MINI USA Lowers Financing APR to 2.9% on All Hardtop Models

Later today MINI USA will be announcing 2.9% financing on all hardtop models. Here’s the rundown:

  • 2.9% financing up to 36 months all hardtop models except JCW
  • 3.9% financing up to 48 months all hardtop models except JCW
  • 2.9% Financing all hardtop JCW models up to 60 months or 5 years

It’s an incredible deal and the first time MINI has gone this low on any models (let alone the JCW).

MF Analysis: It’s both a sign of the times and a sign that MINI missed the mark with the specifications on the JCW. The fact that they are willing to blow out the JCWs at 2.9% for 60 months is a very obvious admission that something isn’t quite right with the specification vs the price. We expect to see some sort of specification updates to the JCW later this year.

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Written By: Gabe

  • kevjandon

    looks like the JCW isn’t selling well. 2.9 for 60 is a pretty good deal. BMW recently has .9 for 60 so they could go lower.

  • CraigE

    It’s funny how perception is relative. For MINI 2.9% is “blowing them out!” For everyone else it is par for the course or a mediocre rate.

  • C4

    D-e-s-p-e-r-a-t-i-o-n.

    $35K JCW MINI factory cars are a “No-go” in this terrible economy. Time to fix up the spec and bring the asking prices more in line with market realities.

    Oh and say bye, bye to our solid resale values.

  • bacione

    Is anyone even a fan of MINI on this website anymore? I’ve never heard more negativity in my life.

    Lighten up!

  • Sideways

    Residuals have already started to fall in Canada…As of Today, they have been lowered by 1% but as the year tumbles on look for them to dip slightly more than that…Even with it tho, MINI will still top the List for resale value.

  • cct1

    In the long run, this will be a positive, not only for the current “specification updates” alluded to above, but for the future–you can bet the next generation JCW’s will also be better spec’d, and more performance oriented. Although if there are going updates coming on the next year JCW, it will kill the value of the first year model.

    IMHO, the JCW should have been a performance first, comfort second vehicle, with its own unique appearance that brought back some of the edginess and nastiness lost on the R56 in this regard (The R56 is a hands down great daily driver, but the improvement in its overall refinement came at a price for the minority hardcore, where refinement takes back seat to performance). I’m still more likely to hold out for a GP variant, but I’m still very curious on what the JCW will evolve into in the not so distant future.

    Thirty grand will get you a 370Z; the competition is getting stiff in this price range. Hopefully BMW/MINI will keep up, ’cause that’s where my heart still is–even after goofing around with the 370 ( a great car for that price, but it does have some issues).

  • dc11r

    not to mention a civic Si, Subaru impreza STI, Hyundai genesis, BMW 128i, Accord coupe, Mazdaspeed3, GTI, R32, G37s, etc…

    all which are MUCH more car than the mini will ever be. The only thing that the mini has on top of any of those is character… but its a huge premium to pay for “character”.

    If more things were standard, that should have been standard, I’m sure the mini would sell a lot better. I know I could finally justify spending the money.

  • Bob

    @bacione

    It’s about time somebody said it. It’s amazing that some people who apear to be on this site all day have nothing positive to say about the car or the manufacturer.

  • robble

    We need some special money factor lease rates!

    Low buy rates are fine but I switch cars too often to buy.

  • C4

    @bacione:

    Fortunately, MF is not a fanboi site.

  • JonPD

    Don’t think this warrants doom and gloom rather is a rather predictable result of the global economic meltdown. Actually I think this is a incredibly wise move by Mini, the Mini brand is running against heavier direct competition and outside of character is not that awesome of a deal. I honestly believe that instead of developing vehicles which may server a tiny portion of the market they would be much better off using the funds to develop a truly class leading product.

    Given a few years the Mini will be facing huge pressure in the states from many builders including possibly Fiat and Alfa brands coming to the states that have been taking a large bite out of the Mini market in Europe I cannot help but believe that Mini really hasn’t placed itself very well for this downturn.

  • JonPD

    Also have to say that after looking over the Alfa MiTo GTA that the JCW Mini is about to be embarrassed by a cheaper and less powerful car. At the end of the day, Mini has decent performance, higher than average personality, average build quality, and still rather lacking in my view for interior design.

  • Dr Obnxs

    I bet they’re saving the 0.9% for the softroader! That one has a base price that’s even higher.

    Really, people on this site are pretty much all fans of Mini, but there is a lot of writing on the wall that the current business model isn’t perfect. Is it wrong to point that out? Or should we all just bury our heads in the sand and go on saying everything is perfect….

    Matt

  • AN

    All business models can be tweaked and improved, but I’d much rather be MINI right now than just about any other automaker. Only Kia was up last month, according to the NY Times.

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  • Mk1

    A good sign. A little pain here for BMW MINI, and mayby they will wake up and see that they are model rev’ing and up-pricing themselves right out of their nich market, and get back to what made both the Mini and the MINI such a hit early on. Hot, basic, unique, affordable. And stop trying to turn it into a small BMW with the typical BMW yearly bloat-add in size and price.

