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13Shopping the lease-trade websites, the lease payments for such a car would be well within my means. I could afford to put down 6-9 lease payments up front on a lease with 18-24 months remaining on the term. But any financing agency evaluating my credit rating just by the score is going to reject me. Does BMW FS just plug the numbers into a rules 'bot for credit evals or is there a way to get the application reviewed by an approval officer?

In a sane world a lessor about to get stuck with a depreciated lease-return would at least look twice at someone willing to pay a third of the remaining lease up front, but dealing with credit agencies is anything but sane.

45,974The bank (BMWFS) has no such interest, once the deal is completed. If anything, they will be

morestringent on a lease assumption.regards,

kyfdx

MODERATORPrices Paid, Lease Questions, SUVs

4Before I go into a dealership and start working into this, is it possible for somebody to tell me what to expect as a lease price on something like this?

2010 Cooper Hatchback - Base w/automatic transmission ($21,000)

10,000 miles per year, 36 month lease term

0-down, all taxes and fees rolled into payment.

Just make first month's payment when picking up.

Any ball-park price somebody could give me would help when going in to negotiate on one of these... just so I know what to expect.

Thanks!

21I am looking to lease a 2010 Mini with the specs below. They have given me pricing and I wanted to get your thoughts. This is with 1.9% financing.

Thanks!

SPECS:

Model1010 Cooper HTUSD 18,800.00

ColorA67 British Racing Green metallic paint500.00

UpholsteryT6E4 Leather Gravity Tuscan Beige1,500.00

OptionsZAH Anthracite headliner250.00

ZCW Cold Weather Package500.00

313 Power folding mirrorsN/C

314 Heated mirrors and washer jetsN/C

494 Heated front seatsN/C

ZPP Premium Package1,750.00

403 Dual pane panoramic sunroofN/C

534 Automatic climate controlN/C

674 Harman/kardon premium soundN/C

1CA CO2 relevant vehiclesN/C

205 STEPTRONIC automatic transmission1,250.00

2RL 15" alloy wheels, rotator spokeN/C

345 Chrome line interior250.00

383 Roof and mirror caps in blackN/C

473 Center armrestN/C

481 Sport seats250.00

4A6 Interior color Tuscan BeigeN/C

4A7 Color Line Dark GreyN/C

4AA Anthracite headlinerN/C

4AU Extended Decor RingsN/C

4BD Interior surface Piano BlackN/C

6NE Comfort Bluetooth and USB/iPod adapter750.00

Net Total25,800.00

Destination Charge700.00

Gas Guzzler TaxN/C

Total Suggested Price26,500.00 + tax

PRICING:

24 months:

12K miles a year

1078.78 down payment

535.68 + tax monthly

2500 down

475.29+ tax monthly

5000 down

369.04 + tax monthly

_____

36 months:

12K miles a year

955.41 down

423.01 + tax monthly

2500 down

378.52 + tax monthly

5000 down

306.51+ tax

38,515Car_manHost

Prices Paid: Buying & Leasing Experiences Forum

38,515The prices that you listed in your post all look like this vehicle's MSRP. While the dealer margins on Minis are not huge, I suspect that you will be able to negotiate some sort of dealer discount if you shop around. Plus Mini is officially offering some free options on this car right now. Have you tried comparison shopping yet? If not, you may want to see if you can beat this deal. If it is at full MSRP, as it appears, then you may very well be able to do so.

Car_manHost

Prices Paid: Buying & Leasing Experiences Forum

3I got a quote on a Mini Cooper Convertible today and I wanted to run it by you. I got a quote for $321.10/month + tax for a total payment of $350/month. This is for a Mini Convertible with an MSRP of $26200. The negotiated price on the car was $25200 with a residual of $12,886.00. They are asking for a total down payment of $4540. The lease is for 3 years with 36k miles. We love the payment of $350, but we were wondering if the down payment was high. Any info you can share if this is a good lease or not would be great.

Thanks!

3MSRP of $25K

36 Month

15K/year

$400-450 a month they said give or take!!! Whoa !

Then I asked what numbers they were using:

54% Residual

.00275 was the MF ???

Ehhhh, that's terrible and they didn't seem eager to want to come down from that.

31Any chance you've got the April lease figures for 24 and 36 months on a '10 Clubman with 10,000 miles/yr.

Thanks.

38,515The numbers for an otherwise identical 36 month lease are .00180 and 57%.

