Ok, so I'm probably being overly-fanatical about it, but I just can't help it! I've been eyeing up the cooper for a long time and almost ordered one back in august when my current car was giving me trouble... I would probably have one now if it weren't for the difference in price of a lease on the website and the price the dealer gave me. Good thing too! Because of that I found this place and posted some questions about leasing... and with some of the fine minds here at NAM I was able to determine that the lease really isn't right for my situation and I'll probably save myself a ton of money in the long run.

Anyway, I have a budget and can't spend more than $400 a month so I have figured the tax into the fees and whatnot also. Basically I have to get it in right at 25k as I will be putting down 10k and financing the rest for 48 months. I estimated 6.9% but hopefully I'll get lower. The point is, I want to get the options most important to me without any extra stuff. So let me know what you think. I won't be able to get my down payment money out of the CD until october 14, so maybe this will help me to iron out some stuff before it's ordered so I can avoid delays and know I did my research completely (not that I don't think I'll be second guessing myself until it's here)

so here are the specs I have worked out so far, what do you think?

2006 MCS HB/W, 6spd
Grey/black leatherette
Cold weather package (in PA this will be well worth it IMHO)
DSC
LSD
Front & Rear Fogs
Xenon Headlights
HB Dash & Trim
Dual Pane Sunroof (I toiled about it, but I think it'll be worth it for me)
MFSW
16" V-Spokes

the way I see it, I could drop the LSD and get the full premium and sport packages, but I'm not a huge fan of the s-lites... for only $300 I could get the auto a/c, but I really don't know if it will be worth it to me.

What does everyone think?

 

I get the idea that LSD is really good if you're racing, but that for street driving, it's not necessary.

I don't have my MCS yet (it's on the boat), and I ordered nearly every option under the sun, but NOT LSD.

My $0.02, since you asked.

 

For what its worth, I currently have an 03 MCS with just the Sport Package and the MFSW, but have been thinking about an 06. I was playing around with the configurator the other day and came up with nearly an identical car as yours except for the color and no sunroof. I have seldom used the sunroof over the years on the cars I have owned that had them and didn't much care for the extra weight. I think the options you picked provide the best components of the Sports Package without the S lites. The MFSW is an absolute must.

 

Keep in mind that if you want the majority, if not all, of the options in the Sport package, it's cheaper going the package route versus buying the items individually. If you don't want the S-Lites though, a $500 option I believe, then perhaps it won't be cheaper in your case.

Also, look around for financing rates. Here in Orlando there is a place that will do new car loans at 4.79% I believe.

Edit - You could always sell the S-Lites later, and perhaps recoup more than you spent out. Though perhaps the difference won't be worth the trouble =)

 

JD, for reference I do plan do do a bit of autocrossing when possible, but most importantly the LSD should help out in the snow... at least from what I understand. Anyone know if I'm correct about this?

That's what I was thinking. I really don't care for the s-lites because of the weight and that every MCS I've seen in person had them on. I also promised myself I'd never get another car without cruise... and I love gadgets so the radio buttons will be fun to play with too. The sunroof was on/off my list more times than I can count, but after going without one in my last car I found that the open roof is more to my liking.

 

That sounds like a nice spec to me. It's just about like the one that I have on order. With the exception of the dash, sunroof & DSC. I think you'll find the LSD is great for autoX & will be welcome in the snow. As far as the sunroof goes I think they are great, but the MINI's always has the sun beating down on you even when closed. That mesh net thing does nothing to stop the sun. If it had a solid cover I'd have bought it. As far as auto AC goes IMO it's not worth the cost. Many auto AC systems act like HAL in 2001. Make it 68 degrees HAL. "I'm sorry Dave I can't do that".

Here's my spec....

2006 Cooper S
HB/W roof & mirrors
Silver-Grey Black leatherette
Antracite dash
Convnience package
Cold weather package
Cockpit crono package
Multi-Function steering wheel
Limited slip Differential
Fog lights
Xenon headlights
Rear fog lamp
Chrome grille
V-spokes

 

My MC came in at $20,750 on the configurator. Add taxes etc and it was more closer to $22K.

