Resale value of high mileage Cooper - MINI Cooper Forum - MINI2 Mini Cooper Forums
Mini2.com Forum Header Mini2.com Forum Header
Go Back   MINI Cooper Forum - MINI2 Mini Cooper Forums > All Models & Variants > General Discussion

General Discussion Use this forum to discuss MINI topics which are not related to other forums. Posts may be moved from here to alternative forums by the moderators without notice

Please Visit our Site Sponsors
Mini2.com is the premier BMW Mini Forum on the internet. Registered Users do not see the above ads.
Reply
 
LinkBack Thread Tools Rate Thread
  #1 (permalink)  
Old Jun 28th, 2003, 09:25 AM
MINI2 Regular
Offline
 
Join Date: Apr 2002
Location: Home: Newport
Posts: 53
Local Time: 08:08 PM
Wales
Resale value of high mileage Cooper

Hi all,

I was wondering if you guys would care to give me your opinions.

The office I work in is planning on moving in the next 6 months. This will mean that I have a 100-110 mile round trip each day into work and back.

I'm wondering what this will do to the resale value of my MINI which I love! Goes without saying really Spec is below.

The car cost me £13k new and I'm planning on keeping it for 3 years, it's currently a year old and has done average mileage of 12K. When the office moves I'm going to be doing 24,000 miles a year +.

What do you think a reasonable figure for the resale value in 2 years time, 50% of original value?

Would be grateful to know your thoughts,

Taffster

Chilli Red with Black Roof/Mirrors, Manual Air con, ASC + T, Chrome Inlays, Front Fogs, Single CD with Boost, Sports Seats, TLC and space saver. ETA: Fourth Week July, 2002
Reply With Quote
Sponsored Links
Advertisement
 
  #2 (permalink)  
Old Jun 28th, 2003, 09:37 AM
dietcokeplease's Avatar
MINI2 Premium Member
Official MINI2 Fluffer
Offline
 
Join Date: Jul 2001
Location: Spearmint Rhino
Posts: 5,261
Local Time: 07:08 PM
England Male
Taffster,

It's very hard to predict the future without a crystal ball - factors such as the economy, level of supply of new MINIs and demand all vary.

Suffice to say that a lot of MINIs are bought as 2nd cars and therefore there are a lot of mint low mileage cars. If you trade in to a dealer, any dealer whether MINI or not, they will use the mileage to devalue your MINI and only offer a paltry amount. On your estimates by the time you sell the car it will have covered 60k+.

With a 110 mile round trip each day, maybe you should bite the bullet now and order a MINI Diesel. With a Cooper, you'll be filling up every 3 days. Or possibly a Golf TDI.

There is just one moon and one golden sun; And a smile mean friendship to ev'ryone; Through the mountains divide, and the oceans are wide; It's a small world after all.
Reply With Quote
  #3 (permalink)  
Old Jun 28th, 2003, 11:56 AM
Z1GZAG N's Avatar
MINI2 Master
Offline
 
Join Date: May 2003
Location: Hurricane Alley, FL
Posts: 1,431
Local Time: 02:08 PM
United States View Z1GZAG N's Electric Blue & White 1st Gen MINI Cooper S Profile
You got to figure a substantial amount less. At 110 miles a day x two years, even if you don't drive it much else, you easily talking over 60,000 miles. If you figure the average yearly mileage on the high side, the Mini would be 30,000 miles in two years. If a two year old Mini is worth let's say 12,000 US, I'd say you'd be lucky to get 10,000 and probably be closer to high 8s or low 9s. You have to think about what you would be willing to pay. Most people are going to be willing to pay the extra 2000 to get the lower mileage car.
Reply With Quote
Sponsored Links
Advertisement
 
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Similar Threads
Thread Thread Starter Forum Replies Last Post
Calling all high mileage Cooper CVT owners.... cooper4us First Generation CVT & Automatic 136 Mar 11th, 2011 05:46 AM
High mileage Cooper S - Opinions please! Step_7 General Discussion 21 Aug 26th, 2006 10:59 PM
high mileage S steve1968 First Generation MINI Cooper S 2 Sep 27th, 2004 05:20 PM
High mileage? NED General Discussion 10 Dec 18th, 2002 03:37 PM


All times are GMT. The time now is 07:08 PM.



Powered by vBulletin® Copyright ©2000 - 2012, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.3.2