Now that se is almost gone and we probably won’t see the jo1 until 2027 what do you think will happen to resale values?
I bought a 35k car for basically 26k after the 10K in tax credits. If I get 16K after 3 years that's 275 a month. If I get 21K it is about 140 a month or $5 a day to have a new car in the garage. That is about a cheap as one can use a car. Im not sure I would sell it at 15k. How low can it go? It takes both a willing buyer and a willing seller.
last week there were around 375 new SE vehicles as reported by cars.com. This week there are 406 new SEs. Is the Oxford plant still producing new SEs for the American market?
Following up on the article George posted. https://insideevs.com/features/709877/used-mini-cooper-se/ Plenty under 25k. Used from a dealer gets the 4k used EV credit on top of these asking prices. https://www.autotrader.com/cars-for-sale/all-cars/cars-under-25000/mini/cooper/se/englewood-co?newSearch=false&searchRadius=0&sortBy=derivedpriceASC&zip=80110 The good news for buyers: The ones for $15k with 20k miles on them. A car with 20k miles for about $12K. Perfect car for a new driver if there is a place to charge it. The bad news: I am upside down on mine, and I don't have gap. I better not get in an accident.
I have been wondering about depreciation too, with recent reports saying many EVs see significant drop in value after 2 -3 years, eg Porsche Taycans more than $100k!, but perhaps more relevant, something like the Polestar 2 dropping ~40% in 2 years, many with modest miles on them. I'm hoping the curve flattens quickly! I think Tesla reducing the price of the Model Y from about $65k at introduction to about $46k now have contributed to this effect. What I find a little odd about the above Autotrader listings are that there are 2 cars at the same dealer in NJ substantially cheaper at ~$15k than everything else. Also the NJ one with 23k miles is an iconic while the other is a base signature, yet the iconic is actually less. I didn't dig too deep into the listings - maybe this is an outfit that makes up a low price with huge fees. There seem to be a lot starting just below the $20k mark with lots of variation in miles. Looks like lightly used 23-24 models are commanding high 20's to mid 30's, whether that's what they'll sell for ... The $4k tax credit applies to cars that are under $25k and are 2 or more years old - presumably that 2 years is based on when it was first registered. I'll keep my fingers crossed that the enjoyability from driving it and lack of a new model will help keep values up over the next few years. My wife has become a convert saying how much more she enjoys running errands in it than the lumbering old Honda Pilot we have that gets a dismal 14mpg or less in local driving. This was my analysis: add an EV to the household for local duties and leave the Pilot at home unless its space is required. Save fuel, save money. And the lease incentives on the SE made this an ideal choice (I'm also a convert with an R56 MCS). The only other contender was a Bolt and I never bothered to try one as inventory was diminishing. cheers MacMini34
One thing that's bringing down the values of other EVs is the glut of those EVs with supply now exceeding demand. They are all big cars, SUVs, or trucks because that what most American's want. There is no small, sporty EV other than the MINI Cooper SE. The reason its values are decreasing is because it is not a big car, SUV or truck and the supply still exceeds the demand. I believe that if Americans still cared about vehicles offering exceptional driving dynamics instead of greater size and utility, the value of the now-discontinued MINI Cooper SE would be increasing. Perhaps demand will increase during the multi-year wait for Plant Oxford to begin producing the Chinese J01 MINI Cooper SE for the US. Perhaps demand will increase after the deliveries of the J01 begin.
The $14,899 21 SE with 19k miles VEHICLE OVERVIEW Price without rebates: $18,999. The advertised price includes Federal EV Tax Credits of $14,999. Prior to purchase, please determine your eligibility for this credit and any local credits offered by your state or county. Reference: https://www.irs.gov/credits-deductions/used-clean-vehicle-credit So, after $10k state and local credits I paid 25k for my 23. That's a 25% depreciation hit and my car has half the miles and is 2 years newer. Phew. I am not depressed now.
They are good deals there 2023 /$23000 - milage 1750 /$4K tax credit for use one $19000 what’s a deal one owner no accidents They not that hot that listing is for 81 days on Car Gurus.com
I'm so grateful MINI chose to sell the SE in NA. It's too bad they wouldn't ship any of the 1,000 SE ragtops they made over here, but they probably wouldn't pass National Highway Traffic Safety Administration roll-over tests. After making the EV commitment, I'm surprised MINI didn't plan to continue the sale of MINI Electrics in NA without interruption. (I don't accept the giant, 4,500-lb, 2025 Countryman SE as a MINI electric--it's a rebodied BMW iX1.)
