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How to finance a MINI
Returning customers and business owners may be able to take advantage of special programs.
As one of the most iconic British car brands, a new or preowned MINI can be an eye-catching vehicle to take for a spin. But with its base models starting at nearly $25,000, you’ll want to explore all your financing options before hitting the dealership.
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Like all vehicles, you can opt for a car loan from a bank, credit union or online lender. Even if you end up opting for the MINI financing programs available below, applying for preapproval from multiple lenders will allow you to see your potential rates — making it easier to choose the loan that best suits your budget. However, this isn’t the fastest option, since it takes times to compare offers.
Another option is to consider financing or leasing directly through MINI Financial Services. This is typically the fastest way to go, though you might not get the most competitive rates. Here’s how it breaks down:
MINI retail financing.
MINI Financial Services provides 2 ways to own its vehicles. Current offers include financing a 2020 Mini Cooper Convertible for as low as 2.99% APR for 72 months with no down payment required – your monthly payment in this case would be $539.*
MINI Standard financing. The MINI Standard financing program allows you to the flexibility of selecting from a variety of down payment amounts and repayment terms ranging from 24-84 months. Interest rates are said to be competitive, and there are no early termination fees should you pay back your car loan ahead of schedule.
MINI OwnersChoice program (not available in Quebec). Similar to the Standard financing program, OwnersChoice provides you with a low monthly payments for a set term. Once the term ends, your remaining balance is charged as one, larger balloon amount, which you can choose to pay off, finance or discharge after trading in your vehicle.
MINI Financial Services also offers 3 lease programs: standard, multiple security deposit and single payment lease. You also have 3 mileage options to choose from including 12,000 km, 16,000 km and 20,000 km. MINI leases last for up to 48 months, except for the MINI Convertible, which can be leased for up to 45 months.
Current offers include leasing a 2020 MINI Cooper 5-door for 48 months with 2.99% APR and no down payment – in this case, your monthly payment would be $373.*
Standard Lease. With a Standard Lease, you make monthly payments on a model of your choice for a period of time, after which you can return your vehicle and walk away or lease a new one. Enjoy a variety of contractual terms and lease maturity options.
Multiple Security Deposit. With a Multiple Security Lease, you pay up to 9 more security deposits upfront when getting your vehicle. Each additional deposit lowers your interest rate and monthly payment, and once the lease is up, you get your deposits back less any outstanding charges on the car.
Single Payment Lease. Single payment leasing works much the same as buying a car in cash. With this arrangement, you make one, large payment upfront that covers all your lease payment plus interest. The advantage is 3-fold: (1) you don’t have to make any monthly payments, (2) you only pay interest on the residual amount instead of the full lease amount, and (3) you’re given a 0.25% discount on the interest rate. Once the lease concludes, you have the right to buy your vehicle.
As with all types of financing, the exact terms and rates you qualify for will depend on your creditworthiness and personal financial situation.
Savana, a resident of New Brunswick, is in the market for a new car and has her eye on a 2020 MINI Convertible Cooper S priced at $48,500.00. She trades in her old car for $5,800.00 and puts a 20% deposit of $8,540.00 on the MINI. Savana then applies for dealership financing to cover the rest of the cost ($34,160.00) plus 15% HST. Thanks to her solid credit history and good income, she is approved. In addition to the cost of her loan, she also pays around $100.00 to register her car with the provincial government.
Cost of new vehicle
Auto loan (term loan)
Interest rate (APR)
4.00% origination fee ($1,622.60) $0.00 application fee (waived by dealership)
$590.65 monthly or $272.32 biweekly
Total loan cost
$49,614.60 with monthly payments or $49,562.24 with biweekly payments
*The information in this example, including rates, fees and terms, is provided as a representative transaction. The actual cost of the product may vary depending on the retailer, the product specs and other factors.
Does MINI offer special discounts or programs?
Yes, MINI has a variety of programs that offer discounts and reimbursements to customers. Note that you may be able to get special offers from programs offered by private dealerships including discounts for graduates and military service people.
Through the MINI Loyalty Program, returning customers can choose between 3 options that give them savings on their next MINI vehicle: (1) a rate reduction of up to 0.5%, (2) a credit of up to $500, or (3) a payment waiver of up to 3 months. The loyalty discount can be applied in addition to other discounts or promotions.
Through the MINI Corporate Sales Program, companies with 5 or more company vehicles or car allowance drivers can get discounts from $500 – $1,000 depending on the model. Plus, you and your employees will have access to complimentary scheduled MINI maintenance for 4 years or 80,000 km — whichever comes first and a No-Charge Scheduled Maintenance Plan that gives you complimentary vehicle service for 3 years/40,000 km. Contact your local MINI dealership to see if your business is eligible for this program.
The BMW Diplomatic Sales Program offers special pricing for people who can provide a diplomatic passport or service passport from a recognized international organization and who are accredited by their host nation for a mission of at least one year. The program allows eligible individuals to buy the same model for a standardized price wherever they are located. Only one vehicle can be purchased per year through this program, and a 10% upfront deposit is required. Contact your local MINI dealership to see if your international service qualifies.
What will a new MINI cost me?
Like all new cars, prices will vary based on where you live and your negotiation skills at the dealership. The basic trim of a MINI ranges from around $24,500 to $47,500 — your final price will depend on any add-ons or other features you choose as well as fees for delivery, administration and related services. The following prices are for 2020 models.
Yes, all MINIs come with a standard 4-year, 80,000-km limited warranty that covers defects in material or workmanship and includes 24-hour roadside assistance at no extra charge.
MINI also includes complimentary maintenance for the first 3 years or 40,000 km — whichever comes first. Covered items include:
Brake fluid services
Cabin air microfilter
Engine oil services
Engine air filter
Remote control/key battery
Known for its sporty design and sleek interior, getting behind the wheel of a new MINI will run you more than $25,000. But you may be able to cut down on costs by taking advantage of one of its many car-buying or financing programs. Before you get started, explore your car loan options to get an idea of what rates and terms you might qualify for.
Frequently asked questions
Possibly, although it depends on the dealership. You’ll have to contact your authorized MINI dealer first, and will need to go through MINI Financial Services — but it gives you a way to use your leased vehicle as a way to earn a little extra cash.
MINI currently has more than 50 dealerships throughout the country. To find one near you, visit mini.ca and enter your postal code into the Find a Retailer tool (top, right-hand corner of the page).
It depends on the model. MINI has assembly plants in the Netherlands and England.
Previously, yes. But now MINI offers all-wheel drive — called ALL4 — for its Countryman and Clubman models.
Yes. In fact, MINI takes things a step further. When you buy a certified preowned (CPO) car from MINI, you’ll receive a similar warranty and roadside assistance program as buying it new — an added benefit for those wary of the price tag of newer models.
Stacie Hurst is an editor at Finder, specializing in loans, banking products and money transfers. She has a Bachelor of Arts in Psychology and Writing, and she completed one year of law school in the United States before deciding to pursue a career in the publishing industry. When not working, she can usually be found messing around with games, photography or floral arrangements in memory of her former days as a flower shop assistant.
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