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MINI Cooper Lease Questions

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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?
  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,876
    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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    Prices Paid: Buying & Leasing Experiences Forum
  • 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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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!
  • 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 - Prices Paid, Lease Questions, SUVs

  • 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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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?
  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,876
    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 - Prices Paid, Lease Questions, SUVs

  • 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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