First time to post, been trolling for about 6 months. I am soon to order my MCS, but have a financing question.

When you order your Cooper did you go in pre-approved for your loan amount? I am looking into Pentagon CU, and wandering when is the best time to be approved (Before ordering, at delivery?) and how long does the approval last?

Thanks for the help.
-Jason

 

Go to Pentagon web site, sign up, deposit some money with your bank card. Call them if you have questions. They send you a check for the amount you requested to get a loan for. It's good for a month I think. Bring the check with you when you pick up your car, and maybe the dealership can match or do better on the interest rate.

Good luck!

 

For both of our MINIs, I got a pre-approved check from my credit union before ordering the car. It worked out fine for my wife's car, but my car was delayed for a month, so the check actually expired before the car arrived (for my credit union, the checks are good for 60 days). No big deal - it just meant I had to go back to the credit union and pick up a new check. I didn't have to re-apply for the loan.

For me, it wouldn't have really mattered when I got the check from the credit union, because the interest rate isn't locked in until the day the dealership actually presents the check for payment. My interest rate actually went up by one or two tenths of a percent between when I picked up the check from the credit union and when the dealer actually presented it for payment.

 

Thanks for the help, looking forward to becoming part of the community.

 

I've never needed to get pre-approved when placing an order. Only later in the process was payment addressed. The timing, like Scott mentioned, can be a bit of a hassle since it takes a while between ordering and delivery. I've always gotten my loans about a week after the car was done built and I have the VIN number to give my bank/credit union. The fact that you'll have the loan check a few weeks before getting the car delivered should be enough to convince the dealer you're serious in buying! I suppose a quick chat with your Motoring Advisor should clear up any questions regarding how that dealership prefers to do business.

Welcome to NAM! What kind of MINI are you going to order [model, colors, options!?]

Cheers,
Ryan

 

Ryephile, looking to order:

MCS cr/b or ps/b???-opinions anyone?
DSC
manual
rear fog
black bonnet stripes
carbon cloth
HIFI
Limited Slip?- Don't know if I need it, I won't be tracking it? Thoughts?
Convenience Package

too many options, makes it hard to decide. Trying to stay under 25k is also a challenge.

Any advice, gladly accepted.
-Jason

 

I definitely recommend the Xenon headlights over the halogens; much tighter lighting pattern and the brilliance and forward visibility improvement rocks!

I also recommend driving an MCS with and without the LSD. The factory LSD does improve traction but also adds some minor torque steer, whereas the open differential has better steering feel but will not be as quite as quick around corners.

Trying to stay under $25k is a challenge, but certainly possible without getting extravagant.

Cheers,
Ryan

 

Yo,

After running the MINI configurator about 1000 times, I ended up with this config @ $24.450 --

Pepper White/Black . Manual . Cold Weather . Limited Slip . Rear Fogs . 16" winter shoes . USB/iPod . Anthracite . Cloth . MFSW

Later...