95 405Mi16 - Should I buy???
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  1. #1
    Join Date
    Jan 2006

    Default 95 405Mi16 - Should I buy???

    Hi all. This is my first post, as I am considering buying a S2 405 Mi16 with the leather luxo pack. I am not sure about the prices that these cars go for. I currently looking at buying a friends pug, and am pretty sure I'm getting a bargain, but just want some confirmation. He bought this pug through a prestige dealer friend, and it has all service history through a pug dealer from new. Cam belts were replaced aprrox 2000km ago by a pug dealer. The car is a '95 Mi16 with the leather option (What I've read on this forum suggests that a 95 mi16 with leather should also have a sunroof, but i'm fairly sure this car does not have one). He bought for $7k, and is offerring to me for the same. The car has approx 140k km's. I'm pretty sure this is a bargain, but am looking for confirmation. Also, the car's exhaust sounds somewhat "tinny", or raspy, rather than deep throated. Is this to be expected, or are there exhaust problems that may cause this. This will be only my second car, my first being a boring grandpa-mobile camry. However, I learnt to drive in a BMW 3.0CSL (the batmobile, and I've been craving that beautiful handling and kick in the pants acceleration ever since), and have had a hankering for a fast euro I can devote some time to for years now. I have been told that this car is insured for $15K, but am rather sceptical. I don't mind paying approx $1000-$2000 on this car per year, but I'm wondering what sort of price I could expect in 2 or 3 years time, as I'm after a car that won't depreciate too badly. Is there a possibility, given that this car is a bargain, that I could still get $7k-$8$ in 2 years time if the car were properly looked after??? Thanks, Zaphius


  2. #2
    Banned orestes's Avatar
    Join Date
    Mar 2004
    Sunshine Coast


    at $7ksounds like an absoloute bargin if it's as good as you say it is, and with 140k km's it's really only just been worn in, and should go for at least twice that many km's. As for the exshaust i'm not sure but someone will chime in. As for depreciation.. well good Mi16's have been holding their value for the last few years now, and I wouldn't expect them to suddenly drop in value any more then what they have, that said their not typicaly an easy car to sell, and you do have to wait for the right buyer

  3. #3
    Fellow Frogger! Dijon16's Avatar
    Join Date
    Jan 2005


    7K sounds pretty good for how it is described, especially compared to what else is on offer. There are still a few variables that need to be taken into consideration, such as when the rego and tyres are due.

    I tend to disagree with orestes a bit on the depreciation. How long had your friend had it for to pass it on at around the same price? There is not a huge demand for these cars, no matter how much we like/love them, and it is the demand (and supply) that will drive the resale values, hence the amount it falls (or rises!) in the meantime. I also can't see an Mi16 being worth more in 2 years time that what you pay for it now, irrespective of how well you look after it. You could get run into by a bus tomorrow. I know it is 10 years old, but you'd be getting this car for a fraction of its new value, and if you drop a grand a year on it, so what?

    Further I add, as others have done is similar threads, that sometimes the maintenance goes in cycles, so that at 140k km it may be up for suspension or brakes or coils or some other electrical gremlins, whereas a car at 200k km may have already had those done (and be up for others!).

    As for the exhaust, I'm no expert, but you should get the cat checked that it hasn't disintergrated in its hidey hole, as if it blocks up the exhaust the header pipe can overheat and catch fire to the engine bay.


  4. #4
    Moderator Alan S's Avatar
    Join Date
    Mar 2001
    Queensland, Australia


    I think you'll find someone down south bought one similar recently for around $11,000 so at $7K this one is definitely a bargain.
    Resale and depreciation has a lot to do with how the car is presented and your attitude towards selling; too often we see cars advertised and then a Dutch Auction run over the next few weeks as the seller goes into panic mode because every Peugeot owner in the world didn't scrap their existing car to buy theirs; it doesn't happen that way. Like any used car, it's not like early post-war days we've all heard about where cars were advertised on a Saturday morning and by 6am the seller had a queue a mile long at his front gate. These days it's a game of patience and presentation and given a bit of time it will sell and for the price you want as soon as the right buyer comes along (often one that's been bitten by a Korean throwaway or similar and who has decided that this time they'll go for a bit of class). Remember too, that most potential buyers are in the same position as you are; they need to sell a car to buy yours, so it's a vicious circle.
    If the exhaust is standard on it, then chances are it may sound a bit asthmatic as they have a cat, a crossways muffler and a back box, so check it against another if need be.
    Do you do any of your own service or are you fully dependent on specialists to do it for you? If the latter, there's a couple of good operators in Brisbane and nearby, so ask before you get anything done as there's also a few dodgy ones too.

    Alan S
    If it ain't broke, use a 12" shifter.....that usually does the trick!!

  5. #5
    Fellow Frogger! nick86's Avatar
    Join Date
    Jun 2004
    Melbourne, Australia


    $7k is very cheap for a good one

    i paid 7.5 for mine with a year of third party warranty, near new tyres, and a downright flawless engine, though the price was dropped due to a number of dints and scratches and some interior messyness

    as for depreciation, as people have said, the right buyer will pay the right price, it could take some time, the one i bought had been on the market for at least a month, i was the first to look at it who actually knew what it was.

    insurance wise i was quoted something like 5200 for comprehensive insurance, and 600 and something for third party fire and theft.

    a "minor" service (oil/fluid change, safety check, spark plugs) costs about $150 at my mechanic, id do it myself but i need a mechanic to do it for the warranty

    good luck!
    '92 405 mi16

  6. #6
    Fellow Frogger! DejaVu's Avatar
    Join Date
    Sep 2004
    Croydon, Melbourne


    Quote Originally Posted by nick86
    insurance wise i was quoted something like 5200 for comprehensive insurance, and 600 and something for third party fire and theft.

    a "minor" service (oil/fluid change, safety check, spark plugs) costs about $150 at my mechanic, id do it myself but i need a mechanic to do it for the warranty

    good luck!
    i was quoted $3200 and $3000 for full comp as a 19year old... and just under $500 for 3rd party i think. i went 3rd party as there was no way i was going to pay a third of the cars value in a year.

    and i also have the same warranty situation where i have to get the car serviced by a pro. but it means i can score some freebies when things break (which they havent yet). my engine has been pretty good to me so far, apart from a crankshaft pulley and basically every hose in the engine bay, nothing has really gone wrong.

    make sure you get it thoroughly looked over by a pug mechanic tho before buying!

    you will enjoy driving an Mi16 thats for sure. my mates are still in awe of how good my "little french car" goes and handles for an unmodified car.
    2013 Megane RS 265 Trophy

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