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MINI Cooper Lease Questions

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  • Oops. I really have problems getting the MSRP right. Just one of those days. Basically it's the Mini Cooper hard top 2dr hatch back auto trans with the premium package. So, 21700 MSRP. I'm also seeing that the invoice is 19595. I want to put 0 down. So after reading through numerous post I am guessing.

    21700 MSRP
    19595 invoice
    36 month lease, 10k / year = 70% residual factor
    money factor of 0.0023

    750 dealer incentive
    725 aquistion fee

    adjusted cap = 21170 (19595 + 750 + 725)
    residual value = 15190 (21700 * 0.70)

    Total monthly payment before tax: 249.74 [(21170 + 15190) * 0.0023] + [(21170 - 15190)/36]

    7% tax: 17.48

    Total: 267.22

    Am I doing this right? Is this a fair price to ask a dealer 267.22 / month 0 down?

    Thanks in advanced for your help!
  • texgastexgas Posts: 7
    What is the current money factor and residual for a lease on a 2009 MINI Cooper S, for 12K and 15K miles per year? Thanks in advance.
  • hey guys my mom leased a cooper 06 and it has about 11k miles on it. the lease was up and she decided to purchase the car now the ac is messed up. The bill of sale that she signed unfortunately says the car has been sold "as is". Doesnt the car have to be covered anyway under the original 3yr 36k mile warranty or is she screwed? thanks
  • Since it 2009 your 3 year is up. Now if your mom leased it late in 2006 you might have some warranty left. Now I also have a 2006 Min with a non working AC. I brought it into my own mech. and he filled the AC. Now it works GREAT!. Good luck
  • Hi there,
    Am interested in leasing the mini hardtop , with all the add ons I want, the MSRP is about $22,000. Went to one dealership and they wanted about $3500 at sign and about $260 a month for 36 months and 12,000 miles a year. From what I read here, this is a very bad deal.

    Could you please let me know, with as much info possible,
    1) what would be a good deal,
    2) what should be the total down payment (bank fees act..) and the monthly charge? Can I get lower than the $249 add?
    3) I was told (by the agent) that with Mini you cannot negotiate the price, they use the MSRP.
    4) Please be kind and give me as much information as possible, since I do not have any prior knowledge about leasing.

    Thanks much!
  • minookaminooka Posts: 6
    I dread talking to the finance person and still thinking I'm just going to suck it up and buy so I'm not caught at the end of the lease.

    But I want to be prepared; anyone have current money factor and residual values?

    I'm going to call there today and see if I can at least get the going purchase interest rates.
  • minookaminooka Posts: 6
    To clarify, I've ordered a Cooper S. If it makes a difference, it's a manual transmission with the sunroof package and no other add ons.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Here's the information that you're looking for, texgas. The current buy rate lease money factor and residual value for a 36 month lease of a 2009 Mini Cooper S with 15,000 miles per year are .00225 and 63%, respectively. The residual value for a lease with only 12,000 miles per year would be 2% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks for all the great info already on this thread!

    I'm about to order a Clubman S and looking at a 10k mi/yr or 12k mi/yr lease.

    Car_man, you mentioned that the rates are different for each model, do you have the current rates for the Club S? Also, does anyone know for sure if these rates can be locked in on a car that is ordered? And lastly it seems like they may be transitioning to the 2010 model year--does that mean completely new rates?

    Thanks so much in advance, glad a forum like this is around.

    Jonathan
  • Hello Car Man,
    I am about the pull the trigger for the Cooper Hardop with MSRP of $22,700.
    Could you please let me know what would be a good price for leasing, 3 years, 15K a year? minimum downpayment
    Thanks much, Ben
  • Hi Car man, thank you for the info. My ordered 2009 Mini Cooper S won't come until Sept 21. Are the lease numbers for Sept different than August? Thank you in advance.
  • You're very welcome, Jonathan. I'm glad that you find this discussion so helpful. Mini's September buy rate lease money factor and residual value for a 36 month lease of a 2009 Cooper Clubman S with 12,000 miles per year are .00220 and 62%, respectively. The residual value for a lease with only 10,000 miles per year would be 1% higher.

    BMW allows consumers to lock in a lease program on a vehicle that they are ordering, so I don't see why one wouldn't be able to do so on a Mini. Having said this, I doubt that one can order a 2009 Cooper any more. Any order would have to be on a 2010 model, which doesn't have any lease support on it yet.

    The standard lease program on the 2010 version of this car isn't that bad though. The numbers for an otherwise identical lease on a '10 model would be .00250 and 61% (36 mo., 12k).

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hello Ben. Mini's current buy rate lease money factor and residual value for a 36 month lease of a base 2009 Cooper Hardtop with 15,000 miles per year are .00200 and 62%, respectively.

    As far as a down payment on your lease goes, I always advise consumers not to put money down when leasing. Lessees who make down payments on their vehicles risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. You can and should go with a zero down lease. Even though it means that your monthly payment will be a little higher, it will be much safer.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • No problem, texgas. This car's September lease program is slightly different. Its Sept. buy rate lease money factor and residual value for a 36 month lease of an '09 Cooper S with 15,000 miles per year are .00205 and 60%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I have a limited amount of money monthly right now and own a beautiful motorcycle that I don't want to trade in so leasing seems like a good idea since I take such good care of a car. My mileage is regular to less than 12,000. Am I crazy or can one lease a MINI for 240 per month? A 2009 is fine but like the convertible S model. All the extras don't matter at this time. Any advice from experience out there? I am in northern ca.... I was thinking since I only will drive it winter months I could go used like a 2003? A MINI owner freak about the car says don't buy under 2005 they had problems... ?? Help
  • zoranzoran Posts: 68
    I am in market to order 2010 mini coupe ,can u please help me with sept lease rates for 3 years/30k miles lease? thanks
  • Hi 2003vrod. I bet that I can guess what bike you own ;). In your post you mentioned that you are interested in leasing a Mini for $240 per month. Interestingly, that's close to the advertised payment that Mini is touting right now (sometimes it appears on the right side of this page in the add). Mini is currently promoting a $249 per month lease on a base Cooper Hardtop. Of course, this lease requires a $1,000 down payment and your monthly payment would be higher if you are in a state that charges sales tax (which unfortunately most of us are :)).

    Unfortunately, you definitely will not be able to lease a Cooper convertible for $240 per month. You certainly will save money by going with a used car, but you will not be able to lease a used one. You would have to finance it instead. Plus, used Minis actually tend to hold their value fairly well.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi zoran. Here's the information that you're looking for. Mini's current buy rate lease money factor and residual value for a 36 month lease of a base 2010 Mini Coupe with 10,000 miles per year are .00250 and 64%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Considering the Owners Choice financing option -- I'm seeing a residual of 57-58% on Clubman S and Clubman. Two dealers gave me same information -- this is in Texas. 12,000 miles per year. Any thoughs on this is accurate? Is this set by Mini Financial?
  • zoranzoran Posts: 68
    thanks a lot car_man! Hugely appreciated. May I ask for Coupe S? same lease parameters?

    Btw do you have access to new prices/packages/options for 2010? and When cars will be in show rooms?
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