  • CraigE
    And stop trying to turn it into a small BMW with the typical BMW yearly bloat-add in size and price.

    FUD much? Yearly increases in size? There have been none except at the R56 introduction and that was quite minimal and pretty much required by new EU regulations.

    Over the last few years, price increases have been minimal and partially because of additional standard features like DSC. Top prices have gone up due to new available options.

    Sensationalism doesn’t serve anyone.

  • Beavers

    “We expect to see some sort of specification updates to the JCW later this year.”

    I like the sound of this. It sounds like somebody knows something that they aren’t allowed to say… Let’s hope that the price stays the same and the JCW suspension becomes standard. Am I dreaming Gabe?

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  • http://www.motoringfile.com/ Gabe

    @Beavers: yes…. And no.

  • cct1

    But not necessarily in that order?

  • http://www.motoringfile.com/ Gabe

    @cct1: I mean, no… and yes.

  • C4

    You are me and me are you….

  • cct1

    Ok, thanks–that partially incompletely clears it up beyond an unreasonable doubt!

  • http://www.motoringfile.com/ Gabe

    @cct1: Sorry! I wish I could just come out and say more…

  • cct1

    Not a problem, I know at times there’s a limit to how much you can throw out there; I’m just goofing off. Nonsensical conversations are just too fun to resist (even C4 couldn’t refrain); when a thread starts to degenerate into a Monty Python skit, count me in!

    I’m just glad that there’s hope for the future; looks like the whole JCW performance thing is going to get closer to what many of us hoped for from the beginning (or at least from the time BMW bought it out). Nice to see the change in direction!

  • C4

    Gabe, sounds like there is some kind of embargo on that info….Short or long term embargo?

  • http://www.facebook.com/profile.php?id=1145665586 DUDE!

    Gee I wish they would refinance my ’04 loan at rate.

  • Charlie

    Well, MINI posted the details online @miniusa.com. However, the deal is only good for purchases made through March 31, 2009! Oh well, that doesn’t work for me.

  • JonPD

    Just find myself hoping that whatever comes out about the JCW brand later this year isn’t as much as a huge embarrassment to John Cooper’s name like the current car.

    Also with more and more hot hatches it would be great if they decide to produce a true performance car than something with a few tiny performance gains but I find myself not holding my breath for the latter. Think the Alfa GTA will be running around anything coming from Mini for a long while.

  • robble

    Gabe, you are worrying me since my JCW just came off the assembly line today. It would suck to miss a valuable upgrade by a week or two!

  • rs

    Its probably a new color scheme or something… If they are going to upgrade the performance, the price is going to go up. Who the heck will be able to afford it?! They can’t build a more powerful car and sell it for less can they?

    Maybe they’ll sell a stripped down racer for the performance minded, no bells/whistles, just more engine, lighter wheels, free flowing intake/exhaust. That would be a cool car.

  • eager2own

    ^ and they could call it … I don’t know… “GP” has a nice ring to it

  • rs

    Is that what the GP was? I’m aware of that car but not really all the details about it. I remember it had no back seat and had red mirror caps, that’s it. I thought it was very expensive though? It was priced as much as a factory JCW is now, back then?

  • cct1

    The GP was about 31,000. Slight increase in power/torque over the JCW, improved brakes AND suspension, lighter, and with significantly better aerodynamics, especially with regard to downforce.

    Inside, it was pretty much stripped down. Definitely more performance biased than comfort biased.

  • JonPD

    I have serious love for the GP, but can say that I still think it was a bit light and fluffy as a true performance car. No doubt that the GP can embarrass a few cars but still would like to see them take a development further. Still I expect that the upcoming info about the JCW brand is more about a few tweaks to the current model to make it a bit more palatable to perspective buyers. Guessing it will still bow out towards being a comfort car than a sports car. Not likely to see anything super special until the next “GP” in 2012ish.

  • Ian F

    @ DUDE

    It wouldn’t hurt to look into other loan providers to possibly refi at a lower rate. My g/f did this with a couple of her cars over hte years.

    I have to admit this news sent me scrambling to the configurator to build a JCW… still $34K for my “daily driver” spec… even if I somehow get $10K for my current car (unlikely), I’m still looking at well over $400/mo for 60 mo… and around $350/mo for a similar spec MCS… I simply can’t do that again… it was murder the last time… <:-[

  • mtbscott

    I’m not seeing how reduced financing rates (which all automakers across the spectrum are scrambling to offer) is an indictment of the JCW car’s specifications. It’s rather obvious that some of you around here don’t like it, but myself and plenty of others have purchased the factory JCW and are quite happy with it. Lots of cars have some smokin’ deals available right now, and yes it’s a sign of the times, not that there’s anything inherently wrong with them. I usually agree with you Gabe on most things but think you’re reading way to much into this current bid to increase sales.


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