2015 MINI Cooper Lease Questions

Michaell

@socal68 said:
Hello,

Can someone provide the July money factor and residual for a 2014 Mini hardtop, base, automatic?

Thank you!

.00130 and 63% for 34 months, 10K miles per year.

socal68

@Michaell said:
.00130 and 63% for 34 months, 10K miles per year.

Thank you! Also, may I ask the rate and residual for the "S"?

kyfdx

.00130 MF and 59% for the "S", for 34mo, 10K/yr

socal68

@kyfdx said:
.00130 MF and 59% for the "S", for 34mo, 10K/yr

Thanks again,

The dealer is quoting me .00165 and 60% for 10k @ 36 months (base hardtop). I'm sure he is marking up the rate, but not sure why he is quoting different terms. Even with the higher rate, the payment is lower @ 34 months.

Michaell

@socal68 said:

Can you confirm that the lease is through MINI Financial?

socal68

I will confirm and let you know.

null

eunoia

Hi,

Two different dealers are quoting the July residual for the hardtop/base/automatic (3 years/10k) as 60%. Does having less than Tier 1 credit change the residual percentage? I thought only the MF was affected. Thanks!

kyfdx

@eunoia said:
Hi,

Two different dealers are quoting the July residual for the hardtop/base/automatic (3 years/10k) as 60%. Does having less than Tier 1 credit change the residual percentage? I thought only the MF was affected. Thanks!

That's correct.. 36mo, 10K/yr is 60% residual. The 34 month residual is 3% higher.

jstebb

Do you know the national MF and residual value for Cooper S Countryman All4 for July on a 36mo/10Kmi lease? Thanks!

Michaell

@jstebb said:
Do you know the national MF and residual value for Cooper S Countryman All4 for July on a 36mo/10Kmi lease? Thanks!

.00125 and 61%

jstebb

@Michaell said:
.00125 and 61%

Thanks!

tsa1

Hello,

I would like the MF and Residual for a 2014 Base Mini Hardtop in CA with 12k and 15k annual miles. I wish these Mini MF would come down a percent or 2, though. I wonder if the MF will drop some in august or september when the new models show up?

Lastly, what kind of discount are folks getting off MSRP? Reason I'm asking is I have a 2013 Countryman S that I will be trading in and should be about 1-1.2k upside down and though I know you cannot residualize (sp?) that, I would still like to see some come off msrp to help with it haha

Thanks in advance.

kyfdx

@tsa1 said:
Hello,

I would like the MF and Residual for a 2014 Base Mini Hardtop in CA with 12k and 15k annual miles. I wish these Mini MF would come down a percent or 2, though. I wonder if the MF will drop some in august or september when the new models show up?

Lastly, what kind of discount are folks getting off MSRP? Reason I'm asking is I have a 2013 Countryman S that I will be trading in and should be about 1-1.2k upside down and though I know you cannot residualize (sp?) that, I would still like to see some come off msrp to help with it haha

Thanks in advance.

.00130 MF and 62%/60% residual for 34 month lease. BMW/MINI money factors have been pretty constant, over the last year. They have been using cash incentives to lower lease payments, instead of lowering the MF.

getarnit

Thanks for help with the previous question. We have now been to see a mini dealership and we were shown a Countryman S that we liked.

MSRP - 30,845
Discount - 845
Selling price - 30,000
Dealer fees - 699
Sales tax - 1842.33
Tag fees - 458.85
Out the door - 33,000.18

Estimate on 36MO/15k lease with $750 rebate and $1500 at signing = $455.19
MF - 0.00163
Residual - 57%

Do these numbers sound right? What should I question? And where can I ask for further discounts?

Also can someone give me any ideas how mini select works and whether that is a good option or in what situation it would be a good option?

Thanks again for any help given. It's very much appreciated.

Edit: we are going to another dealership this evening to see if there are any other options we like. Is there anything I should be asking to start off negation?

kyfdx

@getarnit said:
Thanks for help with the previous question. We have now been to see a mini dealership and we were shown a Countryman S that we liked.

