Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





MINI Cooper Prices Paid and Buying Experience

14344464849

Comments

  • rayainswrayainsw Posts: 2,576
    On the web site - I see an extended maintenance program \ upgrade - for $1,395.
    Just to be clear:
    A MINI extended warranty starts at over $2,000...
  • cj425cj425 Posts: 5
    hello.

    I am in northern NJ and recently got a quote for both the Cooper base and the Cooper S models from a dealer who's a "friend" of my father. Although I try not to be overly pessimistic, I am also not dumb and didn't assume that this person would just give me a good deal. I figured out how much the lease should cost for both options and it looks like both lease quotes are over by $35-38/month. Unless I've done the calculations wrong that is. I'm not a math wizard but perhaps there are costs that I didn't include? other than dealer profit ;) I wanted no money down other than first months payment & fees.

    Here's the details:
    Lease term is 36 months. Cars are automatic, have the premium package, bluetooth/ipod usb add on, and the cooper base was estimated with the spice orange color that adds $500

    Cooper S
    MSRP: 27450
    Residual: .64
    Invoice: 26500
    Money factor: .00185
    NJ Tax: 7%

    My estimated monthly payment= $352.71 Dealer offer= $389.44

    Cooper
    MSRP: 23600
    Residual: .67
    Invoice: 22900
    Money factor: .00185
    NJ Tax: 7%

    My estimated monthly payment= $287.31 Dealer offer= $321.55

    Am i doing the calculations wrong or do i need to do some more negotiating?
    Are these pretty much the standard rates for a lease on a mini these days? For some reason I thought they would be lower.

    thanks so much for any feedback!!!!!
    ~cj
  • qbrozenqbrozen Posts: 17,666
    edited November 2010
    We need to know what your price is for each car.
    Also, if doing $0 down, what about DMV and dealer fees?

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • cj425cj425 Posts: 5
    if by price you mean what they offered off the MSRP, then it is the invoice that I listed. He said it was only $500 above invoice...so maybe I mislabeled "invoice" and that is the price the dealer offered for each car. With regard to the DMV & dealer fees, I said I was able to put $1000 towards the first months payment & fees. Since the $1000 didn't change the price of the car, I figured that it just covered the first payment (~$350 ish) and the other $650 covered the fees for DMV & dealer. The doc fees are listed at $389. Should i have been told exactly how much the fees and DMV costs will be?
  • qbrozenqbrozen Posts: 17,666
    Yes. If you want to calculate your own payment, you need to know ALL the details. That is a very high doc fee, by the way. And I don't know if the remaining $611 would cover everything. Could be an acquisition fee, cleanup fee, bank fee, lunar eclipse fee, etc.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • cj425cj425 Posts: 5
    haha ok. i will look out for the lunar eclipse fee. that's pretty funny. I'm going to call & will update with the details.

    and thanks so much for helping me out with this!
  • cj425cj425 Posts: 5
    ok. so the up front fees are as follows:

    bank acquisition: $925
    Registration & Title: $227
    Tire Tax (thanks gov. mcgreevy): $7.50
    Electronic Filing charge: $6
    First Months pymt: $322
    Doc fees: $389

    Totaling: $1876

    With the $1000 i wanted to put up front that left about $900 ($25/month) in fees that were worked into my monthly payment. So, on my end, the payment i came up with ($287) plus the extra $25/month for the rest of the fees would bring the monthly payment to $312. which is still about $10 less a month than the dealer quote.

    and when i just spoke with them it turns out that the quote was mistakenly for a car that was manual, not automatic. manual transmission would add $1250 to the price of the car. Am i unrealistic to think that I can get a lease price around $300? You had said the doc fee was high, are all of these fees & the rates I've been given inflated as well?
  • qbrozenqbrozen Posts: 17,666
    Well, I can say that I've never seen a bank fee that high, either. About double what it normally is. Although I can't say I've ever shopped MINI bank fees, so I don't know if this is normal. Would be nice if someone else chimed in on it.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • qbrozenqbrozen Posts: 17,666
    edited November 2010
    I was trying to check your selling price... but I can't get the numbers to work for me. Is this an '11 or '10 model? I tried '11, but with Premium, Bluetooth/USB/ipod, and metallic paint, I get $22,850 manual trans or $24,100 auto trans. So I don't know where the $23,600 comes from.

    On the $24,100 car, the invoice is $21,760. That's about a $2500 spread. The selling price you listed under "invoice" is only $700 off MSRP. Certainly WAY more than the "$500 over invoice" deal he was supposedly giving you.

    So much of this is fishy. I would try another dealer if I were you.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • cj425cj425 Posts: 5
    when i spoke with the dealer again he said if I wanted automatic (which I thought was clear when i was at the dealership & we initially priced the cars) that it would bring it to $24,100.

    you are right though, that there are quite a few things here that are not adding up properly. I am going to call a different dealer to get another quote.

    thanks again for your help :)
  • kyfdxkyfdx Posts: 31,067
    The base bank fee is $725.. the dealer is marking it up the maximum allowed $200..

