Life has changed and i need a bigger vehicle. Been trying to sell my mini for a few months now and nothing its down to the "last hour" and i need to get rid of it. Stealership gave me an laughable low offer and wont budge because minis are not "desirable"

Ive taken the average of Galves,NADA and KBB and am expecting a bit lower then those just because. A friend of mine said i should try carmax because they seem to "overpay" or at least pay close to NADA.

The closest carmax is 2 hours away, so im looking for experience or reviews. Did you get close to what you wanted, how was the pricing?

Thanks everyone!

i have a 2011 Clubman S blacked out with upgraded mini rims in absolute flawless condition with only 18,500 miles, pictures here just for reference (its also for sale for $24,000) http://www.leasetrader.com/2011_Mini...n_181857.xhtml

 

I've sold 2 cars to CarMax. 1st car was a Mazda, got more than what I was offered privately and from dealers. 2nd was last week, and it was my '12 Countryman ALL4. I received 175$ more than I had expected. I did not bother with the MINI dealers as they've been useless in fixing my car and going back would only lead to me getting pissed off again.
Title in hand for both if it matters. I've not tried to trade in/sell cars with $$ still owed.

 

I didn't try selling my mini to Carmax but when I tried to sell my BMW X5 to them, they low balled me. It was a 2002 flawless with no issues and never been in an accident or painted. They offered me $9000 for it, took it home & Craigslist it, ended up selling for $11,500 within a week from listing.

Another time I took a '98 BMW 325 convt to them and they offered me $2500, Craigslist that one too and it sold for $6000 within 48 hours. I only use them as a jump point to see how much they offer. I would just take it there to see their offer, but you're 2 hrs away so you have to decide if it's worth it or not.

 

I tried to sell my 72K '03 MCS to them in 2009. They lowballed it. I sold it privately thru NAM listing within days and realized about $2500 more. Only down side was I drove it 8 hours and flew back to town. That cost me about $250 or $300 and a day.

 

thanks guys!

IDK what todo. Ive had it listed on nam for quite some time now with nothing, auto trader,for sale sign etc. 24k is well below market value for a private party sale, not sure why no one has bitten.

i guess it may be worth a try taking it to carmax, FWIW the dealership offered $16,500 for it, at that rate i might as well keep it for the duration of my lease and just turn it in 6 months and have two car payments lol

 

I hate jump on this, but if you haven't been able to sell your MINI after months of trying, the "sealership" might be quite correct in that in your local market, MINI's are not all that hot or desirable. You might have to bait a buyer into having an interest in your MINI by offering it at a very low price.

From my own experience selling my cars privately, they either sell quickly, or they simply don't ever sell.

CarMax might be a reasonable choice, since they can shuffle cars between their stores, and move models to areas that are a better match.

 

FWIW in my opinion the Mini dealer is low and you are high. Huge difference of $7,500 is out of wack??? Try something in the $19's on CraigsList.

 

Perhaps this could be discouraging prospects:

"When i test drove my clubman i kept telling my self that it was better then the r53 it was better. But its not, it really isnt and it bother me. Its too refined. I feel like im just driving a car from point a to b not a toy and i just dont have the connection with the road i did with my r53. I cant stand that theyve become a me2 car and every owner i happen to see in the parking lot they dont care to talk about minis, its just a grocery getter. When at the dealer ship the owners sitting are always miserable to talk to. Its just not a mini to me. I cant stand the turbo, cant stand the blow off, cant stand the lag..."

 

FWIW - Carmax does not like aftermarket rims or modifications - put on the stock wheels if you have them - they will offer more with them on.

 

IMO, 24 is a little high for private party... Seems like you can get a new one for close to that, but I haven't done much research on your specific type of mini. Where are you located?

 

If you take it to Carmax, I wouldn't tell them you drove 2 hours to get there.

 

OK - I obviously have never leased a car

" at that rate i might as well keep it for the duration of my lease "

you can sell a car you lease?

 

Technically no, because you don't own the car. In practice, leasing and financial companies have procedures for paying off the lease and transferring title to a 3rd party buyer.

 

In practice, leasing and financial companies have procedures for paying off the lease and transferring title to a 3rd party buyer

ahhhhh ... and I'll bet the cost of this is high which would encourage one to seek premium sales $$ because you're not "selling the car" you're trying to finance a lease buy-out which includes buying the vehicle residual value.

