What is my Mini worth? Retail? Wholesale?
2005 Mini S
Red
Tartan Red Cloth/Panther Black Leather seat
Combo #3 Cold Weather Package
Combo #1 Premium Cruise/Sunrof Package
Combo #2 Sport Package
Limited Slip
Chrome Line Interior
Rain Sensor/Auto Headlights
Cockpit Package
Haram-Kardon Sound System
29,xxxx miles
In excellent condition

I am considering selling her and or trading her. I may need somehting larger for work. Opinions?
Any help is appreciated

 

Well trade is always going to be alot less than what you want and if you sell out right then becareful of any tax implications if those apply. Sounds like a nice MINI so good luck!

 

I agree that Trade would be a lot less - but you are correct - don't I pay taxes on the difference of the 2 value autos? In other words you trade a $20k for a $25k and pay tax on $5k. Isn't that correct?

 

I am not sure exactly how the numbers work up but thats the idea and depending on your tax bracket as to how much that would effect you at tax time so be prepared.

 

I'm not sure how it works in the midwest, but in florida, you pay taxes on the difference between the trade-in value and the car you are purchasing. I am a M.A. in Jacksonville, Fl. Also an accurate value for your car both retail and trade-in is Edmunds.com. I have found this to be the closest "actual realistic value" for the MINI market. Hope this helps.

 

I did Edmunds - but wondered if how realistic is was. THANKS - if I sell her can I still play with you guys on line at least

 

That is correct.

 

you pay the sales tax on the difference.

but, if you buy a vehicle you can present them with a bill of sale for the old one and they will give you credit and you will still pay the sales tax on the difference. you have 180 days to purchase a vehicle and register it to use the credit.

another scenario is, you buy a vehile and pay salestax on the entire purchase price, sell your Mini within 180 days and apply for sales tax refund. they will give you the sales tax that you "overpaid" back.

i was in all 3 situations and it works (speaking for MO).

good luck.

 

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Your market may be different than mine, however if you subtract about $750 from "average" trade-in value, you should be real close to "actual" trade value at a dealership. Private sale is always the best chance to make more money.

 

You mean loose less money, right?

 

Hi...
I bought my 2005 S used at a dealer recently, sounds like ours are pretty close. Mine is a black S with the same packages except the H-K sound system and I have a convertible instead of the sunroof. Mine is in excellent condition, looks brand new, and it had 34K miles on it. I bought it for $21K, but I'm in an area where MINIs aren't in demand either, so they had dropped the price. Plus I bought it when it was cold and no one was thinking "oooooh, convertible". Since the weather is getting warmer, it might be good to try to sell it yourself and boost the sunroof selling point, plus the H-K sound system. Just my 2 cents. Hope that helps!
Valerie

 

It became very obvious that I am not going to trade it in. That offer was just crazy. So I am trying to advertise it. Carsoup.com Post (That was a waste of $$) Mini Classifieds. But yes that info really helps. My starting price is $23,000.