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Trying to trade in my 15 Cooper S convertible and I'm getting murdered on trade. November will be 3 years ownership. Purchased for $37,700 and getting offers for $16,500. 30K miles no accidents mind you!
Not sure whether to just stick it out and keep making payments or take the hit and get off this sinking ship. Love the car but not when it's hurting my wallet like this. Looking at 2018 M4 Convertible, and it will be a lease lol.
Do you have the time to sell it privately? Low to mid 20's seems more in line with what I see near me. Did you check to see if you can arrange a no money down lease on the new one? Keep shopping for the dealer that will work with you.... good luck!!
Sounds about right. That's why I probably never, ever buy a new MINI. I've owned three and bought them all used. I let other people take the depreciation shot to the pills.
The only way to get your money out of buying a new car is to DRIVE it out. A big chuck of change is lost the minute you drive off the lot. It's a sad fact of owning autos...
Thanks for the advice everyone. I basically ended up biting the bullet, and ordered it in Shakira Orange, manual transmission, Executive Package, 19" wheels, Heated Steering Wheel, and Neck Warmers.
My $30k 2007 MCS got me $7,500 in dealer trade-in on my 2014 MCW coupe. Minis aren't know for their resale value. It had a few things wrong with it so I wasn't up for messing with private sale.
MINI's have horrible resale value. I blame atrocious reliability ratings.
No, blame the fact that they are not a popular car. Very low sales volume. Probably because they are perceived as being little bitty cars with not much room in them. Which is pretty much true. Ever sit in the back seat of a hatchback? You'll only do it if you have to. Personally I like having a 2 seater. I never have to drive people anywhere.
Unless it is a car you have to have, buying new is not a good idea, as it is tainted as soon as you sign the papers. I bought a 2000 Ford Contour brand new, V6 Duratech, 4 doors, and black for $18,800 with a 6 year, 100,00 mile bumper to bumper warranty . And auto so wife #1 could drive it. it was fun, looked good, and had 4 doors. We kept it 11 years, put 149,00 miles on it, and sold it for 9K to a girl on Craigslist.
We never took that car back to the dealer. Brakes, tires, WWipers, and oil changes like clockwork, kept it healthy.
** Tho it had good pull when you smashed the gas pedal, it did not handle like the slot car the Mini is! It is a different driving experience when in the Mini
Sure it is "high maintenance", but worth the trials., IMO.
Yea sad but true, its a niche car. I just bought my 11 r57 vert for 5500...in perfect shape and it still had the 30+k sticker in the glovebox. Probably the worst resale value ive ever seen but im happy because its my toy car and with prices that low i think I’ll probably always buy a mini to play with.
Yea sad but true, its a niche car. I just bought my11 r57 vert for 5500...in perfect shape and it still had the 30+k sticker in the glovebox. Probably the worst resale value ive ever seen but im happy because its my toy car and with prices that low i think I’ll probably always buy a mini to play with.
I am getting e-mails that people are still chiming in so I figured it was the right move to provide an update.
I did end up trading to the dealership and putting it towards the lease as I was credited the difference in the tax which made the hit more tolerable. I picked up the car on Nov 3rd so I've had it for 2 weeks now. Here are some pictures on the day of delivery:
My boss has a 2015 5 series, loves the car and now has 45,000 miles on it, no issues and he is not worried about depreciation since he plans on keeping until it reaches 150,000 miles.
