80.
@ yea I’m not saying your wrong. Just make sure you’re saving for retirement, saving for house/property, and investing. If you have money left over after that for a fun car you’re golden.
I definitely am. I already have my own house, the M2 is paid off now, and I'm saving more than 30% of my monthly income. I wouldn't buy this car if it would strain me in any way to reach my goals.
@ killin it
If you could afford it. Why not? I had my c63 for over 10yrs. Bought it out right. Certified year old. Has only 60k miles. Not the fastest. But fun car. My daily is a Gla35 awd. Quick and very practical. Having also recently bought a house. I consider myself lucky to have a wife enjoy my toys.
That’s awesome! Thank you for the support
Your insurance is cheaper than my 3 year old hybrid Lexus, and I'm 10 years older with a spotless record. I'm seething. I'm thinking about getting one of these, maybe trade in my Lexus when I pay it off or just keep that as my daily. Gotta clean out the garage cause I won't park this shit outside.
What insurance do you have? Geico is charging me over $200 monthly for my Golf R, same model as yours.
I have geico. They just raised my rates for 2024 so I might start shopping around
I will be doing the same.........no at fault accidents in 52 years of driving and they have raised my premium by quiet a bit 3 years in a row. Not the low-cost insurer anymore. @@JVette01
How do you like the golf R compared to the M2?
I have a series of 3 or 4 videos comparing them both. Look into the channel and check it out!
You work and you're a student? I need to switch jobs and go back to school. Those are great insurance rates. A GTI was going to cost me MORE than my 7.5 R which is crazy to me.
I’m a graduate. Not a current student.
@peteshea8010So true.
ua-cam.com/video/23tT4i3B_J0/v-deo.htmlsi=C0Rkwqr_8QyxHwYn
You seem fairly well off. What makes you decide to go buy a car with credit as opposed to saving up for it first then buying it all at once?
The rate was fairly low given the market conditions and Id have to move money around so I’d rather just pay it off with new money than with money I already have
We live in a Capitalist world, if you spend your capital, there's a high likelihood that you'll be living hand to mouth in the future.
Financing vehicles helps to build credit
What do you think about daily driving this car? I have one nearby it’s a 2024 with 4k miles for 61k, and there is a brand new one for 65k, I can get a little better rate one the new one it probably is enough to make up for the difference: but what do you think can I daily it?
I’d get new 100%. And yes, you can daily. The only downside is the brake dust, sometimes the brakes squeak, rougher ride, small gas tank and (relatively) not good mpg.
@@JVette01 I’ve heard of people swapping pads with a different compound and it helped a lot with the dust. I’m okay with MPG and small tank. What about like comfortability? Do the modes make a big difference or is it a sports car through and through? For example I’ve been in the new Z, it rides like there’s no suspension, I couldn’t daily it. It beats you up too much. I’m okay with it being sporty, but I’d prefer to be able to tame it down when I’m just trying to make it to work if that makes sense. I have experience with Camaros, I could daily those.
@@ChrisDavis333you should consider the m240i they are better for a daily a jack of all trades just like the m340i it can do a bit of both and good on mpg and $25k cheaper and it’s a b58 engine that you can mod down the road
It’s actually a 10-15k difference. Not even close to 25k difference for an m2 lol. And an m340i is similar price to an m2
@@JVette01 depends on the spec, I actually have been looking at 25 M240i’s because I like the way they look a lot better than the previous years. Around 55-57, you can get a no option RWD one for maybe 53. M2’s with the Auto, start at 67. The new M340i doesn’t make sense to me, it’s the same price as a M2, I’d go M2 over M340i. Right now I’m just debating between New M240i, New M2, or used M340i.
I’m seeing online msrp on n these is about 66k? What’s the reason. Package options etc? I’m going to get one I want it bad. But 1100 or so a month seems like too much. I can afford it but I’m used to like 300-500 car payments. What can I do to drop monthly payment?
Send me a dm on Instagram
what do you do for a living? i’m 22 as well, also live in vegas. im trying to get into a black sapphire metallic G87 in the next year or so, but not looking good.
ua-cam.com/video/23tT4i3B_J0/v-deo.htmlsi=FOdbYWzL4gtGtCN2
What do you mean by not looking good?
@@JVette01 not looking like it’ll happen within that time frame, my job fell thru. Is it hard getting into a dealership? i might go for that as i love cars, know all about them, and love talking about them.
