Tried seach but didn't find much so I'll ask...

...As much as it pains me to to this but my 2003 MCS may go up for sale. Its for good reason, I may be moving to Italy (hello MINI one D?). So where is a good place to find retail prices for used MINIs? I tried Edmunds and Kelly and got some pretty high values. For Example Edmunds gave my car tis TMV (true market value rating):

2003 MCS, Indi Blue/Black, Cold pkg, premium pkg, lapis leather, DSC, Fog lights. 11,000 miles

I was amazed to see a TMV of about $21,500. MSRP new was about $24k...I know MINIs have great resale, and mine is very low miles...but come on, that seems high! What do you guys think?

 

Talk to a few used car sales manager at local VW/Honda/Subaru dealers and see what they will take the car off your hands for. Go up from there for a private party sale. You might be suprised at the numbers the car dealers offer.

 

Sadly, the days of selling a used MINI for the same as a new one are over (or nearly over).

However, they are still holding good resale value compared to most cars out there. I bet you'd sell it really quickly for 18-19k

I have noticed that the vast majority of MINI's for sale on ebay are not reaching their overinflated reserve prices. You might want to take a look at completed auctions and base your asking price on the high bids received for similar cars. That would give you a good idea of what the market is out there.

 

Back in early February, I sold my 2004 MCS (No packages, no sunroof, 16' wheels, leatherette, halogens, ASC+T, Bone stock, no mods) with 17K miles for $21,900 or $700 ABOVE original MSRP window sticker. So, after 16 months of ownership, I made money on the car during the private party sale.

I put an ad in ww.cars.com (Got the $50 ad package with 12 photos and runs until it sells) and sold the car just 6 days after placing the online ad. The people that bought the car from me, saw the photos in the ad (Lots of photos move the metal!) fell in love with the car and offered me hard cold CA$H for the car. They didn't even test drove it, just handed me the money, did the title transfer and went thier merry way!

My advice: MINI used retail values are all over the map and therefore, some of the "Used car calculators" are by no means accurate. You can use them to give yourself a very vague idea of what your car might be selling for in your particular region and market, but the bottom line is this: You need to find a buyer willing to pay top dollar for your car and also a buyer that doesn't care/want to wait for a new MINI ordered from the factory or buy off the dealer's lot.

Those buyers are hard to find but they do exist. Keep your car in tip-top shape and make sure you have all maintenance records in a neat folder. Buyers LOVE to see that folder in your hands, even if they don't get to look at the actual service receipts. Another strong selling point is the fully transferable (And free or charge for the transfer to a second owner) balance of the factory warranty.

Good luck and let me know if you have any other questions.

 

If you find a desperate buyer that wants a MINI now and doesn't care whether it is used or new, he or she will pay you top dollar for the car. Those buyers are hard to find but they do exist. Just 2 Months ago I sold my '04 MCS for more than new MSRP to such type of buyer.

 

Also do a search in www.carmax.com for their inventory of used MINIs. Those people are selling used MINIs for close and in most cases above original MSRP prices...oh yeah and they do sell them and they go fast!

I had Carmax "Appraise" my 2004 MCS back in January and they offered me $18,500 on the spot. Their offer matched the trade-in my dealer was willing to give me for my pristine car. But guess what, carmax, if they had taken my MCS, they would have turned it around and resell it in their lot for at least $23,000 "NO HAGGLE" price! That would be $2K above original MSRP price when new.

So instead of putting $5K on the pockets of the Carmax crooks, I sold the car myself and made just as much and put the extra cash in my pocket

Those guys at Carmax were SALIVATING over my 2004 MCS. The sales manager and 2 used car apparaisers kept going out to the parking lot and they knew they were getting an excellent car with an insane margin profit. they almost fainted when I refused to accept their lowball offer.

 

I have my loaded 02 MCS w/Nav with only 25K miles up for sale on cars.com, for 21,999. No bites at all ... The price is below KBB too.

 

KBB prices are crap. No one respects them. Like I said, is what the local market is willing to bear and the desperation level of used MINI buyers what drives retail prices up or down.