Thanks .... that makes sense when coupled with what the CPA I sleep with said . . .

wrt CARMAX I've sold cars to them twice - both times surrounding estate issues. I was left with cars I did not want and wanted to get rid of fast. Both times I got the KBB trade in # which isn't great but both cars had issues too so I was happy. And happier that the entire transaction took about an hour versus advertising, and showing, and and. Drove in with car and title and drove out with a check (spousal unit picked me up!)

CarMax ain't gonna make you rich but WILL do a deal FAST and time is money in my opinion.

 

FWIW, Sticker on it was 32,900 so you cant get a new one for 24, atleast not optioned up. and the wheels are not aftermarket, you can order them from the mini factory as an "upgrade"

you can also sell a lease, your not "locked into it" ive verified numerous times with BMW financial that there will be no additional fees as long as the "payoff" is met. The only thing is your paying off the residual, so in most cases your upside down which is evidently what i am. my contractual residual is 19,973 so BMW evaluated it to be wayyy off. payoff is 21,800 as of today

Im taking it to carmax on tuesday, will let everyone know what they come back with. Nothing on my mini is aftermarket except for the CAI which i would take off anyway. Everything else is OEM mini including the mirror caps. NJ and the Philly market is one of minis biggest markets so the dealership is spewing, they know my car is desirable and think they can make a cool easy profit. Every single sales person/and manager was oogling over it lol. the same goes for everyone that sees it! KBB,NADA and GALVES averaged together are 22,700 trade in and private party is 25,300. I know KBB is usually way off but NADA and Galves are way more reliable, at least i thought so

 

Then why haven't you been able to sell it after a few months of trying?

It has to be something wrong like, (1) there really isn't a hot market for used MINI's, or the model you have, in your area, or (2) buyers think you are asking way too much. I mean, if potential buyers coming to see your MINI are "oogling" over it, but walk way, something has to be wrong.

As to new vs. used prices, people tend to compare a used price to the base price of a new one. Buyers don't mentally add for options or accessories. Its the car version of a home that's been "over improved for the neighborhood". If your MINI has fancier wheels than another one that's for sale, people will pick yours over that other one, but will not pay more. That's just the typical buyer's mentality.

 

I've sold two MINIs to Carmax and have 'used' them to trade in at the dealership by going to Carmax first, getting a written offer, then taking it to the dealer and saying, 'match this offer or I'm not buying the car.'
The last time, I went to Texas Direct Auto and got a quote, then to Carmax which insisted that "nobody wants to buy a MINI off the lot, so there's no market for them" and offered me $2K less than TDA. I took the TDA quote to the dealer, obviously.
The dealer matched it and in Tx, you get about a $1500 tax break if you buy from the same place you sell the trade-in to... so I got the best value plus an extra $1500, plus the Spring Cleaning savings and the $1000 you-ification allowance, plus my MA knocked another grand off it and I got 0.9% financing. I'm a pretty happy guy right now, especially considering this car was custom ordered!

 

Sounds like you have the TX system worked out!

It always helps to be buying another Mini when exiting a lease early like this guy is trying to do. Sounds like he bought his next car a little early. I've been there before. Actually every time I buy a new car when I only have one vehicle. Selling the old one has ranged from days to months...

It's always easier when you have a pleasure car too. Just list the old DD for sale and keep driving it while you try to get a reasonable price. Once it sells, drive the pleasure vehicle until you get the deal you want on the next DD.

I've always felt swapping old to new DD's was a lot like selling an old house and buying a new house, when you only have one car. Everything has to fall in place at the same time or your life gets turned upside down.

I like the way TX Guy "Coasted" through his example.

 

a used car is worth what a buyer is willing to pay for it

and not a penny more

if I think my 79 is worth $20,000 and have no takers as it sits in the garage the value is?

 

I'm thinking about being on the other end. The values they put on the cars seem reasonable and I have a slight bit more faith they are mechanically correct than a used one I would find in the wild. Also, haven't had any luck selling the Jag yet so they may get it for anywhere near a reasonable offer on it -or even a slight unreasonable offer (shh- don't tell them that last part)

 

It has been my experience that CarMax is typically more interested in cars about 4 or 5 yrs old or less. These are what you will generally find on their lots. With older cars many times they will just sell at auction and they will offer less for these.