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MINI Cooper Lease Questions

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  • gforce11gforce11 Posts: 225
    June's lease rates for all Mini's.
    Here's the lease formula/calculator in case you need it.
    The MF is typically not negotiable unless the dealer has marked it up. IF you simply don't quality for the lowest MF, then you are out of luck.
    The residuals are strong on all Mini's, so even with a .00219 MF, the leases should be reasonable (not in the $600 range). Just watch out on the price of the car. The options add up quick.
  • blueguydotcomblueguydotcom Posts: 6,257
    What did the 2400 include?

    Did you pay the acquisition fee separately? Dealer/doc fees? License and title?
  • Looking to lease an '08 Chili red S Coupe - 24 months, 12K miles/yr

    WA Dealer selling at MSRP - $25,350 (Incl Cold Weather & Convenience Pkgs, DSC, Xenon, speaker upgrade, 6spd) + Dealer Prep $595 + Addl Cap Cost (lease origination fee?) $825

    So Adj Cap cost = $26,770
    MF = 0.00250
    Residual = 75%
    Tax = 9.1%
    Monthly Payment = $477.50

    So up front payment = $1,164.25 ($477.50 1st month pmt + 500 security + $136.75 DMV + $50 Doc fee)

    What do you think? Good Deal? Anything I could negotiate?

    Thx!
  • Ended up going with it with a slight change in #'s

    MF = 0.00295
    Residual = 78%

    nets me a slightly lower monthly payment at ~ $468

    Everything else is unchanged!

    Can't wait for my car :D
  • blueguydotcomblueguydotcom Posts: 6,257
    7.08% (0.00295) money factor is kinda high.

    Don't know if you have family who are members of NFCU but you can get a far better lease rate through them. They offer a 4.4% (0.00183) for 36 month, 45k leases - you can probably get better residuals from them for your 24k mile lease. They charge an origination fee of 2% of the msrp added to the sale price as the lease initiation fee. I believe on a 45k/3 year Cooper S they told me the residual is 68%.

    I did it up on leaseguide.com for NFCU's number on a 3 year 45k mile lease for a Cooper S:

    MSRP: 25350
    Origination fee 2%: 507
    Mf: 0.00183
    Tax 9.1% (egad!)
    64% residual (aimed low but I think they said 68%)
    Monthly payment: $382
    Gap insurance included

    So if you have family in Navy Federal Credit Union (NFCU) - brother, mother, uncle, roommate, wife's family, etc - you can join NFCU. It's worth it.
  • Thx blueguydotcom. I already signed up for the numbers above at the Mini Dealer. Also dunno anybody at that CU but thanks anyway. Will keep this in mind for the next car :)
  • Karen_CMKaren_CM Posts: 5,012
    A newswire reporter would like to speak with owners of the Mini Cooper. If you are an owner, please respond to ctalati@edmunds.com with your daytime contact information no later than Friday, July 18th.

    Community Manager If you have any questions or concerns about the Forums, send me an email, karen@edmunds.com, or click on my screen name to send a personal message.

  • ok ive not come across this before
    My mother leased a mini cooper in 2006 for 2 years and 24k miles
    now its time to turn the car back in and to my dismay she has 6k miles on the car
    and they want around 18k for the car if she wanted to buy it. It seems to make more sense to buy the car and either keep it or sell it on our own because with that kind of milege wouldnt they make a killing on it? Or can we use it to get into another brand new car ? thtnks in advnace
  • qbrozenqbrozen Posts: 17,285
    Yes, you can actually trade in a lease and benefit from the equity, if in fact there is any. Just get a trade-in value quote. If it is more than the buyout, then that is your equity.

    If you want the true trade-in value, try posting the details on The Real-World Trade-in Values board.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • Car_Man - I know they probably aren't out for a few more days, but could you please post the 2009 MCS Lease Rates for October, 2008 when they are released?

    I've worked up a lease proposal based on the only numbers I could find (I think these are Aug-08 numbers for the last 2008 models):

    09 MCS, 36 mo, 36K mi
    Base MF: 0.00219
    Residual: 64% (62% @ 15K/yr + 2% for 12K/yr)
    Base Acq Fee: $625.00

    It would be great to know if these have changed for the 09 model (residual higher?) before I present it to my dealer.

    Thank you!
    Jon
  • I recently was quoted $410@ month on an 09 CooperS, with options stickered for $29665. This is with $2500 down and 10,000@ year mileage, and a 24 month lease, what u think??
  • Does anyone know the current residual values and captive finance money factors for 2008 and 2008 model year minis for 24 and 36 months, at 12K mi per year?

