will i get accepted for finance? - MINI Cooper Forum
Go Back   MINI Cooper Forum > All Models & Variants > Finance & Insurance


Finance & Insurance Use this forum to discuss financing and insuring your MINI

Mini2.com is the premier Mini Cooper Forum on the internet. Registered Users do not see the above ads.
Reply
 
LinkBack Thread Tools Rate Thread
  #1 (permalink)  
Old Mar 24th, 2014, 10:49 PM
MINI2 Newbie
Offline
 
Join Date: Mar 2014
Posts: 25
Local Time: 07:59 AM
United Kingdom
will i get accepted for finance?

Hi guys,
after some deliberation i have decided to purchase a mini in sept 2014, hopefully a new one. i am going to place a 2000 deposit down, then finance the rest. I am hoping to buy either a mini one, or a mini cooper.
I have been checking out my credit score, and currently my score is fair on experian. i earn a relatively small amount a year (15,000) but i have done my sums and know i can afford the repayments min have quoted me (250 a month on PCP)
My question is, do you think i will get accepted for finance? Has anyone else been in a similar situation and been accepted or declined? i have never missed any repayments, and i have just taken out a credit builder card, which i am going to pay in full each month. Do you think this will be enough? I would really like to buy in sept as my current cars (ford ka) MOT runs out then, and my garage don't think it will make it through another mot.
Any advice is most appreciated :-)
Reply With Quote
Sponsored Links
Advertisement
 
  #2 (permalink)  
Old Mar 25th, 2014, 07:49 AM
MINI2 Premium Member
MINI2 Master
Offline
 
Join Date: Mar 2012
Posts: 2,987
Local Time: 07:59 AM
United Kingdom Male
If youre going to buy a new MINI and its from a MINI BMW dealership they will check your credit there and you will get an answer usually the next day, why not pop into a dealer and tell them what you wanted to do in September and see if they will advise you its all ok or if they think theyre might be a problem?
I sure they would be only to glad to help do what they can to sell you a new one, you might even get a free cup of coffee.
A lot can change though between now and September you know?
Reply With Quote
  #3 (permalink)  
Old Mar 25th, 2014, 10:28 AM
MINI2 Regular
Offline
 
Join Date: Feb 2014
Location: Derbyshire
Posts: 76
Local Time: 07:59 AM
United Kingdom
On 15k p/a why buy brand new?
Reply With Quote
  #4 (permalink)  
Old Mar 25th, 2014, 12:27 PM
MINI2 Senior
Offline
 
Join Date: Apr 2012
Location: Suffolk - UK
Posts: 448
Local Time: 07:59 AM
United Kingdom Male
Also try your own bank for a loan, if MINI are not doing any deals then you may find that the bank will give you a better rate.
Reply With Quote
  #5 (permalink)  
Old Mar 25th, 2014, 03:50 PM
MINI2 Newbie
Offline
 
Join Date: Mar 2014
Posts: 25
Local Time: 07:59 AM
United Kingdom
Quote: Originally Posted by Big_Nige (original)
On 15k p/a why buy brand new?

because i have saved up the deposit, and i know i can afford the repayments on the car i would like, i have already received a fianance quote on the car i would like.
Reply With Quote
  #6 (permalink)  
Old Mar 25th, 2014, 05:18 PM
SGT Slaughter & Farm Girl
Offline
 
Join Date: Feb 2014
Location: USA, New Jersey
Posts: 193
Local Time: 02:59 AM
United States Male
Post Give Credit Where Credit Is Due....

Totally check with MINI BMW about the credit, we got a great rate of 0.9 or 0.6 on the new Countryman (one of the two percents The wife...AKA, Farm Girl knows the exact numbers) I just drive the dang thing!

They do have great deals @ MINI BMW
Reply With Quote
  #7 (permalink)  
Old Apr 5th, 2014, 10:21 PM
christian6984's Avatar
MINI2 Regular
Offline
 
Join Date: Jun 2009
Location: Lancashire
Posts: 81
Local Time: 07:59 AM
United Kingdom Male
On PCP you can pay the smallish deposit and if the car is worth worth more than the GFMV that amount over can be used to get into another new car and keep monthlys similar, the risk is if its worth less than GFMV you can hand it back and let the finance company take the loss but your starting out again having to put a deposit in. This is were mini is advantageous with low depreciation, but all dependent on what the dealer thinks the cars worth at the end of payments. either they will be lumbered with cars (setting it too high) or have people wanting to buy them as there worth more than there gonna pay for them (set below value).

