as if u didnt know already, the mini is something special.



the g35 coupe is on there too, we have a g35 coupe in the garage and an MCS on the way next weekend.

 

That is a very good news for us the MINI ower. thank you for the info guru220 :smile:

 

That number seems WAY low to me. I'm not really clear on how they calculated that, seeing as the MINI has not been out two years yet in the U.S. and certainly not five years anywhere. Also, I would swear that I had read somewhere that it's 1-year value was actually something like 110% of the original sale price. From personal experience, I can tell you that I got 90% of the sale price after 15 months of owning a Cooper. So where did THESE prices come from???

 

I wonder what kind of value I can expect on a 6 month old MCS with 8,700 miles. I will find out in about two weeks when my '04 BMW M3 is delivered.

_________________
2003 Chili Red/White MCS, sport pack w/white wheels, cold weather pack, black leather w/anthracite dash, DVD-based Navigation w/OBC, HK sound, MFSW, PDC, rain sensing wipers & auto dim mirror. Waiting for October delivery of ordered 2004 BMW M3 with SMG.

 

>>That number seems WAY low to me. I'm not really clear on how they calculated that, seeing as the MINI has not been out two years yet in the U.S. and certainly not five years anywhere. Also, I would swear that I had read somewhere that it's 1-year value was actually something like 110% of the original sale price. From personal experience, I can tell you that I got 90% of the sale price after 15 months of owning a Cooper. So where did THESE prices come from???

I agree it does seem low, but I think they're getting their numbers nationally. Chicago would have higher car prices than say, Alabama. I see plenty of ads asking for 100% value, some seem to be 110% even, as you say. But who knows what they're actually getting?

The sellers I contacted all said "make me an offer" and their cars have been for sale for over 3 months. I've been watching closely in case I decide to go used versus new to save a bit of money and make sure to get a stumble-free vehicle. The used cars are not selling, and I would posit that that is because the new cars are so well priced. Why lose out on warrantee time and free service when the price is well within reach and reasonable? So that will certainly affect the marketplace. No matter what anyone thinks the value should be, if the demand isn't there it will fall.

Great thread, by the way! :smile:

 

Hey Cat
Have you know a MCS in LA * Lower Alabama * in worth just as much as one in SC * Southern Cal *!

 

:smile:
But you gotta admit, us city folks take a beatin' on our cost o' livin'!

 

Very good article. Coop, I know the mini hasn't been out for 5 years yet. The way they get these numbers are by projection. One bone I have to pick is the Corvette. American cars in general have the lowest resale value. As far as the AMG S55, I would never buy such a performance car used, god knows what the last driver did!


-Barry

 

Yeah yeah yeah...I get the whole projection thing. I'm just saying, it seems to me to be a stretch to project resale values five years in the future, when there is barely ANY resale market yet to use for research purposes, and the resale market that exists now is only about a year and a half old. I know that there was an article somewhere saying that the MINI's resale value was at or over 100% (due to scarcity), so with that being the case, are they expecting a second year drop of 30% or more? I ain't buyin' it.

 

Edmunds says a 2002 MCS with mileage and options like my 2003 (they dont go up to 2003) will sell for $21,921 (private party) and $24,505 (dealer retail). not bad for a $25,100 car when new.

A loaded 2002 Escalade,on the other hand, is worth $43,135 (dealer retail), down from almost $60,000.

 

Those resale value projections have been revised from a similar previous article published just a few months ago.

To summarize, back in June 2003, these were the residual projections for the MINI Cooper:

2 years of service = 64% off MSRP
5 years of service = 49% off MSRP

So as yu can see the residuals have dropped a bit or are more in tune with reality. So now they are telling us that:

2 years of service = 61% off MSRP
5 years of service = 46% off MSRP

These values are still very hight for the class, where the average residual on a compact or subcompact car at 5 years of service hoovers around 38% off MSRP.


I wonder if these numbers are being posted by the same exact source or if this is a different company.

Remember that these residuals are based on a vehicle not driven more than 15K miles per year and kept in prisitine condition.

 

I agree that all this is speculation due to reasons already given. Also, I think resale prices are kept artificially high for the same reason that the retail price isn't usually negotiable: demand outpaces supply. Those wanting more immediate gratification than the wait allows consider used Minis. A quick look at Ebay astounded me. The "buy it now" price (most often dealers') was just about what I paid for my new one. Then again, it doesn't seem like those cars find any takers.

I am usually wrong when I predict anything. But I think eventually prices will drop lots in the aftermarket. Hey, but I don't care. I bought mine with the intent of keeping it for life. We will grow old together and eventually "Mrs. Peel" will be my classic oldie but goodie. But I am usually wrong when I predict anything...

 

>>as if u didnt know already, the mini is something special.
>>
>>
>>
>>the g35 coupe is on there too, we have a g35 coupe in the garage and an MCS on the way next weekend.


Cool!!! I have the Z06 and the MCS.

RaceCarDriver

 

>>One bone I have to pick is the Corvette. American cars in general have the lowest resale value. >>-Barry

The Corvette mentioned is the Z06 (the 405hp version) in which they only produce approx. 5,000 a year as compared to about 25,000 for a corvette coupe and conv.

As an owner of 3 corvettes, your right the base vette doesn't have a great resale value but a Z06 does. Many dealers (at least in New Jersey) still charge sticker price or over sticker for a Z06 and it's been out since 01 (the 405 hp since 02).

RaceCarDriver