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MINI Cooper Lease Questions

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  • skobolaskobola Member Posts: 207
    This is kind of unsettling that there is no consensus for this. In addition, I have missed to specify again that I was looking for numbers for Mini Cooper S Convertible with 10k miles per year. The dealer that I contacted through Zag told me that MC S Convert. in March has a special promotion and that it has the residual of 55% and the money factor .00210 for 36 months, which otherwise was 54% and .00230. Unfortunately, these numbers give a payment of about $500 per month for a $30k car, which I find ridiculous, as the monthly lease payment for a $40k BMW 128i Convertible would be about $10-20 less. To me it appears that neither BMW nor Mini are that desperate to sell cars, which, I guess, is good for them but bad for us (buyers). Well...
  • phanspephanspe Member Posts: 1
    I'm about to close on a lease for a 2011 Cooper and was hoping to get feedback on whether I'm getting a good deal.

    3 year/10k

    Selling Price: $21,550 (MSRP: $22850)

    Residual: 68%

    Money Factor .0017

    Thanks!
  • airecken1airecken1 Member Posts: 2
    Hi Car_man,

    What is the money factor and residual for a Mini Cooper Countryman (not S) 15k 36 months?

    Thanks,
  • pdc3pdc3 Member Posts: 1
    Dear Car Man,

    Could you please tell me the April lease money factor and residual value for a

    2011 Mini Cooper Hardtop
    36 months
    12K and 15K

    Many thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings airecken1. Not surprisingly, Mini is not currently providing any lease support on the Countryman. As a result, if you were to lease one through its captive finance company, you will have to use its standard lease program. I believe that its standard money factors vary by region, but they should be around .00200.

    The 36 month, 15,000 mile per year residual value for a 36 month lease of a base 2011 Countryman with 15,000 miles per year is 61%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, pdc3. Mini's April buy rate lease money factor and residual value for a 36 month lease of a base 2011 Mini Cooper Hardtop with 15,000 miles per year are .00170 and 65%, respectively for consumers who qualify for its top credit tier.

    The residual value for a lease with only 12,000 miles per year is 2% higher.

    Car_man
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  • zoomer121zoomer121 Member Posts: 1
    Looking to lease a Mini Clubman.10k lease 3 year.Price of vechicle msrp is $23550.00
    Adjusted cap cost is $21550 .L.E.V. is 69%, money fact sell rate .0024 total sales tax $925.00.
    Dealer is asking for $3410.00down monthlly payment $237.96( this includes the tax and all fees).
    Is this a good deal or should I travel 150 miles to price another Mini.

    Thanks in advance
  • bmwi6bmwi6 Member Posts: 2
    Hi Car Man,

    Can you tell me what the lease rates are for may 2011 on a cooper hardtop, cooper s hardtop, and john cooper works hardtop with 15k a year. 36 months. Thank you so much.
  • bbkg79bbkg79 Member Posts: 7
    Good morning Car Man and everyone, I'm looking for lease figures on the 2011 Countryman and Countryman S in the 36/15k bracket?
  • caribbeanbluecaribbeanblue Member Posts: 1
    I am also looking for the buy-rate on the 2011 Mini Cooper S Hardtop. I was at the dealership yesterday and feel like I got the run-around because they would not tell me what the current buy-rate is for the money factor. It is my understanding that it was .00170 in April on the same model. Did it change for May or remain the same? I intend to do a 36 month lease with 12k miles per year and I want to ensure that I am getting a good deal. Thank you in advance.
  • jaylibjaylib Member Posts: 1
    Hello Car Man.
    Looking for lease figures for 2011 Countryman S (MSRP $30,200). Planning on a 36 Month with 12K miles per year. Thanks
  • azkals911azkals911 Member Posts: 4
    Hey Car Man

    Could you please tell me the May lease money factor and residual value for a

    2011 Mini Cooper Hardtop
    36 months
    12K and 15K.

    The website has a $199 promotion with 2799 due at signing. Is this any good?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bmwi6. Mini's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Cooper Hardtop with 15,000 miles per year are 00170 and 65%, respectively.

    The numbers for an otherwise identical lease of an '11 Cooper S Hardtop are .00180 and 57%.

    The numbers for an otherwise identical lease of a John Cooper Works Hardtop are .00185 and 48%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings bbkg79. Mini is not currently providing any lease support on the Countryman, which as I understand is selling very well. As a result, if you were to lease one through Mini's captive finance company, you would have to use its standard lease money factor. I believe that this number varies by region, but it should be between .00185 and .00200.

    Mini's current residual value for a 36 month lease of a 2011 Countryman with 15,000 miles per year is 60%.

