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MINI Cooper Lease Questions

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  • ps2121ps2121 Posts: 1
    Hi,

    I visited a dealer and got some quotes from them. Could anyone please help me determine if these are good? They also rolled in the 7.25% tax (IL) and title reg fee (~$250).

    All 12K miles/39 month

    Mini Base (MSRP)
    - MSRP: $22,600
    - $1000 down: $ 289/mo
    or $3000 down: $ 234/mo

    Mini S
    - MSRP:
    - $1000 down: $353/mo
    or $3000 down: $299/mo

    Thanks a lot.
  • jwebtxjwebtx Posts: 5
    edited July 2010
    i am in desperate need of the current Texas buy rate and mf for the cooper s w/ 10k and 12k miles per year for 36mos. We are looking at cars with and without the premium package if that makes a difference. Many thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi einbayer. Mini's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Cooper with 15,000 miles per year are .00140 and 63%, respectively.

    The numbers for an otherwise identical lease of a 2010 Cooper S are .00140 and 60%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go jwebtx.

    Mini's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Cooper S with 12,000 miles per year are .00140 and 62%, respectively.

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

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • hooch7hooch7 Posts: 4
    Hi Carman,

    Thanks for all your contributions. These forums are so extremely helpful in car shopping. Can you post the august money factor and residual for a 2010 mini clubman S with 15k miles.

    Thanks for Everything!
  • Hello I'm a newbie here. Just went to the Hassel Mini dealer and thought that I got a great deal, let me know what you guys think.

    MSRP 28,100
    Capitalized Cost 26,604.43
    Sales Tax for NYC 1,186.91
    Total Cap 27,791.34
    Residual 17,422
    Total Depreciation 10,369.34

    Advanced Payment 345
    Security Deposit 350
    Other Fee 75
    Total Drive Off 790

    39 Months at 12k miles for 345 all in.

    They had another vehicle with MSRP of 26,750 for 329 all in. which is a better deal? are both good deals?
  • delta737hdelta737h Posts: 603
    edited August 2010
    sparkangelo,

    My forensic analysis provides the following results...

    MSRP........................................................ 28,100.00

    Sell Price................................................... 26,604.43

    Amounts Financed
    NY Sales tax @8.875%............................... 1,186.91

    Gross Cap.................................................. 27,791.34
    Cap Reduction............................................ 0.00
    Adjusted Cap............................................. 27,791.34

    Residual Factor.......................................... 62%
    Residual Value........................................... 17,422.00

    Money Factor............................................. 0.00175
    Term.......................................................... 39

    Monthly Payment....................................... 345.00
    Pre-Tax Payment....................................... 312.49

    NY Sales Tax............................................. 8.875%

    All your data was correctly calculated, although, I could be a few pennies off due to rounding convention. The two most important items in any lease transaction are the selling price and money factor. If you qualify, be sure your money factor is the buy rate which is the rate with zero dealer profit (i.e., 0% reserves).

    I have no idea how good your selling price is without doing research. You should check Edmund's invoice pricing and incentives if you haven't already done so. Also check...

    http://cars.overstock.com/combined-new.service?makeId=2255&postalCode=10023

    for competitive low prices in your area.

    John
  • delta737hdelta737h Posts: 603
    edited August 2010
    You said...

    "They had another vehicle with MSRP of 26,750 for 329 all in. which is a better deal? are both good deals?"

    Given only an MSRP and payment, not even God could answer those questions. Too much information is missing.

    John
  • Hi Car Man.

    As always thanks for the awesome info. One thing I noticed is a difference between the MF you quote and that paid by some recent posters (e.g. post 342 of 0.000175).

    I think I worked out that the difference is mostly because no acquisition fee was paid (it was priced into the MF at 0.00035 per another poster) I say mostly because the term is also different 36M vs 39m.

    Is this correct?

    General question - are you able to post the MF both with and without fee and also post the amount of fee?
  • sturner6sturner6 Posts: 1
    edited September 2010
    Car Man, You seem to be the resident Guru when it comes to Lease rates. Can you possibly tell me the money factor for the 2011 Mini Cooper-S on a 36 month/12k miles per yr lease? Or if it's just too early to know, do you think the MF apparent in the quote below is reasonable or not?

