MINI Select, our personal contract purchase product, is our most popular car finance product for new and used MINIs.
We defer a portion of your MINI’s value to the very end of your finance agreement, which becomes your optional final payment. This final payment is your MINI’s Estimated Future Value and it’s based on what we think your MINI will be worth when your finance ends.
MORE MINI FOR YOUR MONEY
As you are deferring a proportion of the car’s value until the end of the agreement, your monthly payments could be less than you think. This may give you the flexibility to add more options to your MINI, or upgrade to a higher spec model, all within your budget.
HOW IT WORKS
Simply choose a MINI you like and we’ll arrange a finance package that suits you, depending on how long you want your contract to last (usually between 24 and 48 months), your annual mileage and your deposit. Whether you have a monthly payment or particular deposit in mind, we can rustle up a repayment plan to suit your budget and lifestyle.
The Estimate Future Value lets you keep your options open at the end of your agreement. Your choice will be based on the future value of the car, which is why it’s important that your mileage estimate is spot on. Depending on what the market value is when you come to change your car, you have the flexibility to choose from one of the following options:
- Pay the optional final payment and own your beloved MINI*
- Part-exchange your MINI for a shiny new one**
- Hand your MINI back***
In options 1 and 2, if the value of your car is more than what we predicted for you in the Estimated Future Value, you get the benefit.
If the Estimated Future Value does not meet the market value, you are covered by the guarantee in the third option, do not have to pay the final payment, and can hand your MINI back to us. However, your choice will need to factor in any extra charges relating to excess mileage and the condition of your car, which will influence the final market value.
TERMS AND CONDITIONS
* The optional final payment (and an option to purchase fee) are payable at the end of the agreement if you decide to purchase the vehicle. We remain the owner of the vehicle during the agreement and we may become entitled to recover the vehicle if you do not keep up your repayments.
** If you part exchange the vehicle for a new MINI, any surplus in the vehicle’s part exchange value over the optional final payment (and option to purchase fee) can be used as a deposit towards a new MINI.
*** If the vehicle’s value is less than the optional final payment, you can hand it back to us without paying the optional final payment. However additional charges may be payable for both excess mileage (actual mileage higher than agreed contract mileage) and vehicle condition (using the standards set by the British Vehicle Rental and Leasing Association (link to BVLRA vehicle condition guide). If your agreement is regulated by the Consumer Credit Act, this contractual option will be in addition to your statutory right to end the agreement early.
Finance is subject to status and available to over 18s in the UK only. Guarantees and indemnities may be required. Advertised finance is provided by MINI Financial Services, Summit ONE, Summit Avenue, Farnborough, Hampshire, GU14 0FB.