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Prices Paid: Buying & Leasing Experiences MINI Cooper Prices Paid and Buying Experience
1094 messages, Last post on Aug 26, 2008 at 1:28 PM
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The dealer markup is 3k but she was able to get us 1.5k thinking we are leasing.. If we were to say we are going to buy the car out instead of lease, wouldn't they maybe give us the full mark up? Doesn't the dealer make more money through leasing rather than selling flat out? We could afford to finance through USAA putting 6k or so down and making the term for 60 months or so but I'm scared they might give us the full mark up with us not leasing from them. Unless the dealer prefers a buy out, I don't know. But with 6k down we could get better lease payments but I think it's crazy to put that much down on a leased car as that money is just being thrown out the window really. Or am I wrong? Because that down payment doesn't go to buying the car out in the end, does it? Going out of town is still an option and the wait doesn't really bother me but I really just want to get my car now, ya know? This is going to be my first car and I'm happy with the one they are expecting. I just regret missing out on seeing the car be made and the fact that 1.5k is going to a dealer instead of my car, but really... It's like cutting in line or beating the rush that MSRP dealers in CA or avoiding the hassle of going out of state to pick it up. And for me, driving the car home from OK or TX will probably be as much as their mark up by the time I stop for gas, food and lodging.. I like to eat during road trips! Also my Mom would have to come because she is a co-signer, so for the two of us to fly out and all it'll be about the same price. Also, we plan on doing some driving around this summer, don't want to get burnt out already, lol. I just hate that mark up really. I can do without making my own in exchange for the getting it now seeing how the car they are expecting I like and would probably make anyway, but I hate that mark up.
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Replying to: gopguyca (Apr 13, 2005 3:20 pm) All your posts make it sound like you're conflicted, which is even more of an indicator that you shouldn't make any quick decisions. Here on the east coast, the wait is 2 months. Is the whole west coast subject to the 6 to 9-month wait? If not, try Nevada, Oregon, Arizona, etc. Besides, when it comes time to pick it up, Greyhound bus really isn't that expensive  . Also, if you buy out-of-state, and are worried about not having a free loaner car from the local dealer, think about the following... The average loaner car is about $25 per day from your average rental agency. Let's say your MCS is at the local dealer three times a year for whatever reason (let's hope not, considering the oil change is every 10K miles), and you have the loaner car overnight until you get your MCS back the next day. It's cheaper for you to pay $150 a year in loaner car fees than it would be to pay an extra $1500 markup to get the car now. It would take ten years of three overnight visits per year to equal the CA dealer markup. Also, chances are better a loaner would be available from a third party, considering the small number of MINI dealers and, consequently, the high number of vehicles being serviced per dealer. Is this making fiscal sense to you? Another, more patience-testing option is to order within California, save yourself the mark-up, wait 6-7 months, and in that time, have accumulated enough savings for a 8 or 9K down payment. That'll get you closer to your $300/month target. Honestly, if you can afford a 6K down payment right now (most people can't), AND you recognize the fact that all that money is considered gone if you lease, then I can't see how you would justify leasing. Just BUY the d  mn car. Well, I can't think of much more to say that would convince you to buy up-front. It sounds like you want your Cooper S NOW, and you're willing to go the exorbitantly more expensive "lease-to-buy" route. I'm rooting for you whichever path you take (because it's a MINI), but if a line is drawn in the sand, I step over to the BUY side. Good luck. |
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...what everyone is saying. But I do not have a car, period. Going out of state isn't bad especially looking at it from this new perspective you offered regarding the costs of getting a loaner car on my own from Enterprise.. From that perspective, you're right, the loaner car at the dealer at times of service isn't much of a reason to justify the mark up. Especially considering the fact that I surely hope my Mini only needs service for oil changes, lol. But I do need a car now, and not just me but my family. It's going to be my first car and it really isnt' mine exactly but more like the families. We have a huge SUV which just guzzles down gas and we are having to go over the hill every day it seems, the SUV is costing us too much in gas. Also we need another car. My brother is about to start driving and we don't have enough cars for us to get around as I have a job and my brother is about to have a job as well. We need the other car. If it was just me getting a new car or wanting a secondary car... Sure, we can wait. But the fact is we need another car and I need a car period. Fortunatly for me my Mom is going to help out some because we do need another car in the family and something more cost effiecient compared to our SUV. Personally.. I would much rather take that 1.5k and get additional options such as DSC and the better headlights with the chance of an adventure -- Going to pick up my Mini and driving it home. But my Mom isn't overly crazy about that as she sees it more as a hassle rather than an adventure, though she doesn't mind it at all if we got it in OKC, which is possible as their wait is onyl 3 months, but the fact still remains that we do need another car. We also went over the possibility of financing if we put down 6k for a 60 month term through USAA... I forget how much the payments are but they are around the same price if we lease with a 3k down payment. But we came to the conclusion that we really can't afford to put down that much. So we are just going to lease with a 3k down payment. I know it's a rip off whether we buy out in the end or not but it's really the most easiest option for us at the moment. I thank you for your input though and adding that new perspective, I never looked at it from that angle.
