Lots of info here but not all true.

You can throw out Kbb, Edmunds, NADA etc. they mean SQUAT to the appraisers. I just went through this, took the car to independent appraisers ...

First, when you say "perfect", it had better mean "perfect". Not a single scratch, door ding inside or out.

Second, appraiser dont use any of that crap. They go by the latest wholesale auction trades in your area for similar cars. That might mean different prices for different markets.

Third, the original cost dont mean squat either nor the mileage (unless its extremely high or extremely low). ALL that matters is what the dealer thinks he can sell it for at auction or on a lot.

Welcome to reality Sorry, but sometimes reality sucks.

 

When I went to buy my MINI, the dealer offered me less than $2k for my trade in (a '97 Nissan Altima in great condition)... All of the estimate sites suggested $3.5k to $4k as a reasonable price. The dealership just didn't want an older car on the lot. They did, however, agree to flip the car for me should I find my own buyer.

The buyer and I negotiated a price ($3.75k), the dealership bought the car from me for that price (so I got the sales tax benefit) and then sold it to the new owner for the same price.

The dealership handled all of the paperwork for the buyer and made his life a bit easier in the process (except he didn't bring proof of insurance, which I told him to do, so he had to spend 30 minutes on the phone w/ his insurance company getting it faxed over). They tried to charge the buyer a $75 doc fee, but I had an email from them stating 'no additional dealer charged fees' so they backed off of that one pretty quick.

It gave both of us peace of mind to know that the entire transaction was above board. I think they let him put $2k of the purchase on his credit card so he could get the free airline miles too.

 

I guess what I wanted to discover here is what DID a base 2003 really sell for new, was the dealer pulling my leg or was it only 14k? I know what new cars were selling for and I know what kind of deal I got on mine when I bought it. I also ran the car on each of the sites for value before making my offer to the dealer I bought it from. It is all a part of getting an education.

As I stated, I am contemplating selling my cooper and getting another one. I do not jump into things quickly and so I looked at one of my options which was a trade in. I am immediately suspicious of most dealers because the fact is, there is $$ involved and their job is to make as much as possible. I have never traded in a vehicle but it is always something I consider before selling a car. When this dealer tried to tell me that it was only worth 14k new I felt immediate distrust and disillusionment. Not disillusioned with the cooper but with the dealer and his tactics.

So, did anyone here pay 14k for a new 2003 base cooper?

PS- the car is technically 4 years old now, not 3 so the mileage is pretty good.

 

Used car prices are just "Opinions".

You have an early build 2003, built possibly around September-October 2002, so yes the car is 4 years old. Remember that you no longer have much (if any) warranty left on it.

I say that if you find a new buyer willing to shell out $13K-$14K for your '03 MC, don't think twice and hand over the keys.

Reember that after all is said and done, you are still getting back 55%-63% off the original MSRP sticker price.

Try that with your garden variety GM, Ford or DCX product.

 

Is this price from a BMW dealer?
The thing is, at 51K you are out of warranty on BMW ... and we all know what things cost if a Beemer needs repair ... now if its from a BMW dealer (whcih I doubt) with some exra warranty ... then its a deal.

 

Hey, do you have any South Florida connections?

Yes, the real estate bubble already bursted here and the trail of unsold condo units and other plethora of problems are mind boggling. Long gone are the days of "free" lavish parties sponsored by the developers of these high rise buildings to attract "noveau Riche" customers and foreigners with lots of cash.

Very few people in Miami, can afford to live in these "luxury" condos, not with the salaries of this city, which are the lowest in the country.

The property taxes here are horrible. We bought our condo back in '99 for "peanuts" so it is almost paid off, plus I only pay $1200 taxes per year

Unfortunately, I don't see us moving to another property here in Miami in the foreseeable future. Even if prices start to come down (They already have), you still have to contend with high taxes, high insurance and upkeep costs.

Personally, Miami is an overhyped and overpriced place to live. This place is poor and has a marked "Third World" flavor to it. I tell the wife that someday i want to live in the cool mountains of the American West, the Pacific Northwest, california, etc. To me florida and the East coast are nothing special IMO.

And going back to MINIs, sure, I don't think I would be able to pull off that good of a sale like I did 1 year and a half ago when I sold my '04 MCS for well over brand new sticker price.

 

You can call Mini USA and get the new price and the options.

There are also numerous web sites where you can get the list price of a base 03.

As far as dealers are concerned, I have found that American car dealers are as trustworthy as politicians. Upper scale dealers (like Mini) are much more trustworthy.

I would stop short of calling dealers and salesman liars and cheats, they just think different than most. I think they assume it's their job to tell you whatever makes you buy at the highest price and sell at the lowest price.....truth has no relevance in that equasion.

 

I have my window sticker and just looked at it ... after substracting all my options for my 03 MC ... the base price was $16,425.00

 

almost right....in 2003 base price was as stated but everyone also had to pay a $500 destination charge, BRG is metallic so add $400 and a this car true base cost when new was about 17, 500

But what is said is true....what was paid means nothing....But 11k on trade IS a rip.....but if you trade then you choose to get ripped in the first place.....I guarantee this car to sell MUCH higher if you sell it yourself....never trade in!

 

As I said in a previos reply to this, I just bought my mini last week and I spent a "great" deal of time researching 03's and 04's .

Aftre working three dirrent bottom line deals with dealers and ultimately buying from a private seller, I would have paid 14K for a base mini with 35K miles in a heartbeat.

 

You guys are great.
I agree wholeheartedly with each of you and you all have very valid points. see, when the dealer told me new the car was only worth 14k I was like a deer caught in the headlights. It was one of those things that made you stop and say WTF?

Like last year when... I pulled into the grocery store parking lot, parked, turned off the car, got out, walked across to the next row/aisle and went to take one of 5 shopping carts sitting there where people had left them.
A woman in an SUV that just started pulling into a nearby space leaned out through her car window and started yelling, "Excuse me, THAT's MY CART!!" My BF and I looked at each other trying to determine if she really did say what we just thought we heard her say and then looked back at her and then at the 5 carts. They were identical. She was blonde, she wasn't even parked yet... She didn't just say that, did she? WTF?

It was just like that.
I love my Cooper, even if she is just a base model. I love the color. I love the classic look, I love the solid roof. I love the snub nose and the adorable little bonnet. I want a cooper in every color. I want a whole family of them. I want to line them up and take pictures of them together. I want to make a rainbow out of them. I know, I am crazy....

Seriously, I do love the Coopler and as much as I would like to get another, I don't want to part with her. If I do get another, I imagine it would go much the same as every other new car purchase has goen for me over the years. I buy a new car, the old car sits a while, undriven. Then I start feeling bad because I feel like I am neglecting the old car and wind up selling it privately.
Speaking of which, anyone want to buy a Fiat Spider?

 

I sold a Jeep Cherokee to them when I bought the MINI. They actually paid me more than the KBB number for trade and not too far under what they showed for a private party sale. I was quite happy as I had had the thing in teh paper for a few weeks for not much more and all I got were yokels calling me with ridiculous lowball offers maybe 25%- 40% less than what Carmax gave me.

In other words, never buy a car from Carmax, they are not a good deal.

 

Go to a local car max with a KBB print out in hand.

Still you will be better off selling it privately yourself.

 

I beg to differ on that. I have bought four or five NEW cars from Carmax and got better deals than going to other dealers. As to used cars, I do not believe many stay on their lots. Most likely they are auctioned off. And once again ... KBB means squat. The only thing that matters is the price dealers can auction the cars for (buy/sell) very recently wholesale.