Official MINI USA Press Release: MINI took home two honors in Kelley Blue Book’s “2008 Best Resale Value Awards”. MINI was awarded a top spot with “Best Resale Value” in the Convertible category. In addition, the MINI Cooper has been named an overall Top 10 in “Best Resale Value”. The MINI Cooper is the only vehicle to consistently be on Kelley Blue Book’s Top 10 Best Resale Value list every year since 2003.
Kelley Blue Book’s Best Resale Value Awards honor vehicles expected to retain the greatest proportion of their original retail price after five years of ownership. Depreciation often is the greatest expense incurred by drivers during the first five years of vehicle ownership, but according to Kelley Blue Book, shoppers who purchase the 2008 MINI Cooper are projected to obtain greater resale value down the road.
“We are overjoyed to receive this recognition from Kelley Blue Book for the MINI,” noted Jim McDowell, Vice President, MINI USA. “We are committed to offering our owners outstanding value in areas of performance, safety and fun. The overwhelming enthusiasm MINI owners have for their car is a testament to our commitment and we see strong resale value as an important indicator of our efforts.”
“As a testament to MINI’s unwavering appeal, both the hatchback and convertible versions shine yet again in this year’s Kelley Blue Book Best Resale Value Awards,” said Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book’s kbb.com. “Without a doubt, the expressive and fun MINI remains a resale champion.”
Kelley Blue Book’s 2008 Best Resale Value Awards are based on values from the November/December 2007 Kelley Blue Book? Residual Value Guide, researched by an expert staff of automotive market analysts. While the company’s Residual Value Guide has been published since 1981, Kelley Blue Book established its annual Best Resale Value Awards in 2003. Each year, Kelley Blue Book announces its Best Resale Value Awards by vehicle category, the Top 10 models, and best overall brand.
According to KBB, my 05 MCSc has only depreciated $1000 – not bad at all.
So it is fair to say that the advent of the R56 really has had very little to no impact at all when it comes to R53 residuals?
I have been advertising my 03 mcs for several months and have had few inquiries…and it is priced near KBB dealer trade in. Ouch!
KBBs ratings are all based on Dealer used-car RETAIL pricing. Has nothing to do with “real-world” for-sale-by-owner, or Dealer/wholesale trade-in pricing, which is the world the consumer lives in. Real-world, the MINI depreciates just as fast as any other car. My ’04 in the “real-world” has depreciated 50% in 3+ yrs.
>KBBs ratings are all based on Dealer used-car RETAIL pricing. Has nothing to do with “real-world” for-sale-by-owner, or Dealer/wholesale trade-in pricing, which is the world the consumer lives in. Real-world, the MINI depreciates just as fast as any other car. My ‘04 in the “real-world” has depreciated 50% in 3+ yrs.
Wow. Very different from my experience:
I sold my ’02 in 2005 for $3500 less than I paid for it. This past summer I sold me 2005 for $3000 less than I paid for it. The first car I sold through cars.com. The second I sold to a friend (who ironically worked at cars.com).
Now Gabe, don’t you think your car commands a premium? Kinda like buying a baseball bat used by Mickey Mantle. (chuckle)
>Now Gabe, don’t you think your car commands a premium? Kinda like buying a baseball bat used by Mickey Mantle. (chuckle)
I wish that were true! The person who bought my first car had never heard of MF. The second wasn’t/isn’t really a MINI enthusiast at all preferred the car bone stock.
I traded in my manual ’02 R50 in 2005 and got $17,000 for it. I paid just under 20K for it. My ’05 R53 was damaged to the tune of $10,000+ in December of 2006. I sold it at auction for $20,000. And the purchaser knew it had been in an accident. I Paid 24K for it.
That doesn’t happen often.
I was just at a MINI dealership in Milwaukee. They offered me 16k (17.5k if I put new tires on) for my 05 MCS with Dinan stage 2 engine package (and I have 24k miles on it). I have about 33k into the car. Is anyone else finding the numbers so low when looking to trade at a MINI dealership? Is it best to wholesale to a different dealerhip?