So, it has come to this.

My plan from the very beginning was to sell my 2004 MCS and update to a 2008 MCS--knowing the whole time that I would sell the '04 months before I would lay sight on an '08. No big deal, right? The rationale from the beginning was that an '08 would be more valuable in the long run, potentially more reliable than an '07 (although that is up to some debate--especially at this point in the build year), and the longer I waited before delivery, the more cash I'd have for a downpayment.

So far, the plan has gone flawlessly. I placed the '04 up for sale in August and placed my name and a deposit down a week or so later for an '08. The MA's "best guess" was that I would take delivery sometime early March (given that others had already signed up for an '08 too). I sold the '04 a little over a week ago, cash in the bank. In the 9 days since the '04 sold, no major problems have arisen now that we are a 1-car household (but tension can easily build). That is not to say that I don't miss the '04 or having my own vehicle (because I do), but I went into this situation with my eyes open.

Today I find myself "jones-ing" for the excitement (and freedom) of the MINI. Six weeks ago, I would have told you absolutely, I am waiting for an '08. Now I find myself waivering. Should I fall to temptation and pull the trigger ASAP, or should I stick the plan, Jack?

Several thoughts run through my mind...

Pro '07/Con '08:
1. Probably a lower price (how much lower is up to debate, but I don't see MINI/BMW raising the price several K in one leap--at any rate, we know they won't go down in price).
2. I get it SOONER!
3. It's unlikely that anything substantial will change between late-build '07s and early-build '08s--yes, I know about the USB connector and the auto-up.
4. Did I mention, I would get it sooner?!

Con '07/Pro '08:
1. I would have less money to put down on the '07.
2. I wouldn't get the cool new USB and auto-up features (yes I am getting the Bluetooth option).
3. Build quality will likely improve with time (even during the next few months).
4. Even though I will get it sooner, it may only be two or three months sooner.

I guess what I am looking for is some insight and reasoning, not a debate. People who were/are in the same predicament, how did come to your decision, and do you regret it (even a little)?

 

Since it s pretty late in the year already, if you can hold out, go for the 08. I was planning on selling my 05 MC for an 08 MCS but right now the dollar cost difference seems higher than what I wanted to spend. If I were you, I would hold out for the 08, down the line, it will have a longer value compared to the 07.

 

I weighed the decision about getting an 07 vs. waiting for the 08 Mini. I didn't see enough of a difference to justify waiting in line for the 08. I am not sure how much they will go up. By ordering my 07 when I did, I got the new cold weather package which includes the power fold mirrors. I was very happy with that. The usb is not that important to me. I haven't given much thought to the auto up but I understand the addon is out there. It seems to me that the "rolling schedule" BMW seems to have concerning introducing feature changes during the production cycle eliminates the need for me having to wait for 08 for a more "reliable" car. I know that 07 was the first year for the R56. From my reading of the forums, I find that the R56's have had fewer out of the box problems identified than the earlier models.

That said, it is your money. I don't think there will be too much impact on resale value on an 07 vs an 08. It may offset the increased price of the 08. I just don't know. I'm glad I ordered my 07. I can't see waiting 5 more months for my baby.

 

I was in your boat. I decided to order a 2007 based on cost concerns. Because I loaded the car up (35,000 + Tax/License) I figured that the slightest increase in options cost plus an increase in base could cost me an additional $1000 to $1500. Then, throw in the devalued dollar; Mini has eaten this cost over the last year. I can't see them continuing to due so. And, I plan on keeping the car for many years so the resale on 2007 vs. 2008 makes little difference.

Hope this helps.

 

The only issue really that I see for you is the full year of depreciation you'll get in just a few months time.

Aside from that, as long as you can afford to do it now and it'll make you happy, then do it!

 

I was in the same position and the day I test drove it made up my mind for me. I am so happy with my mini that I'm glad I didn't make myself miss out on these few more months. I got the new door sills and cruise display so I was pretty happy. Also I have heard auto-up may not be until later in the 08 production (dont quote me on that its merely hearsay. Plus someone made a valid point on another thread that although the 07 will be a year older it will have low mileage relative to early 07s where as the early 08 will have higher mileage therefore making resale about the same. Come on come on just do it! You know you want to, you just need someone to give you the push or you wouldn't be asking so ::PUSH!::

 

[quote=Chuck W.;1791981]Then, throw in the devalued dollar; Mini has eaten this cost over the last year. I can't see them continuing to due so. quote]

I agree. The dollar has taken an incredible hit in the past several weeks. I travel a lot internationally and it hurts. I mean, the loonie is now worth more than the dollar!

