Negotiating used car price (MINI)

sillysocks

I've recently decided on buying a second-hand MINI One and had a look at some today and really liked one of them but just how people think I should go with the 'negotiations' of the price and what would be a fair price for the car.
Its a 2004 MINI One with pepper pack being bought from a MINI dealer (so will get the year warranty, roadside assist etc, and free servicing until 2009). Theres only 10.5k miles on the clock, red (with red roof).

I was thinking of trading in my car but he's offering a silly price for it so think I will just go down the route of cash - sell my car privately, and get the loan myself for the car.

The asking price for the car was 20,575. He said he wasn't going to give me his 'best price' until I had decided on buying (silly i think!!) and said "well i could knock the 575 off anyway as you'd expect" but we didn't go into any more negotations, I'm hoping to maybe talk to him again on Mon about it and wonder what people think I should offer for the car and what might be a good price for that car/spec? I obviously want to get it for as cheap as possible, but am hopeless when it comes to knowing what I should offer him and how to play it! Any suggestions would be great?

dil999

you should expect to get 6 to 10% off the asking price. Dont take less than a 6% discount.

Owen

You won't get anywhere near 6% discount on a MINI. The 575, believe it or not, is significant discount on a MINI, they're a low margin, no discount brand. It's also conincidentally the reason your Part Exchange is below the value you expected.

For the record Sillysocks, I got your PM too, but I'm off for a few days, I'll look up what you want me to on Monday if that's okay?

sillysocks

ned78 wrote:

You won't get anywhere near 6% discount on a MINI. The 575, believe it or not, is significant discount on a MINI, they're a low margin, no discount brand. It's also conincidentally the reason your Part Exchange is below the value you expected.

For the record Sillysocks, I got your PM too, but I'm off for a few days, I'll look up what you want me to on Monday if that's okay?

No worries, ned78, thanks.

So you think that I'd be pushed to get it much cheap than 20k? I think I probably would get some little bit more off.... mainly because he already told me he wasn't going to give me his best price today ! but i don't know how much more.

One of the dilemas is that there is also an 06 version with TLC pack,10kmiles.... some friends went into the dealer later today and got him down to 21,975 on that one (so only a 2k diff), so my head is telling me that that is better deal but don't think finances will strech the extra 2k!

ballooba

Nearly same car is available here for €16,500 here:
http://atsearch.autotrader.co.uk/www/CARS_popup.asp?searchform=&modelexact=1&lid=search_used_cars_full&photo=1&state=none&sort=3&hassearched=Y&make=MINI&min_pr=75&source=0&model=ONE&max_pr=10000&miles=1500&agerange=5&mileage=3&postcode=bs32+4nf&variant=&bodyid=0&trim=&fuelid=0&colour=&transmissionid=0&keywords=&ukcarsearch_full.x=24&ukcarsearch_full.y=10&start=3&distance=304&adcategory=CARS&channel=CARS&id=200710273851226

I'm presuming the five year warranty is transferable from owner to owner and from the UK to IRL?

This is the one you were looking at?
http://www.usedcars.ie/usedcars/index.cfm?fuseaction=car&carID=563622

sillysocks

ballooba wrote:

Nearly same car is available here for €16,500 here:
http://atsearch.autotrader.co.uk/www/CARS_popup.asp?searchform=&modelexact=1&lid=search_used_cars_full&photo=1&state=none&sort=3&hassearched=Y&make=MINI&min_pr=75&source=0&model=ONE&max_pr=10000&miles=1500&agerange=5&mileage=3&postcode=bs32+4nf&variant=&bodyid=0&trim=&fuelid=0&colour=&transmissionid=0&keywords=&ukcarsearch_full.x=24&ukcarsearch_full.y=10&start=3&distance=304&adcategory=CARS&channel=CARS&id=200710273851226

I'm presuming the five year warranty is transferable from owner to owner and from the UK to IRL?

This is the one you were looking at?
http://www.usedcars.ie/usedcars/index.cfm?fuseaction=car&carID=563622

Yup that was the one - going out to the garage had said I didn't want red cause so many of them seem to be around, but loved it when I saw it!
Living in Waterford so not really too interested in UK/NI as its too far to go. Don't mind Dublin or any surrounding counties here.

Thats a good point about the five year warranty - is that the standard that comes with the MINI new? If so maybe ned78 you'd know if thats transferrable? that'd mean buying privately might not be so bad?

bazz26

sillysocks wrote:

Yup that was the one - going out to the garage had said I didn't want red cause so many of them seem to be around, but loved it when I saw it!
Living in Waterford so not really too interested in UK/NI as its too far to go. Don't mind Dublin or any surrounding counties here.

Thats a good point about the five year warranty - is that the standard that comes with the MINI new? If so maybe ned78 you'd know if thats transferrable? that'd mean buying privately might not be so bad?

Did you go to a different dealer to see if you can get a better deal?

Also if you can afford to buy the car before you sell your old one then do it. Since you are still toying with the idea of trading your car the dealer didn't think you were serious about the cash price. While the MINI is a car that keeps it's value used and there is strong demand for them, I still would not pay over the odds for one, there are still a good selection of used ones to choose from. Remember alot of people will now be trading their old model MINIs for the new 2007 model.

