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MINI Cooper Lease Questions

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  • kyfdxkyfdx Moderator Posts: 236,760
    Yeah... If you are worried about the ride, the 15" wheels are the ones you want.... The tires are the same overall diameter of the 16" wheels..

    Less wheel = more tire = more cushion.. plus, as noted... non-runflat.. which will be even more forgiving..

    If you like to shift and run through the gears, you'll have a little more fun with the base model, as it takes a little more rowing to get where you are going.. If you just like power/torque and don't care about the shifting, then the "S" will be more appealing (at a substantial extra cost).

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks lazieepetey.

    Mini's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Mini Cooper S with 15,000 miles per year are .00190 and 53%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi minibibi. 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 2010 Cooper Convertible with 12,000 miles per year are .00190 and 52%, respectively.

    The numbers for an otherwise identical 36 month lease of a Cooper Convertible S are interestingly exactly the same.

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  • wongkoonwaiwongkoonwai Member Posts: 4
    Hi Car_man,

    Do you also have Mini's October buy rate lease money factor and residual value for a 36 month lease 12K miles/year of a 2011 Cooper S hardtop and Cooper hardtop?

    Thanks!
  • carsearch16carsearch16 Member Posts: 4
    I'm interested in a mini-cooper based model for a 24 month lease. Does anyone know if they will do a 24 month lease?

    If so, does anyone know the money factor and residual value for a 12 or 15k lease for 24 months?

    The only must-have options for me are heated seats and a sun roof, but not sure if its better to do that as individual options or as part of their packages. Any thoughts?

    I've been to my local mini dealer twice and both times they've been incredibly rude to me. I'm new to looking at minis and don't really know how it works - he was totally unhelpful and wouldn't explain any of the options to me, so trying to get some help elsewhere.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly do, wongkoonwai. Mini's October buy rate lease money factor and residual value for a 36 month lease of a 2011 Cooper S Hardtop with 12,000 miles per year are .00170 and 57%, respectively.

    The numbers for an otherwise identical lease of a non-S model are .00170 and 60%.

    Car_man
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  • adamwadeadamwade Member Posts: 4
    I wanted to post my new lease for a 2011 Mini Clubman on 10/22/2010. Thanks Car Man for all your posts that helped a lot.

    My dealer was Irvine Mini, CA

    2011 Mini Clubman (British racing green2 w/ silver top) totally stripped. They threw in rubber floor mats

    MSRP at $22,300
    Term: 36 months
    Residual %66 of MSRP (12K per year) (%67 for 10K/year) only $8mo more for 12K.
    Money Factor .00180
    Discount of the car $1054
    My total drive off was $2842 (CAP reduction $2018 + DMV $362 + first payment + $45 doc fee, etc) No security deposit.
    Monthly payment $ 208.45 plus tax.

    Other useful info:

    Regular HT minis residual was %68 with MF at .00173
    What helped me was to have them use their computer to recreate the national lease offer, then input the numbers for my vehicle. I was less MSRP, but also less residual and higher MF for the clubman.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, adamwade. I'm glad that I was able to help you out. Thanks for taking the time to give back and share the details of your lease with everyone. Real world examples like this are always helpful for others who are in the market.

    Enjoy your new ride :shades: !

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  • midnightbluemidnightblue Member Posts: 22
    Carman,

    I would be most appreciative if you could post captive lease rates (residuals & money factors) for 2011 Mini Cooper S Countryman All4 with 10K and 12K miles per year at 36 months.

    Thanks!
  • wentengwenteng Member Posts: 2
    Hi Car_man,

    Do you have Mini's November buy rate, lease money factor and residual value for a 36 month lease 10K/12K miles/year of a 2011 Cooper Base Convertible and a 2011 Cooper S Convertible?

