It seems like you are pretty in love with this car. Reading that you already have a modded STI, i think you would like a modded MINI or something different than an EVO for a variety factor.

I'm coming from a modded bugeye WRX. I sold the bugeye and got an older miata (planning to autox and daily drive) and my MCS.

I've had experiences with buying cars with "issues" (one of the cars i had was throwing multiple codes, had bad tie rod ends, bad ps boots, torn CV joints, bad brakes, etc) so i know the frustrations as well as the longing for the car you really want.

If you do end up purchasing the car, just make sure you end up making a deal you are happy with. If it was me and i was pretty set on wanting to buy the car, I would make the seller/dealer address any issues prior to me buying the car.

 

I feel like OP is really already emotionally attached to this new car, even if it was determined it needed a ton of work, so really, it doesn't matter that not a single person here thinks this is a good idea. $4k upside-down or otherwise, she WANTS *this* car. The sheer amount of emotional language in her posts makes it clear.

We're beating our heads into the wall here. I think the best thing to do is to wish the very best of luck and hope that she'll come back and keep us updated on the life and times of the new car.

So good luck, Iris! I hope you'll come back to show us all the changes to your new car as it lives on.

 

Hi Again everyone! And Happy New Year!

I woke up, cooked me some breakfast, then my brother passes by my place and ask me hows it going.
I told him, "not bad and that I stood up late writing on NAM" this is such a cool place.

Every single post here is right in every way. Thank you everyone for all your comments, replies, advice and so much more.

Back to the beginning.
Topic: Female MINI Owner who doesn't want to get taken advantage of!

With all of your replies and help, I know I won't get taken advantage of. Yes, I am upside down on my current car.
It's like the banks and Kelly blue book have a deal to keep the average finance rate higher at all times then what the car will be worth. (conspiracy)
My car is in awesome shape so I should get a respectable amount for it to whoever I trade it in.
My other choices of cars are, the Mini, Mitsubishi, Another Subaru STi, or a Mini, Unless I can get an inexpensive Lotus.

But I tell you this that with the help of NAM and family/ friends informative decision will come threw. I know I will make the right choice.
The dealer will minus any amount of work that needs to be done to the 06 MCS if I'm willing to buy it after the 1fastmini shops evaluation. That being said I will trust 1fastMini and there staff evaluation of the 06 MCS.

-Hey, like one poster mentioned above that maybe down the line of owner ship of this used MCS that the tranny or supercharger could go on it eventally and I'll be stuck with lots of paying money to fix it.
This was the case with my Current stock Mini coming from a another Mini owner who drove this car easy.

I'll be back a little latter and I'll keep posting updates......

 

Okay, this is new information that does matter with respect to some of the posts so far (those that recommended that since you have a reliable car, just keep it and mod it). But it seems that your current car is not that reliable and even sounds like a bit of a lemon. Between your car and the 06, it is like choosing between the lesser of two evils.

A MINI will show up that you can drive off with little concern. Personally I wouldn't want to deal with buying a car and immediately start out fixing known issues (brakes, etc). 1fastmini has a great reputation on NAM and it may help your decision if you get his quote for all the work that he recommends.

 

Kind of depends on what those "problems" are. As others stated, I think that she has made up her mind and nothing we say is really going to make a difference.

She is taking a loss either way. (probably a bit more with the new car).

 

no dice. Modded and issues for 19K. I would go on ebay or some auto auction sites like Manheim and see what you find. Also I know $500 is not cheap, but you own two modded auto x cars and you are complaining about a $500 service, get your car serviced. if anything it will make it even easier to sell to the next owner.

For example I saw a nice 06 S in BRG w/ all options minus nav for $18.5K w/ 20K miles on the clock. Now that is a nice car for a heck of a price. I live in Colorado and I bought my mini in Cali at a small dealer and stole the vehicle. Sometimes you just have to spend a few extra weeks to save many thousands of dollars.

 

I'd mod the '04 MCS with a Helix pulley, RMW tune, header, cam, JCW injectors. You can find a lot of good parts on sale here on NAM for well below list. I've got Wilwood 12.2 BBK's on my fronts, and got an awesome deal during a show special at $600 for front rotors/calipers/hoses--brand new. I wouldn't put a lot of value in the Bilsteins unless you like a firm jarring ride. In that $10K+ mod list--I would have allocated the funds differently..meaning..I wouldn't put a whole lot of value in that existing list.

Richard

 

There are plenty of fishes in the sea.

 

Well, from all the comments it seems the nays have it. Maybe that's not the answer you were looking for.

Another bit of advice: only twice in time have I let my desire for a particular car get the best of me, because I just had to have the car. All the other times I calculated the total purchase price and if it did not make sense, I passed.

