Gen2 owners, just wondering once out of warranty will you sell your MINI if it has a 1K issue or higher out of warranty?

 

Depends on the problem. If it has been a recurring one with substantial costs, then yes. If it's a first time problem, no.

 

Hello Apple,

I'm sort of at that cross roads now. No problems now, but ready to cross over the threshold of no warranty on my R53. Knowing what repairs cost & the hourly rate at the local dealer I'm a bit worried.

I've thought about selling & buying a R56, but I like my MINI so darned much. I've thought about buying an extended warranty, but IMO the only one who wins there is seller of the warranty.

I've decided to just keep on motoring in my R53. If I have to pay 1K or even 2K it will be far less than it would cost me to buy a new R56 to get that warranty they come with.

 

I've got 2K left on my warranty and tend to feel the same way as Crashton
It's like sitting in the dark waiting for the other shoe to drop. I constantly
get junk mail offering extended warranty's but the cost is way to high and from what I hear they tend to be be a big scam. Guess I'll wait and see.

 

When my 2003 MCS went out of warranty, I tried to do some of the work myself (brake caliper, oil changes, spark plugs) but it was when I started to have other more expensive problems (steering column binding resulting in its repair, e-brake cables seizing and complete replacement, and the sunroof leaking and creaking) that I decided to sell. The sunroof was really starting to annoy me. It was practically the centerpiece of the car but I was worried the water damage would cause further issues and the creaking was driving me crazy. My dealership quoted me 2k+ for the job and that's when I ran for the lifeboats and bought a 2006!

 

Like you I am capable of doing a lot of my own maintenance, but our beloved MINI's are complicated cars, some things are just not DIYable. My car has no centerpiece, it's a tin top so maybe I'll be OK provided the steering column doesn't get wonky.

You were lucky you could jump into another R53. I don't have that choice. I'd have to jump to an R56 & although they are nice they aren't an R53.

 

The end of the warranty and the included servicing were some of the reasons why we've got R56s in the first place, we still have 2.5 years before we have to start worrying about that. I'm not sure what we'll do then, probably start thinking about a MKIII Coupe.

The end of the included service is more of a concern, I don't expect that paying for service at a MINI/BMW dealer is going to be a cheap experience. I'd be looking for a good independent shop, there are quite a few of them around here (but I don't know which are any good).

With the car before the MINIs I had an idea that once it started to cost us more than about $2400/year in unscheduled maintainance we'd look to get a new one car. The idea being that a new car payment would be about $4800/year ($400/month). That car was a 93 Civic, so it never did cost us much at all in repairs, it never did and still hasn't cost that much. I'm not sure a 15 year old R56 would be quite that reliable.

 

I keep cars between 6-9 years, so being out of warranty is a fact of life for me. Make sure to keep your car well maintained.

 

Buying new cars every 3 or 4 years is a sure path to financial problems later in life. People, cars today are made to last in excess of 250K miles. Save money by holding on to your cars longer. Really wealthy people did not get rich by flipping cars as soon as the warranty was over...

 

Difficult question...........my car is well out of warranty and I'm not experiencing any problems, and pretty much anything that comes up I feel qualified to fix.

BUT, if I had a CVT, given the cost of replacement and the lack of repair parts, I'm not sure I'd keep one past the warranty period. Of course, with a bad tranny they're practically worthless too........so like I said, a tough question.

I may be in the minority of R53 owners, but I like the R56 just fine, and may go ahead and sell my R53 while it still has good value. I think I'd like a nice low mileage Clubby S........if I could get the right deal.

 

I still have my '03 Cooper and have had many things repaired....some MINI actually helped with, some not. Still a great running car. Based on this experience, I'll be keeping my '07, too.

 

I still have my previous car. It is 19 years old. Bought it new. Still going strong with only 125K miles. If the MINI is as reliable, I'll keep it a longtime, unless changes in car technology cause me to go for an electric, or something.

 

Don't know if I agree with that or not. I know several "really" wealthy people and none of their cars are over 4 years old and they are always driving newer cars. The fact is "really" weathly people don't worry too much about those things. I consider a "really" wealty person as someone who's net worth generates over $400,000.00 per year in interest or dividends. This typically enables them to live without touching principals and if you manage your lifestyle well enough several new cars ever 4 years is a no brainer.

Now maybe my definition of a "really" wealthy person is different than yours and I can appreciate that.

JMO.

Pat

 

"Really wealthy people did not get rich by flipping cars as soon as the warranty was over..."

 

+1

 

I don't yet own a MINI, but I think the trend of 3-4 and dump is more common than I once did.

Why? I live next to a very large Toyota dealer and walk my dog through a park area to the rear and around the side of it daily.

They ALWAYS have fresh minis. They ALWAYS seem to sell them (or transfer them I guess, but none stay on the lot very long). Right now they have 2 R53s one drop top (in back, I guess waiting to come up) and 1 R56. Two months ago they had 3 other minis, one sitting IN the showroom (for some reason) by all the loaded Toys and Scions.

I guess it's buyer's remorse? Anyway, the NOVA/DC crowd has money to burn by the looks of things around here (I saw a DB9 yesterday, there's no shortages of Ms and AMGs either.)

