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MINI Cooper Lease Questions

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  • vpekavpeka Posts: 1
    I configured a 2013 MINI Cooper S Hardtop with MSRP $28395 (including $795 destination charge). A dealership offered me $1500 out-of-pocket at signing and a $400 monthly, for 36 months and 10k miles/year lease.

    The money factor for this calculation is 0.00165, which is on the higher end of the spectrum. The manager insist he cannot get better than this. But with the high money factor, I am not sure if I am getting a good deal.

    What is your take on this? Do you think it is a good deal?
  • Hi CarMan -- are you away? Hope you are having fun!

    I would really appreciate your help after receiving conflicting info from several dealers.

    For top tier credit - what is the best I can hope for on a 15k lease? Or, is buying at 0.9% a worse or better idea knowing I will definitely sell/trade in 3 years? Thanks for your help!
  • Were can I get Money Factors and Residuals? Been looking online and haven't found anything accept a few tidbits on this forum. Looking for the info for a Hardtop, Paceman and Contryman.
  • Can someone please provide the Residuals and Money factor for top tier credit for a Mini Cooper Roadster JCW fully loaded for 36 months 10K and 12K miles.
  • kyfdxkyfdx Posts: 28,743
    You'll have to use BMW's standard money factor (figure .0020 or higher), and the residual is 49% and 48% respectively...

    The JCW models have terrible residuals... they don't lease out very well..

    MODERATOR
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  • Would you be able to share the current September 2013 Base Rate Money factor and Residual value for a 2013 Countryman Cooper S 36 month, 12,000 miles/yr lease?

    Thanks,
    Mike
  • kyfdxkyfdx Posts: 28,743
    .00125 and 58%

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  • Hello - thanks always for your help.

    After jumping back and forth on many vehicle options, we finally settled on Mini Clubman (base). There's a national deal running on 2013 models till 9/30 but it doesn't have all the options I'm looking for. I did get the residual information (64%) by using MSRP and residual value listed in the disclaimer. I'm assuming I can negotiate MF down to 0.00125.

    Can you confirm the Residual and MF for 2013 clubman base on a 3yr 10k miles/yr lease?

    I'd also like to find out same for 2014 model as I'm having tough time finding right combination in remaining 2013 stocks in my area (NJ).

    Lastly, is there an incentive running on either 2013 or 2014 models now? I'm not seeing much discount for 2013 models.

    Thanks!
  • kyfdxkyfdx Posts: 28,743
    I show .00125 MF and 62% residual on a base 2013 Clubman for 36mo/10K.

    .00127 and 61% residual for the 2014...

    I don't have incentive information.... but, it seems the incentives are built into that high residual on the 2013 model...

    regards,
    kyfdx

    MODERATOR
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  • mel07079mel07079 Posts: 8
    edited October 2013
    Looking for residuals and MF for Mini Cooper S Convertible. Top tier credit and 10K miles per year for 36 months. Also does Mini do multiple security deposits?
  • kyfdxkyfdx Posts: 28,743
    2014?

    .00127 MF and 56% residual..

    I don't have the answer on MSDs, but MINI FS is essentially the same as BMWFS, so I would guess that they are available.. (I'm wrong a lot, though.lol)

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • apa1128apa1128 Posts: 11
    Can you provide the numbers for October on the Countryman S All4? I was quoted with a base rate of .0021 and a residual of 58%. 5% seems extremely high for top tier credit. I'm in Denver. Thanks.
  • kyfdxkyfdx Posts: 28,743
    2014? Countryman S All4 36mo, 10K/yr lease
    .00127 and 58%

    I assumed 10K/yr, because the residual matches... Not sure how a MINI dealer could mark up your MF to .0021, unless you have less than top tier credit.. or, they quoted you the MF for the JCW model..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • apa1128apa1128 Posts: 11
    Yes, 2014 and it's 12K per year. I have top tier credit and have leased 2 BMW's through BMWFS so I guess they're just trying to jack me. The response I got t his morning was that the lower MF needs a security deposit and waiver from BMWFS, which I also do not believe to be true. I've never had to do that with BMW, so I don't know why this situation would be any different.
  • kyfdxkyfdx Posts: 28,743
    I'm not sure that MINI counts BMWFS leases for owner loyalty, etc... even though it's the same company..

    But, they can mark up the MF by .0004, add .00015 for waiving the security deposit, and then .00035, if you asked them to waive the acquisition fee.. All of that would get you to .00217...

    But, go ahead.. pay the acquisition fee, make the security deposit, and the most they can hit you with is .00167, which is still marked up... I'd insist on the .00127 and ask them what it takes to make it happen.. At least then, you are working with apples to apples..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • apa1128apa1128 Posts: 11
    That's what I'm doing - I'll keep the forum posted and post the deal if it happens. Going to try to go with the loyalty route.

    thanks kyfdx
  • jcockerjcocker Posts: 14
    Hi kyfdx,

    Can you tell me what the October 2013 Money Factor and Residual are for both cars both years?
    36 months - 15k miles

    2013 - MINI Hardtop S
    2014 - MINI Hardtop S

    2013 - MINI Clubman S
    2014 - MINI Clubman S

    Going to Motor-tober event this weekend and want to be ready...
    Thank you very much in advance,
    Jarvis
    :shades:
  • kyfdxkyfdx Posts: 28,743
    2013 - MINI Hardtop S 36 mo, 15K/yr lease
    .00125 MF and 56% residual

    2014 - MINI Hardtop S
    .00127 MF and 57% residual

    2013 - MINI Clubman S
    .00125 MF and 59% residual

    2014 - MINI Clubman S
    .00127 MF and 58% residual

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • shad0wshad0w Posts: 1
    Hi kyfdx.

