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MINI Cooper Lease Questions

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  • Hi midnightblue. Mini has indeed published a lease program for the Countryman. Mini's December buy rate lease money factor and residual value for a 36 month lease of a 2011 Countryman S All4 with 12,000 miles per year are .00225 and 61%, respectively.

    The residual value for a lease with only 10,000 miles per year is 1% higher.

    Car_man
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  • dad2bedad2be Posts: 57
    What are the official money factors / residuals for a 2011 base Cooper hardtop? I'm finally thinking about selling my '99 Wrangler and saw a recent Mini advertisement for a base Cooper that got me in to the showroom. The deal is for the base model with Automatic and Premium package - MSRP of $23100. The payment is $199/mo with $2328 down plus $200 security deposit. The residual is listed at $15708, or 68% of MSRP. Trying to run these figures through the online calculators and it looks like the money factor is 0.0012, but that seems low compared to previous posts.

    My real question is that I want a model without an automatic and without the premium package. Are the money factors/residuals different for manual vs. automatic? Found one at the local Mini dealer with MSRP of ~$21000. Was expecting either a lower down payment or a lower monthly payment, but they told me the special was only for the automatic, and the payment may be higher for the manual. Does this make sense?

    Thanks.
  • dad2bedad2be Posts: 57
    Forgot to include some important terms of the lease - 36 months and 10k miles per yer.
  • fgaz1fgaz1 Posts: 14
    Hey carman...going to war here in the next couple days ( with the dealer that is) . need to know mini money factor for top tier and residual for clubman s for 36 month lease....10,000 a year. also....i am aware that most dealers are not discounting countrymans....but most are discounting the clubmans..is there a sell price to work towards while trying to figure lease...my clubman s total will be 33.000....thanks in advance for the help with numbers....Freddy
  • Greetings dad2be. Mini's December buy rate lease money factor and residual value for a 36 month lease of a base 2011 Cooper Hardtop with 10,000 miles per year are .00170 and 60%, respectively.

    The transmission that this car has does not have any impact upon its lease program.

    Car_man
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  • Here you go Freddy. Mini's December buy rate lease money factor and residual value for a 36 month lease of a 2011 Clubman S with 10,000 miles per year are .00160 and 58%, respectively.

    Car_man
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  • Car_Man,
    Very sorry ... but when I run these Countryman lease numbers I come up with a seemingly crazy monthly payment ($600+). Have never leased before but I think I know how the calculation is done. I am assuming a MSRP around $31k. Thanks for setting me straight (if you can).
  • Hi again Car_man,

    Well my 2011 Countryman S All4 has just been unloaded from a carrier in NY and I expect to pick it up late this week or early next week.

    When do the December lease rates expire?

    When do you expect January rates to be published?

    Still looking at 36mos lease with 10K or 12K miles per year and would like to know captive lease rates (residual percentage and money factors).

    Thanks again for all of your help!
  • I'll be picking up my 2011 MINI Countryman S ALL4 early next week and I will be leasing. I''ve read a few things on this forum that I would like someone to corroborate if possible. I want to make sure I get the skinniest deal possible on leasing especially considering I am paying full MSRP for the car.

    So, can anyone confirm the following in regards to leases from MINI Financial:

    Acquisition Fee
    I have been quoted an Acquisition Fee of $925. Is it true that the dealer cost is actually $725 and dealers are permitted to mark up the fee by as much as $200. Are people getting this for $725?

    Acquisition Fee Waiver
    MINI will waive its Acquisition Fee entirely in exchange for an increase of .00035 in the money factor.

    Security Deposit Waiver
    MINI will waive its security deposit requirement in exchange for an increase of .00015 in the money factor.

    Seems to me that the Acquisition Fee Waiver is a no brainer if the dealer insists on $925 but if you can get it down to $725 it is not as good a deal.

    Anyone have direct experience with this?
  • kyfdxkyfdx Posts: 27,923
    Everything you've stated is true...

    However, if you do the math, you'll probably find that you are better off paying the acquisition fee, even if it's marked up...

    Also, if they are marking up the fee, you can bet they are marking up the money factor, as well...

    Also, you'll come out ahead making the security deposit, rather than taking the MF waiver bump.... you get the security deposit back at lease end..

    regards,
    kyfdx

    MODERATOR
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  • If the acquisition fee holds at $925, the it makes more sense to pay the incremental money factor as the difference in payment will amount to less than $925 over 36 months.

    The dealer has agreed to use the buy rate money factor but has not yet responded to my request on the $725 acquisition fee nor have they confirmed that their is an acqusition fee waiver.

    I agree that the security deposit waiver does not make sense financially.

    May I ask what your source is in case my dealer disagrees?
  • Dealer also states that in PA there is sales tax (9%) on the Acquisition Fee. Anyone else charged sales tax on the acquisition fee?
  • kyfdxkyfdx Posts: 27,923
    edited January 2011
    You know... I just did the math, and you are correct... the waiver bump is more advantageous at $925. I guess I'm used to working with the higher numbers on BMWs...

    Of course, now the dealer will want to make up that extra $200, somewhere... lol..

    I don't have a source that you can quote... The waivers are pretty common knowledge, and I'm certain I heard it from a BMW sales professional...

    Almost all states tax the acquisition fee... and, tax on leases is 3% higher than the regular sales tax in PA.. Of course, if you use the waiver, your payment will be higher and that will be taxed... so, they've got you either way, there...

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Car_man,

    Any chance you have the Jan '11 rates on a 36 mo/15k for the Cooper S hardtop, Clubman S and Countryman S?