 

With me being a collector of old British Sports cars, unless the MINI proves to be a total disaster (which I seriously doubt) I don't think I will ever sell it. If you maintain a car and attend to the little things that most will ignore, a well built car can and will last a long time. I have the 'luxury' of either working from home or at a client site in some other state so I do not use any car to commute. The last new car I purchased was a 1997 Toyota 4-Runner that I still own and only has 50,000 miles on it. I also currently own 4 additional MG's and Triumphs. Most of my driving is for pure pleasure and I regularly rotate through the cars to keep each one 'fresh' and exercised (although the MINI is getting the most attention right now as it is only 2 weeks old).

bob g

 

I admire people who keep their cars on the road and well-maintained for a long time, and I suppose it is sort of a dream of mine to do the same, even it my MINI winds up looking a bit rough around the edges. With this in mind, I got one or two extra options on my current MINI (including color) that elevates it in my mind to dream-car status (and it was still under $22K). It is definitely a car I will enjoy driving for a long time, and I will maintain it accordingly. FWIW, my daughter now owns my '03 Cooper, but I help her w/ repairs, so I have some realistic experiences w/ dealership repair costs. It's definitely do-able. Add to this that I manage to easily coax +40 mpg out of my '07 manual Cooper in city driving (my city anyway)....helps the car retain an edge should we see more vehicles with highter efficiencies come along.

 

Your note was amusing (although you obviously didn't know):

"Buying new cars every 3 or 4 years is a sure path to financial problems later in life. People, cars today are made to last in excess of 250K miles. Save money by holding on to your cars longer. Really wealthy people did not get rich by flipping cars as soon as the warranty was over..."

Apple has stated in other posts that she's owned a major bunch of cars in the last 10 years (20 or more?...correct me if I'm wrong, Apple), and she makes her living flipping homes in Florida.

 

Hehe with all the foreclosures going on I am sure there is money to be made "flipping houses".

Sorry I came across as preaching to the choir... It just saddens me that in the midst of the worst financial crisis this country has ever since since the 1932 depression, some folks continue to do some boneheaded financial decisions. People can do with their hard earned money as they please, but that cavalier attitude towards money and major purchases has gotten us in the mess we are in.

Like I said earlier, the vast majority of cars in the market today are built to last 10-15 years and or a quarter of a million miles. Some people cringe at the idea of driving a car for that long, but they don't fret at throwing money away (Retirement, savings, etc) every 3 or 4 years flipping cars simply because you get tired of them or want to go for the latest thing (Not withstanding a car that has been a lemon or a reliability headache since day 1, life changes, job losses, etc).

If you have the money and means to buy new cars every 3-4 years, please be my guest. But folks in such financial position are a vast minority of individuals that can do so. For the rest of us, restraint should be the new way going forward so we don't catch ourselves keeping up with the Joneses, piling up debt and facing tough retirement working as a clerk in Walmart or Home Depot.

To me the math doesn't add up when people tell me that it is "Cheaper" to sell a perfectly good out-of-warranty car and get a new one. It is stil cheaper to take care of the maintenance and repairs of a car within its first 10 years than it is to buy a new one. That is just me.

The other side of me likes to "grow old" with a nice car. Like wearing out your favorite pair of jeans. Sometimes I dream seeing my now 2 year old son one day driving away to college in my 2005 R53 S 16 or so years from now.

My apologies to Apple and his/her successful business. Enjoy your money and your financial status allows you to switch cars as often as you please. But that is not the reality of 97% of Americans today.

Off my soap box.

 

My R53 was a problem dog I called "Rover." Rover was problem free the first 3,000 miles then woof woof-- Rover began to misbehave very badly with all kinds of technological and BQ tomfoolrey: clutches, steering, motor mounts, doors, sunroof akimbo, dash, steering again, clutch again, cvt joint, cvj joint again, cvt joint again (same one.) BAD Rover!

But God I loved the sound of the Rover's blower sucking air as I accelerated, so for 3 years I tolerated his quirkiness-- that is until I traded good old BAD Rover 3 mos before warranty expiration (only 27K on the clock), got a new all-BMW MCS JCW 3 mos later, and have not looked back with any regret. adios Rover...

You see, you will know after about 25-30K if y're new car is a keeper. I hope whoever got Rover got a helluva good warranty, they will need it. As far as my 2009, just got thru break-in, so we'll see after another 3.5 years. So far, tho, everyone who experienced Rover has said Syd the R56 is a huge improvement. So, we'll see: good car, will keep.

 

Hey maybe by then there will be many more independent shops that work on these cars.

 

I already have a good independent shop owned by a good friend of mine and 3 time MINI owner.

 

I'd really like to keep my MINI until its wheels fall off, but ultimately it depends on the car itself. The more problems it has, the less likely it's a keeper, so I don't think there's a right answer either way.

If all I have to pay for is regular wear and tear items and maintenance, then by all means 10-15 years is definitely not out of the question. I hope this is the case!

 

The biggest depreciation a car experiences is in the first year of ownership. Did you buy your MINIs new? If so, that was not a wise or prudent financial decision. There is no financial justification for purchasing a new car instead of a used car, especially one that will be driven for hundreds of thousands of miles over many, many years. Maybe you just wanted a new car?