MSRP - 30,845
Discount - 845
Selling price - 30,000
Dealer fees - 699
Sales tax - 1842.33
Tag fees - 458.85
Out the door - 33,000.18

Estimate on 36MO/15k lease with $750 rebate and $1500 at signing = $455.19
MF - 0.00163
Residual - 57%

Do these numbers sound right? What should I question? And where can I ask for further discounts?

Also can someone give me any ideas how mini select works and whether that is a good option or in what situation it would be a good option?

Thanks again for any help given. It's very much appreciated.

Edit: we are going to another dealership this evening to see if there are any other options we like. Is there anything I should be asking to start off negation?

They are marking up the money factor the maximum, as the base MF is .00123.. $845 off doesn't sound terrible for a MINI, but they are taking most of it back with a $700 dealer fee...

MINI Select is a balloon payment program. Usually, that's only used in states that tax the full purchase price on a lease..

sfminibuyer

Hello,

I'm looking to buy a 2014 Mini Cooper Hardtop (base model, automatic) in the SF Bay Area with an MSRP of $24,495. Here are the details:

1. 14 MA Cooper HT
2. Midnight Black Metallic
3. Leatherette Carbon Black
4. Co2 Relevant vehices
5. Steptronic automatic trans.
6. 16" Victory Spoke black
7. Panoramic Moonroof
8. Center armrest

I'm discussing a Lease: 3 yr, 12k / miles yr, and I've been able to get the following:

1. Discounted -$1000 *($580 TrueCar savings, $420 negotiated with dealer in addition)
2. Residual: $14,207.10 (residual value of 58%)
3. If I put down $3500, I'm being offered: $290 / mo + $25 SF city tax = $315 /mo
4. .00175 (2400) = 4.2% APR for Lease

This all seems reasonable, except #4.. I was under the impression that they were at .00133 in April. That would be closer to 3.2%. Am I mistaken? Should I expect a lower APR? Is there anywhere else I can expect a discount?

I really appreciate the help!

Sincerely,
Excited Buyer

Michaell

@sfminibuyer said:
Hello,

I'm looking to buy a 2014 Mini Cooper Hardtop (base model, automatic) in the SF Bay Area with an MSRP of $24,495. Here are the details:

1. 14 MA Cooper HT
2. Midnight Black Metallic
3. Leatherette Carbon Black
4. Co2 Relevant vehices
5. Steptronic automatic trans.
6. 16" Victory Spoke black
7. Panoramic Moonroof
8. Center armrest

I'm discussing a Lease: 3 yr, 12k / miles yr, and I've been able to get the following:

1. Discounted -$1000 *($580 TrueCar savings, $420 negotiated with dealer in addition)
2. Residual: $14,207.10 (residual value of 58%)
3. If I put down $3500, I'm being offered: $290 / mo + $25 SF city tax = $315 /mo
4. .00175 (2400) = 4.2% APR for Lease

This all seems reasonable, except #4.. I was under the impression that they were at .00133 in April. That would be closer to 3.2%. Am I mistaken? Should I expect a lower APR? Is there anywhere else I can expect a discount?

I really appreciate the help!

Sincerely,
Excited Buyer

The base MF for the MINI Hardtop in July is .00130. The national deal is for 34 months, 10,000 miles per year with a pre-tax payment of $234; this also requires a customer down payment of $1700 and $2659 total due at signing. Residual is 63% on this deal.

So - tell them politely but firmly that you won't sign a deal with an inflated money factor. If you want to go to 12K per year, the residual should only drop 1%.

sfminibuyer

This is incredibly helpful. Thank you SO much, @Michaell‌! I really appreciate it

sfminibuyer

@Michaell‌ I was able to get the MF to .00130 (thanks to your help) so now I'm being offering $252.03/ mo pre-tax. You had said that the pre tax payment should be $234? Is that for the car I detailed in my above post or the absolute base model (e.g. no moon roof or center armrest). Also, this car that I'm requesting isn't routed for the dealership I'm looking at but another dealer about 5 hour car drive away. They are saying it is a $1000 transfer to get the car and that they can't justify paying for the transfer fee without the $1k. Is that reasonable?

Thanks for your help!

