Forbes on MINI’s High Resale in the US
Forbes magazine gives the MINI yet more love when it comes to resale value:
>Appointed with premium features at an attractive price, the Cooper occupies a market niche where buyers can find no substitute.
>All versions of the iconic Cooper from BMW’s Mini brand command high resale rates. The 2008 Mini Cooper Convertible has an ALG three-year residual value of 57.5 percent, while the newly available Cooper Clubman — a stretched Mini — handily breaks above 60 percent, with a residual of 61.8 percent. But the basic Cooper hatchback still beats them both, while it easily tops the percentage resale value of every other vehicle available.
>For the little Cooper, fuel-efficiency currently gives a boost to resale value, says Andrew Cutler, a spokesman for Mini. The Environmental Protection Agency rates the base Mini Cooper at 28 miles per gallon in the city and 37 mpg on the highway.
>What’s more, Mini tries to create an engaging brand experience that makes owners feel like members of a special club. Cutler calls it “an expressive brand personality.”
>”They then tell their friends how cool it is and invite them to join the club,” he says. “This brand experience, coupled with the car’s performance, safety and efficiency, keeps customers engaged for a longer period of time than has been seen with other niche vehicles.”
>And with high gas prices continuing on an long-term upward trend, expect this to continue for the foreseeable future in the US market.
Nice to see the “club” being recognized as important for brand value, by other than just MINI USA 🙂
Yes Ian, the club could be a better selling point if it was talked about more at dealerships, but it is not the main focus.
People that use a club community tatic will reflect a almost Ferrari type culture, people who lve to drive the cars and like to meet other who do.
I just want what the dealerships are getting. 16k for a used MINI.. insane.
In New Zealand a new MINI One retails at NZ$29995 (US 0.70 = NZ1.00). Used 2002/03 Coopers are priced at between NZ$21000 to $28000 (Cooper was new NZ$38000).
Used Imports 02/03 from Japan are still getting top Yen at Japan auctions keeping the prices up there.
I originally was going to buy a used MINI, but when I discovered how much everyone was asking for them I decided to buy a new one. Why pay top dollar for a used MINI with 15-25K miles on it when you can get a new one for a few thousand more and custom order it the way you want.