I notice that the resale on used Mini's is not what it used to be. Has everyone who has wanted a Mini Cooper purchased one? It still has one of the highest residuals in the industry, but I do see a drop in used car prices. This is totally normal of course, considering the Cooper has been on sale here in America for almost 3 years. Still a great quality car for around 20K...

 

Hey, it's not losing it's luster with me, that's for sure! (I don't even own mine yet!)

 

For the last two years I have been checking the newspaper ads for used MINIs and in general there are 1 to 3 listed but no more. Currently there are about 3 listed.

I'd say that demand is as good as ever and there are some used good MINIs out there for sale. Not at bargain prices but still a reasonable value.

Has the MINI lost it's luster? Not really. The new MINI prices are headed up and wait times are still pretty high (months) so for those who cannot wait and don't really want the newest colors then the used MINI market looks pretty good for now.

Most of the MINIs that are 2 years old have the problems worked out and fixed by now so that is a plus. They also have some warranty left which is another good point.

 

I don't think so at all. My 2003 Cooper was recently totaled. I did a lot of research looking for an idea of what the insurance settlement would be, and in search of a replacement. Similarily equipped used 2003 Coopers were selling for only a few hundred less than my original MSRP.

 

About three weeks ago, I test-drove a used MINI at Niello MINI in Sacramento, CA. Quick rundown:

2003 MCS, Dk Silver/White roof and stripes
25,000 miles
Premium Pack
Sport Pack
Leather seats

They were asking $25,000 for it! I didn't get the impression there was much wiggle-room on the price, either. Niello is adding $2500 to the MSRP on every new MINI they sell, and apparently, there's NO wiggle-room on that, and this obviously keeps the price on used ones up there, too.

So, I'm not sure about other parts of the country, but when a two-year old MINI with 25K miles on it costs more than MSRP on a new one, I'd say, yeah, they seem to be holding their resale value pretty well in Northern California!

 

Doesn't bother me any if it happens to be true. I have mine, and don't care how many other people don't have or don't want one.
On the flip side of it all, I kinda almost hope that prices don't drop too much. Then every 3rd car will be a MINI, everyone will own one, an I'll just have something else that everyone else has. A big part of what attracted me to the MINI, was that it was different than everyone else.
Cheers,

 

speltzer, this topic seems familiar .

I'd say the used market is taking a dip. I wouldn't say it's losing its luster though. IMO the MINI isn't the greatest car for the general population. Most either want more power, more interior room, a bigger vehicle, a larger gas bill, or something with AWD/FWD (at least here in the NW). Mind you, there is still a long (year plus) wait at the local MINI dealer to order new but I know of about 6 used MCS locally that are priced for $23-25k that have been sitting on the lots for months. I've also seen a few MCS sell through private parties for $20-21K (2003 and 2004 model years).

The reason I asked the similar question earlier is I think we are at a point where those that pay a premuim for a used MINI will be in a position where they will owe more than the car is worth in a very short period of time (6-12 months). I believe this is due to the initial MINI buyers just wanting to try something new, leases coming available, and MINI fanatics wanting to go for the 2005 or a convertible. All of which push more used cars into the market (good for me!) .

Todd

 

I don't care much about the market.
Luster in the paint is what I worry about

 

I'm more focused on cleaning up the rogue Cosmaline (sp?) traces VDC failed to wash off. It's oozing onto my boot from the rear wiper assembly (but a little less every time I detail.) Jimbo

 

Your rear wiper is going to ooze for the life of the car.Unless you don't use it

 

Here is a shot of a BMW still coated with Cosmoline. The entire exterior is sprayed before crossing the ocean and is removed at the VPC (Vehicle Processing Center) before it hits your local dealer.

 

The rear wiper is a dirty thing,drips dirt all over the back of my MC