[happihana]

wow.. i was considering about purchasing a used one.. for AROUND $15,000..
i thought it was quiet possible because if i was to get 2002 mini with around 30,000 miles.. but boy i was wrong.. their so expensive! i rather purchase new one without any options.. whew any suggestions?

 

[flav]

as long as there is a wait for new minis at the dealership the used ones will be expensive. also once there are new minis on the lots, leases start to end, and new more drastic revisions (new engine for example) come out then prices will start to go down. until then prices will be high. i sold my first mini for more than i paid for it. i plan on keeping my current mini at least until some new engines come out.

 

[CooperS4us]

Laws of supply and demand....

The MINI is still a hot "Gotta have car" that is being imported in limited quantities to the USA (Around 25K-30K cars a year), still sells at MSRP sticker price and still has long waiting lists in some parts of the country.

Make no mistake, the MINI is an exclusive commodity in despite of its seemingly "modest" price.

The MINI has one of the highest resale values in the industry. 3 year residual values are projected at around 65% off original MSRP and 5 year residuals at an incredible 51% off MSRP!.

Keep in mind that most cars in MINI's price bracket are typically within 35% off original MSRP after 5 years of service.

 

[CooperS4us]

as long as there is a wait for new minis at the dealership the used ones will be expensive. also once there are new minis on the lots, leases start to end, and new more drastic revisions (new engine for example) come out then prices will start to go down. until then prices will be high. i sold my first mini for more than i paid for it. i plan on keeping my current mini at least until some new engines come out.

I also want to wait for the upcoming R56 generation which should be introduced around September 2006 as a '07 model.

 

[EefsJ_JArc]

I'm in the same situation, I was looking at the used Mini market in hopes of maybe getting a deal that would let me afford the payments and the insurance payments but when I saw that the value was not going down on even the oldest models I started to get your same opinion, that it would be better to buy new with minimal options.... But then again as you all know it's hard to find an automatic that's used and available. I can drive a stick but I just prefer the automatic for some reason.

 

[ScottyB]

wow.. i was considering about purchasing a used one.. for AROUND $15,000..
i thought it was quiet possible because if i was to get 2002 mini with around 30,000 miles.. but boy i was wrong.. their so expensive! i rather purchase new one without any options.. whew any suggestions?

Originally looked at the used market myself.

<---- opted for new S with no options

 

[EBMCS03]

i sold my first mini for more than i paid for it.

Oh ya!??! Anyone what to buy mine?? 10K miles 2003 perfect condition.

 

[virtualmini]

Waiting for new engines in '07 MINI's

Flav,

You mentioned you might wait until the new engines come out in the '07 MINI's before purchasing your next MINI. What advantages do you anticipate seeing in the '07 MINI's? I am curious because I am trying to decide whether to purchase a MINI next year, or to wait a couple more years until my daughter starts to drive. An extra car in the family will make more sense once we have an extra driver in the family.....but I don't know if I can stand to wait that long!!! How many other people out there prefer to wait for the '07 models??

Thanks!

 

[Rick]

hi VirtualMini and welcome to Mini2

Have a look in the search forums and 'future varients' there is a new model coming out on the engine but the current engine is just fine and do you really want to hang around until 2007 to start enjoying Minis?

 

[CooperS4us]

I'm in the same situation, I was looking at the used Mini market in hopes of maybe getting a deal that would let me afford the payments and the insurance payments but when I saw that the value was not going down on even the oldest models I started to get your same opinion, that it would be better to buy new with minimal options.... But then again as you all know it's hard to find an automatic that's used and available. I can drive a stick but I just prefer the automatic for some reason.

I would sell you my wife's '02 Cooper CVT with 25K troublefree miles. It is Pepper White with black top. (You can look at it in my gallery)

 

[euan]

Waiting 6 months for a mini was bad enough. 3 years would have killed me.

I sold my first mini for well within what i was expecting, and when I was looking at changing recently the cash offered was still really good. So even if you bought one now, you could trade it in three years and get another one and you would likely still be in pocket. And have had the joy of a MINI for three years.

 

[flav]

virtual mini,
don't get me wrong, the engines on the current minis are great. and like i said i "might" trade up when the 2007 come out. but thats depands on what changes there are. not all change is good. if i were you i would buy now. no reason not to. i did.

 

[WhiteNoiseMaker]

It always makes me laugh when people talk about the trade-in/re-sale value being so good on the Mini. I too looked at buying a used mini but paying a little extra i could get a new one so i went down that road.

I see so many people do the same thing, it just makes me wonder why the resale value is so high when just about everyone that goes looking for used buys a new mini, so who the hell buys the used ones when the price is so high???

You'd think they'd have to drop the price just to sell them, with everyone buying a new mini

 

[tnoy66]

so who the hell buys the used ones when the price is so high???

I guess those that buy them used don't want to sit waiting for months......hurry up Feb

 

[StartTday]

Why I bought mine used...

I got a great deal on a used 03 MCS.
It took me two weeks to get the dealer to bring the price down but it was well worth it.

The car has all three packages on it and only had 24K miles. I bought it a couple months ago.

When I first saw it, it was stickered at $25K. I went in and test drove it. The manager who I spoke with was a total ass. I told him I wasnt going to pay $25K for a used mini. So I walked out. Two weeks later the car was still on the lot the and I had the been the only person to test drive it. This time, he dropped it to $24,500. Drove it again this time the same manager came out, I told him I wanted the car for $20K, he laughed (which I expected) but then he asked, "So are you going to buy the car or not?" And I said, "not from you..." and I got up and walked out.

