[kugaman]

After reading the thread about UK discounts, I have to say, you would need big discounts....depreciation is as bad as any car I have seen in the price bracket.

After the problems my wife has had with hers, I thought Id have a look at the trade books to see what its worth. Any more issues and we will be changing brands, never to darken the Mini door again!

My wifes 65 plate 1.5 Cooper 5 door manual with Chili pack, Media XL, advanced bluetooth and a few other bits....
List price £20300 or so.
We got it for around £18000 after a lot of haggling.
CAP trade in (book) price at 2 months old and 1000 miles.....

£12800..........

That is absolutely abysmal. A loss of almost £7000 against list or £5000 against haggled price.

The same level of spec A1 1.4 SLine which would have cost us almost the exact same as the Mini would now be worth £14900.

So for two almost identically priced cars when new, the Minis depreciation is a major concern....

I dont want to enter into a debate about new cars losing value......Ive owned lots of them so I know how it works!

However, just thought I would point out that compared to its peers, the Mini depreciates horrifically!

I just hope that they can get my wifes car sorted out (drop it off to them AGAIN tomorrow morning) and that nothing else goes wrong with it! That way we might put the problems down to a bit of bad luck and keep hold of the thing, after all, its a really nice little car to drive!

 

[donnaj1dlh]

I do wonder if a lot of it is to do with the problems the F56 has encountered. Salesmen insist it won't affect residuals. C.R.A.P.
Unfortunately there is sod all we can do about it

I doubt I'll have much equity at the end of my PCP....had hoped for a couple of K

 

[Blat7Chris]

Not surprised by that. Most BMW dealers will want £3k under the sticker price of a used car, so if you got it for £18k new, it would need to be £17k second hand, therefore it's worth £14k max the day you drive it out the showroom. If you finance a car you are protected in a couple of ways. First are the PCP future values, or if you think your going to get nothing back, you can always hand it back when you have paid 50% (when evere that is). Finance tends to get it right, but you have to give the product chance.

I am guessing the real problem is you want the Audi, since your dealer is so far away and you have a poor job when they replaced the bonnet. I think you should have refused to collect the car when the bonnet was poorly replaced. I did that a few years ago when BMW couldn't paint a bumper properly. Also don't go way with the idea Audi is perfect. The last Audi I had needed a new steering rack every 2,000 miles, it had four racks in the time I owned it. Also VAG has been caught cheating the CO2 figures on some petrol cars, as well as 2016 diesels onto of all the Eu5 model problems. I have a VW diesel as well and that's lost loads in the last few months (£4K is my guess and that's 2 years old), but that looks to be a storm in a tea cup given the information coming through on the fixes.

 

[newf56]

Even the R56 had issues when it launched! All cars lose value after all well unless your wrap them in cling film and never drive them. Whats the point in that? The only cars that gain value are classics which lets be honest come with plenty of there own issues.

 

[kugaman]

Agreed,

We could easily have bought an A1 and had problems....equally we could have bought the Mini and had no issues!

Dont get me wrong, the Mini is a good car, certainly plusher than the Audi and a more refined drive...however, we are very disappointed at our first Mini ownership experience!

As I said above, hopefully, the car will get sorted and give us no more problems. That way we can keep it for a good few years, get our moneys worth out of the TLC pack and ride out the depreciation.

Just thought I would post this thread as I was frankly horrified at how savagely the car has depreciated when compared to its peers....

 

[donnaj1dlh]

Every car loses a shed load of money in the first few years.

I wonder if it's because they don't want the market swamped with nearly new cars when they could sell new ones? It's a shame for the who's situations change and have no choice though

 

[Jelster]

What did you expect ?

New cars depreciate the moment you put plates on it and drive it out of the showroom, if you don't want depreciation, don't buy new.

I've had my last few cars on PCP, which really works for me because I like to change my cars every couple of years.

You never know, you may actually on here and have something good to say about the brand

 

[newf56]

There are many more cars that lose alot more money than MINIs do. They have always held onto decent values since 2001 so its not to bad. Just bad luck with some cars which happens if push comes to shove and they dont put things right you have improved rights to reject the car over the new consumer rights laws that came into force this year.

 

[Steve07]

Always a ray of sunshine when posting your threads ...............

 

[newf56]

How do you mean?

 

[BristolMini]

I'm just enjoying the car for what it is.. a car. I was worrying a lot about values and mileage and all sorts, then thought.. You know what, I've got this car for anywhere between 2-4 years and it's the best car I've ever owned. Might as well enjoy it. Why wrap it in cling film, leave it in the garage and never drive it, out of fear of doing too many miles or causing it to depreciate too much. Why worry about the next owner and how much you'll get for it, it's yours now and you've got years of fun to be had in it.