Michaell

@sfminibuyer said:
Michaell‌ I was able to get the MF to .00130 (thanks to your help) so now I'm being offering $252.03/ mo pre-tax. You had said that the pre tax payment should be $234? Is that for the car I detailed in my above post or the absolute base model (e.g. no moon roof or center armrest). Also, this car that I'm requesting isn't routed for the dealership I'm looking at but another dealer about 5 hour car drive away. They are saying it is a $1000 transfer to get the car and that they can't justify paying for the transfer fee without the $1k. Is that reasonable?

Thanks for your help!

I think the national offer is for a minimally optioned car - if yours has more stuff, then the payment will be higher.

As far as the transfer costs, $1000 seems steep for ~300 miles. Seems to me the dealer is trying to profit from it.

sfminibuyer

Got it. Thanks again, @Michaell‌. Very helpful!

cb4d1

Hi there.

Just got an initial offer on a base Cooper Hardtop at Mini in LA. They're being a little screwy though.

MSRP: $26,195
Discount: $1300k
Purchase Price: $24,895
Total down payment: $1k
Residual: 62%
34 months, 12k/year
Acq fee: 0.
MF: .00205
Monthly including tax: 361.41

I immediately recognized that money factor was inflated and demanded the .00130. He went on about how if he gave me that money factor there would be an acq fee b/c they have to make money somehow. With the base MF, I got this:

MSRP: $26,195
Discount: $1000k
Purchase Price: $25,195
Total down payment: $1k
Residual: 62%
34 months, 12k/year
Acq fee: $925
MF: .00130
Monthly including tax: 369.26

So one scenario involves a much higher interest rate but no acq fee and $9 cheaper a month. But I don't want to pay that much interest. Any thoughts?

Thanks in advance!

Michaell

@cb4d1 said:
Hi there.

Just got an initial offer on a base Cooper Hardtop at Mini in LA. They're being a little screwy though.

MSRP: $26,195
Discount: $1300k
Purchase Price: $24,895
Total down payment: $1k
Residual: 62%
34 months, 12k/year
Acq fee: 0.
MF: .00205
Monthly including tax: 361.41

I immediately recognized that money factor was inflated and demanded the .00130. He went on about how if he gave me that money factor there would be an acq fee b/c they have to make money somehow. With the base MF, I got this:

MSRP: $26,195
Discount: $1000k
Purchase Price: $25,195
Total down payment: $1k
Residual: 62%
34 months, 12k/year
Acq fee: $925
MF: .00130
Monthly including tax: 369.26

So one scenario involves a much higher interest rate but no acq fee and $9 cheaper a month. But I don't want to pay that much interest. Any thoughts?

Thanks in advance!

There is a bump in the MF in order to waive the acq fee. That said, the base acq fee is $725, so the dealer is marking that up on you for a bit of extra profit.

I also don't understand why the discount off MSRP is different in the two scenarios.

cb4d1

Yes odd right? I got another quote from another Mini dealer who offered a $355/payment including tax. They get there by reducing the purchase price and acq fee a bit. This original dealer is claiming they will match this and make it work. So when I go in, is there anything I should watch out for? Obvs I want to make sure the money factor is the same. I just want to see where they make up that money in the payment (hopefully with purchase price and MF).

Thank you Michaell!

Michaell

@cb4d1 said:
Yes odd right? I got another quote from another Mini dealer who offered a $355/payment including tax. They get there by reducing the purchase price and acq fee a bit. This original dealer is claiming they will match this and make it work. So when I go in, is there anything I should watch out for? Obvs I want to make sure the money factor is the same. I just want to see where they make up that money in the payment (hopefully with purchase price and MF).

Thank you Michaell!

Just review all the numbers very carefully and question anything you don't understand.

cb4d1

Okay just got back. MF is the .00130, purchase price is 24,800. 1k down out the door. They won't budge on $925 acq fee. Monthly is $355 with tax.

Seems okay given they aren't marking down the new ones much right?

cb4d1

Welp, I got into the finance department ready to sign and suddenly the money factor was back to .00210, with total interest for the lease at $2900 which seems insane to me. They went on and on about how they waived the acq fee to compensate for the higher money factor but it rubbed me the wrong way so I walked. Sorry, just needed to vent. Am I crazy, or is that way high for MF, even with a waived acq fee?

