Has anyone here used the Mini Select option to finance their Mini? The sales manager at the dealership I'm dealing with did not even know what I was speaking about when I went in with my paperwork to place my order, I had to explain what it was So if you have used this option, please let me know what thew real deal is, as it pertains to.

1. Sales tax. Is it part of your monthly payment as in a lease or do you have the option of paying it all up front?

2. Interest rates being offered?

3. Balloon payment due at and of term? Ballpark figure is fine.

Thanks,
X2Board

Happy motoring!

 

Howdy
Sales tax is all up front. interest rate is high. Balloon is about half of purchase price. but payments are damned reasonable. appears to be almost identicle to a lease program except for the taxes up front.

 

Rataha,
Thanks for the reply, I think I may forget about that, my credit union is offering 5.9% on terms up to 72months, so I may be better off buying it instead.

X2Board
Happy Motoring

 

I went with Mini financing after sales guy beat the rate my bank gave me. I wound up with 5.25%, not bad. I paid sales tax up front, I suppose you could roll it into the loan.

 

Cool, I too plan on paying all my taxes, and licensing fees up front, financing taxes is like paying tax on taxes.