Ok, so I've got some options concerning my main mode of transportation, my car. I currently have a 97 chrysler concorde, which while it still runs, makes me very nervous because when repairs are needed, A LOT of repairs are needed. My grandmother just offered me her 2002 Mini Cooper (non-S, automatic, 60,000 miles) for $5k. I could have that paid off by the end of this year and have a car that will last for a while. OR I could decide to keep my tax return and a lot of my money and either buy a decent used car (Acura TSX - my choice) in the short term or save up for a new car long-term. So what would you do?
I Need Opinions... What would YOU do in my situation?
- Thread starter gfish31
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iJohnHenry
macrumors P6
Only driven by a little old lady, to go shopping?? 
Go for the Mini. You can get your jollies later, when you have the ca$h.
Go for the Mini. You can get your jollies later, when you have the ca$h.
Capt Underpants
macrumors 68030
Buy the mini. If you wanted to sell it in a couple of years, you could break even.
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mscriv
macrumors 601
Is grandma itching to sell right now or will she just keep driving the mini if you don't buy it? My point is that if your Chrysler is okay for the moment then why force yourself to make a decision right now. You could keep driving it as long as it lasts and if grandma holds onto the mini then when the Chrysler does have a problem you make the purchase then.
obeygiant
macrumors 601
AHOY! Matey, are ye goin' t' keep yer land yacht? Why nah haggle fer th' mini. ARRRRRRRRRRG!
For ye land luv'rs
littleman23408
macrumors 6502
I voted for a decent car in near future. I have been looking at Mini's for quite a while now and have decided against buying one until I can get a brand new one with warranty. I have talked to a lot of people and they all tell me the same thing - they are expensive to fix. $5k may be a steal, but in the long run it will be expensive to fix. Some have even told me they need to go to the shop alot.
my input
my input
Buy the Mini. As someone else pointed out you know it's been taken care of and hasn't been rode hard. Besides, along with a Jeep, the Mini Cooper has the highest resale value of any car. If you decide you want something else within the next couple of years you could probably sell it for what you bought it for (provided there are no damages or issues with the car).
OutThere
macrumors 603
You're in a good position right now knowing that you'll soon need a new car. The position you don't want to be in is that your current car is dead and you need a new one asap. Take advantage of your breathing room to really explore your options. What kind of comparable cars can you find for $5k? Things to consider with the mini: they're expensive to fix and it may be harder to find someone to fix it. You can take the Chrysler to Bill down the street and can get it running no sweat, but finding someone qualified to do work on the mini (ideally not the $tealership) could be a bother. 60k can also be the beginning of a turning point as far as maintenance goeslittle things might start to require attention. Many of my friends in college had European cars roughly that age and mileage and they were continually bothered by minor yet expensive fixes.
I 100% agree with you and this has been factored into my thinking. I've been considering my options for a couple weeks now, and there's advantages and disadvantages to each decision. I've been leaning towards keeping my current car as long as possible and hopefully being able to afford something new(er) by the time it dies. Problem is, if I do that and my car dies in the next month or so, the Mini option may not be there... my grandma was going to trade her Mini and her Fit in and buy a new Mini at some point. Still leaning towards keeping my car though because I think it has a good year or so left in it, and that should be enough time.
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Good price for the mini. Fun to drive too. I have a clubman. Not too bad to work on. Made by BMW. 60k isn't a lot of miles, esp if put on by grandma I suspect.
Still a lot of life left if in good shape.
Good price for the mini. Fun to drive too. I have a clubman. Not too bad to work on. Made by BMW. 60k isn't a lot of miles, esp if put on by grandma I suspect.
Still a lot of life left if in good shape.
Demosthenes X
macrumors 68000
How much is your car worth right now? I'm going to guess $1000.
In that case, the Mini costs you $4000. That's a steal. It will still be worth at least $4000 in a year. If you then decide you want to upgrade, you're no worse off than you are right now.
That's the bad case.
The best case is that the Mini is actually worth more than $5000 right now. So in a year it will still be worth say $6000. In that case, if you do decide to trade up in a year, you're essentially getting $2000 for "free" since you got such a good deal on the Mini in the first place.
Don't worry too much about repairs. Yes, they're on the expensive side. But it sounds like your Chrysler is at the point where it might need big repairs, too. And big repairs and expensive no matter what the car.
The icing on the cake is, the Mini is way more fun to drive than your current ride.
This really is a no-brainer...
In that case, the Mini costs you $4000. That's a steal. It will still be worth at least $4000 in a year. If you then decide you want to upgrade, you're no worse off than you are right now.
That's the bad case.
The best case is that the Mini is actually worth more than $5000 right now. So in a year it will still be worth say $6000. In that case, if you do decide to trade up in a year, you're essentially getting $2000 for "free" since you got such a good deal on the Mini in the first place.
Don't worry too much about repairs. Yes, they're on the expensive side. But it sounds like your Chrysler is at the point where it might need big repairs, too. And big repairs and expensive no matter what the car.
The icing on the cake is, the Mini is way more fun to drive than your current ride.
This really is a no-brainer...
NickZac
macrumors 68000
This makes me laugh hysterically for some reason...but yes, I'd go Mini as well.
