Hi gang. Time to make the leap and get a Mini!! I'll be getting one in the Chicago area, probably Bill Jacobs. I was wondering on the interest rate that Mini is offering on these cars. Also, should I even bother trying to trade my car ( Chevy Lumuna )
in on the mini? Do the dealers give a fair price?

Thanks. Jim

 

Impossible questions to answer. Interest rate depends on
credit score and you'll always do better on an outright sale
than trade, just depends on what your time is worth. Good Luck!

 

Welcome to MCO. I doubt if MINI is offering any subsidized interest rates as most manufacturers only offer them when they are having problems selling their products. As for your trade, without knowing the year and condition of the vehicle, its hard to make the call. It also depends on the dealer; are they primarily a new car dealer, or are they into the used car business in a big way as well? A lot of dealers are limited to the size of their used car operation by the physical size of their dealership.

_________________
2003 Chili Red/White top and wheels MCS, black leather, anthracite dash, packages 2 & 3, DVD based Navigation w/OBC, PDC, HK, MFSW, rain sense wipers w/auto dim mirror. Ordered January 27, actual production date March 11, delivery date April 12 of 2003.

 

Quote form my dealer.."if you want to trade in your car I'd siggest driving over to carmax.. we'll screw you one the price, they give much deals on trade ins, then coem back here and buy your mini." in other words don't trade yoru car into teh dealer....

interst rate is based onyoru credit.. goto free credit report.com.. if you have a credit rating of 725 adn above you can expect a rate soemwhere around 4% I I haven't heard of much chepaer than that for a mini... good luck

 

1) Interest rates are tied up to your credit score. If you have excellent and pristine credit (Beacon score above 750+) you can get the best rates. If your credit is less than perfect, most banks will still finance you at higher interest rates and perhaps requiring more money down up front.

2) Check out http://www.peoplefirst.com/ Their lowest finance rate right now is 3.79% APR from 12 to 36 months finance. I think it goes a bit up to 4.2% from 37 to 60 months and so on. I highly recommend them. They are THE BEST CAR LOAN EXPERIENCE EVER, BARNONE!. Our selling MINI dealer (Lauderdale MINI) had no problem accepting our blank check from Peoplefirst.com. Transaction went smooth as silk and we never had to obtain financing thru BMW financial services or any other banks (None of them could beat the 4.75% for a 36 month loan that Peoplefirst gave us on our first MINI back in September 2002). It takes 5 minutes to fill the online application, another 10 to 15 minutes to get it approved and presto! You'll get a blank check in the mail in 1 to 3 business days.


3) I am currently seeling my extremely reliable 2001 Chevy Impala LS (With the 3.8L V6 engine). My advice....SELL IT YOURSELF!. BMW/MINI dealerships are not interested in buying large family American sedans as these are difficullt to sell in their used car lots. What year is your Chevy Lumina? I am asking for my '01 Impala LS about $15K or better offer. The car only has 21K miles, still under factory warranty and it is in showroom condition (No smokers, no children, no pets). The Impala has to go to make room for my upcoming 2004 Cooper S!


Good luck and if you have any other questions, feel free to send me a private message.

 

Hi Jim,

Interest rates vary depending on your credit. We are seeing as low as 4.9% right now with excellent credit.
As far as your trade is concerned... I always tell my customers that you will always recieve more for your car if you sell it on your own. If you don't have the time to do that, I also recommend going to Carmax. They will appraise and purchase your car from you.
Please let us know know if we can answer any other questions for you.

Christina







>>Hi gang. Time to make the leap and get a Mini!! I'll be getting one in the Chicago area, probably Bill Jacobs. I was wondering on the interest rate that Mini is offering on these cars. Also, should I even bother trying to trade my car ( Chevy Lumuna )
>>in on the mini? Do the dealers give a fair price?
>>
>> Thanks. Jim