Michaell

@cb4d1 said:
Welp, I got into the finance department ready to sign and suddenly the money factor was back to .00210, with total interest for the lease at $2900 which seems insane to me. They went on and on about how they waived the acq fee to compensate for the higher money factor but it rubbed me the wrong way so I walked. Sorry, just needed to vent. Am I crazy, or is that way high for MF, even with a waived acq fee?

You were right to walk if you weren't comfortable with the terms. We recommend not signing any deal that includes an inflated MF.

donlong1

Hi All! I am new to the Edmunds Forums and this thread. Thanks for sharing a lot of great information.

Can anyone please tell me the base MF and residuals for 2014 and 2015 Hardtop Cooper S - 34mo/12k, 36mo/12k, 36mo/10k?

Any lease specials/incentives going on now? Also, has anyone heard about the 34mo special?

Thank you!

Michaell

@donlong1 said:
Hi All! I am new to the Edmunds Forums and this thread. Thanks for sharing a lot of great information.

Can anyone please tell me the base MF and residuals for 2014 and 2015 Hardtop Cooper S - 34mo/12k, 36mo/12k, 36mo/10k?

Any lease specials/incentives going on now? Also, has anyone heard about the 34mo special?

Thank you!

The August numbers from MINI are not available to us, just yet.

Yes, there was a 34 month special available in July. Don't know if they will continue it into August.

donlong1

Thank you, Michaell!

Can you please share the July numbers then? What does 34mo special give?

Michaell

@donlong1 said:

Thank you, Michaell!

Can you please share the July numbers then? What does 34mo special give?

The July numbers expired on 7/31; we are in a bit of a gap at the moment and should have the new numbers soon.

donlong1

@Michaell said:

The July numbers expired on 7/31; we are in a bit of a gap at the moment and should have the new numbers soon.

Michael, is there any chance you can give me the July numbers? I am talking to one dealership now, and I need to see the baseline numbers.... Thank you!

kyfdx

@donlong1 said:
Hi All! I am new to the Edmunds Forums and this thread. Thanks for sharing a lot of great information.

Can anyone please tell me the base MF and residuals for 2014 and 2015 Hardtop Cooper S - 34mo/12k, 36mo/12k, 36mo/10k?

Any lease specials/incentives going on now? Also, has anyone heard about the 34mo special?

Thank you!

2014: 34mo, 12K/yr = .00130 MF and 62% residual. 63% for 34mo, 10K/yr

2015: Standard money factor (I think that's about .00190) and 61% residual for 36mo, 12K/yr. 62% for 10K/yr.

donlong1

@kyfdx said:
2015: Standard money factor (I think that's about .00190) and 61% residual for 36mo, 12K/yr. 62% for 10K/yr.

Thank you! What is the residual for 2014 for 36mo? Same, 62% - 12k?

Michaell

@donlong1 said:
Thank you! What is the residual for 2014 for 36mo? Same, 62% - 12k?

Subtract 3% to go from 34mo to 36mo.

carbuyer731

I am being quoted (for a 14 mini cooper hard top with auto transmission, moonroof, center console) an MSRP of $26950 (this is pre any negotiation on that) a monthly payment of $477.50. The money factor being: .001700, and residual at : 60% . What would be the base MF and residual for a comparable trim?

Michaell

@carbuyer731 said:
I am being quoted (for a 14 mini cooper hard top with auto transmission, moonroof, center console) an MSRP of $26950 (this is pre any negotiation on that) a monthly payment of $477.50. The money factor being: .001700, and residual at : 60% . What would be the base MF and residual for a comparable trim?

Cooper Hardtop - .00130 MF and 60% for 34/15.

keithledge

Any chance you have the August 2014 MF Rates for the Countryman S?

34 mos and 36 mos!

kyfdx

@keithledge said:
Any chance you have the August 2014 MF Rates for the Countryman S?

34 mos and 36 mos!

.00123 MF and 57% for 36 mo. 15K/yr. No 34 mo. program found for this model.

buchimuer

Hi @kfydx @Michaell‌,
We are looking for leasing an MINI COUNTRYMAN and we got our first quote from dealer today. Could you advise us if this is a good deal?

