I didn't find this in a search and scrolled back 12 pages, so... here's my question:

Anyone know what the depreciation value is for the MINI? The reason I'm asking is because it's now getting so late in the year, I'm thinking of NOT buying a 2002, and waiting till January and get a 2003.

I figure, why order a 2002 now, to get it say in December and then in a few weeks it depreciates because it's already a year old!!!!

Anyone know what the depreciation is on a 2002 once we reach 2003? And is there a price increase in 2003?

If they come out with the Gold color in 2003, Hmmm? As much as I love red, well all that glitters..

Geez, just when I *think* I've got my mind all made up...

 

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>>I figure, why order a 2002 now, to get it say in December and then in a few weeks it depreciates because it's already a year old!!!!
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Well, I understand the point you're getting at, but do bear in mind that your car depreciates the second you sign the final purchase paperwork. It doesn't "wait a year" to depreciate (at least beyond this first, wacky demand, year). Unless you're planning on selling it within that first year, it hardly matters that you have one more year of depreciation with an 02 vs. an 03. Within a couple of years, the relative worth of all used MINIs will be about the same. IMO.

 

I think I recall someone posting some information about a Wall Street Journal (or some other 'heavy' publication) that speculated that the MINIs were going to hold their value much better then most of the other cars on the market... It's on a thread somewhere, not quite sure where...

Rocketboy_X

 

Maybe I don't understand your question, but the 2002 models are no longer being built. All the cars being built since September 1 are 2003's. The only way to get a 2002 is to buy one that is already on a dealer's lot. If you haven't placed an order yet, you will be getting a 2003.

 

All MINIs now being produced are 2003 models... don't have to wait to Dec to get an 03.

It's impossible to put down a depreciation value on the MINI yet, as it's so new. If eBay and other online market places are a hint. Not only does it hold its value... it gains value.

My best guess is that if you treat your MINI right and not rack up a ton of miles of it in the next year... you could sell it in a year from now at close to what you purchased it and not lose too much money.

 

I spoke to Jay at Cincinnati MINI last week, asking him that very question. He told me that an enthusiast had turned him on to an article written couple weeks ago wherein a major leasing company was speculating that a 3-4 year old MINI would retain 75% of its market value. From his mouth to G_d's ears. Hope the company is right.


JUST ordered DG/BLK top MCS.

 

In the UK the depreciation is as follows:

GLASSES Guide is the trade book for the UK..

MINI Cooper £13305 new.

ONE year old MINI Cooper with less than 10,000 miles is.....


£13200.. yep, depreciation of £105 in the first year!!

 

>>In the UK the depreciation is as follows:
>>
>>GLASSES Guide is the trade book for the UK..
>>
>>MINI Cooper £13305 new.
>>
>>ONE year old MINI Cooper with less than 10,000 miles is.....
>>
>>
>>£13200.. yep, depreciation of £105 in the first year!!

 

There is an article, which can be found on Edmunds.com, that indicates that the Automotive Leasing Guide (ALG) predicts the Mini Cooper will retain 61% of its value after a 3-year lease. This is the highest %age of any vehicle, including Mercedes and BMW. Keep in mind this number is for a lease, not a purchase, for which you would expect greater depreciation. As some people have said, while model year is relevant, many other factors are highly relevant, including mileage and condition of the vehicle. Also, the MINI currently will probably hold resale value extremely well for the next 2 years while supply remains very limited in relation to demand. But after that, I imagine the value will begin to drop off and level out.

Almost all car companies introduce their new model year vehicles in September of the prior year. So 2003 models are available in September 2002. Edmunds also ran an article several months ago, which I'm sure is still on the site somewhere, about deciding between buying a new "new" vehicle in September (here a 2003) or a new "old" vehicle in September (here a 2002). Buying a 2003 has the advantage that you won't be adversely affected by the turnover of a new year in 4 months, but buying a 2002 would have the advantage that their may be manufacturer or dealer incentives on price. In sum, they decided that over a five year span these differences would amount to at most a few hundred dollar advantage, depending on the deal you could get. Of course, MINI isn't cutting any deals right now. But if you intend to own your MINI for 3 or more years, I don't think model year will make all that much difference. Besides, this isn't a Honda Accord, buying and driving a MINI is all about FUN!

