So much for Mini's holding their value..!!

[Big Gordy]

Been talking to one of the girls at work who tells me she's just traded her 3 year old 'S' in for a new cooper. Its mint in pepper white with only 17500 miles on the clock. I asked her how much she got trading it in and was stunned into silence by her reply..................9 grand:eek::eek::eek::argh:
So that's a 18 grand car loosing 50% of its value in 3 years:eek:
Why oh why do we do it:frown::thud:Its madness:ragin:I bet you the dealer sticks it on the forecourt for about 12 grand:argh:

Rant over:thumbs up:

[Craig]

yeah been on the receiving end of this a couple of times... :argh::argh:

seems amazing that dealers don't discount cars, but say that they can't give you as much for your car as the market is slowing..:confused::ragin::ragin: Go Figure :Whistle:

I know they are giving a little back now, but thats 7 years of huge profit making... the gravy train is coming to an end ;)

[Forbes]

05 plate for £9000, am struggling to find a 04 (with decent spec) for that. Though when i got mine 3 year old Ones were £9000. Times of change

[bradz1]

Used mini's (i.e) 5-6 years Old are Holding their money like Crazy.

an 02/03 Cooper S is making £7k-£7.5k all day long and i bet in a Year you will still get £6k easy.

A Grand in a year is Mega good compared to other cars

I looked at LOADS of 2002/2003 cars Private sales and couldnt get a Low milage Car (sub 40k) with the Full spec for £7k. I could have got a Basic spec S with Crap miles for £5k.


Ive Bought and Sold cars for years and Used Mini's are Holding very good value.

New Mini's and cars a few years old are Dropping like a stone but when they hit 5years old they settle right out.

Never Buy new, Your asking to loose a Fortune.

[euan]

That is scary, but it's surely to be expected? Mini held the value as everyone wanted one when they came out. Now, there are a lot more of them about, more competition, the new one isn't as good looking as the old one etc, there will always be an eventual decline in the residuals. It's still a good car in terms of depreciation, but just not as good as it was.

Saying that, I remember a time when I sold my Cooper, 18 months old, for £1500 less than I'd paid for it and with 12K on the clock, which on a new car is madness.

[ianking]

To be fair like others have said I think that price is not too bad considering everything else is dropping like crazy.

MINIs are still holding well compared to most other things but the bubble has burst a little due to the amount available on the huge used market.

[Ivano]

Used mini's (i.e) 5-6 years Old are Holding their money like Crazy.

an 02/03 Cooper S is making £7k-£7.5k all day long and i bet in a Year you will still get £6k easy.

A Grand in a year is Mega good compared to other cars

I looked at LOADS of 2002/2003 cars Private sales and couldnt get a Low milage Car (sub 40k) with the Full spec for £7k. I could have got a Basic spec S with Crap miles for £5k.


Ive Bought and Sold cars for years and Used Mini's are Holding very good value.

New Mini's and cars a few years old are Dropping like a stone but when they hit 5years old they settle right out.

Never Buy new, Your asking to loose a Fortune.

Totally off topic i know but just noticed your signature. A Techart Cayenne!!!! That must be quite a machine. The Techart Tuning is amazing, particularly some of the 911s they put out :thumbs up::thumbs up:

[bradz1]

Thanks.

Mines is just the baby 4.5 V8 NA with the Techart wheels and Suspension and Remap. Still Fun though.

[Big Gordy]

I know they are giving a little back now, but thats 7 years of huge profit making... the gravy train is coming to an end ;)

Aye 500 quid for ONE/Cooper and 750 quid for an 'S' there generosity holds no bounds:frown:

[Big Gordy]

A Grand in a year is Mega good compared to other cars

But in this case its not tho is it:eek: It's 3 grand a year which is horrific IMO:ragin:

[Big Gordy]

an 02/03 Cooper S is making £7k-£7.5k all day long and i bet in a Year you will still get £6k easy

Try telling that to Colin (CCM):frown: He's just sold his 'S' a few months back and struggled to get 5 grand for it:eek:

[KenL]

Did this person shop around or just say "aye, awright then" to the first offer from 1 dealer?

[KenL]

, the new one isn't as good looking as the old one etc,

Correct, it is better looking :smilewinkgrin:

[Big Gordy]

Did this person shop around or just say "aye, awright then" to the first offer from 1 dealer?


To be honest....I don't know.

[Big Gordy]

Correct, it is better looking :smilewinkgrin:


Ehhhhhhhh naw......the R56 has put on tooooooooo much weight for my liking:knife:its now more MAXI than MINI:moonie:

[Stewart]

Mate bought a brand new Ranger Rover Vogue SE and his custom seats cost more than my 57 plate Cooper, well almost at 12K…..its a few years old now.

I think its came in at just under 70K….he still has it and plans something new in the summer……but the Trade-in will be scary as it had a ton of extras….probably down to 20-35K:eek: with 27000 on the clock. But that’s what he can afford with a very successful business.

