I looked into financing a mini cooper, and they are offering low interest rates now (1.7% till end of the month)
and it seems like it is cheaper to buy a new base price mini than it would be to buy a used one with low miles. Mainly because of the financing deal (which is for new cars only). I have never bought a new car, I always thought it was stupid. I have always thought slightly used cars were a much better deal. But minis seem to have a very high re sale value, and I am thinking I should just go for it. Does anyone out there have any advice for me?
Sounds like you are doing your homework. On the other hand, the sale price of used cars is very negotiable. Also, financing through something like a credit union is pretty reasonable. So, why not search a bit more for loans, then make a very low offer on a used Mini. You might be surprised.
You may be able to get a better deal by financing through your bank or credit union. I believe that you have to pay MSRP to get the low rate, so it isn’t as good as it looks. You can negotiate a loan on a lower principal at the credit union, allowing to you to have a higher annual percentage rate (APR) for an equivalent monthly cost. The rates will be lowest for a new one, and you will get a better warranty for a new one. Not total miles, but the spread between the miles at purchase and the expiration miles.