The Wall Street Journal cited that BMW has raised the price of the 3 series by a whopping $5k just over the past couple of years. I dont see BMW continuing to eat the dollar losses. That said, if you can look at the MC or MCS and see its great build quality at say $1500 more and it if you still think you are getting a good deal, then wait.

 

You KNOW there will be a price increase on the 08. If you get a stripped model you are only talking a few hundred dollars. Most options will be going up in price too so the more stuff you put on the higher the price difference between the 07 and 08.

Perhaps that would be offset by resale value in the future but if you got one now you'd be motoring now.

 

If you need a car now, buy 07. If you don't need a car right now, wait. Why did you sell your 04 so early? Did you buy CD with it or something?

 

I ordered because my intentions are to not sell the car off any time soon, and as what someone else said, after several years, 1 model year is not going to make a huge difference in price. If you are the type that needs a new car every few years, then you should wait. Also, the USB and Auto up arent even guranteed for the 08 model year... lets not forget that many other countries get features that we dont get here in America. Also, with the economy shifting, i can assure you the price WILL increase and it looks like with a well equipped mini, the price increase may be significant.

 

After totaling my MCS a few weeks ago I found myself faced with the exact same predicament. Especially given that in waiting the 6 weeks for my ordered MINI to arrive, the 2008 models would be going into production very soon thereafter. What changed my mind is my MA making me an amazing offer on an '07 which just arrived on the lot. Not to mention being without a car + living off campus (I'm in college) has turned out to be much harder then I expected.

Even with my decision being 90% out of impatience, I don't regret it even a little bit. Although you should probably ask me that question again after the 08's come out. It'd be so much easier if we knew for sure what's going into them, but since all model year changes are hearsay as of now, the decision can be a hard one to make. I'm not concerned about resale value in the least. Between my MA knocking $750 off MSRP (doubt he'll do that on an '08), throwing in almost $300 in accessories, and the fact that it's like 99% certain that 2008 prices will increase, I'm sure I've only gained financially, not lost.

But I will be kicking myself if some sort of really cool change which no one speculated on is introduced for the new model year. Though I doubt that will happen... Hope not. Best of luck either way - you're getting a MINI Cooper S, so you really can't go wrong.

 

Looking at your signature with the options listed, you got a great deal.

 

Thanks for all the insight everyone. I am still on the fence, but I see a lean in the near future. I just hate to think I am so weak as to falter after "phase one" of my master plan!--I never envisioned myself as impulsive.




I sold my '04 after owning it exactly one year. I bought it used last year and since then my income has changed such that I can afford a new custom MINI with all the options I want. It didn't hurt that the r56 has many attractive new features too!

Here's what I am looking at buying:

2007/08 MCS

Manual

BRG w/white roof or Dark Silver w/white roof---no stripes

Cold Wx Package

Premium Package

Sport Package w/17in Webspokes

Sport Suspension
LSD

Park Distance Control
Nav System
Bluetooth Mobile Phone Prep
Comfort Access
HiFi

Leather: Lounge Carbon Black
Anthracite Headliner
English Oak Surface

Rear Fog Lights (hopefully!)

Overall, I pretty well-optioned MINI.

 

It looks like if I were to "pull the trigger" today, it would be here by the end of December.

 

I went for order-now-rather-than-later too, although my regular commuter car gaining an unexpected block crack (pushing our 150 mile daily commute into the 5.9L 15MPG Durango) helped that along a bit.

Also, from what I understood from my MA, '08 features were going to start into the manufacturing line near the end of the year- although he wasn't able to give a specific date. The best guess was Nov-Oct, but that was a definate 'maybe'.

Some pricing changes have already hit the online configurator, but it's mostly options moving around a bit- the cold weather package seems to include the power folding mirrors now, for instance.

