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2014 MINI Cooper Lease Questions

Kirstie_HKirstie_H Posts: 10,913
edited July 7 in MINI
Welcome to Edmunds discussion dedicated to 2014 MINI Cooper leasing questions.
Here you can find and discuss all the latest lease details for the MINI Cooper, including cap costs, money factors, residual values, acquisition fees, etc. Please post any leasing questions you have or any details you’d like to share about your own lease deals.
You can also research local dealer inventory and pricing, reviews, features, and specifications, on our 2014 MINI Cooper page.
If you have already leased, we invite you to review your vehicle by starting on the following page: http://www.edmunds.com/car-reviews/consumer-ratings-reviews.html

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Comments

  • new_mini_ownernew_mini_owner Posts: 3
    edited March 11

    Hi. i am looking at a 2014 countryman S All4 that, with options, comes out to a MSRP of $32,400. I asked our dealer to price a 3yr 10k lease for us, and this is what he came back with:
    $1000 lease credit
    Additional $1000 off
    $1,750 inception fees (are these ok for NJ?)
    61% Residual ($19764)
    final monthly payment is $430 (i assume he means nothing down).

    Does this match with the market? The residual looks right, and I back calculate that the MF must be around 0.00125, so I guess my only question is, does this reflect the appropriate adjustments to MSRP?
    Thanks!

  • kyfdxkyfdx Posts: 31,090

    @new_mini_owner said: Hi. i am looking at a 2014 countryman S All4 that, with options, comes out to a MSRP of $32,400. I asked our dealer to price a 3yr 10k lease for us, and this is what he came back with:
    $1000 lease credit
    Additional $1000 off
    $1,750 inception fees (are these ok for NJ?)
    61% Residual ($19764)
    final monthly payment is $430 (i assume he means nothing down).

    Does this match with the market? The residual looks right, and I back calculate that the MF must be around 0.00125, so I guess my only question is, does this reflect the appropriate adjustments to MSRP?
    Thanks!

    I show a $1500 option credit on that model (You-ification), in addition to the $1000 lease credit. So, there is that...
    They advertise a "$0 to Motor" lease that includes those two credits, plus a $500 loyalty credit (that you may not be eligible for), and a dealer discount of $650... No acquisition fee, no first payment, no security deposit. MSRP = $29,445.. monthly payment = $289/mo. (36mo, 10K/yr)

    ZERO due at signing.... However, you'll have a $300 dealer fee, about $400 for title/registration in NJ for the lease term, and sales tax (lets guess $800 upfront). So, $1500 upfront and 35 payments of $289. for an MSRP of $29,445.

    If we adjust it for your MSRP of $32,400, but add back in the $500 you may not be eligible for, we get about $344/mo., with say $1650 due at signing (more tax). Still assuming a $650 dealer discount, in addition to the $2500 in lease/option credits. $85/mo less than your quote..

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  • Wow! even more than I would have hoped. Excellent! I guess he forgot to mention those credits. I don't think I will apply for the loyalty. I bought my previous car from a lexus dealership owned by the same franchise as this dealer, but the dealer says loyalty is actually only for previous Mini owners.

  • one more quick question... i honestly dont know. There is a destination charge of about 800. You didn't mention that above. Should I be paying that?

  • kyfdxkyfdx Posts: 31,090

    @new_mini_owner said: one more quick question... i honestly dont know. There is a destination charge of about 800. You didn't mention that above. Should I be paying that?

    The destination charge is part of the MSRP, and should be part of any price quoted to you... If they are breaking it out, or adding it in, once you've come to a deal, that's just shady...

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  • mday90mday90 Posts: 4
    Hi. I am leasing a 2013 Mini Cooper today. Does anyone know any deals from mini and also the residual for 3yr 12k miles and the money factor? The dealer took $1800 of msrp and looks like mini is offering $1000 lease cash. I just want to calculate my lease payment as i don't trust the dealer!! Thank you!!
  • kyfdxkyfdx Posts: 31,090

    @mday90 said: Hi. I am leasing a 2013 Mini Cooper today. Does anyone know any deals from mini and also the residual for 3yr 12k miles and the money factor? The dealer took $1800 of msrp and looks like mini is offering $1000 lease cash. I just want to calculate my lease payment as i don't trust the dealer!! Thank you!!

