I'm thinking about trading up for an '05 Cooper with the new Getrag transmission. I'm trying to figure out the economics of the decision, which will hinge on how much I can get for my 9/2002 build 2003 Cooper this September, when it's two years old and will likely have close to 25k miles.

For the moment, I'm ignoring the Borla exhaust and other mods that I may or may not switch back to stock and keep for the new car.

First place I checked was Kelly Blue Book (kbb.com). Put in my car's present stats (15,500 miles), and their calculator told me $19545, which is only $400 less than I paid TOTAL (taxes, registration, dealer fees)!! I then entered 25,000 miles, and it told me $17,970, which is a few hundred less than my car's original MSRP.

Are people still actually getting these kinds of inflated prices? If so, this decision is a no-brainer for me. Can anyone point me to somewhere where I can see actual cars for sale, or recent transaction prices at auction, etc.? I've done searches here and at Gabe's site, but haven't uncovered too much real world info.

Does anyone think the resale values for 2003s will drop off once the new facelifted 2005s are available?

I had been thinking that I'd be ecstatic if someone would give me $15,000 for it!
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"Meine dispatcher says there is something wrong with deine cable"

 

The Kelley Blue Book is just a guide and you will not get that on a trade - maybe on a private sale. Also keep in mind that the KBB is adjusted every two months.

Earl

 

Oh, I'll definitely sell the car privately! I'm not dumb or desperate enough to trade it in to the dealer. I'd be willing to drive it quite a distance for a sale as well.

Has anyone here bought a used 2002 or 2003 Cooper (non-S) with less than 25,000 miles on it? I'd be interested to know what you paid, and when. You can PM me if you'd rather not post it.
_________________
"Meine dispatcher says there is something wrong with deine cable"

 

Chris:

Go to:

http://www.edmunds.com


And then pick "Edmunds TMV (True market Value)" used car appraiser.

Based on your Zip code, model, mileage, equipment and condition, the calculator will give you pretty much a very dead on idea as to how much you can expect to get for your current Cooper in either trade-in or private sale. I personally don't trust Kelley's Blue Book used numvers because those are typically overstated. Edmund's calculator is much more in tune with the current used car market.

 

I bought a 2002 MCS with premium pkg, leather/lapis, tinted windows, other minor stuff but basically stock.

Bought it in August 03 from a private party.

It had 13.5K miles, I paid $21K in California, and while I'm sure there are those who will say I paid too much I couldn't touch it when I was considering buying new and I have no regerets...car has worked wonderfully and I'm very happy with it.

Good luck! Jenni
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Kewpt Up 02 S Dark Silver/White/Chrome...........

Ride a horse, Drive a truck, Fly the Coop!

 

Here in Miami, the few used Coopers and MCS on used car lots are going for full retail or almost for what the original owners paid for these cars when new. The MINI after 22 months in the US market the MINI is still fetching impressive resale values, even beating Porsches and Mercedes cars at auctions!


I just ran the Edmunds.com TMV used car appraiser for my wife's 2002 Cooper CVT (8/2002 build) with 19.4K miles:

Car is in perfect condition

Only options are CVT transmission and MFSW. Everything else is bone stock.

Price paid for the car in September 2002 (MSRP before taxes) $18,500


Current used market value according to Edmunds based on my Zip Code: $18,238


Her MINI has only depreciated $262 in 17 months of use!!!

 

OK, just did the Edmunds one. They added $20 because my car is red. :smile:

 

Chris, I am glad to be of any help. So...2005 Cooper here I come?

Seriously, if I were you I would wait a couple of months, put an order for a new '05 Cooper (My dealer took my '04 MCS order 9 months before the new year production started) and while you wait for your new '05 Coop, put an ad in the paper to sell your current '02 and bingo, you'll be laughing all the way to the bank!

Any new colors? Sticking with CR? Thinking about adding/deleting equipment that you have or currently don't have?

 

Interesting to note that bright color paintwork brings in higher resale values than darker non-descript colors. Red sells better than Pepper White and so on.

 

>>Any new colors? Sticking with CR? Thinking about adding/deleting equipment that you have or currently don't have?<<

I'll definitely stick with Chili Red/White, as well as the sport leatherette seats, fog lights, sunroof, and MFSW. I'll switch to the anthracite interior. I've spent many months ranting about the auto A/C, but I'd want to drive or ride in a car with manual dials before making that decision. Trip computer stresses me out more than anything, since the car's fuel economy has been disappointing. Not sure if I'd do that again. And I abhor the the new 3-spoke steering wheel; don't want that either. The only thing I'd seriously consider beyond what I have now are 16" wheels.

 

chrisnl - a bit premature, but if you want to "dump" the Borla, let me know...

 

The manual AC is great. 3 simple straight forward dials that are easy to adjust. To me automatic A/C in a car like the MINI is an oxymoron...not needed. The manual A/C controls are sturdy, look good and get the job done.


The Anthracite trim is also an excellent choice. It looks the business and outstanding quality too. It does not scratch or peel like the hideous bright silver trim that was the only choice for Cooper buyers back in '02. Have it in my MCS as well.


You'll also find that the dashboard fan for the A/C ventilation in the newer cars is much, much better compared to the '02's. The new fan is quieter and the A/C cools down much quicker in my '04 than in the '02.

Build quality inside and out is better in newer cars to, no questions there.

I also recommed taking a few music CDs and test the HK stereo upgrade. I find the stock stereo (Boost) to be lacking in bass and clarity. The HK in my MCS addresses those faults nicely.

I like the trip computer, because I like gizmos but is not needed. Even if you don't get it, the new cars have a readout for the speed in the tach...nice eh?


