Basically I'm in a delima, I owe 16k on my 08MCSa and I have 43k miles, I'm debating on either picking up a new 2011 MCS(non auto) or adding on the warranty, I was just going to add the warranty but now I can get a new one at invoice. Thoughts on what I should do? I just had the turbo replaced and I'm worried if I don't get the warranty extended or pick up a new one I will be sorry later on.

 

I'd wait since the f56 is close

 

I would wait and try to pay off more of that car loan - unless you really hate the automatic. You already have an R56 so I would hold off until the re-design is here. Maybe get the warranty or start saving in a "my turbo died again" fund.

 

From a strictly financial standpoint, I'd say keep what you have. Owing $16K still, you're probably upside down, at least from a trade-in standpoint. You might be able to develop a little equity in a "private party" sale, depending on your local market. Of course it really just comes down to your desires and your financial health. As my wife frequently reminds our son or daughter, "whatever you can afford".

If you are worried about the reliability of your MINI outside of warranty, has it been problematic or relatively problem free? If the later, it's probably going to remain so. There's no ticking time bomb waiting to explode once it gets past 4 yrs or 50K miles.

I am constantly amazed at the number of folks willing to make big car payments every month, but not willing to pay for an occasional repair outside of warranty. If that's something that keeps you up at night, buy the service contract, but know that typically several expensive items, such as wear & tear items (hoses, belts, tires, brakes, etc.) aren't covered and neither are emissions control issues - ask me how I know.

Best of luck doing what you are most comfortable with.

 

I had been struggling with this myself as I have a '09 JCW Clubman that has 44k miles. I'm still confused on what to do. If I could sell it for $25k I could potentially pocket $10k and put it toward an '11 or '12 and my payments would remain about the same.

One of the things that stops me is whenever I build a new one, it's nearly identical to the one I have! Maybe I'd shoot for the leather seats, but that's really the only change... That and my builds are always over $40k!!

As you can see, I tend to put a lot of miles on mine. I guess I'm afraid later down the road (in 1-2 years) when I do decide to sell, she'll be worth squat due to the high mileage.

To sell now or to sell later? That is the question... For now, I've decided to keep her. Good luck with your decision!

 

if u recently replaced the turbo, then it should be cover for 2 years. right?

 

Yeah I'm pretty sure any work done through MINI is 2 year warranty... Unless you chip a valve or something crazy and it flies into your turbo, and breaking your turbine... Or oil sludges and the bearing goes capooie. Then yeah it's covered lol.

 

I think the issue for a lot of us in this situation is paying the monthly car payment AND being willing to pay for the occasional repair outside of warranty.

I am sure it is just paranoia from lurking on the forums, but this is the first car that I have really been worried about something major going out before being paid off. My 2008 MCS has been great so far, only 23k miles, but I bought her used at 18k miles last year. So far just some minor stuff done at the dealership for free, as well as the timing chain tensioner replaced. I also found out that the previous owner did not have the oil changed early, and it was done around 17,500 miles, when they turned my MINI in from the 2 year lease...

So while I *may* not have any sludge issues leading to turbo failure, and I *may* not have to pay $1000 to have the carbon buildup cleaned out (just put on a BSH OCC and boost tap), and I *may* not have my water pump go and grenade my motor with it, I have scared myself enough to no want to hazard having a car payment and no warranty. I am not saying that any of those things are going to happen, just makes my MINI warm fuzzies a bit queasy.

To the OP, if the extended warranty is a good one and seems to have good coverage, I would think it better to get that and keep your current car, than get a brand new one. Even at invoice, and if they gave you exactly what you owe on your current car, you will still be paying something like $6,000 - $7,000 more than just getting an extended warranty, right?

 

add the extended warranty and pay that little hooker off. Just clicked over 50k on my 2008 and the warranty is still just as sick.

 

Get the warranty and keep it. I should have got it but did not. Within months of my warranty expiring had to lay out 5k in repair bills from everything through Chain tensioner repair to burnt valves from carbon and not to mention carbon cleaning and busted turbo oil line. Unbelievable. If you dont or arent willing to get the extended warranty sell the beast and get something more reliable.

 

I am also debating whether or not to keep my 09 Mini cooper hardtop S.. Right now it's on lease and I have about 6 months left. The fuel injector was already replaced within the first year by the dealer. Do you guys think i should keep it?

BTW what other cons appear with my particular 09 model?

Thanks

 

I'm having the same dilemma. Just shelled out $1700 for two repairs and extended warranty at 60,000 mi is 3559 plus tax. They will give me $14,000 to trade in for newer model and I would pay about $10,000. What to do?

 

Oh, it's an 07 and paid for.

 

I just had this dilemma myself. I had an '09 MCS with just under 35k. I owed under $17k and got the bug for the HK sound system in the newer models, along with some other bells and whistles. When it all came down to the wire, I traded on a 2011 MCS that had been an order that a customer returned after 667 miles (only to reorder basically the same thing but in JCW form). Dealer offered me $18k on trade plus $1500 off MSRP.

 

you could easily sell it for around 16k. I would sell it and get a newer one if you really want a stick version. If you don't really care, then extend the warranty.

 

'08 MCa PAID for, after 3yrs., 3mo., and 3wks!! It is a GREAT feeling...BTW!! She is also @ MoP every 6mo. for maintenance and piece of mind...She's a keeper!!

 

Here's my answer... (remember I'm old and cranky)

Is your 401K or IRA fully funded?
Do you have about 6 months pay in liquid savings?
How secure are you in your job?
How much monthly debt do you have?
Kids?
Older parents?

Ask yourself those questions before you decide to take on some more longer term debt... If you fell good about your situation, buy the new car. They smell good, and they come with a warranty...


Most people will never get thier money out of an extended warranty. They are big BIG money makers for the company. Most people run out of time, not mileage.

 

Sounds like the Suze Orman show or Dave Ramsey...good real advice though.