The eternal sunk cost fallacy question..repair or trade it?
#1
The eternal sunk cost fallacy question..repair or trade it?
NAM,
I have an '09 R56 Cooper S that I love driving. I've picked it up at 104k miles. (should've bought something w/low miles, hindsight is a *****). The car now has 116k miles. In 15 months of ownership I had the following issues.
Coolant gasket leak -$600 (almost right away).
Death rattle - $1200. (at 107k miles,Although I *might* get re-imbursed partly due to the lawsuit).
Wearables:
Clutch - $1200 (at 110k miles)
Tires - $300. (at 112k miles)
Last thursday, I've noticed a huge puddle of oil under my car. Took it to the mechanic and he told me that it is an "oil housing" leak and a well known R56 issue. He quoted me $650 to fix it.
Now I need your collective wisdom about it. Do I fix it and hope nothing too terrible happens in the near future or trade it in and take a huge hit and pay for a new car? I love my MINI, but the N14 is a pile of poo.
I have an '09 R56 Cooper S that I love driving. I've picked it up at 104k miles. (should've bought something w/low miles, hindsight is a *****). The car now has 116k miles. In 15 months of ownership I had the following issues.
Coolant gasket leak -$600 (almost right away).
Death rattle - $1200. (at 107k miles,Although I *might* get re-imbursed partly due to the lawsuit).
Wearables:
Clutch - $1200 (at 110k miles)
Tires - $300. (at 112k miles)
Last thursday, I've noticed a huge puddle of oil under my car. Took it to the mechanic and he told me that it is an "oil housing" leak and a well known R56 issue. He quoted me $650 to fix it.
Now I need your collective wisdom about it. Do I fix it and hope nothing too terrible happens in the near future or trade it in and take a huge hit and pay for a new car? I love my MINI, but the N14 is a pile of poo.
#2
#3
So long as your high-pressure fuel pump doesn't go out, it sounds like you've got all the common issues taken care of.
The real question you need to ask is, would it be cheaper to run with this car, or the new one? Consider the cost of the trade-in vs the benefit of the new car, the likelihood of other problems occuring, and what they'd cost. Since you've got it at the mechanic already, have them do a thorough inspection for other potential issues and you can get some insight.
The real question you need to ask is, would it be cheaper to run with this car, or the new one? Consider the cost of the trade-in vs the benefit of the new car, the likelihood of other problems occuring, and what they'd cost. Since you've got it at the mechanic already, have them do a thorough inspection for other potential issues and you can get some insight.
#5
Have you ever had it walnut blasted too?
Otherwise check the 2nd gen boards. Your 09 has a handful of standard issues (as mentioned some main ones you've taken care of already).
But, $700 to fix up and sell for.... $10k? That's some easy math for me. Otherwise you may have to knock an easy $2K off the selling price because of "buyer concerns"
Pick up a 2013 to replace it
Otherwise check the 2nd gen boards. Your 09 has a handful of standard issues (as mentioned some main ones you've taken care of already).
But, $700 to fix up and sell for.... $10k? That's some easy math for me. Otherwise you may have to knock an easy $2K off the selling price because of "buyer concerns"
Pick up a 2013 to replace it
#6
NAM,
I have an '09 R56 Cooper S that I love driving. I've picked it up at 104k miles. (should've bought something w/low miles, hindsight is a *****). The car now has 116k miles. In 15 months of ownership I had the following issues.
Coolant gasket leak -$600 (almost right away).
Death rattle - $1200. (at 107k miles,Although I *might* get re-imbursed partly due to the lawsuit).
Wearables:
Clutch - $1200 (at 110k miles)
Tires - $300. (at 112k miles)
Last thursday, I've noticed a huge puddle of oil under my car. Took it to the mechanic and he told me that it is an "oil housing" leak and a well known R56 issue. He quoted me $650 to fix it.
Now I need your collective wisdom about it. Do I fix it and hope nothing too terrible happens in the near future or trade it in and take a huge hit and pay for a new car? I love my MINI, but the N14 is a pile of poo.
I have an '09 R56 Cooper S that I love driving. I've picked it up at 104k miles. (should've bought something w/low miles, hindsight is a *****). The car now has 116k miles. In 15 months of ownership I had the following issues.
Coolant gasket leak -$600 (almost right away).
Death rattle - $1200. (at 107k miles,Although I *might* get re-imbursed partly due to the lawsuit).
Wearables:
Clutch - $1200 (at 110k miles)
Tires - $300. (at 112k miles)
Last thursday, I've noticed a huge puddle of oil under my car. Took it to the mechanic and he told me that it is an "oil housing" leak and a well known R56 issue. He quoted me $650 to fix it.
Now I need your collective wisdom about it. Do I fix it and hope nothing too terrible happens in the near future or trade it in and take a huge hit and pay for a new car? I love my MINI, but the N14 is a pile of poo.