    .00080 MF and 56% residual. $1000 lease cash.

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  • mday90mday90 Posts: 4
    edited March 14
    Thank you. I have one other question... Where do you get these numbers from?
  • mday90mday90 Posts: 4

    @kyfdx@Edmunds said:

    Thank you. I have one other question... Where do you get these numbers from?

  • mday90mday90 Posts: 4

    @kyfdx@Edmunds said:

    BTW Thanks again... My lease payment matches that of the dealership.

  • kyfdxkyfdx Posts: 31,090

    @mday90 said: Thank you. I have one other question... Where do you get these numbers from?

    From BMWFS..

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  • rmc03rmc03 Posts: 5

    Hi there, please can I get the money factor and residual on a 2014 Mini Clubman Cooper S

    24 month lease, 15,000 miles and 12,000 miles options in California.

    Thanks a lot

  • kyfdxkyfdx Posts: 31,090

    @rmc03 said: Hi there, please can I get the money factor and residual on a 2014 Mini Clubman Cooper S

    24 month lease, 15,000 miles and 12,000 miles options in California.

    Thanks a lot

    This model doesn't have much support on a 24 month lease... The residual is 62%/64% for 24 months, 15K/12K yr... but, I can't find a money factor for that term.

    For 36mo, 15K/yr, it's .00083 MF and 57% residual.. 59% for 12K/yr.

    Looks like $750 in option cash (you-i-fication credit)

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  • m2817m2817 Posts: 2

    Hi,

    I was interested in leasing a Mini Countryman base/manual. I got the following quote for a mini with an MSRP of $23, 145, a residual of 56% and a a money factor of .00150. The dealer offered 320 a month (inclusive of taxes) with a $1,000 down for 36 months and 15K miles a year.

    What is the residual for 36 months 15,000 miles in California ? Also, is this is a good or bad deal ?

    Thanks !

  • m2817m2817 Posts: 2

    Also, what is the money factor

  • kyfdxkyfdx Posts: 31,090

    @m2817 said: Hi,

    I was interested in leasing a Mini Countryman base/manual. I got the following quote for a mini with an MSRP of $23, 145, a residual of 56% and a a money factor of .00150. The dealer offered 320 a month (inclusive of taxes) with a $1,000 down for 36 months and 15K miles a year.

    What is the residual for 36 months 15,000 miles in California ? Also, is this is a good or bad deal ?

    Thanks !

    .00150 MF and 56% residual

    Is $1000 the total amount due at signing? MINI has a program this month called "$0 to Motor". Using that program, no acq.fee, no security deposit, no 1st payment . Find out what the $1000 is for.. The monthly payment is about right, but you should have nothing due at signing but title/registration fees and the dealer doc fee, which I think is restricted to $80 in CA. If that $1000 includes a CAP cost reduction, then that is the part I would negotiate away..

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  • inker22inker22 Posts: 3

    Hi all, we're looking into leasing the 2014 MINI Cooper hardtop.

    36 months / 10k miles/yr

    Anyone know the base Money Factor and Residual Value?

    Thx in advance!

  • MichaellMichaell ColoradoPosts: 8,050

    @inker22 said: Hi all, we're looking into leasing the 2014 MINI Cooper hardtop.

    36 months / 10k miles/yr

    Anyone know the base Money Factor and Residual Value?

    Thx in advance!

    61% residual and 'standard' money factor - not exactly sure what that is.

    You might want to scroll back a page or two in this discussion to see what has been quoted by my co=host.

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  • inker22inker22 Posts: 3

    Thx Michael.

    I couldn't find the figure as most refer to the previous gen Cooper Hardtop. Or would it be the same for the brand new Cooper Hardtop that's about to be released?

    The dealer gave me .00175 or .00205 with Acquisition fee waived. Is that about right?