It's like a phone contract. From the moment you get your new phone there's a better one out, yours becomes second hand, you pay over the odds every month over a few years for the privilege of using the phone. Then when you want a new one you turn up at Carphone Warehouse and they offer you £80 on your once £600 phone. You'll still happily take it and use the £80 to put towards your new phone, which will then not be the latest model within a few months and worth about half the price again.

We are all using our cars/phones everyday so I personally think we should be worrying more about getting the most out of them and enjoying them while we have them, rather than worrying about how much they'll be worth in years to come and what the next owners will think of them.

 

[opal]

Ive always done OK with my Minis depreciation wide so am surprised at the figure given by the CAP book. Most of the first years depreciation of a car is however in the first few months of ownership which is why I bought my F56 as a 6 month old demonstrator and saved £5000 or 25% of the new cost of the car. I traded in a 2012 Olympic edition Mini Cooper D bought as a demonstrator For £14000 (£20K New) and got £9000 for it in px for my F56. My 2012 Mini had done 66, 000 miles hard miles teaching learners in it and cost me £5000 in depreciation over nearly 2 years.
Personally I would never buy a new car unless I wanted a specific specification, intended keeping it 3 years or bought it on a PCP which factors depreciation over an extended peried.

 

[kugaman]

I fully agree with the comments about buying new....as I said, Ive had a fair few new cars so understand the depreciation issues.

I did think that securing the car for £2k under list might have helped overcome some of this....but maybe not!

I only posted as I was astounded at how savage the depreciation is for a car that lists at £20k new to be only worth £12.8k a few months later.....

My car is an S3. Bought new in March for £30k, currently books at £27k after 3000 miles.

£3k in 8 months is pretty good if you ask me, but the Mini at £7k in 2 months.......wow!!!!

 

[donnaj1dlh]

Car isn't an investment unless you're buying supercars ..... they're a mode of transport.

I enjoy my MINI as much as anyone else.....and you'll all know I can't praise my dealer enough, I just got a duffer in comparison. I hardly think all my contributions on here are unfair or unjust.............

 

[newf56]

I'm just enjoying the car for what it is.. a car. I was worrying a lot about values and mileage and all sorts, then thought.. You know what, I've got this car for anywhere between 2-4 years and it's the best car I've ever owned. Might as well enjoy it. Why wrap it in cling film, leave it in the garage and never drive it, out of fear of doing too many miles or causing it to depreciate too much. Why worry about the next owner and how much you'll get for it, it's yours now and you've got years of fun to be had in it.

It's like a phone contract. From the moment you get your new phone there's a better one out, yours becomes second hand, you pay over the odds every month over a few years for the privilege of using the phone. Then when you want a new one you turn up at Carphone Warehouse and they offer you £80 on your once £600 phone. You'll still happily take it and use the £80 to put towards your new phone, which will then not be the latest model within a few months and worth about half the price again.

We are all using our cars/phones everyday so I personally think we should be worrying more about getting the most out of them and enjoying them while we have them, rather than worrying about how much they'll be worth in years to come and what the next owners will think of them.

My thoughts excatly if you want an investment go to the dragons den. No one makes money on cars unless they are salesmen themselves simple as that!

 

[kugaman]

Well, dropped the car off to mini again today for a 3rd attempt at sorting the bonnet.....

Fingers crossed it will be done correctly and we will have no more issues! My wife is currently a bit disillusioned with the car and wants to get back to loving it again!

The salesman who promised us a full valet and tank of fuel when we came back in with it was around this morning but notably avoided us.....

As a total rebel, when we return the Countryman loaner we have been given, I am not going to put any fuel into it......Ive put more fuel in than I have used for the previous 3 loaners we have had......not this time! Im fed up as Im only using the fuel to keep returning to the dealers!

As I said, fingers crossed this will be an end to it! Really dont want to see the dealers again until the first service....

 

[Hurbert II]

For depreciation, try "large exec" or Limousine cars like 7 series and A/S8's. Fact of life. Mini's perform well in the grand scheme of things

Bugger all sympathy from me, caveat emptor. Surely you would have investigated depreciation before investing your hard earned?

 

[krs]

Long story short purchased a new MCS 3 door in Nov 14 for £23,500 after new engine gearbox turbo, wiring loom and 4 oxygen exhaust sensors later ..

Mini UK have taken the car back its value today 1 year and 6000 miles later was £18,650.00

Spec wise pepper white XL media / half leather / 18 inch wheels / parking sensors back and front

(See my post on discounts as to what happened next)

 

[kugaman]

For depreciation, try "large exec" or Limousine cars like 7 series and A/S8's. Fact of life. Mini's perform well in the grand scheme of things

Bugger all sympathy from me, caveat emptor. Surely you would have investigated depreciation before investing your hard earned?

sympathy not asked for nor wanted.....

Just a post based on facts that may surprise a few people.

 

[bjblyth]

Just a post based on facts that may surprise a few people.

For those who are doing research - so a great post IMO!