Values finally beginning to slip......bubble finally burst?

[dannyboy2005]

I can appreciate figures arent qutie as strong as they were.

I recall my 2003 52 plate MCS with sat nav, full gravity leather, climate, pdc, etc with 6000 miles on the clock went for 17500 trade in July 03. swapped for a 330. I recall getting figures of between 15500 -17500 depending on which dealership, and that was for a 6 month old example.

These days dont know a great deal about " Mini" retained values.

As a matter of interest what does £14000 get you in Cooper S terms?

Are dealers paying book for examples, or as usaul are they behind book?

I figured, a 04 plate MCS w/chilli and 10k should be roughly 13000-13500 trade, how does that sound?

[vagt6]

Unless a car is rare, dealers aren't prone to pay much more than wholesale price for a trade-in. This usually means a value that's at least 10% under retail value for a specific geographic area. Makes sense: the dealer must resell the car to earn a profit!

Most new car dealers in the U.S. set a goal of at least 15% profit margin on used car sales. As such, trading your MINI in to the MINI dealer for a newer model is generally the worst deal you can get for selling your car.

Put that 15% in your pocket, not the dealer's, and sell it yourself!

[dannyboy2005]

10% of book eh?

I didnt realise they were worth so much less.

Taken from GLASSES GUIDE......

MINI COOPER S WITH CHILLI and MET PAINT 2004 "04"

MINI Mini Cooper S
1.6 Petrol 3-door Hatchback
6 Speed Manual Front Wheel Drive
Year: 2004 04
Mileage: 10,000

Part-exchange Price:
Excellent condition:
£15000
Average condition:
£13550
Below average condition:
£12050

Stealers usually go off Average (on a good day),.

So basically your saying shave another 10% off this, and your roughly there?

[northandy]

I recently traded my June 03 S with 37k miles, chilli pack and a few little options, listed at 16.7k new.... got 13k trade in.... which considering the miles id done in 18months wasnt too bad.... I was being offered 12k by mini dealers

[lupton1]

Just been offered £14000 for a july 04 mcs with chilli and heated bits, with 8500 on the clock at sandals in wakefield, needless to say sold it to a mate instead of the stealer.

[dannyboy2005]

I'm refering to pure trade list price.

Sure if you trade it in for something else, the stealer will discount the new car to get your business, making it appear as though your actaully getting more.

[dannyboy2005]

Bearing in mind "ALL" dealers will want to stick 2000-2500 across the screen.

FORGWET WHAT IS SAYS IN THE DEALER MARKUP THREAD, HAVING WORKED IN TEH MOTOR INSUSRTY I AM FULLY AWARE MOST OF THAT THREAD IS A PILE OF STEAMING BU77*****.

The fact of the matter is dealers would go out of business if they were only making 500 profit. What about other deductions such as advertising, site maintenance, electrics,phone, etc.

That thread is probably written by some fool who works for mini, trying to shaft every1 on here. No doubt this board is full of mini sales team representatives.

[dannyboy2005]

Fact of the matter is the bubble has burst, there are deals out here to be had.

The above price guide is basically spot on.

Am i right or am I right Mr sales managers?

[simeds]

suppose its steady decline until yr before new model arrives then plummett

[Miniade]

Actually Glass's Guide this month is £14,675 trade for an 04 MCS Chilli. Spec, condition, mileage obviously affects that.

BTW I am an independent car dealer, or stealer, as DannyBoy lovingly call us, and no I dont sell minis (in another sector altogether), and I would just like to say:

Like all of you, we work to make a living. DannyBoy is right - we nearly all do it for money, not for love.

[dannyboy2005]

Quote: Originally Posted by Miniade

Actually Glass's Guide this month is £14,675 trade for an 04 MCS Chilli. Spec, condition, mileage obviously affects that.

BTW I am an independent car dealer, or stealer, as DannyBoy lovingly call us, and no I dont sell minis (in another sector altogether), and I would just like to say:

Like all of you, we work to make a living. DannyBoy is right - we nearly all do it for money, not for love.

You'd pay that to bring a car into your stock would you? (main dealer sales manager s******s )

I'm not knocking it, just trying to illuminate peoples minds to the fact deaelrs dont make 400 profit on minis! AS stated in another thread.

BTW, Independants I can tolerate. That price sounds a bit rich, sounds more like 13500, remember we are in March.

Wonder what a Mini buyer working for one of the countries fine BMw stealerships would stamp on it!?

BTW, whats the mini-mum(no pun intended!) youll work for in the metal, after house chardge, recon,vat, etc, £900 (on a bad day?) I pressume you are a dealer, not a trader?

[speedsman]

If theres still a demand then 2nd hand values should stay highish. The main problem has been bmw improving the amount the factory has been producing. The biggest mistake is going to be the expansion to the factory soon it will end up been like a ford situation with loads of cars parked in fields all over. Discounts all over the shop and I can see some serious cost saving been introduced with the new model in 2006. All to benefit bmw profit margins and not benefiting the brand or the consumer. Another one bites the dust. We will see give it two years and minis will lose 50% in the 1st 3 years like every other main stream car.

[Wobert]

Quote: Originally Posted by Miniade

Actually Glass's Guide this month is £14,675 trade for an 04 MCS Chilli. Spec, condition, mileage obviously affects that.

BTW I am an independent car dealer, or stealer, as DannyBoy lovingly call us, and no I dont sell minis (in another sector altogether), and I would just like to say:

Like all of you, we work to make a living. DannyBoy is right - we nearly all do it for money, not for love.

Parkers "Guide" quotes £14210...........and I thought PCG was always optimistic?

[Paul]

They're producing more and more, there's more and more models, there's been an update already and by the end of 2006 we will have a new car with a new engine that everyone will know is coming. So yes, prices are bound to fall. However, like the 3 series, I expect the MINI will somehow retain a falsely high value compared to other super-minis purely because "it does".

[Miniade]

Remember it always a guide price.

Dannyboy - yes I am a dealer. I agree with you £500 profit in the metal is unsustainable. I sell prestige 4x4's (and i am going to get greenpeace giving me grief now - remember i sell em - i drive a mcs works) and yes we do need decent profit to stay in business. There is no minimum it depends on a variety of factors - ie how badly we want to sell, how easily it can be replaced etc.

You should always bear in mind that vat, recon, warranties etc can also be v. expensive, as can weekly advertising bills.

Personally, having sold my previous 02 52 MCS in January, I felt that there were a lot of similar cars for sale. But I still made £13,600 of it and considering its ratio to cost new, a very good deal for me.

What happens now with values is largely in BMW's control - yes they will depreciate a larger percentage than before but MINI's have been around for a few years now and a bit of the honeymoon period for used values has gone. Any oversupply will depress values further.

Having lectured on that, IMO cars are for enjoying and driving. Motoring costs money and as long as we all stay within our capabilites financially, just get in the MINI and smile .