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MINI Cooper Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome jccs. There's some sort of adder for higher credit tiers. I'll have to see if I can find out what it is.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'm glad that you've found this discussion so helpful, rrrosenfeld. Mini Financial Services' May buy rate lease money factor and residual value for a 36-month lease of a 2013 Clubman S with 15,000 miles per year are .00125 and 60% for consumers who qualify for its top credit tier.

    The residual value for a lease with 12,000 miles per year are 2%.

    There is a $500 cash incentive on leases of this car right now.

    Car_man
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  • rydog79rydog79 Posts: 4
    Hey Car_man!

    You've helped me yremendously over the years and I thank you!

    I am hoping you can send me residual value and money factors for both the clubman s and hardtop s for the 2013 model year, 15K/year and manual trans.

    Thanks again!
    Ry
  • brooke09brooke09 Posts: 5
    Hi!

    I'm looking for the residual value and money factor for a base Mini Cooper Hardtop with automatic trasmission for 36 months and 10K miles per year.

    Thanks!
  • seejenflyseejenfly Posts: 1
    edited June 2013
    Hi Everyone,

    This is my first lease and I've read the 10 tips guide (after visiting the dealership unfortunately). I'd like to get the real low-down on Mini before I move forward as I'm not getting favorable terms right now.

    Looking for a 3 year, 15K mile lease in Texas. Current offers are an Owner's Choice discount of $750 and a recent grad discount of $500 for a total of $1250 sell price. Additionally the current offered residual is 58%.

    I visited a dealership and have started a conversation with one of the sales guys but am not having a very good experience with him. He's made some very condescending comments towards me, some vulgar comments in general, and also claims that there is zero room for negotiating the sell price.

    Is this true for leases? I've heard different stories that I need to get the sell price down and then negotiate the lease. And then I've also heard that Mini doesn't negotiate like traditional car dealers so there's little room for flexibility especially in leases (unless they're trying to push old models out and will give you some options at cost if the color you want isn't available etc.)

    Would like some answers:

    1. Can you negotiate in a lease? If so, what items? Sell price or options or both?
    2. Should I go in implying I'll buy the car and get the sell price down, and then at the end request to lease at the lower sell price?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited June 2013
    Hey Ry. You're welcome.

    Mini Financial Services' June buy rate lease money factor and residual value for 36-month lease of a 2013 Mini Cooper Clubman S with 15,000 miles per year are .00125 and 60% for consumers who qualify our top credit tiers.

    The numbers for an otherwise identical lease of a 2013 Hardtop S are interestingly exactly the same.

    There's a $500 cash incentive on the Clubman S, but nothing that I'm aware of on the Hardtop.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi brooke09. Mini Financial Services' June buy rate lease money factor and residual value for a 36-month lease of a 2013 Cooper Hardtop with 10,000 miles per year are .00125 and 66% for consumers who qualify for its top credit tiers.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited June 2013
    Hi seejenfly. One can definitely negotiate the selling prices of leased vehicles. Having said that, Minis in general don't have a ton of room to negotiate because there is not much of a spread between their MSRPs and dealer invoice prices. You can see how much room there is by visiting the New Vehicle Pricing section of Edmunds.com.

    I'm not a big fan of lying in life or negotiations. If I wanted to get a new Mini I would just flat out tell the dealer that I'm going to lease and that I want to negotiate the selling price, just as if I was purchasing it.

    By the way, it sounds like this is not a great dealership. If there's another Mini dealer in your area you may want to try dealing with them instead.

    Car_man
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  • ken117ken117 Posts: 196
    A vulgar and condescending sales person is telling you something. That person is telling you he has no respect for you as a customer. He is likely exhibiting the sales philosophy of the dealership. In any case, purchasing or leasing a vehicle from that dealership will most likely be a mistake.
  • ihitcowsihitcows Posts: 45
    edited June 2013
    Hiyahey. Hoping to get the residual percentage and rate for a 36-month lease on 2013 MINI Cooper S Convertible. 12k/year.
    Many thanks!

    EDIT: Just noticed that MINI's lease program runs from the beginning of May 'til the beginning of July. The numbers would still be 57% and 0.00125? Thanks again.
  • Looking to lease a fully loaded 2012 Roadster S with Auto trans. Car Man - can you provide me with the rates that Mini is offereing right now? I think the factor is 0.00125, just not sure on the residual. Any / All help is greatly appreciated!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey ihitcows. According to the latest information that I have seen, the May lease program is indeed still available in June.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi cmccarthy7. I can give you the information for a lease of a 2013 model, but I don't think that Mini is providing support on leases of 2012 models any longer. At least I haven't seen a lease program for a 2012 Roadster recently.

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  • Car man. Just a typo. Meant 2013. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Wow that was fast cmccarthy7. That makes sense. Mini Financial Services' June buy rate lease money factor and residual value for a 36-month lease of a 2013 Roadster S with Auto trans. and 15,000 miles per year are .00125 and 56% for consumers who qualify for its top credit tier.

    There is $1,000 cash incentive on leases of this car.

    Car_man
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  • Forgetting to include mileage in first email, getting the build year wrong, this is getting embarrassing!

    We are looking at 10k on the mileage, so one last question, what would the residual be based upon 10k vs. the 15k you mentioned above?

    Thank!!
  • ihitcowsihitcows Posts: 45
    edited June 2013
    It'd be 59%.
    Rock on.
    EDIT: If
    0% = 15k, then
    2% = 12k, and
    3% = 10k.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    That's exactly right, ihitcows. Thanks!

