Comments on: MINI E – Passed the First Hurdle! http://www.mpgomatic.com/2009/01/26/mini-e-passed-the-first-hurdle/ where gas mileage matters Wed, 17 Mar 2010 12:47:10 -0700 http://wordpress.org/?v=2.8.5 hourly 1 By: Scott http://www.mpgomatic.com/2009/01/26/mini-e-passed-the-first-hurdle/comment-page-1/#comment-2193 Scott Wed, 11 Feb 2009 01:52:57 +0000 http://www.mpgomatic.com/2009/01/26/mini-e-passed-the-first-hurdle/#comment-2193 I would expect to find as Mike did, that any attempt to cost-justify the lease or tell yourself that it is somehow a practical plan is fruitless. You are paying for the opportunity to try out a cutting edge car for a year. That being said there is obviously a reasonable limit for the total cost so that is something I will be doing the math on as things proceed. Right now I am past the lease and insurance approvals, next step is to check out the electrical situation and see what it will take to get the charging box working in the garage. I was pleasantly surprised by the insurance quotes- my current carrier quoted approx $250/ year to add the Mini, and Mini's carrier actually quoted me less to insure both cars than I am paying now for my current car. That's with apples-to-apples coverage limits, etc. I am quite curious as to whether field trial applications will open back up. I have to think that a large number of applicants will pass when faced with the total cost of ownership. I think it's a shame from a marketing and R&D point of view, because the cost is too high to get a true cross section of drivers. I would expect to find as Mike did, that any attempt to cost-justify the lease or tell yourself that it is somehow a practical plan is fruitless. You are paying for the opportunity to try out a cutting edge car for a year. That being said there is obviously a reasonable limit for the total cost so that is something I will be doing the math on as things proceed.

Right now I am past the lease and insurance approvals, next step is to check out the electrical situation and see what it will take to get the charging box working in the garage.

I was pleasantly surprised by the insurance quotes- my current carrier quoted approx $250/ year to add the Mini, and Mini’s carrier actually quoted me less to insure both cars than I am paying now for my current car. That’s with apples-to-apples coverage limits, etc.

I am quite curious as to whether field trial applications will open back up. I have to think that a large number of applicants will pass when faced with the total cost of ownership. I think it’s a shame from a marketing and R&D point of view, because the cost is too high to get a true cross section of drivers.

]]> By: Mike http://www.mpgomatic.com/2009/01/26/mini-e-passed-the-first-hurdle/comment-page-1/#comment-2180 Mike Mon, 09 Feb 2009 02:10:41 +0000 http://www.mpgomatic.com/2009/01/26/mini-e-passed-the-first-hurdle/#comment-2180 I got called last week, but I'm not sure if I want to try to afford it. With my current car paid off, the $850/month is daunting ($10,200 for the year!). The dealer told me I have a week or so to decide to go for the second step (credit check). I'm in NJ (near the Morristown Mini dealer). I really wish this wasn't such a hard decision. My math and assumptions... My commute is exactly 100 miles daily (clocked last week) with 20 working days a month. I'm ignoring weekend driving for now. That's basically the full charge of the Mini-E I also checked my electric bill and it's $0.12/kWH So, 30 kWH each charge x $0.12/kWH = $3.60 per day or $72/month for electricity I get about 22 mpg with my car (I know I know) so that's about 91 gallons/month ((100/day x 20 days) / 22 mpg) Even though I know it's low, I'll use a conservative $1.75/gallon (super) = $160/month for gas My gas calculation made it $160/month, so I'd save about $88/month or $1056/year. In summary.... Mini-E Lease/Maintenance: $850/month x 12 = $10,200/year Electricity: $72/month x 12 = $864/year Insurance: TBD, but could be ~$600/year + alternative insurance which I would drop down for a weekend-only instead of commuting ($800?). Mini-E ends up being about $1048/month Current Car Lease/Loan/Cost: $0/month + $800 Maintenance/year = $800/year Insurance: $1103/year Gas = $160/month x 12 months = $1920/year Current car ends up being $319/month That's about $730/month difference or an extra $8760/year. Even if I subtract out my $1056/year savings on gas, I end up with $7704/year. Ouch. There is a $7500 tax credit, but it affects everyone differently due to the AMT, etc. Good luck! I'll probably be forced to pass. I got called last week, but I’m not sure if I want to try to afford it.
With my current car paid off, the $850/month is daunting ($10,200 for the year!).

The dealer told me I have a week or so to decide to go for the second step (credit check). I’m in NJ (near the Morristown Mini dealer).
I really wish this wasn’t such a hard decision.

My math and assumptions…
My commute is exactly 100 miles daily (clocked last week) with 20 working days a month. I’m ignoring weekend driving for now.
That’s basically the full charge of the Mini-E
I also checked my electric bill and it’s $0.12/kWH

So, 30 kWH each charge x $0.12/kWH = $3.60 per day or $72/month for electricity

I get about 22 mpg with my car (I know I know) so that’s about 91 gallons/month ((100/day x 20 days) / 22 mpg)
Even though I know it’s low, I’ll use a conservative $1.75/gallon (super) = $160/month for gas

My gas calculation made it $160/month, so I’d save about $88/month or $1056/year.

In summary….
Mini-E
Lease/Maintenance: $850/month x 12 = $10,200/year
Electricity: $72/month x 12 = $864/year
Insurance: TBD, but could be ~$600/year + alternative insurance which I would drop down for a weekend-only instead of commuting ($800?).
Mini-E ends up being about $1048/month

Current Car
Lease/Loan/Cost: $0/month + $800 Maintenance/year = $800/year
Insurance: $1103/year
Gas = $160/month x 12 months = $1920/year
Current car ends up being $319/month

That’s about $730/month difference or an extra $8760/year. Even if I subtract out my $1056/year savings on gas, I end up with $7704/year. Ouch.
There is a $7500 tax credit, but it affects everyone differently due to the AMT, etc.

Good luck! I’ll probably be forced to pass.

]]> By: ctd http://www.mpgomatic.com/2009/01/26/mini-e-passed-the-first-hurdle/comment-page-1/#comment-2126 ctd Mon, 02 Feb 2009 18:45:36 +0000 http://www.mpgomatic.com/2009/01/26/mini-e-passed-the-first-hurdle/#comment-2126 I was just contacted Friday by my local dealer saying I was chosen and if I wanted to move forward with it. I'm on the fence, just because $924/month (including tax) plus liability insurance doesn't seem all that attractive anymore. I was just contacted Friday by my local dealer saying I was chosen and if I wanted to move forward with it.

I’m on the fence, just because $924/month (including tax) plus liability insurance doesn’t seem all that attractive anymore.

]]> By: Scott http://www.mpgomatic.com/2009/01/26/mini-e-passed-the-first-hurdle/comment-page-1/#comment-2111 Scott Fri, 30 Jan 2009 10:06:08 +0000 http://www.mpgomatic.com/2009/01/26/mini-e-passed-the-first-hurdle/#comment-2111 Interesting post. I applied from CA. My nearest dealer called to ask if I was still interested in the Mini E, and emailed me only the credit application. He said they were collecting all the applications from potential Mini E owners who had passed the initial application process and would submit them together. I was alerted by my credit monitoring service a couple of days ago that BMW checked my credit. That's all I know for now. Interesting post. I applied from CA. My nearest dealer called to ask if I was still interested in the Mini E, and emailed me only the credit application. He said they were collecting all the applications from potential Mini E owners who had passed the initial application process and would submit them together. I was alerted by my credit monitoring service a couple of days ago that BMW checked my credit. That’s all I know for now.

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