Ah I see. It’s not necessarily hard to get into a dealership but sales is not easy, not for everyone
@@JVette01 for sure🤙🏻
What if you lived in California and bought and took delivery in Nevada? Would you save money on the car? Or would you have to pay more in sales tax when registering in. CA?
In Nevada, they charge the sales tax of the state in which you’re registering the car… how it should be
I have a Supra (2020 Launch edition) that's already been paid off (15k miles). I went to my local BMW dealership and asked to order me a 2024 M2 coupe which the built came up to 70k (includes almost all the add-ons). The offered me 46k which is a bit low to what I was expecting for my supra. Anyways, the difference came up to be 26k plus all the other extra fees came up to about 30k. The loan payments will be about $560 monthly. Is this a good deal?
Sounds about right
@@JVette01 are you having fun with your M2?
@@JVette01 Does it turn the heads of people when you drive it?
@@adriansilva1434 Yes I'm having fun and yes it does turn heads. It surpises me the amount of people in drive thrus and on the street that compliment it
Hey fellow car salesman… what are you dealing? I’m pushing Kia’s and doing quite well, eventually would like to move over to BMW.
Fords.
Not sure why you paid markup. Plenty of dealers are not charging it on the M2. Also on interest, you realize most of the interest is front loaded. Insurance is going to be higher for a higher hp car. No real surprises there.
The car itself was MSRP. It just had a protection package on it. And yes, I know how interest works. Great thing about it is that I’m never gonna pay that much in interest as I’m already paying it off very quickly
what do you to wash it and keep it looking crispy like that?
I have all the stuff I use in the description actually
The opportunity cost of this vehicle, assuming you do this every 5 years, would make you a millionaire in your mid 40s.
Or be a millionaire and have a nice car ;)
Tax on cars is BS also when you consider it gets tax each time it sells again. One time and done… I might look at this cars when it’s two years or slightly older. Congratulations 🎉
Nice car but I think you over paid building one online is $66k never pay MSRP in this world right now dealers are hurting.
I got it back in October of 2023 where they were still going for over. If I got one now, MSRP or less is very easy to find. Thanks for your input
so $10k down and $68k financed for 60 months
how much would the car cost if you didnt finance it?
Gotta use good ol math and add the amount financed and down payment and you come up with 78,000 after taxes and fees.
@@JVette01 no i mean like 78,000 - 68,000 x 0.05% for 60 months? like how much does 5% compound for 60 months if you bought it straight cash instead
You’d just multiply the payment by the loan term, then add the down payment. I’m not gonna pay on it for 60 months so I don’t care what that number is. I’m gonna pay it off by the end of the year
@@JVette01 nvm im retarded i thought 68,000 was the fixed loan term at 5%. didnt realize thats the price before then you add 5% to each month on whatever you payment is
If you could only take one, would you take the M2 or the Golf R?
That would be hard. Probably the Golf R because it’s more of a Jack of all trades.
Can I ask you, how do you plan on paying off within 2 years? I’m tryna do the same with my car and trade it in for something better
Any advice ?
If you plan on trading it in anyway, doesn’t really matter how much you pay it down, you could just do a bigger down payment on the new car your buying. As far as how to pay it off sooner, just pay way more than the minimum payment.
You have a good insurance rate in your area compared to Georgia.
Not bad. Can’t complain considering my age and cars
Dave Ramsey having a heart attack. Beautiful car tho
Sorry if this seems silly but you put $10k down to save $180 a month, $11340 over the 60 month, feels a lot of money to spend just to save $1340 over 5 years, you'd have surely got a better return putting the $10k into a savings account?
What saving account would give him a return enough to bring his payment to his intended amount with the $10,000 plus profit 🤔
As long as you are happy, your purchase is justified. My car has the carbon pack and front air duck totaling $82,000 with tax , i put enough to get my payments to $608.00 and made a guarantee investment with a $1000.00 return each mouth for payment to pay it off in three years. I usually keep my sports cars for 15 years minimum, so i get the years to enjoy my purchase.
@@trevorbailey1448 totally get that, not knocking the purchase at all I hope he has an amazing time with the car, I'm like him in that I don't spend my money on other stuff, I love cars, I'm just saying he could he deposited that $10k into a saving account and he'd have made more than the $1340 he's saving by using it as a down payment, I'd rather have $0 down payment and pay the extra $180 a month
10k at 6% is $50/mo. The interest I’m saving is worth it more than investing the 10k. I also plan on paying it off early anyway so it’s not a big deal.
@@JVette01 no worries wasn't a criticism just wondered, hope you enjoy every second of the car!
