Much more fun to drive........
This subjective statement would get an argument from many including me. I've driven several Miatas over thousands of miles and while it's a fine roadster, I much prefer how my Mini drives, especially how much roomier the cockpit is.
I have a 2004 MCS bought new on which I have about 25K miles. It's the only car I've bought that, four years into ownership, I enjoy driving as much today as the day I bought it. Most cars I sorta lose interest after a few years, but the Mini still feels fun, fresh, and different. It's as close to a motorcycling experience in a car as I've found.
It's also amazing practical for a sporty car (in marked contrast to something like.... a Miata). It's got a ton of room inside, I haul my bicycle around in it, pick stuff up at the home store, haul kids when I need to, etc. My wife and I have taken several long driving vacations, and although the ride is stiff, the seats and driving position are conducive to long days and the visibility is great for road touring.
I've had two minor issues - a broken window lift and a power steering fluid leak. Both were fixed quickly under warrant. Some complain of squeaks and rattles, but mine is rock solid. Having said this, I don't expect my Mini to be as trouble-free as most Hondas, Toyotas, Mazdas, and Nissans. It's built by BMW after all. But it's reliable enough and the engine is bulletproof.
There are drawbacks. Fuel mileage is not up to snuff for such a small car (I average low-20's town, high-20's highway), the backseats are not habitable by adults over reasonble distances, and while the strippers are a good value, the price of the ala carte options is absolutely ridiculous. If you like to load up your car with gizmos, you'll end up with a small FWD car that costs about the same as a 328i and I don't get that. Honestly, you get more small FWD coupe value in a Mazdaspeed 3 or GTI, and you get a car with a real back seat. But neither drives like a Mini. A base MCS is still a pretty great deal and the new turbo motors are very nice.
Sounds like you're buying used, in which case you're just going to be fighting the high resale value. I haven't checked lately, but four years later, my car was worth about 80% of what I originally paid. But with the new turbo revisions and the Clubmans, I suspect used prices have come down to earth. A 2005 is a good year - 2004 was the big change where the exorcised a lot of the original bugs in the new car. I may trade for a 2009 once the new model has had some seasoning, but I drove one the other day and some things I don't like as well. We'll see.
Anyway, it's a quirky but very cool car. If it strikes a chord with you then it will be a VERY fun car to own. If it doesn't, then there are ways to get more car for less money.
- Mark