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Discussion Starter · #1 ·
am i missing anything?

went into my dealer with my 2003 (53) mini one and ended up with a new Cooper on the select plan.. we collect on friday :cool:

We seem to have been rushed through the details of the finance and i just want to make sure there are no nasty surprises around the corner..

anything i should be aware of with the select plan? :confused:
 

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Ive had mine on Select and never had a problem :) Ive always changed mine early mind you and always came out the other end with a deposit for a new one :)

You basically have 3 options at the end of the term..

Part Ex your MINI - anything over the GFV goes towards a new car

Keep your MINI - Pay all the payments and the MINI is yours.

Return your MINI

You can also get half way through your agreement and having paid half, you should be able to hand back the car and not owe anything (having paid the interest), but its not something ive done so im not totally sure how that works.


"not authorised and regulated by the financial services authority" :p
 

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Discussion Starter · #3 ·
Thanks :smile:

I dont know why but i had an awful feeling that the guy at my dealer was hiding some big fat amount of money from me....

guess i am just not a trusting person...
 

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Thanks :smile:

I dont know why but i had an awful feeling that the guy at my dealer was hiding some big fat amount of money from me....

guess i am just not a trusting person...
Things to be careful of:
(1) The monthly payment you make normally assumes a certain mileage per annum, if you exceed this then you'll likely have to pay a pence per mile surcharge if you hand the car back at the end of the term
(2) If you hand the car back at the end of the three years then you'll effectively loose your "deposit" as you'll be car less, but without any monies to put towards a different car
(3) the final payment might be quite high, if you have a modded car then the difference between the final payment and part-ex figures will be pretty close, if part-ex values aren't maintained then you may not even receive enough to cover the payment if the part-ex figure is less than in the final payment figure
(4) if you hand the car back, then if not in perfect condition then cost of any repairs will be charged to you (from what I understand)

Worth looking at the small print in any case :)

Stu
 

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Discussion Starter · #5 ·
Thanks Guys

Does anyone know when the 1st Select payment is taken after the car is collected?

Seems its easier to get answers here than from my dealer :frown:

Good news is I should be picking my car up on saturday :)
 

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The first payment is usually taken about a month after you collect the car, but it depends on the date you collect and the date they set the payment to come out :) You will get a pack through the post from MINI Finance, and that has the date of the first payment on it (from memory).

Dont forget, your first payment will be about £100 more than normal, due to 'admin' fees :hmph:
 

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Discussion Starter · #7 ·
The first payment is usually taken about a month after you collect the car, but it depends on the date you collect and the date they set the payment to come out :) You will get a pack through the post from MINI Finance, and that has the date of the first payment on it (from memory).

Dont forget, your first payment will be about £100 more than normal, due to 'admin' fees :hmph:
Thank you, what a star and such a super quick response. MUCH quicker than asking my dealer :D

Luckily i know about the higher (admin) payment and asked my dealer about it. I had to tell him that it was £150 as he told me it was £125! Fills me with confidence! :aargh:
 

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No worries :D

Some dealers really need a lesson in customer service!! :hmph: Luckily I dont have that problem, and anything I ask gets answered quick sharp :nice:

Dont forget to post pics of your car when you get it :D
 

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I hate Select and i am glad i am finally off it when i get my new Clubman.

The problem is with select you put so much money in and are left with very very little at the end. :mad:
 

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Derv? Nein Danke.
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Having bought my Cooper s on Mini select ................ well in retrospect .....................its VERY expensive compared to others and I'd advise anyone to look at other finance deals.I really do wish I'd done more homework, I didn't think for one minute that Mini's scheme would be so much worse than other manufacturers.

Mercedes will do a CLC 200 Kompressor Sport (approx £22k) ................... £3k deposit and 36 monthly payments of £240 on their PCP scheme. the set up fees are almost the same as Mini's. Compared to my my Mini select agreement the Merc one is alot better value.
 
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