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MINI- keep or let go?

I have a 2008 Mini Cooper Convertible. It has 45000 miles on it. I bought it when it had 24000 miles.
About a year back, we first started to have trouble with transmission. Since it was under warranty, the dealer looked into it a couple of times before he finally put in a whole new transmission, about 8 months back. Warranty has put in about $7500 on it. It still seems to us that it does not run as smoothly as it should.
Our warranty expires in June. My question is, it is worth investing $3000 on an extended warranty, or should I just sell it? Any insights appreciated.

Since these are considered “cool” cars, you will find plenty of willing buyers who will overlook the problems you describe and get you out from under this high-cost vehicle before it bankrupts you…

@Caddyman

Sell the car and buy something more reliable that’s also fun to drive like a Mazda 3. A Mini can become a real moneypit.

Minis are not known for their smoothness of operation. Perhaps, as fun as this car is, something else would please you more. There are lots of good options available now.

I’m inclined to agree with those that suggest looking for something else you might enjoy. If you keep the Mini you just might end up sinking large volumes of cash into it and never really being happy with it.

Dump it.

Mazda Miata and Honda S2000(used) are great reliable alternates in terms of true sports cars and convertible. Looks is subjective.

Perfect time to sell with summer coming up, let someone else have their dreams in it.

Forget the $3000 extended warranty. Sell the vehicle while it still has a good resale value.

I’m thinking selling is the way to go here.

Another question. What is the best way to buy an extended warranty? Online or at a dealership? Does anyone recommend any particular company?

Thanks for the comments! Got me thinking!

An extended warranty is a money maker for the underwriter and seller, but not typically for the buyer. The amount that the underwriter pays out is less than half of the premium. I would save the $3000 just in case you need it if you keep the car. If you have average repairs during the extended warranty period, you will still have about $1500 in your pocket.

If you like the MINI and are willing to put up with some extra repairs compared to a Toyota, then keep it. I doubt that it will bankrupt you.

The ONLY warranty I recommend is the car maker backed one. Make sure it is underwritten by Mini, those ones pay fine and are not painful for your dealer to work with. Other 3rd party ones have a tendancy to go out of business, scam folks, difficult terms or painful for you or mechanic to collect.

What is the best way to buy an extended warranty?

With imaginary money. Extended warranties are not warranties. They are insurance policies. They are written to make sure that the company backing them, selling them and servicing them are going to make a profit off the deal. They will all be taking money out of your pocket.

I vote to sell it.