MINI Wins Again With High Residuals

Sections: Awards Dec 23rd, 2005 9 Comments

For the fourth year in a row the MINI has earned the highest projected resale value in the compact car segment from ALG.

BMW of North America, LLC has once again made a strong showing by winning the Luxury Brand Residual Value Award for the third consecutive year. MINI USA, a division of BMW of North America, has also won the Compact Car Segment for the MINI Cooper for the fourth time.

You can find the entire list below

[ ALG Residual Value Awards ] ALG

Written By: Gabe

dave

YESSSSS
GuessWho

Surprise! Not….

That is great news!
http://www.squirty.com/minis Kurt Collins

Showed this article to my Dad – he was complaining that his 2001 Jeep Grand Cherokee purchased new for $38,000 is now worth $13,000.

Kudos to MINI.
http://www.miniclubsusa.com Big-T

My dad purchased a 2004 mini for $19,000 and when my sister decided to crash into the side of a cliff, the insurance company gave him $21,000 for it. $21,000 to buy a nicer mini!!!
Osmodious

HA! Just try to trade it in and see what they’ll offer you…I want to trade mine in on a 2006 and they want to give me about $3k under what it really should be. And I’m not talking about Edmunds or Kelly…don’t even bother checking those if you live in the Northeast…the dealers around here use Galves, which is always at least $1500 less than the others.

You know, I don’t think any of us have ever complained about having to pay list price for our Mini’s…the only car I have EVER paid list for, by the way…but for them to try to make SEVERAL thousand on my trade as well? That’s just wrong. Of course, these days what can you expect…they know I’m stuck and they know they can let me walk away and sell the car to someone else.

Still, it would be nice to find a dealership of ANY brand that could at least PRETEND to not be sleazy…
David

Mr Osmodious, The residual values cited in all the recent articles are based on a retail price. If the dealer gave the trader retail value for the ‘old MINI’ what would the price to a subsequent buyer have to be? The dealer can’t give a trader the retail value and have any room for a sale that covers the cost of selling and produces profit. The solution is for you to sell it yourself, or possibly crash it into the side of a cliff as Big-T’s sister did and see what you get.
JohnD

This is great news! The dealer told me the same thing as I was signing the paperwork for my brand new MCS last night!
Osmodious

David,
I recognize that…of COURSE the dealer isn’t going to give you retail value for a trade, they wouldn’t be in business long if they did. What I am talking about is them giving FAR below what all the price guides list as a fair TRADE IN price. I have NO issue whatsoever with a dealer making a reasonable profit on a car sale…however, we all pay sticker price for our Mini’s, due to demand and limited supply, so they are making a very comfortable profit there…I see no need for them to also make SEVERAL thousand dollars profit on my trade (and don’t give me any stuff about them having to ‘recondition’ my car for sale…that’s factored into the difference between retail value and trade in value…oh, and besides that, they never DO ‘recondition’ the used cars, they hardly even clean the freakin things these days!). EVERY dealer sucks. They just do. It is, unfortunately, the nature of things these days. What other retail business can get away with blowing off customers who have cash-in-hand to buy their product? Sorry, I’ll stop ranting now…
Aaron

My dealer made me a very low offer (40% of what I finally got) on my ’97 Nissan Altima that I wanted to trade in, but they did offer to broker the sale to any private buyer that I could find. Since they knew that the auction price was substantially lower than what the car was worth, they at least made that offer to me.

I found a buyer who would pay me a reasonable amount for the car, took him to the dealer and I sold the car to the dealer who immediately sold it to the buyer for our agreed-upon price. The dealership handled all of the sales tax, registration, licensing, etc. (which the buyer paid for, but didn’t have to go running to the DMV and county tax office to pay) and I got the trade-in allowance on the actual sale price of my car, so I didn’t have to pay sales tax on that amount for my MINI.

Sure… it was more of a pain to find the buyer and coordinate everything, but the dealership made a decision at some point that they weren’t in the business of buying and selling 7 year old cars… that they were in the business of selling new MINIs. I can’t fault them for that. At least they made my life as easy as they could for the transaction and for that, I thank them.

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