I want a Mini Cooper. How much of an “emergency car fund” do I need? - MINI Cooper Forum

Finance & Insurance Use this forum to discuss financing and insuring your MINI

 3Likes
  • 1 Post By Lincon
  • 1 Post By Scudder
  • 1 Post By Satansfist
 
LinkBack Thread Tools Rate Thread
post #1 of 10 (permalink) Old May 13th, 2019, 06:15 AM Thread Starter
MINI2 Newbie
 
Join Date: Apr 2019
Local Time: 08:31 AM
Posts: 17
Mentioned: 0 Post(s)
Quoted: 3 Post(s)

 
I want a Mini Cooper. How much of an “emergency car fund” do I need?

Hello everyone,,
I know this is a bad financial decision. I know I should suck it up and buy a Civic or a Camry. That being said, I have a solid emergency fund, no debt, and am choosing to live with roommates. A Mini Cooper checks all my “dream car” boxes and is really the car that I want. Additionally, I know many people with Mini Coopers and none of them have horror stories.

I know that repairs will be frequent and expensive. How much additional emergency money should I have on hand? Is half of what I pay for the showbox.bio/ tutuapp.uno/ vidmate.vet/ car reasonable? I’m looking to spend around $10k to buy and $5k almost doesn’t seem like enough to have on hand. Would leasing maybe me a not awful idea? Lease has always been a four letter word to me, but we’re taking about an extremely high maintenance vehicle and I’m not sure I’d want to deal with it for more than three years.

For what it’s worth, I’m looking at a Clubman with a manual transmission, probably from the 2010-2015 range if I buy. Unless there’s something wrong with the cars produced in that time span...

drivingjoy likes this.

Last edited by Lincon; May 13th, 2019 at 06:28 PM.
Lincon is offline  
Sponsored Links
Advertisement
 
post #2 of 10 (permalink) Old May 13th, 2019, 08:49 AM
MINI2 Master
 
Join Date: Apr 2017
Location: down west somewhere
Local Time: 08:31 AM
Posts: 4,225
Mentioned: 18 Post(s)
Quoted: 663 Post(s)

United Kingdom Male
 
they are not that bad its just people believe that bying a car with 100.000 miles and never had no spent on them that they should be as good as a brand new car,, it needs perspective ie cars are designed to last around 80-100k and 6-8 years so cars with under 50k and under 5 years old will be a lot less hassle than a 8 year old 100k car,, but you can buy a 100k car a lot less than a 50k car,, thats the cross roads point to buy as new and as low mileage car that will have so much less ware on it, or buy a more miles and do a massive service or all the known to be worn out parts at higher mileages.. ie refurb turbo. timing chain kit. clutch. and bushes and joints around the suspension when they give up,, this above is no different to just about every EU car on the road it would seem. trouble with forums is everyone that visits has a problem with said car but if everyone who owned a mini had same problems al the time then forums would be over loaded,, so things sound more like its a big issue and the cars are rubbish and thats not the case,,
ie someone comes on forum says they are at wits end this car i have replaced everything on it its just trouble,, but when break this down this person has not diagnosed the problem they have spent 2 months throwing parts at it to try and hit the real issue and totally dont understand there is a process that must always be done when finding faults on any car,, but in this persons its the car its rubbish its the work or evil dont ever own one,,, when reality is if this guy had bought a diagnostic that works correctly on that car and has a open mind to find the issue he would of found it in a hour or two and only replaced what was needed ..
this all said what they need and its age mileage and how well loved before all have a bearing on it,,
oil level always on full mark is number one thing if view a car and oil level when cold is more than half way down to low mark. not good, timing chains wear out they stretch so n18 engines are slightly better as long tensioner updated but same chain used so still stretch, 60-70k chain kit, learn to fit one your self and costs are not much money £100-£200 in parts and morning work, this is its main issue keep this right and oil changes 8k and level always on full or 3mm above is best way, let engine cool down after same as let warm up for 5 minutes before driving off, the turbos need this love, also 100k turbo will be fairly worn out and as will 02 sensors and the cat but all can be bought fairly cheap from ebay sellers , people dont realise on all cars these items have a life span before causing issues its not the cars fault and every car on the orad uses them,
if were me i would buy the newest and lowest mileage car you can find also the cooper s is by far the best one to live with plenty of power and holds its value well,, would treat the later n47 diesel engine like a dose of the clap and stay away from it ie timing chain and dpf and flywheel all wear out 70-100k more time than not and massive bills,
most cars brand new give very small problems all cars once out of warranty will do one day its just common sense