€575 discount off the asking price of €20,575 is not good enough in my book for a cash discount. You really need to be able to walk into the garage with the money in your pocket and your mind made up that you are ready to buy. Tell the dealer you have €19,500 in your pocket to buy the car now. Do we have a deal? Don't be afraid to turn you back and walk out the door to go to another garage if the price is too high.

Owen

bazz26 wrote:

Tell the dealer you have €19,500 in your pocket to buy the car now. Do we have a deal? Don't be afraid to turn you back and walk out the door to go to another garage if the price is too high.

It won't work Bazz. Trust me, the demand for used MINIs far outstrips the supply. I get upwards of 20 used MINI enquiries a week. I'm lucky if I get 4/5 cars a month to supply the demand. Besides, the margins you're talking about don't even come close to applying to a MINI Dealership.

Owen

ballooba wrote:

I'm presuming the five year warranty is transferable from owner to owner and from the UK to IRL?

It's not a 5 year warranty. It's a 5 year service package, called TLC - and it is applicable across Europe. The conditions that cover TLC are available on the MINI Website, but basically for 250 Euro, it covers the costs of Servicing for 5 years, or 50k Miles, whichever happens first.

Owen

sillysocks wrote:

One of the dilemas is that there is also an 06 version with TLC pack,10kmiles.... some friends went into the dealer later today and got him down to 21,975 on that one (so only a 2k diff), so my head is telling me that that is better deal but don't think finances will strech the extra 2k!

And you'll get an 07 MINI One for 22, 200 OTR, so why buy a 06?

sillysocks

ned78 wrote:

And you'll get an 07 MINI One for 22, 200 OTR, so why buy a 06?

That wouldn't include any servicing options or the pepper pack though would it? I'm kinda stuck money wise.... actually had no intetion of buying a new car this time a few days ago! With those extras onto the 22,200 it'd def be over the budget I have. What warranty comes with a new MINI ?

Owen

sillysocks wrote:

That wouldn't include any servicing options or the pepper pack though would it?

The contents of the Pepper Pack on the old car are almost all there as standard on the new car. You'd need Alloys, and Fogs to complete it. The service package is 250 Euro.

sillysocks wrote:

What warranty comes with a new MINI ?

2 year's unlimited mileage european wide warranty, 3 year's roadside assistance, again european wide.

sillysocks

Took this to PM with Ned78. Still not sure what I'll do (new or not new that is the question!), no doubt the salesman from today will be onto me Monday trying to get his sale but will see what happens with it all over next few days!

bennyx_o

I'll hopefully be buying a Cooper S in the next few weeks, and have been offered no discount. I'll be trading in and I'm getting a good price for mine so I suppose I can't complain. Considering they hold their value remarkably well, I see why discounts aren't that big.

Anan1

Am I missing something here? Why in the world would anyone pay €20k for a 3 year old car when they could have a brand new one for €23k?

sillysocks

Anan1 wrote:

Am I missing something here? Why in the world would anyone pay €20k for a 3 year old car when they could have a brand new one for €23k?

Yeah I know , I know

Well as far as I know the 23k one is a 1.4 engine rather than 1.6 so thats prob the main difference. Thats not a big issue for me though-1.4 woudl maybe even suit better.

I didnt' realise that the base price of 23k included most of the extras that were on the 2004 one anyway. I thought that it was 23k plus all the extras so was thinking that'd be 25 or 26k with those and I just didn't have that much to spend (don't really even have 23k either but sure we'll see what I can do!)

Doc Farrell

nice cars but massively overpriced. so if 575 euro isnt the dealers final offer, what is? walking in with 19,500 in your pocket sounds like good advice. be flexible with 200 euro difference.

i still think they're 3 grand overpriced but they do seem to hold their crazy value.

unkel

ned78 wrote:

they're a low margin, no discount brand

LOL, go away out of that

Margins on new MINIs, especially with a good few options ticked, are truly wonderful

You're right though on the demand factor. Why offer a discount if you don't need to, to sell cars? Demand for the new MINI is stellar, and rightly so as it is even better than its predecessor

Depreciation remains about the lowest you can get this side of Ferraris

Owen

unkel wrote:

LOL, go away out of that

Margins on new MINIs, especially with a good few options ticked, are truly wonderful

Funnily enough Unkel, as you well know, I make a living from MINIs, and margins are nowhere near what you people would think they are. Profit on a 30k MINI after a trade in has landed on, is quite small indeed.

Owen

sillysocks wrote:

Well as far as I know the 23k one is a 1.4 engine rather than 1.6 so thats prob the main difference. Thats not a big issue for me though-1.4 woudl maybe even suit better.

What no one seems to realise, is that this new 1.4 One, is more powerful, and lighter than the used 1.6 you're looking at.

sillysocks

ned78 wrote:

What no one seems to realise, is that this new 1.4 One, is more powerful, and lighter than the used 1.6 you're looking at.

Well I didn't overly need a 1.6 enginge anyway-as I said if I'm going second hand I'll only be getting that cause there was no 1.4......

Sure if go new I'd be saving msyelf money on tax and insurance, eh

Anan1

sillysocks wrote:

Sure if go new I'd be saving msyelf money on tax and insurance, eh

Maintenance, too. Any car will start to cost money as it gets older, buy new and you're putting that day off for an extra three years.