Just following directions and making my first post in here. I am in the process of purchasing a 2007 MCS and stumbled upon this site during my research. I work in Boston and use public transportation to get around most of the time. I sold my last car (a 92 MR2 Turbo) this summer and have missed having something to take weekend car trips in (the girl's V6 camry just doesn't cut it).

I come from a euro car background, specifically VWs. From my years on vwvortex I know how defensive people get about their cars and the constant comparisons of GTI/SI/MCS probably scare people away from VWs on this board, but I see my VW passion and Mini interest as fairly congruous. I really am just into unique/rare cars.

I had a '93 Corrado SLC (50k original miles, oettinger body kit, schrick manifold, CAT 268s, TT exhaust, CAI, Audi TT 5 spokes, GIAC chip, upgraded brakes, H&R coilovers, the obligatory stereo stuff, interior updates, etc). That was my pride and joy, but I have also owned a MK2 Jetta GLI, MK3 GTI VR6, Integra, EG Civic, Eclipse GSX, and mr2 turbo.

Did my share of racing (SCCA Solo II, road course events back in MI, and drag racing). Also was one of the original members of MIVE (michigan volkswagen enthusiasts).

Looking forward to getting back into the car scene, although won't be looking to pour money into modifications on the MCS. I don't really "need" a car, as most on the board will appreciate I've just found it hard not to have something fun to drive.

Now that the boring bio stuff is done, I've got a question. Does anyone know what Mini's current financing is like? Like I said, I'm going to be getting an 07 MCS and am trying to decide if I should finance through the dealer or if I should go to a third party and get a loan. I'll be putting down around $10k-12k on the purchase, so will be looking to finance around $12k probably. Anyone know if Mini's rates are fairly competitive? I'll be paying it off within the next two years, but would probably go with a 36 or 48 month loan just to be safe. I have an excellent credit history, no CC debt, and the only debt I have are my student loans so my credit report shouldn't be a problem.

Thanks.

 

I won't be financing my MC but when I asked what kind of rates they could give me, they said they usually run between 8% and 12%. Since i didn't go through with the financing I can't say for sure if those are their rates are accurate. I also don't know if rates vary by dealer location.

 

Congrats and welcome!

This seems to be the mandatory first question from what I've seen; what color and specs? Are you buying something off the lot?

Are you going through Herb Chambers? They're really cool and helpful.

The rates flucuate according to...something. Last I asked it was 6.5%, but I think that was for 60 months. Bankrate.com is a good place to compare your options. Usually a credit union is your best bet if you're in one. Particuarly in your situation, a quarter percent is going to be a very minimal difference. Maybe the biggest rate difference is going to be in your loan term. E.g. maybe 6.5 is the best you'll get for that 48 months, but you can find 5.5% for 24 months.

 

We're not financing with MINI, but when I asked about rates the MA said that high 6%, close to 7 was the best rate at the time. They don't run special discount financing to get people to buy like many car makers do.

 

Welcome to NAM!

 

Thanks for the info. 8-12% would be pretty bad for a new car loan and I'd probably go with a different financing option if that were the case, but if it is somewhere in the 6-7% range I'd probably just go with Mini since the difference is going to be minimal if I'm paying it off within a couple years. I'm not in a CU, but could join one through my work if it were worth it. My Dad has financed through Costco in the past and I had him look up what options are available and looks like I could get a membership there and recieve a capital 1 loan for around 6%.

Not sure yet about color and specs. I'm not too picky and therefore don't plan on special ordering it and joining the lists of people waiting for delivery. I'll probably just buy it off the lot.

I'm probably going to go to Herb Chambers this weekend actually. I haven't actually test drove an R56 yet, so will do that on Sunday. I was planning on buying from mini of peabody though, since they list their cars at MSRP and herb chambers was marking all of theirs up the last time I looked at their inventory. Unless Herb has the color/options that I want and peabody doesn't, I'll probably go with peabody just so I don't have to deal at all with haggling.

I take it you've purchased from Chambers before and have been pleased with them? I've heard good things about mini of peabody, but would be open to Herb Chambers if people have found them to be a good place to deal with as well.

Thanks.

 

Just realized that saying "I'm not too picky" might come off as "I don't really care." What I meant to say is that I will probably go with something subtle. I like the darker silver/grey and the black, but wouldn't be opposed to the white either. Not really interested in anything too bright (like the red or blue) or the green. As far as options, the only things I'm sure I want would be the sunroofs and possibly the LSD. It'll totally be just a fun, weekend car that will maybe see 300-400 miles per month so I'm not too concerned about some of the options like the red leather seats or upgraded stereo.

