Downgrading 2013 mini to older mini to release funds
Discussion
Im buying a house soon and have the deposit saved but need a bit extra to cover the stamp duty.
My Mini is a 2013 Cooper S coupe, and ideally I would like to swap it for an 07/08 plate Cooper S hatch for about half the value to release some funds as I will not be able to take a loan out when the mortgage application is going through.
Can anyone suggest a suitable place to do so ?
I went to my local Sytner garage at the weekend and they had an 08 Mini Cooper S hatch, but after the low trade in I would end up with only £2k in my pocket rather than the £5k I really need, so that was a no go.
My Mini is a 2013 Cooper S coupe, and ideally I would like to swap it for an 07/08 plate Cooper S hatch for about half the value to release some funds as I will not be able to take a loan out when the mortgage application is going through.
Can anyone suggest a suitable place to do so ?
I went to my local Sytner garage at the weekend and they had an 08 Mini Cooper S hatch, but after the low trade in I would end up with only £2k in my pocket rather than the £5k I really need, so that was a no go.
Edit : beaten to it 
As always, a private sale and private buy will yield the greatest savings. I cannot see another dealer offering a vastly (£3k) different deal.
Could you temporarily borrow the money (friends/ family) and then take out a loan once all the mortgage is sorted?
Would it be better to go bangernomics for a year or so?
I have a 2007 Cooper S - but unfortunately I don't want a swap
Would it be worthwhile offering a swap arrangement on ebay/ gumtree/ facebook groups?
As always, a private sale and private buy will yield the greatest savings. I cannot see another dealer offering a vastly (£3k) different deal.
Could you temporarily borrow the money (friends/ family) and then take out a loan once all the mortgage is sorted?
Would it be better to go bangernomics for a year or so?
I have a 2007 Cooper S - but unfortunately I don't want a swap
Would it be worthwhile offering a swap arrangement on ebay/ gumtree/ facebook groups?I hadn't thought about those options.
I wouldnt mind running a banger short term.
I have been offered the cash required from family to repay at later date which could mean I get a loan after the house has gone through. Ideally I would like no loan ever and not to borrow money if possible though.
I will have a look at offering a swap on the local facebook groups, not too sure how you can list on ebay in that way. I have put an autotrader up for 6 weeks for £11k, and have mentioned I would consider part exchange for 07/08 plate Cooper S hatchbacks, so maybe that will generate some interest.
I am worried that these Coupe's are not all that popular, although there aren't many about, meaning it might take some time to shift.
I wouldnt mind running a banger short term.
I have been offered the cash required from family to repay at later date which could mean I get a loan after the house has gone through. Ideally I would like no loan ever and not to borrow money if possible though.
I will have a look at offering a swap on the local facebook groups, not too sure how you can list on ebay in that way. I have put an autotrader up for 6 weeks for £11k, and have mentioned I would consider part exchange for 07/08 plate Cooper S hatchbacks, so maybe that will generate some interest.
I am worried that these Coupe's are not all that popular, although there aren't many about, meaning it might take some time to shift.
I'm guessing yours has the N18 engine. An 07 will have the earlier N14 engine which isn't as well liked. You're also going to be looking at higher miles.
Sometimes it's a false economy downgrading as you end up spending fortunes in maintenance etc.
I'd personally look at pocketing a few extra ££££'s and spending £4-5,000 on a low mileage R53 supercharged model (if you want a cooper s).
Sometimes it's a false economy downgrading as you end up spending fortunes in maintenance etc.
I'd personally look at pocketing a few extra ££££'s and spending £4-5,000 on a low mileage R53 supercharged model (if you want a cooper s).
So its been on AT now for 1.5 weeks and has had 129 views and no calls.
It was priced competitively and just yesterday I reduced it so that it is now the cheapest of that type.
If I still don't get calls on it what are my options?
Should I be paying more to list on other websites? I have already paid £60 to AT and looks like its not getting even a snifter of interest on there.
Panicking that I will be letting it go to wbac for £9500k. Its up for £10750 at the moment...
It was priced competitively and just yesterday I reduced it so that it is now the cheapest of that type.
If I still don't get calls on it what are my options?
Should I be paying more to list on other websites? I have already paid £60 to AT and looks like its not getting even a snifter of interest on there.
Panicking that I will be letting it go to wbac for £9500k. Its up for £10750 at the moment...
I Am Milk said:
I'm looking to sell my well loved and very well looked after R53 (few mods that make it spot on for fast road use) - looked after by 1320 for the almost three years I've owned it.
Drop me a PM if you want any more information on it.
My mini has just sold so I'm going to pm you! Drop me a PM if you want any more information on it.
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