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MINI Cooper Lease Questions

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  • Hello criticald. Mini's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Cooper S with 10,000 miles per year are .00225 and 61%, respectively.

    As Kyfdx mentioned, the addition of options has no impact upon this car's residual values (other than John Cooper Works).

    Car_man
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  • Hi frankiep_bsny. $3,000 is a lot of money to pay at signing on a lease. I assume that a decent chunk of that money is being used as a capitalized cost reduction. I always advise consumers not to make cap cost reductions on leases. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, you would be much safer going with a zero down lease.

    As far as how attractive this deal is, I would be happy to give you my opinion on it...however it would be much easier for me to do so if you would provide us with this car's full MSRP and approximate selling price first.

    Car_man
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  • Welcome wizzledizzle. I find that the best way to tell if a lease is a good deal is to look at the selling price that it is based upon. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell how large a discount the dealer is giving you and in turn whether there is likely any room left to negotiate. Let us know what this car's selling price is and I'm sure that either myself or another helpful community member will be happy to let you know what they think,

    Car_man
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  • Hey jnook1. Please see my answer to your question in post #274. Thanks.

    Car_man
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  • Are there any specific programs right now for the Clubman? The normal Cooper is too small for my family (I'm 6'11") and we need to fit kids in the rear seat. Are any of the lease numbers any different than what you've been posting over the last week? And are there any different tax outcomes onn buy versus lease?
  • Hi sevenfeet0. I didn't like the Clubman at first, but it has really grown on me to the point that I think that it's cool now. Holy Toledo, I just noticed that you said that you're nearly seven feet tall. Have you tried sitting in a Clubman? I haven't driven the Club, but I have driven a normal Mini Cooper and I don't see how you would be able to fit comfortably in one.

    Anyhow, here's the information that you're looking for. Mini's October buy rate lease money factor and residual value for a 36 month lease of a base 2010 Cooper Clubman with 15,000 miles per year are .00225 and 61%, respectively. The numbers for an otherwise identical lease of a 2009 model are .00210 and 61%.

    Car_man
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  • Hey car man. Would you agree that it is smarter to lease a mini rather than buy because of its crappy reliabilty. If you see that the car is gonna give you alot of problems in the next three years than turn it in. If it is doing well than buy it rather than buying it and regreting it later. If something goes wrong with the car while its lease, does the dealer have to fix it free of charge? I saw in a sample contract from leaseguide.com that if anything goes wrong with the car than the owner is responsible for it. I thought the point of leasing is to not worry about repair charges while you own it? Also, is it a good deal to get to lease a 10 mini s for total lease payment of $10,840 in new jersey? Thank You.
  • joesaojoesao Posts: 16
    Hi Car_man, I would appreciate your help with the residual and money factor for a 2010 Cooper S w/ 10k mile lease. I saw that you replied twice to this question before but the numbers you gave were different.

    To criticald you replied: .00225 and 61%, respectively.
    To zoran you replied: .00205 and 63%, respectively

    What are the latest numbers?

    Thanks for your help!
  • Hi jeffrey12341. If you are really concerned about the reliability of the Mini that you are interested in getting then it definitely wouldn't hurt to lease. By doing so, assuming that you go with a 36-month lease, you will be covered by the manufacturer's warranty for the duration of your obligation to the car.

    Minis actually lease fairly well, they have reasonable money factors and very strong residual values. I would be happy to work up a sample lease payment on the exact car that you are interested in for you if you provide me with its full MSRP and approximate selling price, or at least its MSRP and invoice price. You can find this pricing data over in the New Vehicle Pricing section of this site.

    Car_man
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  • Hi joesao. Here's the latest info for you. Mini's November buy rate lease money factor and residual value for a 36 month lease of a 2010 Cooper S with 10,000 miles per year are .00170 and 61%, respectively.

