Is the MINI Recession Proof?
BusinessWeek seems to think so, via Yahoo! Finance.
>But there are some good deals out there in this recession; cars that are worth the price and will hold their value. And in spite of our exasperation, we don’t advise buyers to to ignore the American brands. Our outlook is more nuanced than that, although unfortunately for the Wee Three’s sake, it’s still not the story they want to read. Here’s the breakdown, and the logic behind it.
There are a few cars that actually made the list like the Honda CR-V and BMW 328i. Oh yea, and the MINI.
>The Mini makes this list because it gets very good fuel economy (28/37), has a huge following (Mini dealers have pretty much failed to create a sustainable certified-used program because Mini owners are so reluctant to sell their cars), and Kelley Blue Book rates the residual value of the Mini the highest on its list for the past five years.
[ Recession Proof Cars ] finance.yahoo.com
Now if only you could sell the mini for the actual blue book value. I know up here in Canada, you may be able to sell at 70% of the Blue Book value.
Anyone want a 2003 cooper?
Ah, but the real question is… Is the Recession Mini Proof?
The short answer is the following: Yes. The,”experts”,stated that the recession/depression should last anywhere from a year to two years. This means,individuals who want to,”down-size”,from their gas guzzler to save money,to individuals who just like the total value of the MINI,and everyone in between,should buy enough of them world-wide to carry MINI through the recession/depression period.
well, my dealer has a bunch of “certified pre-owned” MINIs listed for sale on their website.
me likey Horizon Blue a lot too…at least based on this rendition. Of course I thought Space Blue was going to be a lot different than it ended up being from just seeing it on the computer.
I can’t find a buyer who can get a damn loan today, so its taking forever to sell a used car now. In this market, I’m dealing with people who can’t afford a new one so they’re buyers who don’t have any savings and can’t pay cash, so who knows how long my car will sit unsold.
Two of my local MINI dealers had well over 100 new MINI’s in stock. I wonder if anything is truly recession proof.
The era of people buying toys they can’t afford with borrowed money or plastic cards is over.
This economic meltdown is a blessing in disguise. A lot of people lived “fake” lifestyles and yet drowning in incredible amounts of debt. No more. If you don’t have the cash, you can not take it home. They way it should be and the way it should have been from a long time ago.
How much can the dealer cut a bargain if I can buy one today? I am sure there are buyers out there if the price is right. I am still holding off because my closest dealer is about one hour drive away. A shop trip would be at least a two hour event. I still cannot justify that with my busy schedule despite my love affair with the Mini.