Crazy costs for a car over 10k in interest 😬
You’ll never end up paying that full amount unless you make the minimum payment for exactly 60 months. I touch on this in the video
$78K? LOL That’s nothing.
I’m in Sydney, Australia. I just purchased a 2024 M2, Auto, Carbon Experience (roof / interior), Carbon Seats, M Race Track Pack (inc unlocked ECU), M Compound Brakes, and CSL M3 Wheels.
Total here in Australia is $150K.
The difference with me is, I’m double your age and I paid cash. There’s no way I’d buy one here in Australia with a $10K deposit and a $140K loan. Financial suicide. LOL
Appreciate the feedback. However, if you can get a (relatively) low interest rate loan, I’d rather leverage my money to make more money than to spend 78k of my capital on a car. I can pay this car off whenever I want. I also can write off the interest on my taxes because I use this car primarily for making UA-cam videos. But good on your for being able to pay cash 👍
I picked up a 8V RS3 2 years ago for 60k. 14,000 miles 2019 for 2% APR when they were basically giving out money for free. Iv'e been looking for a Toronto Red G87 but as you mentioned the depreciation on BMWs are crazy and I'm really worried about losing 20% of the cars value in a few years if I bought it at MSRP. My RS3 has held it's value pretty well compared to most sports cars sold during covid because it's super low milage and fully optioned but I am so ready to get out of it. Iv'e done everything I've wanted to it it's been making about 600hp for a year now and I'm just kinda over it. What are your thoughts on my options if I want to get into a G87 the most financially savvy way? Thanks so much, love ur informative videos
Thanks for watching! Just try to find a dealership that will give you a good price and look up the current finance rate through bmw ahead of time.
Why are you over it?
@@JVette01 So financing through BMWs private bank is the move?
Yes. Their interest rate is very competitive right now. Double check now though, because they usually change every quarter. You also need to have A+ credit to qualify.
@@mazpr2025 The 5cyl is awesome but the interior features are not worth 60k. Even fully optioned the S3 and S4/5 has better interior features. It's stupid fast but at the end of the day it has 2 pedals and an turbo. Once you get used to 600hp it becomes less exciting an engaging to drive. A manual trans IMO will always be more fun to drive
How was your credit score when you got this?
Depends which bureau, but the one they used was 786
@@JVette01 copy, wish me luck today. Hopefully i get a good deal. Hoping to meet you whenever we cruise to Vegas. We’re in spcal
Awesome! Feel free to follow me on Instagram
In South Africa the interest rate is 11.50% 😭
Rip
Was only 1k more for my carbon roof.
Terrible investment especially at your age. Payment and insurance is same as my mortgage in SoCal. I love cars too but learned that I get more enjoyment building/modifying cars than buying expensive new.
Everyone has their own tastes! Thanks for sharing
What do you do for work bro ? M2 is a dream
Car sales
@@JVette01 how did you get into that bro ? Do you need experience and a connection?
That’s the great thing about it, no.
@@JVette01 I’ll have to look into it bro appreciate it
Am I missing something? Isn’t the msrp 63200?
“Starting at” is always before any options and before the destination charge so that number is never realistic
Ahhhh!
I got mine base, so wasn’t thinking about the options.
Just can't rap my head around paying interest on an item that's at the same time depreciating.
That’s with any car… how do you buy yours?
So, excellent question.I have a 2000 VW Jetta lol, that I bought in August of 99 and paid$18,500 cash for it. Still driving that thing because I'm such a cheap bastard.People that look rich are usually poor and people that look poor are usually rich.Anyway,getting my moneys worth out of it and that's how you build wealth.Would love to have one of these cars you guys review but I like money better.I can't stand a sales person getting a sales commission from the work and effort put in researching investing and saving when all they do is stand around all day.Capitalism. You and your money 101. Oh ya, remember to always pay yourself first.
@@JVette01
What do you do for a living man?
I was going to ask the same.
At 22 having those cars is really impressive , but good for him. Good videos though! 🤙🏽
about to lease it, u think its worth it? i have the money bro just want to trade in my car
I’ve heard the M2 doesn’t lease well but do whatever you think is best’
Don't pay any mind to other people telling you what to do. Internet randos always worried about the next person's $$... nothing wrong with paying interest either, especially with the dollar losing value by the year.. its called leverage for a reason.
"nothing wrong with paying interest" is crazy
Why did you lease the car for three years and then just buy it at end of your lease term?
