So, My CMS All4 is en route and I need some advice from fellow owners as financing, leasing, or doing MINI Select.

I have always financed cars and gotten good rates, but I went through a divorce which damaged my credit. I ran my score through Experian and it came back 702, but when MINI ran it through BMW, I came back approved for "Standard plus". I was told that 700 was the base approval rate for BMW financial, but I'm guessing my Experian quote was off. It's prolly somewhere between 650 and 680.

I guess it doesn't really matter since MINI isn't offering any good financing rates on 2013 Countryman's, so I'll have to go through a bank or a credit union if I do traditional finance.

I have never leased because I always kept cars forever and I drive a lot. But that was back in college... Now, I have owned a 2001 Honda Accord, 2009 MINI Copper S, and a 2007 BMW 3.0SI Coupe in the last 9 years... This will be my 4th car. In all honesty, I wanted to keep my MCS, but I had my midlife crisis at 35 and got the Z4 because it looks like the Batmobile. Regardless, this will be my 4th car in 9 years.

I have a round trip commute to work of a whopping 2 miles. So mileage because of commute isn't an issue, but, let's face it.... Whe nwe get in a MINI, we find ourselves going on needless trips and taking the long way home because it's so much fun to drive. I put 20,000 miles on my MCS in one year. So i worry about having to stay under a certain amount of miles.. However, I like the idea of not having to worry about a warranty expiring and having a lower payment. Then again, I have to turn it in and have a new car payment in 3 years... Advice?

Traditional finance is great, but because of my lowered score, I might be looking at 4-5% and if I finaance , I want to do it over 72 months and get the extended warranty and maintenance so I have most repair bills covered and no mileage constraints. I really do plan on keeping this car for awhile. Then again, the payment is higher and I may get the bug for a new MINI in a few years before this is paid off... Advice?

Lastly, I am intrigued by MINI Select because it allows for a lower payment, but doesn't have the mileage limits. Of course, there is the large balloon payment at the end where you either pay the balance, refi the balance, or trade it in if you have any equity in it - that being said, to maintain equity in it, I would have to keep the miles down and keep it in good working order as well as comsetic upkeep as well. That won't be a problem, but the mileage might be...

The reason why I liked the MINI select is because I get the lower payments, but I have a target monthly payment in mind. I religiously paid a certain amount over every month on all of my cars and it did make a difference on the residual. Even several months later, when it said my monthly regular payment was $409 but the payment due was $198 because I paid more down, I still sent off $500. That's what I was wondering here with the MINI Select. I'm no financial genius and I've heard many claim that it's a scam because it sounds too good to be true.

If I were to pay the additional 50-100 a month on the regualr payment every month, would it make a significant difference? Or would I need to be paying 200-250 more a month which would be about the same as traditional finance?

I just need some words of wisdom here from fellow motorers...