Sticking with CR/W is a nice idea too. The 16" wheels are nice and for '05 you'll have more choices (go to: bridger.us/mini) plus the 16" rubber gives better ride and handling than the 15" standard tires.


I think you'll do well my friend.


A

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'02 Cooper CVT PW/B, Bone stock (Hers)
'04 MCS CR/W/Chrome Grille and mirror caps (His)

 

Remember, Kelly Blue Book is an average of what people are asking for their cars, NOT what they are selling for, which is why I never use them as a guide because the prices are always way too high. It should clue you in when you go to a used car lot and they have the Kelly Blue Book printout on the car window making it seem like they are giving you a great deal. For a more realistic price guide try the NADA book at http://www.nadaguides.com/Values/Val...1&wPg=1202. For the best insight try either of these two: 1) call your bank and ask them what the loan value is for the car - they will tell you how much they would lend to but the car, which is a pretty fair judge of the market, or 2) the best method is to find a dealer that will let you look at a copy of the NADA Black Book which lists values that are calculated using wholesale auction sales prices for your region. No dealer is going to give you more for your car than he can pick up the same thing for at an auction.

 

>>Interesting to note that bright color paintwork brings in higher resale values than darker non-descript colors. Red sells better than Pepper White and so on.

Everyone knows red is faster .

 

The best value that you can find is (and you’ve got to have a friend in the used auto business) is the price paid at the last auction at you local regional dealer auction house for a MINI spec-ed close to yours. I’m not talking about those “auction-retailers” that you see on late night TV. But the place where the pros go to buy and sell. That will give you the real current wholesale value of your car. That’s what a Dealer is willing to pay for a used car. If you can sell directly to a new buyer, then you can add more dollars. But remember, a dealer could be offering additional value so he’d have a little higher retail price. Each auction prints a book of the last weeks actual sales with the prices paid. I've seen new car dealers use this to establish the value of a trade-in.

I did know of a cattle rancher who had a number of his cows disfigured by some local kids. Late one night they broke into his barn and cut all the tails off of the cows.

The poor rancher had to take them to the auction and sell the cows at wholesale prices because he couldn’t re-tail them.

 

>>The best value that you can find is (and you’ve got to have a friend in the used auto business) is the price paid at the last auction at you local regional dealer auction house for a MINI spec-ed close to yours. I’m not talking about those “auction-retailers” that you see on late night TV. But the place where the pros go to buy and sell. That will give you the real current wholesale value of your car. That’s what a Dealer is willing to pay for a used car. If you can sell directly to a new buyer, then you can add more dollars. But remember, a dealer could be offering additional value so he’d have a little higher retail price. Each auction prints a book of the last weeks actual sales with the prices paid. I've seen new car dealers use this to establish the value of a trade-in.
>>
>>I did know of a cattle rancher who had a number of his cows disfigured by some local kids. Late one night they broke into his barn and cut all the tails off of the cows.
>>
>>The poor rancher had to take them to the auction and sell the cows at wholesale prices because he couldn’t re-tail them.
>>

Excellent advise. I suspect the numbers quoted here will be pretty close to your local "Dealers only" auction. You can also get a hold of a licensed auto broker that frequently goes to these auctions.

 

Oh no, retail......

 

Just to clarify, my car is a 2003 model year, built in the first week of 2003 model year production, September 2002.

I'm skeptical of those nadaguides.com values. They give the same value to a 2002 that they do to a 2003. Plus they have you choose between "Cooper 2D sedan" (NOT!) and "Cooper-4-cyl.-5-spd.-Coupe 2D", and the values are different.

Oh, and dandp - I'll be keeping the Borla for the new car if I decide to remove it!
_________________
"Meine dispatcher says there is something wrong with deine cable"

 

Try http://www.cars.com, http://www.autotrader.com for MINIs for sale.

_________________


http://www.miniswag.com - An MCO sponsor

 

>>Interesting to note that bright color paintwork brings in higher resale values than darker non-descript colors. Red sells better than Pepper White and so on.


Actually, that's not entirely true. Edmunds LOWERED the value of my EB/W by $35 because of the color! What's THAT all about?

 

Your selling price of a used MINI will depend on your local market conditions. Prices are quite a bit higher in big urban areas with good weather such as california cities. Probably lower in rural areas or areas with lots of other less expensive imports.

You might get higher selling prices if you keep your MINI clean inside and out, don't smoke and if the tires and brakes are in good condition. Most times the performance mods don't really add much to the price, some of the appearance mods do help sell the car.

Good luck in getting a newer MINI with 5 speed getrag transmission. I think the appearance might be a little different though so be prepared. I like the look of the older 2002-2003 MINIs just fine.

 

>>OK, just did the Edmunds one. They added $20 because my car is red.

...which is a fraction of a single speeding ticket!

That's why I prefer going stealth.

 

I was happily surprised when I was thinking of trading my 02 cooper s with 25k miles and was offered 19k in trade. I paid 20k for it when it had 15k miles on it. I changed my mind, by the time i'm ready to sell, the car will have tons of miles and be worthless.

 

Just for kicks, I called about my 2004 MCS (w only 50mi thus far), to
three dealers in the Detroit, MI area. I have EB/White, Lapis Leather
w/Anthracite,
Premium package, sport-a-la carte (16" wheels), Cold, HK, rear-fogs,
mini alarm, floor mats and boot net. The tab (before taxes) was $25,400-
the quotes for a trade-in were $24,800, $23,000 (wtf?) and $24,900.

So the way I figure it, I could get close to what I paid for it private
party :smile: Always comforting to know that when I drove it off the lot
(worst case, absolute worst case), I wouldn't loose my shirt selling it!

 

I find the best way to see what current market value for pretty much everything is to visit ebay's completed item searches. This usually yields the best nationwide prices. Autotrader will only give you local prices.