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MINI Cooper Lease Questions

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  • I'm looking at a Mini Hardtop base model, trying to decide to pick up an older 2009 or order a 2010... and trying to decide between 12,000 and 15,000 miles. Do you have the current residual/money factor numbers for 2009/2010 15/12k by any chance Car_man?
  • Car man,

    Question: What is the base residual and MF for a 2010 Cooper S at 10K miles/yer?

    Also, are there any options that would boost that residual (for example quattro audi A4s have higher residual %s than non quattros)? I.E. what is the ideal optioned 2010 Cooper S for lease purposes?

    Is the MF ever affected by the options on the car?

    THANKS IN ADVANCE
  • MINI and BMW don't treat options differently for leasing...

    Major trim lines... such as base, "S", convertible, Clubman have different programs, but if you are getting a MINI Coupe "S" model, the residuals and money factor only vary by term and mileage allowance.

    (You'll have to wait for Car_man for the actual MF/residual numbers)

    regards,
    kyfdx
    Host-Prices Paid Forums

    Moderator - Prices Paid, Lease Questions, SUVs

  • Just got an offer for a 2009 Black Mini Cooper Hardtop with auto transmission, $3000 total down with monthly payments of $298 + tax based on a 36 month , 10,000 miles per year traditional lease. Is that offer good? Or could it be better?
  • I dont think thats a very good deal at all. Right on the Mini website for a 2009 Cooper Hardtop they are running a $259/mo lease for 36 months + tax. And thats 12,000 miles per year, and the car has auto transmission plus one package (premium, convience etc). Plus the down payment is just $1500 lol. They are really trying to rip you off on that one, and with that much better deal right on the Mini website its pretty ballsy.

    Unless the car has more options/packages than you mentioned that are raising the MSRP? We'd need to know the exact car but for just a base Mini hardtop with just auto transmission its a bad deal.
  • Can anyone tell me if this is a bad deal or not? I'm a first timer here, so very unsure! Offer is for a 2009 Mini Cooper Automatic Transmission, with premium package, blue tooth, bucket seats, racing stripes, silver metallic paint.

    MSRP is $23,800.
    Residual is .62.
    15,000 miles / year
    Acquisition fee of $900
    Gov't fees and taxes of $1572
    $400 security deposit

    Offer: $389.69/month, $1200 down (includes 1st month payment).

    What do you think I should be paying? Thank you so much for helping a first-time leasee!
  • Use this lease calculator:

    http://www.leaseguide.com/calc.htm

    If you read above you should be able to find out the money factor (interest rate) on the lease you want. Then you'll have all the info you need to see what your payment should be. You can also check the invoice price of a mini with the options you want, and see how much the lease would be if they sold it to you AT INVOICE. Then I'd use invoice plus maybe $500 as a starting point for negotiating and possibly work your way up to $1000 above invoice as the end number. Remember taxes are added on a per-month basis with a lease.

    Car_man, any chance for the residual and money factor for a 2009/2010 Cooper Hardtop for 12 and 15k miles/yr? Pleeeeeeeease :)
  • zoranzoran Posts: 68
    Hi Car_Man,

    We have decided to step up to Cooper S 2010 to be ordered for End of December. Could u please verify that lease rates fir 2010 S are same as you quoted or diff? Possibly October rates will apply.
  • You're very welcome, zoran. Mini's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Mini Cooper S with 10,000 miles per year are .00205 and 63%, respectively.

    Car_man
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  • I'd be happy to help you out, jnook1. Mini's current buy rate lease money factor and residual value for a 36 month lease of a base 2009 Cooper with 15,000 miles per year are .00200 and 62%, respectively.

    The numbers for an otherwise identical lease of a 2010 model are .00225 and 61%.

    If you were to lease either of these cars with only 12,000 miles per year, their residual values would be 2% higher.

    Car_man
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  • Hello criticald. Mini's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Cooper S with 10,000 miles per year are .00225 and 61%, respectively.

    As Kyfdx mentioned, the addition of options has no impact upon this car's residual values (other than John Cooper Works).

    Car_man
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  • Hi frankiep_bsny. $3,000 is a lot of money to pay at signing on a lease. I assume that a decent chunk of that money is being used as a capitalized cost reduction. I always advise consumers not to make cap cost reductions on leases. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, you would be much safer going with a zero down lease.

    As far as how attractive this deal is, I would be happy to give you my opinion on it...however it would be much easier for me to do so if you would provide us with this car's full MSRP and approximate selling price first.

    Car_man
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  • Welcome wizzledizzle. I find that the best way to tell if a lease is a good deal is to look at the selling price that it is based upon. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell how large a discount the dealer is giving you and in turn whether there is likely any room left to negotiate. Let us know what this car's selling price is and I'm sure that either myself or another helpful community member will be happy to let you know what they think,

    Car_man
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  • Hey jnook1. Please see my answer to your question in post #274. Thanks.

    Car_man
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  • Are there any specific programs right now for the Clubman? The normal Cooper is too small for my family (I'm 6'11") and we need to fit kids in the rear seat. Are any of the lease numbers any different than what you've been posting over the last week? And are there any different tax outcomes onn buy versus lease?
  • Hi sevenfeet0. I didn't like the Clubman at first, but it has really grown on me to the point that I think that it's cool now. Holy Toledo, I just noticed that you said that you're nearly seven feet tall. Have you tried sitting in a Clubman? I haven't driven the Club, but I have driven a normal Mini Cooper and I don't see how you would be able to fit comfortably in one.

    Anyhow, here's the information that you're looking for. Mini's October buy rate lease money factor and residual value for a 36 month lease of a base 2010 Cooper Clubman with 15,000 miles per year are .00225 and 61%, respectively. The numbers for an otherwise identical lease of a 2009 model are .00210 and 61%.

    Car_man
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  • Hey car man. Would you agree that it is smarter to lease a mini rather than buy because of its crappy reliabilty. If you see that the car is gonna give you alot of problems in the next three years than turn it in. If it is doing well than buy it rather than buying it and regreting it later. If something goes wrong with the car while its lease, does the dealer have to fix it free of charge? I saw in a sample contract from leaseguide.com that if anything goes wrong with the car than the owner is responsible for it. I thought the point of leasing is to not worry about repair charges while you own it? Also, is it a good deal to get to lease a 10 mini s for total lease payment of $10,840 in new jersey? Thank You.
  • joesaojoesao Posts: 16
    Hi Car_man, I would appreciate your help with the residual and money factor for a 2010 Cooper S w/ 10k mile lease. I saw that you replied twice to this question before but the numbers you gave were different.

    To criticald you replied: .00225 and 61%, respectively.
    To zoran you replied: .00205 and 63%, respectively

    What are the latest numbers?

    Thanks for your help!
  • Hi jeffrey12341. If you are really concerned about the reliability of the Mini that you are interested in getting then it definitely wouldn't hurt to lease. By doing so, assuming that you go with a 36-month lease, you will be covered by the manufacturer's warranty for the duration of your obligation to the car.

    Minis actually lease fairly well, they have reasonable money factors and very strong residual values. I would be happy to work up a sample lease payment on the exact car that you are interested in for you if you provide me with its full MSRP and approximate selling price, or at least its MSRP and invoice price. You can find this pricing data over in the New Vehicle Pricing section of this site.

    Car_man
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  • Hi joesao. Here's the latest info for you. Mini's November buy rate lease money factor and residual value for a 36 month lease of a 2010 Cooper S with 10,000 miles per year are .00170 and 61%, respectively.

    :shades:

    Car_man
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