I have a great deal on a new MCS, but I'm going to wait until they bring back the low rate.
Does anyone remember if they offered the 4.9 for 72 months, or was it for 60 months?

 

Pentagon Federal (penfed.org) currently offers 4.25% for 72 months. I'm planning to finance through them if my dealer can't beat it.

 

yeh just go here www.penfed.org you have to donate 20,00 to the men and womens families that are serving in iraq and iran and deposit at least 5.00 in a savings account and you are in for the loan remember it takes two weeks till it is all finalized so do it now and get it out of the way. also cars will go up for 2009 or sooner due to oil prices.

 

don't hold your breath for another really low rate from MINI. They don't come around very often at all. I think the lowest you can get right now is just below 6% if you have great credit.

 

I went the PenFed route last Monday and got the 4.25% rate. I opened a savings account with $25 and paid the $20 to the family thing and got approval right away. Took about 1/2 hour to complete the whole process online. I just got my check in the mail on Thursday. My SS/SS MCa should be at my dealer in a few weeks so I'll be good to go when I get to the dealer and don't have to waste a lot of time with the dealer financing. All I have to do is hand them my down payment and loan check, sign the papers and I'm done. PenFed also offers a program similar to the Mini Select that offers lower payments for a term that you choose 24-60 months then a balloon payment at the end for folks that are on a budget. The interest rate for that program is 4.5%.

 

Lots of banks and credit unions have low auto loan rates now. Just shop around. If your credit is good, 5% should be availabe. Check www.bankrate.com to get started.

 

Here in Rhode Island I just purchased my 07 Mini almost 2 months ago. My rate is 4.00% I went through AAA and they found me the lowest rate possible in my area. My credit score is also in the 800's but if you have AAA give them a call or just fill out the app on line like i did.

 

I was just approved through the Mini Dealer for 4.19%, otherwise I would have gone for Penfed's 4.25%.



Phineas Gauge, '08 MCS PS/B, Convenience, Premium, Anthracite Headliner, Piano Black Int., 17" Crown Spoke wheels.

 

Wow. I had no idea such rates were available out there for non-special manufacturer APRs.

Good to know guys!

 

which bank was it through?

 

I don't know which bank, I haven't signed the paperwork yet. My MINI has been sitting at the dock for 2 weeks?

Another guy on the board just said that his rate went down to 3.95% while he was waiting for his MINI to show up.

 

It definitely pays to shop around. After getting approved for 4.99 at penfed I checked with my local credit union and they offered 3.99.

And mini was only going to give me somewhere around 6.

 

I wouldn't hold your breath for more subsidized MINI rates.... That 4.9% around January/February was the first time ever that MINI had any kind of "special". As everyone else here has mentioned, shop around for rates... and don't forget to see if your dealer can meet/beat the rate -- you'd be surprised what kind of rates some of them can get.

 

I went through AAA. They have 4.5% on a variety of term lengths. Good Luck!

 

I bet it wasn't BMW bank of NA.

 

Wow that is a low rate.

I got 8.9% for 48 months 2 weeks ago through the MINI Financial Services and that was with a high FICO/Beacon score.

I do have a question and that is can I refinance with a Credit Union for 4.9% like the link posted above or can I take that rate back to the Business Manager at the dealership and see if they will match it? I do realize it might be a tad late since I already signed the finance papers already.

I have been fortunate to get 0% financing on several of my previously owned cars and didn't have to worry about the finance rate but any savings now would be worthwhile over the duration of my car loan.

Thanks.

 

For everyone using panfed, is the check they send you have both your name and the dealer name on it? The check they send to me have both my name and the dealer name on it but if it should only have the dealer name on it, I might need to have them change it for me.

 

was that Vista or Braman?? they pocket about 3% of that deal..

 

...

You only had to post the question once.

 

Thanks

 

Vista BMW/MINI in Coconut Creek,Florida.I had a feeling that the rate was a bit on the high side but I think too much time has past now to do anything about it and it has already been processed.

 

Usually you can transfer the balance to another bank.

Just get a 4.5% rate for the balance you owe, pay off the high-rate interest and you've essentially refinanced at the lower rate.

Its worth asking....