Mini Countryman FWD 4dr S

MSRP: 32,745

Dealer discount: 2,527

Cap Cost: 30,218

Residual: 19,647

Drive off: 3,078

36mo, 10k/yr

378.41/mo

Drive off Price include tax, fees, license. We are in OKlahoma.

Please advise! Thanks.

buchimuer

BTW the MF is 0.0017 and RV is 60

Michaell

@buchimuer said:
Hi kfydx Michaell‌,
We are looking for leasing an MINI COUNTRYMAN and we got our first quote from dealer today. Could you advise us if this is a good deal?

Mini Countryman FWD 4dr S

MSRP: 32,745

Dealer discount: 2,527

Cap Cost: 30,218

Residual: 19,647

Drive off: 3,078

36mo, 10k/yr

>

MF is 0.0017 and RV is 60

378.41/mo

Drive off Price include tax, fees, license. We are in OKlahoma.

Please advise! Thanks.

My numbers match up exactly with yours. However, the base MF for the Countryman S FWD this month is .00123; your dealer is marking it up on you for a bit of extra profit.

The base MF would drop your payment to $354.97.

carbuyer731

Is it possible to provide the details for 34 and 36 and 12k (based on info below):

@carbuyer731 said: I am being quoted (for a 14 mini cooper hard top with auto transmission, moonroof, center console) an MSRP of $26950 (this is pre any negotiation on that) a monthly payment of $477.50. The money factor being: .001700, and residual at : 60% . What would be the base MF and residual for a comparable trim?

Cooper Hardtop - .00130 MF and 60% for 34/15.

2015_blue

• Are dealers allowed to offer below the baseline numbers? Or are they held to whatever any given month's numbers are?
• If ordering takes 8-10wk, do I get today's rates, or rates of the delivering month?

Michaell

@2015_blue said:

• Are dealers allowed to offer below the baseline numbers? Or are they held to whatever any given month's numbers are?

Dealers cannot modify the residual number at all. They can mark up the MF for extra profit but cannot reduce it from the base level.

• If ordering takes 8-10wk, do I get today's rates, or rates of the delivering month?

You can speak to the dealer, given that the numbers may change in that time frame.

2015_blue

Thanks Michaell. Are dealers required to use a higher MF when forgiving acquisition fee and/or security deposit? Or is that just a give and take negotiating tactic and it's actually up to the dealer to do so? Example, I'm quoted a MF of .0017, but if I want $0 acquisition fee and $0 security deposit, MF will be .00205. If dealers are required to go with the higher MF when reducing other factors, then I'll have to weigh which is more important to me. If dealers can forgive acquisition/security/etc and still offer baseline MF, then I'll know better my limits with negotiating. Thanks in advance for your advice.

Michaell

@2015_blue said:
Thanks Michaell. Are dealers required to use a higher MF when forgiving acquisition fee and/or security deposit? Or is that just a give and take negotiating tactic and it's actually up to the dealer to do so? Example, I'm quoted a MF of .0017, but if I want $0 acquisition fee and $0 security deposit, MF will be .00205. If dealers are required to go with the higher MF when reducing other factors, then I'll have to weigh which is more important to me. If dealers can forgive acquisition/security/etc and still offer baseline MF, then I'll know better my limits with negotiating. Thanks in advance for your advice.

Yes, waiving certain fees result in a higher MF. The base MF is .00130 before those adjustments. It's all about how much money out of pocket you want to spend at lease inception.

You should politely but firmly explain that you won't sign a deal with an inflated MF.

Not sure how many dealers you have to choose from, but you should reach out to another one to see if you can get a better deal.

2015_blue

Thanks! I'm looking at $0 down, $0 acquisition fee, $0 security deposit. To confirm, the base MF for 2015 Mini Cooper hardtop currently is .00130? Does MF change monthly; if so, on what day of the month?

Michaell

@2015_blue said:
Thanks! I'm looking at $0 down, $0 acquisition fee, $0 security deposit. To confirm, the base MF for 2015 Mini Cooper hardtop currently is .00130? Does MF change monthly; if so, on what day of the month?

Confirm .00130 base MF through 9/2/14. New numbers released on 9/3 - we should have them shortly thereafter.