Are you going Traditional Financing, Lease, or MINI Select? MINI Select or lease was the only way to get payments below $450. Trying to decide if tire warentey and extended warente are worth it! If we go with out them, payments might drop below the $400 range. We still have options untill the car arives and final paperwork begins. A chance to come up with more $$$ for downpayment!

 

I'm going with traditional finance. not sure if through miniusa or not... I'll try though my company credit union, but I'm not a member yet. I know personally I am planning on selling the car between 3 and 4 years in... if I find myself either a) not liking the next gen mini or b) able to afford 3 cars in the family I will think about the extended warrantee... but not at this point. I'm pretty sure you can always add one later. The main factor in getting the payment down below 400 was the 10,000 down payment.

That was the magic number to be able to get it under 400 a month for 48 months. that way it's got the warrantee the entire time I am paying for it.

 

FWIW, I did the same thing as you...I spec'd everything individually in the sports package because I didn't want the 17" s-lites. I knew that I would never take the time to sell the wheels (heck I haven't even gotten around to getting the runflats out of my basement that came off the 16s and they only have 500 miles on them). Anyway, I have never regretted it. One thing I really loved about this car was that you didn't have to get an entire package in order to get the options you want.

 

I would most definitely get the LSD.

I'm sure you're not thinking that far ahead, but as the price of these cars drops, the tuner/autocross market will pickup and the LSD will make your car much more desirable to potential buyers. Noone's going to say "I don't want a car without foglights", but there will be those saying it about the LSD.

Of course, I'd want one for myself as well.

Personally, I'd skip the sunroof, cold package and foglights. I never use my lights or heated seats. Then again, I'm not in that cold of a climate and my car lives in the garage.

 

Do you have or can you get a home equity line of credit? Even with rising rates (6+%), the after-tax rate (approx 4%) is often better than loans secured with the car.

 

I don't have a house... yet. so not really. I also have almost 0 credit... only had one credit card that I closed years ago and literally nothing else. I always thought having no debt was good... silly me! no worries, I've got an excellent co-signer in my dad... The house will come later... after the ring and inevitable wedding. I've got quite a bit saved up in CD's which is where the 10k down payment is coming from. I could buy flat out, but the car payment is something I'm going to use to build my credit.

 

good point about resale value... I will definately be keeping the lsd. Since I don't have a garage and live just outside philly I'll be very happy to have the heated seats in the winter. I also have a bit of a bad back, and the heated seats in my dad's range rover are absolutely amazing when the back is feeling sore.

As for the sunroof... that would be the first to go if I find out I need to cut the price a bit to hit my $400 limit after the taxes and everything. not sure what I'd add to it honestly... maybe the rest of the premium pack or something. or pocket the money and use it for new wheels or tires for next summer

 

Just added it up, and you only spend $200 more for the 17 inch wheels/tires when getting the whole Sports Pack (the rims/tires are a $600 option separately), versus getting the Sports Pack items minus the rims/tires. So if you were to shell out the extra $200, I'd imagine you could get $100 at least per rim+tire later on? If not more, Probably could get maybe $800-$1000+ for the set if the tires/rims were in like new condition? That'd leave you with an extra $600-$800 to buy something else you wanted.

Btw, what's the official lug pattern on a Mini? 4 X ??? And what other popular cars share that same spacing/pattern?

 

When it comes to Credit, it is all about the FICO scores and the debt to income ratio. Debt in itself is not a bad thing. It is the amount of debt that will kill you. Especially when purchasing a home. You may have a 720+ FICO score but if your debt to income ratio is too high you will not get the loan.