    Dealer confirmed that residual was 62% but reverse-engineering the quote I got gives me a Money Factor at 0.002083 which seems pretty high (5%) even for a new model year.

    Here are the stats:
    MSRP = $26250
    Sale Price = $25200
    ==================== 36 month lease w/ 12k miles per year
    Acquisition Fee = $925
    Base Payment = $375.86
    Tax = $22.55
    TTL Monthly Payment = $398.41
    RESIDUAL = $16399 = 62%
  • You're very welcome, hooch7. Mini's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Mini Cooper Clubman S with 15,000 miles per year are .00190 and 55%, respectively for consumers who qualify for its top credit tiers.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi pjsage. You are correct, Mini will waive its acquisition fee requirement in exchange for an increase of .00035 in the money factor that is used to calculate a vehicle's monthly payment.

    According to the latest information that I have seen, Mini's September buy rate lease money factor for the 2010 Cooper S is .00190 for consumers who qualify for its top credit tiers. This factor is with the payment of the acquisition fee at lease signing.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I'd be happy to help you out, sturner6.

    According to the latest information that I have seen, Mini's September buy rate lease money factor and residual value for a 36 month lease of a 2011 Mini Cooper S with 12,000 miles per year are .00230 and 57%, respectively for consumers who qualify for its top credit tiers.

    Mini isn't providing any support on 2011 models yet. .00230 really isn't that bad for a standard money factor. I've definitely seen much worse.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car_man, you are the man here, so I must ask you!
    i've seen rates for 2011 coopers floating around, but not very clear on the 2010 remaining stock. Could you help me with the rates for cooper S 15k/36m? seems like paying the acquisition will drop the MF down, so I don't mind pay that.

    Thanks in advance!
  • Hi...I'm in the market for a 2010 Mini Cooper Convertible and am working with two dealers and neither is too keen on providing me with too much information. I know I qualify for the BMW Financial’s Elite status.

    I need to know the residual and money factor on two different cars: the 2010 Mini Cooper Convertible base model and also a 2010 Mini Cooper S Convertible that is an executive demo. I have been unable to find the money factor for October, but I’ll settle for September number in order to have an idea of what I’m looking at.
    Any help would be greatly appreciated!
  • Also, forgot to mention...12K/36months
  • podpropodpro Posts: 3
    MINI Cooper (base model hardtop)
    $800 out of pocket
    $340 a month
    36 months
    10k a year
    Automatic
    Moonroof
    Automatic Climate Control
    Suggested price = $23,850

    I was shocked at how much money the "S" model and/or convertible was here in NY. Any feedback on the deal above would be appreciated.

    The one thing I don't like about the base model is the 15" tire and rims. I was told that these can't be swapped out. Sounds weird, no?

    Also, will I notice a BIG difference between the drive of an "S" and the base model? Is it simply better acceleration and top speed?I drove the base model and was a bit underwhelmed.
  • merckxmerckx Posts: 565
    Power is very subjective.For me, even though I am a salesman at a MINi dealer and am around them every day, I actually prefer the base Cooper(manual shift). I don't find it the least bit pokey; moreover, I find the turbo whistle on the S a little tedious. But, as I said, power is very subjective.
    And avoiding run-flats by specing the 15" wheels is very appealing to me.
  • podpropodpro Posts: 3
    Can you elaborate on what you mean by "And avoiding run-flats by specing the 15" wheels is very appealing to me."?

    The 15" tires have me worried that I'll feel every little bump in the road...
  • merckxmerckx Posts: 565
    The standard 15" tire is the only one in the MINI line that isn't a run-flat.
    Some of the guys at the store maintain a bigger wheel will give a better ride. But the shorter,and therefore stiffer sidewall of a larger tire has to give a slightly rougher ride.
  • kyfdxkyfdx Posts: 29,951
    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).

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • 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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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!
  • 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.
  • 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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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.
  • 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: !

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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!
  • 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!
This discussion has been closed.