    The residual for an otherwise identical lease of an '11 Countryman S is 58%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Caribbeanblue, Mini's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Mini Cooper S Hardtop with 12,000 miles per year are .00180 and 59%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jaylib. Mini is not currently providing any lease support on the Countryman, which as I understand is selling very well. As a result, if you were to lease one through Mini's captive finance company, you would have to use its standard lease money factor. I believe that this number varies by region, but it should be between .00185 and .00200.

    Mini's current residual value for a 36 month lease of a 2011 Countryman S with 12,000 miles per year is 60%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, azkals911.

    Mini's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Mini Cooper Hardtop with 15,000 miles per year are .00170 and 65%, respectively for consumers who qualify for its top credit tier.

    The residual value for a lease with only 12,000 miles per year would be 2% higher.

    Car_man
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  • jquiltyjquilty Member Posts: 10
    Hi Car_Man,
    I'm looking for the June 2011lease rates on a Mini Hardtop, 3 years 12k and 15k.
    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, jquilty. Mini's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Mini Cooper Hardtop with 15,000 miles per year are .00170 and 65%, respectively for consumers who qualify for its top credit tier.

    The residual value for a lease with only 12,000 miles per year is 2% higher.

    Car_man
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  • jquiltyjquilty Member Posts: 10
    edited June 2011
    Just completed lease on 2011 Mini Hardtop w auto, premium package , bluetooth and center armrest.
    $280.02/ 36 mo/ 12KPY/ $23850- MSRP

    Out of pocket:
    1st payment $280.02
    Sec deposit 300.00
    Dealer doc fee 249.00
    On line reg fee 7.50
    Tire tax 7.50
    Bank fee 725.00
    Reg fee 252.50 (3 years)
    Money down 1000.00
    Tax on money down 70.00
    _______
    Total $2891.52

    Money factor .0017
    Residual $15979.50 (67%)

    We bought in Monmouth County, NJ. Needed the car in a specific color and within a week of our first visit to dealer. In order to get the color we had to take a car with more options than we would have wanted. They found it in Georgia and it's arriving tomorrow (2 days late, but still pretty good). Dealer was helpful, but made it clear as soon as I tried to negotiate, that they aren't willing to deal at all on price due to low inventory and high demand (especially automatics). Thank you Car_man for the leasing rates. They helped me shave almost $20/month off the original monthly cost they quoted.
  • carsearch16carsearch16 Member Posts: 4
    Is the bank fee standard? I talked to one dealer who quoted the $725 and another who quoted $925?

    Also - did they charge you for shipping the car from Georgia? I have a dealer trying to charge me for that....
  • kyfdxkyfdx Moderator Posts: 236,720
    $725 is the base fee... BMWFS allows dealers to mark it up by $200 (Dealer keeps 70%, BMWFS gets the rest..)

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  • apdspiderapdspider Member Posts: 61
    What is the RV and MF for a 2011 Convert MSRP $28000? What should I expect my payments to be? I was given by the dealer $3K down (includes some Cap cost ded...not much) and a payment of $499 plus tax.

    Thanks
  • prgcoopsprgcoops Member Posts: 1
    Car Man,

    Can you tell me the June money factor and residual value or a Clubman S, 36 month, 15k

    Thank you
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings apdspider. Mini's June buy rate lease money factor and residual value for a 36 month lease of a base 2011 Mini Cooper Convertible with 15,000 miles per year are .00180 and 53%.

    This car's payment will depend upon what its selling price is. At full MSRP, you're looking at a zero down, pre-tax monthly payment of around $443. A $500 discount would lower the payment to $428. A $1,000 discount to $414.

    Something's clearly wrong with the payment that you were quoted.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go prgcoops. Mini's June 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 .00170 and 62%, respectively for consumers who qualify for its top credit tiers.

    Car_man
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  • marisaqactressmarisaqactress Member Posts: 2
    hey Car Man & Kyfdx!

    July is here - and i can't wait to hear if there are any promotions announced for Mini Cooper S Convertibles?!!

    Also, do you know what the current Buy Rate money factor is?

    I am looking to lease an Ice Blue Mini Cooper S Convertible with a black top. Upgrades I'm looking for are: polar beige leather interior, convenience package, premium package, automatic transmission.

    What do you think my odds are for finding this on the lot somewhere?? I would love to get it now rather than custom order and wait 3 months (my car is on the verge of dying, so that is why).

    Finally - where can I find a current (and accurate!) invoice price?

    Thank you SO VERY MUCH in advance - I am thrilled to finally be taking steps to getting my DREAM CAR - and i just want to make sure i'm doing it right!! :o)
  • azcarbuyerazcarbuyer Member Posts: 1
    Can you tell me the July residual and money factor for a 2011 Hardtop S with 15,000 miles, 36 months.

