I've been lurking on this site for a while, wow what a wealth of info!! I was wondering if anyone knows whether or not a discount of 10-20% of MSRP is possible if purchasing the car outright in cash? Ive heard stories (never confirmed) that you can purchase a new vehicle at huge discounts if you pay cash.
Thanks in advance if anyone has knowledge. This is a great site! Plan on purchasing Red Convertible around the 1st of May will post pics when I do.

 

The dealer does not make any extra money if you pay cash: they want you to finance the car because it generates extra revenue for them. Salesmen often get a cut of this extra revenue if they reach a certain sales number for the month, but usually they don't care how you pay for it as long as they get the sale. If you do plan on financing, take advantage of the 0.9% MINI is offering on 2011 models. It is a great rate.

 

If you are referring to a new R56, the rumors you had heard are most likely false.... Those days are long long gone... As a former assistant manager at a BMW dealer (Mini pricing is almost identical) I can assure you of a few things:

A) For a new car dealership, offering "Cash" does not entice them to give you a better deal... For a few reasons. 1) If you are indeed talking paper money, paper money in that amount is a pain in the a$$ as it needs to be counted, and assumes a certain amount of risk due to counterfeit, the risk of transport, and there will need to be a irs form 8300 filled out (which is just more work on their part).. 2) If you mean paying by Check they still are assuming a bit of risk by taking a check on the spot. 3) When you finance through the dealer ship they actually make some additional profit from the loan. So when you are paying cash. For these reasons it is 1000X more convenient and more profitable for them to simply have you sign a few documents and finance through them in which case they have the money guaranteed and in their account in a day.

B) Assuming they were willing to offer you the same price cash of finance (which I can again most likely assure you that they 100% would) they markup (excluding any cash incentives) is right under 6%. Given the popularity, Supply and Demand for Mini's right now I highly doubt that many dealers wold be willing to sell you one at invoice let alone thousands below...Again this is assuming you are looking at car with out any dealer incentives.

C) The way to get your best deal and a fair deal at that, is to do some research, educate yourself on pricing (which you are doing by posting this), and then be willing to pay a fair price (which is somewhere between the invoice and msrp)... If you walk into a Mini dealer and offer them 10-20% off of MSRP you will most likely insult them and end up putting yourself in the lesser position to negotiate (the little bit of room that is there), and also look a bit foolish in the process...

I am not trying to be hard on you, but with all of the information out there today combined with the fact that there is less mark up then there used to be (BMW) it is virtually impossible for a dealership to rip you off on a purchase price of a new car.... The simple fact that you are interested in Mini means that you should be able to appreciate that they are worth what the Manufacturer Suggests the Retail Price should be and if that were the worst case scenario you would be getting a fair deal.. Plus their mark up only equals approx $1300-$1800 depending on the model and options).... I am by no means suggesting that you pay MSRP, and by all means suggest that you negotiate to your best deal, just be sure to do so in an educated manner...

In my experience the customers that got the best deals (and as importantly the best service after the sale) were the ones that were the most educated, friendly, and just a bit reasonable... Remember a salesperson is there to make living and they do want to sell you a car, however they usually will do a lot more for a customer that they like...

Again just some friendly advice... Good luck with your purchase..

 

Go in and get the MINI you want a price that you both agree is fair. Take the MINI .9% financing. Put a decent amount down, and pay extra on the payments. Keep your credit rating good and pay for the car quickly.

 

Thanks everyone. I didnt think that those huge discount stories were true. The .9% financing is great but I think I'm going to just buy it. Looking forward to becoming a part of the Mini community. I'm like a liitle kid waiting on Christmas.

BTW I've noticed some Minis with badges on the front, does anyone know where I can find some or possibly have one custom made? Would love to find a Woody Woodpecker Badge.

 

Yep! http://www.gobadges.com/

Good luck and post pics when you bring the new baby home.

 

Woodyups, The grill badges are magnetic so you will also need the holder. Several sponsor vendors sell them for the front grill and several license plate versions.

Also http://motoringbadges.com/

 

Ordered last week, $700 over invoice (hardtop S). Send out an inquiry to dealers within a 100 miles of you and ask who is discounting.

 

I paid cash in feb. I paid $500 over dealer invoice and I also got the free option for another $1575 off. I saved $3243 off of sticker. after tax title and license I was still under sticker price. Now I did drive 226 miles to get this deal. I live in central texas and the closest mini dealer is 80 miles away, so i didnt mind the extra drive to get a great deal!

 

I don'y know about you, but I wished I had driven so far to buy my MINI... all I wanted to do upon delivery was drive. I was sad that I only had a 10 mile drive home

 

i don't think it matters for these type of premium car dealers. i finance thru mini with 0.9% that no one can beat and still got my deal under invoice.

 

I'm getting closer to a decision, I have given myself until the end of the month to either s;#@! or get off the pot. I have NEVER done as much research on a car in all my life! is OCD a symptom of a mid-life crisis?! I'm 100% sure I will buy a mini. I'm 100% sure I want new over used. I'm 100% sure that I don't need to order one and that I will find one I like on the lot. I'm 100% sure on the options I can live with and without. Its down to the big 3 questions that are kicking my ****! Color, Manual or Auto, Hard Top or Convertible! By the time I wrap my arms around all this I think I will be in a Straight Jacket! I did "man up" and buy my first Mini Badge to help me focus! LOL Thanks Lady Godiva and Moe-Jiller for the links. This forum is awesome.

 

You betcha!

 

BRG2/W, Manual, Hardtop w/ sunroofs....man those questions were easy

 

LOL I wish it were that EZ!! I have narrowed it down to 2 colors though either BRG2 or CR. I'm most confused on the transmission, so MANY Horror stories on the manual transmission gotta figure that one out first.