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Discussion Starter #1
Hi all,

i'm about to ask a rude question but any advice would be gratefully received.

i currently own a r56 cooper, astro black and most importantly jcw aero kit

i'm looking to upgrade to a factory works in the next coming months but am apprehensive to speak to the dealership just yet, i hate the 'hard sale.'

my car is financed through SELECT, it was around £18k, i put £4k down and repayments work out around £230 per month.

if anyone has financed their factory works with select and wouldn't mind sharing how much your repayments work out at i would really appreciate it so that i can anticipate how much my new car should cost

again, apologies for the probing question.
 

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FS58MBW
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69 Posts
Hi - I haven't looked into financing options but I would shop around if I were you. I don't know what interest rate you'll be offered by your dealer but it would be wise to go to your bank and compare.
 

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Hi,

I've just financed my JCW with Mini HP, not select. The car was £25700 and I put down £8700 deposit so financing £17000. Apr is 9.2% with 60 monthly payments of £350.
Was told by Mini 9.2% was the best they could do
 

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If you are wondering what the final payment will be. I worked one out on a 4 year doing 10k per year and it was just short of £10k.
 

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9.2% no way they can do better

6 month's ago i got 7.8% on select :confused: shows you need to push your dealer or travel i went 240 miles did most of the deal on the phone.

credit was £13,416.96

pay £244.94 over 35 months

final payment £7178.62
 

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JCW rocks!
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Car was £28k, got 2000k from trade-in of Cooper S (prev select deal to clear off) , £500 deposit. Select Finance is £499 pcm for 4 years, 12000 miles p.a. max.

Collection Sep 1st, GONNA BE WORTH EVERY PENNY!!!
 

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select

My jcw was 23500. I put 4500 deposit and the payments are 222 per month for 2 years with 6ooo miles per year. In 2 years i can buy it for 17100 or hand it back. I get mine in 3 weeks.:D I have also got insurance quote for 289 fully comp, i am 41 with full no claims and the car will be garaged. then there is the 40-50 mpg. Bargain if ya ask me.
 

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A Total Mini Convert
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Car was £28k, got 2000k from trade-in of Cooper S (prev select deal to clear off) , £500 deposit. Select Finance is £499 pcm for 4 years, 12000 miles p.a. max.

Collection Sep 1st, GONNA BE WORTH EVERY PENNY!!!
£499 pcm!!!!!!!! Ouch.
 

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FS58MBW
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I wasn't going to get financing but to preserve my savings its worth a look. My bank is currently offering a fixed rate of 8.9% on personal loans but refund 25% of interest paid at the end of teh loan, effectively reducing the rate to 6.9%. Will see what MINi can do to match or better that this afternoon.
 

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JP :-)
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Hi all,

i'm about to ask a rude question but any advice would be gratefully received.

i currently own a r56 cooper, astro black and most importantly jcw aero kit

i'm looking to upgrade to a factory works in the next coming months but am apprehensive to speak to the dealership just yet, i hate the 'hard sale.'

my car is financed through SELECT, it was around £18k, i put £4k down and repayments work out around £230 per month.

if anyone has financed their factory works with select and wouldn't mind sharing how much your repayments work out at i would really appreciate it so that i can anticipate how much my new car should cost

again, apologies for the probing question.
Having recently looked at changing my R56 Cooper albeit for a Standard R56 S, I was shocked at the part ex price......... best any dealer offered in Northern Ireland was £10,500k :mad:, a fairly significant drop in just over a year and half, they also said the AeroKit was more or less worthless and in fact any of the dealers would just about offer an extra £200 for it on the trade in:rolleyes: I hope you have better luck than I did but I'll be holding onto my Cooper for another while yet.
 

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FS58MBW
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Got offered 5.5% by dealer for a straight HP deal. But before getting too excited this was far from a true APR - rather it was 5.5% of the entire balance for the life of the loan; i.e. not on a declining balance as is usual for an amortized loan such as banks offer. It worked out to something over 9% by my reckoning. Fortunately I was able to pick up on this by comparing it to my bank's quote earlier today. So anyone else thinking about going this route beware. The MINI Select deals will work out at even higher rates but do offer the advantages of gauranteed residual value. I think thsi car will be with me for quite a while so will stick with Plan A.
 

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You've just been totalled
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My local has the PW demo at £27k list - £5k deposit, £550 per month I think it was for 36 months with a £13k final payment :eek: About 14.9% IIRC :eek:
 

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Car was £28k, got 2000k from trade-in of Cooper S (prev select deal to clear off) , £500 deposit. Select Finance is £499 pcm for 4 years, 12000 miles p.a. max.

Collection Sep 1st, GONNA BE WORTH EVERY PENNY!!!
Wow..that's a lot of money there. If it's not too late, maybe worth shopping around like others have suggested in this thread?

I see you're in London... i hope you're not working for an investment bank (credit side of things anyway :tongue:)
 

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A Total Mini Convert
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Having recently looked at changing my R56 Cooper albeit for a Standard R56 S, I was shocked at the part ex price......... best any dealer offered in Northern Ireland was £10,500k :mad:, a fairly significant drop in just over a year and half, they also said the AeroKit was more or less worthless and in fact any of the dealers would just about offer an extra £200 for it on the trade in:rolleyes: I hope you have better luck than I did but I'll be holding onto my Cooper for another while yet.
Most of the options apart from the Chili pack are worthless when you trade it in! When they say that the Mini holds its value well, they base it on a base spec model, but who ends up buying a base spec model!!
 

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On our 2nd one now!!!
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Leather and Sat Nav are about the only options that affect the residual value these days.

Everything else is just window dressing.
 

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Most of the options apart from the Chili pack are worthless when you trade it in! When they say that the Mini holds its value well, they base it on a base spec model, but who ends up buying a base spec model!!
Very true , spec to resale is a waste of your money.
 

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JCW 250
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Had a look into it over the weekend - car is basic, only added the chilli pack (which makes the payments cheaper by the way due to the future value) over 3 years with 30% deposit came out at £268 per month. Deposit about £7K. Shame that ive only got a £1.5K deposit really...
 

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JCW 250
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that sounds very expensive. We only put a 4.5k deposit down and the monthly payments are similar to what you are quoting
With a £1.5K deposit it came to about £450 per month...

Am going to a different dealer on Saturday to see if I can haggle!
 

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Factory JCW
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658 Posts
Got this quote last week on the JCW :

Deposit of £3250 then 48 months at £300 p/m final payment of £10250.

Car was just basic no chilli pack...
 
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