So I’m quite happy with my mini and thankfully got my 57 plate cooper 1200 miles on it for 13K plus my trade that was only worth £1000 and that was generous as Honda were only offering £600 and it was a blooming Civic. Brand new and spec’d the car would have been around £16.5K

Older Cooper S I certainly would not buy with that Road Tax bracket……and thats trade-in ,if we go looking for her car I agree it will be on for 11K-12K.......

[weefossy]

£23k Clubman S to £16K in 11 months :argh:
Even my equities haven't lost that percentage:ragin:
C'est le vie

[Stewart]

Fossy that must be some extras list on yours…£23K on a Mini, mind you I dont know how much new the S version is....

[Gismo]

Fossy that must be some extras list on yours…£23K on a Mini, mind you I dont know how much new the S version is....My S cost £23k, but, i have no plans for trading in, especially during this credit crunch :frown:

[mikeythemini]

Think it should be a keeper ALan - mine is
They don't make real Minis now ;)

[Craig]

Did this person shop around or just say "aye, awright then" to the first offer from 1 dealer?

as far as I know he got no callers to all his adverts after about 3 months so if you mean did he say yes to the first caller, I think it was a yes... but you can understand... (hopefully) ;)

[Craig]

Think it should be a keeper ALan - mine is
They don't make real Minis now ;)

Flamer !! :thud::Whistle:

[Gismo]

Think it should be a keeper Alan - mine is
They don't make real Minis now ;)


Flamer !! :thud::Whistle:I think i must agree :Whistle:

[N12 JLK]

what does flamer mean?

Yes I agree they don't make Minis any more just BMW's with a mini badge.
Now that should liven things up. Stir stir.

[illegalhunter]

what does flamer mean?

Yes I agree they don't make Minis any more just BMW's with a mini badge.
Now that should liven things up.
BMW build quality has gone tits up then

[N12 JLK]

BMW build quality has gone tits up then

only if you have had implants:thumbs up:

[The Dogfather]

Its not the build quality, its the rush to get to market.

[Scottie]

I like both the first generation and second (R56) generation Mini.

I would own both no problem but prefer the more "modern" look of the R56.

[AndyP & Lenore]

Topic is drifting a wee bit off towards MINI bashing. Sorry, R56 bashing. But here's my tuppence worth...

9K loss in 3 years is awful, but imaging what they'd have got if it was a Ford Focus. Scary.

As for "Real MINI's". I'm no fan of the classic owning 100 % BMW free assholes, but you all need to remember they realy DONT make MINI's anymore. Someone else hit the nail on the head. They are BMW's with MINI badges.

But, to be honest, for all their foibles, they are still cracking cars. We've boon looking to change our FL2 recently and almost everything we get into feels cheap and nasty. We get into either of our MINI's and you can just feel the quality.

A.

[KenL]

But, to be honest, for all their foibles, they are still cracking cars. We've boon looking to change our FL2 recently and almost everything we get into feels cheap and nasty. We get into either of our MINI's and you can just feel the quality.

A.

Going further off-topic :D

Have you been in a VW or Audi?

[AndyP & Lenore]

Going further off-topic :D

Have you been in a VW or Audi?

Yes. Not keen on either.

A.

[KenL]

Yes. Not keen on either.

A.

Quality or the cars?

Audi are the best built interiors around IMO.

[Stewart]

Been around Mini all my life, Mini Vans, 1275 GT’s etc the real originals and I’ve seen them fall apart right down to finally cutting one up and only salvaging the rear Sub-frame.

Loved the originals more the memories and the character of the cars but certainly not the Build quality or safety or the rate at which they fell apart and rusted. Has anyone seen the front wheel of the car pass them going down a hill? Well I have in an Original 1275GT.

The character is there and everyone knows it with the BMW, Build quality is as good as the 08 Focus on the drive which is great along with the Audi’s but I found the Audi’s I took out apart from being boringly sensible just did not make me smile….. The VW Golf GT seemed Dull as well.


R56 Cooper
Why I have this is more or less to get back the fun in driving and I love it more each day, why I have this because its solid and reliable, Why because I always wanted to own a mini from the age of four…I appreciate the original….but love the one I have.:D

[Gismo]

Quality or the cars?

Audi are the best built interiors around IMO.:off topic: let's try and keep this on topic folks :rolleyes:

[Big Gordy]

Its OK Alan:smilewinkgrin: I know I started this off about the depreciation of mini's but its interesting when you get other peoples slant on the whole car thing:thumbs up:

I also own an Audi A4 and it to has been hit by depreciation to be fair. It was a 21 grand car that after 4 years I bought for 8 grand:Whistle: Like I've said in another post when I considered trading it in I was only offered 4 grand for it:eek:

Andy I've always said I wasn't keen on the R56 shape but thats just my opinion:moonie: If you like it thats cool with me buddy:thumbs up: I'm more interested on how your ownership experience with the FL2 has gone? I've got a mad hankering for a black Freelander Sport but have heard so many horror stories about them:frown: Just wondered what your take on it was seeing as you actually own one:smilewinkgrin:

[euan]

Well, how's this for deprecation. My mate bought a new Audi TT 3.2 in March, when they had strong residuals. The tax brackets changed, market fell apart and he's been offered 9K less than he paid for it 7 MONTHS after he bought it.

