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MINI Cooper Lease Questions

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  • pohoehoepohoehoe Posts: 1
    edited August 2011
    We leased a 2011 Mini Cooper Convertible (Base Model) on 7/31/11. The MSRP was $29000 (included some options), automatic, pepper white, 36 months lease, with $4k down, 10k mile a year, came down to $330 a month (including tax). While at the dealer we called another Mini dealer in the south bay for comparison, and they told us they can't beat it. However, after we got the car, we are still skeptical about it. What if the other dealer has communicated with the dealer we were at, or knows them really well, and did them a favor? Btw, this is in NorCal - Bay Area.

    Appreciated any comment on if this is a good or bad deal? If bad, how bad? Thanks for your feedback!!
  • Hi Car Man,

    Do you have the August residual and money factor for a 2011 Cooper S, 10,000 annual miles at 36 months?

    Thanks!
  • dpsilvadpsilva Posts: 2
    edited August 2011
    Hey Car man,

    I was wondering if you could tell me what I can expect to pay in lease payments for a 2011 Cooper S with a MSRP $27500, 36 months, $6k down and 10k miles/year.

    A MF and RV would be helpful as well,

    Thank you in advance.

    Dan
  • Hi Car_man,

    Do you have the residual and money factor numbers for the following two vehicles?

    2012 Mini Cooper-S hardtop with 15,000/yr
    2012 John Cooper Works hardtop with 15,000/yr
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I have seen the info for 2012 models, vc_bklyn. Mini's current buy rate lease money factor and residual value for a 2012 Cooper Clubman with 12,000 miles per year are .00170 and 61%, respectively for consumers who qualify for its top credit tiers.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mc82mc82 Posts: 1
    Hi..

    I just got home from the dealer and this what I was quoted:

    MSRP $25425
    12k a year/ 36 months
    Money factor: 0.00225
    Residual: 60%
    Nothing down except inception ( they say is around $1,500 )

    430 a month plus tax.

    I believe these numbers are too high, what do you think???
    It was late at night and maybe the guy just didn't want to sell it
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi tonyrockytiger. Mini's August buy rate lease money factor and residual value for a 36 month lease of a 2011 Cooper S with 10,000 miles per year are .00170 and 63% respectively for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Dan. This car's lease payment will depend upon what its selling price is. For now I will assume that you are being given a $1,000 discount. Let me know the exact selling price that you are shooting for and I can use that.

    According to my calculations, if you were to lease a 2011 Mini Cooper S that has an MSRP of $27,500 and a selling price of $26,500 through its captive finance company right now for 36 months with 10,000 miles per year, your zero down, pre-tax monthly payment would be around $330 for consumers who qualify for its top credit tiers.

    The numbers for an otherwise identical lease with a $6,000 capitalized cost reduction would be only $153. Having said that, it is definitely in your best interest as a consumer to put as little money down as possible when leasing. Consumers who make large down payments when leasing risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered.

    I used a money factor of .00170 and a residual value of 63% to arrive at the above payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello otto_man. Mini's August buy rate lease money factor and residual value for a 36 month lease of a 2012 Cooper S Hardtop with 15,000 miles per year are .00170 and 58%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2012 John Cooper Works Hardtop are .00175 and 50%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • dpsilvadpsilva Posts: 2
    That was the most thorough answer I have ever received. Your the man Car man!

    Quick question: How do you receive a $1000 discount on MSRP using the captive finance program?

    I unfortunately qualify for probably the lowest tier of credit since I have just graduated college and I have never used credit in my entire life. Would you recommend financing or leasing in my case?

    Once again thank you very much for your time.
  • Hey Car man,

    I was wondering if you could tell me what I can expect to pay in lease payments for a 2011 Cooper Hardtop with a MSRP $27374. I'm looking at 24 or 36 months. I would like to put less than $1,000 down. I also need to have a lease that's going to let me put between 20K-25K miles/year. I've got quite a commute.

    A MF and RV would be helpful as well,

    Thank you in advance.