 

I have found that the difference in resale of a new (2003) versus the old (2002) is minor, mainly because if you purchase the 2002 you may take a hit because it is already a year old, but you now have 2 years to put the same mileage on the car without being hit with a mileage penalty, if you decide to trade it for the 2004 MCSHO (just wishing).
If you keep the car longer than 3 years the resale will be determined more by condition, options, and mileage.

 

Re: If you keep the car longer than 3 years the resale will be determined more by condition, options, and mileage.

I'll definitely be keeping it for a while and it will be spoiled and in a garage also! So it looks like the Mini is not only a good car but a good investment?

Thanks for all the replies.

 

>>Re: If you keep the car longer than 3 years the resale will be determined more by condition, options, and mileage.
>>
>>I'll definitely be keeping it for a while and it will be spoiled and in a garage also! So it looks like the Mini is not only a good car but a good investment?
>>
>>Thanks for all the replies. :smile:

All cars (usually) shift into the new model year in September - they don't use calendar yrs - never did.

 

>>A new car is never an investment. It doesn't appreciate, only depreciates. Your MINI won't be worth a lot unless it only sits in the garage and never motors. And this certainly isn't the car to do that with!

Sad, in a way, but very true. Try as you may, a car is a consumable...just like good wine. You've got to use it to enjoy it; and eventually it'll be all gone. But then hey, you get to buy another! That's looking ahead...

 

>>In the UK the depreciation is as follows:
>>
>>GLASSES Guide is the trade book for the UK..
>>
>>MINI Cooper £13305 new.
>>
>>ONE year old MINI Cooper with less than 10,000 miles is.....
>>
>>
>>£13200.. yep, depreciation of £105 in the first year!!

A year for only 10000 miles... I think I will put that on backing in and out of the garage, waiting for the minute that I will leave for work!! I will bank that the mini will retain value, but I have resigned that I'm not going to watch the mileage anymore, just enjoy the run.
my 2 cents (which probably has depreciated some with age)

 

I disagree with all that say it depreciates the minute you sign the papers! I think the only time depreciation comes into play is when you try to trade it in.... so based on what I've read on this site, THAT WILL NEVER HAPPEN!!!! You may buy additional Mini's to add to your collection, but... Stop worrying! Enjoy! Buy now, Enjoy now! sort out your "bits and peices" later!
JM2CW,

 

>>I disagree with all that say it depreciates the minute you sign the papers! I think the only time depreciation comes into play is when you try to trade it in.... so based on what I've read on this site, THAT WILL NEVER HAPPEN!!!! You may buy additional Mini's to add to your collection, but... Stop worrying! Enjoy! Buy now, Enjoy now! sort out your "bits and peices" later!
>> JM2CW,
>>

Yeeees!! I agree. The mini doesn't depreciate. Just gets better.

 

>>I disagree with all that say it depreciates the minute you sign the papers! I think the only time depreciation comes into play is when you try to trade it in.... so based on what I've read on this site, THAT WILL NEVER HAPPEN!!!! You may buy additional Mini's to add to your collection, but... Stop worrying! Enjoy! Buy now, Enjoy now! sort out your "bits and peices" later!
>> JM2CW,
>>

Yeeees!! I agree. The mini doesn't depreciate after you buy it. It was pre-depreciated at the factory. After you purchase it, it just keeps getting better. It does however shrink slightly after the first time or two you wash it, so use cold water....

 

In your case depreciation is the money you will loose because you will be selling a 2002 car instead of a 2003 one. It depends on how old will be the car when you do so. If you keep it for a while, a 2002 model (unless it is plagued with reliability problems) may prove to be a best choice since it will be the launching year for collectors and cheaper than the 2003.
If you plan to trade it within the next 3 or for 4 years, then I guess you should loose between 5 and 10 % minus price increase.
IT is a guess, do what you feel suits you better.
Hibou

 

The comment about not putting miles on it doesn't seem right. I have had my MINI since April and am taking it in for its 10,000 mile check this week. At that rate I will do 20,000 miles each year, and I live in a small community and have a short commute to work, 13 miles.

There are time I suspect the odometer is keeping track of Km's even though it say miles.