I have an '03 MCS with sport, cold weather, and premium packages, 10,600 miles, chili red with white, no dings or scratches. A dealer is offering to buy my car for $19,500 (I have an ad, so this is for a straight sale, not a trade). Is this a good offer?

 

No it's not, but I don't know your situation. If you need $$$ fast, you may have to do what you need to do. If you don't need $$$ right away, sell it your self. You'll get thousands more. Go to http://www.edmunds.com and see what the private party and dealer "True Market Values" are...this will give you a good idea of what you should get for your car.

 

I was curious so I checked for you...Edmunds said that in my area (Portland, OR) the private party value of your car is $23,988 and dealer retail is $26,903. $19,500 is a bad offer.

 

Sounds like the dealer wants to make a quick profit. If you really want to sell, privately is the best way, since the wait on the car is sort of long, people will pay to have one now.

 

If it was IB/White I'd buy it in a heartbeat and take you to dinner.

 

>>If it was IB/White I'd buy it in a heartbeat and take you to dinner.


hear hear, I second that.

On topic:: I'm selling my VW now, to fund the MINI purchase, and every single offer I received from a dealer has been thousands less than the worst private party offer. Unless you really can't stand the hassle of private party sales, there is no reason to work with a dealer. You'll never get the same amount.

 

Thanks for all the input, folks. No urgency to sell, but since I had some ad time left in a local publication for a motorcycle I sold, I figured I'd try and see what the market would bear for my MCS. My price is $22,500 (but I paid msrp of $22,775 + tax brand new for it 12/02) so I wasn't sure if my price was reasonable or not. If I was really serious, I have a friend who owns a dealership and he could post it for me and anyone who uses autotrader.com would find it.

 

I'm not sure I get it. I checked Edmunds on my own car and it came out over 3k more for Dealer Retail than I paid for the car. How can that be? Seems to me that would make my car more expensive than full sticker for a new 2004? Even private party is more than I paid for my MCS a year ago? I've never owned a car that I didn't loose thousands on the second I drove it off the lot. Is this accurate?

 

keep in mind that on a trade in if the dealer offers you 19,500

and the new car you want is 24,500

you will only pay taxes on 5,000. which is a savings in this model of $1170 in taxes

making the 19.5 dealer offer sort of like... $20,670

still below edmunds, but 20,670 is getting up there...

I realize this is not a trade-in for you, but just an FYI for those that don't know

 

>>I'm not sure I get it. I checked Edmunds on my own car and it came out over 3k more for Dealer Retail than I paid for the car. How can that be? Seems to me that would make my car more expensive than full sticker for a new 2004? Even private party is more than I paid for my MCS a year ago? I've never owned a car that I didn't loose thousands on the second I drove it off the lot. Is this accurate?



well kinda i know of someone who will remain nameless who totaled their mini with almost 9,000 on the odometer and the insurance company had to give him the total amount that the car was worth with miles he thought he would loose money but ended up getting a thousand over stickerbasically the car jumps to 117% over sticker as soon as you drive it of the lot kinda funny!!!

i bought mine a year and a half ago and it camr to 25680 dollers that includes driving lamps bonnet strips from dealer and the lojack and mats

when i came home with the car i had a couple of people offer 29,000 for the car even with 2,000 miles on it

its rather amazing, its also amazing i didnt take the offer, but in the end im so glad i didnt, this mini has been a blessing!!!!!

 

I know it's crazy, but because of the waiting list, the cars have increased in value. Once the waiting list is gone, I'm sure the values will correct themselves. The good thing is that MINI is already producing at full capacity, and now they need to share that space with the convertible. That means sustained values for a while :smile:

 

>>keep in mind that on a trade in if the dealer offers you 19,500
>>and the new car you want is 24,500
>>you will only pay taxes on 5,000. which is a savings in this model of $1170 in taxes

Is that fact or conjecture? You only pay tax on the net price?? So if I trade in a $30K 325 on a $25K mini I pay no sales tax? Doesn't sound right. Can anyone confirm?

 

>>>>keep in mind that on a trade in if the dealer offers you 19,500
>>>>and the new car you want is 24,500
>>>>you will only pay taxes on 5,000. which is a savings in this model of $1170 in taxes
>>
>>Is that fact or conjecture? You only pay tax on the net price?? So if I trade in a $30K 325 on a $25K mini I pay no sales tax? Doesn't sound right. Can anyone confirm?

That is correct, one thing to take into account in a dealer trade in is the tax issue. You will only pay tax on the difference! However, the dealers know that and use that to argue for lesser trade in value. But you do have real tax savings there!!!

 

>>>>keep in mind that on a trade in if the dealer offers you 19,500
>>>>and the new car you want is 24,500
>>>>you will only pay taxes on 5,000. which is a savings in this model of $1170 in taxes
>>
>>Is that fact or conjecture? You only pay tax on the net price?? So if I trade in a $30K 325 on a $25K mini I pay no sales tax? Doesn't sound right. Can anyone confirm?
In California you will pay sales tax on the 30k purchase and then the trade-in is deducted. The State you are in may have different tax rules.

 

"keep in mind that on a trade in if the dealer offers you 19,500
and the new car you want is 24,500
you will only pay taxes on 5,000. which is a savings in this model of $1170 in taxes"

That might be true in your state but it's certainly not in mine!

Your taxes may vary...