Thinking about possibly trading my beloved r53 for a BMW 1 series, just curious what you guys have been getting for trade in?
I'm looking to trade out of state so I won't be able to show them the car prior, so they will give me a low end trade most likely since it will be sight unseen.
If you can post:
Year of r53
Mileage
Estimated condition
Your trade in value

 

MINI dealer offered me 2k for my trade, apparently that's the auction quote. Ouchhhh, I think I'll try somewhere else

 

Maybe Carmax?

 

The short answer is "bent over" it's an old car that will be sent straight to auction.

 

I think 2K is the cap for dealerships just to earn your business. I see you have an 05.... so it's 10 years old. I feel that you should get way more than their offer. I see a lot of late 1st Gen go as high as 8K!

Keep trying to get the best offer out there.

Had a 97 Miata with 220K (all OEM except Panasport wheels) and got 2K for it in 2013... so there is hope.

 

how many miles, condition ?

 

I thought it was quite low, especially since it was going towards a brand new CooperS. The sales person said since its for a brand new car he could $500 off the new car... I was at least hoping for 3-4k for trade that seems reasonable to me. I think I'll have better luck at a smaller dealership.

 

If anyone starts offering 3-4k trade in values you will need to take a hard look at all the numbers, because chances are you're getting back-doored.

This may sound 1/10th Dave Ramsey, but why not buy the car you want and just sell the MINI after the new car has been delievered?

I will never trade a car in, dealers are in business to make money and I'm not leaving any extra on the table.

 

Reality is the MINI's have gotten terrible press lately....
Mostly as the WORST USED CAR YOU CAN BUY...gen1 cars they (the dealers)just know a Cvt Is an issus, 5 spped is an issue, cooper s auto is an issue...you might love your car, and know its a good one....but the dealer has to convince a buyer that....or they just know mini engines blow up and have carbon issues....and lump all mini's in one group...they do look the same as far they are concerned...
So dealers don't want to get stuck.....
Most will auction it off to a 2nd or 3rd tier used car lot....
My 2005 s, xenon's, with a sunroof, cloth interior, 95,000 miles and an $800 accident...rear bumper cover and inset 2 years ago, got me $4000.....overall, very good, might have have been excellent except for a throwout bearing rattle(they didn't notice) and needing tires...
Remember the final number combined with the new car is what counts...
I had used Truecar for the new car, THEN got ANOTHER $500 off...so I was beyond the bottom of their price chart...so there was zero room to inflate new car to give me extra on the trade...would have been maybe another $500-1000 with no accident, as the dealer said, it will be announced, and the price will be about $750 less.
Remember...gen1 cars are 10 years old...so condition rules...
Best option if it is a good car, private sale...but just did not want to deal with it...

 

No dealer is going to give close to retail on a trade for a 10 yr old car. It is not really a car they want. Not even MINI wants a R53 on the lot. Not because they think badly of it but because of age.

Many banks won't make a loan for a car of that age so the next buyer needs to be paying cash.

While not the same case, I had an 05 CVT cooper that I sold on my own. It was forever getting someone to buy it. I sold it for under book to let it go. The CVT tarnished a good car. I never had problems with mine, but a knowledgable buyer will more than likely walk away from that.

On the plus side, you have an R53. Depending on your mileage and options etc, you may sell it quickly for more money on your own.

 

127k needs a oil pan gasket and back brakes, leaky steering lines. Couple small dings and some rock chips on the hood. Otherwise good to go. Honestly I don't really wanna get rid of it bad enough to sell it on my own, was hoping for a hassle free trade.

 

It would be hassle free if you don't mind taking a beating on it.. KBB claims it to worth more as a trade in but not always accurate of course. Plus as you said the dealer is giving you that quote over the phone sight unseen.. So they are looking at it as a throw away car, kinda like the days of dealers advertising the "push, pull, or tow" trade in days. Didn't matter what it was it got $2000 trade in value.. If you were doing it in person you'd probably get more..

 

Well the dealer has worked on my car many times recently so they told me not to bring it in, they go solely off of auction price averages. I think kbb says around 3500-4000 nada guides gives a little more, I suppose that's where I set my expectations.

