I've been watching and wanting the MCS ever since I first heard they were coming to the states. However, I'm the sort of car buyer that typically buys a car that is 2-3 years old. I prefer to buy while the cars are still in new condition and under the original warranty as I don't have to take the loss in depriciation for buying new. That and I HATE being the first owner because I see rock chips and such on my new car and it drives me nuts (buying it used this way does not). I know a used MCS continues to hold its value but for how long? Supply will certainly meet demand at some point as the trendy owners decide the car is not the best fit for them. My quandry is do I buy now when the prices seem to be dipping, or hold tight for another 6-8 months and see what happens? I know the choice is mine but I'm curious to see what others think about how long the MC and MCS will hold their value.

To give you an idea of my goal, I want to find a 2003 MCS with decent miles, sport package, leatherette, I'm open to colors, maybe the premium package, and xenon lights for 20K or under. They are starting to pop up now but are getting bought quick (especially if it's a MCS for 20K ish in the NW). Mind you, I'm in no hurry. I foresee a job change in my future (6-12 months) which will force me to commute once again and the MCS seems like the perfect commuter/2nd car IMO. In the meantime I'll continue to vanpool to work and stare at my gas hog of a pick-up (2001 Supercrew 4x4) as it sits in the driveway (due to the vanpool, I've owned it for 14 months and put 3000 or so miles on it).

Of course I've been tempted to buy new and order it exactly like I want (with LSD when the time comes) but the reality of the situation is I prefer not to spend the extra couple thousand dollars and the chances of me finding the "right" combination for my personal mini is slim because I love the damn thing in so many flavors (silver, red, blue, w/premium, w/o premium, etc.). Of course that darn red JCW MCS is the classifieds continues to haunt me at night too.

So what do you think? Have we hit the high point and values are starting to come down now or do you think they will continue to hold stready for some time?

Insight appreciated.

Cheers.
Todd

 

sanderskog,

It's hard to say whether the values have peaked or will remain steady for another year.
The new MINIs are nicer and better with more options but as of January 05 also higher priced (about $500).

Good value used MCS are available in various areas of the country all the time if you know where to look and don't mind looking widely. Try classified ads in many of the larger cities in warm areas, look on NAM marketplace, on MINI2.com and ask at your local MINI clubs.

I know of several 2003 MCS (two red/white, and one electric blue) for sale but they are all highly modded ones selling for about $23,000+ and I think you are looking for something less.

Why don't you list your rough price range and wish list so if we see something we can send you a PM?

 

I'm not sure if it's going to happen any time soon.... I was talking to someone who works in the lease industry about this and he said that they continue to set the MINI's residual value extremely high.

You can do it though.... like Minihune suggested... look through the classified on MINI boards and be prepared to act quick.

 

The longer you wait, the less they'll be.

I'm in the same lane as you - and to my eye, it does seem that the '03s are finally starting to depreciate. Just looking at what the cars on Ebay have been doing - during summer that config was going for $22-23k, now they are nudging closer to the $20K mark. Many are going unsold with reserve not met.
I'm having the new vs. used debate as well, and weighing the LSD vs. the additional $500 MSRP increase. Hmmm.

 

Might give mine up for around 21k in about 5 months
its loaded

https://www.northamericanmotoring.co...912#post410912

B

 

Good topic. This coming April will mark 3 years that the Cooper has been in the USA. Every person who just had to have this car (price is no object!) has purchased it already. Many of those purchasing/ordering now are repeat buyers. Many are moving up to a MCS or Cabrio. Because BMW has decided not to open another Mini plant, demand continues to be healthy because of limited supply. If they had taken the New Beetle/PT Cruiser route and started cranking out Mini's like crazy, they would be offering rebates and incentives right now to move the metal. I understand a new Mini dealer only gets allocated around 25-30 cars per month. The majority of these are custom ordered by customers, the rest by dealers who change the color/options when a customer wants to place a specific order. This way the car is already in the manufacturing pipeline.

Out here on the west coast, I notice 2 local dealers have a good selection of Mini's on the lots right now. Just a year ago these lots were practically empty of cars to choose from. I predict that this coming summer in 2005 will be the turning point and dealers may have to resort to discounts off MSRP (small of course) to move inventory. I hope I am wrong of course because this will cause resale values to drop.

I think your best shot is to scout ads in the local paper and find that person who is in a financial crunch and needs to sell ASAP, no matter how much they lose in the process. I met a guy who purchased a loaded 2002 MCS with 4,500 miles 2 years ago (They were REALLY hot then) for 20K from a young man who just had to sell the car because of high insurance rates. Good luck! 2002 MCS sold on Ebay for under $18,000... http://cgi.ebay.com/ebaymotors/ws/eB...494677742&rd=1


$17,925 MCS with 55K miles. An OK deal because of high miles..

 

I bought my MCS 02 this summer on ebay from the Maserati dealer in Ft Lauderdale Fla. loaded with 11K for 20600. This car looked like brand new every option but nav, which I did not want. The same car in Atlanta was going for 23 - 24K locally.

 

There appears to be areas of the country where demand has slowed slightly. I purchased a 05 MCS off the lot 8 weeks ago, the same dealer told me in July that they would not have any unsold inventory until late spring of 05. Last week the same dealer had three MCS available, nicely equipped.

I likewise have been watching eBay all summer, 50-60 for sale all the time, it seems like very few are selling. In my area there has been a 02 Cooper for sale now for 9-10 months, 3,000 miles, $18,500. Why would I spent that kind of money for a 02 (non-S) when I could drive a 05 S off the lot for $25k?

A friend who is a used car wholesaler told me that he will see 1-2 run through the auction every week, bringing in his mind retail dollars. He thinks dealers are buying the cars, driving them a few months, creating some stir around their lot and reselling them if they don't find a retail buyer.

As far as discounting below MSRP, a BMW dealer (non Mini), told me that margins were very thin and 20-25 cars per month would not make you rich.

If I can drive my car 3 years/36,000 miles, sell or trade it for 50% of MSRP, I will be a happy camper.

 

"I likewise have been watching eBay all summer, 50-60 for sale all the time, it seems like very few are selling."


If you look at the completed Mini auctions on Ebay you will see that most do not meet the owners reserve. Very few sell unless the seller has decided to post for sale with no reserve.

 

You can't go wrong if you pay sticker. I got mine for $24,000 and change with sport, premium and H/K. The 05 will have a better resale in the future than the early cars. 3 years no cost service, plus the 4 year waranty. Why would you buy used? If you want to save money, buy one without options.