Last post on Nov 22, 2013 at 6:14 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
MINI Cooper, MINI Cooper Clubman, MINI Cooper Countryman, Coupe, Hatchback, SUV
#1222 of 1499 2007 with low mileage or new?
Jun 09, 2009 (6:45 am)
Love the MINI - but agonizing over which to buy:
2007 mini cooper s convertible with auto, heated seats, CHILI RED, but cloth seats with just 3k miles (checked carfax no problems) for $24.9 OR
2009 mini cooper s convertible with auto, heated seats, PEPPER WHITE which looks a little blah, though adding stripes... and a few other options I don't really want, leatherette for $30k
I've always been lectured about BUYING (which I"m doing) a New car due to depreciation once you drive it off the lot, but the used minis I've looked at -with high resale value - are pretty expensive too...opinions?
#1223 of 1499 Re: 2007 with low mileage or new? [mymini]
Jun 09, 2009 (12:43 pm)
Buy the red one. Who wants a pepper white MINI. You'll hate it. And $6,000 more. No way. And resale on the red might be better than blah white. My leatherette seats are already hot and I feel damp when I get off them. I wish I had cloth. Let us know what you do. I vote RED convertible. Cool!!!!
#1224 of 1499 fait accompli
Jun 09, 2009 (1:36 pm)
Went back to dealer with husband and saw pepper white with stripes...liked it much better...hubby doesn't like red...so pepper white and new it is. Thanks for your advice though - picking it up in the AM and am I ever excited.
#1225 of 1499 Chicago area mini dealers
Jun 16, 2009 (8:41 am)
I am thinking of getting a Clubman some time in the next few weeks. There are 3 dealers in the Chicago area and I was wondering if anyone has had any good or bad experiences they would like to share about any of them. I think I'm going to the one out in Schaumburg tonight to take a test drive. I have no time restraints on when I need a new car, it's really more of a quarter-life-crisis. As far as pricing goes, what are people giving in this market for a new Clubman? I refuse to pay MSRP.
#1226 of 1499 Re: Chicago area mini dealers [m050120]
Jun 24, 2009 (5:19 am)
I bought a 09 Cooper S W/auto, weather, and premium from Schaumburg min (Patrick). As I posted, I got a $1000 discount if you canít get better deal let me know.
#1227 of 1499 Re: Chicago area mini dealers [m050120]
Jun 25, 2009 (8:33 am)
Why are you being so cheap? Just pay MSRP.
#1228 of 1499 Re: Chicago area mini dealers [howyjrenld]
by kyfdx@Edmunds HOST
Jun 25, 2009 (2:28 pm)
The whole point of the Prices Paid forums is to get information.. so, the consumer can negotiate a better deal..
Cheap is what we are all about....
#1229 of 1499 SoCal Mini purchase
Jun 25, 2009 (2:34 pm)
Have been silently following this forum for sometime while mulling a purchase of a Mini Cooper S Convertible and wanted to share some of the experience.
The dealer did not have any configured as I exactly wanted (did not expect them to), but there was one that came close. Unfortunately they sold it just half an hour before I walked in to confirm a purchase!
They have been able to locate one that is close enough - it is on a boat coming into port in two weeks time and they are currently trying confirm that it comes to their dealership when it gets off the boat.
Price has been agreed at $1000 of MSRP plus floor-mats thrown in. They slashed $500 off right away (without even asking). I e-mailed them a day later asking for another $500 off and they agreed. Quite the hassle-free negotiation. And this wasn't even for a car on the lot. So I suppose there are deals to be had out there for MINIs.
Will update with the full configurations once I get confirmation that they were able to reserve it for me.
#1230 of 1499 $958 initial and $261/Month
Jun 26, 2009 (7:16 pm)
Dear car_man & kyfdx:
Is this a good deal
Copper HT :
MSRP : $20,300
Negotiated price : $19550
MF : .00230
3 year/30,000 Miles
$958 initial (Deposit + first month + DMV)
#1231 of 1499 Re: $958 initial and $261/Month [atrajan]
Jun 27, 2009 (9:06 am)
This has been covered many times before, so here goes again...
The Mini is one of a few vehicles that doesn't suffer from the same routinized and accountant-friendly depreciation formulas as the rest of the industry uses. In plain English, it suffers almost no depreciation on the vehicle itself(* see below) in the first few years.
Now, I put an asterisk there. This is the base model of the car/trim line - accessories or other options of course do depreciate and rather quickly. So a $20K Mini with 5K in add-ons is going to be worth about $19-20K a year later. So will a $20K mini with $500 in options. So the rule here is to get the one or two you absolutely need and reject the eye candy and frills.(plus it's good practice as you don't give the manufacturer loads of easy profit on mostly plastic bits and paint)
This of course gets back to the original problem, which is you have a vehicle that because of its desirability and low production numbers essentially isn't depreciating hardly at all if you've already done your homework and kept it as lean as possible to start. Leasing doesn't make any sense at all in such a scenario.
Consider that your initial down payment to start the lease is about the first year's entire depreciation. In 36 months, you'll have spent $10354 on the vehicle. That's half of its entire value. Try to find a used 3 year old Mini for even $15K. Good luck with that... heh. Note that that's half the depreciation of your lease payments and it's still unrealistically high. It's impossible in a Mini to get upside-down on your payments. This is more of a "free money" type thing when this happens.(which IIRC, only 2-3 cars currently are like this and this desirable, so basically it never does happen)
Therefore the "smart money" is to just buy it outright and haggle $500-$1000 under retail price if you can(first year's depreciation covered!) like a lot of people here seem to be able to do right now. Make the payments, drive it for 5 years, and sell it for 75% of what you paid for it.
$10,354/36=287.61 a month actual cost to lease.
$19,000(haggle)-$14,000(sell used)=$5000 in depreciation. = $138.89 a month actual cost to buy.(actually the normal $2-4K or so down payment in most cases would cover almost all of this)