However, things are different now and MINI has added some good incentives — in the form of low-interest loans on all models and a good lease deal on one model.

Let’s take a look at the current (until April 30, 2009) incentives.

Low-interest loans – 1.9% APR for 24 or 36 months, 2.9% for 48 months, and 3.9% for 60 months. These rates have been improving every month since February. Could the rates get better next month? Maybe. Maybe not. If the current promotion works well, the incentives might continue, as is, or be withdrawn. If it doesn’t work, it’s possible that we’ll see some 0.9% or even 0% loans on the shorter loan terms (24 and 36 months).

MINI executives are saying, interestingly enough, that the low interest rates are available not just to people with great credit but also to people who have borderline sub-prime credit scores. We don’t know exactly what score they use, but this is an unusual stance to take on such incentives and can be a good opportunity to people who have had trouble getting even normal loan rates recently.

Lease deal – MINI has introduced a good lease deal on the base model coupe (not convertible).  Here’s the details. $265 a month for 36 months, 10K miles allowed annually, $300 security deposit (returnable at lease-end), and $2764 due at signing, of which $2199 is down payment (cap cost reduction). First month’s payment, security deposit, and fees are included.

If you want to understand how leasing works and how to avoid mistakes, see our LeaseGuide.com web site.

You can get free price quotes on the MINI Cooper from Edmunds.com. The quotes will automatically include any cash-back rebates or discounts that are currently available.

You k now of course that in order to qualify for these low loan rates, you must have a good credit score and be approved by the dealer’s finance company.

Here’s the new 2009 MINI Cooper deal:

• 1.9% APR for 24 and 36 month loans
• 2.9% APR for 48 month loans
• 3.9% APR for 60 month loans

Considering that the national average new-car loan rate (36 months) is 6.87% (Bankrate.com), the 1.9% rate on the MINI is a great deal. The national average for 48 month auto loans is 7.10%, compared to 2.9% for the MINI.

You can get free price quotes on the MINI Cooper from Edmunds.com. The quotes will automatically include any cash-back rebates or discounts that are currently available.