Very helpful information folks. Keep it coming, if you can.

As to an earlier comment, regarding it being more worthwhile to do this if I got an MCS automatic instead. Well, finacially, that wouldn't be any more worthwhile, but I am looking into it. I've read some of the most recently available info on the MCS auto, and it certainly looks like it'd be fun. I'll play around with options at the MINI configurator, and see what options I can do without to get one at a good price. Anything over $400 a month would likely be too much, which puts me (I'm guessing at the moment) at an approximate maximum MSRP of about $24K. Of corse insurance would be more, and that might be a deal killer right there.

Someone mentioned a concern about the Space Gray cloth seats they have recently ordered. The leatherette/cloth/leather debate is one that can only be properly answered by each individual MINI buyer. The Space Gray looks real nice. The two-tone look is something I've always liked in auto upholstery. The threading for the gray part of these seats is however, rather fine, and various objects...like a broken fingernail, or other such things...can easily catch on the material, causing it to fray easily. It's also very light in color, and thus starts looking dirty quickly, although it does clean up fairly easily. The material, for those that smoke (like...er...me, sadly), burns easily compared to the Panther Black cloth, and shows much more readily due to it's much lighter color.

No, I've not put big cigarette burns in my upholstery, but very small ash marks are present, and can only be corrected using special methods. Even if you don't smoke in your MINI, which I would hope most of you don't, the Space Gray cloth is very much more at risk to discoloration from environmental elements than the other cloth, leatherette, or leather options available. Fabric protection treatment can be used when I first get the vehicle, but such treatments are not a miracle solution to the problem of stains and thread wear. If you feel you can deal with such issues, then go for it. Otherwise, I'd look to another upholstery option if I were you.

Strangely, I've not heard back yet on my purchase information request to Classic MINI in Ohio. Do they sometimes take awhile to answer e-mails?

As to taking a depreciation hit... Assuming you will eventually sell your MINI, to buy another one or some other car, you WILL eventually take some kind of depreciation hit. Yeah, I agree though, I'm not looking forward to paying taxes and such all over again, especially so soon. But, as long as I budget for it, it's just a price I'm willing to pay for starting all over again on the right footing.

 

Don't forget, there's also going to be a completely new MINI lauched in a couple of years time. Your CVT replacement (if the current style MINI) will also take a "big" hit in resale value....people always want the latest-and-greatest (irregardless of whether it's actually greater, or not ).

Also, if you go the Cooper CVT route and not MCS auto, this may also be a gamble for long-term resale value; that was never an issue in the past with the CVT being the only non-manual option.

 

I had erroneously thought NV didn't have sales tax. Just looked it up and it's in the 7% range! I thought only CA had such outrageous pickpockets in the Capitol!

I know you've gone over this before, Billy, but something doesn't compute. You say you can't 'afford' the $450 payment, or to reupholster your car, but you CAN afford to spend a minimum of $1,700 in sales tax, in addition to the depreciation hit you'll take on the car. The sales tax ALONE 'covers' the delta of 22 current payments (@$75/pmt, assuming the new payment is $375), and that is paid over time, not all up front.

I'm hearing conflicting arguments. On one hand you say you will be in a BETTER financial situation (or at least feel better?) with a new car since you won't be 'paying' for the markup or extended warranty (which are both sunk costs.) But then you say that it's not about the money.

While most people eventually sell/trade in their cars, it's common wisdom that the first three years are the highest for depreciation. This MAY not be the case with the MINI (if you act NOW), I'd say in six months time the market demand will be even less than it is now (re: markups and resale values) as more cars are delivered, especially now that the MCSa gives more options to automatic tranny purchasers.

If you feel bad about the car, then maybe it is worth any amount of money to get out of it, but given that in Autotrader 2005 Yellow CVTs are LISTING from $20-$24K, you're looking at a $4-5K 'feel good' cost. I can get a whole lot of good feeling from spending that kind of money! In the end, it's your money, but please realize the full costs of what you're doing.
Seriously, I'm in finance and I'd be happy to work with you privately to do what if scenarios on your different options. Feel free to PM me if you'd like.

 

You're right, it is a "feel good" cost. Purchasing a car in and of itself is almost always an expenive "feel good" expense, but...heck, we do it all the time, all of us, one way or another, at one time or another.

That being said, my monthly budget is important to me. So, getting the "feel good" aspect, with a reduced monthly outlay, has it's own attraction in and of itself. I'll be going about things a little differently this time, so I'll have a slightly different, somewhat more pleasing, set of options as well...at the lower monthly payment. As opposed to the current higher payment AND the added expense (read: credit card debt) of doing some upholstery, wheel, and muffler modifications. Realistically, at my current budget, with my current payment, I'd probably just never get around to doing such things.

You can see however, how this resale value issue is definitely important, and something of a make or break issue to the whole idea. I've talked to Julie over at Classic MINI of Ohio, and my refundable deposit would be $500. (I also have spoken to her about dealer installed options pricing, an important and easy to forget subject.) So, I can have the car on order, and if it turns out that I can't sell my current MINI quickly, at a good price, than I'm not really out anything.