Car_manHost

Prices Paid: Buying & Leasing Experiences Forum

68Thanks Car Man

38,515I know that Mini has a lot of changes planned for the 2011 model year, including some engine improvements for the Coopers and the introduction of the new Countryman, but I'm not sure how much of a facelift the '11 Cooper will receive or when it will hit showrooms.

Car_manHost

Prices Paid: Buying & Leasing Experiences Forum

68thanks

25Clubman S, 3 year @ 15k miles per year?

Thanks

38,515Car_manHost

Prices Paid: Buying & Leasing Experiences Forum

38,515Car_manHost

Prices Paid: Buying & Leasing Experiences Forum

5money factor is .00210 + .00035(to waive lease acquistion fee of $725)+ .00015(to waive security deposit)= .00260

Does this sound right?

Thanks....

45,974But, do the math... With the MINI being under $30K, you may well save money by taking the waiver, rather than adding the acquisition fee... but, you get the security deposit back at the end of the lease.... Letting them keep your $400 for three years, then giving it back, will save you $6-$7 per month on your lease payment.. That's a pretty good return!

regards,

kyfdx

MODERATORPrices Paid, Lease Questions, SUVs

136 month/10k

$1500 drive off

$300/month incl tax

It seems like a good deal to me, but I'm an amateur at this! All opinions greatly appreciated!

20Does that sound right ?

Thanks!

32010 Mini - Auto; 16" spoke wheels; bonnet stripes; Bluetooth/USB; Moonroof; Destination charge ($700....

(MSRP = $23,100)39 mo lease

10k miles

$700 cash down

Trade-in value: -$1,300 (negative)

Residual value: 66%

Lease Money Factor: .00155

CA sales tax: 9.75%

MONTHLY PAYMENT = $330 (inc tax)603It's impossible to determine whether or not your payment was correctly calculated as you haven't provided enough information. For instance, I would need to know the sell price, amounts financed (i.e., capitalized)- is the acquisition fee capped? Is the negative equity capped? Other than $700, was there any other cap reduction? Is the moon roof dealer installed? If so, it probably can't be fully residualized meaning my residual value calculation (below) may be inaccurate. Basically, I need to have enough information to be able to determine the gross cap as well as the adjusted cap.

Here's what we know...

MSRP = 23,100

F = money factor = 0.00155

N = Term = 39

Residual Factor = 0.66

R = Residual Value = 0.66 x 23,100 = 15,246

Net Trade = -1,300

CA Tax Rate = 9.75%

PMT Inclu Tax = 330

Assuming the data is correct, the base payment is...

330/1.0975 = 300.68

Here's what we don't know...

S = Sell price =

A = Amounts financed (itemize) = 1,300 + ?

G = Gross Cap =

D = Cap reductions (itemize) = 700 + ?

C = Adjusted Cap =

Base Payment = F x (C + R) + (C - R) / N

Based upon the information you provided, coupled with some assumptions, I can determine all of the unknowns and, then, you can check your lease documentation and compare.

300.68 = 0.00155 x (C + 15246) + (C - 15246) / 39

Solving for C, I get

C = 24,565.89

C + D = G = 24,565.89 + 700 = 25,265.89

G - A = S = 25,265.89 - (1,300) = 23,965.89

Unless I know the exact values (not rounded or ball park), there's not much else I can do. It would also be helpful to know all costs paid upfront.

The two most imporant items in any lease transaction are the cost of money (i.e., money factor- always be sure you're getting the base rate if you qualify) and the sell price. Is $23,965.89 a reasonable selling price given that the MSRP is 23,100? That's about $866 over MSRP. This just doesn't look right.

Hope this helps.

John

3Thank you very much for your help. This is the 1st time I'm leasing a vehicle, so all of this is like 'new math' to me.

A few questions please....

1) A (amounts financed) = the selling price of the car + the negative equity of my trade-in. Is this correct?

2) So the total from the above = GROSS CAP? Is this correct?

3) Besides my $700 down payment, what else is considered a 'cap deduction?'

4) Is C (Adjusted Cap) = G - D?

*also the guys @ the Mini dealership said something about DMV fees + Bank fees which equalled over $1,000 (that was added to the cost). Does his sound right to you?

Thanks so much for your help.

