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MINI Cooper Lease Questions
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The dealer has agreed to use the buy rate money factor but has not yet responded to my request on the $725 acquisition fee nor have they confirmed that their is an acqusition fee waiver.
I agree that the security deposit waiver does not make sense financially.
May I ask what your source is in case my dealer disagrees?
Of course, now the dealer will want to make up that extra $200, somewhere... lol..
I don't have a source that you can quote... The waivers are pretty common knowledge, and I'm certain I heard it from a BMW sales professional...
Almost all states tax the acquisition fee... and, tax on leases is 3% higher than the regular sales tax in PA.. Of course, if you use the waiver, your payment will be higher and that will be taxed... so, they've got you either way, there...
regards,
kyfdx
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Any chance you have the Jan '11 rates on a 36 mo/15k for the Cooper S hardtop, Clubman S and Countryman S?
Not sure which I can afford!
Thanks in advance!
Cooper Base (red)
auto trans
Roof
Bluetooth
Selling price 21965.11. I have a trade in with 1805.48 to deposit.
Monthly payment is 255 (with 9.75% tax) MF .0017. Residual is 68% (3 yr lease with 10k/yr).
Is this a good deal?
The money factor is fairly high but typical for a new model that is in demand.
Car_man
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The residual value for a lease with only 10,000 miles per year would be 1% higher.
Car_man
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The numbers for an otherwise identical lease of a 2011 Clubman S are .00180 and 59%.
The numbers for an otherwise identical lease of a 2011 Countryman S are .00225 and 59%.
Car_man
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I was just at a dealer and lease info given to me was
AF-895
MF- 0.00220
RV- 59%/15k and 61%/12k
Does this mean that the dealership has "bumped" the AF and MF
Forgot 2011 Clubman S
Thanks
I'm new to this forum and have leased several BMW's and know the ins and outs of that, but this is the first Mini lease I've worked on. I was at Nick Alexander Mini today and had an annoying experience--the salesman quoted the wrong money factor and residual and after some back and forth we decided to do a little more homework and check on some things. So here's what we came up wit in the negotiation:
2011 Cooper S Hardtop, Laser Blue w/sport, armrest, ipod/bluetooth, moonroof--MSRP $27,200.
We pre-negotiated to $26,200 on phone.
At 10K miles, with $725 acquisition fee rolled in and .00215 MF, payment was about $390
At 12K miles, with $725 acquisition fee rolled in and .00215 MF, payment was just over $400
residual is .62 for 10K and .61 for 12K (last months were .65 and .64 so we missed out). Based on the residual and money factor the dealer quoted, we expected the payment to be closer to $350, but I'm thinking we can get closer to invoice and that will help.
Any thoughts on what a good negotiated price on this car should be based on the $27,200 MSRP? I saw a poster who went to the same dealer recently and got a $28,200 MSRP car to $26,000, or $500 over invoice and I'm thinking of going back and saying we'll do the deal at $25K or thereabouts.
About to finance a Mini Countryman -- Does my good track record with BMW Financial Services help in my deal with Mini Financial Services -- (i.e. any prefered rates, finance rate reduction, etc)?
Thanks!
So, your good credit experience with them will certainly carry over.. Not sure about any loyalty bonuses or MF reductions, though..
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Car_man
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Mini's January 36 month buy rate lease money factor for the 2011 Clubman S is .00180. If the dealer tries to charge you more than that, they likely are marking your vehicle's money factor up.
Car_man
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The sales manager told me that there was no such money factor. He said MINI's MF for the countryman was .00280, period.
I had little leverage as I had placed a down payment on the car months before (I was told that they would offer me the standard rates when it was time to make the deal.)
Was I ripped off?
Not surprising... "standard" rates means they mark-up the money factor for everyone.... or, it means whatever they want it to mean..
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For the record, I obtained the buy rate on my Countryman (.0025) plus was able to secure the Acquisition Fee waiver for an adder of .00035 as I recall.