 

Let me get this straight...you're looking for insight and reasoning here?! But seriously, I'm not aware of any earth-shattering changes for the '08s. Judging from the differences between the first '07s and the recent ones, I'd say that Mini doesn't hesitate to implement mid-year mods, making a year model change perhaps less significant. So far it seems that my '07 is a big improvement over the '06 I traded in. (I'm really not going to get a new one every year...just had to upgrade from a MC to a MCS!) The over-all improvement in build quality is definitely noticable. I say if you can get your hands on an '07 that you like, go for it!

 

Buy today, enjoy the sH** out of it. Worry about resale later! Who know if any of us will still be here next March. Doesn't sound like they're making any earth shattering changes to justify paying more for the same car. What you make in resale value will be a wash with the increase in 08 purchase price.

This is a no-brainer to me! MVH .02!

 

I'd go ahead and order now. I am going to order in time (had best hurry up, huh?) to get an '07 if possible if I do decide to get one. Right now I am leaning toward going ahead... I think. The weak dollar made up my mind already as to what year model I would want. No doubt there will be a price increase that is substantial for '08. Now I just have to sell my motorcycle and I can order- anyone want a 2006 Triumph Bonneville T 100? You can park your Brit Bike next to your Brit car, would be verrry cute....

 

Resale value will be a wash at best. Pay more get a little more back. I think the cars themselves will be basically the same. The big stuff for the 08 won't be here in the USA (and I don't want the energy saving gizmos thank you). So unless the auto-on thing is big to you why wait? It can only cost you money.

 

The question is: how much is driver's side auto-up and a USB connection worth to you?

If you're going to be keeping it for quite awhile (and it sounds like you are), then by the time you get around to selling it people are going to be looking at mileage more than model year anyway. You're going to have an '07 w/ the mileage of an '08, so it's going to be pretty even.

Looking at your specs list, that's one seriously optioned MCS. If the pricing on the '08 convertibles is any indication you're probably looking at a modest (~$500ish maybe) base price bump, then a random sprinkling of option price increases. That might not matter much on a stripped down car, but on one as well appointed as yours is going to be that could easily start adding up fast.

You want the car now...

Get the car now....

Just hope your dealer still has '07 production slots left.

 

Yea, it's definitely not something I could pass up! I must say my decision of buying now opposed to waiting would have been a lot harder if not for the deal my MA worked out. Although even if you're to buy an '07 for MSRP it's still going to be cheaper then an '08. I'm sure it will be next to impossible to get 08's for below MSRP for quite awhile, not to mention that both the base price and individual option prices are expected to go up a good bit.
Buy NOW, you know you want to! Although with it being so late in the middle year I wouldn't budge on getting my MA to knock at least a couple hundred off MSRP.

 

The only reason I can think of to get an '08 would be if you decided to get the Clubman. (which I am waiting for) If i was not gonna get a Clubman I'd have already ordered the '07. Go for the '07.

 

+1

I'm selling my '03 Jetta when my MINI arrives. I bought it in Dec. '02, which means I got hit immediately with the full depreciation, but I've kept it almost five years. Now I have a low mileage '03, and the benefit in my resale is definitely noticeable. I've applied the same thinking to my new MINI. Long-term is more important to me.

I weighed the same '07 vs. '08 decision, finally deciding on an '07. Although I wanted USB, I never planned to buy the Bluetooth option, so that didn't factor. I wanted the auto-up (and I'm still hoping it might appear early in a week 40 build), but it wasn't worth the inevitable price increase for '08. That became the key for me.

As for saving more money, I assume whatever financing you get would allow you to pay extra without an pre-payment penalty. I'd just pay the extra that you're planning for the down payment each month until you have the equity you want. Since I don't know your specifics, it's possible that the size of the downpayment could affect your interest rate, but I doubt it. Length of loan is generally more important. And interest rates for new cars are good now.

Good luck.

 

And now I'm wondering why I'm still planning on getting an '08....

Oh, right. I haven't decided between an MC or an MCS.

 

I was in the same predicament about a month ago. I ordered a '07 ( should make landfall at the VDC tomorrow)for many of the reasons listed in responses to your thread: upcoming price increase, joy of having it sooner rather than later, not many changes for '08, and fuel $avings versus my present vehicle. All this outweighed a slight resale advantage for sure.
Buy now, you will not be sorry!