It’s more expensive to do it that way
Can you elaborate on that? With 3 yrs you paying less for lease and at the end of lease you just buy it. The interest rates are really high. Explain if you can what you mean it will be more expensive
I plan on paying off the car early so lease doesn’t make sense. I’ll pay less overall interest by buying it and paying it off early. Also, you’ll have to pay title and doc fees twice.
@@JVette01 well I am not sure if finance is your strong suit but with 10k down you lease payment would have been $800 or so. Also I believe you can payoff your loan at anything so you don’t have to wait. Well at the end you going to pay the same but why would you just not pay a lower payment until reasonable amount and pay it off. Money today worth more than money tomorrow. Why pay them banks early. Plus I believe interest rates on buy is higher than lease. Regardless good for you. I am getting my red one today but I like it with moonroof.
Do you think this car will hold value in 3-5 yrs like M1? Given I see less production.
It wouldn’t make sense to pay a lease down early or put a big DP because if it’s totaled you lose everything. Nothing wrong with leasing if that’s your thing, but not for me. Also, i can sell the car whenever I want and not have to worry about early termination fees, etc
Anyone who has a car payment over $1,000 a month is an idiot. Doesn't matter if you can afford it or not.
You can think whatever you want. I want it and can afford it easily so idc. Cars are more important to some people than others. If you’re happy with a 2004 Kia Spectra, that’s fine too!
@@JVette01 the fact that your saying I don't care is what's wrong with people in our country. Giving in to these types of payments only serves to embolden companies by legitimizing their greed. What you pay for a car doesn't just impact you.
@@zachross4624 or if you don't want the car/payment, just don't get one..
Why do you have two little cars?
Because I feel like it
Is M2 fuel efficient?
Not really but if you drive conservative, you can get decent mpg.
@@JVette01 Cause I’m planning to buy a car between M2 or maybe M240i which car do you think is better?
@@JourneySiocoM240i will be a better daily due to the softer suspenson, low end torque, and better gas mileage. However, the M2 performance outshines the m240i drastically both on track and in a straight line. It's your choice.
@@JVette01 Thank you bro
This man said manual transmission is non sense lol
True 🤣🤣
@@JVette01I forgive you but I won’t forget 😂
I would literally say dammit out loud when I saw a good G87 and found out it was a manual 😂😂
You must be making bank to afford all these cars. Congrats bro, I just got a gti and barely felt like I could afford it 😅
Congrats on the GTI!
@@JVette01 Other than a cracked windshield I've been lovin it thanks! Actually bought it based on your reviews and some others.
So glad I could help! Amazing car.
You couldn’t be further from the truth
@peteshea8010 yea I don’t think that’s true in his case. Pretty sure he has a video where he talks a little about finances and how he got the cars. Also, depending on interest rates financing can be the smarter option than cash
78k is insane
i bought my 2020 brand new in feb of 2020 for 63k cash out the door
Taxes are high in CA. Also this one is highly spec’ed aside from the carbon package.
Can you let us know what kind of insurance coverage and policy you have so we know what the $930 consists of?
Did you try out the bucket seats before choosing the ones you have now? You think the buckets can be used daily?
My buddy has an M4 with the carbon buckets and they’re not bad when driving but getting in and out they’re terrible
Is it faster than your R?
Yes. Stay tuned, I’ll do a video on it
@@JVette01 cool! 😊
Did you by chance mention your career and how you were able to afford the car?
10:17 Nvm. Sounds like sales in any role is always worth it.
I’m 42 and you are more mature than me at 22
I do the same thing with respect to financing. I rarely keep a car for more than 2 years, and most of time, it more like one year. I always say, cars are my vice. In the last four years, I have owned a C8 Corvette, a new Golf R, a M4 Competition Convertible, and now my 2024 M2, and those are just the performance cars that I have owned in that same time frame. I also had a GTI and a Lexus ES350 FSport. :) I could be doing a lot worse things with my money. I have owned 50 new cars since I was 21 years old. It sounds like you might catch me. Great Video! Keep up the good work!
Haha that’s awesome! How would you say the c8 compares to the m2 straight-line acceleration wise?
The C8 was definitely quicker with respect to launching the cars from a dead stop. I saw a couple of 2.9 0-60 times in the C8. I haven't been able to obtain those numbers in the M2. Of course, the C8 is a good bit lighter than the M2 with similar HP. Both cars are exceptional though and I don't have anything negative to say about either one. I would like to see someone do a rolling test from 40 or 50 miles per hours with both cars. The M2 seems to pull hard from that speed. Thanks for replying!