Are you guys going with MINI to get the $250 loyalty cash or foregoing it for lower APR elsewhere? I have excellent credit, but not sure what rates MFS has on the R56. My issue is if I decide on an F56 and don't finance with MFS, I lose the loyalty credit and under mileage credit on my lease (about $300-400) so a max. discount of about $650.

 

I used my own bank, but it's worth seeing what they offer for an APR, if its a good deal go for it.

 

I actually just tried doing some calculations after finding MINI is offering 3.19% on F56's and the results surprised me! The lowest I think I could get at my credit union is 1.99%, but it actually works out a few $ cheaper per month financing through MFS at the higher rate with the credits. Guess it reduces the principal just enough to offset the increase in APR! That also makes it so much simpler - unless I can find below 1.99%.

 

They offered me 4% with a $500 "loyalty credit" off the car price but I had to make at least 6 payments to get it so it was basically a wash and I said no. I just used home equity which is 3.2% and tax deductable making it about 2.3% for me.

 

youre also in the coupe right? It has different rates and promotions.

 

FYI USAA is running as low as 0.59% + $500 off if you use their car buying service. I didn't dig into the details.

 

I don't think so, at least not where I went North Scottsdale. They use different banks but the impression I got was the interest rates were similar as long as good credit score.

 

they had no promo at mine so 3.99%. I laugh at them, end of story.

 

Yeah, but most of us can't get USAA...

 

USAA 0.59% is for only 36 month and 1.99% for 60 months. You can get additional .5% off if you decide to buy from one of their USAA Car Buying Service dealer to get 1.49% for 60 months.

I got my dealer to give me the $250 loyalty credit and plan to go with USAA. BM said he will still try to look to see if he can beat 1.99% so I told him knock himself out and he has til my car comes in to see what he can get. Now that the car is ordered, I might call him back to don't even bother since there are many more perks for having USAA.

 

Mini changed the requirements on Loyalty to "owned within the past 12 months". Also, i was quoted when i ordered at 1.99%, but that was incorrect. The 1.99 was only for previous models. So I went with a credit union here and got 1.95% for 3 yrs.

 

My MA mentioned MINI FS best rate right now is like 3.19% or something. USAA offered me 1.99% and Navy Federal is/was offering 1.79%.


Are you guys getting them to throw in the loyalty credit even if financing through another bank? How about the USAA credit? The fine print mentions it isn't available for the 2014 hardtop.


My dealer doesn't seem enthusiastic to play ball and I don't think I have much leverage, as they're the only MINI dealer for hundreds of miles and surrounded by ocean (Hawaii).

 

Dr. Mini, do you happen to know whether it's too late to get deals from USAA if you've already made a deal with a dealer and ordered your car? Thanks.

 

No idea. That is sort of what I was trying to find out here. I think it depends on whether you're referring to their "car buying service" or the credit that is listed on the MINI FS website.

 

I got 3 year .99% through Penfed/AAA.

 

CALL USAA and ask them. I doubt your loan is processed since you are not paying until you take delivery.
I thought the financing part is done when the car comes in. When ordering isn't it just a deposit or do I have this all wrong? I placed my order and the dealer is trying to beat USAA 1.99% I have ready to execute when the car is here. If they can match or do slightly better, I'll prob still decline as I am a loyal USAA member. FYI, the GAP insurance is really high if you finance through MINI so factor the savings if they can do better as it might not work out in the long run. I still got the $250 discount regardless of the finance company I decide to go with so negotiate.

 

I ended up with a 3 year 1.39% from USAA. It looks like the $500 off doesn't apply to 2014 Hardtops.

 

1.39% is awesome.... I'm planning to take 60 months @ 1.99% and plan to pay it off in 36-42 months since there is no penalty paying it off early. You got an awesome rate and don't you love USAA? They rock!

 

When do you start inquiring for financing? Do you guys do it while your car is en route or when it gets to the port in the US? Or is that too early to start looking?

 

I started my loan process a couple of days ago. Mine is on the water.

 

Agreed. They are an amazing bank.