MINI Wins Another KBB Award for High Resale Values
Official Release: MINI vehicles have long been known for maintaining their overall value, and the company is proud to accept multiple awards for resale and residual value during the LA Auto Show from both Kelley Blue Book’s kbb.com and ALG.
“The resale value awards that MINI received this week further reinforce that a MINI brand vehicle purchase is a wise investment,†said Jim McDowell, Vice President of MINI USA. “It also demonstrates that the MINI speaks to the practical argument for buying one of the brand’s vehicles, as well as the emotional appeal of a MINI and the promise of a fun motoring experience.â€
MINI brand vehicles won a total of three Best Resale Value Awards from Kelley Blue Book’s kbb.com. The 2010 MINI Cooper Clubman was named Best Resale Value in its class for the compact car segment; while the 2010 MINI Cooper Clubman and 2010 MINI Cooper Hardtop are both named among the Top 10 cars with Best Resale Value according to Kelley Blue Book’s kbb.com.
These latest honors from Kelley Blue Book’s kbb.com mark the seventh year in a row that a MINI Cooper vehicle has won in either the compact car, hatchback or convertible categories, and also the seventh time it has earned a spot in the overall list of Top 10 models.
MINI Cooper has also received the 2010 Residual Value Award for BEST SPORTY CAR from ALG. ALG’s 11th annual Residual Value Awards, for the 2010 model year, honored the vehicles in each industry segment that ALG predicts will retain the highest percentage of their original price after a three-year period.
“We believe Residual Value remains the best metric for evaluating the overall strength of an automotive brand, and we congratulate MINI for the proven success of their MINI Cooper model,†said James Clark, General Manager of ALG. “The ALG Residual Value Awards are recognized throughout the industry and by consumers as the mark of a healthy brand; winning this award is a testament to an exceptionally strong product and all of us at ALG are pleased to recognize that accomplishment.â€
In addition to the testament of third parties, MINI USA offers a solid backing for its used vehicles with the MINI NEXT program. Through any certified MINI dealer, customers can purchase a used MINI NEXT vehicle that has undergone significant testing and offers the peace of mind of a comprehensive warranty (up to two years and 50,000 miles) as well as roadside assistance, and assurance that only MINI authorized parts will be used to service the vehicle.
<p>That’s a joke. Brought in my 07 mini s to the Manhattan dealer, he offered 14k out of the original 28k.</p>
<p>Well, maybe it’s the dealer trying to make money off me, can’t blame them, right?</p>
<p>Sounds more like your dealer is a joke, not the kbb.com award….</p>
<p>Great job Mini. I bought a used one and I have seen same year models for sale for more than I paid for it. Definately a strong resale value.</p>
<p>On a side note, I am continuously impressed by the pictures Motoringfile uses for the articles. So many of them like this one are just amaizing!!</p>
<p>Lost $14,000.00 in a trade in. Sure don’t consider this as holding resale value. Traded on a 2010 Toyota. Was tired of driving 60 plus miles for service and at least 2hrs drive due to traffic where I live.</p>
<p>So, if the dealer is selling you a pre-owned MINI they have great resale value & charge accordingly. If you are trading your MINI in they want to give you nothing on trade. Yep, give MINI an award for perpetrating the high resale myth.</p>
<p>What you trade-in a car for is not its resale value. That is more like wholesale value.</p>
<p>If the dealer sells you 14k trade for 19k consider that a 5k convience fee.</p>
<p>Re-sell is what consumers are willing to and in fact are paying for driving your used car, It is not what you give the car away for so you don’t have to hassle with selling yourself.</p>
<p>The award was for the Mini Cooper and the Clubman also ranked on the list. No mention on what is the primary car in the US market the Cooper S.</p>
<p>Could explain some of the drop in prices. Expecting the Cooper gets it for having less units and better economy currently and the Clubman for being new to the market still and relatively new to the resale market.</p>
<p>The biggest problem with the all over the map resale values is the same thing that makes the car so attractive for the initial buyer; The gazillion options that are available for it.</p>
<p>The second buyer can’t be that picky, or just offer less for a car that comes “close” to what he is looking for.</p>
<p>When I’d decided to sell,”Sade”(’03,PW,MC I bought at about 20K new)to start my business,I checked the online Kelly Blue/Black Book site. The going price,at the time was about 16K. Sade was perfect except for the front cracked window(which usually cost about 2K to fix);and,she had a little over 56K on the odometer. Therefore,my selling range would be between 10 to 14K.</p>
<p>I then got on the Carmax website to do a nationwide search of MINIs. I realized,at the time,they didn’t have much of a selection(works to my advantage). Armed with all this information,I went to a local Carmax,in Atlanta.</p>
<p>Like clockwork,they offered 8K for Sade. I passed;then,asked to speak with the manager on site. I told them about the above info;and,reminded him that one of the reasons everyone was going for the,”cash for clunkers”,was to get a new/used car that saves money on fuel.</p>
<p>I ended up selling Sade for 12K. The lesson here is the following: Information isn’t power if you don’t use it to your advantage.</p>
<p>Shawn, telling the manager at carmax about cash for clunkers proabably didn’t do anything. Especially since you had to buy a NEW car, not a ‘new to you car,’ to qualify. If it did, the manager was a moron.</p>
<p>High resale value expectations are great if you lease. The MINI constantly has high residual values on a lease, which makes the monthly payment lower. My three MINIs have had residuals of almost 60%, while a Cadillac CTS I checked on was about 45%. That’s a huge difference.</p>
<p>To Jeremy: You are correct. He WAS a moron(wink,wink)…</p>
<p>…however,isn’t it nice to know,for a change,that a customer hustled a used car salesman out of his money,lol.</p>
<p>…information isn’t real power unless you used it to your advantage.</p>
<p>Soooo…..who is buying brand spanking new 2010 MINI’s and then turning around and dumping them?</p>
<p>Hmmmmmm……….must be fallout from “Cash for Clunkers”?</p>
<p>@ Albert…at the top…</p>
<p>Dude…Seriously…you have driven the car for 3 years!!! Having a 50% residual from your MINI makes sense…What has really givin the dealers a hard time is the fact that a lot of cars that have been taken over by the individual used car lots have made it more difficult for a dealer to sell used. It has really hurt up here in Canada as more than a few people have been able to pick up used MINI’s for thousands less than what the dealer can sell…regardless of MINI next, the thought of a MINI COOPER S JCW being offered for $6000 less at a “Fine Cars Lot” is sickning…</p>
<p>Kudos to MINI for still retaining this title though.</p>
<p>Used car prices are nothing more than opinions. Your local market/region may or may not bear some of the high used MINI asking prices. People tend to take these things as gospel only to be reminded that only someone willing to pay an X amount of money for the car will justify the asking price.</p>
<p>This is a terribly soft market due to the economy and people selling used MINIs privately may find themselves waiting weeks/months to be able to unload their cars.</p>
<p>The economy is still in shambles and with 10%+ rate of unemployment most people are not in the market for expensive used small cars.</p>
<p>The KBB price of your cars value is about double the real world price. KBB is the worst reference, as far as private party as well as trade-in value. I had my mc40 up for sale from june ’til november for a very reasonable price, and did not even get a low-baller. I couldn’t give it away for 10K. No offers,please, it’s not for sale anymore.</p>