Mini values may slip

24 February 2005

Mini residual values could slip later this year as more and more used examples reach the market.

Although second-hand values are likely to remain strong in comparison with other marques, Whatcar.com's used car expert John Coates reckons a readjustment is inevitable.

There are so many about now, they're not difficult to find. The prices that some dealers are asking are just unrealistic when they've got 10 Minis lined up on the forecourt. It's just not sustainable.'

More than 130,000 Minis have been sold since launch nearly four years ago, and it was the 15th best-selling car in Britain last year. Such strong sales have given the cars a very visible presence on the roads and used forecourts.

Coates believes the crunch will come after the summer. The arrival of the Mini Convertible last July helped to bolster values of the hatchback version as it reached the three-year-old mark. The drop-top could well prop up prices through this summer as well. So, if you're not in any hurry for the hatch, waiting until the autumn could save you money.

The entry-level Mini One and the standard Cooper are the most likely to fall in value, while Cooper S, Works and convertibles should depreciate more slowly.

With production already increased this year, and set to expand further following the recent announcement of a £100 million investment, even more Minis will flood on to the roads and put further pressure on second-hand values.

Currently, the Mini is tipped to retain 71% of its value over three years, so even a slide of a few percent will leave the car head and shoulders ahead of supermini rivals such as the Seat Ibiza and hot-hatch competition such as the Volkswagen Golf GTi or Honda Civic Type-R.

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