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  • gambrillgambrill Posts: 10
    Could you please post countryman S FWD Auto lease rates and incentives please? 12k miles
  • dht222dht222 Posts: 1
    Hi, i would like to lease a mini-cooper countryman S and am trying to decide if this is the right time to do so. I think the current mini lease incentives run out on July 1st. Have you seen better incentives in the last few months or are these incentives pretty good?

    Also, I am new to leasing so can someone tell me how knowing the RV and money factor helps you in determining your leasing cost. We have received several quotes from dealers telling us our total cost (downpayment + monthly payment + taxes/fees + destination charges etc...) but its hard for me to tell how good of a deal i'm getting.

    Thanks!
  • I think that the lease incentives did end 7/1 but other people on this thread may have better info than I do. I just went through a lease deal over the weekend so I will give you my perspective. Money factor x 2400 is your interest rate. Mini,s base rate in July was .00125 which equates to 3%. Best i could get at the dealer was 3.9%. Had nothing todo with my credit score, they just markup the rate. They also increased the acquisition fee from $ 725 to 925, and it was not negotiable. The answer I got was that they are more of a boutique dealer (leased a roadster S) and you will pay more at a boutique. All this being said mini had a $1000 incentive to lease this vehicle and the dealer took another $1k off the msrp. All in all it seemed to be a fair deal. I also had a trade which they gave. Ma fair trade in value for.

    There is a very good thread on top 10 leasing answers on edmunds somewhere. You should find it as it gives you some good info.

    If you do decide on the mini I think you will be very happy. We are on our second one as of this past weekend and just love the brand and their cars
  • ltlladyltllady Posts: 27
    If Mini has a MF of .00125, why accept a higher MF if your credit score qualified for the MINI lease terms? How can such an increase not be negotiable?

    The acquisition fee is set by the bank or leasing company, MINI, not the dealer. Why would you pay more than the actual acquisition fee required by the leasing company? How can a $200 dealer addition to that fee not be negotiable?

    And what is a boutique dealer? What were the benefits of buying from this boutique dealer over a more traditional dealer?

    Seems in the end the dealer allowed $1,000 off MSRP but recovered that so-called discount and a bit more via the higher MF and increased acquisition fee.
  • ltllady - to try and answer some of your very good questions so that other people don't get the wrong impression.

    We definitely wanted to take advantage of the 2013 lease incentives ($1000 off MSRP from MINI), but trying to find a Roadster S equipped the way we wanted it was very difficult. We ended up 250+ miles from home to find one that was a perfect fit for what we wanted. If we didn't get this one, the next closest one again equipped like we wanted it was over 500 miles away. We looked into a transport to get it to us, but that was even more hassle.

    MF - yes this is negotiable, and we definitely tried to get it down to the .00125 that is noted in this forum. Same thing with the acquisition fee. When we pressed the dealer their answer was that these are the #'s that they charge, and that each dealer does not have to use MINI's #'s. FYI - i was also quoted .002 from another MINI dealer a few months ago when it was 0.00125 also.

    I knew that we had the extra $1000 off MSRP in addition to the incentive, and that the increased MF and acquisition fee were probably built in by the dealer due to this. The residual value was based upon the original MSRP though, so by taking all of this into account the we still ended up approx. $650 ahead.

    The boutique comment was used by the dealership - it was meant more of the brand than the dealer. As you know MINI has a definite following of consumers, and we are definitely in that following. We really do like their product and have been quite happy with our experience with the brand. We have found that in working with dealers around the midwest that all of them are pretty straight forward to work with also. Just a good overall experience.

    MINI is known for selling pretty much at MSRP, or at least this is what i have found over the years so ending up a net of $1650 below MSRP with a 59% residual value on the lease was more than acceptable to us.
  • meiji1010meiji1010 Posts: 1
    Hi CarMan,

    I'm looking to lease a 2013 Mini Cooper S Hatchback with 10,000 miles for 3 years in Southern California. Do you have the numbers for the mf, residual, and acquisition fee?

    Also are there currently any incentives or rebates going on right now I should know about? I know April had a lot of good deals, and I'm afraid I've missed out on some opportunities.

    Thanks!
  • weyyggweyygg Posts: 1
    edited July 2013
    Hi,

    Can anyone please let me know July's lease money factor and residual value for 12k/yr Mini Hardtop?
    Thanks much,
  • wmondwmond Posts: 2
    edited July 2013
    Can you please tell me residual on a mini countryman S all4, 15k miles per year, 36 months. Sticker is $33,345 but they knocked $1500 off to calculate a $522/month payment with $0 down.

    Any thoughts would be great, thanks.
  • chrisj7845chrisj7845 Posts: 11
    edited July 2013
    I also need the July residual and base money factor for a mini cooper clubman.

    Thanks!
  • steverstever Viva Las CrucesPosts: 41,246
    A reporter is looking for new car lessees. If you leased a new car in the past few months, and would like to share your story, please email your daytime contact information to pr@edmunds.com.

    Moderator
    Minivan fan. Feel free to message or email me - stever@edmunds.com.

  • Possibly leasing a 2013 JCW Countryman in the next day or two -- Can you please let me know the MF and residual value for 12k and 15k?

    and, do you happen to know the August numbers too? Should I wait until Thursday? or jump in before?

    Thanks in advance for your quick reply -- I appreciate the help!
  • Hi Carman -- or other experts,

    Any word on the lease numbers for the 2013 JCW Countryman (12 and 15k)? I would really appreciate it.

    and anything you know about diving in today/tomorrow v waiting till Thursday is also a great help - Thank in advance!
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