Yes, this is a self-serving question, but I hereby apply to the collective wisdom of many Mini owners. I *might* buy a new car, which would require me selling my heavily modified 2005 R53 (it was the first Car of the Month on Motoring Alliance). I've always felt that modified cars are very difficult to sell, and certainly no where near at a price that reflects what was spent on them. So, my car has 33000 miles on it, just out of warranty, and as you all know, nearly every system has been modified. I wouldn't bother removing anything from it (like the Sparcos, for example), but reverting to anything like stock would be impossible--I'd have to sell it as is. Stock '05 MCS seem to sell for *around* $15,000, so would you think my car is worth more, or less, than that? No Carfax, no accidents, but how do you prove that with such a modified car? Anyway, any thoughts appreciated. At the moment, I'm thinking of seeing if I can keep it as a track day car...
If the right buyer were to come up I'd think you could possibly get as much as 33% more for your car given it's tastefully and properly done. However to the average car buyer your car is a confusing and evil thing and if your upgrades aren't to their taste they will hurt the resale value. I agree you should sell it as is, maybe put it on Ebay with a reserve around the $15K average price you've observed and see what the market does.
To the right person the mods are worth something. However you have to decide how long you want to wait for that person to find the car. To maximize the potential sale price post it all over the place in an effort to attract a buyer. I realize you want to sell as is but it would be remiss not to mention the value can be enhanced by selling off the parts and going back to as close to stock as possible. As to the value of the mods...that is hard to quantify. I'd try listing it for 19,995 and see if there are any bites. It does have low miles, it is owned by a professional type person and not a teen. These types of things do help to increase the value.
THE WORLD IS ENDING! Selling your car? What possibly could have seduced you away? Enquiring minds want to know.... And selling modded cars is a crap-shoot plain and simple. The more you unbolt the more money you will make. The stock parts (lots of them) are very cheap, and you get to sell the mods for some serious $$$. It takes time but that will maximize your return. Matt
With the monstrosity of mods and scary stuff you've added. That car's worth five grand, tops. I'm such a generous guy, I'll give you seven for it. :ihih:
Well, I'm looking at an '06 Porsche Cayman S and it would be easier to get if I sold my Mini. I think $15000 is prolly about what the Mini is worth to someone who wants it. I really appreciate the comments and advice. Undoing many of the mods would be possible, but some would have to stay (battery relocation, eg.) Boy, it would be a whole heck of a lot of work, that's my problem. And what would be the incentive to work on my Mini if I could be driving the Porsche? Ah, maybe I should just forggedaboudit... I prolly wouldn't like those Cayman people half as much as I like you Mini guys!
Ya know Doc, that Cayman will need a Motorsport Oil Separator, $500 part and 12 hour shop time. Tires are 2x as expensive and rears get eaten quickly with track use. Then again, if I could afford one...yeah...I would buy.
Thanks Nathan. I can also use some reasons not to get the Porsche. smile5:really) I guess it's every car-guy's dream to own a Porsche one day. Maybe owning one for one day is all that's necessary... I'm pretty sure that buying the car is the least of my expenses down the road. Of course, I actually intended to modify the Mini when I bought it, so all the expense has been expected and welcomed. I wish I could keep the Mini and get the Porsche, but that would just be plain excessive...
Fixed it for you. And why not keep the MINI as a daily car (I assume it currently is) and try and grab up an older 911 for a weekend fun car? Actually, seeing that an 06 Cayman S goes for between 32 and 36K and you're looking at maybe 15K for the MINI I'd certainly be looking at cars in the $20K range. I doubt a 993 is down there yet (and may never get there) but a 930 and some 964 models are in that price range, they're not as fast but it's still a Porsche and still gives you that thrill.
I know two people in the MetroplexMINI club that both a 1st gen MINI and a Cayman. For one of them the MINI is now a dedicated track car. The other has never been to or has a desire to take either on track. Cayman's are a hoot, exp the S. As a track car they need a bit of work. There is the oiling issue I alluded too. Have no idea of how much research you have done to this point. I'd give Rennlist a a good look over Porsche | 911 928 993 996 | Owners, Research, DIY, For Sale - Rennlist.com Also check out your local PCA chapter and see what they have to say as they will know the local tracks better. I'm just guessing that the Cayman will be asked to pull same double duty as the MINI, both daily driver and occasional DE tool. I can tell you from experience that a Cayman is not much faster around a tight course than a MINI. But then again, there is nothing like a mid-engined car when playing on track too... It's not an easy decision, I'd be torn...
