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MINI Cooper Lease Questions
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Additionally, I'd love your input, do you guys think that there will be much of a change in interest rates for October, since it is the first time the 1/2 point cut will affect BMW Financial or other Lenders? If it will, then waiting until the 1st to pick it up would be worth it.
What can/should I do???
He said: no deduction off of MSRP (only Mini dealer for 300 mile radius), standard money factor w/tax 448 per mo X 36 @ 15K per year. I know this is not apples to apples, but we are in Acura territory here. It just seems like a lot of money when I was quoted $319 on a G6 w/GMS.
Do any of my fellow Mini dreamers have advice? :confuse:
2. You can't really compare a mini to a G6. That's an apples to pork chop comparison.
If you're not sure, don't buy a car. Don't buy a car for price and never buy a car you're not totally into.
AFAIK, the 2008 Cooper Convertible is still the old body style. I believe the 2009s will be R56s. Maybe some can confirm this? If it's supercharged, it's an old style. Turbo = new Mini.
I think I posted this here before, but it not, you really should look at a 3rd party lease on a MINI. They sell so well that the MF on a MINI captive lease is sky high. They do have a higher residual than a 3rd party lease bank would have, but the super high rate negates the higher residual. On any term probably above 24 months and maybe even then, a 3rd party lease will net you a lower payment. MINI also charges a high bank fee and does charge an end of lease turn in fee (sort of rare for a captive lease) - this puts these fees more in line with a 3rd party bank fees. I would not be surprised if most/all MINI dealers did not mark up the money factor and even the bank fee as well.
You can check www.leasecompare.com for a rate and payment online (no obligation or app to fill out), check with any other lease broker, or ask your MINI dealer if they do 3rd party leases - they may not. If you go through a lease broker they buy the car at your price and lease it to you. I have done this a couple of times and it saved me a lot of money - when the dealer and/or captive lease bank offered crummy deals. I was able to get out of paying a high doc fee in one case - since it was a wholesale transaction (leasecompare overnighted or wired them the money) and did all the title, tag, and other work the dealer could not justify any "doc" fee. The dealer just took the money, sent the title to leasecompare (at leasecompare's expense), and handed me the keys - that is all they did.
Dennis
In May, I leased a 2007 Mini Cooper (MSRP 25,200) for 169/month for 1 year with $2350 down. (Awesome deal) My residual value which I can buy the car for is $21,000.
My question is, should I buy it or buy a 2008 with fewer options (this one has more options than I actually care about). The new one I priced out with the only options I want would be 2008 at around 21,500 or so. So I'd have a 1 year newer car and more lease for around the same price.
OR if the dealer might go lower in the price to buy my 2007, should I do that? And does anyone have any experience with this--is it likely that the dealer would reduce the residual to get me to buy this one rather than get a 2008?
thanks
PS I thought I was supposed to change the oil at 5000 miles, but I called the dealer and they said I'm not due for service yet. I'm just about to hit 5000 miles, what am I supposed to do? I can't find anything in the manual or lease form that gives me specifics.
1. The car's computer informs you it's time to schedule an appointment.
2. 1 year has passed since you last had an oil change.
BMW uses this program and they have for over 8 years - the cars are just fine following it. You can pay for your own oil change but considering the car's a lease...what would be the benefit to you? Follow the manufacturer's suggested maintenance program.
In Europe, they offer many 8000 mi/per year leases as standard, but the lowest I've seen in the US is 10000.
Can I negotiate a lower cost lease at a 7000 or 8000 miles-per-year cap?
Thanks in advance for the feedback.
I can deduct my mileage for travelling to and from work meetings.
But what's the difference between the other costs--gas, lease payment/loan payment, etc.? Does it matter?
thanks
I am looking at a configuration around 25k...
Can that be had on a 15k /yr 24mo lease at under 400/mo with 1,500 out the door? Anyone on a similar lease?
Thanks
Dealer quoted me figures that suggest that it was ~68% residual and a money factor of .00250, but I think that might have been @ 12K miles.
in souther california, i think i got a good deal. thoughts?
Car_man
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Would you mind telling me which dealer in socal you got this price and more details on your options? Thanks.
ttangbee
Thanks.
Do you have the latest lease numbers for a 24 month lease on a clubman s?
I am located in central Florida, and trying to weigh the options of buying outright or just leasing for 2 years...
I used the March data: (27,700 msrp & cap cost, .00219mf and .71 res on a 24 term...came out to about 438+tax...close? Hopefully the mf has come down to .00210 or better...
Thanks!
where can i get that lease from ? the 1 year lease? awsome - please let me know - i'm in central NJ. fawad@comcast.net or itaddict@aol.com - Thanks
thanks.
Thanks in advance,
Mani
First question: does anyone have the residuals and money factors for a 3-year and a 4-year lease with 10,000 miles per year?
Second question: does anyone know if any dealers are taking orders for these cars at MSRP or less? We have been told that there is a markup of $1500-2000 over MSRP.
Thanks for your help!
second, mini is like a no haggle dealership i dont think u can get them below msrp
but u should go on the site where u can get a rough estimate of a monthly payment, u also can locate where ur closest mini dealer is to u
Car_man
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Car_man
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Car_man
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I ended up purchasing - with these residuals, it is hard not to feel good about resale value - especially given their track record so far...Much appreciated for all the good info shared here by all.
Thank you!
I'm waiting till closr t
I'm waiting till closer to the 09 models whenever that is.
Christmas eve (or thereabouts) is the BEST time for any negociation ...except that the VW Tiguan (biodiesel) Suv comes out then and I'd rather have a fuel that I can make myself for $1.50 "if i have to". Mini cooper $5.00 Premium fuel makes it a "no go show boat" Cute it's mpg doesn't live up to its premium gas price.
The regular v. premium argument is inane at best.
Can anyone let me know the MF and Residual for a 36 month/ 15k per year lease on a Cooper S Coupe Manual Tranny
Thanks a million!
Question: will leasing through a service like leasecompare or carsdirect eliminate the markup that most dealers are charging?
How can I confirm the expected value the the end of a leaseterm?
Car_man
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Car_man
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Check Leasecompare for better lease rates than BMWFS offers. BMW does little to prop up the mini with leasing as it's such a cash cow. This is the exact opposite of leasing a BMW 3 series which gets tons of support from BMW.
Just receied a quote from Midwestern Auto Group in Columbus Oh on 2 and 3 year leases with 76% and 66% residuals respectively (10,000 mi/yr). Also the quote included a money factor of .00359 which seemed a little high. Payments were 348 and 359/mo with 3k down. Do you know what BMW's money factors are right now?
Thanks,
gman71