New MINI Set To Become Least Depreciating Car
July 23rd, 2009. Published under Cars and Trucks. No Comments.
BMW have recently launched a new entry level model MINI - the MINI First - aimed at targeting the lower end of the market as competitors have recently made bold bids to eat into market share.
Fiat began the onslaught when releasing the 500, a cute, retro hatchback with add-ons and a number of customisable extras which has been a successful release for the Italian car company: they followed the MINI model and have taken some of the market share away from BMW; fair play.
But the Germans are fighting back with the launch of the MINI First, and although this particular model of the iconic hot hatch boasts less extras than its similarly priced rivals, there are a couple of big incentives for buyers.
Now, we all know that buying a brand new car is not a particularly prudent venture, in fact a brand new car invariably loses value as soon as it leaves the showroom, yet the MINI First is set to become the least depreciating car in its class.
MINI believe that the First will retain value better than any other vehicle in its field and will be worth at least 50 per cent of its original 10,950 pounds on the road price tag after three years ownership or 30,000 miles: a much higher percentage than any of its rivals.
The MINI Cooper is already regarded as the least depreciating of cars on the market, which is evident when looking at prices of used models, but the First is set to outshine even the Cooper in terms of retaining its value.
Another incentive for buyers is that the First is eco-friendly with emission levels of just 128g/km whilst returning almost 54 miles per gallon. BMW’s EfficientDynamics engineering is also in evidence with all of their hatchback vehicles so features such as start-stop and brake regeneration will also help reduce running costs, which is not only good for your wallet but is also beneficial in terms of global warming.
Not only will running costs be low but servicing costs are also very low as BMW are offering their TLC package that will cover servicing costs for the first five years ownership for a one-off payment of just 185 pounds: this is unheard of for a brand new vehicle.
Whilst people are still reluctant to purchase a brand new car during the current economic climate this entry level car is certainly one that will sell because of the factors discussed, particularly for those taking advantage of the Government Scrappage allowance.
Thomas Pretty is car journalist with many years of experience writing about the car sales industry. Find out more about MINI at http://www.coopermini.co.uk/