Did anyone go through Mini for their Financing? My dealer said that they deal with all sorts of lenders and he could most likely get me the best rate. I was thinking a credit union. Just dont want to many inquiries on my credit. My car is at the distribution center here in the U.S. and my motoring advisor said it should only be a couple more days..... sweet!

 

Go with http://www.peoplefirst.com instead. Best auto loan experience bar none. Their lowest rate right now is 3.75% APR on a 12 to 36 month loan. You'll get approved in 15 minutes online and you'll get a Blank Check package in the mail 2 days after your approval. Our MINI dealer (Lauderdale MINI) accepted uour Peoplefirst blank check with no problems at all. MINI Finance could not even touch the great finance rate we got with Peoplefirst when we picked up our '02 Cooper CVT last year. I paid off the Cooper CVT in full last month and I already got my Certificate of Tittle from peoplefirst. Excellent service and ZERO hassles.

I will use them again as soon as my new '04 Cooper S arrives in early October.

If your dealer refuses to accept your Peoplefirst blank check, don't do any business with them, period. Some dealers don't accept these checks because they want to force their customers to use their in house financing (More $$$ for them). Since the Peoplefirst check is a REAL personal check, they can cash it right away unlike a "Bank Draft" that most dealers are reluctant to accept because it takes several business days to clear thru the bank.

Do it, you won't regret it.

And Welcome!

 

>>Go with http://www.peoplefirst.com instead. Best auto loan experience bar none.

I have to agree! I used them for my current auto loan and it was a smooth easy process. Easier than dealing with a conventional bank or credit union as you don't have to make the time to get to a bank during the 2 hours they're open during the day (slight exaggeration).

Approval is done online and everything is mailed right to your house.

Unless I get a better rate somewhere, which I doubt, I'll be using them when I buy my new car.

 

This is actually Capital One Finance now, as peoplefirst was owned by Capital One and has now decided to fall under their umbrella. I believe it is now called Capital One Auto, someone correct me if i'm wrong.

Cabbage

 

Thanks again for making this a great site! I just put in an application a few minutes ago, as my MINI should be ready this week or next. Hopefully I won't get a hassle at the dealer about the online financing.

Yes, Cabbagetoe, Peoplefirst is now officially under the Capitol One name, which should give them some additional credibility.

Amazing rates! I was going to go with my credit union, but Capitol One beat them by a full point and a quarter!

 

Thanks Jerseygirl and Cooper4us. I just went to the site and decided that it was an easy way to go! Just waiting to see what they have chosen for me as my APR.

THanks Again!!!

 

Okay.... bad news... got approved and it was good!! Until I found out that where I ordered my car is not on their list of franchised dealers.. So here I go again.

 

Thats news to me. I didn't know you could only use the check at certain "approved" dealers. I got approved months ago, and didn't use the check since my MC was still on Order. I let it expire, then I submitted another application and got approved at the current lower rate which was like 3.35% or something ridiculous. It was 3.75% before that.

You might want to double check that.

 

yeah, I actually picked up the phone and called. Spoke to a customer service agent who said I can only deal with those on their "preferred list" which is stupid since they are losing a ton of customers. I just put a call into my M.A. to see what he can do to match the rate... I would like to have this taken care of now that way all I need to do is sign a couple of papers when I take delivery hopefully this week sometime.

 

>>Okay.... bad news... got approved and it was good!! Until I found out that where I ordered my car is not on their list of franchised dealers.. So here I go again.


What????

That's news to me to. Ask to talk to another representative. Your Peoplefirst.com blank check can be used at any dealer and it even can be used on person to person type transactions.

I never heard of a dealer having to belong to a "preferred" network in order to accept your check. Something its got to be wrong there.

 

Your blank check is good only for 45 (Rate is also locked in as well) days from date of issue, so make sure to coordinate the time in between you get your financing approved and the arrival of your new MINI at the dealership. After the 45 days you need to re-apply and take whatever prevailing rate they will have at the time

 

I am not a big fan of Capital One Finance. When did they buy them out.