Could you please give the MF/Resid/DAF/ on MINI Convert S and JCW for 3years/12K.
I've been leasing a Volvo S80 for 3 years and know the game pretty good.
I'm not too keen on the having to give it back with nothing to show in three years, but getting into another lease may be my best option.
I want to look at the 2010 and 2011 years of the MINI convertible.
Is there a difference in the money factors in the model years?
Cheers,
Bill
I was wondering if you have buy rate lease money factor and residual value for a 36 month lease of a 2011 Cooper Convertible with 10,000, 12,000, and 15,000 miles per year. January is almost over, not sure if it's better to wait until February... Advice?
Thanks!
but you can always walk to the next dealer (hopefully you have more than one Mini dealer in your town) and try to get your deposit back from the first dealer. It will be a hassel but it will certainly beat thinking that you have been taken every day that you drive the car... Realistically deposit mean nothing in this environment. Dealer is not going to hold the car for anyone whether you have deposit on a new car or not. they will sell the car to the highest bidder at the moment and worry about the client with deposit later...
Either way, I'm looking to lease a 2010 MINI Cooper hardtop with premium package and paint- MSRP of $23,600. Edmunds true market value is $22,246.
Looking at previous posts, With $2.5-3k down, I should be in the very low $200s monthly for this correct?
And what about a balloon option vs. lease? Should the terms be similar?
The numbers for an otherwise identical lease of an '11 Convertible JCW are .00225 and 47%, respectively for consumers who qualify for its top credit tier.
You're better off leasing a 2011 model than a 2010 model at this point.
Car_man
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This car's 12,000 mile per year residual values are 2% higher and its 10,000 mile per year residual values are 3% higher.
Car_man
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Are there still any 2010 models out there. I was under the impression that most Minis are 2011 models at this point.
Car_man
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Dealer just quoted me 67% residual which seems good. I'm looking at the APR on the balloon option of 5.05%, so money factor of .0021 (divide by 2400, correct?) At $22,200 selling price, I got quoted a monthly payment of $218 after tax+ fees of $1700 and my down payment of $3000. No AF on Balloon I hope.
I think it''s a decent deal but I keep coming up with a lower monthly payment of around $205. What do you think?
I was wondering the February buy rate lease money factor and residual value on a 2011 MINI Cooper S Countryman (FWD) for a 36mo lease for both 12k and 15k mi. Have these numbers improved into Feb?
Thank you!
Sam
What is the current MF and Residual % for Countryman? I got quoted 0.00245 and 59% (for 15k miles). Reading the previous post, it seems about right, but would like to confirm with da Car_Man!
Thanks!!
Any ideas on how Tier 1, 2, and so forth are decided? What is the credit score range?
Thank you!!
Car_man
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Mini's February residual value for a 36 month lease of a 2011 Countryman S FWD with 15,000 miles per year is 59%.
The residual value for a lease with only 12,000 miles per year is 2% higher.
Car_man
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Car_man
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Thanks in advance
Thank you! :confuse:
First, let me say thanks for all the help you've provided over the years - I've never posted before, but I've found this forum an amazing resource for each car I've leased.
Could you please tell me the buy rate lease money factor for a Countryman All4, 12k miles, 48 month lease?
Also, FYI (and for anyone else looking), according to dealer, residual is 54% (and they are quoting me a money factor of 0.0028 which seems absurdly high).
Thanks!
Am I just clueless and can't see how this is accurate?
Thanks for your help!
Cap $29,550
Down: $2000
Residual: 63%
MF: .00365
Monthly: $448
Forgive my ignorance but .00365??? Is that not ridiculous?
Info according to Car_Man. You might want to search the previous threads as it might have the exact information you are looking for, even if it may not be current
Mini S models are not lease friendly it seems.
I've been going off of those numbers too, but a dealer told me in March the figures were 54% residual with 0.0022 money factor.
Is Car_Man a dealer? Can I lease from him? I like his numbers WAY better!