Hi all,

I am thinking of ordering a MINI and wanted to know about the process... deposits, payments, etc. Do you start paying on it only after it's delivered? What is the deposit? I just wanted a little more information before I head on down to the dealership. Anything would be appreciated, thanks!

 

Deposits vary by dealership, most require some money ($500 - $1000), some don't. If you finance through a bank or credit union, payment usually starts the month after they give you the money (check). I don't know if that holds if you finance through MINI, but I'd think so.

 

Yep...will vary greatly by dealership. Some require deposits, but some (okay, one that I know of for sure), will refund your deposit in full for any reason you change your mind...even if it is because you don't want it anymore.
The dealership I bought at required a $500 deposit, non-refundable, but in their case, i was also told that if something significant happened, i.e., a job loss, they would refund the deposit as well.

 

I could be wrong, but I think the non-refundable part only applies if you don't ask for a refund.

Ask and you'll get a refund.

 

Just went through the process. Go to miniusa.com and make your car with options you need. Print out on your printer. Bring or fax to you favorite dealer.

Walked in and handed the printed sheet to the salesperson. Salesperson entered info into computer. Another printout was created to sign. Handed a $1,000 deposit. Then the wait begins. Nothing financial is signed with the exception for the deposit. I recieved my production number the day we walked out but some have to wait a few weeks. Delivery depends on dealer. Anywhere from 3-6 months till you drive home.

Once the car arrives, you bring your trade in or down payment and sign the official papers. The rates quoted through mini are good for 30 days. You can also use a bank or credit union too. Payments begin (30 days after) in or around the day you walk out the day.

Things to consider. Find a dealer that sells at MSRP. Going below is nearly impossible in most places. Remember the extra costs. MSRP quoted on miniusa.com does not include:

If you buy:

Taxes ($500 or more depending on your state)
Registration ($50 - $500)
Dealer installs (can add almost $1000 more. Try to get some for free)
Any other fees your state requires

If you lease:

Lease deposit ($550)
Last months lease payment (???)
Dealer installs (up to $1000 more)
Aquisition fees (up to $700 more)
Gap insurance (if not icluded with your car insurance. From mini $300)

 

I paid a $2000 deposit! :impatient Oh well...it's going toward the car, plus it's on a 0% interest credit card.

 

Where is you is? Depending on where you are we maybe able to suggest a dealer that has a small or no deposit. I know that Niello does not have a deposit but the have a $2500 markup on an S or a $900 protection package on non Ss

 

Thanks domc that's exactly what I wanted to know. So the deposit will go towards the car then? I am in Ohio, near Cleveland, the only dealer is Classic Mini in Mentor. Has anyone delt with them before?

When should I apply for financing? When the car comes in? Sorry I am new to car buying and I really don't have anyone to help me so I need all the help I can get! Thanks!

 

Classic isn't the only dealer in Ohio. Midwestern MINI is in Columbus. I bought from Midwestern & had a good experience. Since you're in Cleveland I'd buy from Classic.

As far as financing goes I'd want to have all my ducks in a row before I went to the dealer. As far as a deposit goes $500 is fair. If they ask for more I'd walk to the next dealer. Good luck with your new MINI.

 

I was under the assumption that ANY deposit would go to the car once you actually do get it. $500 down just says you want it, and if you cancel the order, they'd keep it. So I better get my car after putting a $2K deposit!

I would say for financing go to your local bank and talk about getting your loan locked in NOW. I told them that I wanted to loan MORE than what I actually probably will be taking out. You can take more OFF the loan rather than put more on once you're locked in. Also, the APR is locked so that won't change between now and when the car arrives in July. Once the car comes in they will put the money in my account and I'll just go pick up my car with a cashier's check.

The sooner you can get set up financially the better.

 

I put $500.00 down on the day I ordered it then $10,000 on the day I picked her up. The other $22,000+ are automatic payments to Chase Bank. I don't feel the pain of writing a check every month. :-)