Mini prices.

peterg1965 · 11-26-2011, 01:23 PM

A lot of interest in Minis at the moment on here. I took my wife's Mini Cooper auto for its first service last week (two years old and 10000 miles) and enquired about trading in for another new one.

At the same point in her previous Mini (October 2009) we traded that car in, at 20 months, and drove out in the same car with no additional money and the monthly payment was the same. This time, we are told that I would need to put £1000's in to get a new one, we are currently £3000 in negative equity! Car valued at £9500 and owe £12500!! It was an £18K car in November 2009. Looks like we will be keeping the Mini until the end of the of the contract and handing it back in!

Salesman said it was happening all the time now, the Mini novelty value has worn off and the cars are plunging in value. A Mini Cooper S vert lost £650 this month according to Glasses Guide! Mrs still wants to stay in a Mini, but they ain't the proposition they once were.

jonw · 11-26-2011, 02:53 PM

I think the Mini bubble of decent residuals is long gone.
I think they've diluted the brand a bit as well with all the different variants they now do.
That new coupe looks plain daft.

Vaheed1 · 11-26-2011, 04:36 PM

I was looking into buying a stop gap for a couple of years in the form of a 2007-2008 mini cooper S - for precisely the opposite reason of what you have just said - until my brother informed me of the mini's current poor residual values.

So it's left me in a bit of conundrum. At the moment, for my budget (sub £10k) The Mk5 Golf GTi and E60 535d are looking to be the better options.

p1tse · 11-26-2011, 05:17 PM

having looked at used cars like autotrader, there are so many of them in all variants, spec etc.

they are also pushing new car deals with mini 50:50 which is 50% deposit 50% interest free for 2 years or hand car back

Kerr · 11-26-2011, 05:58 PM

There is too many out there now.

Saturation point was always going to come.

You can only look and see what similar cars are going for.

F31-340i · 11-27-2011, 02:04 AM

The flip side of this is that they are now relatively cheap and IMO good value 2nd hand for what you can get.

davyk31 · 11-27-2011, 04:37 AM

They have been pre-registering a lot of cars this year which never happened with Mini before. I looked at a pre-reg Cooper SD a few months back, was £19500 for a car that was £22500 list and 10 miles on the clock. Glad I didn't jump into it to be honest as I reckoned a few more SD second hand in 6 months or so will make them better value.

11-26-2011, 01:23 PM	#1
peterg1965 Brigadier General 164 Rep 4,190 Posts Drives: F30 335d M Sport, F15 X5 40d Join Date: May 2007 Location: The place of dark satanic mills, UK iTrader: (0)	Mini prices. A lot of interest in Minis at the moment on here. I took my wife's Mini Cooper auto for its first service last week (two years old and 10000 miles) and enquired about trading in for another new one. At the same point in her previous Mini (October 2009) we traded that car in, at 20 months, and drove out in the same car with no additional money and the monthly payment was the same. This time, we are told that I would need to put £1000's in to get a new one, we are currently £3000 in negative equity! Car valued at £9500 and owe £12500!! It was an £18K car in November 2009. Looks like we will be keeping the Mini until the end of the of the contract and handing it back in! Salesman said it was happening all the time now, the Mini novelty value has worn off and the cars are plunging in value. A Mini Cooper S vert lost £650 this month according to Glasses Guide! Mrs still wants to stay in a Mini, but they ain't the proposition they once were.
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11-26-2011, 02:53 PM	#2
jonw First Lieutenant 16 Rep 348 Posts Drives: M6 Comp Gran Coupe & X5 MSport Join Date: Jul 2011 Location: North West iTrader: (0) Garage List 2011 BMW 530d GT MS ... [8.34]	I think the Mini bubble of decent residuals is long gone. I think they've diluted the brand a bit as well with all the different variants they now do. That new coupe looks plain daft.
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11-26-2011, 04:36 PM	#3
Vaheed1 Major 62 Rep 1,112 Posts Drives: E90 330d M Sport Join Date: Mar 2010 Location: Newcastle Upon Tyne iTrader: (0)	I was looking into buying a stop gap for a couple of years in the form of a 2007-2008 mini cooper S - for precisely the opposite reason of what you have just said - until my brother informed me of the mini's current poor residual values. So it's left me in a bit of conundrum. At the moment, for my budget (sub £10k) The Mk5 Golf GTi and E60 535d are looking to be the better options.
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11-26-2011, 05:17 PM	#4
p1tse Lieutenant 28 Rep 553 Posts Drives: Need more space Join Date: Jul 2007 Location: England iTrader: (2)	having looked at used cars like autotrader, there are so many of them in all variants, spec etc. they are also pushing new car deals with mini 50:50 which is 50% deposit 50% interest free for 2 years or hand car back __________________ iDrive Pro Sat Nav with a mind of its own!
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11-26-2011, 05:58 PM	#5
Kerr Brigadier General 112 Rep 4,021 Posts Drives: BMW M235I Join Date: Dec 2010 Location: Aberdeen iTrader: (0)	There is too many out there now. Saturation point was always going to come. You can only look and see what similar cars are going for.
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11-27-2011, 02:04 AM	#6
F31-340i Colonel 156 Rep 2,475 Posts Drives: BMW 340i Touring Join Date: Apr 2007 Location: ... iTrader: (1)	The flip side of this is that they are now relatively cheap and IMO good value 2nd hand for what you can get. __________________ 340i F31
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11-27-2011, 04:37 AM	#7
davyk31 Major General 1042 Rep 6,946 Posts Drives: Macan GTS :-) & F40 M135i Join Date: Sep 2009 Location: Northern Ireland iTrader: (0)	They have been pre-registering a lot of cars this year which never happened with Mini before. I looked at a pre-reg Cooper SD a few months back, was £19500 for a car that was £22500 list and 10 miles on the clock. Glad I didn't jump into it to be honest as I reckoned a few more SD second hand in 6 months or so will make them better value.
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