    Thanks!
  • wentengwenteng Member Posts: 2
    I visited Alexlandar Mini at LA today.

    for a 2011 mini cooper S hardtop w/ premium pkg + sport pkg + ipod + carbon black line + metallatic gray + piano black interior for MSRP 28200, invoice is 25500, we agree on 26000,

    November Money factor for 2011 hardtop mini coper S as i was told is 0.0025, residual is 65% for 10k on 36 mo lease. 64% for 12k on 36 mo lease.

    they told me 806 downpay w. monthly payment is 372.

    but i use lease guide it tells me 312 per month.

    who is correct?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi midnightblue. Ahhhh the Countryman. Mini just introduced its lease program for it the other day. Its November buy rate lease money factor and residual value for a 36 month lease of a 2011 Cooper S Countryman All4 with 12,000 miles per year are .00230 and 61%, respectively for consumers who qualify for its top credit tier.

    The residual value for a lease with only 10,000 miles per year is 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings wenteng. Mini's November buy rate lease money factor and residual value for a 36 month lease of a 2011 Mini Cooper Convertible with 12,000 miles per year are .00180 and 54%, respectively.

    The numbers for an otherwise identical 2011 Mini Cooper S Convertible are .00180 and 54%.

    The residual values for leases with only 10,000 miles per year are 1% higher.

    Car_man
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  • nealitnealit Member Posts: 12
    edited November 2010
    Hi, CarMan,
    May I also know the buy rate lease money factor and residual value for a 36month lease of 2011 Mini Cooper S Hardtop on 10k/year and 12k/year?
  • jpacgpjpacgp Member Posts: 3
    Hi Carman,
    Can you let me know the current lease rates for the clubman S? Thanks!
  • memoryman1978memoryman1978 Member Posts: 2
    Hi Car_man, wondering if you can advise me on whether this is a good lease deal or not????

    2010 Mini Cooper Convertible w/Sport Package
    MSRP $27800
    Selling Price $21800
    51% residual, Money Factor 0.00205
    $2000 due at signing (includes 1st month and DMV)
    10k miles per year
    $277+tax= $302/mth

    Thanks!
  • memoryman1978memoryman1978 Member Posts: 2
    Sorry missed a key piece of information...36 month lease in CA.

    2010 Mini Cooper Convertible w/Sport Package
    MSRP $27800
    Selling Price $21800
    51% residual, Money Factor 0.00205
    $2000 due at signing (includes 1st month and DMV)
    10k miles per year
    $277+tax= $302/mth

    What do you think?
  • midnightbluemidnightblue Member Posts: 22
    Thank you very much Car_Man! When do you expect December data to become available? Delivery is possible late December.
  • gb1663gb1663 Member Posts: 2
    I was just quoted the following in Northern California for the 2011 Clubman with Automatic, Bluetooth / Ipod, Rear parking assist, Center Arm Rest, Premium Package. Claims he can drop about $400 off the MSRP if I get serious about buying.

    MSRP - $26,050
    Cash Down - $3081
    36 months
    10K miles per year
    Residential - $17,974
    Payment - $259.08 + tax
    MF appears to be about .0025

    Is this the best MF and what is the best deal I should be able to secure?

    THX
  • gugy68gugy68 Member Posts: 6
    Hi,
    Do you have lease info for the Countryman Cooper S and regular Countryman Cooper?
    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nealit. Mini's November buy rate lease money factor and residual value for a 2011 Cooper S Hardtop with 12,000 miles per year are .00170 and 56%, respectively.

    The residual value for a lease with only 10,000 miles per year is 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, jpacgp. You never mentioned how long you want to lease for or what mileage allowance you need, 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 November buy rate lease money factor and residual value for a 36 month lease of a 2011 Clubman S with 15,000 miles per year are .00160 and 55%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi memoryman1978. That money factor looks about right and that selling price is very low. This looks like a pretty good deal to me.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, midnightblue. Mini's current programs are scheduled to run through November 30th. I expect the new December programs to be available early in that month.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gb1663. The money factor that you were quoted looks a little high. Mini's current buy rate for this model is only .00160 for consumers who qualify for its top credit tier. Try to get the dealer to use that factor to calculate your car's payment.