Also PCP doesnt tie you to one manufacturer you can change brand if you wish
Reply With Quote
  #8 (permalink)  
Old Jun 19th, 2014, 04:06 PM
MINI2 Senior
Offline
 
Join Date: Apr 2012
Location: Suffolk - UK
Posts: 448
Local Time: 07:59 AM
United Kingdom Male
Quote: Originally Posted by ronpagg (original)
You will try to your own saving account. It have to use in you choose as well.

Thanks,


WTF !!!!

Has Habbi been reincarnated as Ronpagg?
Reply With Quote
Sponsored Links
Advertisement
 
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

» Hot Topics This Week
2nd Gen Front Grilles - (249 replies)
New Online Magazine for Track Day Enthusiasts - (21 replies)
Warning lights - (18 replies)
Carbon build up on inlet valves - (17 replies)
Runflats?! - (14 replies)
» Recent Threads
$95.00 @ Willow Springs Streets of Willow September 7th
Today 06:49 AM
by harvie
Last post by harvie
Today 06:49 AM
0 Replies, 3 Views
New Mini Owner
Sep 1st, 2014 02:35 PM
by Caxack
Last post by Caxack
Today 12:57 AM
1 Replies, 243 Views
R50 outer ball joint
Yesterday 11:18 PM
by diabloj
Last post by diabloj
Yesterday 11:18 PM
0 Replies, 106 Views
Power Steering Pump Hose - help needed
Yesterday 10:39 PM
Last post by langdang
Yesterday 10:39 PM
0 Replies, 89 Views
Advice on serviceable items....
Yesterday 08:36 PM
by TonyR53
Last post by Caveman
Yesterday 09:11 PM
1 Replies, 120 Views
Anyone know what could be wrong with my cooper s?
Yesterday 08:32 PM
Last post by Webbd050
Yesterday 08:32 PM
0 Replies, 123 Views
2011 Cooper S - Oil Pan Skid Plate
Yesterday 06:01 PM
Last post by The Nun
Yesterday 06:08 PM
1 Replies, 140 Views
R53 basic mods
Sep 1st, 2014 08:54 PM
Last post by Restyle
Yesterday 05:43 PM
2 Replies, 295 Views
Hey admins!
Aug 31st, 2014 11:32 AM
by doxbike
Last post by The Nun
Yesterday 05:35 PM
8 Replies, 444 Views
57 Cooper S boot and passenger door
Aug 23rd, 2014 01:07 PM
Last post by **KOOPERS57**
Yesterday 04:42 PM
6 Replies, 694 Views
What is this sound? R53
Sep 1st, 2014 12:04 AM
by gmb
Last post by heathwebbo
Yesterday 04:18 PM
4 Replies, 396 Views
New car seats
Yesterday 03:13 PM
Last post by Markal93
Yesterday 03:13 PM
0 Replies, 158 Views
Mammoth, Devils Postpile, Yosemite Road Trip September 20-21 2014
Jun 21st, 2014 11:55 PM
Last post by m3dragon
Yesterday 02:48 PM
2 Replies, 740 Views
2nd Gen Front Grilles
Dec 31st, 2007 03:15 PM
Last post by jwhite0393
Yesterday 12:37 PM
249 Replies, 44,849 Views
Runflats?!
Aug 9th, 2014 09:29 AM
Last post by davidscott
Yesterday 12:31 PM
14 Replies, 1,591 Views
Carbon build up on inlet valves
Dec 11th, 2012 01:53 PM
Last post by cristo
Yesterday 11:51 AM
17 Replies, 3,722 Views
Changing my seats!
Yesterday 11:42 AM
Last post by Markal93
Yesterday 11:42 AM
0 Replies, 179 Views
Sell dumps Many Country For ATM Cashout: http://www.vcvv.org/
Yesterday 10:38 AM
by dumps30
Last post by dumps30
Yesterday 10:38 AM
0 Replies, 168 Views
SELL CVV GOOD balance !!! http://sellccvv.com/
Yesterday 10:37 AM
by dumps30
Last post by dumps30
Yesterday 10:37 AM
0 Replies, 128 Views
» Premium
» Auto Insurance
Wheel & Tire Center

Powered by vBadvanced CMPS v3.2.1

All times are GMT. The time now is 06:59 AM.



Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.3.2