    :shades:

    Car_man
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  • Hey CARMAN. the exact car i want is a mini cooper clubman S pepper white w/ cold and sports package. Ill also be willing to get a cooper s w/ cold and sports. Thank Tou. I tried going to a dealer and they just wanted to sell at msrp. do you think it will be hard to get a mini in nyc area at around invoice? Whats ur opnion?
    Can you give me a sample lease paymentof that s clubman
    msrp $25,350 invoice $22,880
    Also what are fees that i should expect to pay so that they wont give me any fake fees and try to rip me off?
  • joesaojoesao Posts: 16
    Car_man, thank you very much indeed!
  • Hello, I am interested in leasing a 2010 MINI. I noticed they have a promotion on the MINI website for a well equiped cooper hardtop with a quote of $269/month for a 36month lease with 12,000 miles and a 1,769 down payment. I was offered $302/month with a $2150 down payment at a recent visit to a dealership. The mileage and term of the lease was 36months and 12,000 miles.

    Am I getting a good deal? Why the disconnect in pricing? The website has the MSRP at 22,500. The car at the dealership was 23,500. It doesnt sound like I am getting a good deal here.
  • Hey jeffrey12341. I don't know about getting one for dealer invoice, but I know that demand for Minis has definitely slipped some, particularly on the East Coast now that winter has set in. You definitely shoule be able to negotiate a discount off of full MSRP on one.

    Let's work up a sample lease payment on the car that you're interested in and see what we come up with. For now I will assume a selling price of $1,000 over invoice. According to my calculations, if you were to lease a 2010 Mini Cooper Clubman S that has an MSRP of $25,350 and a selling price of $23,880 through its captive finance company right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $325.

    Car_man
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  • You're very welcome, Joe.

    Car_man
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  • Hi there,

    Does anyone know the Mini lease terms for December? Base Mini HB manual transmission... what are the money factor, residual, and any additional (i.e. acquisition) fees? In CA if it matters. Thanks!

    Edit: for 12K and 15K per year.
  • Here you go, wakked1. Mini's December buy rate lease money factor and residual value for a 36 month lease of a base 2010 Cooper Hatchback with 15,000 miles per year are .00215 and 63%, respectively.

    If you were to lease this car with only 12,000 miles per year, its residual value would be 2% higher.

    Car_man
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  • Señor Car Man,

    D.C. resident here. I am seriously considering a Mini Cooper Hardtop (no S) as my commuter car, in no small part due to its excellent mpg (why not have something fun to drive on the slog to work every morning?). Based on my experience over the last 2+ years with my current commuter car, I should rack up no more than 7k miles/yr in the Mini, and likely closer to between 5k and 6k.

    So here are my questions.

    (1) Does Mini do 10k leases? If I'm not mistaken, all of the posts here seem to mention 12 and 15k leases. And I have never leased, so I dont know if 10k leases even exist. Of course, if 10k leases exist for Minis, could you give me the numbers (money factor, residual)? I suppose a related question if 10k leases dont generally exist is whether I can negotiate different money factors/residuals if I agree to a 10k lease, i.e., can I negotiate a customized lease?

    (2) For someone like me who knows they will be driving low miles, does that tilt the buy/lease balance towards buying or leasing, or does it not matter?
  • Great, thank you for the info!
  • Hi Car_man!

    I'm wondering if you could take a look at a deal for me please - I'm looking at a 2010 Mini Cooper Clubman (not an "S"), manual transmission:

    MSRP: 20,450
    Cold Weather: 500
    Dual pane sunroof: 1000
    Destination: 700
    Sticker: 22650

    The dealer is using a 36-month term, money factor of 0.023, 64% residual, 6% state sales tax, 12,000 miles/year. There is $735 due at signing (includes 1st pmt, tax, title, doc fee. security deposit and acquisition fee waived). Payment is 336.71/mo with tax.

    The dealer is initially saying that they won't negotiate from sticker - is this true of new Minis, or can I negotiate? Edmunds lists Invoice for this car at $20,455.