    A $400 discount off of MSRP and a marked up money factor isn't anything to write home about. I personally would consider shopping around if I was given this offer.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gugy68. As one would expect, Mini is not providing any lease support on the Countryman yet. As a result, if you were to lease one through its captive finance company right now, you would have to use its standard money factor. I believe that this may vary some by region, but the last time that I saw it it was around .00230 for consumers who qualify for its top credit tier.

    Mini's 36 month, 15,000 mile per year residual value for a base Countryman is currently 61%.

    The residual for an otherwise identical lease of a Countryman S is 59%.

    Car_man
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  • gb1663gb1663 Member Posts: 2
    Car_man,

    Thanks for the validation..I have seen quite the range in discount off of MSRP / premium above Invoice. What would you consider the appropriate amount off of MSRP for the 2011 Clubman?

    I really appreciate the advice.
  • jpacgpjpacgp Member Posts: 3
    thanks Car man,
    for a 12,000 lease (36mnth) I was quoted 67% and a mf of .0020. It sounds like they are marking it up, and he also said there was a markup. Sounds like I have to keep shopping. Will let you know if I get something different.
  • gotemallgotemall Member Posts: 4
    Doesn't sound like much of a mark up at that MF. It would mean they are marking it up .00005

    Doesn't sound like much of a mark up,
  • gotemallgotemall Member Posts: 4
    so you can get it down to .00195, sounds like they are rolling the acq fee into the MF, thats how they are getting the MF, I think
  • mikeytoomikeytoo Member Posts: 2
    I would appreciative if you could post the lease rates (residual & money factor) for 2011 Mini Cooper S Countryman with 15k miles per year at 36 months.
    thanks in advance,
    Mike
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, gb1663. I really am not intimately familiar with what the market is like for the Clubman right now. If I was interested in leasing one right now, I personally would shoot for a selling price of $500 to $1,000 over invoice and see what happens.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Mike. Mini's November buy rate lease money factor and residual value for a 36 month lease of a 2011 Mini Cooper Countryman S with 15,000 miles per year are .00160 and 55%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • obiwan1obiwan1 Member Posts: 42
    Can you please share 24 month rate info for a lease. Also any advice on pricing. Southwest florida thanks carman
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey obiwan1. I was just watching a Star Wars marathon with my son yesterday.

    To the best of my knowledge, Mini is not currently providing support on 24 month leases. If I am not mistaken, its special money factors are currently only available for 36-month terms.

    Car_man
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  • tromptromp Member Posts: 2
    I live in Orlando and I'm thinking about leasing a basic 2001 Cooper S. It has a sticker price of $24,200. I'm thinking a 36 month - 12K type lease with as little as possible down. What do you guys think the best possible lease rate could be on this?

    Thanks for your help on this. I'm trying to get it for about $300 +/- a month. Is that possible?">link title
  • tromptromp Member Posts: 2
    Bump :confuse:
  • scott31scott31 Member Posts: 292
    edited December 2010
    I'm very surprised that people are willing to pay a $925 acq fee to lease a Mini. I find that outrageous. If you roll it into the payment on a 3 year lease, that adds about $30 a month to your monthly payment. Crazy!

    I normally lease my cars, but when I got my Mini I financed it (via HELOC) because I refuse to pay that high fee.
  • kyfdxkyfdx Moderator Posts: 236,760
    The base fee to lease a MINI is $725.. Dealers are permitted to mark up the fee by $200.

    Almost every bank charges an acquisition fee... About the lowest that I see is $595... Unfortunately, you can't lease a car without paying it..

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  • midnightbluemidnightblue Member Posts: 22
    Hi Car_man,

    Has MINI released the December lease rates for 2011 MINI Cooper S Countryman All4, 36 mos, 10K miles per year? Also for 12K miles.

    Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi midnightblue. Mini has indeed published a lease program for the Countryman. Mini's December buy rate lease money factor and residual value for a 36 month lease of a 2011 Countryman S All4 with 12,000 miles per year are .00225 and 61%, respectively.

    The residual value for a lease with only 10,000 miles per year is 1% higher.

