I understand that the current political and economic climate is a very different beast of what it was 5-7 years ago. I have owned 4 MINIs since 2002, and the first two (2002 MC CVT and 2004 MCS) were sold privately within days of posting them online.

Fast forward to last week. I have had my 2005 R53 S hatdtop, 97,000 miles posted here and elsewhere for about a week. Not a single email, PM or phone call but plenty of views. Needless to say car is near mint condition and priced below market below to move it out.

Seems to me that the current economy is making people hesitant to spend money on big ticket items, even fairly cheap used cars. Number two, I have a feeling that most potential buyers tend to shy away from higher mileage MINIs, specially those that are near, at or above the 100K mile mark, regardless of current condition of the vehicle and its service/repair history.

If you are selling your first (or second gen MINI) what has been your experience? I am beginning to think that trading it in appears to be the only feasible option, albeit a very expensive convenience.

I am still patiently waiting for a buyer to show up, but I am not holding my breath.

 

Post a link so we can judge whether you have the car "below market". If you're not getting any action, that sorta - almost by definition - says the car is above market.

My $0.02, is that a couple factors may be working against you.

First, it is a VERY tough time to be selling an enthusiast car in almost any market other than Calif and S. Florida. The cars that tend to sell well in the late Fall are utilitarian cars and 4WD cars.

Second, I think we're in a maturing phase of Mini used value. We got used to the idea that we could sell an 8-yo Mini and get back half of what we paid and still think this should be true, but the market has matured and these kind of used values are no longer being supported - things have dropped back to earth and now used values are more like other cars. It's still a desirable car, but not one that has much cult following anymore.

I agree with you that buyer resistance with any used car rises quickly quickly when a car gets 100K+ miles on it, especially a small car, and especially+ with a Mini which has a checkered reputation as requiring BMW-style infusions of big money to keep the car on the road with high miles.

- Mark

Edit: Found your ad and I think your price is pretty reasonable - I thought you might have been asking $12K or so. Where else are you marketing your car? I would think for $7500, you could find a buyer pretty quickly. If not, I'd hold onto your car until spring.

A couple of suggestions on marketing - your car looks good, but could look better. I'd get that detail and new picts. Also, please don't take offense, but I find the little badge you have on the grill pretty tacky looking. Also think the cupholder (yes, I know it is stock) looks awful - I bought one for my 2004 and only used it for a couple days before I couldn't stand it any longer.

I know these are nitpicks, but presentation and having a car look clean and stock is everything to selling it.

 

My R53 sat on the lot for at least 2 months before I purchased it and was in great shape with only 43k on the clock...the dealer was willing to cut 5k off the price just to move it

 

Thanks, Mark. Your feedback is very valuable.

I did get the car detailed so I plan to replace the photo set soon.

 

The region where you are selling your car also plays a big role in how quickly it's sold. I got my '06 MCS with 96k miles out of state because the same car would have easily sold for 3k more it it were closer to my home. Where have you listed your car? You may attract a few out of start buyers looking for a deal.

 

I am in Florida. My '02 MC CVT was sold to a NAM member in CA and the 2004 MCS to a local buyer. Both of these sales were in cars with far lower miles and several years ago.

I have not sold a car privately in about 5 years, so I am kind of taken by the lack of response.

My 2005 is one of the lowest priced specimens in a 250+ mile radius. Most dealers and private sales want exorbitant amounts of money for these cars used. I tried to price mine realistically and below market. Perhaps still not low enough..

 

There is always the possibility of setting the price "too low." I found your ad and it says you're trying to move it asap...which could make potential buyers think theres something you're not telling them and you want to pass off your problems onto them. Humans are a very cynical creature...

 

Pictures also make a big difference (for me anyway). The guy who I bought my MINI from had terrible pictures that hardly showed the car. Now being the person I am, who likes to see pictures of the car at all angles, including interior, it surprised me I even wanted to make the almost 2 hour trip to see it. But it was Indi Blue and I HAD to have that color

$7500 is a great price for a first gen MINI! My '03 was $8500 with 98k. He wanted $8900, but there were some things wrong with the car, so he willingly went down in price. Don't be so quick to trade the car in, cuz the stealership with gauge you on price. I refused to trade in my '05 Mazda3 5-door because I knew I would only get about half of what it was worth. I ended up selling it in 21 hours for $8k (on Craigslist), which was my goal, which led me to hurry up with the purchase of my MINI anyway.

Just wait and see a little longer, and hopefully you'll get some bites Try listing it on other websites as well, maybe Craigslist or AutoTrader (I sold my '98 Maxima within a week on AutoTrader, and it had almost 200k miles!) Good luck!

 

I sold my loaded '04 MCS with Supersprint exhaust, 17% reduction pulley and cold air intake with 165k miles on it in March of this year for $8000. I took very good care of the car and fixed anything that ever went wrong with it. It even had the original supercharger on it, which is rated for 100k miles. If someone really wants YOUR car, I don't think the economy is going to keep them from finding a way to buy it. Be patient and cast a broad net.

I hear the.CVTs are sometimes referred to as "time bombs" so it may be harder to sell one of those than a manual version.

Sent from my iPad using NAMotoring

 

The dealers CAN offer a warrenty and often sell extented warrenties.....and then add in most mini's can get $$ to matain as they start to hit 100,000+.....explains lots about private party sales...that and gen1 is not a current model, but several years out of production.....a car that share most features with ones selling new at the dealer always sell better!!

 

Then look at the typical demographics of a gen1 mini buyer...it was once the well heeled, but judging from tge new threads, many folks are buying them thinking they are kinda like a fun honda...then are stunned when a $2000+ repair bill appears.....and it only fixes one of 5 issues.
surely the oldest gen1 mini's have helped to soften the market....heck when you are competing with a nearly identical 10+ year old car....would you rather have a 50,000 mile '03 or a 100,000 mile 05'.

 

I was recently in the market for one and ended up paying 10k for a 2007 MCS with 86k miles on it, just to give you an idea.