2008 mcs pricing

[Optimus Prime]

2008 MCS, manual, bluetooth and some other things. 5500 miles as a "demo"
MSRP of $27,500 or so.

$24k sound about right? Our friends took it home over the weekend to think about it.

[dan]

$24,000 sounds way high for a used car if MSRP is $27,500

[Optimus Prime]

Originally Posted by undefined

$24,000 sounds way high for a used car if MSRP is $27,500

kinda thought so, but they seem to hold their value well and edmunds had 24,700 so I figured the cooper owners may know what real world is like.

[ff]

demo = abused

[ZBB]

Originally Posted by undefined

$24,000 sounds way high for a used car if MSRP is $27,500

Well, that's 13% depreciation over 5k miles and perhaps 1 year...

We sold our '02 MINI for 60% of what we bought it for... after 4.5 years and a little over 40k miles.

That may be a price worth paying for a low mile car someone bought and babied, but not for a demo, which I'm sure was not properly broken in and not treated well during all those demos...

[SARAFIL]

For reference, I've purchased a handful of "MINI Brass Hats" that are loaded 2008 Cooper S models with $28-32k stickers for $19-20k at auction or directly from BMW NA, and they typically sell for $23-25k retail with CPO warranty.

A few things to consider on this car...
-is it titled or "new"?
-is it a dealer's demo (test drive) car or a factory demo?
-is it a MINI CPO car?
-does it qualify for the 1.9, 2.9, 3.9% financing?

if the answer to the last two is yes, then I would say given that MSRP your friend should be able to get it for around $23k. For reference, invoice on a $27500 car is $24897 and they hold their value, so $1-2k below invoice for this type of car is not a bad deal.

[Rob]

It was a long time ago, but fwiw, I traded the MINI in and got $500 under sticker. As a trade in. You can't bring conventional wisdom to a discussion about MINI resale.

[SARAFIL]

Originally Posted by Rob

It was a long time ago, but fwiw, I traded the MINI in and got $500 under sticker. As a trade in. You can't bring conventional wisdom to a discussion about MINI resale.

They are certainly not that hot anymore, but yes... they hold their value very well and you can't think of them like you think of used luxury cars. In BMW, MB, Porsche, Audi land it is "how many thousands below invoice do you pay for the dealer's demo car?" while at MINI it is "how much of a discount off sticker do I settle for on the dealer's demo car?" This scenario is a bit different because it is last year's model, but the same principle applies.

To this day MINIs are still mostly MSRP, and only in the past year or so have people started to see any discounting. And by discounting, I mean $500-1000 off max on a loaded or "undesireable" (read: someone's wierd cancelled order) car.