Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





MINI Cooper Lease Questions

1192022242527

Comments

  • dammitjerrydammitjerry Posts: 2
    edited July 2012
    Hello

    I have never leased a car before so i was hoping you take a look at the deal I have at Long Beach Min (CA)

    Price
    $22,700
    Exterior: White Silver Metallic
    Engine: I-4 cyl
    Interior: Carbon Black
    Model Code: 12MA
    MSRP: $22,700
    Stock Number: CT542050
    Transmission: Automatic
    VIN: WMWSU3C58CT542050

    Featured Equipment

    4.103 Axle Ratio
    Black Roof And Mirror Caps
    Bluetooth & Usb/Ipod Adapter
    Center Armrest
    Transmission: 6-Speed Steptronic Automatic
    Wheels: 15' 5-Star Twin Spoke Alloy

    I am coming in with a 2500.00 check. 209 (plus tax) a month on a 36 month lease. 10k miles

    It all seems so easy I don't know if there is anything more I should be asking for.

    thank you in advance for your help.
  • prabsriprabsri Posts: 3
    Car Man,
    MSRP is $23,700 , Saleprice is $23,300, 0 acquisition fee, 0 security deposit, license fees $287, residual is 66%
    12,000 miles a year , $500 total drive off , money factor 0.00180, monthly payment is $307.28

    Is this a good deal for a Base Mini Hardtop?

    Thanks in advance.
  • mandakismmandakism Posts: 1
    Its a base model manual transmission msrp $25,900, the salesman says he's taking off 1,900. He says I'm getting a money factor of .00180 and residual % of 57. For 10k miles says the best he can do is $373 with $1,500 total out the door. Is this a good deal? Thanks!
  • ellaaramyanellaaramyan Posts: 1
    edited July 2012
    Sorry but LeaseCompare.com gave me a monthly payment that is $214 higher than what I got on my BMW 535i yesterday.

    Use the following LeaseSmart lease calculator before you lease or finance your next car. Dealers use it, why shouldn't you? http://itunes.apple.com/us/app/leasesmart/id444941213?mt=8 OR http://www.LeaseSmartApp.com
  • I'm being quoted 0.00205 and 57%

    Thank you!!
  • hi car_man

    thanks for your on-going help!
    do you have August 2012 rates for current mini cooper convertible (S - and not S) lease?
    12k/yr... LA, California dealers...

    thank you. i have leased my last 3 cars armed with info from you and i think i did pretty well...

    einbayer
  • Car_Man,

    Do you happen to know the lease rates for august on a MINI Countryman S? I'm looking into a 3 year with 12K miles/year lease.

    Thank you!
  • Hello

    I leased a 2012 mini cooper a couple weeks ago. Without thinking, I took the excessive wear and tear policy for an extra 30 bucks a month. Since then I have regretted getting this an have been making requests to have this canceled (i have 60 days)

    Since this was financed as part of the lease, they are saying my payment will stay the same but in the end I will owe less.

    What I am wondering is if I owe less on my lease, then what will happen near the end of my lease term.

    Back in the day during a refi i was told i cannot pay off a lease because that would conclude the lease term and i would have to return the car.

    So if i have been paying more this whole time how do i get my money back. Do i have to purchase the car in the end? do they refund my money back at the time -minus expenses.

    Never had a lease before so I am not sure how this all ends..

    thanks in advance for the help..sorry for being a noob
  • hi car_man
    any rates available for S and non S convertible cooper 2012/2013
    with 12k 36 mnths in California? thank you....

    thanks for your on-going help!
    do you have August 2012 rates for current mini cooper convertible (S - and not S) lease?
    12k/yr... LA, California dealers...

    thank you. i have leased my last 3 cars armed with info from you and i think i did pretty well...

    einbayer
  • czar4czar4 Posts: 20
    edited August 2012
    Car_Man,

    Looking for some help on the August $0 to motor lease deal on the Countryman All4. Here's fine print in case you are unfamiliar:

