I went to kbb.com and plugged in numbers and its verdict was like $1000 more than the MSRP I paid. Funny but interesting.

 

Its been like that for a while, I could believe it if the economy wasn't quite so sucky. A lot of people pay more than MSRP anyway, and a car available now is worth more than one to be delivered in a month or 2.

However, KBB seems to be over optimistic, I got no interest at the KBB valuation when I was selling our MINIs.

 

kbb is worthless, Edmunds is ok, but still a bit over optimistic. Edmunds has a lot of good info though. The best source for vehicle value is to research the selling sites, like ebay, craigslist, cars.com, autotrader. See what things are selling for.

 

Pricing guides (and even the selling sites) can be particularly problematic when it comes to the MINI, because of MINI's "low MSRP/long option list" philosophy.

With most cars, you pick a prepackaged "trim level", like Honda's DX/LX/SI scheme, and within each trim level, there are only a few options, with the only high-dollar ones typically being things like NAV or leather seats (if they're not already part of the trim package). As a result, you know that if you look at two Accord LX V-6 models, they're going to have pretty much the same options.

But a MINI 'S' could have originally left the lot for $21k or $40k, depending on the options, and the pricing guides like KBB just can't achieve the required granularity to accurately price all of the possible configurations.

 

paid 22125 in 2007
mileage 15000

kbb 23500 6% increase
edmunds 19666 89% residual

payoff balance 16800

 

LOL. Maybe thats why every private seller is selling their MC for $3k over BB? Damn, I understand the gas mileage argument, but they're like predatory lenders.

 

It's almost impossible to try and explain to a person trading in a MINI Cooper if they've only used KBB as their valuation for their car trade-in.

The auction prices are your true indicator of the values of the cars for trade-in.

 

I got an offer for $30k and I paid $29k including tax. It is just too much of a hassle to get a new car, even though they would sell it to me at sticker. Maybe if I was offered $32k+.

 

Got an offer of 30K from whom? For a car you paid 29K for how many miles ago, and you didn't take it? Please, cars do not appreciate in value, if you found someone to pay more for your used car than they can get it for new, I'd take it fast! There is plenty of people having trouble selling used cars for true market value.

 

Another problem with online pricing guides I've seen is that most buyers want or need to talk the price down to feel better about buying a car. I know I feel better the less I pay for any car... Or anything for that matter.

 

I feel OK when I pay TMV of edmunds.com. If I pay more than TMV, I feel like I am not as good as an average Joe.