I am picking up my Cooper S tomorrow. I noticed that Mini now has some special financing on a one payment lease. I know you need Gap Insurance for this. When I asked the dealer he discouraged the idea which probably means they don't make as much money.

Anyone know what the deal is? I need to know fast...my car is in.

Ava

 

I'm picking up my MCS next week. I was told there is some deal where if you finance for at least 3 payments it will extend your warranty to 100,000 miles. I didn't hear anything about a 1 payment lease, what it the benefit to the buyer?
I was going to just write a check(we only buy new cars every 5-6 years so we save up and pay cash), but I think I will do this deal to extend my warranty.
Annette

 

Gap insurance is included in all MINI leases (regular or one-pay) and if you do a one pay, they keep all of the payments as a negative (credit) balance on your account and apply one each month rather than applying all of them up front and showing a $0 balance-- this way, you don't have any risk of "losing" them. Let's say your car gets totaled 10 months into a 36 month one-pay lease, they would refund your credit balance of 26 "payments".

 

Just found out Gap Insurance doesn't cover one-payment lease. You're not insured for the depreciated 38% of the MCS.













j

 

The 0.9% purchase sounds like the BEST deal if you qualify ... Read the fine print boys and girls....

http://www.miniusa.com/#/learn/SpecialOffers-m

 

i dont understand.....What is the difference between a One payment lease and a traditional lease...reading the fine print it seams like it is exactly what i have with my lease? except it seems like i have better terms when I brought home my Mini back in December....

 

You have been given incorrect info.

Your money is no more at risk on a one-pay lease than a regular lease. Whatever salesperson or finance manager that told you that doesn't know what he/she is talking about.

 

You pay all the lease payments upfront in exchange for a 0.0008 reduction in the money factor on the lease. It basically gives you a lower effective monthly payment and you pay less in interest.

 

Got it, makes sense. Then i dont have a one payment i have traditional.

 

Sounds like a fantastic financing offer, but be sure to check the fine print for any "early payoff penalty".