Wow, MrGoodFortune, your calculations on what it costs to "win" this car is mind-boggling! I guess you can't get anything for free. However, if you look at it this way, $7,100 isn't a bad price for a new MINI.

 

Another angle contact the dealer that supplied it and find out if they want to purchase it, as it is untitled it can be sold to someone else as NEW. Just a thought

 

The dealer required I take title to the car and it is registered and tagged. The title is on the way....

 

Sell the winning raffle ticket to someone who wants the car and then they are the winner of the raffle, not you. Of course you will need to decide what the cost of the ticket is, my guess would be around $15,000.00.

 

But it won't work.

Once you win, IRS rules kick in making the winner responsible for the taxes etc. You cannot transfer your obligation.

 

You're not going to get full MSRP for your car. It may be brand new, but it's VERY lightly optioned, much less than the typical buyer would want if they were ordering it. Secondly, you're not a dealer, so even though the warranty/maintenance is transferred, they still have to go through establishing a relationship with their dealer who may be less than excited that they got it somewhere else. If it's going to cost you about $7100 as you say, why not offer if up for something like $15,000? Seven grand off a new car may make someone perk up and look over its lack of options, and you still come out with plenty of money for your vacation.

 

Good points, but the value of this car is more than $15,000...

My advice is to call a few dealers and see what they will buy this car for. Try a few close MINI dealers, and also some independents that sell European cars and get a feel for what they offer you.

 

My thoughts exactly. I'd discount the price, but $7000 off is way too much. In my opinion at least... Especially given that used MINI's hold their value so well.

I'd do as sarafil said and call a few dealers. Also check around online (MINI dealers in your area as well as autotrader.com) to see what similarly optioned (or the lack there of) R52's are going for. Finally, get the blue book value of it. Yes it's brand new and it's a MINI, but even we have to deal with the fact that cars are instantly depreciating assets.

Best of luck! After the win, it's clearly not something your exactly lacking.

 

If you want it done quick and easy, you could try CarMax and see how much they would offer. I sold a Honda Civic to them some years back and was pleasantly surprised how much they gave me.

Hondas hold their values well, like MINIs. Might be worth it.

 

+1 to that. Although it seems most (MINI owners at least) either get an awesome or horrible value from them - no in between. Regardless it's worth a try!

 

Buy a new car now and trade the Mini and possibly your(wifes) car in. You will save sales taxes on the purchase of a new vehicle, at least in Ohio you would. You will owe very little or nothing on the new car. Now you will not have a car payment and can still afford the vacation that you spoke of.

 

this does not eliminate the fact that he has to pay the taxes on the car though... you can only get a "sales tax credit" on a trade in if you've actually paid sales tax on the car. plus, this only works if he wants to buy a new car.

 

I understand, that is why I said "Sales tax" in my post. He obviously doesn't want the Mini, so what is the best option? Privately sell the car? maybe. But he will lose the $1500(approx.) in sales tax, although he may get more with a private sale than trading in the vehicle, which will make-up for the sales tax. Not knowing how old the vehicles that he owns are, I thought this was just another viable option to consider in addtion to selling to a mini dealer or a private sale. Three options are better than two.

 

I agree with you... an extra option to consider is always a good thing.

I just wanted to make sure that it was clear to everyone that trading the car in does not eliminate his responsibility to pay sales tax on the car (since there was alot mentioned in the prior posts about finding ways to not have to pay sales tax). He would have to get a pretty good trade value, high enough where his trade value plus the tax credit is comparable to what he could get in a private sale.

I did go back and re-read the first few posts and I now see that he says an SUV is more appropriate for his use. As long as he can get a realistic trade value, I think he probably could be better off to just trade this car in for an SUV.

 

The lil red MINI has found a home. The final sale price was $21,000 and I would like to thank all of the members here for their advice and information.

 

Congrats!!! Really glad to hear you got a great price.

 

The lil red MINI has found a home. The final sale price was $21,000 and I would like to thank all of the members here for their advice and information.