    Thx again!

  • sparky33sparky33 Posts: 5

    Trying to find the 2014 Cooper hardtop MF and residual too -- told by dealer today .0024 and 61%. Can anyone confirm? That's vs. .00080 and 57% on the 2013 hardtop. Is there any way the 2014 MF is that high?

  • MichaellMichaell ColoradoPosts: 8,050

    @inker22 said: Thx Michael.

    I couldn't find the figure as most refer to the previous gen Cooper Hardtop. Or would it be the same for the brand new Cooper Hardtop that's about to be released?

    The dealer gave me .00175 or .00205 with Acquisition fee waived. Is that about right?

    Thx again!

    I know there is a premium added to the MF when the acquisition fee is waived,

    The highest MF I see quoted is .00164 for the Countryman S ALL4, though the standard MF could be higher.

    If I'm not mistaken, the about to be released MINI would be a model year 2015.

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  • MichaellMichaell ColoradoPosts: 8,050

    @sparky33 said: Trying to find the 2014 Cooper hardtop MF and residual too -- told by dealer today .0024 and 61%. Can anyone confirm? That's vs. .00080 and 57% on the 2013 hardtop. Is there any way the 2014 MF is that high?

    It's possible - MINI may have a lower MF on the 2013's to make them more attractive to customers. But, that could be offset by a lower residual.

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  • sparky33sparky33 Posts: 5

    The about to be released MINI hardtops are indeed 2014s here (different in other countries? I don't know). The leftover 2013s are definitely being pushed so I understand their lower MF but I just thought .0024 was crazy high for the 2014 model. The dealer said it's just because it's brand new, lots of changes this model year, etc. But that gave a monthly lease pmt very close to what I can get the 2014 BMW 320i for - at $11,000 higher selling price! Guess BMW is looking better and better. I just didn't know if the dealer is playing with the 2014 MF to push me to get a 2013 which I did drive and show an interest in.

  • smbasssmbass Posts: 6

    hey sparky - the 2013 is such a different mini - especially with the Peugeot engine vs the BMW engine in the 2014. the entire 2014 model leans to BMW which I like. worth the premium? to be determined. is hard to nail down the residual and money factors. they aren't moving much off the MSRP though. (500 bucks off is what I got in a quote)

  • sparky33sparky33 Posts: 5

    yeah, and the different engine makes for a very noticeable increase in peppiness. i definitely enjoyed test-driving the 2014 -- BUT i can't see the money factor being .0024 which jacks up the monthly payment to $378 for a $24K car. Would love to hear April MF and residual for the 2014 hardtop.

  • MichaellMichaell ColoradoPosts: 8,050

    @sparky33 said: yeah, and the different engine makes for a very noticeable increase in peppiness. i definitely enjoyed test-driving the 2014 -- BUT i can't see the money factor being .0024 which jacks up the monthly payment to $378 for a $24K car. Would love to hear April MF and residual for the 2014 hardtop.

    We don't yet have the April numbers from MINI, sorry.

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  • kyfdxkyfdx Posts: 31,090

    @sparky33 said: yeah, and the different engine makes for a very noticeable increase in peppiness. i definitely enjoyed test-driving the 2014 -- BUT i can't see the money factor being .0024 which jacks up the monthly payment to $378 for a $24K car. Would love to hear April MF and residual for the 2014 hardtop.

    .00133 MF and 58% residual for 36mo, 15K/yr

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  • inker22inker22 Posts: 3

    kyfdx@Edmunds, do you have the MF and RV for 36mo, 10k/yr for the 2014 Cooper Hardtop. Thx

  • kyfdxkyfdx Posts: 31,090

    @inker22 said: kyfdx@Edmunds, do you have the MF and RV for 36mo, 10k/yr for the 2014 Cooper Hardtop. Thx

    .00133 MF and 61% residual for 36mo, 10K/yr

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  • sparky33sparky33 Posts: 5

    Thanks for the 2014 hardtop MF. Interesting that it could go from .0024 last month to .00133 this month.

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