Finty
MINI

MINI 4.99% Comparison Rate Consumer Loan - New MINI All Models

SecuredFixed rate

MINI Consumer Loan is designed for customers purchasing a MINI primarily for personal use. With a fixed interest rate and no account-keeping fees, it offers a simple and predictable way to finance your vehicle. MINI Financial Services Australian Credit Licence 392387.

Written byDavid Boyd
Interest rate a year, from
4.99%
Comparison rate, from
4.99%
Establishment fee
None
Monthly fee
None
Borrow
$25,000 to $63,400

Monthly repayment

$30,000 over 3 years

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What it would cost

At the lowest published rate of 4.99%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$899
Total repayments
$32,364
Interest
$2,364

Loan details

Rates

Interest rate (a year)
4.99%
Comparison rate (a year)
4.99%
Rate type
Fixed
Security
Secured

Limits and fees

Loan amount
$25,000 to $63,400
Loan term
Up to 3 years
Establishment fee
None
Monthly fee
None

How it compares

Against the other secured car loans we compare. Typical means the middle half of them.

Comparison rate

4.99%

From 4.99%. A typical loan starts at 7.99%.

Setup fee

None

A typical setup fee is $258.

Monthly fee

None

A typical monthly fee is $8.

Most you can borrow

$63,400

Typically you can borrow up to $130,000.

Longest term

3 years

7 years is the usual longest term.

Pros and cons

Pros

  • A lower starting rate. Its comparison rate starts at 4.99%, below the typical 7.99%, and the comparison rate counts the standard fees too, so it's a fair guide to a lower overall cost.
  • One rate for everyone. Everyone approved gets 4.99%, so the rate you see is the rate you get.
  • No setup fee. Nothing is added to the loan on day one, so you only pay interest on what you borrow.
  • No monthly fee. The cost doesn't creep up the longer you take to repay.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.

Cons

  • A lower limit. Up to $63,400, less than the typical $130,000, so it may not cover a larger purchase.
  • Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
  • An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.

Similar loans

Secured loans from other lenders that start at a similar comparison rate.