Sections: Awards Aug 8th, 2006 9 Comments Edmunds has come out with this year’s list of lowest depreciating cars and everyone’s favorite small car has come in 2nd. Here’s a quote from the PR release:
The lists show the percentage of its original value that each vehicle is likely to retain after five years, assuming a total of 75,000 miles. Residual value percentages are based on the national Edmunds.com True Market Value(R) (TMV(R)) price for a vehicle equipped with typical options, plus destination charge. Each model’s ranking represents an average of all trim levels in each model’s lineup.
Among the cars with the highest projected residual values , and therefore to depreciate the least during the ownership period, are:
- 2006 Honda S2000 – 51.7%
- 2006 Mini Cooper – 51.5%
- 2006 Acura TSX – 47.7%
- 2006 BMW M3 – 47.6%
- 2006 Mercedes-Benz SL Class – 47.0%
- 2006 Mercedes-Benz SLK55 AMG – 47.0% (tie)
[ Vehicle Depreciation Top Ten List ] Edmunds.com
Osmodious Aug 8th, 2006 Link
They should have a disclaimer stating that this does not apply to the US Northeast! Seriously, while the rest of the known universe uses the Kelly Blue Book, around here they use the Galves book, which starts off a few grand less and then does NOT include most of the options (NO allowance for Navigation? Puhleeze.).
If you plan on trading your MINI, go out to western PA or down south to do it… OS
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TulsaMINI Aug 9th, 2006 Link
When I had my car in for service a few weeks ago, I asked them to go ahead an appraise it for trade-in. It’s an ‘03 MC with 43,000 miles. My appraisal was $14k — 72% of its original sticker price.
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Mark Aug 9th, 2006 Link
Don’t bother going South – Here in Arlington Texas the MINI Dealer (Moritz MINI) actually has a link to the Kelly Blue Book on their BMW web site, to help you “value” your trade. But take your MINI in and it’s a whole different story. My ‘04 with 25K miles shows a value of between $17K and 18K “Good condition” for dealer trade in value in Kelly. What did Moritz offerer? $12K to 14K. Tried to tell me that MINIs DONT hold their value at all, and that no one wants used MINIs, all while a used MINI on their lot, same year, less options and higher mileage then mine, was listed at $20K. You just have to find an honest dealer, so shop around if your looking to trade in your MINI – and DONT’T buy your next MINI from the less than honest MINI dealers.
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Mark Aug 9th, 2006 Link
I took my car in for a trade in appraisal a few weeks ago as well. An ’04 MINI with 25,000 miles. My appraisal was 12K — 61% of its original price.
As with most of these surveys, take them with a grain of salt. Unfortunately, no MINI dealer uses the Edmonds valuations to price trade-ins. Take the Edmonds valuation and deduct 25% and you will be getting closer to true trade in values for used MINIs at most dealerships. And expect values to drop again when the new model is out.
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Seth L Aug 9th, 2006 Link
I’m guessing these are direct sales numbers or retail figures.
No dealer is going to give you anything close to fair market on a trade in.
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O(=^=)OCapn Aug 9th, 2006 Link
Seth is correct. A dealership buys Wholesale and sells Retail. That is what makes it a dealership. If you want to see how much you could get for your car:
A) See how much the dealership is selling used cars for or
B) Go to Autotrader or craigslist
Enjoy! cap!
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O(=^=)OCapn Aug 9th, 2006 Link
And I forgot to say that I am sure that this award is refering to Retail value.
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jarrett Aug 9th, 2006 Link
appraisals mean nothing to those of us who intend to drive the car until we drive the wheels off.
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Disco Stu Aug 10th, 2006 Link
“appraisals mean nothing to those of us who intend to drive the car until we drive the wheels off.”
I guess you never plan on buying a new one?….
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