MINI COOPER :: North American Motoring

zonedguy · #1 07-01-2009, 12:53 PM

Hey there motorers,

My office situation has changed recently such that I no longer need to make the commute (40 miles a day, 5 days a week) that was my reason for buying my MINI. I'll now be commuting into NYC via the train. As much as I love my MINI to death, it is clear that it is not financially responsible to keep a car just so I can drive to the grocery store every 2 weeks, go on MINI rallies, and take the occasional jaunt into Jersey. I am therefore going to sell my MINI, hopefully to someone who will love it just as much as I do. I've been considering this situation for a while, and am hoping you all can help me with determining a fair value for the car. I'm mostly hoping to come out above what I owe on my loan, which I think is an entirely reasonable goal, and anything else on top is a bonus.

I've done the usual value calculators for Private Party Sales at KBB, Edmunds, and NADA and frankly that is where my confusion begins. They are all over the place in terms of prices. Furthermore, they omit several of the OEM standard items that I feel add additional value (headliner, rear fogs, etc.) and character to a MINI that would be recognized by anyone considering such a purchase. Am I wrong? Do those items have no value even though they are OEM options?

So I put the question to you, based on the list and description below, what is a fair value for me to be asking? (If you care to make regional comparisons, I'm in zip code 07302)

2008 Mini Cooper S - Delivered June 20th, 2008
19,500 miles (95% highway)
Lightning Blue, White Roof, White Mirrors, OEM White Sport Stripes
6-speed Steptronic Automatic Transmission
16" White Bridgespokes with OEM All Season Run-flats w/ decent amount of tread left
Xenon Headlamps
Cold Weather Package
Multi-Function Steering Wheel
Bluetooth + USB/Ipod Adapter
HiFi Sound Upgrade
Dynamic Stability Control
Anthracite Headliner
OEM Center Arm Rest
OEM White Turn Signals
Cloth Seats
Factory Installed Alarm
Rear Fog Lights
Rubber Mats (front and passenger)

Aftermarket additions (do not expect to recoup cost, but listing just to know they are there)
Blue LED interior lighting replacement (except map lights)
Alta 4" Stubby Antenna

Thanks for your help!

Dealer maintained (including optional oil change after break-in) with all service records.

Condition:
1) The paint on the front has definitely fallen victim to road rash, wish I had the extra cash for a clear bra when I bought it! I have a Dr. Colorchip repair kit in hand, simply haven't used it yet.
2) Plastic cover on driver's rear turn signal is cracked due to me backing into trash can randomly placed in the middle of a parking lot.
3) There are two small indentations nearly side by side (not really a dent, but bent inward instead of with the curve) on the top of the hood from I have no idea what.
4) A small verticle indentation over the passenger rear wheel courtsey of someone's car door. No paint damage.
5) Driver's seat cloth is slightly stained as my roommate spilled coffee all over the seat and didn't tell me until a few days afterward.
6) It could use a thorough cleaning on the inside before it is sold in my opinion. But then again I often recieve comments about how "clean" I keep my interior even when I think it is dirty. Not smoked in ever.

tokyomini · #2 07-01-2009, 02:25 PM

My guess is if selling to a private party:
Ask $23,695 and expect to sell it for around $22,300

Dealer trade in? Minus about $1,800

zonedguy · #3 07-01-2009, 02:36 PM

Quote:

Originally Posted by tokyomini

My guess is if selling to a private party:
Ask $23,695 and expect to sell it for around $22,300

Dealer trade in? Minus about $1,800

Thanks! Any other opinions out there? Would love to hear multiple view-points.

**spyderbret** · #4 07-01-2009, 03:23 PM

At auction your car would bring about $19,800 on average. That's at a dealer auction where they buy cars for their lots...

$22,000-$23,000 private party is a good range to figure....

Good luck!

zonedguy · #5 07-02-2009, 12:17 PM

Shamelessly bumping for additional thoughts and opinions.

sequence · #6 07-02-2009, 01:15 PM

I agree with most of the above, but I'd dock ya a thou or so for putting 19.5K on that car in one year, highway or not, it doesnt matter. That's still a high-mileage car.

Ask $22K, settle for $20K

sequence · #7 07-02-2009, 01:19 PM

Quote:

Originally Posted by zonedguy

My office situation has changed recently such that I no longer need to make the commute (40 miles a day, 5 days a week) that was my reason for buying my MINI.

Going into NYC, you consider that "highway" driving???

Also, what was the car's MSRP? (not what U actually paid, if less.)

toolazyforalogin · #8 07-02-2009, 02:04 PM

lol @ sequence - he must not realize the trip from Jersey city to NYC is maybe 7 miles at most (although it could take you 2 hours to get there)

how about some pics to help with figures. It sucks that you have to sell your car b/c I know how much you do enjoy it!

Jeremy1026 · #9 07-02-2009, 02:07 PM

You have a lot of small blemishes in your paint. That will hurt your resale. Then the stain on your seat will hurt your resale also. I'd be you lose about $1000-$1500 in those two items alone.

sarafil · #10 07-02-2009, 02:55 PM

$21,000-21,500 asking price... any real offer that starts with a "2" and take it!!

zonedguy · #11 07-02-2009, 05:18 PM

Quote:

Originally Posted by sequence

Going into NYC, you consider that "highway" driving???

Also, what was the car's MSRP? (not what U actually paid, if less.)

Well, I NOW go into NYC. I was driving to a Westfield, NJ based office from Jersey City which is 22.1 miles each way, virtually all of which are on highways.

MSRP on the window sticker is $29,550.

TheBigNewt · #12 07-02-2009, 05:30 PM

What do the Edmunds/KBB boys say? I realize they quote different prices for the exact same car, that's always been true. They can be 10% different in my experience. But that's what a buyer is gonna look at.

zonedguy · #13 07-02-2009, 05:39 PM

Quote:

Originally Posted by TheBigNewt

What do the Edmunds/KBB boys say? I realize they quote different prices for the exact same car, that's always been true. They can be 10% different in my experience. But that's what a buyer is gonna look at.

KBB = $21,330
Edmunds = $21,666

Jeremy1026 · #14 07-02-2009, 05:40 PM

Quote:

Originally Posted by zonedguy

KBB = $21,330
Edmunds = $21,666

Based on what condition?

TheBigNewt · #15 07-02-2009, 06:04 PM

Probably "Good" condition. $29.5k sticker sounds high for that car (no leather, no packages, no 17" wheels). You sure that's the number without tax? If so then KBB price is only about 72% of sticker at a year. That sounds low to me even with an extra 6k miles above average. But maybe the dings'll get you.

sarafil · #16 07-02-2009, 06:55 PM

Quote:

Originally Posted by TheBigNewt

Probably "Good" condition. $29.5k sticker sounds high for that car (no leather, no packages, no 17" wheels). You sure that's the number without tax? If so then KBB price is only about 72% of sticker at a year. That sounds low to me even with an extra 6k miles above average. But maybe the dings'll get you.

agreed on the MSRP... I just did a rough calculation based on options listed and I came up around $27500. I wonder if he is adding NJ tax (7%) to his $29500 number?

Based on the KBB and Edmunds numbers he posted (which are about what I was expecting they would be), he should try to get at least $20-21k for it.

mini cooper mini · #17 07-02-2009, 11:54 PM

You might consider a nice set of Wet Okole seat covers for $250 and let a custom auto detailer do some work on the outside of it for you. Make it look real sharp. Also, give the new owner a REALLY good deal as well. If the new owner can save a bit from the sale of the car and it does not set you back too much, everyone wins.