Gee, I knew you guys would help me out with this. Thanks so much--a few more things to think about, but maybe I'll be more focused as I cogitate the options!
I had a 944 I had it for 6 tanks of gas and sold it to someone who paid me exactly what I'd bought it for! There's some merit to your thoughts.... And yeah, it was a beater and got sneered at by the 911 crowd. But then again, anything that isn't a 911 gets the same treatment! Matt
For those who remember SpiderX on NAM, I am the guy in California who bought his highly modified 02 DS/B MCS last year. It had an RMW BVH, Schrick Cam, newish ported M45 S/C, custom header, Milltek Catback, m7 DFIC, JCW injectors and RMW Tune (231 Whp). Plus m7 Coilovers, H Sport camber plates and both front and rear sway bars, AP Racing BBK, real nice BBS wheels and Toyo T1-R tires. BUT....it also had 80K miles on it - he said it was never tracked. He started asking 20K and there were nibbles but nobody that was not into MINI's could fully appreciate the mods. Well, I did. :smilewinkgrin: I ended up buying it for 17K and flew to Atlanta to pick it up and drive it back to California in April 2008. Since then, I have added Bosch 440 injectors, a Newman cam, RMW shorty header, RMW custom catback, a GP IC, Sparco seats and an RMW tune (251 Whp and 201 Wtq). Made the 130 MPH club at Bonneville easily last year with an average of 132.604 for the two runs. That's 1 mile from a standing start on salt, not as easy as it sounds. Going for the 150 MPH club (2 miles) next year, but have to add a 4 point Roll bar and get a Firesuit, wrist restraints, etc. Plus some more power probably with a Newman/RMW "race" cam and a Water/Meth system. I have tracked the car at Buttonwillow and Willow Springs and will do that again soon. But back to the OP's question, you CAN get more out of your modified MINI than you think, but you have to find that right buyer who understands the mods. No, I don't need another used MINI. :lol:
I agree that it may be worth more, but it will take longer to find the right buyer. I've been watching used MINI prices for years... Modded cars rarely sell for the hoped for price. It does happen, but it's rare... and usually takes awhile. One of the issues is financing. Banks generally don't want to lend more than a car's book value. Therefore, you need to find a buyer who has the cash to make up the difference or has the cash in hand to buy the car outright. This reduces the buyer-pool somewhat. Then you'll have potential buyers like me who work on their own cars and are not so interested in buying somebody else's mods, no matter how well done. Right now, the only modded MINI that has ever peaked my interest is that olive green car over on NAM... and partly because it's so cheap... of course, that cars salvage title is the main reason why it's so cheap... But despite that, the car would fill my wants/needs for a MINI: SMF auto-x'er, potential hill-climb racer and all-around track beater... a car I wouldn't mind so much if it got dinged up a bit. IMHO, keep the MINI and get an air-cooled 911 to feed the P-car itch.
Correction: It is every dentist's dream to own a Porsche. Real car guys dream of owning an Alfa. :smilewinkgrin:
Yea really? What happened? I never have dreamed about a Porsche.......Aston Martin....now thats a different story :lol: You can always do this for the day. My friends dad just did something like this in the Montery Bay area, and it was much more expensive than this one! :arf:.....http://www.google.com/url?sa=t&source=web&ct=res&cd=4&ved=0CBoQFjAD&url=http%3A%2F%2Fwww.dfwdriveyourdream.com%2F&rct=j&q=Exotic+cars+drive+day&ei=m0oXS5r9OoTSsQOZ08mZDg&usg=AFQjCNFA-aIPbAQJxxMoxWdX8buQu7KTeQ
WANT!! That will be my next purchase. As for resale on a modded MINI....I offered mine as-is for $26k and had no takers. I parted it out, sold it to Carmax for $19K and sold the mods for $14k (and that's with paying a shop to swap heads back). Same experience with my last Subaru....ALWAYS better return on parting out a car, if you have the time.
Is that the going rate for a 12 year old Porsche with 80k on it? $40,000? I regularly see CPO cars at my dealer that are 2-3 years old with low miles for $60-65k. What am I missing?