603Selling price + Amounts financed = Gross cap cost

Amounts financed are items that your elect to finance in the lease and may consist of the acquisition fee, negative equity, taxes (if appropriate), dealer doc fee, etc.

Gross cap - Cap reductions = Adjusted Cap

Cap reductions may include cash down, trade equity, cash rebates, etc.

You may want to get an itemized breakdown of all the costs. DMV fees + doc fees + bank fee totaling over a $1,000 doesn't tell us very much.

DMV = ?

Doc Fee = ?

Bank Fee = ?

Total = ?

Also, it might be a good idea to create a one-page lease proposal on your letter head and FAX/email it to the dealer and negotiate via email/phone from your home/office. These are designed to save time, money, and aggravation. Above all, they're designed to put you in control of the deal; not the dealer. Never let the dealer control the deal. Here's an example of a lease proposal...

MSRP 2011Honda Pilot LX Automatic…… 28,755.00

Selling Price.........................................… 26,450.92

Amounts Financed (Capitalized)AHFC Acquisition Fee….......……………… 595.00

NY Sales Tax 8.875%...………………...…… 1,248.73

Capitalized CostsGross Capitalized Cost…………………..…. 28,294.65

Capitalized Cost Reduction…………..……. 0.00

Adjusted Capitalized Cost…………………… 28,294.65

Residual DataResidual Factor…………………………….. 0.59

Residual Value (Residual Factor × MSRP)… 16,965.45

Cost of Money/TermMoney Factor……………………............………. 0.00173

Term (months)…………………………………. 36

Monthly Lease Payment……………………. 393.00

Estimated Charges Payable at Lease OriginationDocumentation Fee………………………..... 75.00

Government Fees…………………………….. 217.50

Amount Due at Lease Signing…………….… 292.50

Fund Provider: AHFC

GAP Coverage: Included

Annual Mileage Allowance: 12k

Disposition Fee: None

Excess Mileage Charge: $0.15 per mile

NOTE: Monthly Payment = MF x (Adj Cap + Res Val) + (Adj Cap - Res Val) / Term

Questions? Please let me know.

John

3My head is spinning right now, LOL.

Here are some of the missing numbers:

-Sell price = $22,200

-Adjusted Cap = $24,700 (according to sales manager - don't know if correct though)

-Exact amount of negative equity on trade-in car: -$1,271.62

Bank fee = $725

DMV fee = $343

Doc fee = $55

Floor Mats = $119

Total = $1,242

Basically it's the lease special that Mini has running right now [http://miniusa.com/#/financialServices-m] but with$1,500 less down payment, additional $600 in car add-ons + additional $1,271.62 in negative equity of trade-in.

I'm just trying to figure out if the $330 per month payment is correct. Hopefully this helps.

Once again, thank you very much for all your help!

603questions...1) Exactly what charges are you paying upfront? This will tell me what's being capped and what isn't. Then, I'll be able to determine the adjusted cap.

(2) What is the adjusted MSRP? You said that you're getting a moon roof. Again, is that dealer installed? If it is and, for instance, it costs 1500, then only a percentage, say 80% or 1200, will be added to the base MSRP to get the adjusted MSRP for purposes of computing the residual value. The residual value is 0.66 x adjusted MSRP. I'm not so sure that 23,100 is, in fact, the adjusted MSRP used to compute the residual.

AnalysisHere's why I need this information.

If I compute the base payment given your information, I get

Base Payment = F x (C + R) + (C - R) / N

= 0.00155 x (24,700 + 15,246) + (24,700 - 15,246) / 36

= 324.53

In order to get your payment of 330, including taxes, the base payment would have to be 330/1.0975 = 300.68 not 324.53.

ConcernsObviously, something is wrong. Is the 24,700 adjusted cap wrong or; is the 15,246 residual wrong? Or, are they both wrong?

SolutionHere is what I suggest you do...

Please ask the dealer to email/FAX their computer generated LEASE WORKSHEET. That will tell me everything I need to know. Otherwise, we're just guessing. Besides, I really doubt that the 24,700 adjusted cap is correct and also have reservation about the 15,246 residual. I need exact numbers as ball park or rounded numbers will not work. Don't let them tell you that they can't give it to you because that's baloney.

You can email the LEASE WORKSHEET, if you like, to me at...

diffeq@zoominternet.net

John

4does anyone have residual values and money factor for july 2010?

36 or 39 mnths, 12k/yr

cooper

cooper s

not - clubman

thank you