Does anyone know the current rate for Mini financing? I can't get ahold of my MA and it isn't too clear how to get the rate on the site. My MY/W MCS should be delivered sometime before the end of the month.

 

5.12 at Mini of Peabody. 5.00 at Metro Credit Union...both for 5 years. Some got lower depends on credit score.

 

PenFed.org (Pentagon Federal CU) has 4.25% for your choice of 12 to 72 months on their internet rate. Its .50% higher if you do it by phone or at one of their branches. First internet loan for me and all went smoothly.

 

I did mine over the phone and got 4.25% back in May

Never heard of the +.50%.

 

I just applied PenFed 5.25% 5 year autoloan and got approved instantly. After paying $20 to NMFA and $5 to some initial account balance, I set up my PIN with customer service rep. (she asked me lots of questions to verify my identity, address, license number, credit card issuing bank names, etc.). After setting up my PIN, I created online account then applied autoloan.
After typing all required information, screen displayed me monthly payment (in my case, about $1 more monthly) and interest rate. It also ask you whether you want to apply protection program by paying more monthly. I declined every options. Since I couldn't see some kind of approval confirmation message, I called customer service to ask why I didn't see any final confirmation page. She asked for my SSN, then she told me that my application was approved. Then, she asked for VIN, which I can obtained from MINI production tracking site, and asked several questions like Navigation system, automatic, leather seat, which I have configured my MINI with all of these. Then she asked me if I want to pick up check in a local branch. I asked her to mail to my address on file. She told me that check would be mailed out on Monday and I sould be receiving by Wed, or Thur.
I only applied only $27,000 for $36000 MINI. It went so smoothly. Everyone who want to purchase MINI should definately look into PenFed. I spoke about 4 women, and not every women were kind. I think two of them were very very kind. Others were just very impersonal, just FYI. Good luck everyone.

 

If you do it over the phone it is 4.65$. I wanted to do it over the phone b/c I don't know what the pricing is going to come to so I needed a preapproval check. So now I have a blank check here at 4.65% but I called and had a manager sign off that 4.25% is ok. I'm just waiting for that in writing before using this check.

So READ THE PAPERWORK when the check arrives!

 

I think you mean 4.25%, right?

 

yeah he must mean 4.25%

 

I'm also preapproved through PenFed for 4.25. They are waiting for my VIN (Just like me) before sending me the check.

This is my third loan through them, the only advice I need to share is this:

PLEASE MAKE SURE YOUR INSURANCE COMPANY SENDS THEM PROOF OF INSURANCE.

It is YOUR responsibility and if not received within 30 days, they will charge you $1,500 to cover liability insurance to cover the car, but it won't even cover state minimums so don't use it... Pentagon does thousands of loans a day nationwide and they don't play. Please stay on top of this after you drive your car off the lot....

 

Well, for a high volume loan bank, I have to say that PenFed has the most pleasant, friendly and considerate staff. Compared to my everyday bank, they are an absolute joy to deal with!

 

Yeah I'm about to do a PenFed loan myself!! Thanks so much for all of this information!! Great rate indeed!!