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Time to trade?

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Old May 27, 2014 | 07:12 AM
  #1  
Love_Is_Like_Oxygen_Blue's Avatar
Love_Is_Like_Oxygen_Blue
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Time to trade?

At what point should I trade my 2008 manual Mini? Someone recommended trading before 100k miles. Currently has 88k. I like the car and not having car pyt but don't want to get stuck with problematic car soon. No dealer nearby and local shop couldn't even change oil without leaking because they did not know to replace crush ring.
 
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Old May 27, 2014 | 02:20 PM
  #2  
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Why not get rid of your car when it's too expensive to repair?

FWIW it's not always necessary to replace the crush ring. Some folks go a few to several oil changes before replacing the washer. Yes, it is a good idea since it's inexpensive and gives you a warm fuzzy feeling inside.
 
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Old May 27, 2014 | 03:53 PM
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From: Lost Angeles Area, Solar Cal
If you're going to do it, now is the time, while it's still got a little value as a trade-in.
 
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Old Jun 1, 2014 | 06:31 AM
  #4  
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afadeev
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From: NYC
Originally Posted by Love_Is_Like_Oxygen_Blue
At what point should I trade my 2008 manual Mini? Someone recommended trading before 100k miles. Currently has 88k. I like the car and not having car pyt but don't want to get stuck with problematic car soon. No dealer nearby and local shop couldn't even change oil without leaking because they did not know to replace crush ring.
Step 1: Find a new local shop. There is NOTHING special about changing oil in a MINI vs any other car, and you can safely reuse the crush ring. If a mechanic couldn't figure out how to do that - ditch him before he breaks something expensive.

Step 2: There is nothing magic about 100K mile mark. I've driven and sold cars with 250+K miles on them, as well as those with sub-30K miles. There are plenty of buyers for both types, though at obviously different price points.

Step 3: Your '08 MINI is not worth much. You did not say whether it's Justa or an MCS, but have a $7-12K car during private sale, less than that at trade-in. Is this your only car, or 2nd/3rd vehicle?
If it is the only car, ditch it fast. There are far too many "usual" issues with MINIs to rely on them as the only form of dependable transportation. If it's your 2nd/3rd car, you have the luxury of treating and repairing as a "toy". That also implies you have the means to have "toys". Then keep it.

Hope this helps,
a

Keeping my '08 MCS at least until F56 JCW comes out
 
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Old Jun 1, 2014 | 07:16 AM
  #5  
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From: Chicago Burb
spot on^^

100k is usually just a psychological number. The condition of the car depends on so many things more than mileage such as maintenance, conditions driven in, style of driving, time/how old the vehicle, etc.....
 
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Old Jun 1, 2014 | 07:48 AM
  #6  
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jamesdean
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From: Nashville
If your trading it there us a wall of depreciation it's best to stay under. But the lack of payment also covers a lot of repairs. I would only trade if your rdy for a new car. If you rake care if your car and fo the maintenance especially if it's not an S you could easily put 200k and be ahead of the game.The Non S cars are pretty reliable especially the 2nd Gen
 
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Old Jun 1, 2014 | 07:54 AM
  #7  
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TREX
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As you put miles on your Mini you also increase the odds that needed repairs will start to become more common and those repairs can be very expensive. In fact you could eventually end up putting more back into the car in repair bills than the car is actually worth. https://www.northamericanmotoring.co...-estimate.html


It's a crap shoot at best, many Mini owners put a lot of mile on their cars trouble free and still many more are not as fortunate.
Me, I'd never own a Mini Cooper out of warranty, but that's just me.
 

Last edited by TREX; Jun 1, 2014 at 09:09 AM.
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Old Jun 2, 2014 | 09:38 AM
  #8  
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afadeev
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From: NYC
Originally Posted by TREX
As you put miles on your Mini you also increase the odds that needed repairs will start to become more common and those repairs can be very expensive. In fact you could eventually end up putting more back into the car in repair bills than the car is actually worth. https://www.northamericanmotoring.co...-estimate.html

It's a crap shoot at best, many Mini owners put a lot of mile on their cars trouble free and still many more are not as fortunate.
Me, I'd never own a Mini Cooper out of warranty, but that's just me.
The above reasoning is fundamental flawed.