    Thanks.
  • I am in Los Angeles, CA. Which mini dealer do people here suggest? My girlfriend is interested in pretty much the base model (though w/ auto). Anyone out there got recent lease terms (cap cost, residual, etc) for 12,000 (and 15,000) for 36 months?

    She is also a recent graduate? Anyone here take advantage of the new graduate program?
  • went to a dealership in so. cal. this afternoon, and was quoted the following:

    2008 Cooper MSRP $19,500 FIRM
    36 months
    15K/ year
    $1,600 down (out the door costs)
    64% residual
    money factor of .0049 (credit score right under 600)

    Monthly Payment "high 300s" he said.

    This is for a 2008. How does this sound? Any room to negotiate here?
  • Hi all, i was wondering if anyone could tell me what they are offering money factor wise if you have excellent credit? Thanks
  • Hi carinsider. BMW's current residual value for a 24 month lease of a 2009 base Mini Cooper with 12,000 miles per year is 80%. The number for an otherwise identical 36 month lease is 70%. For otherwise identical leases of an '08 model, the residuals are 75% and 66%.

    BMW is not currently providing any lease support on Minis. As a result, if you were to lease one through its captive finance company, you would have to use its standard lease money factor, which varies by region. It is probably around .00250 or so, give or rake a few .00010 in your area right now.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi justgiuls. See my previous post for the information that you are looking for. Thanks.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • i was able to get an MF of .00195 (credit rating 864)
  • Car_Man, do you know of the lease rates for november on a 2009 mini cooper s hardtop? thanks in advance.
  • Hi jbar07. This car's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different.

    Mini's current 36 month, 15k residual value for a 2009 Cooper S Hardtop is 67%. This car's money factors vary by region. In most areas they should be anywhere from .00200 to .00250.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hello Car_man,

    Just wanted to see if I could procure some hard figures from you. Hopefully I get all the info right:
    2009 Mini Cooper ( Non-S model ) Automatic Hatchback
    36 months, 12k miles per year

    I think that's all you need for residual / money factor? Hope I didn't leave anything out. Also, the MSRP on one I configured online is $24,800.

    Thanks!

    Rob
  • Of course I forgot something - I'm in San Antonio, TX.
  • Hi leroybrown72. BMW's current 36 month, 12,000 mile per year residual value for a base 2009 Mini Cooper Hatchback is 70%. Its money factor varies by region. I have not seen its exact buy rate for your area, but it is probably around .00200 to .00250.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • put a deposit down on a 08 mini s convertible jcworks selling price $35k leasing for 48months 3500 down for monthly payments approx499 at approx 6% haven't seen the residual value. is this a good deal? what do you think about the mini select program? the reason i'm opting for the mini select is for the unlimited mileage. any advice would be great b/c i'm really not sure if it's a good deal or not.
    thanks. :confuse:
  • If you have 3500 to put down, do MSDs instead of a cap reduction. Cap reduction is money wasted.
  • Anyone have residuals and MF for January 2009 on a Cooper S Hatchback for Ohio and Pennsylvania?

    The ohio dealer *somehow* came up with a monthly rate 150/mo higher than the Mini FInance Calculator...

    MSRP: $25,830, 36 mo lease, 15k/year, 6k trade-in.
  • tokytoky Posts: 9
    Hi Car_Man,

    Need of your assistance ASAP.

    Just put a deposit down for an 09' Mini Cooper and not sure if it's a good deal.

    MSRP: $20,950
    Location: Mahwah, NJ
    Mileage: 12K / yr
    Term: 36 Months
    Due at sign: $2,500 ($1,999 down)
    Sec Fee: $250
    Dep Fee: $350

    1) What would you consider a good lease payment with the information provided?

    2) Could you get me the MF and Residual so I can do some type of ball park figure?

    THANKS in advance!
  • tokytoky Posts: 9
    Could anyone assist please?
  • Toky,

    Car_Man is far better equipped to answer this, but to give you something to work with:

    - first, don't ever put a downpayment on a lease. There are lots of reasons for this which you can learn by reading other posts on this and other forums.

    - I don't have the January lease program numbers, but using a 69% residual and 0.00250 MF at MSRP for 36 months, capitalizing the destination charge and acquisition fee, I come up with about $308/month + sales tax. This assumes NO downpayment. This isn't perfect, but it is probably within +/- $25/mo.

    Hope this helps.
    j.
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