    I don't know the base MF, but I'd guess they are marking that up, too..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • The team at Seattle Mini agreed to a price and requested a deposit on a Wednesday. We arranged a pickup on Monday (to allow time for them to move the car from Northwest Mini to Seattle Mini). Seattle Mini then called late Saturday night to instruct that they could no longer honor the price. I am using this to issue a strong avoidance of the Northwest and Seattle Mini. I understand there are situations which complicated a transaction and if you agree to a price and ask for a deposit it is the dealers responsibility to come through. Sadly, both Northwest Mini and Seattle Mini are owned by the same man. I am hoping that I am able to post a future message stating that they came through, but I have little confidence that they will honor their word.
  • I had a similarly bad experience at a Honda dealership in Burien. I put a $500 deposit down on a Civic Si, agreeing to bring a cashiers check for the balance. Before I could return, they called and said they had sold the car to someone else. I asked them why they bother taking deposits then. Needless to say, I bought from another dealership.

    Northwest Mini's reputation (Seattle Mini did not exist at the time) is the reason I decided against the Mini. They tried to tell me that the car only sells for MSRP. How old is the design now? I don't think demand is all that strong anymore. Have you tried the dealer in Portland. Plus its easier to negotiate price without worrying about sales tax and add on fees (although you have to pay them when you register it back in WA).
  • dad2bedad2be Posts: 57
    Anyone have any more recent price quotes to share? After initially considering a lease I think I've settled on a purchase of a 2011 Hardtop, minimally equipped. How much over invoice is the going rate these days? I see there is $1k of "You-ification" money available now in addition to the 0.9% financing. The one I have my eye on has an invoice of $21492 and MSRP of $23600. Not the favored color combination, but if I could get it for $22000 - $1000 incentive = $21000 I'd be happy.

    Also, anyone know if there are still incentives/special financing on leftover 2010 convertibles? Have found a few locally that might be of interest if the deals are still really good.
  • Where did you see the $1000 for You-ification? My wife and I are looking at a base hardtop and we're also wondering what the going rates are for purchases on remaining '10s or in-stock '11s right now.
  • dad2bedad2be Posts: 57
    Hi there. The $1000 You-ification is not well advertised. I found it when I was searching inventory at dealers within 75 miles of here - some had it listed on their websites and some didn't. My local Mini dealer confirmed it today (only after I asked about it.) With this they were at $2000 off of MSRP pretty much right off the bat (was about $900 over invoice, minus the You-ification incentive.) Local dealer is relatively small, though, so I'll be contacting a few others within 50 miles to see what they can do. $2500 off MSRP should be achievable.

    Haven't seen any leftover 2010 hardtops in eastern PA / NJ area. There are a few 2010 convertibles around and I see ads for ~5k off MSRP for them, but have had a convertible for a while now (Wrangler) and am over it. Hope this info helps in some way. If I end up buying I'll post my final numbers.
  • "I see ads for ~5k off MSRP for them, but have had a convertible for a while now (Wrangler) and am over it."

    Can you please tell me where you asee these ads? Im looking to buy a Mini Conv.

    Thanks
    - Ron
  • dad2bedad2be Posts: 57
    Hi Ron,

    Sorry I don't have more specifics for you. I looked at ~30 dealer websites from DC to Boston when doing my research and didn't take detailed notes on the 2010 conv since I wasn't interested. I suggest you do a widespread search of the dealer websites in your area to see what's available and what the discounts are.

    For me, I agreed to a price and picked up my White Silver metallic 2011 Hardtop today from Ottos Mini in West Chester, PA. In addition to the paint "option", other options are heated seats, fog lights, the Bluetooth/USB package, and the 16" 6-star spoke alloy wheels. The MSRP was $22600 and the true invoice (after including the $1000 You-ification money) was $19592. I paid $20500, so it was a $2100 discount off MSRP and $908 of profit to the dealer. I had wanted to be a few hundred lower, but this car was pretty much the exact color/configuration I was looking for so I'm satisfied.

    I actually had a very hard time finding minimally equipped Hardtops (no Premium package, etc) with just the 16" Alloy wheels, fog lights, and the Bluetooth/USB package in a color I wanted. Didn't really want heated seats, but since I park outside and live in the Northeast I'm sure I'll get some use out of them.

    The guys at Ottos Mini were great to work with. Had 2 rounds of phone negotiations completed by 1pm, took my credit application info over the phone (0.9% financing!), and had EVERYTHING ready and the car prepped when I arrived at 3:30pm, and it was very busy in the showroom today. A great experience.

