Have you looked at PenFed, the Pentagon Federal Credit Union? You don't have to be military or DoD to join and their rate is 4.5% for up to a 72 month loan and cheap GAP insurance is available. They also have ballon payment loans ("Payment Saver Auto Loans") available at 4.75%.

You do the whole thing online and the fee to join is $25 if you have no military connection. After you get approved, wait a few days and a check shows up at your door.

They calculate the "MSRP" of a MINI at $25800. If you need more than that, you can get 10% over their MINI max.

I went with PenFed and was very pleased with the whole process.

Jeremy

 

I managed 5.25 for 72 months from my credit union.

 

I've financed with BMW Financial before - they are top notch. Customer service is superior. I was given a rate this time of 5.59% 60 months. (We have a credit score of greater than 800 too - so that higher interest surprised me.)

Capital One has VERY fast approval and offered me 4.79% for 36 months, or 5.22% for 60. I did not try PenFed, but have been reading another thread here (do a search for either financing, or PenFed) and it seems to have many good points.

Goggle Capital One and BMW, there are discussions out there about customer service - BMW wins hands down. Not sure about PenFed though except what I read here. Seems people have a very good experience, like Merlin, or they do not. You could try all three - if you do it within the same time frame, your credit report and score will only reflect it as one inquiry since it is obvious you are shopping for rates.

Bottom line - interest paid is wasted money so I intend (that's the plan anyway) to pay off this Mini in less than 2 years. So - for me, BMW Financing is the most pleasant experience and you cannot beat their customer service. The difference for my loan (only financing half) is minimal.

On another note, I would not worry now about getting extended warranty if that increases your loan amount, you can always do that at the end of your current warranty. However, GAP insurance is important - but how important all depends on your current insurance.

Good luck!

 

Cybergypsy, we are doing the same thing.

I am not a fan of car payments.

 

for me its the best way ....payment arecrap

 

I wish we could get an idea of where the Caribbean Highway is right now. Three days out from Charleston.

Here's the dicey part: I have 2 days next week when my wife is off and I'd be able to go up and take delivery -- the 14th and the 18th. Even then as we get closer to those days my work schedule is filling up so it's getting harder and harder to reserve those days. Wife works the weekend of the 19th, so no delivery for me then.

I have to find out soon!

 

have the dealer deliver it to you at work

 

The Caribbean Highway lands in Baltimore today and leaves tomorrow. I couldn't find a shipping schedule for the Port of Baltimore to know when she actually comes in and departs.

A competing MINI dealer here in Dallas offered to deliver my MINI to my house, 55 miles away from the dealership. (They never returned my calls when I was trying to check their incoming stock, so they lost my business).

Jeremy

 

But who want a delivery person to drive your baby first....you need time to bond

 

out of my 61 cars, I had payments on a 06 civic with navi, the reason i did it 10 years ago some used my credit for fraud... I been fighting it ever since.. I am getting a new SS# next year

I just never do payment, same with the homes i flip, i pay cash....

 

Impossible. I'm 3 hours from the dealer. :(

 

we also live 3 hours away from our dealer... gonna suck taking it back for the free service!

 

Wow thought i was far at 85miles, but Orlando has a Ikea store which I love...so its a great reason tho shop

 

61?! That is about 48 more than I have owned.

I tend to keep my cars for a while and I only own one or two at a time.

 

We were considering getting our MINI at Downtown MINI in Orlando. I even called them when we were on the way to Tom Bush. I talked to Larry and he didn't seem too eager to earn my business. In fact, he even said that it wouldn't make a difference where I bought my MINI.

Another MA from Downtown emailed me the next day and I had to tell her that Larry just dudn;t seem to interested in selling me a car so I stayed local.

We go to Orlando all the time. I can't wait to load up the Clubman with Ikea stuff on our next trip.

 

My factor was Tom Bush, in Jax offered me 10,500 for my mini, downtown offered 13K for it, it was like getting a free navi, I work with Brittnay and she is great..was looking into Tampa mini dealer BUT the kept telling us it would be here in 4 weeks..... but heard rumors the were told to say that i spoke to a customer they said 6 week
so stuck with Downtown Tom bush was very nice but the trade in killed it

 

Which is why I won't. I'll be paying for my oil changes. Any warranty work will go to Atlanta which is only 2 hours away.

 

Hmmm the port of Charleston expects the Caribbean Highway on July 8th which is when my ship, the Courage is due in too.

http://www.port-of-charleston.com/vessel_schedule.asp

I looked at the Baltimore site too and couldn't find a vessel report :(.

 

I guess the question then is how long does it take to get the cars off the ship, to the VDC, and then to the dealer in Nashville?

 

Maybe I have this wrong - but I thought that it doesn't matter where or what dealership you purchase your Mini, the free service for 3/36,000 is good at any Mini Service. (For example, what if you relocated from Iowa to sunny Florida soon after purchasing your new Mini? It seems reasonable that you'd just go to the new Mini Service in Florida.
Am I missing something here?

(I ask too because I bought my Mini from Nashville because I could take delivery on it next week when STL was closer to mid-September.)

 

Maybe what he means is that he won't be driving to ANY Mini dealership for "free oil changes" since they are too darned far away from his home. Driving a total of 4-6 hours round-trip for an oil change is crazy. The big problem with Mini is the dealerships are few and far between for many folks....it's cheaper/faster/easier to do it yourself or go to the "quickie" oil change place around the corner.

But on another of your questions: yes, you can take any Mini to any Mini dealership and they will honor the free warranty and maintenance agreement....regardless of where you bought the vehicle.

 

Per my MA, Priority One vehicles (i.e. vehicles with a buyer already attached) generally get through the VDC within 2 days of arrival. Note that Charleston doesn't have a VDC on location. The vehicles will travel to Spartanburg, then from there to your dealer. My MA stated that the absolute latest I should have my MINI is the 15th, and expect it probably earlier.

 

Hmmm odd how week 25ers look to be getting their cars at the same time as week 24.

Siva, where are you located? So I guess those getting off in Charleston will take longer since they have to go to Sprartanburg first. :(

 

It looks like luck (or bad luck) of the draw as to which boat you're on. Unfortunately, you missed all the boats that left Southampton in your first week off the line and ended up waiting into the week 25 ships. Then, the ship you are on makes two stops, including a few days off in NYC before finally arriving in CHS. Total bummer.

Waiting to get on a ship was the worst of this process for me, so far.

 

Mine hits Ga on the 9th