Very next morning, I got a call at 830AM from another salesman at the dealership. They quoted me at $21500. As soon as I got there, I said I would only take the car if they included tax titles and fees. The guys were ****ed. But i got the car for the price I wanted $21500 including tax titles and fees. Took me two weeks but I got it.

I was going to buy a brand new one but I couldnt stay within my budget with the options I wanted.

 

[ImaVunDerBrah]

StartTday - very similar situation just happened to me.

I bought a used 2003 Cooper on Monday - CR/B, all 3 packages, 17K miles

First saw the car over the weekend and went for a test drive. We sat down with the dealer and said "we don't negotaiate, what is your absolute bottom price". He quoted the price that was listed on the car, so we got up. He starts trying to negotiate. Sorry buddy, asked for your absolute bottom price, you said that was it.. so we're outta here.

As planned, he called back and we offered $2K less than the listed price. He said that was absurd, they would take a loss on the car, wasn't worth the money, didn't know what we were talking about etc. etc. etc. .... then he went for it. I don't think we got a phenomenal deal, but I do think it was a good, very fair deal and I'm happy with it. The dealer on the other hand was forced to go nearly $4K below their original listed price.

I agree. The second hand market is really tough for MINIs right now. I was looking at listings where people/dealers were asking the equivalent of MSRP on a 2005 MCS for a USED 2003 Cooper. I ordered and waited for my first MINI and I'll do it again for the next one. Unfortuantely, the Cooper I just bought was a replacement for my first which was totalled, so I didn't have the luxury of speccing a brand new one

Best of luck to everyone trying to find a used MINI. They're out there... its just a matter of finding them!

 

[happihana]

When I first saw it, it was stickered at $25K. I went in and test drove it. The manager who I spoke with was a total ass. I told him I wasnt going to pay $25K for a used mini. So I walked out. Two weeks later the car was still on the lot the and I had the been the only person to test drive it. This time, he dropped it to $24,500. Drove it again this time the same manager came out, I told him I wanted the car for $20K, he laughed (which I expected) but then he asked, "So are you going to buy the car or not?" And I said, "not from you..." and I got up and walked out.

Very next morning, I got a call at 830AM from another salesman at the dealership. They quoted me at $21500. As soon as I got there, I said I would only take the car if they included tax titles and fees. The guys were ****ed. But i got the car for the price I wanted $21500 including tax titles and fees. Took me two weeks but I got it.

I was going to buy a brand new one but I couldnt stay within my budget with the options I wanted.

wow nice going! geez.. im so proud of u! i wish i can do that..

 

[EBMCS03]

I got a great deal on a used 03 MCS.
It took me two weeks to get the dealer to bring the price down but it was well worth it.

The car has all three packages on it and only had 24K miles. I bought it a couple months ago.

When I first saw it, it was stickered at $25K. I went in and test drove it. The manager who I spoke with was a total ass. I told him I wasnt going to pay $25K for a used mini. So I walked out. Two weeks later the car was still on the lot the and I had the been the only person to test drive it. This time, he dropped it to $24,500. Drove it again this time the same manager came out, I told him I wanted the car for $20K, he laughed (which I expected) but then he asked, "So are you going to buy the car or not?" And I said, "not from you..." and I got up and walked out.

Very next morning, I got a call at 830AM from another salesman at the dealership. They quoted me at $21500. As soon as I got there, I said I would only take the car if they included tax titles and fees. The guys were ****ed. But i got the car for the price I wanted $21500 including tax titles and fees. Took me two weeks but I got it.

I was going to buy a brand new one but I couldnt stay within my budget with the options I wanted.

WOW you managed to get it down that much! Amazing!

 

[Cooper76]

StartTday - very similar situation just happened to me.

I bought a used 2003 Cooper on Monday - CR/B, all 3 packages, 17K miles

First saw the car over the weekend and went for a test drive. We sat down with the dealer and said "we don't negotaiate, what is your absolute bottom price". He quoted the price that was listed on the car, so we got up. He starts trying to negotiate. Sorry buddy, asked for your absolute bottom price, you said that was it.. so we're outta here.

As planned, he called back and we offered $2K less than the listed price. He said that was absurd, they would take a loss on the car, wasn't worth the money, didn't know what we were talking about etc. etc. etc. .... then he went for it. I don't think we got a phenomenal deal, but I do think it was a good, very fair deal and I'm happy with it. The dealer on the other hand was forced to go nearly $4K below their original listed price.

I agree. The second hand market is really tough for MINIs right now. I was looking at listings where people/dealers were asking the equivalent of MSRP on a 2005 MCS for a USED 2003 Cooper. I ordered and waited for my first MINI and I'll do it again for the next one. Unfortuantely, the Cooper I just bought was a replacement for my first which was totalled, so I didn't have the luxury of speccing a brand new one

Best of luck to everyone trying to find a used MINI. They're out there... its just a matter of finding them!

Was this at MotorCityMINI???

 

[ImaVunDerBrah]

Was this at MotorCityMINI???

Nope. Non MINI dealership in Ohio. Motor City MINI knows MINIs.. they wouldn't have let the above happen.

Can I assume from your question that you're having/have had Motor City MINI issues?