    Thanks a lot!
  • joepojoepo Posts: 10
    Hi, Car_man - I'm interested in leasing either a 2010 Cooper S Hatchback or Cooper non-S Cabrio and would appreciate it if you could provide the Dec lease rates based on 36 months and 10K miles.

    Thanks much!
    Joseph
  • Hi - Some dealers in my area still have a few 2009 Mini Cooper S Hardtops. What is the money factor and residual for a 36 month, 12k miles/year lease this month? Thank you.
  • Car Man, Can you tell me if I am getting a decent deal on this configuration?

    I have included three options:

    PURCHASE:

    BMW FS - 60 Months
    CT 6% Sales Tax
    APR 1.9
    Total Sale Price: $34,786.24
    Down Payment: $2000
    Monthly Payment: $573.24

    ****************************

    LEASE:

    36 Months
    15K/Year
    CT 6% Sales Tax

    $505.56 including 6% sales tax.
    Due at Signing: $2,235,34 (1st, security, dmv fees..etc)

    ****************************

    Balloon Payment:

    Term: 36 months
    CT 6% Sales Tax
    APR: 2.9%
    Total Sale Price: $34,786.24
    Total Down: $2,000
    Monthly: $447.85
    Balloon: $18,939.00

    CONFIGURATION:

    -Leather Punch Carbon Black
    -Cold Weather
    -Sport Package
    -Sport Suspension
    -Limited Slip Differential
    -Anti-theft alarm
    -Comfort Access
    -Roof Rails
    -Center Armrest
    -Park Distance Control
    -Automatic Climate Control
    -Rear Fod Lamp

    Additions w/ Install: $1,079.00
    -S Rubber Front & Rear Mat
    -JCW Drilled Rotors
    -JCW Strut Tower Brace
    -Mini Magnetic Stone Guards
    -Venture Shield Protective Film (recommended better company than invisishield)

    INCLUDED IN PACKAGE/NO CHARGE:
    -Brushed Alloy Interior
    -17" Crown Spoke
    -Power Folding Mirrors
    -Heated Mirrors & Washer Jets
    -Heated Front Seats
    -Xeon Headlights
    -All Seasons
  • Hi Car Man,

    There are still some 09 Coopers available in the DC metro area. Would the fact that a car is an 09 rather than a 2010 impact (e.g., lower) the residual at all? The dealer mentioned a residual that seemed too low, given the residuals I've been seeing lately in this forum, and before I go in with guns blazing, I wanted to make sure I had all of the right information.

    Thanks!
  • Car Man,

    Could you work up a sample lease payment for a 36 month lease, 10k miles/yr for a Washington DC resident for a 2009 (not 2010) Cooper HT (not an S) with a list price of 26,900, a negotiated price of 24,457, and an invoice price of somewhere between 24,200 and 24,400?

    Thanks!
  • Car Man (or others),

    Here is a direct quotation from an area dealer: ran the $25500 Cambden at 36months, $498. 42 months, $477. 48 months, $455. All with current rates, 10k mile lease setups for a DC resident.

    Are these the horse poop they appear to be? This is for a 2010 Mini HT (not an S). The dealers numbers are under the assumption that I am putting zero money down, which I have learned from this forum is what I should be shooting for.

    Thanks for your help.
  • Hi Car Man,
    Can you provide the current money factor and residual rates for a 2010 Mini HT and S?
    Thank you
  • Wow Car_man you are definitely knowledgable about the MINI. Perhaps you can help clear something up for me... Is Jeffrey12341 correct that the MINI is not at all reliable? I was thinking exactly what Jeff was that I should lease instead of finance especially since I want a MINI convertible and the motor on the top can go very easily. Typically that's what goes in convertibles in general... what do you think? Pls help. :)
  • Hi Car_man - Do you happen to have the current money factor and residual for Mini? Thank you!
  • I should have added it's a Cooper S, 15K miles and I'm in Los Angeles. Thanks!
This discussion has been closed.