    Not sure which I can afford!

    Thanks in advance!
  • chchoichchoi Posts: 37
    MSRP 22850
    Cooper Base (red)
    auto trans
    Roof
    Bluetooth

    Selling price 21965.11. I have a trade in with 1805.48 to deposit.
    Monthly payment is 255 (with 9.75% tax) MF .0017. Residual is 68% (3 yr lease with 10k/yr).
    Is this a good deal?
  • cohyecohye Posts: 2
    Midnightblue what did you end up aggreeing to on the countryman money factor? ... I would really like to go countryman but more than likely I will end up going w/ the clubman since as little as 2% on the money factor can translate to $40 more a month. Thanks
  • I got the buy rate money factor of .00225. Also was able to waive the $925 acquisition fee by bumping the money factor another .00035. This bump turns out to be less than $925 over the life of the lease plus saved me from having to pay PA sales tax on the acquisition fee.

    The money factor is fairly high but typical for a new model that is in demand.
  • Hey ajsoven. Let's crunch some numbers and see what we come up with. According to my calculations, if you were to lease a 2011 Mini Countryman S All4 that has an MSRP and a selling price of $31,000 through its captive finance company right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $449.

    Car_man
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  • Hey midnightblue. Mini's January buy rate lease money factor and residual value for a 36 month lease of a 2011 Countryman S All4 with 12,000 miles per year are .00225 and 61%, respectively.

    The residual value for a lease with only 10,000 miles per year would be 1% higher.

    Car_man
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  • Hi norealpoint. Mini's January buy rate lease money factor and residual value for a 36 month lease of a 2011 Cooper S Hardtop with 15,000 miles per year are .00180 and 59%, respectively.

    The numbers for an otherwise identical lease of a 2011 Clubman S are .00180 and 59%.

    The numbers for an otherwise identical lease of a 2011 Countryman S are .00225 and 59%.

    Car_man
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  • Countryman S All 4 -- How about rates for 24 months, 10,000 miles?
  • trir3trir3 Posts: 1
    Car_man
    I was just at a dealer and lease info given to me was
    AF-895
    MF- 0.00220
    RV- 59%/15k and 61%/12k
    Does this mean that the dealership has "bumped" the AF and MF
    Forgot 2011 Clubman S
    Thanks
  • Hi all,

    I'm new to this forum and have leased several BMW's and know the ins and outs of that, but this is the first Mini lease I've worked on. I was at Nick Alexander Mini today and had an annoying experience--the salesman quoted the wrong money factor and residual and after some back and forth we decided to do a little more homework and check on some things. So here's what we came up wit in the negotiation:

    2011 Cooper S Hardtop, Laser Blue w/sport, armrest, ipod/bluetooth, moonroof--MSRP $27,200.

    We pre-negotiated to $26,200 on phone.

    At 10K miles, with $725 acquisition fee rolled in and .00215 MF, payment was about $390
    At 12K miles, with $725 acquisition fee rolled in and .00215 MF, payment was just over $400

    residual is .62 for 10K and .61 for 12K (last months were .65 and .64 so we missed out). Based on the residual and money factor the dealer quoted, we expected the payment to be closer to $350, but I'm thinking we can get closer to invoice and that will help.

    Any thoughts on what a good negotiated price on this car should be based on the $27,200 MSRP? I saw a poster who went to the same dealer recently and got a $28,200 MSRP car to $26,000, or $500 over invoice and I'm thinking of going back and saying we'll do the deal at $25K or thereabouts.
  • Currently on my 2nd BMW Financial Services Lease (2009 7 Series) - I am in Good Standing with BMWFS
    About to finance a Mini Countryman -- Does my good track record with BMW Financial Services help in my deal with Mini Financial Services -- (i.e. any prefered rates, finance rate reduction, etc)?
    Thanks!
  • kyfdxkyfdx Posts: 27,923
    MINI Financial Services = BMW Financial Services.. They are the same company..

    So, your good credit experience with them will certainly carry over.. Not sure about any loyalty bonuses or MF reductions, though..

    MODERATOR
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  • Hello drivenow. Mini's current 24 month, 10,000 mile per year buy rate lease money factor and residual value for a 2011 Countryman All4 are .00225 and 70%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • Hi trir3. I believe that Mini's base acquisition fee is the same as BMW's...$725.

    Mini's January 36 month buy rate lease money factor for the 2011 Clubman S is .00180. If the dealer tries to charge you more than that, they likely are marking your vehicle's money factor up.

    Car_man
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  • After reading that the MF on the Countryman was .00225, I proceeded to my dealer to lease my car that I had ordered and had just arrived.

    The sales manager told me that there was no such money factor. He said MINI's MF for the countryman was .00280, period.

    I had little leverage as I had placed a down payment on the car months before (I was told that they would offer me the standard rates when it was time to make the deal.)

    Was I ripped off?
  • kyfdxkyfdx Posts: 27,923
    edited January 2011
    Maximum mark-up of .0004 and security deposit waiver add of .00015 = .0028

    Not surprising... "standard" rates means they mark-up the money factor for everyone.... or, it means whatever they want it to mean..

    MODERATOR
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  • Getting the buy rate is predicated on top tier credit as well. If your credit is outstanding, you should be able to get the buy rate so long as your dealer doesn't insist on marking it up.

    For the record, I obtained the buy rate on my Countryman (.0025) plus was able to secure the Acquisition Fee waiver for an adder of .00035 as I recall.
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