Once I got the major down on my R56 2007 S it was fine, they all happened about the same time.
Coolant gasket leak -$600 (almost right away). Thermostat housing ? water Pump, expansion tank, and coolant pipe all at once.
https://www.northamericanmotoring.co...8-no-heat.html
Then did turbo oil lines and the oil filter housing at once also.
https://www.northamericanmotoring.co...-oil-line.html
https://www.northamericanmotoring.co...placement.html
https://www.northamericanmotoring.co...acement-2.html
Clucth R56 S
https://www.northamericanmotoring.co...cw-clutch.html
If you have a mechanic or indy shop you will save a bunch, if you can diy it yourself you can save a bunch more. I done all these myself.
__________________
MINI Guru/ MINI Owner Since 2004 | NEW Lifetime Part Replacement | Local Pickup
Milltek | Genuine MINI | Forge Motorsport | NM Engineering | ECS Performance | M7 Speed
Customer Service Hours: 8am-8pm EST|Sales Team Hours: 8am-11pm | SAT 10am-7pm 800.924.5172
MINI Guru/ MINI Owner Since 2004 | NEW Lifetime Part Replacement | Local Pickup
Milltek | Genuine MINI | Forge Motorsport | NM Engineering | ECS Performance | M7 Speed
Customer Service Hours: 8am-8pm EST|Sales Team Hours: 8am-11pm | SAT 10am-7pm 800.924.5172
#7
Not sure what you mean.
Thanks for the info. I have an indy mechanic but it is still quite a bit expensive. I'll talk to him about the other potential repairs.
Once I got the major down on my R56 2007 S it was fine, they all happened about the same time.
Coolant gasket leak -$600 (almost right away). Thermostat housing ? water Pump, expansion tank, and coolant pipe all at once.
https://www.northamericanmotoring.co...8-no-heat.html
Then did turbo oil lines and the oil filter housing at once also.
https://www.northamericanmotoring.co...-oil-line.html
https://www.northamericanmotoring.co...placement.html
https://www.northamericanmotoring.co...acement-2.html
Clucth R56 S
https://www.northamericanmotoring.co...cw-clutch.html
If you have a mechanic or indy shop you will save a bunch, if you can diy it yourself you can save a bunch more. I done all these myself.
Coolant gasket leak -$600 (almost right away). Thermostat housing ? water Pump, expansion tank, and coolant pipe all at once.
https://www.northamericanmotoring.co...8-no-heat.html
Then did turbo oil lines and the oil filter housing at once also.
https://www.northamericanmotoring.co...-oil-line.html
https://www.northamericanmotoring.co...placement.html
https://www.northamericanmotoring.co...acement-2.html
Clucth R56 S
https://www.northamericanmotoring.co...cw-clutch.html
If you have a mechanic or indy shop you will save a bunch, if you can diy it yourself you can save a bunch more. I done all these myself.
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#8
Yea, show them the parts and the DIY;'s they barter the price.
__________________
MINI Guru/ MINI Owner Since 2004 | NEW Lifetime Part Replacement | Local Pickup
Milltek | Genuine MINI | Forge Motorsport | NM Engineering | ECS Performance | M7 Speed
Customer Service Hours: 8am-8pm EST|Sales Team Hours: 8am-11pm | SAT 10am-7pm 800.924.5172
MINI Guru/ MINI Owner Since 2004 | NEW Lifetime Part Replacement | Local Pickup
Milltek | Genuine MINI | Forge Motorsport | NM Engineering | ECS Performance | M7 Speed
Customer Service Hours: 8am-8pm EST|Sales Team Hours: 8am-11pm | SAT 10am-7pm 800.924.5172
#9
To the OP - do a search for walnut blasting. It works same on turbo BMWs and on Minis. It cleans deposits off the valve heads and stems, renewing proper air flow. A BMW/Mini turbo engine is due at around 100K if not before.
And I agree with others - you've done the big ticket items listed in your first post. I think driving the Mini will be MUCH less expensive than trading cars. But it would be good to stay away from the dealer for parts and service.
And I agree with others - you've done the big ticket items listed in your first post. I think driving the Mini will be MUCH less expensive than trading cars. But it would be good to stay away from the dealer for parts and service.
#10
To the OP - do a search for walnut blasting. It works same on turbo BMWs and on Minis. It cleans deposits off the valve heads and stems, renewing proper air flow. A BMW/Mini turbo engine is due at around 100K if not before.
And I agree with others - you've done the big ticket items listed in your first post. I think driving the Mini will be MUCH less expensive than trading cars. But it would be good to stay away from the dealer for parts and service.
And I agree with others - you've done the big ticket items listed in your first post. I think driving the Mini will be MUCH less expensive than trading cars. But it would be good to stay away from the dealer for parts and service.
#11
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