    *** $0 TO MOTOR $379 Per Month for 38-month lease on a 2012 MINI Cooper S Countryman ALL4
    38-month closed-end Lease Contract offered to qualified customers by MINI Financial Services through participating dealers. $0 cash due at signing (based on $0 first month payment, $0 down payment, and $0 security deposit). Not all customers will qualify for security deposit waiver. Lease rate and fees based on example of a new 2012 MINI Cooper S Countryman ALL4 with MSRP of $29,040. MSRP includes destination & handling charge. Excludes tax, title and dealer fees. Lessee responsible for insurance, excess wear and tear as defined in the lease contract, and a disposition fee of $350 at lease end. The maximum amount of miles for the duration of the lease is 31,667 miles. Purchase option at lease end is $16,553. May be combined with any eligible credits. Subject to credit approval. Models pictured in advertisements may be shown with metallic paint and/or additional accessories. Offer valid through 08/31/2012. Must be delivered 11/30/2012. Visit your authorized MINI dealer for complete details.


    I went into the dealer today, and of course they did not ahve the exact car, but the salesman found one that was close with a sticker of exactly $30k. Having not purchased a Mini before, I was alittle taken aback when he started running numbers rather than the finance guy usually does. Anyway, it was quite convuluted, and I could not tell if he was playing dumb or was himself confused. Here's what he came up with:

    MSRP: $30,000
    Selling Price: $29,000
    Cap Cost: $29,725 (he swears I have to pay the acquisition fee of $725 even though it's not listed in the fine print)
    MF: .00135
    Residual: 57%
    pmt: $395.45 (w/o tax)

    All I have to come in with is DMV, doc, associated taxes, and difference between actual pmt and the $379 mini will cover the first month (about $500 total for everything). Seems reasonable, but:

    1. Do you think I can do better on the price?
    2. Should I have to pay that acquisition fee?

    I come up with $375 per month (w/o tax) when the acquisition fee is removed.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi prabsri. The money factor that you were quoted is too high. Mini's current buy rate lease money factor for this model is only .00145. Try not to let the dealer mark your car's factor up if possible.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mandakism. I don't really have a problem with the $1,900 discount. Just make sure that the dealer uses Mini's buy rate lease money factor of .00145 to calculate your payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi franklingt3. The residual value that you were quoted is correct, but the money factor is way too high. Mini Financial's current buy rate for a 2012 Countryman is .00140.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome einbayer. Mini Financial's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Cooper Convertible with 12,000 miles per year are .00145 and 56%, respectively for consumers who qualify for its top credit tier.

    The numbers for the '12 Convertible S are .00145 and 57%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go zonian22. Mini Financial's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Mini Countryman S with 12,000 miles per year are .00140 and 58%, respectively for consumers who qualify for its top credit tiers.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi czar4. Surprisingly the dealer is not attempting to mark your vehicle's money factor up on you. .00135 is the current buy rate for this model.

    Having said that, this vehicle probably has a spread of around $3,000 between its full MSRP and its dealer invoice price. A discount of $1,000 is nothing to write home about, but I'm not familiar with what the market for this model is like in your area. $2,000 over invoice is enough that it wouldn't hurt to comparison shop if there's another Mini dealer in your area.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi car man can you please post residual and money factor for a 2012 and 2013 cooper hard top with 12k annual miles. I don't know if the 2013's are at dealerships at this point. Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Certainly propkapt. Mini's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Cooper Hard Top with 12,000 miles per year are .00145 and 66%, respectively for consumers who qualify for its top credit tiers.

    I haven't seen any information about the 2013 model, so I doubt that it's available yet.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Does this money factor apply to the Countryman S? I was leaning towards the ALL4 because of the $0 lease promo at 38 months - I have located an S with a retain price of $29,900 minus a $1,000 discount -

    Curious as to the monthly payment I should expect.
  • Just got some residuals from a Philadelphia area Mini dealership for a Cooper Hardtop Auto with 15k miles.

    They quoted me 64%, 56%, and 41% for 36, 39, and 42 months for the 2012s.