    (Ron - noticed they had a nice red 2011 Conv in their showroom with an attractive sale price - MSRP was ~30400 and on sale for ~26900. Bigger discount since a lot more margin.)
  • scott31scott31 Posts: 280
    I was able to get $8200 off my 2010 convertible purchase at the end of Oct. $6300 off MSRP from the dealer, and $1900 in the form of an incentive from Mini for attending one of their events.

    The dealers in the DC area (4 of them) all had from 1-3 2010's in stock. I checked recently, and they are all gone now. Hopefully you can find a 2010 somewhere.
  • chchoichchoi Posts: 37
    I got a 2011 Mini Cooper Red.
    auto
    roof
    Bluetooth.
    MSRP 22850
    Selling price 21965.11 (1330.11 above invoice)
    Is this a good deal?
  • I'm going to buy a 2011 Cooper S, with premium package, cold weather package, navigation and some other options. The total price from the website is $28,300.

    What's a good deal for it? How should I start negociate with dealers? Seems like they don't like to talk through email, they rather do phone calls.
  • elshinelshin Posts: 1
    Hello, I have eyed the MINI Cooper S for a year and a half. I have visited the dealership a number of times, but dissatisfied with the price. The last visit was in December in which I qualified for the 0.9%, but was disappointed when told the dealership would not reduce the price for a sale. I was never told about the $1000 You-ification. How did you convince the dealer to lower the price?

    Note: I'm located in Georgia and there are only 2 dealerships.

    I'm open to any advice....

    Thanks,
    elshin
  • Does anyone know if the You-ification money is still available? From the miniusa website, I see that they've changed from 0.9% financing to 2.9% but the throw in a free option (like steptronic, which is worth $1250).

    I'm about to pull the trigger on a 2011 Cooper Hardtop and want to make sure I know of all the incentives available to me and the dealer.
  • dad2bedad2be Posts: 57
    Regarding earlier question of how I got the dealer to lower the price, it's no secret strategy. I first collected data on incentives, then searched inventory, then contacted the dealers for their prices. The price I paid was a good discount for me for a car equipped just like I wanted, plus allowed them a nice profit. It was also the last few days of the month and fiscal year, so maybe they were willing to be more flexible, and there are more dealers to choose from in eastern PA.

    tomc1227: It does not appear that the $1k is still available, but you are right that there is an option credit. I've seen that the "free" option allowed depends on the model, so I'm sure the dealers would have more specific info. For me, I drove both an automatic and a manual before purchasing - this car needs the manual for maximum fun factor!
  • If anyone is still interested in getting a quote - I bought my new 2011 MC (automatic trans, premium package, iPod/USB/Bluetooth) last week. I was able to get $2100 off MSRP but only after getting multiple quotes from various dealers (this was like pulling teeth, mind you since most of them want you to go in).

    There's currently a 2.9% APR financing deal and the "free bonus option" which includes I think either cold weather package, automatic transmission, bluetooth, cold weather package (Mini dealer website states what options they have available). Unfortunately with the price that I got, they wouldn't give me this "free bonus option" because I'd be under invoice. I asked if this was a manufacturer incentive (which according to another dealer is) but my MA said it's a "partial-manufacturer incentive." Hmmm... sure... okay. Well I knew that they weren't going to go any lower on a 2011 in my area and it was the car that I wanted in that color. Since they wouldn't go lower, I asked for floormats which they gave me :)

    Hope this helps. I think this thread shows that it's definitely possible to get close to invoice but it's a bit more difficult than most cars since Mini doesn't make as many...
  • amazwamazw Posts: 1
    Hi, did you put any down payment when finance your mini?
    The dealer in NJ let me put 2000$ down.
  • Yeap! I hadn't realized that some dealers don't let you?
  • Kirstie_HKirstie_H Posts: 10,913
    If you bought a new small car in January, a reporter wants to talk with you. Please email pr@edmunds.com with your daytime contact information and a few words about your new car and your trade-in, if you had one.
    Thanks,
    Jeannine Fallon
    Corporate Communications
    Edmunds.com

    MODERATOR
    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • Okay, so the only thing I know is that I have approved financing and I'm looking for a 2008 or newer Mini Cooper Base or S. I'm in NY and there is one that I am looking at that appears to be what fits. It's a Yellow 2009 S with 21k miles on it. The CarFax is clean and from the options, it looks to be a stock Cooper S.

    The list price on the Website (Hassel Mini) is 19,995. First off, how low can I go before I insult them?

    The other question (sorry, I haven't bought a car in years, and not a "nice" one) is that there is a 2011 Base HardTop Automatic (Black) that is listed at 21,850. Are the 2011's selling for much under "list" price?

    Any reason to think I could get say $2k off of what these "listed" prices are?

    Thanks for any replies. I know dealers have to make a living, but I really want to try to get the best bang for my buck. Being so unfarmiliar, I don't even know which I should target, the '09 or the '11.
  • Hi Rockstar03,

    Does your price "$2100 off MSRP" include tax and title fees?

    Thanks!
Sign In or Register to comment.