MINI2

Rakey · Oct 15th, 2006, 08:49 PM

Ok first things first, DO NOT go posting where GP's are for sale in this thread, such posts will be removed

But I like many of other people probably do, know a dealer that has brought back two GP's already and is selling at an increased price over the £22000 list price, listed up at over £25000

Firstly how do you feel about this?

Would you consider buying one over the price?

Should this be allowed?

Personally I think that its a fecking liberty, and I would not pay over the odds to a dealer for a used car, even if it is a limited edition, and I don't think that MINI should allow its dealers to do such things!

Fevs · Oct 15th, 2006, 08:52 PM

Fecks me off my local dealer has just put one on the road so thay can then sell it at a premium price and make a few quid more

its wrong and MINI should stop it but hang on thay are making a extra buck so that aint going to happen

Jordan210 · Oct 15th, 2006, 08:52 PM

I have seen a few over the priced ones about.

I think its rong realy. Trying to make a quick buck.

I would not pay more for one they you could get it brand new. I htink the dealers that are selling them should not be i think BMW should step in and make them list the price as it should be.

Skykatz4 · Oct 15th, 2006, 08:57 PM

i agree with you! i now own a gp and called every dealer about a month ago and managed to find one at list price. then about 2 weeks later another dealer rang me and said they had one at list price.

now dealers are selling them at 3-4k over list price. this is outrageous!! how can they be allowed to do this.

i called a dealer and asked them.if the car has already been registered they say they can sell it at whatever they like.

what a bunch of money grabbers.

monkeynuts · Oct 15th, 2006, 08:57 PM

If it was a private individual id say fair play - take advantage of the muppets that are willing to pay such crazy prices

as its a dealer well, im suprised its allowed really

but then again it is BMW

LMB · Oct 15th, 2006, 09:03 PM

Once registered they can sell them for what they like.

ABG · Oct 15th, 2006, 09:06 PM

I agree it sounds wrong but as these were sold and bought back they are now "used cars". I don't see BMW can do anything about it - the dealer isn't selling new cars at over list. If people are willing to pay the money then that's the going rate, no matter how mad it seems.

The same sort of thing will probably happen when the very first used E90/E92 M3's appear.

Hopefully the owners got a good price (i.e. at least what they paid for it).

Lorien · Oct 15th, 2006, 09:16 PM

what is wrong is BMW charging Transport fees. that is wrong.

as to dealers selling at different prices.. i see no problem with that. its a business, they can sell at any price they like, and its up to the buyer to either buy or look elsewhere. dont see the problem here.

ASTON · Oct 15th, 2006, 10:01 PM

Quote: Originally Posted by Lorien (original)

what is wrong is BMW charging Transport fees. that is wrong.

as to dealers selling at different prices.. i see no problem with that. its a business, they can sell at any price they like, and its up to the buyer to either buy or look elsewhere. dont see the problem here.

i agree

now who wants to buy mine

Tonyt3 · Oct 15th, 2006, 11:22 PM

Dont forget, BMW dealerships are simply franchises, not owned by BMW themselves.

If they were selling them as new for more than MSRP, like the US dealers did with Cooper S's for the last few years in certain states, then yes, I'd say that was beyond fair.

However, as these are for all intensive purposes second hand cars, then the law of the free market stands, that is supply and demand setting true value of the car.

Currently, there are people that want to buy the car. Since it got such rave reviews in the press, more people have come forward as potential owners. Whilst this trend continues, the value of the car will remain very strong. The dealer knows he can charge over list, so he will. The flip side of this is, as a seller, you know you can probably achieve 100% value on sale, even to a dealer. So those that bought in the first place probably dont lose any money.

Simple law in this country, and most other capitalist countries, if you own, or can supply something that many people want, but few examples exist, you can charge pretty much what you want.....

Personally, I'm surprised the market would be so strong for a car thats very soon going to wear the not so nice badge of previous model'.... if you have one of these cars now, and are pretty sure your not keeping it long term, best advice would be to sell it as soon as you can. Three months time, a potential £1-2k profit on a 3 month old car will probably be a £4-6k loss - which is a big swing.

