Anyone have any ideas on the real world value of 04 MC 18K miles (everything but cold weather), either trade in or just resale? KBB says trade in is 16-17 grand, so guessing resale could be more. The factory warranty is up next year so I thought maybe just trade up before that time, anyone done that lately? Thanks!

 

KBB also will show the private seller value. It is usually a couple thousand more.

 

Has anyone inquired about trading in their 2005 MC lately, if so what sort price where you offered. I got super lowballed at 15 grand, my MC is 2005 pure silver with 16,700 miles. (has everything but cold weather/navigation).
KBB is saying much more for trade, anyone trade up lately to a 2007?
thanks!

 

KBB is not the book dealers use! They use a book from NADA. You will NEVER get a good price trading in a MINI. You need to sell it outright to get a fair price. We recently bought Hendrix and price was thousands under KBB. Price has a lot to do with where you are located as well as the condition of the MINI.

 

KBB is notorious about overestimating. You will get a closer estimate on nadaguides.com but even that number will likely still be a little bit high. However, it's much closer than KBB.

 

One is almost always better off selling outright rather than trading. My belief is that the real prices of 02-06 Mini's have declined as a product of the R56 and increased numbers. There seems to be many used Mini's languishing on dealer's lots these days. Check ebay Mini's under completed auctions. Few make it and the one's that do are usually "no reserve." I have been watching prices for a while as I sort out my Mini purchase plans. Two examples that I am pondering: 04 Mini-leather, cruise, DSC. 31k miles. no roof, no heated seats. asking price 15,350. One of the sales people told me bottom is $13500. Another refuted that price. All of this is over tele. So real price is in between somewhere. This is at a "high line" mostly euro used car dealership.

i have also spoken to a Mini dealer regarding an 06 Mini with 6k miles--certified to 100k miles this one has sport cloth/leather (red) sport pkg, cold weather, roof. 19,900.

both cars Chili Red

 

The reason for the good price perhaps.

 

as a data point....

I recently bought a '04MC 40k miles, leather seats, no cold weather, no DSC, and no roof (I wanted it light for auto-x). I paid $13,667, but that was through a car buyer I know at auction (plus fees, and some $$ for him). My estimate was that I got it for a good $1k below reasonable market price. I found similar goign more around $15ks

 

2004 update--I went for a test drive today..Chili red/white top no sunroof. Leather sport seats with "knobbs" silent k in the middle section of the seat, DSC, OBC/cruise. 32k miles. Very clean and the runflats have been ditched for real tires. It is mine for $14300. I have until Monday am to decide.
Here are the averages for NADA, KBB, and Edmunds

trade private sale retail
151400 17150 18333

Soooo. I think that this is a good deal for me. I wanted DSC, like red, wanted leather and heated seats (I can retrofit), I do not care about sunroof, and I am glad the runflats are gone.

 

Dealers use the "The Black Book". It's a price based on what the car would be able to get at a dealer auction. The price from the black book is thousands less than the KBB so you're much better off selling it at a private party. I would say check KBB Private Party Value and set your bare minimum accordingly. (1-2,000 below)

 

MINI resale has definitely tapered off in the bay area. Lot's of MINI's for sale, including mine, and not many people looking.

Not sure if the new model is hurting this or not. A CL check will show you probably 100 or more cars for sale in this area. We have ours priced pretty aggresively and not many people have come a knockin'.

We looked at trading in and were offered about $1k less than we wanted, which was pretty good. We decided to stick it out and either enjoy another $1K out of the car or wait for a better offer.....

 

Exactly.

Insurance companies typically do not us KBB either, as it's known to be generally high and most usually, inaccurate. NADA is very accurate and the best source.

 

price sounds about right. They are probably making $1k to $1.5k unless they got a steal on it.
I bought mine at auction with my buyer who tells me all the black book numbers.
I will give my actuall numbers.


Auction price: $12,600
Auction Fee: $300
Buyer Fee: $700 (as a favor, this is lower than average)

Cost before taxes, etc came out to $13,600.

 

Great info from everyone, thanks. So for sure what you are saying my 2005 MC with DSC and all the goodies and only 16K miles should fetch more than the 15k my dealer is offering....I sort of think its worth 17-18k, but of course need to find a buyer who agrees. I might just end up keeping it for awhile since it has such low miles. Also just put on 4 new non-runflats today, OMG is the MC fun now, runflats suck! (review in wheels/tire section)

 

NADA, KBB, and Edmunds are all guestimates for consumers. Insurance companies may use them but dealers do not use them for evaluating trades. They will use the "Black" book or Galves to determine how much like cars are going for at auction. they are not going to give you more than what they would pay at auction.

 

I bought an electric blue white top and mirrors 05 S with 16K miles in August for 18k. Very clean car w/o sunroof and no HK stereo and nav. Has all other options.

 

Has anyone ever dealt with Carmax? I wonder how their offers stand compared to other dealers, if you just want to sell your car?

 

somewhere between tradin and private party.