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How to finance a Mini

Recent grads 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 over $20,000, you’ll want to explore all your financing options before hitting the dealership.

How can I finance a Mini?

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 offers specialized financing for its vehicles at authorized dealerships. Current offers include financing a 2019 two-door Mini Hardtop for as low as 3.49% APR for 72 months with no down payment required.*
  • Mini leasing. Mini Financial Services also offers three lease programs: A motoring lease for heavy drivers, a traditional lease with the normal limitations and a mileage adjustment program that allows you to buy up to 100,000 miles. Mini leases last for 36 months, but the exact amount you pay and cash due at signing vary based on the model you select.
  • Mini Select financing. The Mini Select financing program allows you to make low monthly payments like you would on a lease, then pay off your Mini at the end of your term with a balloon payment. You can also choose to refinance the balloon payment through BMW Bank, but it does mean extending your loan term.
  • Mini OwnersChoice program. Like the Select financing program, OwnersChoice provides you with low monthly payments for a set term. After it’s up, you can choose to sell your car back to Mini at a predetermined price, refinance your balloon payment with BMW Bank or complete the financing process by making your final balloon payment. However, this is only open to Texas and Illinois residents.

As with all types of financing, the exact terms and rates you qualify for will depend on your creditworthiness and personal financial situation.

*Rates as of May 30, 2019.

How to apply with Mini Financial Services

Mini Financial Services offers a quick five-step application:

  1. Go to the Mini website and click Apply for Financing.
  2. Select the model you want to purchase or lease, then pick an authorized dealership near you.
  3. Select the type of financing you want to apply for, then select your preferred term and enter your down payment.
  4. Enter information about yourself, including your Social Security number, date of birth, address and annual income.
  5. Review your application and read the terms of borrowing. Click Submit Application.

Mini Financial Services will typically take between 12 and 24 hours to process your application and email you with a financing decision.

Mini Financial Services pros and cons

Pros:

  • Approved applicants receive the advertised rate
  • Three financing options: Traditional finance, balloon payment or lease
  • Discounts for college grads and accessibility equipment
  • Specialized lease for ride sharing

Cons:

  • Limited number of US dealerships
  • No FAQ for financing
  • Low Better Business Bureau rating

Compare car loans to buy a Mini

Explore your options by minimum credit score, APR, loan term and requirements. Select the Get started button to start an application with a specific lender.

1 - 3 of 3
Name Product Filter Values Minimum credit score APR Loan term Requirements
Carvana
No minimum credit score
3.9% to 27.9%
1 to 6 years
18+ years old, annual income of $4,000+, no active bankruptcies
Get pre-qualified for used car financing and receive competitive, personalized rates.
Monevo Auto Loans
500
3.99% to 35.99%
3 months to 12 years
Credit score of 500+, legal US resident and ages 18+.
Quickly compare multiple online lenders with competitive rates depending on your credit.
myAutoloan.com Car Loans
550
Starting at 2.15%
550+ credit score, no open bankruptcies, $24,000+ annual income, US citizen or permanent resident, 18+ years old
Get up to four offers in minutes through one simple application. Multiple financing types available including new cars, used cars and refinancing.
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Compare up to 4 providers

Does Mini offer special discounts or programs?

Yes, Mini has a variety of programs that offer discounts and reimbursements to customers.

Mini College Grad Program

The Mini College Grad Program gives recent college grads from any accredited undergraduate, graduate or associate’s degree program a rebate of $500 off a new 2019 Mini model or any Certified Pre-Owned models.

To qualify, you need to have graduated within the last two years or be set to graduate within the next four months, have a debt-to-income ratio of 20% or less and at least six months of credit history. You’ll also need to provide a copy of your diploma or an official transcript.

Mini Corporate Sales Program

Through the Mini Corporate Sales Program, you and your employees will have access to complimentary scheduled Mini maintenance for three years or 36,000 miles — whichever comes first, four years of roadside assistance and eligibility for the Mini Platinum Visa Card and other discounts and events. Contact your local Mini dealership to see if your business may be eligible for this program.

Mini Mobility Program

The Mini Mobility Program reimburses drivers for up to $2,500 of the cost of buying and installing adaptive equipment. However, modifications need to be completed within the new vehicle or CPO warranty. To begin the process, you can send the following documents to minimobility@miniusa.com or fax them to 201-930-8484:

  • Copy of your lease or purchase contract from an authorized US Mini center
  • Copy of your driver’s license, a doctor’s note or permit
  • Copy of the invoice detailing the modifications made to your car

Your claim will typically be processed within four weeks. If approved, Mini will send a check directly to you.

U.S. Mini Diplomatic Sales Program

The Mini Diplomatic Sales Program offers special pricing for eligible foreign diplomats, ambassadors, returning US diplomats and members of international organizations. The program excludes leased vehicles and base models. 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 $21,900 to $36,900 — your final price will depend on the add-ons and other features you choose.

2-door Mini Hardtop

  • Starting MSRP: $21,900
  • City/highway MPG: 32/28

4-door Mini Hardtop

  • Starting MSRP: $22,900
  • City/highway MPG: 31/30

Mini Clubman

  • Starting MSRP: $24,900
  • City/highway MPG: 28/27

Mini Countryman

  • Starting MSRP: $26,900
  • City/highway MPG: 28/27

Mini Convertible

  • Starting MSRP: $26,900
  • City/highway MPG: 32/30

Mini Countryman Plug-In Hybrid

  • Starting MSRP: $36,900
  • City/highway MPG: 65 EPA-estimated

Car insurance costs that come with driving a Mini

Does a new Mini come with a warranty?

Yes, all Minis come with a standard four-year, 50,000-mile limited warranty that covers defects in material or workmanship. Your Mini will also have a 12-year, unlimited-mile warranty for any rust or corrosion perforation. And during the first four years, Mini includes 24-hour roadside assistance at no extra cost to you.

Mini also includes complimentary maintenance for the first three years or 36,000 miles — whichever comes first. Covered items include:

  • Brake fluid services
  • Cabin air microfilter
  • Engine oil services
  • Engine air filter
  • Remote control/key battery
  • Spark plugs
  • Vehicle check

However, this complimentary maintenance is non-transferable — only the first owner or lessor of the vehicle is covered.

Bottom line

Known for its sporty design and sleek interior, getting behind the wheel of a new Mini will run you more than $20,000. 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

Can I drive for a ride-share program with a leased Mini?

Yes. You’ll have to contact Mini first, but you may be able to use your Mini for ride-sharing with the Car & Ride Sharing Lease. To be eligible, you’ll have 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.

How many Mini dealerships are located in the US?

Mini currently has more than 100 dealerships throughout the country. To find one near you, visit Mini USA and enter your ZIP code into the Find a Dealer tool.

Where are Minis manufactured?

It depends on the model. Mini has assembly plants in the Netherlands and England.

Do all Mini models have front-wheel drive?

Previously, yes. But now Mini offers all-wheel drive — called ALL4 — for its Countryman and Clubman models.

Does Mini offer certified pre-owned vehicles?

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.

Pictures: Getty Images and Mini official page

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