MINI Convertible Will Set New Standard For Small Car Residual Values

The new MINI Convertible is likely to become one of the UK’s slowest depreciating cars after it is launched in the UK this summer. According to Glass’s Information Services, the trade value (i.e. what a retailer would pay for the car in part exchange) is expected to be as high as 92 per cent after 12-months and 10,000-miles. This means the owner of a £14,625 MINI Cooper Convertible could typically expect to recover around £13,455 after a year’s motoring.

The desirability of the new Convertible has already brought the car to the attention of some speculators, and Glass’s predicts that the very first owners could secure up to £1,500 over list price for the initial batch of cars.

"The new car is priced very favourably against some of its key rivals, such as the Peugeot 206 CC and Ford StreetKa, and its desirability will build on the success and badge kudos of the hard-top version," comments Richard Crosthwaite, Prestige Car Editor at Glass’s. "All this means that some traders will be willing to pay more than list price, confident of quickly selling the car on for a premium."

However, Glass’s points out that seasonal factors are likely to influence the Convertible’s residual value performance over the longer term. Crosthwaite explains, "There will undoubtedly be greater stability of prices between March and August, when the prices for all soft-tops are at their strongest. Outside these months, the standard cars may seduce more prospective MINI buyers, allowing values for the Convertible to settle back to more sustainable levels."

Buyers need to look at the options list carefully if they plan on optimising the value of a MINI Convertible on the used car market. Crosthwaite says the best prices will be paid for cars with air con, a sensible metallic colour, the tlc servicing package and one of the option packs.

Published : 20/04/04 Author : Melanie Carter

MINI Convertible News

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