 

Wanted to trade my 98 BMW to VW dealer, offered me $2500, I took it to a used car guy with a reputation among BMW owners and he gave me $5000. It pays to shop.

 

Recently, I was offered $6,000 for a 2006 S cabrio with 130k km, told them it needed tires. This was for a trade on a WAY over priced 328. Verts are worth more in the spring.

 

I would have thought there was more mark up in the BMW to be able to give you more for your car..

 

The last few months have been BRUTAL in news articles about mini's being poor choices as used cars....all the gen2 issues are dragging down values of all MINI Cars....if you follow prices, mini used car values have fallen off a clif in the past 2 years....
Mini once was among the BEST in holding value....now it is getting to be among the worst fast.
Seriously, I would have gotten 2x what I sold my car for about 2 years ago...had an offer, but was not ready to sell....

 

I buy and sell cars often kinda as hobby 5 a year ,I drive them fix what needs to be fixed so the next person buying the car gets an honest evaluation of the car instead of buying out of a car lot with the answers from the cheesey sales guy of not sure or I don't know and we just got this in so I don't have any history , ,as you see from my post counts I am new to the forum and new to the car, I bought my 04 cooper s 6 speed with 93000,00 miles and didn't know anything about the car and or its issues , It was near difficult to find anything lower the 160k that wasn't used up,, I probably over paid for my car and it had the original clutch in it, but the motor was solid and uses very little oil,trans shifts perfect ,,the point is if you do the repairs mechanically so that it is good for the potential buyer ,you will have all of the history of the car plus the repairs you did to explain to the buyer, this goes along way ,most people who are shopping cars know what they want and what to look for and wont mind paying extra knowing that major stuff was just recently serviced(clutch,rear main seal,supercharger, tires,front end ect), any leaks under the car , tires that are low ,noisy bearings and suspension will turn away buyers, most buyers will over look the small stuff interior dodads that don't work,minor stuff ,paint wear and tear, ,, pull your car fax and just have answers for the issues ,,not all cars are squeaky clean car faxes ,they also can be wrong as well
just because book value isn't high doesn't mean you take a beating ,, private sellers are asking higher prices than book value and they are getting them ,, sell it your self , you be taking a beating if you don't ,, and if you do trade it and get more than what you might expect more than likely the offset is there jacking the sale of the new car up ,,, just to add every used car lot (at least here in the north east) has 3 or 4 bmw's ,Volkswagens, the market is flooded with those cars and that drives down market value for those cars,

 

just to add I think all used car sales are down, there is a ton of vehicles for sale ,,pull up a craigs list for your area,, there are hundreds of cars andtrucks listed daily ,, every make and model car has their issues and seam to get bad press ,, markets flooded with cars and trucks

 

Going to take it to a small dealer tomorrow with a car I'm interested in, I'll see what they offer and based on that I'll decide what I want to do. The small dealer will most likely sell it off instead of auction it, could mean a better deal.

 

Good thought....
My recent buying experience...used cars seem $$$ in comparison to interest rates...in looking at a few 2-3 year old cars, the $$ being offered, when combined with higher inital i(you can get 1.75% from a bank for 60 months new or about 3-6% for used) interest rates, and no warrenty, makes used cars a harder sell till the sub $5000 range...

 

I was offered 4500 today, much better.

 

I was thinking of trading my 2006 MCS that i just bought 2 mos. ago. It has 35k miles and we had to replace the entire clutch (including flywheel), engine mounts, ball joints and various other parts. Not to mention, when I first bought it, i had custom rally stripes and the windows tinted. I was thinking to trade it for a 2013 JCW hardtop with 13k miles. They are asking 25k and giving me 9k for mine. I think it is an okay deal considering I made it sight unseen. Just waiting for the Buyer's Order as they are out of state and I am financing through my bank. My '06 just started making some clunking noise from first to second gear when you get on it---no idea what that is. Maybe it is time to dump it before it turns into a complete money pit.

I am going to post a new thread asking if anyone knows about the clunking sound...maybe an easy fix??

Sent from my iPhone using NAMotoring

 

could just be a loose mount or worn mount, a car with a warranty is nice though.