Albert Einstein: The definition of insanity is doing the same thing over and over and expecting different results.
mike1967 is online now  
post #3 of 10 (permalink) Old May 13th, 2019, 09:54 AM
MINI2 Regular
 
Join Date: Nov 2015
Location: Malaga
Local Time: 08:31 AM
Posts: 281
Mentioned: 0 Post(s)
Quoted: 51 Post(s)

Spain Male
 
A few hundred dollars will get you some nice tools, jack, stands and a Haynes manual to read. Parts are usually reasonably priced, just your time and labour. As Mike says, never use guesswork to diagnose a fault, get a code reader suitable for BMW model. If no workshop/garage at your place you can always rent space in a workshop if there is one nearby for the larger jobs/ramp work. Make friends with someone with a garage/workshop :-) Almost every maintenance job possible is already covered on Youtube for Gen 1 and 2 cars.
mike1967 likes this.

Cooper 2009, R57.
Scudder is offline  
 
post #4 of 10 (permalink) Old May 13th, 2019, 09:58 AM
knt
MINI2 Regular
 
Join Date: Sep 2018
Local Time: 08:31 AM
Posts: 270
Mentioned: 0 Post(s)
Quoted: 52 Post(s)

 
If your budget can stretch to 3rd generation 2016+ 2.0l petrol engines then look for those.

If you're looking for 1st or 2nd generation then have additional money to repair whatever costs the most to repair/replace ie engine, chargers and transmission.
knt is offline  
post #5 of 10 (permalink) Old May 13th, 2019, 01:59 PM
MINI2 Master
 
Join Date: Apr 2017
Location: down west somewhere
Local Time: 08:31 AM
Posts: 4,225
Mentioned: 18 Post(s)
Quoted: 663 Post(s)

United Kingdom Male
 
i see any car i own from the off that with 70.000 miles on it from the off the last owners have used up the consumables , ie clutch suspension dmf timing chains or belts and many of the sensors so any mileages past those is all bonus miles, just bought a outlander type vehicle with 70k on it and i know the dpf filter is coming soon as is the additive and clutch and flywheel is on borrowed time as is a lot of the bushes and odds and sods, the turbo's on it is electronic actuator type ecu control no vac control on it so much more money than the earlier ones,, trouble is something that we all know will break at some point will have collateral damage to other things, ie timing belt and chains and water pumps destroy engines, so attitude of dont fix until it breaks dont always work with that, same as a simple thing like a glow plug not working this will cause the ecu to stop regen on dpf filter then it blocks this kills off a 100k turbo for a past time engine goes in to diesel runaway engine of engine, all because of a £10 glow plug,, i've already done the timing belt and water pump on mine first few days of owning it as i know it had never been done, makers say 125k,, hmmm not seen to many make that mileage belfre water pump bearing craps its self and takes out the motor,
a car with under 10k on it 12 months old is a lot of money, 8 year old car with 70k on it needs £1000 in parts to deal with worn out parts that can fail that do bigger damages . in a perfect world on my cars i try and do all bushes as makes them drive like new, then look out for good deals on other stuff like turbo's and clutches..

