My bank booked the car at around 4500-6500. It was interesting that the special editions even though they carry a premium at the dealer do no necessarily translate to a better book value down the road. (this being the most obvious car related fact written) The laurel edition even though not many were made ( i believe 100 hardtops got this treatment) is not listed as a special package that can be selected similar to a JCW package or checkmate package. So when you have enthusiasts that bought one of these try and sell them and think they have something special the book value is no more than your ordinary cooper s. 05-06 R53's are close to this book value at least from my banks prospective. I inquired and both years with around 80-100k hit that 4500-6000 mark, in the most general terms. I am not sure how the bank values automobiles, i would assume they use a pricing guide like NADA or KBB. But then again I would think that the factor some kind of risk into the equation as a lender. I for one am grateful my lender has a more realistic pricing guide, it seems anymore banks are willing to lend all kinds of money to people with the most outrageous terms.
Agree, this could be the MINI gods telling you to look for a R53! Any time I had to make a claim on GIR I had to make sure they looked in NADA, they have a section that deals with classics.
If you're talking about Pentagon Federal CU I'll second that. I've been a member since the mid 70's and they've always treated me right.
Yup.. they have been great. This depends, similar to insurance. My 88M5 is a great example. When I purchased it, the value the bank would lend varied dramatically. Insurance was even more interesting. All would start with yea, we insure that. Then when you gave them a VIN.. some would stutter.. pause an then go. “Is that a high performance vehicle?” I would say.. yes, like I told you. But others didn’t do that and insured it as normal. So if you want it and the price is right, I would just call around. You just may find a deal you like. Josh