Credit cards are a must. Especially when it comes to buying a home. It shows the lender that you can responsibly use credit. Each month that you make a payemnt you improve your FICO scores. A closed credit card, or any other line of credit can actually decrease your FICO score. The trick is to have a card or two and only use them. Buy something and then pay it off over 4-6 months maximum. Then buy something else.

The card to actually have is the American Express card (not Blue). It reports like any mastercard or visa, but you pay it off in full every month. Keeps you out of that intrest trap. But AMEX cards are quite EXPEN$IVE and are the most difficult to get.

The car payment is a good idea. It will build your FICO score over the 4 years that you will pay the loan. But once it is paid off, those FICO scores start dropping.

Co-Signers are another issue. Big risk for those who are Co-signing. And it ties the two credit histories together. Which means that you can actually hurt one another

 

I know that the 17" wheels are only $200 more with the package but I really don't like them and would just sell them. Originally I was thinking I would just sell them on ebay and buy v-spokes to use for my winter wheels... BUT I've been seeing v-spokes going for the same and sometimes more. Basically I'd be spending $200 and having to go through hassle (and be open to getting screwed on ebay) and probably end up spending the same money to have the v-spokes... which I could have for $200 less if I just order it that way. I'm not sure what wheels or tires I want for the summer, but since I'll be taking delivery in december I will have plenty of time to figure it out. That said, if there is a good reason to get the s-lites I will... that's the beauty of being able to discuss this before I order it

The mini bolt pattern (and that of most vw, audi and japanese cars) is 4x100mm. I am not sure what the offset is though.

 

Thanks for the advice. I'll look into gettin an AMEX card... it sounds like it's right up my alley and will help me while functioning a lot like my visa check card (which is pretty much all I've used since they came out years ago). I never buy anything I can't pay for anyway... I always thought it would be easy to just go in and get a house with a nice big down payment and high salary with no debt... but I must have slept through the classes on FICO in college... or just figured it wouldn't effect me because I didn't need to buy things on credit. as for co-signing, my dad has awesome credit and could only help my credit a lot. I know I could hurt him, but I will be having the money come out automatically so I can't miss a payment... and he also said if it ever came to a point where I was going to be late he would cover me to keep the payment from going late. Hopefully my nonexistant credit won't drag him down at all... but he's willing to help and I'm sure he's aware of all of the risks.

again, thanks for the advise. I'm a business guy not a finance guy so all I am used to worrying about is if there is more money than expenses... I'm thinking I may go see my dad's financial advisor before I do this also just to confirm I'm on the right track with everything.

 

The fee for an AmEx card is at least $50 per year; definitely not worth it if you have good financial discipline, as theroyalwe seems to. I have my no-fee Mastercard set up to pay off every month from my checking account, which I imagine most credit card companies offer as a no-cost option.

As far as options go... the sunroof is pricy, but absolutely worth every penny. And the auto A/C is certainly expendable. I had it on my 2003 Cooper, but I'm much happier with the manual dials on my 2005. I had forgotten what it was like to have a climate control system that actually does what I want it to! I don't need my car at a constant 66 degrees or whatever; I can take the two seconds to adjust the dial on my own, thanks. And the fan only runs at jet engine speed when I actually want it to, not every time I want to redirect air or defog a window.

By the way, theroyalwe - great username!
"That had not occurred to us, Dude."

 

> 2006 MCS HB/W, 6spd

given.

> Grey/black leatherette

not a bad pick. hard choice between this & space cloth

> Cold weather package (in PA this will be well worth it IMHO)

no brainer. we are already using the seat heaters....so nice!

> DSC

I think this one is a no brainer as well...esp since you can turn it off when you want.

> LSD

how could you not buy an LSD if it is available?!? KEEP THE LSD!!!

> Front & Rear Fogs

again, a given!

> Xenon Headlights

you could save money here...but again, this is a really nice option if you ever feel like driving at night! We love ours...

> HB Dash & Trim

We bought an 05 to avoid the $200 surcharge. On the right colors...this is hot. Could save $$$ here, but why?