So while Mini's may be dropping, let's keep it in perspective ;-)

[Big Gordy]

Does make you wonder why we still keep buying new cars doesn't it:argh:

[AndyP & Lenore]

Its...... I'm more interested on how your ownership experience with the FL2 has gone? I've got a mad hankering for a black Freelander Sport but have heard so many horror stories about them:frown: Just wondered what your take on it was seeing as you actually own one:smilewinkgrin:

Gordon, are you talking about a Freelander, or a Freelander 2? Not sure you can get an FL2 in a Sport trim.

Our FL2 has been a good own. It's had a couple of wee niggles; some weird electrical fault, the volumetric sensor for the alarm went faulty, and the car was recalled for a fault with the sunroof which was replaced. Other than that it's been a smooth ride. Albeit and expensive ride. And, I have to say, residuals on this seem to be better than the MINI at the mo. Go figure.


Does make you wonder why we still keep buying new cars doesn't it:argh:

It does make you wonder. And to be honest, I doubt we'll buy another "new" new car other than a MINI. The R56 will probably be traded next year for another MINI of some sort - new cabrio or a JCW if they bring out an auto version. Ideally of course, an auto JCW Cabrio would be very nice, but may be asking a bit too much.

But our FL2 replacement will deffo be second hand.

A.

[Craig]

Well, how's this for deprecation. My mate bought a new Audi TT 3.2 in March, when they had strong residuals. The tax brackets changed, market fell apart and he's been offered 9K less than he paid for it 7 MONTHS after he bought it.

So while Mini's may be dropping, let's keep it in perspective ;-)

Interesting, what was the percentage drop, cos that is more relevant...

I lost just over £5k on my R56S in 5 months which amounted to just over 25% of it's value.. :frown: It would be interesting to see what the percentage drop is on that TT as I think the TT would only be slightly worse... ;)

So we may not be that out of perspective... :thumbs up:

[euan]

Interesting, what was the percentage drop, cos that is more relevant...

I lost just over £5k on my R56S in 5 months which amounted to just over 25% of it's value.. :frown: It would be interesting to see what the percentage drop is on that TT as I think the TT would only be slightly worse... ;)

So we may not be that out of perspective... :thumbs up:

I think he paid about 32K for it...

[Craig]

I think he paid about 32K for it...

that works out at about 28%, so not a huge difference... ;) I still believe that MINI values aren't as strong as they used to be.. The bottom end of the market seems to be doing the best (4 to 7K mark) :smilewinkgrin:

[Duncan Stewart]

I lost less than £4K over 3 years on my Red R50 Cooper (traded in in March 08 for my current R56 Cooper) which I thought was pretty good.

I think the higher depreciation on some Minis is the costly extras that you don't really get much back on :sad:

[badwolf340]

Cant really agree ,have changed both Mini and BMW recently and was really pleased with trade in's,one car over 12 month's old and the other under.Have been used to other make's that have been REALLY bad for trade in value's.:popcorn:

[KenL]

I think the higher depreciation on some Minis is the costly extras that you don't really get much back on :sad:

A VERY good point Duncan. The best way to save cash is to resist the urge to tick too many boxes.

[thechief]

Had she shopped around she would've probably got a bit over £10k, as we just traded in a similar car (with around 25k miles though)

Lets be realistic though, cars are not an investment. If you think its worth more than people are prepared to pay then keep it.

[euan]

Had she shopped around she would've probably got a bit over £10k, as we just traded in a similar car (with around 25k miles though)

Lets be realistic though, cars are not an investment. If you think its worth more than people are prepared to pay then keep it.

There is a caveat to that - "most cars" are not an investment. Some bloke in the US bought a McLaren F1 on Wednesday for £2.5 Million, which isn't a bad return on investment.

But yes, most cars are not investments. See the speculators who put down deposits on Nissan GTRs all did a runner before buying them as they weren't going to get a decent return on it.

[Sheilz]

So............ that's why nobody has come forward with £20K for specy :Whistle:;) Will not accept a penny less, not one penny :yes nod: :yes nod:

[Crombers]

Interesting topic ;)

Buy one, fall head over heels for it, keep it for years & then let's see this depreciation 'thingy' after 10 to 15 years :thumbs up:.

Wonder how much you'll get after that period of ownership on a one owner sub 80,000 mile car ;)

[ianking]

It seems as though cars are really hitting hard.

A boy I know that has a dealership has an 05 plate Cooper with Chili pack, 1 owner car with 35k on the clock and its been on his forecourt now for 6 months. Its at £7495 and still the phone doesnt ring.

Another guy I know has his own dealership and has recently taken a couple of fairly new MINIs from other dealers that only sell their own make. He got them for £2k behind trade book. His retail is now effectively trade and still they are taking their time to shift.