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Replying to: gopguyca (Apr 14, 2005 12:06 am) I reviewed your post about a 4.84% check for a car loan. Is that limited to a 60 month term? If not, you could put down 3K, finance for 72 months, and end up paying almost exactly the same per month as you would pay for a 60 month term w/ 6K down payment. Run the calculations. Try any online loan calculator. Definitely an incentive to buy in my book. |
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Replying to: gopguyca (Apr 14, 2005 12:06 am)
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Replying to: akitadog (Apr 12, 2005 10:13 pm) If the automakers don't crank out more hybrids soon, the best we will see is more small cars, gasoline-powered, along the same lines as the Mini - euro-inspired, compact, better gas mileage. That in itself will give the Mini competition. So I don't see this car as having any lasting value in the future. But I didn't buy mine to resell at some later date. I'll probably keep mine until gas is too expensive. I already ride a bicycle almost everywhere anyway. I have considered selling my car and getting a hybrid but have ruled that out for the immediate future.
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The Mini has great value now but look at some of our dealers here in CA... Mark ups and huge waits. Around the rest of the country there aren't many dealers. Of course they are worth money now. But at the same time, there is speculation of Mini changing the Cooper too much with the 07 models. Sure, I can always get a Mini at a later time, but if the speculations are true -- Such as the Mini getting bigger -- I won't be able to. From some of the photos of how the new Mini's interior may look, also something to be worried about. Very ugly and unappealing. Doesn't look as friendly as the Mini does now. And with the size.. One of the main attractions to the Mini is it's small size. In that regard, the current Minis could very well turn out to be classics. Also the dealer at my Mini place said that BMW isn't going to make any more factories to manufacture them, meaning the overall number of them world-wide will remain limited -- Not sure on how true that is coming from a dealer but eh! The Mini's value can go either way as there are several factors to look into but I really think it's going to lose the value. Right now they are extremely trendy.. Give them a few more years to let that wear off. Also, there is no competition. There is no other small car in the N American market to compete against the Mini. Those who want a small car have no other place to look other than the Mini. But if they do change alot in the 07 models then our Minis now will more than likely hold some value. As for future cars.. In 2010 they are supposed to be releasing hydro-powered cars. And hybrid cars now.. Either car manufacturers aren't trying on their appeal -- Such low HP on them and ugly designs -- or they are incapable of upping the HP and other functions. I don't know. Either way, I'm sure hybrid/electrical cars will eventually gain some appeal.
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Replying to: gopguyca (Apr 14, 2005 11:49 pm) kirstie_h Roving Host Host, Future Vehicles & Smart Shopper discussions |
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Replying to: greyscale (Apr 14, 2005 9:49 pm) Also, hybrids aren't the savior we need for internal combustion. I think diesel will soon be just as much a player in the US as it already is in the rest of the world. And the fact that corn can be turned into biodiesel (but not gasoline) means that the ic engine is not as doomed as you or some may think. Imagine the boon to the global farming industry when a diesel engine can run on pure biodiesel. It will happen. Every ic engine in the world will run on it and the ic engine will live on in diesel form. Oh yeah, I plan to keep my MCS until one of us dies. If gas gets too expensive, I'll convert it to a diesel and keep on trucking.
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Replying to: akitadog (Apr 15, 2005 10:10 am) and I thought you were gonna say" I'll take it with me and convert it to a coffin !" Now that would be a statement to the end. LOL Biodiesel is the way of future cars in US I think too and will help revive our farm industry to boot ! 
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