> Dual Pane Sunroof (I toiled about it, but I think it'll be worth it for me)

coming from convertibles, the sun roof was a must for us.

> MFSW

at that point, what is the difference in the prem pack?

> 16" V-Spokes

not a bad rim....i would not buy the heavy S-lites.

the way I see it, I could drop the LSD and get the full premium and sport packages, but I'm not a huge fan of the s-lites... for only $300 I could get the auto a/c, but I really don't know if it will be worth it to me.

the Auto AC is nice...i could live without if i had too. Sunroof & MFSW are a must, making the Prem an easy pick.

I agree with the Sport package...we bough everything in it but the S-lites, and will be selling the X-lite rims as well! Bought new 16x7 rims, had the dealer swap tires pre-delivery. Wife liked the look of the S-lites, i hated the weight, she hated the looks of the X-lites. Bought ASA JH6's....everyone is happy!

what about 5 year financing?

-jac

 

5 year financing is a double edged sword. You lower payments true. But you pay more in interest payments. And unless you purchase the extended warenty, you are paying longer on the car than the warenty covers the car.

IMHO Still a good option

 

As for the whole premium pack or not... The difference between just the sunroof and MFSW or the entire thing is $300. Basically it's like getting the OBC for free, but I'm not sure how close I'll be after any additional fees. The theory is that if I add in the tax (6% or $1500 on 25k) then all of this adds up to around 394 so I have a little bit of wiggle room for fees and such. The difference at that point is around $3 per month for each hundred additional. If I can get a lower interest rate I may add the rest of the premium pack... but most likely I'd add the chrome line interior first. Theoretically if I can get lower than 6% on the loan then I could get both for $399... but some of this will have to work itself out after the order has been placed.

At least most people here on NAM understand what I'm going through. my girlfriend thinks I'm being **** about this and told me to just order whatever... but my Dad always told me to figure out how much you can spend and don't go over it unless it's absolutely necessary. I guess I don't value the a/c or OBC highly enough to make it necessary

 

Oh, and my major aversion to financing longer than 4 years is that the warrantee will be up. I could get an extended warrantee after 4 years, but at this point there are so many things in my life that will probably change by the end of 4 years that I'd prefer to get it paid off by then. My major fear has been having a car that I'm still making payments on break down and having to pay for the repairs also. I tend to plan everything out before doing it and paying a few hundred unexpectedly would really bother me. (then again, getting a credit card will probably ease that worry). Hopefully I'll be able to keep this car long after the financing is over, but I'd like to be in a position to put the full residual value of the car towards another if I can't afford 2 cars of my own at that point.

 

Question about the Auto A/C..... you do have control over the fan speed, as in, you can over-ride it's automatic functions if you want to correct?

Like, if it's blowing too hard, you just lower the fan speed, or if it's not blowing enough, you can crank it up?

What are some other advantages/disadvantages over the regular versus auto a/c.

And please, don't try too hard to make me feel like I wasted $300 on the Auto A/C, or I'll have to call my MA again and have her change my order AGAIN =P Unlikely =P I was kinda hoping the Auto A/C performed better than the reg A/C, as here in Orlando, FL I want the best A/C I can get =)

Oh, and what was that noise?? Did you hear it? Oh! I know! It was me shifting into 2nd gear.... Varoooooommm!! Sweet website =)

 

based on what I've read in the owners manual you should be able to adjust all of that stuff when it's in non-auto mode. It's just easier to turn a **** if you want to do it that way. I'm sure some people like their auto-a/c and some probably could do without it. I used it in one of the cars I took a test drive in and it was nice and cold... I just have no problem messing with the temp controls myself and fine tuning them as conditions change

that said, my girlfriend (who has no idea on drivers etiquette) doesn't understand that the climate control and radio systems are solely the driver's responsibility unless delegated to the passenger. Then again she also thinks she should control the passenger side window when she's driving and has caught my arm 3 times . Oh well :P