How soon did you all fill out financing paperwork

[Tommm]

What the what! Here's how MINI's doing a dealer markup on the SE. Look at how much higher the interest rate is for the SE. Every other model is 3.69%.

I guess that's indicative of how popular and successful the SE is.

Do we really think we can stick it to the man? It cost about a nickel a mile to drive a SE. When gas was $3 a gallon it cost about a dime a mile to drive a gasoline Mini. With gas at $5 a gallon in some places it is now almost 3X the cost to fuel up a gasoline Mini. With the high price of gasoline people are looking for alternatives to the SUV and see a Mini getting 2X the gas mileage of their SUV it costs about 6X a mile more to drive their SUV. Then they see the cute little SE and the $7,500 incentive.

Then the sign the papers, not thinking about how another $20 a month (guess) in interest will affect them.

 

[jwzimm]

Do we really think we can stick it to the man? It cost about a nickel a mile to drive a SE. When gas was $3 a gallon it cost about a dime a mile to drive a gasoline Mini. With gas at $5 a gallon in some places it is now almost 3X the cost to fuel up a gasoline Mini. With the high price of gasoline people are looking for alternatives to the SUV and see a Mini getting 2X the gas mileage of their SUV it costs about 6X a mile more to drive their SUV. Then they see the cute little SE and the $7,500 incentive.

Then the sign the papers, not thinking about how another $20 a month (guess) in interest will affect them.

Or secure your own financing outside Mini Financial Services. That is what I am planning to do. My local credit union is offering 3.89% for up to 60 months on new cars. I will walk into the dealer with my own financing arranged. If they can match the rate then I will consider financing with Mini, otherwise it will be a cash transaction for them.

 

[Scrambler]

Jealous I missed that rate, but definitely happier with 3.99 instead of 5.76%.

I just looked at the fine print on the MINI USA site, and noticed this: "Qualified rate lock applicants must take delivery within 120 days of initial lock." My rate was locked on March 23, so 120 days would be July 21. My current production date is slated for June 8. My Advisor didn't mention anything about the lock expiring, and my estimated delivery window starts right about that time.

My car is "ready for transport" from the factory, so I went ahead and applied through Navy Federal since they advertise a 90-day rate lock. Got approved at 2.49%, so that'll save me about $25/mo over financing through MINI.

 

[Tommm]

creditunion1 is 1.99% for 60 months. Not sure how strict the requirements are for that rate. I got approved for 37k. Also, if i buy their gap insurance for 600 it is 1.99 for 66 months, which works out to 2.48% for 37K at 66 months.

I emailed my salesman yesterday, and will start the payment process next week. For almost 200 basis points I will get the CO 2500 when i file my taxes next year.