You acknowledged that you are "underwater" on your current MINI, to the tune of $4,000. Is that correct?

Plus you are considering overpaying at least $2,000 for the 2006 MINI [you should never pay for mods and accessories since the dealer did not pay the former owner for them.]

Plus you have to pay God knows how much to fix problems on the 06.

In any event, IMHO you have absolutely no business considering this deal, or for that matter, buying any car. Which brings to mind, did you ever say WHY you are buying a different car? Is it because yours has problems or are you simply wanting a different car?

After looking at all facts you posted, the numbers, etc. I would say:

1. The 06 MINI is NOT an awesome car. It appears to have some serious issues. I don't care how good it looks on the surface, if it has internal issues, it is not "awesome." You should not make a buying decision simply because a car looks nice and has some nice mods.

2. This appears an emotional and impulsive decision.

3. Are you able, in these horrible economic times able to get financing?

4. How are you paying off the 04 MINI? Have I got the financials wrong? You owe $17,500.

Trade in you may get $13,500 meaning you have to come up with the $4000 balance to pay off the old MINI.

And unless you are paying all cash, doesn't the 06 require a down payment? Where is that money coming from.

5. I would not even consider buying a car from a dealer who did not disclose the issues with a car, one who tried to apparently knowingly sell me a defective car [the salesman had to know about the problems since he was so "quickly" willing to knock off $2K from the price. If he did not know about the issues he would have instead said "What are you talking about?" in response to your pointing out the problems.]

6. If the 06 is so great, why was it sold or traded in? And how did it end up at a dealership? Why didn't the former owner sell it privately that always results in more money. Sounds suspicious.

7. Do you know the history of the car? Any accidents? Abuse? Was it a repossession?

IMHO that salesman sees a live one in this transaction. I bet they got that 06 MINI for a fraction of what they are trying to sell it for.

Bottom line: You need to keep your MINI, get the $500 service done and forget about getting a different car. I don't know why anyone would be so willing to be taken, as you said in your post, to the tune of $4000 to $7000. And that's if everything is not as bad as it seems.

Regrets for the lecture, but you did ask.

 

To expand on my 'walk away', the issues I see are not that it was modded, but that it was modded and 'put away wet'. Most modders are particular about their cars. That this person traded it in needing a service, new rotors, broken top hats (!), brake fluid, and possibly a CEL on tells me that the PO wasn't taking care of the car. And that the seller was willing to SELL it in that condition says that he doesn't care about much more than moving metal.
It *might* be fine. But you're looking at a net $8,400 increase in cost and only 15K fewer miles. You're also concerned about a $500 maintenance bill on the '04. Is that a function of not wanting to 'throw money away', or not having the money to spend? As pointed out, the new car needs a service as well.
Shouldn't be hard to find an '06 with 40K miles, and as OctaneGuy said, just because someone spent $10K on mods doesn't mean there are $10K in mods on it. Shocks and brakes are wear items, as is apparent in this case. You also may allocate dollars differently (the Webb bar is nice, but 99.5% of people wouldn't use, or even notice the infinite adjustability.)

In any case, best of luck!

 

find a good deal and mod it yourself.. if you don't know the history of the car just do a little at a time.. and get the car the way you want it.

 

Very well said. Like I said before, my MINI needed a little TLC, but when I traded for it, I was only upside down by $266. That wasn't a big deal for me. You don't want to be upside down really big, then have something like the clutch or worse yet the engine go out and be stuck with a huge repair bill also. But, just do what makes you happy, but most of the advice given in here is similar, and very good advice may I add. Mostly everyone just don't want to see you make a purchase that you might regret later, or worse yet set you back thousands of $$$$$$s. Again, keep us posted.

 

if u want a cheap alternative to a lotus, i suggest a used miata. that is what i did. handles amazing stock and plenty of a community for maintaining and modding.

 

IMHO OctaneGuy's post is the most valuable lesson in here for you.

I'd take his lessons and experience to heart when making your decision.

I know a guy who has a 1974 Porsche 911 S that back in 1992 he sunk about $20,000 on an engine rebuild and other things. The car was not worth half of what he had into it.

In 2009 he is a lot richer, has a 2008 Carrera 4 cabriolet [that cost him $150,000], a mansion of a house, etc. He still has that 74 Porsche because he will not ever forget how much money he sunk into it [maybe about $50,000]

The car is a sore subject with him so we never discuss the old days and that car. But like OctaneGuy, he just kept sinking more and more money each time, to where the thing was too expensive to sell.

 

Actually, there was quite a bit of good info in here from several sources, but just too much. Now it is up to the OP to tell her experience. I feel the decision has been made already and now we are just waiting to see the outcome.