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I was surfing through the financing options on the MINIusa website and came across the College Graduate Financing option. I am eligible for this and am curious if anyone has more information on it. The website did not provide much detail, only that they offer "competitive" rates.

So, I'm curious, is this really any different than a traditional finance, they just give it a fancy name, or do I actually get something with the College Graduate Financing that I couldn't get after my 12 month after graduation period is over?
 

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I'm sure your MINI dealer can provide in-depth info on this option, or contact MINI Financial via the website.

It's best to obtain financing quotes from a wide range of lenders, including E-loan and other, reputable internet lenders. Then, you'll have a good idea of what's available so you can return to the most competitive ones in order to haggle, or whittle them down a bit.

Make the lender work for your business, it will save you money.
 

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It depends on whether you already have enough credit history or not. I inquired about this as well when I bought my mini. From what I understood it's really just a way for new college grads who don't have much of a credit history to get good interest rates instead of the high interest rates they would normally get. I didn't go for this since I already had a good credit rating.
 

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Jerome81 said:
So, I'm curious, is this really any different than a traditional finance, they just give it a fancy name, or do I actually get something with the College Graduate Financing that I couldn't get after my 12 month after graduation period is over?
Hello,

The way the program works is that Mini gives you less strict criteria for approval. By using the College Grad option, you're not going to get some "special" finance or lease rate. But, BMW/Mini Financial will approve you for your loan without many of the things that they look for when approving someone that is not a recent grad, and they won't charge you much higher rates for having a limited credit history. For example, they understand that you're starting out, and therefore will have a short employment history, and you'll be unlikely to have a past history of car loans. The College Grad program usually only requires that you can show that you are currently employed (letter from your employer works), and that you can show that the payment will not exceed a certain percentage of your income.

Hope that helps.

FS
 
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