That's what the dealer offered me today for a 2009 model with 3.5k miles in perfect condition. My residual amount in August 2011 on the lease is $20k. Sweet offer.

 

unless it's an untitled demo, how can U lease a used vehicle?

 

I leased it new...that's what the dealer is offering for me to trade it in. I chuckled and said no thanks.

 

Sadly that is current trade-in value.

Tough economy... brutal time to try to sell anything.

 

gotcha

 

when I traded my 05 last July for top $$ the dealer had zero used and new inventory. MINI sales were still moving with gusto, employees were busy, Shell 91 was $4.45

now, my dealer has nearly 100 cpo, used and dealer stock cars sitting on her lot, the 'ship is more like a real car sales place, with staff standing around or working the phones.

Just before I was there, I paid $1.69 for Shell 91.

this is getting scary weird....

 

Sit tight, the correction will correct again

 

I just traded in my 7 month old '08 MCS on my new '09 JCW. It was $28450 MSRP new, low mileage, perfect condition. It never got that far, but the dealer indicated it would be worth about $21-22K to them, my friend's independent leasing company gave me $24K for it. Dealerships have many pockets to pay, his smaller company can do okay even if he sells it at a slight loss, as long as he can arrange financing for it. All that said, it's a buyer's market for cars in general right now, but the corollary to that is that used car prices suck right now too. The much vaunted MINI resale value has taken a severe dive as of late.

 

Agreed!

right now is just a weak time, the dealer just did not want to take a hit or sit on it for year end #'s

 

Yup, better trade-in values are just a few weeks away...or months...or years... Anyone who thinks the economy is turning around any time soon may be in for a long, long wait.

 

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