Soon to be (hopefully) new MINI owner here. I'm considering using the MINI Select financing plan.

I would be interested to hear from others who financed this way. Any horror stories? I searched online and Google really didn't come up with any reviews on it at all.

Thanks much!

 

There's a lot of good info on the MINI Select program as well as some alternatives in [this] thread.

 

its illegal in 14 states so verify with your MA that its legal in your state

If you can swing the balloon payment in the end i think its a OK way to finance but be mindful its not like a lease where you can turn it in at the end if you decide you dont like it. you are legally binded to pay the balloon at the end whether you decide to keep it or not. It gets you lower payments in the beginning but its alot harder to find financing at a good rate (the banks will consider it used) to pay off the balloon if you dont have the cash in the bank. it will also be considered a private party "sale" to the banks so that alienates alot of the bigger better financial institutions.

IMHO its better to grab the awesome rates now and pay more up front then getting lower payments in the beginning and finding out the rates in a few years (who knows how high they will be) where you can wipe out all the savings and have higher payments then what you have been used to.

unless of course you will have the cash to pay it off then i say go for it!

 

You'll end up paying a lot more in interest going that route.