    I am looking to either lease or finance the countryman all4 s. do you have the lease residual and money factor for 36mos 10k miles?

    Also, I may want to do the mini select financing. Do you have the balloon Payment residual and apr?

    Has anyone on the forums done a risk/reward analysis on these 2 options? I just feel the residuals are fairly low on mini coopers and think the mini select is the better option if going to flip the car within 3 years.

    Thanks.
    P.s. how do you get this information? Have access to a dealer or something?
  • kyfdxkyfdx Posts: 28,743
    2014 Countryman S All4 36 mo, 10K/yr lease
    .00127 MF and 58% residual

    I'm not all that familiar with Select Financing.. but, it's only available in certain states.. and, the APRs always seem to be pretty high..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Hi Carman can you tell me about this deal?

    2014 Countryman S loaded
    MSRP 33,000
    12k miles per year
    $1000 total drive off
    36/mos

    $545/mo

    Sounds high to me but according to the mini dealer, they don't really haggle on prices due to the high demand of a fully loaded countryman. Can anyone please tell me is this is true? I usually buy BMW so MINI is a brand new experience for me.
  • itzcarollitzcaroll Posts: 1
    edited October 2013
    Hi there -

    Just want to share my experience as I recently got a 2014 Countryman and I was somewhat in the same position as you. I started out wanting to lease the countryman. I didn't want to make a big purchase and had been enjoying leasing a car (was leasing a Honda Insight), but I went with the Mini Select Program because I want to retain my equity. Since you would be paying almost 50% of the car in the next 3 years, I figured it would better to acquire as you could get back some of your equity than throwing away in leasing a Mini.

    So here is some hard numbers I got during the negotiation process:

    2014 Mini Countryman (White) - Purchased in CA
    - equipped with sunroof, armrest, and flat load floor
    MSRP: 25,645
    Final Price: 24,445

    CS (Experian): 701
    Brought $1000 for deposit

    Lease Program - 36 Months, Money factor 0.00167, Residual 57%
    $1300 down $388

    Mini Select Program (First Offer) - 60 Mos, 6.49% APR, 12,000 Miles
    $1000 down $355
    $1250 down $350
    $1500 down $345

    After some negotiating... (final offer) - 60 Mos, 3.99%, 12,000 Miles
    $1000 down $359
    (added in extended 7yrs/100,000mls warranty)
  • Looking to lease the above car. I need to get the car created to my configuration bc the dealers locally do not have the color/options I want. The MSRP is $32,695 + dest charge. I want the lowest possible MF and don't want to put down more than I need to. Also want to use the MSD program which the dealer confirmed that they offer. Can someone provide the MF as well as the TMV, and residual value. I have top tier credit and no reason I should not get the best possible rate. I want to do a 3 yr lease with 5000 miles/yr. kyfdx- you quoted a MF of .00127 and 56% RV which I assume are still current. Anyone know anything about the MSD program?
  • kyfdxkyfdx Posts: 28,743
    I don't have updated November numbers, but those are the numbers for October.. (36 month, 10K/yr)

    The MSD program lowers the money factor by .00007 for each MSD, up to 7 additional deposits, for a total reduction of .00049... that would lower the .00127 MF to .00078.

    Dealers can mark-up the money factor for extra profit, and many of them do.. the maximum mark-up is .0004

    Sorry that I don't have the updated numbers..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Ok. So I am ready to move forwad and got the #s from the dealer for a MSRP $32,400 Cooper S convertible that they are reducing by $1000. They quoted me for a 36 month, 5000 miles/year lease a 58%RV and a MF of 0.00121 with 7 MSD's. Total montly lease (nothing down, not financing any of the fees and NJ sales tax paid upfront) of $421. I think the MF is way off here. Esp since it's a 5000 mile/year lease. Any advice? Any new numbers you have I can work with?
  • Hi,

    This will be my first time leasing a car and I've been doing a lot of research and trying to follow this forum to figure out the best deal.

    Here are the numbers I got from a dealer in CA:
    Mini Cooper Convertible '14
    MSRP: $29,341
    10k/36 months
    $3000 down payment
    Monthly payment: $437

    Does anyone have the Nov MF and RV?

    Any advice would be appreciate...
  • New info... when I told dealer about the 0.00078 MF with the 7 MSDs, they came back to me with that rate. Thanks! So that's good. But should it be even lower since that's with 10,000 miles/year??? I need to know if I can go back to them and ask for an even lower MF. Anyone know anything about a 5000 mile/yr lease MF??

    Also, their bank fee is $925!!! I've never seen a fee that high. That's on top of $575 in DMV and document fees. Is this # negotiable??
  • kyfdxkyfdx Posts: 28,743
    The base acquisition fee is $725.. the bank allows them to mark it up by $200 for extra profit...

    The money factor is the same... regardless of mileage allowance... The only thing that changes is the residual... It's great you got them to drop the mark-up to the money factor, though.. How much did that lower the payment?

    I'm not familiar with 5000 mile leases, but a 2% increase over the residual of the 10K/yr lease sounds about right.

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  • Not sure I am calculating the difference correctly but it seems like I save $900 over the term of the lease by going from 0.00121 to 0.00078.

    Should I try and get the $200 taken off the acquisition fee?

    Also, there was no mention of the $750 dest fee nor the $750 You-if-ication credit they are offering for their base 2014 S Convertible lease special online. Should I ingnore these? The rate I was quoted was $399/mo.
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