Put it this way - how many of these current 'potential buyers' will still be in the market for a USED GP when they just announced the New gen Works has 240bhp, and all those lovely improvements that the new car has......(this is conjecture, not fact, dont go demanding more facts just yet)

Long term residuals of the Works GP will always be good. However, once it starts to fall, it usually falls quickly - and it'll be 12-15 years before a GP is worth more than list price again. Look at the Aston Martin V8 Vantage - people have been driving them for 6-9 months basically free of charge - and selling them at list or above. Bottom just fell out of that market though, and residuals are crashing.....

Lorien · Oct 15th, 2006, 11:44 PM

I might have to move to the US in Jan 07. If that happens .. will have to sell my GP. your points help me understand the situation better. so thanks Tony.

Tonyt3 · Oct 16th, 2006, 08:58 AM

Quote: Originally Posted by Lorien (original)

I might have to move to the US in Jan 07. If that happens .. will have to sell my GP. your points help me understand the situation better. so thanks Tony.

Put it in a large metal box and take it with you.....

Lorien · Oct 16th, 2006, 09:09 AM

not taking out my ricaro seats though! and probably going to have to go through hell with US reg no?

hey can someome drive around in the US with UK plates?

AprilWhine · Oct 16th, 2006, 09:21 AM

Quote: Originally Posted by Lorien (original)

not taking out my ricaro seats though! and probably going to have to go through hell with US reg no?

hey can someome drive around in the US with UK plates?

Yes, if they have a diplomatic passport. For regular people, I don't know. I don't see why it would be different than driving across the border with Canadian or Mexican plates.

Lorien · Oct 16th, 2006, 09:35 AM

hmmm well ill look into it. though i am better off to sell it here and buy something else there. the car is worth ($$ wise) a lot more in europe than in the US. id lose a lot of money by taking it with me to the US.

you guys paid a lot less for it..

R1 · Oct 16th, 2006, 09:39 AM

My local dealer has a "buy back" GP in their showroom for sale. Over £25K !

They offered it to me for part ex my JCW S back. I'd do a straight swap at a push but that's it!

Joogle · Oct 16th, 2006, 07:33 PM

Dealers cannot sell over list on new cars as that is a breach of the franchise rules. But as already pointed out with used cars its a case of supply & demand. The GP is in demand so therefore attracts a premium. There is nothing wrong with this. (Apart from it being priced out of the real Mini fans price range........)

What you should be asking is what did the sellers get for their cars..........

Oct 15th, 2006, 08:49 PM	#1
Rakey Four Candles? My Classifieds Join Date: Apr 2003 Location: Hardware Shop Local Time: 08:20 AM Posts: 51,172 Offline	Overpriced GP's Ok first things first, DO NOT go posting where GP's are for sale in this thread, such posts will be removed But I like many of other people probably do, know a dealer that has brought back two GP's already and is selling at an increased price over the £22000 list price, listed up at over £25000 Firstly how do you feel about this? Would you consider buying one over the price? Should this be allowed? Personally I think that its a fecking liberty, and I would not pay over the odds to a dealer for a used car, even if it is a limited edition, and I don't think that MINI should allow its dealers to do such things! The only problem I have is knowing which one to drive?
http://www.mini2.com/forum/

Oct 15th, 2006, 08:52 PM	#2 (permalink)
Fevs heading north !!!! Join Date: Aug 2003 Location: on the move Local Time: 08:20 AM Posts: 8,934 Offline	Fecks me off my local dealer has just put one on the road so thay can then sell it at a premium price and make a few quid more its wrong and MINI should stop it but hang on thay are making a extra buck so that aint going to happen Global motivator