Albert Einstein: The definition of insanity is doing the same thing over and over and expecting different results.
mike1967 is online now  
post #6 of 10 (permalink) Old May 14th, 2019, 04:09 AM
MINI2 Newbie
 
Satansfist's Avatar
 
Join Date: Apr 2019
Local Time: 06:01 PM
Posts: 19
Mentioned: 0 Post(s)
Quoted: 12 Post(s)

 
Garage
Quote:
Originally Posted by mike1967 View Post
... trouble with forums is everyone that visits has a problem with said car but if everyone who owned a mini had same problems al the time then forums would be over loaded,, so things sound more like its a big issue and the cars are rubbish and thats not the case...
Exactly this: people do a lot of "research" for their car via forums, but forums tend to be a micrcosm of others looking for solutions to their own problem, which gives a false impression of the vehicle in question.

I've not once had any issues with the 12 Ducatis I've bought, but if you were to go by the content of Ducati forums you'd think they were all hand grenades about to go off and cost an arm and leg to keep on the road.
Satansfist is offline  
post #7 of 10 (permalink) Old May 14th, 2019, 06:04 AM
MINI2 Master
 
Join Date: Apr 2017
Location: down west somewhere
Local Time: 08:31 AM
Posts: 4,225
Mentioned: 18 Post(s)
Quoted: 663 Post(s)

United Kingdom Male
 
Quote:
Originally Posted by Satansfist View Post
Exactly this: people do a lot of "research" for their car via forums, but forums tend to be a micrcosm of others looking for solutions to their own problem, which gives a false impression of the vehicle in question.

I've not once had any issues with the 12 Ducatis I've bought, but if you were to go by the content of Ducati forums you'd think they were all hand grenades about to go off and cost an arm and leg to keep on the road.
this said i would say the bmw n47 diesels are that bad are the worse design engine i have ever had the misfortune to either own or repair and i have repaired a lot of them... most stupid idea for the owner to mount the timing chain at rear of engine so its engine out or gearbox out added to a very expensive kit and locking kit to replace it, looking at a £1500-£2000 for a chain replacement every 70-100k to be on safe side as most dont make it much past the 100k especially if follow the 20k service or 24 months times. and if chain slips as many do as the rattle noises you get first could be blamed on the dmf that also wont do much past 100k,, then the dpf filter that should be changed at 75k otherwise it loads the oil with carbon and unburnt diesels from failed regens, dmf clutch £800-£1500. dpf £800 turbo's have a 89k-120k life span all these things tend to happen around the 100k at best,,
love ducati's back in late 90s had a few 748, 916, even had a hailwood rep i rebuilt years ago. they were good, i have had loads of alfa's over the years and yes some were trouble but hayho.

Albert Einstein: The definition of insanity is doing the same thing over and over and expecting different results.
mike1967 is online now  
post #8 of 10 (permalink) Old May 15th, 2019, 06:42 AM
MINI2 Newbie
 
Satansfist's Avatar
 
Join Date: Apr 2019
Local Time: 06:01 PM
Posts: 19
Mentioned: 0 Post(s)
Quoted: 12 Post(s)

 
Garage
Quote:
Originally Posted by mike1967 View Post
...love ducati's back in late 90s had a few 748, 916, even had a hailwood rep i rebuilt years ago. they were good, i have had loads of alfa's over the years and yes some were trouble but hayho.
I even had a '76 SS, no problem what-so-ever, two '82 SD Darmahs, loose ignition wire in the dash of the first one but again, never a problem. All the newer ones not a peep, yet the forums are full of horror stories and tales of incompetent dealerships. I'm sure all true but just not my experience of the brand.

Untitled by satansfist, on Flickr
mike1967 likes this.

Last edited by Satansfist; May 21st, 2019 at 06:51 AM.
Satansfist is offline  
post #9 of 10 (permalink) Old May 15th, 2019, 02:45 PM
MINI2 Master
 
Join Date: Apr 2017
Location: down west somewhere
Local Time: 08:31 AM
Posts: 4,225
Mentioned: 18 Post(s)
Quoted: 663 Post(s)