I went with the house (BMW Finace). I talk them down to 5% even for 60 months. In the big picture it probably will cost me about 250 more in interest. And I get BMW Finance on my credit report (which could look good).
+

 

>>Okay.... bad news... got approved and it was good!! Until I found out that where I ordered my car is not on their list of franchised dealers.. So here I go again.

That makes very little sense to me.....I used PF or CO a few months ago to refinance my note with BMW. No dealers, etc. They send you a blank check! You make it out to the dealership. The check is authentic, I wrote mine for $22k, no problem being accepted at BMW Financial Services. Try talking with someonen else.

Jim

 

>>I am not a big fan of Capital One Finance. When did they buy them out.
>>
>>I went with the house (BMW Finace). I talk them down to 5% even for 60 months. In the big picture it probably will cost me about 250 more in interest. And I get BMW Finance on my credit report (which could look good).
>>+


Credit is credit, no matter your source. BMW finance and Peoplefirst.com are both lending institutions.

Peoplefirst.com has always been owned by Capital ONE Finance. Great company, have never had any problems with them.

 

By the way, when I sold my '01 Chevy Impala LS last month, the buyer paid me with a blank check from Peoplefirst.com. Absolutely no problems and a very smooth person to person transaction.

 

Calling again...... Grrrrr

 

>>Calling again...... Grrrrr


Talk to your dealer and tell them that you already have been pre-approved for financing with Peoplefirst.com. Also ask them if they have had other customers paying with thier blank checks. If they say yes, you should be OK.

 

>>Okay.... bad news... got approved and it was good!! Until I found out that where I ordered my car is not on their list of franchised dealers.. So here I go again.


It does not matter whether or not they are on a list. If your dealer refuses to take the check call Peoplefirst. They will call the dealer and see if they can talk them into taking it. If they still refuse, Peoplefirst will Fedex you a certified check which the dealer has to take.

The dealers that do not want to take the check are hoping that you will use them instead. Peoplefirst has made sure that can't happen or else no dealers would take their check.

 

I had the same qualms, as a lot of dealers try to convince you that they don't take online bank checks.

I asked the rep at PeopleFirst/Capitol One, and they explained that they provide you with a blank, guaranteed check that no dealer should refuse. If the dealer is extremely stubborn about it, they will send out a certified check (which could take 5 days according to the rep, but the dealer has to accept).

 

I applied for a PF loan and was approved (real bad credit too) I had the dealer find out what kind of rate they could offer as well. He came back with the same offer I received at PF. I told him that I would be going with PF and he said that he would go 1% below them if I went with the dealer.

Needless to say I am going with the dealer.

 

>>I applied for a PF loan and was approved (real bad credit too) I had the dealer find out what kind of rate they could offer as well. He came back with the same offer I received at PF. I told him that I would be going with PF and he said that he would go 1% below them if I went with the dealer.
>>
>>Needless to say I am going with the dealer.

The PF check gives you great haggling power and the good thing is that you are under no obligation to cash it in until you sign it over to the dealer.

 

We also used CapitalOne/PeopleFirst. They fedexed the check and we got a rate a point lower than BMW offered. No hassle at the dealer.
Good luck.
Jennifer

 

I got my financing throught MINI Financial at the Long Beach dealer. It was super easy and the payments fit my budget. The rate is 5.95%, which I was told is their lowest rate offering. I didn't want to go through the hassle of applying for other loans when this was so simple. Additionally, I can manage my account online through the MINI Owner's Lounge, get e-mail statements (instead of paper mailed ones) plus they have EasyPay which automatically deducts my payment from by checking account each month on the due date. So, as long as I make sure the money is in the account, I never even have to worry about sending payments or the possibility of late fees. I guess I could achieve the same results with online banking, but since they already have the programs in place, why not take advantage of it. I think it is great! :smile:

 

>>I got my financing throught MINI Financial at the Long Beach dealer. It was super easy and the payments fit my budget. The rate is 5.95%

>>I guess I could achieve the same results with online banking, but since they already have the programs in place, why not take advantage of it. I think it is great! :smile:

I think the answer to that question is because PeopleFirst/CapitolOne is offering rates as low as 3.75%.

 

Auto LEASING

Any recommendations for Auto Leasing?

Everyone is talking about finance.

Thank you,