You can spend way less than $121,000 on a luxury convertible.
BMW wowed us when it first revealed the new 8 Series Coupe. Now, our jaw has gone from dropped to fallen off with the reveal of the new 8 Series Convertible. Like the coupe, the convertible will initially be available in M850i xDrive trim with a 4.4-liter twin-turbo V8 pumping out 523 horsepower. The 8 Series Convertible is also extremely quick, with a 0-60 mph time of just 3.8 seconds - just 0.2 of a second slower than the coupe.
Pricing starts at $121,400, making it $9,500 more than the coupe. However, if all you want is a fast, luxurious convertible, there are plenty of cheaper alternatives on the used market. Since this is the BMW 8 Series, after all, we have chosen eight cheaper used alternatives.
Although it is nowhere near as powerful or as technologically advanced as the new 8 Series, we'd argue few cars are as beautiful as the Maserati GranTurismo. Used Maserati cars tend to plummet in value, which is why used GranTurismo Convertibles can now be found for less than $40,000 on the low end. The car is powered by a Ferrari-designed 4.7-liter V8 producing 454 hp. Yes, it is not as powerful as the BMW but it sounds even better. For less than the price of the 8 Series, it is even possible to find the more hardcore MC version.
The BMW 8 Series takes the place of the old 6 Series in BMW's lineup. Instead of buying the latest and greatest BMW, some people will be more comfortable taking enormous savings on an older model. The last generation BMW M6 Convertible, the F12, can now be found for less than $40,000 on the low end. Like the new 8 Series, the M6 is powered by a 4.4-liter V8. However, the M6 is actually more powerful with 560 hp.
The BMW 8 Series may sit as the flagship of BMW's lineup but it still cannot compare to the prestige of a Bentley. For less than the cost of a new 8 Series, it is possible to buy a Bentley Continental GTC from around 2013 or 2014 (post facelift). Even at this price, we managed to find certified pre-owned examples with both the 500-hp 4.0-liter V8 and 567-hp 6.0-liter W12.
The Audi R8 Spyder may not fit the same mold as the other convertibles on this list but we still like it at this price point. We found plenty of used examples with both the 4.2-liter V8 and 5.2-liter V10 with the automatic and manual transmission. Obviously, we prefer the gated manual, though the dual-clutch transmission in the 2014-and-later cars is pretty competent. Even at this price, we managed to find an R8 GT Spyder, which has a 560-hp version of the glorious V10 engine.
Most 911 variants tend to hold their value extremely well but the Turbo models are the lone exception. We found plenty of 911 Turbo and Turbo S Cabrio models from the 991.1 generation for less than the price of a new 8 Series. This generation 911 Turbo packed 520 hp from a 3.8-liter twin-turbo flat-six. The Turbo S bumped the power up to 560 hp going out through a seven-speed PDK transmission. While not as luxurious as the 8 Series, the 911 Turbo Cabriolet can hit 60 mph in under three seconds, making it the quickest on this list.
Few cars depreciate as quickly as a Jaguar, which is great news if you are in the market for a used one. The Jaguar XKR Convertible is powered by a 5.0-liter V8 engine pumping out 510 hp. We also found several examples of the drop-top XKR-S, which produces 550 hp. We love the old-school styling of the XK and believe it is one of the prettiest cars on this list.
While we are on the subject of pretty cars, how about the Aston Martin DB9. Yes, for less than the price of a new BMW you could have a bonafide Aston Martin. By the end of the DB9's life, the 6.0-liter V12 produced 510 hp. The newer DB9 examples can command up to $120,000 but the older models can be found for less than $40,000.
If you don't feel like waiting for the M version of the BMW 8 Series, just turn your attention to AMG. For less than the M850i, you can get either an SL63 or SL65 AMG Roadster. The SL63 is powered by a 5.5-liter twin-turbo V8 producing 577 hp. We also found a few examples of the SL65, which packs a 6.0-liter twin-turbo V12 producing 621 hp. The SL63 can be found starting at around $85,000 for the most recent, facelifted R231 model, while the SL65 is a bit more expensive.