Guys..need some help..
I am trying to sell/trade in my almost new 2008 MCS (one month old with about 2K miles). I paid around $31K + ttl but local MINI dealers offering around $25K.
Any suggestion/comment?
I thought MINIs were in strong demand these days not to mention one of the highest resale values.

 

there is a big difference between trade in and resale value. If you trade you will always get whacked and you will almost always make out better selling your car outright. You will take a loss. If you need to sell it you have to make it desireable for someone to buy your car vs a new one. What were you attempting to trade it in for?

 

You should be able to get ~$29k private party I'd guess. Why are you trading in a 1 month old car?

 

Yep, the dealer will wack you and then turn around and sell it for $3k to $4k more than they gave you, that's the business... Sell it privately, you'll make out better though don't expect to get what you paid. Why are you selling so soon if I might ask?

 

I bought two MINIs recently replacing one sedan and one SUV but I think that was a mistake... Everything's good but it's not very practical carrying more than two people.. I realized I need at least one sedan.
Has anyone thought about it?

 

Sell it on Craigslist. Don't trade it in!

 

As oil rises, MINIs become much stronger in demand it seems. What's that dealer's stock of used inventory look like right now? If there are plenty of used yes U will get low-balled. If there are few to none, the trade in offer will be MUCH higher. My trade in offer was so good, and not much less than *realisitc* resale, I decided to go this route rather than trying to privately sell a problem car. But then my dealer has NO used inventory...

And Craigslist is NOT the best way to sell privately, it's full of flakes, lunatics, and scammers of all shapes and sizes. Been there, done that.

 

How about Carmax?
Has anyone tried there?

 

Not always, especially now. the trade in offer for my 2005 S with low miles was $2,000 less back in March, when my dealer had plenty of CPO MINIs on the lot. Now, with oil much higher and used MINIs in strong demand, they have none, so that same trade offer is $2,000 higher because they are desperate for immaculate oem MINIs that could rate being sold as certified pre-owned.

For the first time in my life, I am quite content with a trade in offer which, to me, is fair, equitable, and best of all, locked in until estimated delivery of Syd (November.) My dealer even had a new set of runflats they'll throw on it to sell as a CPO, and I get my BFG G-Sports back.

 

Better than Craigslist, that's fer sure. I would even do eBay auto, and pay the fees, rather than hassle with CL.

 

carmax will give you the most 27K at best...I dont see you getting more, and car max does give you better then most dealers, unless you have a damaged car

 

CARMAX blows - offered me $21,000 for my 07 MCS JCW - dealer gave me $24,000 - fully knowing it had some body work done recently.

 

This may be stating the obvious here, but why not put it on the NAM marketplace? No better place than here!

 

The jerk dealer offered me 16 Gs for a 29G MINI 10months old. As with everyone else here, sell it privately, these cars sell themselves,,,why you selling your car?

 

He answered it above...

Why not try cars.com, it's better than Craigslist, it'll cost you about $30 to $40 and you can list it until it sells. Cars.com sort of filters out the crazies and scammers, I've sold 3 cars that way. People can see pictures, options, free carfax info and more... Just another option.

 

Who wants a Mini man if I had one an order or was having trouble locating one this sounds like a great car Well doesn't it a $31000 s has got to be loaded

 

Depending on the state where you live there can be a big tax advantage in trading in. In the states where I have lived (MA, FL), you pay sales tax on what you paid for the new car. If you have a $30k trade-in on a $35k new car, you only pay sales tax on $5k. If you sell privately, you end up paying the sales tax on the full $35k. With a 6% sales tax, that is a $1,800 difference. Also the cost of getting new plates is often more than just transfering the existing plate on the trade-in. All this can make a trade-in for $2k less than you can sell privately a good deal.

 

Tax benefit on $25K would be $2000 in WA. If I could sell it privately for $28000 or better I would. For less than $1K difference, I would just trade it in. $31K new? I don't know if private party would buy it for $28K.

 

Its always unwise to sell a new car in its first year, if possible wait a year, you will probably wind up getting close to the same price for it then, and get a year of use out of it.

 

You would think that of all places, Mini would give you the best price on a trade-in, it seems they would rather low ball you. I think they don't want used Minis, they even tell you to go sell it yourself instead.

 

The cars maker is usually the best place to get the highest trade in, but its still not as good as private sale, or ever that good the first year of purchase.

 

I recently sold a car and I listed on Edmunds.com and Cars.com. I received dozens of inquiries from my Edmunds listing and only 1 from the Cars.com. Edmunds uses AutoTrader, but I believe they'll also list it in 1 or 2 more places - that's the advantage of going through them instead of straight to Autotrader.com.

You should definitely try sell the car on NAM too.

 

If you could hold on to it for a year, you'll come out way ahead.

 

25k sounds about right based on the auction reports I saw when I traded in my car.

 

I did end up getting $28K from a local dealer...so not bad I guess although it's still a loss..
I got a new 2008 CTS and am keeping the other MINI I have.
Thanks all for your thoughts and comments!