    The 2013s were 58%, 50%, and 44% for 36, 39, and 42 months.

    Seems odd that the residuals for the 12s are generally higher. Maybe Mini has opted to inflate them instead of providing lease cash.
  • cjs6cjs6 Posts: 10
    Hi car_man,

    Can you please tell me the current money factor and residual value for a 36-month lease of the 2012 Countryman S with 15,000 miles per year?

    My dealer quoted me 0.00145 (3.48%) and a residual of 56%. The vehicle's MSRP is $31,250 and I was quoted $475/month with only paying the first month's payment at signing. That feels very high to me, although we have yet to negotiate the price. I have top-tier credit.

    Thanks for your help!
  • swerv23swerv23 Posts: 1
    I am in the market to buy a 2012 Mini Cooper S that has a lot of bells and whistles.

    MSRP: $31,000.00
    SP: $30,000.00

    Asking for $4,500.00 down and $400.00/month payment. I think this is ridiculous and way too high. Not sure of the money factor they are using and residual.

    What is the current money factor and residual for 2012 Mini Cooper S?

    I have a credit score of 740, but because my company I have worked for has always supplied me with a car I have never bought a car. BMW is considering me a first time buyer. I have perfect credit but no installment loans on my credit. They are putting me as a second tier credit, which is crazy because I have an AMEX card that I use for business and payoff $3,000.00 every month for the past 15 years.

    Help, please. Do you know how much they jack up the money factor for second tier credit? I have asked the dealer to go back to BMW Financial and show them whatever they need to consider me for first tier credit. I have no black marks on my credit and make plenty of money to qualify.

    Your thoughts?
  • dtbestdtbest Posts: 1
    Looking for some help finding out the August residual and money factor numbers for a 2013 John Cooper Works 2 seater Mini Coupe in the Albany, New York area.

    Are the September numbers available?

    Also, does the trim level (base, S, JCW) have an impact on the residual or MF?

    Thanks for your help.
  • Hi Swerv,

    While I can't comment on the residual, I can say that the deal they are offering you is a bit off.

    My S crested the $30K mark and I got out of there with only first payment down, $435 a month for 36 months at 15K miles a year. I did heavy negotiation on the cost though.
  • Hi car_man,

    Can you please tell me the Sept money factor and residual value for a 36-month lease of the 2012 and 2013 Cooper HT with 10,000 miles per year? I assume its the same for the S model?

    Thank you~
  • Absolutely jjspamcan. Mini's September buy rate lease money factor and residual value for a 36-month lease of a 2012 Mini Cooper Hardtop with 10,000 miles per year are .00140 and 67%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2012 Mini Cooper Hardtop S are .00140 and 63%.

    I haven't seen any info on the 2013 models yet.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi car_man,

    Can you please post the september residuals and money factors on a 2012 cooper convertible base for a 36 mo. lease, 10k miles/year? I am looking to purchase in the next few days and would appreciate the information during my search. Thanks!
  • Hi lala711. Mini's September buy rate lease money factor and residual value for a 36-month lease of a 2012 Cooper Convertible Base with 10,000 miles per year are .00140 and 57%, respectively for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car Man,

    Quick question for you, I am looking at a 2013 Mini Cooper HT with Premium Package lease and 12,000 Miles a year. I am trying to find out the Money Factor and Residual percentage offered to someone with 850+ credit rating. (I could also use the Money Factor and Residual for the "S" 2013 version as well)

    Additionally, can you advise on what the real cost of the above mentioned car (non S) with an MSRP of 23,500? I am trying to find out what a fair price would be to base the leasing negotiation off of and get a car leased this week.

    Any help would be GREATLY appreciated.

    Thank you
  • Could someone please post the lease money factor and residual for September on the following:

    2012 Mini Cooper S hatch
    2013 Mini Cooper S hatch

    2012 Mini Cooper S Convertible
    2013 Mini Cooper S Convertible

    Thank you very much.
This discussion has been closed.