If present resale value is high enough, I could put the order in now...for a delivery date about two months from now (not bad for not paying MSRP). However, I think I'll need to pay down the car more, to a point where I could sell it off at about $21,000, though MSRP was about $24,000, so that means I should set up a delivery date for some time in say...November. That's what I'm planning on. But...if I could really get $23,500 for my MINI, I could obviously set up to sell the old MINI, and take delivery on the new one, for about June...or so. (I doubt that's possible, so I'm not planning based on that.)

Anyway, as can be seen, having a more solid idea what the resale value will be at the time of transition, be it June or November (or even April!), is rather important. That's all I'm trying to do here, is get a very good idea what that resale value will be, so that everything else can be worked out from there. If the resale value can't at least pay off the remaining car loan amount, then that's it, NO deal. If it can, then great, fine, cool, this is what I'll do. If it turns out to be higher than the pay off amount...well, heck, that'd just be a nice bonus, though I'm not planning or shooting for that. (I will try to get more than the pay off amount, at time of sale. That goes without saying.)

So, yeah, it's a dissatisfaction issue, that I can apparently correct without much felt financial harm. I'll be making monthly payments for a whole extra year beyond what I would have otherwise been paying. I've been making a car payment, of some kind or another, for more than ten years, so that's nothing new to me. (Divorce, and other various life changes, tend to stick a guy with apparent car payments for life. That being the case, I should at least be happy with what I'm paying for. Otherwise, what the hell am I paying for?)

 

P. S. It's not so much that my current car payment is too high, though it is certainly HIGH...considering the fact that I'm dissatisfied. I can afford to pay what I'm paying now, or I would never have bought the car in the first place. Paying a lot of money for something that brings one joy isn't such a bad deal...if one is getting the joy, and one hasn't spent more than one can for the privelage, otherwise...it's not much of a joy.

P. P. S. Obviously I'm something of a perfectionist when it comes to my joys and pleasures in life (honestly, I get very few of either). If I wasn't, this would be much less of an issue for me, and would've cost me less in the first place. I do care though, so it does matter to me, and so I'll take action on this matter if I can. Which gets us back to the whole reason for this thread coming into being...based on my circumstances, will my car's resale value be enough to do this one simple thing?

 

Oh, you've smoked in your MINI? Make sure you've adjusted your resale expectations accordingly. Personally, I'd expect that to cut down on the number of potential buyers and the sale price--no matter how you attempt to remove signs from the ashtray, seats, roof liners, etc. It is just not the same.

 

Do a google search for leather seats. You will find many aftermarket companies that offer leather seats. You remove the seat from the car. Remove the original "skins" and install the new leather "Skins". It is not that difficult! Saturday or Sunday project at best!

Or better yet join the local MINI club and offer your MINI up for a tech session I am sure that other MINI owners would be happy to see such a demonstration.

 

I don't use the ashtray in my MINI, as ashtrays really tend to stink up a car, and I didn't want that happening...despite my vice. I also only smoke with the sunroof open (which is why I got the sunroof), and the windows down, and I don't use the recirculate air setting at all. Smoke gets carried out of the car pretty well, though there is always some that gets left behind. I also do pretty well about avoiding cigarette burns, in my car, and everywhere else, though I'm aware some people just can't seem to do that very well at all. (I don't know what's up with such people. It's not that hard to do.)

If I'm going to sell the MINI, I think I can give her a good shampoo, and clean the air system if necessary, well enough that most people wouldn't likely even notice. Some people will, I suppose, and I guess those will just not be the one's buying my MINI. I have occasional passengers comment on how surprised they are that they see me smoke sometimes in my car, because they say the car doesn't smell like a smokers car. I think I'll be ok when it comes to that. I'm more worried about getting car dings, and such, in the meantime. I don't want to have to spent too much getting the car "like new" looking again for the prospective buyers.

 

If you smoke in the car, and don't use the ashtray in the car...

please don't tell me you use Nevada as your personal ashtray.
Please tell me you don't throw your lit cigarettes out the window.

 

Oh boy, I'm in trouble now!

In the city, yes, I sometimes DO just dump the cigarette butt out the window. Usually, however, I use something like a soda can, with maybe a little soda still in it, or water, and use THAT as an ashtray. The optional drink holder, that sits high up on the dash, works well for that, though there are certainly plenty of other cup holder locations in a MINI to choose from.

At the end of the day, the soda can, and all the used cagarette butts in it, just gets thrown away...in a trash can, of course!

I had bought a small, closeable, half-smoked butt holder and extinguisher, so that I could save a half-smoked cigarette that would otherwise get wet dumped. In practice, the idea doesn't work out well, as such things usually require the use of two hands, and I've never found a good place to put the little closeable tube...where I can get to it readily, and it won't roll around out of reach, and otherwise add to my MINI's rattle issues.

That means I go through more cigarettes than I might otherwise, but that's a small price to pay for my MINI motoring experience, don't you think? Of course, I could always just quit (easier said than done), but you might as well ask me to drive a Honda (perfectly fine cars). Neither one of which is going to happen! (At least, not anytime soon.)

 

I've had my MCS for about a year now, and AFAIK it doesn't have an ashtray - - or maybe I've been too busy enjoying the driving experience to notice.