    Thanks!
  • marisaqactressmarisaqactress Member Posts: 2
    hey car man! HELP!!!!

    i've been told i cannot order a 2011 convertible mini with auto tran - and that i HAVE to order a 2012. i want to put in a lease order, but nobody has Money Factor numbers they can offer me officially - can you post here if you find out the MFS base rate money factor for the new 2012 convertible S cooper? thanks so much!!!
  • vc_bklynvc_bklyn Member Posts: 1
    Hello Car Man,

    Is there any info yet on money factor and residual for 2012 models? Looking to lease a new Clubman w/ auto for 36 mo 12K/ year
    Thanks!
  • pohoehoepohoehoe Member Posts: 1
    edited August 2011
    We leased a 2011 Mini Cooper Convertible (Base Model) on 7/31/11. The MSRP was $29000 (included some options), automatic, pepper white, 36 months lease, with $4k down, 10k mile a year, came down to $330 a month (including tax). While at the dealer we called another Mini dealer in the south bay for comparison, and they told us they can't beat it. However, after we got the car, we are still skeptical about it. What if the other dealer has communicated with the dealer we were at, or knows them really well, and did them a favor? Btw, this is in NorCal - Bay Area.

    Appreciated any comment on if this is a good or bad deal? If bad, how bad? Thanks for your feedback!!
  • tonyrockytigertonyrockytiger Member Posts: 1
    Hi Car Man,

    Do you have the August residual and money factor for a 2011 Cooper S, 10,000 annual miles at 36 months?

    Thanks!
  • dpsilvadpsilva Member Posts: 2
    edited August 2011
    Hey Car man,

    I was wondering if you could tell me what I can expect to pay in lease payments for a 2011 Cooper S with a MSRP $27500, 36 months, $6k down and 10k miles/year.

    A MF and RV would be helpful as well,

    Thank you in advance.

    Dan
  • otto_manotto_man Member Posts: 3
    Hi Car_man,

    Do you have the residual and money factor numbers for the following two vehicles?

    2012 Mini Cooper-S hardtop with 15,000/yr
    2012 John Cooper Works hardtop with 15,000/yr
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I have seen the info for 2012 models, vc_bklyn. Mini's current buy rate lease money factor and residual value for a 2012 Cooper Clubman with 12,000 miles per year are .00170 and 61%, respectively for consumers who qualify for its top credit tiers.

    Car_man
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  • mc82mc82 Member Posts: 1
    Hi..

    I just got home from the dealer and this what I was quoted:

    MSRP $25425
    12k a year/ 36 months
    Money factor: 0.00225
    Residual: 60%
    Nothing down except inception ( they say is around $1,500 )

    430 a month plus tax.

    I believe these numbers are too high, what do you think???
    It was late at night and maybe the guy just didn't want to sell it
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tonyrockytiger. Mini's August buy rate lease money factor and residual value for a 36 month lease of a 2011 Cooper S with 10,000 miles per year are .00170 and 63% respectively for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Dan. This car's lease payment will depend upon what its selling price is. For now I will assume that you are being given a $1,000 discount. Let me know the exact selling price that you are shooting for and I can use that.

    According to my calculations, if you were to lease a 2011 Mini Cooper S that has an MSRP of $27,500 and a selling price of $26,500 through its captive finance company right now for 36 months with 10,000 miles per year, your zero down, pre-tax monthly payment would be around $330 for consumers who qualify for its top credit tiers.

    The numbers for an otherwise identical lease with a $6,000 capitalized cost reduction would be only $153. Having said that, it is definitely in your best interest as a consumer to put as little money down as possible when leasing. Consumers who make large down payments when leasing risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered.

    I used a money factor of .00170 and a residual value of 63% to arrive at the above payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello otto_man. Mini's August buy rate lease money factor and residual value for a 36 month lease of a 2012 Cooper S Hardtop with 15,000 miles per year are .00170 and 58%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2012 John Cooper Works Hardtop are .00175 and 50%.

    Car_man
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  • dpsilvadpsilva Member Posts: 2
    That was the most thorough answer I have ever received. Your the man Car man!

    Quick question: How do you receive a $1000 discount on MSRP using the captive finance program?

    I unfortunately qualify for probably the lowest tier of credit since I have just graduated college and I have never used credit in my entire life. Would you recommend financing or leasing in my case?

