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MINI Cooper Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go janjan27. Mini Financial Services' May buy rate lease money factor and residual value for a 36-month lease of a 2012 Cooper Hardtop S with 10,000 miles per year are .00180 and 63%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • mark3000mark3000 Posts: 5
    This is great information. Thank you all so much for this forum! I thought somebody might be able to help me clear up some confusion about the lease negotiation process.

    My dealer quoted me a higher money factor than .00185 (.0023)... is that pretty normal? Or is that something that might be negotiated down if I have top tier credit?

    Thank you in advance!
  • mark3000mark3000 Posts: 5
    First off, this is terrific information. Thank you all so much for this forum! I thought somebody might be able to help me clear up some confusion about the lease negotiation process.

    My dealer quoted me a higher money factor than .00185 (~.00211)... is that pretty consistent with what others are seeing? I assume it can be negotiated like anything else.

    I would love to know how this compares with the deals others have recently gotten. Information like... Discount off MSRP, Money Factor, and State of Purchase would be fantastic. Maybe we could get a list started from a handful of WONDERFULLY THOUGHTFUL lessees that could reply back with these 3 items. =)

    It would fantastic information to have for us who've yet to buy! If this has already been covered, please accept my apologies.

    Thank you in advance!
  • mark3000mark3000 Posts: 5
    Sorry, this comment was incorrectly placed. Please disregard.
  • mare0114mare0114 Posts: 2
    Hi CarMan can you please explain to me what credit ratings are needed to get what MF? I'm looking at leasing an ALL4 (presumably in June now) for 3 yrs/36,000 miles. One dealer quoted .00185, another .00225. Just trying to get a sense of what type of rating I'd need to get the "top tier" which I am assuming the .00185 is vs. the .00225 so I can have a better sense of monthly payments before I order.

    Thanks!!
  • Hey Car Man. I am debating between three cars - a cooper, a cooper S, and a cooper convertible. What are the new June money factor buy rates and residuals for these three cars at 12000 miles and 36 months.

    Also, is the $500 cash incentive still applicable on the S and convertible?

    Much thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks and you're welcome mark3000. If your credit is in good shape it probably means that the dealer is attempting to mark your car's factor up to add additional hidden profit to your deal. This sort of thing is actually fairly common with BMW and even Mini dealers. If you are in an area that has a decent level of competition, you may be able to get the dealer to lower the factor by confronting them about it or shopping around.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mare0114. Im actually not sure exactly what cutoff BMW FS uses for its best available rates. If your credit score is in the 700's you'll definitely be good. The mid-to-high 600s should be good as well.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey bronxcheer. Yes, the $500 cash incentive is still available on both the S and Convertible model, but not the base hardtop.

    Mini's June buy rate lease money factor and residual value for a 36-month lease of a base 2012 Mini Cooper hardtop with 12,000 miles per year are .00150 and 67%, respectively.

    The numbers for an otherwise identical lease of a Cooper S hardtop are .00180 and 62%.

    The numbers for a similar lease of a base Cooper Convertible are .00175 and 58%.

    Car_man
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  • mesherrymesherry Posts: 6
    Thanks in advance Car Man,
    I have the same questions as "Bronxcheer regarding the new June buy rates and residuals for a hardtop Cooper - but with 10,000 miles. (We may add the moonroof & stripes.) Also, I read that the new 2013's may start to ship in August. If that is the case should we hold off for any potential clearance of the 2012 models in July? (Our dealer says they probably won't much of an inventory then.)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome mesherry. The addition of moonroof and stripes should not have any impact upon this car's residual values. Lowering mileage allowance to 10,000 miles per year from 12,000 would boost its residual value by 1%.

    It's difficult to say what the incentives and lease program will be like on 2012 models in August. I personally don't anticipate a fire sale on '12s, but I suppose anything is possible.

    Car_man
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  • mark3000mark3000 Posts: 5
    Great information. Thanks again!
  • mark3000mark3000 Posts: 5
    Great information, Car_man. Thanks again!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome mark3000.

    Car_man
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  • deldottodeldotto Posts: 1
    Hi Car_man,

    I'm Interested in a 2012 Cooper S. Do you know if the $500 You-ification option credit can be combined with the $750 Test Drive Take-down credit (i got a voucher from a test drive event).

    Thanks in advance...=)
  • ihitcowsihitcows Posts: 45
    I see, how about the Cooper S Cabrio? 36/12k?
  • reinachireinachi Posts: 1
    Hi Car_man, got some questions about lease. I went to dealer yesterday and looked at a Mini Cooper Hardtop base, Manual with cold weather, got offered $2000 down, Money Factor 0.0019 with 10,000 miles per year for a 36 month lease. Acquisition fee 925 and dealer processing fee 399 are included.
    Is that resonable?
    I tried to negotiate the money factor with the dealership, but they said they have no control over it.
    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    That's a good question deldotto. I don't know a definite answer, but I suspect that these two offers can be combined.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for ihitcows. Mini's June buy rate lease money factor and residual value for a 36-month lease of a 2012 Cooper S Cabriolet with 12,000 miles per year are .00175 and 57%, respectively for consumers who qualify for its top credit tier.

    Car_man
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This discussion has been closed.