everyone here is saying that Edmunds is not accurate, but when you trade in the MINI, are you guys getting the full KBB trade in prices?

 

Nope. No dealer will ever give you full retail, whether it is a MINI, Lambo or Rolls Royce. See, trade in is an EXPENSIVE CONVENIENCE. You don't want the "hassle" of selling your own car? No problem! We'll make it as painless and easy but you are going to pay $3K-$4K so we can take it off your hands! There are very exceptional instances, where trading in makes sense vs selling the car yourself. Let me put to you another way.... Do you make $4,000 per minute? If the answer is NO, then clean your car, get it spiffed up, get all service records, go to either autotrader, Cars.com, etc, take some nice photos and sell the car yourself.. Don't put your hard earn money back into the dealer's pockets! Do you know where dealers make most of their profit? In the purchase (trade ins) and sales of used cars. New car sales command very little profit in comparison to used cars. Any dealer worth their salt works this way. I sold a 2002 MC with 44K miles a few weeks ago. Had I traded that car, I would have lost anywhere near $2K to $2.5K for the convenience! I sold it not only to a fellow NAM member, but to someone that I now consider to be a good friend as well and another MINI Maniac! Selling the car yourself may seem like a hassle, and sometimes it is, but to me the ability to sell your car for what is really worth more than makes up for the time and energy invested in doing so.

 

Dealers will charge buyers KBB values, but no dealer is going to use kbb for trade-in value -- expect them to use Galves.

 

Galves.com is believed to be the most accurate gauge of online trade-in values. You have to pay to get the information though.

 

After reading this thread yesterday, I went to kbb and edmunds and got estimates on my car on each.
Kbb told me my 03 MCS with 50400 miles was worth about $15-16k
Edmunds told me about $10-11k. Identical specs, and no more than 15 minutes apart.

 

yep, people claim MINIs hold their value . . . but look at yours: a depreciation of 33% in 15 minutes!!

I have no faith in kbb. When I was considering purchase of the MINI I now have, I looked at kbb, which said the car (14 months old and with 12k miles) was worth $1000 less than MSRP! Really? You think people are paying almost MSRP for a 14-month-old car with 12k miles on it in private party sales? Needless to say, I threw that number out the window and paid alsomt $6k below kbb. Which is why when someone quotes kbb in their FS ad, I do one of these:
It is nice to know that if my car gets totalled, the insurance company will consider kbb - so I'm not complaining.

 

KBB makes for good entertaining reading.... that's about it. The truth is... used car values are just that...opinions. If you find someone willing to find 110% above MSRP for your MINI, you'll find that person (I did 3 years ago, probably next to impossible today). The worth of an used car correlates to many factors.. Market demand/supply, desirability, etc But it is still very closely tied to a person(s) opinion. This is why used cars values can not be set in stone. You can put a price (MSRP) on a new car. But in an used vehicle, the waters get a lot murkier.

 

I just purchased mine about 6 months ago with a lot of aftermarket mods on it (see gallery) and I paid (happily) 16,500 for it.

 

visited a dealership today, and they offered me $13900 for a 03 cooper s w/ premium package/ 58xxx miles on the clock... is that ok?

 

hello everyone new to the forum i just bought a 2006 MCS with 41K for 15,5K I could not drive the car home as it had the infamous EML issue but its getting fixed is that a good deal?

 

you overpaid by a few thou. look at what I got for the 1K more.

 

all you have to do is look at what it is worth and remember that the dealership buys cars 2K back of book, maybe, they will go as high as 1500 back of book. its hard to say if you got a good deal, you didnt tell us anything about the car

 

Please excuse my ignorance being a new mini owner and new to this forum the car is MCS 2006 with 41,000 miles, 6 speed, cold weather package. I have contacted the dealer this morning to tell them that I dont want the car seeing its in the shop hopefully they will let me get out of this contract.

 

You guys must all be lucky then. I've had my car for sale for more than six months and haven't even had a single offer or person asking a question. It's on several forums and been on autotrader for 5 weeks. 04 MCS with 34,000 miles and few mods. It's listed at 20 right now, which I know is high but I've got to start somewhere, though I would never sell for anything less than 18k.

 

Good luck with that. once you sign they don't care about if you want the car or if it even gets reposesed. they made a number for the month.
sad, but true. its in the shop, so they are fixing the problem. the most you can do is hope it isnt a lemon.

 

Good news the contract has been cancelled so I will start my search again but now having seen this forum I know what the going rates are, however being from Illinois it seems these car prices are pretty high. Any suggetions on how you got such a great deal?

Thanks for all your help.

 

What are you looking to spend? I've got an 04 MCS that I would really like to move. Only 35,000 miles, a few mods and in MI.

 

I have no idea based on my little knowledge I thought a 06 MCS with 41K for 16K was a good deal but i was told that is too much... so based on that I have been reading, reading, reading, here...

 

That doesn't sound to crazy to me. I'd hope to get more than that for mine for sure. At least 18.

 

there is a 04 JCW here in illinois for 21,5K is that a good price?