Buying a used Mini with hire purchase (HP) car finance

Mini is a British automotive brand known for its iconic design, fun driving dynamics, and premium features.

At AutoMoney Motor Finance we can help you secure HP car finance on a used Mini within minutes.

What’s more we can complete your deal the same day, so you can drive home with your chosen Mini model straight away.

Apply now for HP car finance

Complete your details via our online form.

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Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

Contents

Want to know more about buying a used Mini?

If you’re considering purchasing a used Mini, here’s a detailed look at what you should know about its strengths and weaknesses:

Strengths of Mini

  1. Iconic design:
    Mini vehicles are instantly recognisable due to their unique and stylish design. The brand maintains a retro charm while incorporating modern elements, making them stand out on the road.
  2. Fun Driving experience:
    Minis are known for their go-kart-like handling and sporty performance. Their responsive steering and nimble handling make them enjoyable to drive, particularly in urban settings.
  3. Premium interiors:
    The interiors of Mini cars are crafted with high-quality materials and distinctive design elements. They offer a premium feel with attention to detail, comfortable seating, and user-friendly controls.
  4. Customisation options:
    Mini offers a wide range of customisation options, allowing buyers to personalise their vehicles with various colour schemes, trims, and accessories. This makes each Mini unique to its owner.
  5. Advanced technology:
    Recent Mini models come equipped with advanced technology features, including infotainment systems with touchscreen displays, smartphone integration, and a suite of driver assistance systems.
  6. Compact size:
    Mini's compact size makes it ideal for city driving and parking. Despite their small footprint, many models offer surprisingly good interior space and versatility.
  7. Strong resale value:
    Minis generally maintain strong resale value due to their desirability and distinctive appeal. This can be beneficial if you plan to sell the car in the future.

Weaknesses of Mini

  1. Maintenance costs:
    Mini vehicles, being part of the BMW Group, can be expensive to maintain. Parts and service costs are typically higher than for non-premium brands. Be prepared for potentially higher running costs, including insurance and repair bills.
  2. Firm ride quality:
    While Minis offer excellent handling, some models have a firmer ride quality, which might not appeal to all buyers. It's important to test drive the car to ensure you’re comfortable with the ride.
  3. Limited cargo space:
    Due to their compact size, some Mini models, particularly the classic Mini Cooper, have limited cargo space. If you require a lot of storage, you may need to consider larger models like the Mini Countryman.
  4. Fuel efficiency:
    While generally good, the fuel efficiency of some Mini models, especially those with turbocharged engines, may not be as high as that of other small cars. Consider the ongoing fuel costs based on your driving habits.
  5. Interior space:
    Though cleverly designed, the interior space in some Mini models can feel cramped, especially in the back seats. Ensure the space meets your needs, particularly if you frequently carry passengers.

Tips for buying a used Mini

  • Research specific models:
    Popular models like the Mini Cooper, Mini Countryman, and Mini Clubman each have unique characteristics. Research specific model years for any common issues or recalls to ensure you make an informed decision.
  • Check service history:
    Ensure the vehicle has a comprehensive service history. Regular maintenance by authorised Mini service centres is a good indicator of a well-cared-for car.
  • Inspect for wear and tear:
    Look for signs of wear and tear, especially on high-mileage models. Pay close attention to the condition of the interior, electronics, and suspension components.
  • Consider certified pre-owned:
    Buying a dealership-certified pre-owned Mini offers benefits like extended warranties and rigorous inspections, providing added peace of mind.
  • Evaluate running costs:
    Factor in potential running costs, including insurance, road tax, and fuel consumption, to ensure the car fits within your budget. Minis generally have reasonable running costs, but it's important to be prepared for premium maintenance expenses.

Overall, a used Mini can offer a stylish, fun, and premium driving experience, with strong resale value and unique customization options. By doing thorough research and inspections, you can find a high-quality used Mini that meets your needs and provides lasting satisfaction.

Buying a used Mini with HP car finance

One of the ways to buy a used Mini, if you do not have enough money to pay for it in full straight away, is to use Hire Purchase car finance (HP car finance).

This is where you ‘hire’ the Mini from us, spreading the cost of the car over monthly payments to us. These payments contribute towards you ‘purchasing’ (buying) the Mini from us at the end of the term of the borrowing, when you also pay a one-off “option-to-purchase” fee.

At this point you own the Mini completely and our contract comes to an end.

The pros and cons of HP car finance

Borrowing money to buy anything comes with risks, as well as rewards.

Buying a used Mini could be the right choice for you and an ideal solution to the practical challenges of getting about day to day. However, whilst a used car can be significantly cheaper than its brand new alternative, it still involves spending a lot of money.

When you borrow money, you need to make sure you can keep up with payments comfortably. You will have other bills to pay and necessary things to buy, so you don’t want to find that the payments on your Mini are leaving you short of money each month.

There are also other considerations when buying a used car and below we share the pros and cons, to help you decide if applying for HP car finance is right for you.

The pros

  • Drive away in a Mini today: with HP car finance you can get a Mini, even if you don’t have all the money for it right now.
  • Spread the cost of owning your Mini: cars are expensive, but are often an essential part of daily life. When you buy your Mini with HP car finance, you can pay for it gradually over time.
  • Manage your finances: HP car finance comes with a clear payment plan. You can easily compare what your finances will look like each month by taking away the money your Mini will cost you, alongside your other bills and costs, from your income to make sure it is affordable for you.
  • Decide how much you can afford each month: if you find the Mini you are looking at is too expensive per month, you can look at other options, with lower monthly costs.
  • Choose a term that suits you: you can repay over 3-5 years, which will impact the monthly cost to suit your monthly finances. Borrowing for longer reduces the monthly cost, but be aware it may increase the total amount you repay.
  • Own your Mini at the end of the term: If you keep up with your monthly payments, and can afford the “option-to-purchase” fee, you will own your Mini at the end of the term of your agreement.

The cons

  • Delayed ownership: You won't own the car until the final payment is made. Missing payments could result in your Mini being repossessed.
  • Depreciation: Used cars can lose value quickly. You might end up paying more than the Mini is worth over time.
  • Higher total cost: The total amount paid, including interest and fees, will be much higher than the Mini's purchase price.
  • Insurance requirements: Comprehensive insurance is required, which can be more costly.
  • Credit impact: Missing payments can negatively affect your credit score, making future borrowing more difficult.
  • Repossession risk: Failure to make payments can lead to the car being repossessed, possibly leaving you with outstanding debt.

Please make sure you read and understand your hire purchase agreement, maintain your car and ensure you can afford the payments before committing.

Why get HP car finance with AutoMoney Motor Finance?

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  • Get a finance decision within minutes

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  • Complete the same day

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  • Enjoy world class customer service

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Ready to apply?

We hope you found the information on this page useful. If you are now ready to apply for HP car finance with us, we’d be pleased to help.

Get started with an application using our online form:

Get started online

Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

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