Getting a new Horizon Blue MCS on Saturday morning. My fiance and I are trying to decide whether to use the mini financing or my banks. I already know I can use my bank to cover the full cost of the car at 5.25% for 60 months. Mini has this promotion going on supposedly till the end of the month(each month for the last few months ) where its 1.9% for 36months, 2.9% for 48 months, and 3.9% for 60 months.

Clearly on the surface, the mini 3.9% 60month deal would make better sense than what my bank is offering. That being said, I'm trying to determine if there are any reasons why I wouldn't want to go with mini financing and use my bank instead.

Any opinions or advice?

 

I can let you know tomorrow after I pick up my BRG/Blk MCCS using the Mini financing if there are any hiccups/hidden costs.

 

I'm using MINI financing on both of my MINI's one is a lease and one is a traditional loan. No problems so far....

 

Shouldn't be an issue either way unless you just really like your bank. Get something written from the MINI dealer and take it to the bank and see if they can give you an even better rate. Worked for me.

 

My MINI dealer said that 1.9% was a "buy-down" rate and they couldn't give me the rate AND the discount on the car at the same time, so I just paid cash, but if there is no discount on the line, just go with the lower rate.

 

Bottom line you can get a document saying what your monthly is for both offers

 

No reason to avoid the MINI finance. The loan works just like a loan from a regular bank. Online payments/auto payment/send in check monthly - it's all available. No early payment penalties either if you want to pay it off a year down the road.

 

I used them last Saturday when I bought mine. I took the 3.9 % for 5 years. My CU was at 5.4%. Other than the finance guy trying to sell you the super wax package, undercoating and all the other crap they push on you it was a straight up conventional loan. Just say no to the crap they push and you come out the door just fine with it.

 

Hey all, do any of you think the same 1.9, 2.9, 3.9% financing rate will end in September? I ordered my mini this summer and should be taking delivery next week, but there's a huge possibility I won't make it to the dealership until the first week of September. What do you think?

 

Mini finance was the best deal for me -- Straight forward with no hidden cost. Simple interest calculation and simple contract.

 

Worst case scenario you can do 3.99 from PenFed if the 3.9 from mini goes away (which i doubt it will)

https://www.penfed.org/productsAndRa.../autoLoans.asp

 

Check into joining a Credit Union. I Financed with ours in April of last year, 5.48% for 84mo., I just Re-Fied that Loan down to 3.75%. I always pay off my Auto Loans in 3 years, so I'm saving a TON!!

 

I had MINI Financial Services for my 2005 MCS, and could not have been happier. Very professional, courteous, and their web site actually details yr ammortization and payment schedules and allows flexible payments. I would go with them again in a heartbeat.

however, I financed the balance owed on my 2009 with a credit union, and it's been somewhat of a hassle. compared to MFS, the CU's website is soooooo 20th century, and the first time I tried to make an extra payment towards the principle, the CU teller thought it went to interest. Not good.

 

I am in the same boat, when I talked to my dealer he was confident that for the 2009s it would continue into September

 

I got the 2.9 deal from mini. what you save in interest would be worth any hassle dealing with them... but I have had no issues since I got mine in april.

 

Phew, sounds good. I have a pre-approved loan from the CU but it's at 5.25%. It would be great to still get the 3.9% deal. I'm so excited!!

 

With flame suit on, IMO CU's are overrated. Im shopping for a home mortgage right now and NO credit union has been able to meet or beat the APR or terms Im getting with a larger direct-lending bank.

So if I were U id take the MFS rate and run. Like I said, it was a pleasure to use them when I had a chance, and I wish I had them now.

 

Hi all,
Right now Mini Financial has 1.9% for 60 months for all remaining 2009 models.

 

Yeah 1.9 is an great deal. I have an email in with mini finacial to see if i can refi at that rate.

 

Don't count on it. It is only for new car purchase.

 

Can't hurt to ask. I just got my car in May.

 

I asked. No re-fi's, new car only.

 

My wife and I purchased an '09 Cooper in July. Went with Mini Financial rate of 2.9% for 48 months. My credit union and most banks in my area were in the 5 - 5.5% range. Absolutely no problems, all fees and charges were clearly spelled out before we signed on the dotted line. Automatic payments started right on time. I've had more difficulty renting a car.

 

Purchased my baby in June with the MINI FS stuff. I actually got the umm... MINI Select program. Yeah, forgot what it was called for a minute haha... but I couldn't be happier!

I wound up purchasing gap insurance and a 6-year warranty as well, everything was just fine! 1.9% financing for 36 months... balloon payment at the end... yay!

Edit: Oh, and the best part is -- payments are only around $250 a month. Very easy to keep up!

 

Hi Everyone,

I just joined the forum. There is a ton of information here and what a community!

I'm planning to get myself a 2010 Cooper S Hardtop. I'll most likely lease but I have one question. Does anyone know if the dealer will get my credit score from all 3 bureaus or anyone in particular? For some reason there is a huge difference between my credit scores from difference bureaus which would probably affect the tier i'll qualify for the lease.

Also, do the lease deals just come from MINI Financial or do dealers work with different banks?