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Discussion Starter #1
Hello everyone,

I am new to these forums, and this is my first posting. I have recently sold my Boxster and am now in the market for a replacement car. I loved pretty much everything about the Porsche, except for the sheer expense and the eye-watering depreciation (ie £10k in 15 months on a nearly-new car!). So this time I am looking for something with big fun-factor and handling, without the high insurance group, petrol consumption and depreciation. So I have decided to buy a used MINI! Probably an 04-05 model.

I am not looking at the Cooper S for the above reasons, so am interested in either a One or a Cooper. I also miss the cabrio element of the Boxster, so I am quite interested in a convertible MINI as well.

My situation is that I do not know how long I will be remaining in the UK so I need a car that I will be able to sell relatively easily and very little pain residual-wise. In general, is there any difference in popularity between the One and the Cooper and in particular is there anything I should avoid colour or accessory-wise? I think I read somewhere that the higher-spec ones were better for resale?

Also, from my experience with the Porsche, I discovered that the convertible models tended to get "stepped on" in terms of resale value at the end of the convertible season (ie October) and then would rise slightly in the spring (except this year of course due to the economy!). Is this something which happens with the MINI as well or is the depreciation fairly consistent?

Finally, it has been reported widely that second hand car values have been suffering lately - is this the case for MINI?

I would appreciate any advice on the above, it would be so helpful. I am just trying desperately to avoid another horrible depreciation trap!!!
 

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I bought my mini one new for 13k start of 2006 and part exchanged it for 10k in 2008 so only lost 3k in 2 years ( probably could have got a few hundred more privately) when you consider new cars basically lose the VAT on them as you drive them out the showroom thats only a depreciation of £725 + the tax. As for being easy to sell, well i sold it the day i decided to get a new car...

Also the fewer extras you buy the less you lose through depreciation but maybe makes it harder to sell
 

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I'm surprised at the Boxster. There was a time when it had the best residuals of any car on the road in the UK. Goes to show how even the mighty can fall?

As far as the MINI is concerned (a car which has held, and may still hold, that honour) there are a few pointers I can give you.

A Cooper Convertible will hold its value better than a One purely because it is more desirable. It will, of course, cost you more to buy in the first place though.

As far as specification goes, the only options that add to value (as opposed to just adding to desirability) are the PEPPER and CHILI Packs and Air Conditioning. As you don't intend keeping the car for long I think it would be a waste of money going for much else in the way of options.

The replacement for the current Convertible range is due to hit showrooms in under a year, which will undoubtedly have an effect on residuals of the current model so, combined with the length of time you intend to keep the car, my advice would be to look for a nearly-new/demonstrator model as opposed to brand new. This will save you money at both ends of your ownership.

As for the 'seasonal' values you are correct. The best time to buy is in the Winter, and the best time to sell the Spring/Summer. Sorry!
 

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I think MINIs are great at keeping there value!

I saw 2 minis 2001 with over 100.000miles on the clock selling for over £5500.

And the Mini won an award last year I think for the least depreciating car
 

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MINI stays top of the used car tree :-

http://www.mini2.com/forum/general-discussion/144435-mini-stays-top-used-car-tree.html

Ranking Model % of Original Cost New Price after 3 years, 60,000 miles.
1 MINI
54%
2 Audi TT 52%
3 Audi A5 51%
4 Range Rover Sport 50%
5 Mercedes Benz SLK 49%
6 Mercedes Benz C Class 49%
7 Audi A3 48%
8 BMW X5 47%
9 Volvo C30 47%
10 Land Rover Freelander 47%
11 Toyota RAV4 46%
12 Nissan 350Z 46%
13 Honda CRV 46%
14 Porsche Boxster 45%
15 Toyota Prius 45%
16 Audi Q7 45%
17 Mercedes Benz M Class 45%
18 BMW 3 Series Coupe & Convertible 45%
19 Audi Cabriolet 44%
20 BMW 1 series 44%
 

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Bought R56 last year for £24k

Phoned Mini Garage for Part-Ex value at the weekend, quoted £12k for the car...

Stu
 

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Discussion Starter #8
Thanks for the useful information - I should point out that I have no intention of buying a new Mini, or even used from a dealer for that matter. I have thrown more money down the drain buying from the "stealers" than I care to remember, and have no intention of wasting any more! My intention is to buy privately. I will start making some phone calls today and see what I can find.

Regards the Porsche residuals, yes I was surprised too. "Rock solid" residuals is how Parkers etc describe it. Not any more! However, even if it is low depreciation in terms of percentages, when you are talking a car worth £40k new, even low percentages add up to a lot of money. :frown: But at the moment, having studied the prestige car market a lot recently, anything which is considered to be a "luxury" car is simply being dumped on the market - there seem to be a lot of distress sales out there!
 

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Thanks for the useful information - I should point out that I have no intention of buying a new Mini, or even used from a dealer for that matter. I have thrown more money down the drain buying from the "stealers" than I care to remember, and have no intention of wasting any more! My intention is to buy privately. I will start making some phone calls today and see what I can find.

Regards the Porsche residuals, yes I was surprised too. "Rock solid" residuals is how Parkers etc describe it. Not any more! However, even if it is low depreciation in terms of percentages, when you are talking a car worth £40k new, even low percentages add up to a lot of money. :frown: But at the moment, having studied the prestige car market a lot recently, anything which is considered to be a "luxury" car is simply being dumped on the market - there seem to be a lot of distress sales out there!
Well if you are not buying from a dealer then don't get a convertible, too many issues with roof wear and breakage out of warranty, which leads to big repair bills;)

If you do change your mind, then make sure its not registered before August 05, as there was an update to the roof with regards to it latching in the down position, which did reduce the roof wear a little bit, I think that when that update took place anyway:confused:
 

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One other thing to note. Cars made after July 2004 (all 54 plate cars and later, and some late 04 plates) were the facelift models and are slightly more desirable. Better gearbox on the One and Cooper and more power and shorter gearing on the MCS.
If you buy a 54 plate Cooper privately for £8-9k I'd be very surprised if you lost as much as a grand a year in depreciation...
 

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Thanks for the useful information - I should point out that I have no intention of buying a new Mini, or even used from a dealer for that matter. I have thrown more money down the drain buying from the "stealers" than I care to remember, and have no intention of wasting any more! My intention is to buy privately. I will start making some phone calls today and see what I can find.
All information that could've proved useful in your original post! ;) :p
 

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Discussion Starter #13
Scroggs,

Sorry I thought I did mention it in my post (said I wanted an 04/05 model). Forgot about the non-dealer thing, sorry.

Anyway I think I found one I like, it's 54 reg with all the must-have kit that was mentioned above, so will probably be putting in an offer.

I did notice however that it pulls a little to the left sometimes, both on acceleration and braking. It was difficult to tell if it was just the road or the car, as it wasn't always noticeable. I am assuming it is the tracking, but am wondering if it could be something else?

Rgds
 
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