You always put money into the car that you will not get back, or that wont increase its value. Either via monthly lease/loan payments, or ongoing maintenance/repair bills once the car is paid off.

That's the price of owning a car.

Whether you are throwing $3-6K/year at a new, or at a 10-year old car, it hurts exactly the same in the wallet. You may FEEL more indignant about $3K repair on an old car, but put on a brave face about spending that cash on a new car loan, but that's delusional.

As the value of the car depreciates with age, that $3-6K/year may start approaching the replacement value of the car. But that fact should have no bearing on your decision to keep it, or start throwing that $3-6K at a new car.

If you want a new car and can afford it - go and get it.

If you like your old car and maintain it properly, the money it takes to keep it going will likely be significantly lower than what it will take to fund a new vehicle. Usually ~1/2 of the cash you will be throwing at a new car.

YMMV,
a

P.S.: The real downside to owning an old car is the increased frequency of repairs. For that reason, it helps if you have another vehicle in your stable in case this one needs to go to a shop, or needs to be out of commission for DIY repairs.
 
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Old Jun 2, 2014 | 10:27 AM
  #9  
TREX's Avatar
TREX
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Originally Posted by afadeev
The above reasoning is fundamental flawed.

You always put money into the car that you will not get back, or that wont increase its value. Either via monthly lease/loan payments, or ongoing maintenance/repair bills once the car is paid off.

That's the price of owning a car.

Whether you are throwing $3-6K/year at a new, or at a 10-year old car, it hurts exactly the same in the wallet. You may FEEL more indignant about $3K repair on an old car, but put on a brave face about spending that cash on a new car loan, but that's delusional.

As the value of the car depreciates with age, that $3-6K/year may start approaching the replacement value of the car. But that fact should have no bearing on your decision to keep it, or start throwing that $3-6K at a new car.

If you want a new car and can afford it - go and get it.

If you like your old car and maintain it properly, the money it takes to keep it going will likely be significantly lower than what it will take to fund a new vehicle. Usually ~1/2 of the cash you will be throwing at a new car.

YMMV,
a

P.S.: The real downside to owning an old car is the increased frequency of repairs. For that reason, it helps if you have another vehicle in your stable in case this one needs to go to a shop, or needs to be out of commission for DIY repairs.


If we were talking about my Toyota Sequoia I would tend to agree, but a Mini Cooper is no Toyota and unfortunately they have a poor track record for reliability and repair cost are very expensive on a Mini Cooper. You could easily end up putting much more into a used, non warrantied Mini Cooper in repair bills than the car is worth.
Makes much more sense (if buying used out of warranty) to purchase a more reliable car such as Toyota or Honda or even a Ford as far as repair cost potential vs the Min Cooper.
I'm not necessarily suggesting you go out and buy a brand new Mini Cooper as there are plenty used ones out there with remaining factory warranty and CPO extended warranties.
 
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Old Jun 5, 2014 | 12:33 AM
  #10  
STS-1's Avatar
STS-1
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It sounds like you may be a "less informed" owner. I say that because 100k miles is an arbitrary number and each car is different. That figure only speaks to resale value, not reliability or economy of ownership.

Learn about the common faults and ask yourself how frequently you've had a failure. Sure, you're going to have problems with wear parts like the water pump or the timing chain... we all will. But these are manageable.

Establish your 3-5 year budget. What's better for you- replacing the car or dealing with repairs?

What has the cost of ownership been since you paid it off? If it's nothing but oil changes, washes and fuel then you're doing well. Don't fix what's not broken. Just keep on the preventive maintenance and anticipate costs for wear parts. Budget for it.

Short of needing a new drivetrain, I think you will absorb the maintenance cost of keeping your 2008 MINI far better than you would a new car, even if you need to use a rental here and there when your car is in the shop.

If you keep your 2008:

Find a good mechanic or commit to your own repairs for things that are manageable for your skill level and tools (such as oil changes, water pump, turbo, etc.) Many of these repairs are really not difficult. There is an incredible online tech and parts support network for DYIers.

Keep your car spotless, learn about its systems and weaknesses, and stay on the preventive maintenance.

Finally, the MINI is not a cheap car to own. If you want 200k trouble-free miles then get a Toyota. But The MINI is lots of fun and it's a driver's car. Good luck with your decision!
 
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