    Eb
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome dpsilva. There's nothing wrong with leasing or financing. Leasing will provide you with lower monthly payments, but of course you won't own your vehicle at the end of your lease and you will if you choose to finance it.

    The selling prices of leased or financed vehicles are negotiable, just as if you were paying cash for them. Perhaps a $1,000 discount is a little too aggressive, but you should shoot for as large a dealer discount as you can get.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jedieby7. Mini's current buy rate lease money factor and residual value for a 24 month lease of a 2011 Cooper Hardtop with 15,000 miles per year are .00175 and 64%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36 month lease are .00170 and 65%.

    I believe that 15,000 miles per year is the highest mileage allowance that Mini publishes residual values for. If you need to drive more than that you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Your monthly payment will depend upon what sort of dealer discount you are able to negotiate. For now I will assume $500 off. Let me know if you want something different.

    According to my calculations, if you were to lease this car for 24 month with 15,000 miles per year, its zero down, pre-tax monthly payment would be around $468. The payment for an otherwise identical 36 month lease is a much more attractive $329.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I'm meeting with the dealership on Friday to order a 2012 mini cooper clubman. This will be my second clubman with this dealership. They have done an extensive amount of warranty work on my first clubman. I'm way under mileage by approximately11,000 miles (lease up in January). The quote they gave me was $316 with tax for a car costing $26750. 36 months and 10,000 miles a year. I'm willing to put up to $3,500 down to get the monthly lease under $300 with tax. This seems high as when I use the Mini cooper build a car, the car costs 27,300 (without destination fee) and their system gives me a monthly lease of $267. without tax. My credit rating is high.

    Any help would be greatly appreciated!
  • Any word yet on the residual and money factor are from the factory for the 2012 Mini Cooper? Thanks in advance!
  • Hi Car Man -

    Have you heard or gotten any information regarding the new MINI Coupe (This is the new model that is a 2 seater that MINI has now started taking orders on).

    I have an order for a 2012 MINI Coupe S at my dealership that will be delivered in early November. Not planning on any discounts since it is a brand new model/car.

    MSRP - 31,150

    I'm looking at 36 or 48 month leases.. 12,000 - 15,000 miles per year.

    I do plan on putting down about 2,000 - 2,500 per month to lower the payments.

    Any info you may have would be greatly appreciated! Thanks! :)
  • Hi Car Man! Can you please tell me what the residual and money factor is on a 2012 Cooper S and Jhon Cooper Works for 36 months and 15,000 miles a year. Thank you very much!
  • Hello.
    Does anyone know what I should expect for Money Factor and Residual percent for a 36 month lease with 10,000 miles per year (in Southeastern PA) for:

    MINI Countryman - assume MSRP of $24,700
    MINI Countryman S - assume MSRP of $28,050

    I'm assuming, since these vehicles are so popular, that I should not expect a discount from MSRP, correct?
    Also - do you know if there are any up-front charges with the MINI lease? (Finance charges).

    Basically, I want to know what the "Money due at signing" and the "monthly payment" would be ... along with the MF and Residual value used to calculate them.

    thanks
    -Benedick96
  • msingletonmsingleton Posts: 4
    edited October 2011
    Hi all,

    I was hoping someone might be able to share the current residuals and money factors for 2012 Cooper Hardtop Base for 10/12/15K mile 36-month leases (assuming top tier credit). My Cooper is being picked up this Saturday, and I have a feeling the dealer is marking up the money factor (was quoted at .00170 last month, but now they say it has gone higher and I don't believe them).

    Thanks in advance for any help you may be able to provide!
    Matt
  • Hi everyone

    I was wondering if anyone had any information on the 2012 Mini coupe. I am planning to go to the dealership tomorrow and would appreciate if anyone could tell me the current residual/money factor for it. Also should I be expecting to get anything off the MSRP since it is a new model.

    Also what is the current residual/money factor for a mini cooper hardtop and are there any incentives/manufacturer rebates going on.

    Thanks in advance guys.
This discussion has been closed.