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  • dad2bedad2be Member Posts: 60
    What are the official money factors / residuals for a 2011 base Cooper hardtop? I'm finally thinking about selling my '99 Wrangler and saw a recent Mini advertisement for a base Cooper that got me in to the showroom. The deal is for the base model with Automatic and Premium package - MSRP of $23100. The payment is $199/mo with $2328 down plus $200 security deposit. The residual is listed at $15708, or 68% of MSRP. Trying to run these figures through the online calculators and it looks like the money factor is 0.0012, but that seems low compared to previous posts.

    My real question is that I want a model without an automatic and without the premium package. Are the money factors/residuals different for manual vs. automatic? Found one at the local Mini dealer with MSRP of ~$21000. Was expecting either a lower down payment or a lower monthly payment, but they told me the special was only for the automatic, and the payment may be higher for the manual. Does this make sense?

    Thanks.
  • dad2bedad2be Member Posts: 60
    Forgot to include some important terms of the lease - 36 months and 10k miles per yer.
  • fgaz1fgaz1 Member Posts: 15
    Hey carman...going to war here in the next couple days ( with the dealer that is) . need to know mini money factor for top tier and residual for clubman s for 36 month lease....10,000 a year. also....i am aware that most dealers are not discounting countrymans....but most are discounting the clubmans..is there a sell price to work towards while trying to figure lease...my clubman s total will be 33.000....thanks in advance for the help with numbers....Freddy
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings dad2be. Mini's December buy rate lease money factor and residual value for a 36 month lease of a base 2011 Cooper Hardtop with 10,000 miles per year are .00170 and 60%, respectively.

    The transmission that this car has does not have any impact upon its lease program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go Freddy. Mini's December buy rate lease money factor and residual value for a 36 month lease of a 2011 Clubman S with 10,000 miles per year are .00160 and 58%, respectively.

    Car_man
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  • ajsovenajsoven Member Posts: 1
    Car_Man,
    Very sorry ... but when I run these Countryman lease numbers I come up with a seemingly crazy monthly payment ($600+). Have never leased before but I think I know how the calculation is done. I am assuming a MSRP around $31k. Thanks for setting me straight (if you can).
  • midnightbluemidnightblue Member Posts: 22
    Hi again Car_man,

    Well my 2011 Countryman S All4 has just been unloaded from a carrier in NY and I expect to pick it up late this week or early next week.

    When do the December lease rates expire?

    When do you expect January rates to be published?

    Still looking at 36mos lease with 10K or 12K miles per year and would like to know captive lease rates (residual percentage and money factors).

    Thanks again for all of your help!
  • midnightbluemidnightblue Member Posts: 22
    I'll be picking up my 2011 MINI Countryman S ALL4 early next week and I will be leasing. I''ve read a few things on this forum that I would like someone to corroborate if possible. I want to make sure I get the skinniest deal possible on leasing especially considering I am paying full MSRP for the car.

    So, can anyone confirm the following in regards to leases from MINI Financial:

    Acquisition Fee
    I have been quoted an Acquisition Fee of $925. Is it true that the dealer cost is actually $725 and dealers are permitted to mark up the fee by as much as $200. Are people getting this for $725?

    Acquisition Fee Waiver
    MINI will waive its Acquisition Fee entirely in exchange for an increase of .00035 in the money factor.

    Security Deposit Waiver
    MINI will waive its security deposit requirement in exchange for an increase of .00015 in the money factor.

    Seems to me that the Acquisition Fee Waiver is a no brainer if the dealer insists on $925 but if you can get it down to $725 it is not as good a deal.

    Anyone have direct experience with this?
  • kyfdxkyfdx Moderator Posts: 236,760
    Everything you've stated is true...

    However, if you do the math, you'll probably find that you are better off paying the acquisition fee, even if it's marked up...

    Also, if they are marking up the fee, you can bet they are marking up the money factor, as well...

    Also, you'll come out ahead making the security deposit, rather than taking the MF waiver bump.... you get the security deposit back at lease end..

    regards,
    kyfdx

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