Ok here's the story. I ordered my mini way back in September. I got approved for credit, left my deposit, and began the looooong waiting game. My car hits the shore dec 15th with a possible pick up date of dec 20th. Now the freak out part. I just got a letter today (Dec 1st) from BMW financial services, saying that my application for credit was denied or is at a higher interest rate than I may expect. This is a full 2 months after ordering and being approved, and leaving a deposit. I'm 14 days from my car arriving and 19 from delivery and I get THIS. From what I understood, when I got approved, I was locked in and guaranteed the price and interest rate. If it got better between order and delivery, I would get the best rate, but was guaranteed the original amounts. Funny thing is my credits not bad at 700 and has only gotten better between order and now. I called and left a message with my MA and also emailed him. I know I'll hear from him tomorrow, my dealership has been amazing. So what do you think? Am I freaking out too soon. I'll know tomorrow. But I'm just hoping for some friendly reassurance.

 

Probably what happened is they tried it differently and it was originally denied. Now you are first getting a letter. I had this happen years ago with a different vehicleaybe they tried it with a lower down payment and at first it was denied and then rasied the down money and it was approved. But I do think the deals are only good so long.

 

That's what im thinking. That maybe they are shopping a lower rate and I'm being denied. I'm sure my original approval stands until delivery of the car. After writing this all out I actually felt better. And reality is, there's nothing I can do about it until tomorrow. But friendly talk helps. Thanks.

 

When I ordered mine and got approved my MA gave me a copy of san "Approval Notification" from BMW Group Financial Services. That letter says the approval is good for 90 days.

 

Well the computers were acting up and it was late Sunday night when I ordered my coupe. I didn't get official approval that night. But my MA called me the next day and told me that they got the approval and we were a go. I didn't get an "approval notification" I truly hope I am not f------d. I've been waiting for so long. Still counting on it being a fluke. We'll see.

 

My guess is that Spice Orange JCW has it right.

 

The MINI Financial approval is good for 90 days. As long as you close the deal prior to the end of that 90 days they shouldn't be able to deny you. But it sounds like the timing might be close on that. Bust out a calendar and figure out when the 90 day mark from approval is and see if it's before or after your expected delivery date.

 

We're on the same boat. I will be sweating too until I get the papers signed with the keys in my hand and a full tank of gas.
Almost to the Islands now.

 

Well, it's tomorrow. Now the waiting game until my MA gets in to work. I'm sure everything's fine.
Fastblue: when did you order yours when is your delivery date?

 

Even if you don't get it through BMW financial usually the finance dept will shop it around to some banks to get an equivalent rate. If you are a member of a Credit union you should call them up to see what you can get to

 

My order was in at the end of October I think. The ship should dock on the 15th of December. It should be about two weeks after that to get to Colorado by truck.

 

Ok so everything is ok. My MA called me with my approval in hand. What happened is whatSpice Orange JCW said. The first attempt to get approved didn't go through. I increased the down and then went through fine. The letter that I got was from the first attempt. So everything is fine and I can once again continue the countdown until my coupe hits the dock. Fastblue, you and I are on the same ship. :-)

 

I am glad everything was ok.

 

Our 'kids' are now chugging closer to the staight between Pueto Rico an Hispaniola. As long as sombody isn't thirsty for fresh Rum, we should be OK for the 15th to port.

 

Woo hoo!!!!! :-)

 

Congrats !
You need to join the T-shirt crew on nam ! We love rum & bacon !
EL Tiger / Honey Badger home of 2011 SEC football champs LSU !

 

Now I'm the one needing some support.... Tracking from the Mignon has not been on for a couple days and she is due through the canal. I keep checking and re-checking.
Oh, the insanity.....

 

Glad to see everything worked out!!

 

Haha I know what you mean. I knew it would disappear once near the canal. It should be going through today or tomorrow I think. Then within a day or so it ought to pick up again on the radar. At least not seeing it means it's getting closer and closer. I can't stand the anticipation. But he's almost ashore. Just 9 more days. Can you believe it? 9!!!

 

Now it is parked at the Manzanillo Terminal> Only 40 miles through the canal then 3000 north to Port H. Then comes the 1500 or so nail biting miles to Fort Collins, CO.

 

Sit tight my friend. This wait had been grueling. But it's almost over now. I'm only 65 miles from the VDC. So I'm hoping to be lucky enough to get him before Christmas soni can begin the breakin process driving home for the holiday. Fingers crossed.

 

we are through the locks and underway in the Pacific Ocean!!!

 

Good luck with the wait guys. I remember how grueling it was. Thank god I'm on the east coast and didn't have to deal with the extra 2 weeks of shipping time. Ahh I'm having awful flashbacks as I type.

P.S. if it makes you feel any better, 1.5 yrs of ownership and the Owners Lounge still says my car is "en route".

 

Haha. Yeah I found the Mini OL to be utterly useless.