 

Agreed. For example, it pisses me off to no end, that my GMC Envoy which is in immaculate condition is worth less than what I owe on it. Then again, I kinda knew it would depreciate rapidly.

Re: the MINI, I'm simply surprised that I haven't even gotten a single call/email about it. Knauz MINI offered me 17K for it. I only owe 13K on it, so I'd still come out on top if I traded it in.

 

I know this may sound trite, but your Mini is worth what someone is willing to pay you for it. But they likely won't pay more than what they can get a new one for. So, consider listing it for slightly less than new. See what happens. You can easily go down in price but it's tough to go up.

ripley

 

Its not trite at all, I asked the questions mainly because selling my car never really crossed my mind, until this opportuity to move abroad came up and I started looking at KBB and Edmunds and was shocked at the high price....Hey if I can sell my car for 21,500 I'll be very happy Now I just need to figure out what wheels I want to drive in Italy (there are so many MINIs on the streets over there)....lots of cool choices for small fun cars over there. I could not afford the fuel bill for a MCS over there!

 

I hear ya, but a similiary equipped MCS, with Premium, Sport and Nav, is pushing 26K (Sorry, not gonna be into the configurator and get an actual price )


But here is where the MINI's great resale value bites you in the ***. Who's gonna spend that, when for 5K more you can get a spanking new '05

 

Search completed auctions on eBay and only pay attention to the ones that actually sold.

 

19k - 40k miles

http://cgi.ebay.com/ebaymotors/ws/eB...category=31861

20k - 30k miles

http://cgi.ebay.com/ebaymotors/ws/eB...category=31861

Lots of unsold ones. I don't know why these sold and others didn't.

A lot depends on the supply and demand of your region. Here, the wait is still long and people have to pay a markup to order it immediately. That is reflected in the local used prices.

 

Also certain colors and factory options determine whether the cars sell quickly or not in some regions...

 

I'd really be interested in knowing what regional differences there are in MINI resale; or in new car orders for that matter. I don't mean cash value, I mean colors, trim, options, etc. Anyway to determine that? Most listings for auctions, both virtual and pavement, just give a summary and selling or asking price. I do think it might be of interest.

 

I live in Naples Italy and use my MCS 05 as a daily commuter. The gasoline is the proper grade and the size of the car is just right. Believe me you want the power of the Mini when trying to manuever with the crazy driving over here.

 

I think you should keep it and ship it
It's pretty cheap to do, and you won't have to buy another new car in Italy (where prices are higher anyway).
Also, if you still making payments on it, with the Dollar being so low, it will be even easier.

 

Daily driving in Naples !!!
Man! you must be the best city driver by now !

 

Daily driving here is fun but scary at times. Naples being the worst area in Italy to drive in. Elsewhere they aren't quite so crazy.

The great thing about Italy is they rarely enforce the speed limits on the autostrade so you can really enjoy the stability of the Mini at higher than U.S. speeds.

 

I know, I miss it...
Last year, during my vacation in Italy, I hit 100 mph with my rental Fiat Punto ...I sure wished I had my MINI do see what it REALLY could do...

 

Its not a bad idea, but I'm going for a 2 year assignment and I'll have a new car lease paid for while I'm there so why bring my car when I can lease a new one on somemone elses nickel?

Personally I love driving in Italy, except for Milan at rush-hour

 

[/QUOTE] A lot depends on the supply and demand of your region. Here, the wait is still long and people have to pay a markup to order it immediately. That is reflected in the local used prices.[/QUOTE]
Agree!
Here in the "Great Northeast", Minis are really just starting to catch on, at least in my neck of the woods...

A used 02 with ~30K miles was going for ~$20K.

And they really do not seem to stay for sale long.

===============Now for another thought================
If what another here said that "Sadly, the days of selling a used MINI for the same as a new one are over (or nearly over)".

-Does that mean that in regards buying one we should be able to start working the price down from the sticker?

-kutch

 

I'd say that is definitely the case. I remember drooling over your car when it was up for sale - because your old car is rare. From what I've seen during the last 2 years looking at cars here, on Ebay and other sites, a "stripper" MCS w/o a sunroof will retain it's value better than a "3-package" car.