Hey guys,

I would like to buy a Mini Cooper S, but am having problems.

I can order a new one, have it in about a month in a half, and pay about $30K out the door as I would option it.

I can buy a 2007 with 7K miles on it, certified for $25K out the door, but it is a pretty stripped down car (sports package, chrome mirrors (which I would take off), and maybe one or two other small things) A brand new car comparably equipped would be only $1K more, but since this one is certified, it has a 7/100,000 warranty

There is also another local car, more options (but mostly stupid stuff) was $28K new, the guy wants 28.5 for it with 1800 miles on it, JCW body kit, and $2500 special wheels.

I want to spend as little as possible and ideally would like to buy an intelligently optioned car. Paying $2K for the premium package is a good choice, paying $2K for interior trim and other ancillary BS isn't.

Any advice? Other cars I should consider?

Thanks,
Jeremy

 

The fact is that Minis are enjoying outstanding resale values right now due to their great gas mileage. It almost makes no sense to buy a used car at the prices they are getting.

My dad was looking for a used one, but ended up ordering a new MCS. He just picked it up last week. Not stripped down, but not heavily optioned for just under $25k. Had to pay full sticker as the dealer wouldn't budge. Now into the '09 model year and prices have gone up a little bit.

You can check out the used cars for sale at http://northamericanmotoring.com/marketplace/

 

Thanks or the reply Rob!

I already checked NAM, that's where I found the 28K car.

Jeremy

 

Jeremy,

I have been looking as well. If you wish to call me I would be more than happy to discuss some of my knowledge and what I have learned. You can also PM me and I will call you if you wish. FYI, form my understanding the extended warranty is not a BMW warranty.

One of the big factors is going to be how long you keep the car and how many miles you are going to put on it.

 

Thanks Guy, left you a voicemail.

 

Have had a couple of Minis and from my POV it is best to order it the way you want it and wait unless you find a used one that is a ridiculous bargain that would be impossible to pass up (which doesn't look to be the case as it sounds like the asking price difference between used and new is not great enough and the cars are not even optioned as you want anyway).

I'd check around Craigslist, Autotrader, etc as well for perspective on used cars, to see the volume of them available in a wide area, and if you have time track and see how long they are sitting unsold - NAM sellers can be a bit on the high side sometimes and looking on the larger market might help. Personally I've found talk of the high resale never changes, but the fact was that as the volume of used cars available exploded the reality was resale did get softer and actual prices came down. Of course it takes time to negotiate and condition/warranty, depreciation based on model year as well as higher new car prices are other factors to consider..