The wife's 04 dark silver MCS's lease is up in July. We are debating what to do with the car. She has a Clubman S on order scheduled to arrive in July. We considered trading it in but MAG only offered us the buyout price which is roughly $13,400. That seems too low to me and we're more inclined to just keep it ourselves or sell it private party to make a little bit of cash. I've done some looking at KBB values and the NAM marketplace but its hard to get a good feel for how realistic the prices you see are. So who better to ask but the local MINI experts.

-04 MCS with 44,000 miles
-Cold weather package
-Premium package
-Sport package
-Rear fog lamps
-HK sound system
-Cloth seats

What do you guys & gals think is a fair range for what this car is worth locally in a private party transaction? Its in very good shape overall for its age in my opinion. A few very small paint chips, a tiny door ding and the wheels have some curb rash. Car is in excellent mechanical condition. This little MINI has been rock solid for us.

 

I owned my 2004 MCS and I received $14,000 on trade.
My Specs not as nice as yours, but I had less mileage. When I figured that the 14000 was actually more like 15000 in trade with sales tax I took the deal.
-04 MCS with 14,000 miles
-Premium package
-Cloth seats
Chili Red/White Roof Bonnet Stripes.
This might help, but with all the extras, I would think it should be higher.

 

If you reach the end of the lease and have not sold it... offer it for slightly more than the $13,400 offer. It'll be gobbled up fast and you will give a great deal to an enthusiast.

 

Well if its only worth slightly more than trading it in at $13,400 its not worth going through the hassle. Trading it in nets me a $900 tax savings purchasing the Clubman S.

 

When you figure your price out send me a PM. I've been looking for one and I'd like to come look at it.

 

Better check with the dealer on this. I thought you had to "own" the vehicle being traded in to get the tax break. Does the tax break also apply to leased vehicles?

 

The rule used to be trade in value was not taxed only on used cars. Might want to check that out as well, I know some times the dealer gets confused on the rules. I used to work at a bank in their car loan department and often times dealers had to bring people back in to tell them they owed more tax, usually not a pretty sight

 

Yeah, you don't get a tax break on the residual value of a lease.

 

After doing more in-depth research on used Mini pricing we've decided to sell it private party. KBB values it in good condition at $17,790. Edmunds $16,250. Just about every single listing I can find for a comparable MCS on NAM, Autotrader and Craiglist lists for KBB value or higher.

The check for the lease buyout will be going out this week to Huntington and we should have the title in-hand in about 2 weeks. We're looking to move this fast so we're going to ask $16,000 if anyone is interested. We'll list it on NAM, Auotrader and Craigslist in about a week.

 

That's a good price. You should have no problem selling.

 

I just bought my Pure Silver '04 MC from a private party in Akron for $14,400. It has 42k miles, auto, leather, heated seats, auto air, auto wipers. I'd assume a MCS could get atleast another $1k but not really sure.

My car is very clean by the way, the usual rock chips on the bonnet but no other exterior or interior flaws.