United Kingdom Male
 
Quote:
Originally Posted by Satansfist View Post
I even had a '76 SS, no problem what-so-ever, two '82 SD Darmahs, loose ignition wire in the dash of the first one but again, never a problem. All the newer ones not a peep, yet the forums are full of horror stories and tales of incompetent dealerships. I'm sure all true but just not my experience of the brand.
trouble is dealerships these days tend to be part replacement services ie car goes in diagnostic plug in software says replace starter they replace it,, this works well when its a fairly new car where the warranty wears the costs.. trouble is when cars get over 4 years old main dealers just wish they were all crushed and people buy new ones or pay the price where a garage that has a open door any car age and make they will repair and have young and old techs working for them dealing with the customer directly when needed its so much better, also private garage cant afford to be wrong so their techs have a more broad training over all brands, where main agents more so towards what their latest offerings are for sale,, also main agents tend to have trained one person say on one type of tech and another on another type of tech ie specialist in a ideal world these people would only work on those types of faults, but in real world t gets shared around a bit,, the trouble with the prince engines is that timing chain stretch causes so many other issues that could be taken wrongly and thats the struggle with them, and people replace all kinds to fix it, everytime they fix one part and say try it for a few days to find its not fixed, until finally someone does the job they should of done very first,,, compression test, oil pressure test. check timing, would of saved all those trips to garage and one visit that would of been taken as not so much hassle i guess.
i was always taught measure twice cut once, or check twice and do the same process that works from the very first point of trying to find whats wrong,, ie must know the basics are correct and not every fall in to a trap of its only done 20.000 miles it could not be a stretch chain causing this,, its can when low engine oil as been allowed,
cars is past 15 years have stepped up to a level on complication and emissions based ecu controlled stuff getting harder and harder to keep up with what fails and when really is Russian roulette

Albert Einstein: The definition of insanity is doing the same thing over and over and expecting different results.
mike1967 is online now  
post #10 of 10 (permalink) Old Jun 9th, 2019, 01:38 PM
MINI2 Newbie
 
Join Date: Jun 2019
Local Time: 08:31 AM
Posts: 1
Mentioned: 0 Post(s)
Quoted: 0 Post(s)

 
Quote:
Originally Posted by Lincon View Post
Hello everyone,,
I know this is a bad financial decision. I know I should suck it up and buy a Civic or a Camry. That being said, I have a solid emergency fund, no debt, and am choosing to live with roommates. A Mini Cooper checks all my “dream car” boxes and is really the car that I want. Additionally, I know many people with Mini Coopers and none of them have horror stories.

I know that repairs will be frequent and expensive. How much additional emergency money should I have on hand? Is half of what I pay for the car reasonable? I’m looking to spend around $10k to buy and $5k almost doesn’t seem like enough to have on hand. Would leasing maybe me a not awful idea? Lease has always been a four letter word to me, but we’re taking about an extremely high maintenance vehicle and I’m not sure I’d want to deal with it for more than three years.

For what it’s worth, I’m looking at a Clubman with a manual transmission, probably from the 2010-2015 range if I buy. Unless there’s something wrong with the cars produced in that time span...
If you buy a 2010 you need a $5-6,000 emergency fund at a minimum. If you buy a 2011+ then $3,000 should be OK.

2007-2010 MINIs can be absolute nightmares, among the highest maintenance and least reliable cars you can buy. The upside is that they are a TON of fun to drive, but really stick to a 2011+ at a minimum.

A big thing to watch for is an oil leak at the volume control solenoid on the back of the engine, this can cause the engine wiring harness, and in extreme cases, the ECU to need replacement.

But the 2011+ cars are, while still unreliable and expensive to own, FAR better than the 07-10s ESPECIALLY the 07-10 Turbos.

lovelash is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the MINI Cooper Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Rate This Thread
Rate This Thread:



Similar Threads
Thread Thread Starter Forum Replies Last Post
Help fund my mini project and start a business... please read :) Jonny-english General Discussion 1 Jan 18th, 2018 03:50 PM
Thinking of buying a mini and trying to fund it LotsC Finance & Insurance 11 Aug 24th, 2014 01:00 AM
What do you guys do for a living to fund your S? Shockwave_Factory First Generation MINI Cooper S 56 Oct 31st, 2003 02:38 PM

Posting Rules  
You may post new threads
You may 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

 
For the best viewing experience please update your browser to Google Chrome