Hello everyone. My wife and I finally ended up deciding on buying a new Mini (and not a used one). We were prepared to take the 4.9% rate at Pentagon Federal CU for 72 months but the Mini Manager at Bill Jacobs recommended that we look at the Owners Choice programme. From what he explained the way it works (and the fact that we can keep a monthly payment slightly below $400 a month for a $23,300 value Mini) made it seem perfect, but I am really worried that there's a huge drawback somewhere.

As far as I know this programme is only available in IL and TX. So I ask, has anyone in this forum financed their cars in this way? We're going back to Bill Jacobs monday morning so any feedback ASAP would be extremely appreciated.

BTW, they gave us a car that we might decide on for loan during the weekend for us to try out. IT IS BRILLIANT!

 

I actually did the Owners Choice...

It is basically a lease that either ends in you returning the vehicle or you re-finance it at the end of the lease...

With my switching out cars as much as I have (4 over 3 years ) this route seemed like the best idea at the time..

 

torobud- wat's the best idea this time?

 

huh?

I have no idea about other people situations but I was able to do an owners choice for about $380 per month with only $5K down... Doing traditional financing it would have been about an additional $50-75 per month...

I don't plan on getting rid of my MINI any time soon... but then again I said that about my MX-5 and the second SRT-4...

 

yah, never say never.

i asked cause you said "best idea at the time.." so i thought
you had regrets or something.

 

well my car has been back to the dealer 4 times already (counting the scheduled appointment next week) but.... no really I am still very happy with my R56

Regret was trying to drive my Mazdaspeed MX-5 in the snow the first time... it was sold less than 2 weeks later...