Oct 15th, 2006, 08:52 PM	#3 (permalink)
Jordan210 Cyber Police My Classifieds Join Date: Aug 2005 Location: In your House ! Local Time: 08:20 AM Posts: 9,583 Offline	I have seen a few over the priced ones about. I think its rong realy. Trying to make a quick buck. I would not pay more for one they you could get it brand new. I htink the dealers that are selling them should not be i think BMW should step in and make them list the price as it should be. MINI2's Resident Dyslexic

Oct 15th, 2006, 08:57 PM	#5 (permalink)
monkeynuts my ponies have escaped!!! My Classifieds Join Date: Feb 2004 Location: TBC Local Time: 08:20 AM Posts: 5,100 Offline	If it was a private individual id say fair play - take advantage of the muppets that are willing to pay such crazy prices as its a dealer well, im suprised its allowed really but then again it is BMW m o n k e y : n u t s

Oct 15th, 2006, 09:03 PM	#6 (permalink)
LMB Toon Toon.. <div><a href= Join Date: Aug 2001 Location: Up North Local Time: 08:20 AM Posts: 24,967 Offline	Once registered they can sell them for what they like. Global Moderator

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Oct 15th, 2006, 08:57 PM	#4 (permalink)
Skykatz4 MINI2 Newbie Join Date: Oct 2006 Local Time: 08:20 AM Posts: 17 Offline	i agree with you! i now own a gp and called every dealer about a month ago and managed to find one at list price. then about 2 weeks later another dealer rang me and said they had one at list price. now dealers are selling them at 3-4k over list price. this is outrageous!! how can they be allowed to do this. i called a dealer and asked them.if the car has already been registered they say they can sell it at whatever they like. what a bunch of money grabbers.

Oct 15th, 2006, 09:06 PM	#7 (permalink)
ABG Yatta!! Join Date: Jun 2003 Local Time: 08:20 AM Posts: 8,434 Offline	I agree it sounds wrong but as these were sold and bought back they are now "used cars". I don't see BMW can do anything about it - the dealer isn't selling new cars at over list. If people are willing to pay the money then that's the going rate, no matter how mad it seems. The same sort of thing will probably happen when the very first used E90/E92 M3's appear. Hopefully the owners got a good price (i.e. at least what they paid for it).

Oct 15th, 2006, 09:16 PM	#8 (permalink)
Lorien GP 1986 My Classifieds Join Date: Apr 2002 Location: Provincia di Cuneo Local Time: 10:20 AM Posts: 401 Offline	what is wrong is BMW charging Transport fees. that is wrong. as to dealers selling at different prices.. i see no problem with that. its a business, they can sell at any price they like, and its up to the buyer to either buy or look elsewhere. dont see the problem here.

Oct 15th, 2006, 10:01 PM	#9 (permalink)
ASTON A mini is a way of life. My Classifieds Join Date: Nov 2003 Location: South Wales Local Time: 08:20 AM Posts: 2,774 Offline	Quote: Originally Posted by Lorien (original) what is wrong is BMW charging Transport fees. that is wrong. as to dealers selling at different prices.. i see no problem with that. its a business, they can sell at any price they like, and its up to the buyer to either buy or look elsewhere. dont see the problem here. i agree now who wants to buy mine

Oct 15th, 2006, 11:22 PM	#10 (permalink)
Tonyt3 Track addict Join Date: Jan 2003 Location: Hants Local Time: 08:20 AM Posts: 6,260 Offline	Dont forget, BMW dealerships are simply franchises, not owned by BMW themselves. If they were selling them as new for more than MSRP, like the US dealers did with Cooper S's for the last few years in certain states, then yes, I'd say that was beyond fair. However, as these are for all intensive purposes second hand cars, then the law of the free market stands, that is supply and demand setting true value of the car. Currently, there are people that want to buy the car. Since it got such rave reviews in the press, more people have come forward as potential owners. Whilst this trend continues, the value of the car will remain very strong. The dealer knows he can charge over list, so he will. The flip side of this is, as a seller, you know you can probably achieve 100% value on sale, even to a dealer. So those that bought in the first place probably dont lose any money. Simple law in this country, and most other capitalist countries, if you own, or can supply something that many people want, but few examples exist, you can charge pretty much what you want..... Personally, I'm surprised the market would be so strong for a car thats very soon going to wear the not so nice badge of previous model'.... if you have one of these cars now, and are pretty sure your not keeping it long term, best advice would be to sell it as soon as you can. Three months time, a potential £1-2k profit on a 3 month old car will probably be a £4-6k loss - which is a big swing. Put it this way - how many of these current 'potential buyers' will still be in the market for a USED GP when they just announced the New gen Works has 240bhp, and all those lovely improvements that the new car has......(this is conjecture, not fact, dont go demanding more facts just yet) Long term residuals of the Works GP will always be good. However, once it starts to fall, it usually falls quickly - and it'll be 12-15 years before a GP is worth more than list price again. Look at the Aston Martin V8 Vantage - people have been driving them for 6-9 months basically free of charge - and selling them at list or above. Bottom just fell out of that market though, and residuals are crashing.....

