I live in the UK and recently was offered the opportunity to swap from my 06 to a buddies low mile 07 at a seemingly great price, when I started looking at the prices the cars were being offered for I was very surprised. It appeared that the values had dropped substantially since I had bought mine, This is normal for most other cars but for years the MINI has been the least depreciating car in the UK. I have looked even more recently and found the prices have dropped even more steeply. I have also talked to our fleet manager at work who spoke to his supplier and they said that MINI's are sitting on the lot for ages and dealers are not taking them in on trade as they are not selling. I can imagine the market for such a car over here is hurting, With our petrol prices 30mpg is not that spectacular and the car is not the most flexible vehicle around.

I was just wondering if you US folks have seen a similar drop in prices/values.

Peter

 

I think that the crappy economy and the stock market in shambles is hurting more than Mini resale value and demand.

 

yes they have dropped here very much most dealers have many on the lots, I was lucky to sell mine whem i did I only lost 1500 of new purchase price I was lucky, prices are dropping and many re not selling.

 

Here in the San Francisco Bay Area car dealerships are closing down [American cars.] Import car dealerships are suffering too. BMW sales of its luxury line is suffering the same as other brands.

People are not buying cars and they are hunkering down for two to three years of recession [and maybe depression?]

Creditors [banks] are not giving loans on new and used cars, unless one has stellar financials [90% of Americans DON'T have good financials. About 60% of Americans live paycheck to paycheck. That percentage is increasing.]

Creditors are NOT loosening credit, creditors instead are tightening lending. Creditors are reviewing existing customer credit accounts and are decreasing existing credit limits, canceling customer accounts [e.g., credit cards], or raising interest rates.

The majority of Americans are scared sheetless. [Duly note there are some NAM members in here capable and able to buy a new MINI, but I submit they are in the minority.]

MINIs sales are suffering along with sales of other cars and goods.

IMHO MINI prices will decline significantly triggered by people losing jobs and having to unload the MINI [because monthly car payments are $400 to $600.]

When people don't quickly buy a MINI for sale sellers panic. Sellers lower the selling price further to the point where the MINI will sell. But that sends a signal to the market that MINI values are tanking, just like other goods. End result: MINI selling prices will go even lower due to fire sales, someone having to "unload" the MINI.

Back in year 2000 when the tech market imploded, I sold my BMW for about $5000 less than what I normally could have got for it. No one in the Bay Area was buying $70,000 BMW luxury cars.

That's how I see it.

 

My 2005 R53 S hardtop MINI with 50K miles still retails for 75% of its original value on a private sale and around 67% for a trade-in.

I would say that in despite the horrid economy, our cars have managed to upkeep solid resale values. A lot of people are abandoning SUVs in droves and in despite of today's lower gas prices, prices at the pump at expected to trend back upwards in the coming months.

The MINI is a high quality car and because it is a desirable car, people are willing to pay a premium for it.

 

Here is the US it's not just a Mini "issue". It' s an industry issue. With the credit and economy problems ALL manufacturers are sitting with full lots. Last report I saw showed something like 129 days of inventory which is horrendous.
Good news is if you can get your own loan or pay cash there are a lot of great deals out there. I bought an RX330 a little while ago and stole it off the lot which is usually very hard to do at a Lexus dealership.

 

I disagree [see my earlier post.] There may be anomalies, but in these tough economic and tight credit times in the U. S. there are few if any people willing to pay premium prices for a car, not even the MINI. I suspect that for the majority of Americans, $20,000 to $32,000 for a MINI [used and new] is a lot of money that no budget will allow.

The MINI is an attractive case to the middle classes. The middle class prospective buyers are the ones taking a beating right now. The lower classes would have never been in the market for a MINI and there are only so many wealthy MINI buyers to go around.

I'd be curious how the NAM vendors are doing nowadays. I suspect business is really bad.