    Once again thank you very much for your time.
  • jedieby7jedieby7 Member Posts: 1
    Hey Car man,

    I was wondering if you could tell me what I can expect to pay in lease payments for a 2011 Cooper Hardtop with a MSRP $27374. I'm looking at 24 or 36 months. I would like to put less than $1,000 down. I also need to have a lease that's going to let me put between 20K-25K miles/year. I've got quite a commute.

    A MF and RV would be helpful as well,

    Thank you in advance.

    Eb
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome dpsilva. There's nothing wrong with leasing or financing. Leasing will provide you with lower monthly payments, but of course you won't own your vehicle at the end of your lease and you will if you choose to finance it.

    The selling prices of leased or financed vehicles are negotiable, just as if you were paying cash for them. Perhaps a $1,000 discount is a little too aggressive, but you should shoot for as large a dealer discount as you can get.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jedieby7. Mini's current buy rate lease money factor and residual value for a 24 month lease of a 2011 Cooper Hardtop with 15,000 miles per year are .00175 and 64%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36 month lease are .00170 and 65%.

    I believe that 15,000 miles per year is the highest mileage allowance that Mini publishes residual values for. If you need to drive more than that you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Your monthly payment will depend upon what sort of dealer discount you are able to negotiate. For now I will assume $500 off. Let me know if you want something different.

    According to my calculations, if you were to lease this car for 24 month with 15,000 miles per year, its zero down, pre-tax monthly payment would be around $468. The payment for an otherwise identical 36 month lease is a much more attractive $329.

    Car_man
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  • clubman2clubman2 Member Posts: 1
    I'm meeting with the dealership on Friday to order a 2012 mini cooper clubman. This will be my second clubman with this dealership. They have done an extensive amount of warranty work on my first clubman. I'm way under mileage by approximately11,000 miles (lease up in January). The quote they gave me was $316 with tax for a car costing $26750. 36 months and 10,000 miles a year. I'm willing to put up to $3,500 down to get the monthly lease under $300 with tax. This seems high as when I use the Mini cooper build a car, the car costs 27,300 (without destination fee) and their system gives me a monthly lease of $267. without tax. My credit rating is high.

    Any help would be greatly appreciated!
  • spudmobilespudmobile Member Posts: 4
    Any word yet on the residual and money factor are from the factory for the 2012 Mini Cooper? Thanks in advance!
  • pezradarpezradar Member Posts: 7
    Hi Car Man -

    Have you heard or gotten any information regarding the new MINI Coupe (This is the new model that is a 2 seater that MINI has now started taking orders on).

    I have an order for a 2012 MINI Coupe S at my dealership that will be delivered in early November. Not planning on any discounts since it is a brand new model/car.

    MSRP - 31,150

    I'm looking at 36 or 48 month leases.. 12,000 - 15,000 miles per year.

    I do plan on putting down about 2,000 - 2,500 per month to lower the payments.

    Any info you may have would be greatly appreciated! Thanks! :)
  • bmwi6bmwi6 Member Posts: 2
    Hi Car Man! Can you please tell me what the residual and money factor is on a 2012 Cooper S and Jhon Cooper Works for 36 months and 15,000 miles a year. Thank you very much!
  • benedick96benedick96 Member Posts: 3
    Hello.
    Does anyone know what I should expect for Money Factor and Residual percent for a 36 month lease with 10,000 miles per year (in Southeastern PA) for:

    MINI Countryman - assume MSRP of $24,700
    MINI Countryman S - assume MSRP of $28,050

    I'm assuming, since these vehicles are so popular, that I should not expect a discount from MSRP, correct?
    Also - do you know if there are any up-front charges with the MINI lease? (Finance charges).

    Basically, I want to know what the "Money due at signing" and the "monthly payment" would be ... along with the MF and Residual value used to calculate them.

    thanks
    -Benedick96
  • msingletonmsingleton Member Posts: 4
    edited October 2011
    Hi all,

    I was hoping someone might be able to share the current residuals and money factors for 2012 Cooper Hardtop Base for 10/12/15K mile 36-month leases (assuming top tier credit). My Cooper is being picked up this Saturday, and I have a feeling the dealer is marking up the money factor (was quoted at .00170 last month, but now they say it has gone higher and I don't believe them).

    Thanks in advance for any help you may be able to provide!
    Matt
  • mini2012mini2012 Member Posts: 9
    Hi everyone

    I was wondering if anyone had any information on the 2012 Mini coupe. I am planning to go to the dealership tomorrow and would appreciate if anyone could tell me the current residual/money factor for it. Also should I be expecting to get anything off the MSRP since it is a new model.

    Also what is the current residual/money factor for a mini cooper hardtop and are there any incentives/manufacturer rebates going on.

    Thanks in advance guys.
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