Oct 15th, 2006, 11:44 PM	#11 (permalink)
Lorien GP 1986 My Classifieds Join Date: Apr 2002 Location: Provincia di Cuneo Local Time: 10:20 AM Posts: 401 Offline	I might have to move to the US in Jan 07. If that happens .. will have to sell my GP. your points help me understand the situation better. so thanks Tony.

Oct 16th, 2006, 08:58 AM	#12 (permalink)
Tonyt3 Track addict Join Date: Jan 2003 Location: Hants Local Time: 08:20 AM Posts: 6,260 Offline	Quote: Originally Posted by Lorien (original) I might have to move to the US in Jan 07. If that happens .. will have to sell my GP. your points help me understand the situation better. so thanks Tony. Put it in a large metal box and take it with you.....

Oct 16th, 2006, 09:09 AM	#13 (permalink)
Lorien GP 1986 My Classifieds Join Date: Apr 2002 Location: Provincia di Cuneo Local Time: 10:20 AM Posts: 401 Offline	not taking out my ricaro seats though! and probably going to have to go through hell with US reg no? hey can someome drive around in the US with UK plates?

Oct 16th, 2006, 09:21 AM	#14 (permalink)
AprilWhine Loves the Fuzzy One Join Date: Mar 2002 Location: Gypsy Local Time: 12:20 AM Posts: 17,046 Offline	Quote: Originally Posted by Lorien (original) not taking out my ricaro seats though! and probably going to have to go through hell with US reg no? hey can someome drive around in the US with UK plates? Yes, if they have a diplomatic passport. For regular people, I don't know. I don't see why it would be different than driving across the border with Canadian or Mexican plates. Global Moderator

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Oct 16th, 2006, 09:35 AM	#15 (permalink)
Lorien GP 1986 My Classifieds Join Date: Apr 2002 Location: Provincia di Cuneo Local Time: 10:20 AM Posts: 401 Offline	hmmm well ill look into it. though i am better off to sell it here and buy something else there. the car is worth ($$ wise) a lot more in europe than in the US. id lose a lot of money by taking it with me to the US. you guys paid a lot less for it..

Oct 16th, 2006, 09:39 AM	#16 (permalink)
R1 Addicted to Speed!! Join Date: Sep 2001 Location: ..."B" roads!! Local Time: 08:20 AM Posts: 4,915 Offline	My local dealer has a "buy back" GP in their showroom for sale. Over £25K ! They offered it to me for part ex my JCW S back. I'd do a straight swap at a push but that's it!

Oct 16th, 2006, 07:33 PM	#17 (permalink)
Joogle MINI2 Master Join Date: May 2006 Location: Midlands Local Time: 08:20 AM Posts: 915 Offline	Dealers cannot sell over list on new cars as that is a breach of the franchise rules. But as already pointed out with used cars its a case of supply & demand. The GP is in demand so therefore attracts a premium. There is nothing wrong with this. (Apart from it being priced out of the real Mini fans price range........) What you should be asking is what did the sellers get for their cars.......... Its a very difficult job and the only way to get through it is we all work together as a team.....

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