What a rollercoaster; my car is at the dealership and as I work towards the best finance rate, Equifax suddenly changes my date of birth in their records!!

Well, I can understand that a MINI can make you feel born again but this is rediculous

 

Beware of this as well.
The question was do dealers have input into finance rates.

""Yes, yes, and yes!!!! In most cases, dealer indirect lending relationships work off a spread. In simple terms, the lender only wants 5.25% for the loan but the dealer contracts the deal with you at 7.25%. The 2.0% difference is then amortized over the life of the loan and some portion of that amount is paid by the lender to the dealer, making the deal even more profitable. This amount is the lenders fee to the dealer since the dealer sent them the business. The lender then has the loan for 7.25% when all they wanted was 5.25%. So, the lender had to lay out a little money to get that deal, but their net return is still better than the 5.25% they wanted in the first place. Obviously, everyone wins but you!!! This is why I recommend seeking pre-approval from your credit union prior to car shopping.""

 

Is the tax paid up front, or is it rolled into the financed amount??

 

I rolled it in.

With regards to the rate, I ascertained the national average for new car deals (6.21%). Westchester Mini is average. So am I when it comes to credit rating.

Nuff said.

 

Both. It is rolled-in, but one may certainly pay enough down to cover the taxes before it's rolled into the loan, though.

This is why leasing can be a great deal. [Though, unpopular as it is to discuss, often.] "It is the mark of an educated mind to be able to entertain a thought without accepting it." --Aristotle :smile:

But, if one really wants to get a refreshed MINI in a few months but needs a vehicle now;
or
One will want to own an '05-'06 MCS with the newer Peugeot engine;
or
One wants to own a MCS but needs to strech payments out over a longer term, it's viable to lease & then re-finance into a loan to purchase. This keeps payments low through-out. Of course one's still paying leasing fees & such, but the wonderful value of the MINI product one's getting is quite worth it.

The leasing deal gets even better when one owns a business,

_________________
MINI: Best horse for the buck!

 

Don't waste yout time and money with dealer sponsored financing. Go to http://www.capitaloneautofinance.com (Formerly Peoplefirst.com) and get the lowest rates in the nation, barnone!. Capital One even beats my credit Union's best rates by full 2 points.

Best service, best rates, excellent service.


I am not an employee but a very satisfied customer that has financed 2 MINIs (One is already paid off) with Capital One Auto Finance.

 

Picked up my Mini on Nov. 18. I used CapitolOne financing. I have to tell you it was the easiest loan I've ever gotten and they have good rates.