 

Welcome to NAM and to MINI-hood!

I ordered my 2006 MCS from MINI of Peabody and they were great! I would recommend them, just from experience sake, but if you have no way to get out there, then check out Herb Chambers first. I will say though, MoP has their own lot, so you might have more choices for finding a MCS on the lot, but since they are new, there might not be any available, even though there are *a lot* there. Most are already usually spoken for by people ordering... and since the list is still long on waiting for orders, it might be harder. But, don't let that deter you!! There still might be some on the lot, I suppose just don't cancel MoP out, seeing as have they have more space to put more MINIs.

Have you seen MINI2? I know a lot of people think it is confusing and harder to navigate through, but please please check out http://www.mini2.com/forum/new-york-new-england-region/ . It is really where all the "locals" of MA, NH, RI hang out. We chat it up daily and plan things all the time on there. I actually only use MINI2 just for the NE forum and NAM for mostly everything else!

If you have any other questions, let me know! And if you see a Chili Red/Black MCS with a vanity plate "PIRHOS" motoring around, that's me! Good luck!!

 

I never heard about Herb Chambers marking up. I special ordered (my color hasn't started being produced yet), and that was straight MSRP all the way. It sounds like you have a best of both worlds plan though. Go to Herb Chambers, see how the staff feels to you and get some quotes from their mouths. They're real laid back and friendly but helpful and competant when you have questions. Maybe that's not for everyone. If you're not satisfied, you've got options at Peabody! One note about Herb Chambers logistics: they have a large inventory, but most of it is at a warehouse in Charlestown.

 

That's cool, didn't know that! I was wondering where everyone was!

 

Yeah! Its really odd how everyone sorta congregated there in the end. (I just joined the MINI world last year, so I don't know the whole history).

I do understand that's why ALOT of people don't go on MINI2... the interface IS more confusing. But seriously, just bookmark the NE forum once and you'll never look back!

Hope to see you over there! BTW, my handle is the same on MINI2 as well.

 

My MINI dealer just quoted me a 8.9% rate, saying their rates go from 8 - 12, so I "am lucky." My credit union gave me a rate of 5.9%. If this is typical of MINI, you should definitely finance elsewhere.

 

Welcome to NAM!! I'm sure your going to enjoy the Mini no matter what model or where you get it.



06MCS/DS/B/Bbonnetstripes/Whalen8ballshiftmachine

 

I'm in the Boston area and I chose to finance through my credit union. The rates I got is 5%. BTW, which dealers are you buying your MINI from? Herb Chambers or MINI of Peabody?

 

By the sounds of it I guess it makes the most sense to finance outside of Mini. I haven't decided yet if I'll go with Herb or Peabody. I guess it will come down to what is available and who will be able to give me what I'm looking for at the right time (and price).

It was mentioned earlier that alot of the cars that are at the dealerships are already spoken for... I hadn't even thought of that. I know that Peabody has a dozen or so listed in inventory on their site. I guess I might have to join a waiting list after all. I was hoping that since I'm looking for a stripped down, low option, 07 MCS in a basic color that I'd be more likely to pick one up off the lot than if I was looking for a blue one with every package and a JCW aero kit or some other unique combination.

 

Welcome 2 Nam!

 

Good luck and let us know the good news!

 

First off, Welcome to NAM!

Second, as to your quote...

I said the same thing when I bought my mini... it lasted maaaybe a year. All it took was one trip to MOTD and 2 hours under the Helix tent... and now I'm addicted to modding the mini.

(she'll be back under the Helix tent again this year)

 

Good point. Lets just say my goal is to make it at least a year without modifications. I've had the problem in the past of buying a car and already knowing everything I wanted to do with it. Then, after pouring money into it I would get bored with it once I was done building it and sell it for the next project (hence why I've owned 7 cars by 23). I just want to get a new car, with a warantee, and enjoy it for what it is for a year or so. After that I'll have it paid off and will probably want to at least do the basics (suspension, brakes, wheels/tires).

Of course, its been my experience with the two turbo cars I had (GSX and MR2 Turbo) that the temptation to mod a turbo car is even greater since it is so easy and relatively cheap to get significant hp gains out of them.

 

Just made the purchase tonight! Put in an order for an astro black with black top, red leather, anthracite headliner, prem. package, piano black interior, and floor mats. They were able to modify a car they submitted already and said it will go into production this week and I'll be driving it the first week of May at the latest.

 

Congratulations, sounds terrific! That also sounds really fast for delivery, but not necessarily unrealistic. I hope all of the timing like getting on a ship works out for you!