Abbey Road

I found out today that my 2006 Cooper is worth more now today than when I bought it two years ago. How can that be? I remember the old story … new cars loose a chuck of their value as soon as you drive them off the showroom floor. So what gives?

I read a story in today’s Chicago Tribune over breakfast about the value of small gas-saving buggies being on the uptick, even 10 year old cars like the Geo Metro. Didn’t think too much of it until our designer Ken asked me if I’d read the story and snooped for the answers about my Mini.

“Why would I do that?” I asked. “Man, read the story again,” he said. “Small cars are worth more money these days. Next thing I knew he and I were looking up Kelly’s Blue Book. And that’s when the earthquake or sorts hit.

My car with 18,000 miles is worth $250 more today than when I bought it. OK, not astounding appreciation, but how many cars are worth what you paid for them two years after you drive them off the lot? This only happened once before when I sold the 1962 TR-3 I’d kept garaged for 10 years.

So despite cash flying out of my checkbook at a breakneck pace these days, I learned today that I not only have equity in my house, but my Mini as well. I knew I should have bought one of these for my wife. Good thing I didn’t have one BEFORE I met her though.