F55/F56 APR rates for F56
#2
New car rates are better than used car rates, of course. The rate will differ depending on the length of the loan where shorter term loans (ie. 24-36 months) get a better rate. I'm probably going with USAA.
I wouldn't think a new launch like the F56 would get a better rate, but I honestly don't know either way. Maybe someone else knows the correct answer.
I wouldn't think a new launch like the F56 would get a better rate, but I honestly don't know either way. Maybe someone else knows the correct answer.
#3
New car rates are better than used car rates, of course. The rate will differ depending on the length of the loan where shorter term loans (ie. 24-36 months) get a better rate. I'm probably going with USAA.
I wouldn't think a new launch like the F56 would get a better rate, but I honestly don't know either way. Maybe someone else knows the correct answer.
I wouldn't think a new launch like the F56 would get a better rate, but I honestly don't know either way. Maybe someone else knows the correct answer.
#5
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#7
I know that the new F56 will not have any special finance rate through Mini Financial so my guess would be what the current market rate would be depending on your credit score. Doing a quick google search, I'm seeing between 3-5% based on good credit. That would be my guess
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#8
#9
There is an additional discount on the rate if you buy your MINI from a dealer in the USAA network. My MINI dealer is not in the USAA network although they gave me the $500.00 USAA discount. The nearest dealer in their network is down in New Jersey (Prestige MINI).
#10
#11
I am a Finance manager at a Franchise Dealership (non MINI) and can say new car rates are very competitive with our banks. Manufactures do offer promotional rates but they usually exclude the newest and most desirable models. New car rates are most effected by term and credit score followed by Loan to Value (LTV). My banks offer additional discounts to the rate for such things as LTV of less that 90% (equity discount) and big ticket discounts if you are financing greater than 25k. The F&I person does make his living brokering loans on behalf of the dealership and has acces to more financial sources than you do as an individual. He or she also has preferred lenders who can make exceptions for term and rate. My suggestion is to work with your dealership finance person as soon as you have committed to numbers and give them a chance to earn your finance business, the banks pay them for the deal and they will appreciate it more than you bringing in a check from your own source. I can tell you that I can beat USAA and almost every credit union quote that I get from customers. I also have dealer agreements with most of the area credit unions which means I can keep a customer with their favorite credit union and streamline the lending process which eliminates the need for them to take additional time off work and make trips back and forth. If I can't match or beat a rate I will tell the customer upfront.
#12
I am a Finance manager at a Franchise Dealership (non MINI) and can say new car rates are very competitive with our banks. Manufactures do offer promotional rates but they usually exclude the newest and most desirable models. New car rates are most effected by term and credit score followed by Loan to Value (LTV). My banks offer additional discounts to the rate for such things as LTV of less that 90% (equity discount) and big ticket discounts if you are financing greater than 25k. The F&I person does make his living brokering loans on behalf of the dealership and has acces to more financial sources than you do as an individual. He or she also has preferred lenders who can make exceptions for term and rate. My suggestion is to work with your dealership finance person as soon as you have committed to numbers and give them a chance to earn your finance business, the banks pay them for the deal and they will appreciate it more than you bringing in a check from your own source. I can tell you that I can beat USAA and almost every credit union quote that I get from customers. I also have dealer agreements with most of the area credit unions which means I can keep a customer with their favorite credit union and streamline the lending process which eliminates the need for them to take additional time off work and make trips back and forth. If I can't match or beat a rate I will tell the customer upfront.
#13
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#18
I can get 1.99% with USAA (would have been even lower if my dealer was in their MINI network), but on Swimbaxter's advice I will talk to my dealer as well before committing.
Swimbaxter, do you recommend or not recommend leasing? Except for the lower monthly payment, I have no other need to do a lease. Just looking for any advice you might have.
Swimbaxter, do you recommend or not recommend leasing? Except for the lower monthly payment, I have no other need to do a lease. Just looking for any advice you might have.
#20
I can get 1.99% with USAA (would have been even lower if my dealer was in their MINI network), but on Swimbaxter's advice I will talk to my dealer as well before committing.
Swimbaxter, do you recommend or not recommend leasing? Except for the lower monthly payment, I have no other need to do a lease. Just looking for any advice you might have.
Swimbaxter, do you recommend or not recommend leasing? Except for the lower monthly payment, I have no other need to do a lease. Just looking for any advice you might have.
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