New or used car? - Mini Cooper

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  • Mini Cooper costs less new than used
  • Despite the used model being a previous generation model
  • New model works out £800 cheaper over three years

Would you ever have imagined that a brand new latest-shape Mini Cooper could be cheaper to buy than a used model – even if that used car is the previous-generation model? In fact, our research shows that choosing the new 1.5-litre petrol model over the closest comparable one-year-old Mini could leave you £800 better off over three years. 

How? Well, on this occasion, it has less to do with Mini’s less-than-generous three-year 6.9% APR PCP deal (compared with the typical high-street loan rate of 4.8%) and more to do with the fact that residual values after one year are extremely strong.

Most used examples are specced to the max, but if you buy new, you’ll still get standard kit, including DAB radio, air-conditioning and Bluetooth phone connectivity, on even the entry-level model. If you’re wondering about the logic of opting for Mini’s higher interest rate, it’s worth remembering that, thanks to
a £2233 deposit, you’ll enjoy lower monthly payments than an equivalent personal loan. In addition, dealers are currently discounting the new Mini by around 3% when you buy on finance – no savings are available to cash buyers. There you have it: the latest, smartest, most efficient Mini Cooper for less than the old model.

Verdict: New

New or used car? - Vauxhall Insignia

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