2015 MINI Cooper Lease Questions

Michaell

ussini said:

I am unaware if the car is coming from somewhere else. I will ask that question. Thx.

If the car is coming from somewhere else, is it reasonable for them to pass that cost to along to me as fee? I haven't seen it done that way before. I would have expected them to factor their addl cost into their offer price.

Thx for the advise.

That's between you and the dealer to negotiate. Years ago I bought a car that was brought from a dealer about 60 miles away. It was a dealer swap, so the other dealer got a car in return. No charge to me, however.

jorgerunfast

A dealer just sent me the following top level "lease I just sold today" as an example on a 2015 Countryman JCW:

MSRP: ~$46,000
36 months
10,000 Miles
$2,500 Down
$825/mo including 6.5% tax

This seems insanely high to me. In order for me to back into that, with an MF of 0.00130 (seems like the going MF), I'd need a residual value at around 40% to get to that number.

It seems like the dealer is just high-balling me.

Any thoughts? Could I be missing something?

I know I'm using very rough estimates, but it just seems way too high to begin with.

Michaell

jorgerunfast said:

A dealer just sent me the following top level "lease I just sold today" as an example on a 2015 Countryman JCW:

MSRP: ~$46,000
36 months
10,000 Miles
$2,500 Down
$825/mo including 6.5% tax

This seems insanely high to me. In order for me to back into that, with an MF of 0.00130 (seems like the going MF), I'd need a residual value at around 40% to get to that number.

It seems like the dealer is just high-balling me.

Any thoughts? Could I be missing something?

I know I'm using very rough estimates, but it just seems way too high to begin with.

What is the selling price?

What is the breakdown of the $2500 down?

What state is this? Lease tax obligations vary based on where you live.

$46K is an insanely high price for a MINI Countryman. Must have every option and accessory on it to get to that price.

We don't yet have the January numbers from MINI, so can't model a payment.

mibnyc

Dear moderator. Im in manhattan and looking for a 36 month 10k lease for mini coop convertible 2015. What are the MF and residuals please

kyfdx

mibnyc said:

Dear moderator. Im in manhattan and looking for a 36 month 10k lease for mini coop convertible 2015. What are the MF and residuals please

At this time, we have no MINI information for January.

indies

Hi there, can you tell me if you have MF and residuals for January available? I was interested in the following lease scenarios:

2014 Mini Cooper S Hardtop 36 months, 12K option and 15K option

2015 Mini Cooper S Hardtop 36 months, 12K option and 15K option

I haven't decided on mileage quite yet and was curious to see the differences between the two if possible.

Thanks.

Michaell

indies said:

Hi there, can you tell me if you have MF and residuals for January available? I was interested in the following lease scenarios:

2014 Mini Cooper S Hardtop 36 months, 12K option and 15K option

2015 Mini Cooper S Hardtop 36 months, 12K option and 15K option

I haven't decided on mileage quite yet and was curious to see the differences between the two if possible.

Thanks.

2015 - 57% and .00109 for 40 months, 15,000 miles per year. Add 2% for 12K.

No lease numbers for the 2014 model year.

indies

Michaell said:

indies said:

Hi there, can you tell me if you have MF and residuals for January available? I was interested in the following lease scenarios:

2014 Mini Cooper S Hardtop 36 months, 12K option and 15K option

2015 Mini Cooper S Hardtop 36 months, 12K option and 15K option

I haven't decided on mileage quite yet and was curious to see the differences between the two if possible.

Thanks.

2015 - 57% and .00109 for 40 months, 15,000 miles per year. Add 2% for 12K.

No lease numbers for the 2014 model year.

@Michaell Thank you very much, I certainly appreciate it! Have a great day.

pjo1966

Does Mini (or BMW) ever have a Zero Down promotion for leases?

Michaell

pjo1966 said:

Does Mini (or BMW) ever have a Zero Down promotion for leases?

I've not seen one, but that doesn't mean you can't make an offer that only includes the necessary up front charges (fees and taxes) with $0 cap cost reduction.

pjo1966

That's what I've done in the past. I was just wondering if they ever had any official deals. Thanks for the response!

gced99

I'm looking for the January MF and RV for a 2015 Mini Cooper Hardtop 4-door (both "Justa" and "S" variants) for 36 month (or 39,40) 15k per year. Thank you very much for your help.

Michaell

gced99 said:

I'm looking for the January MF and RV for a 2015 Mini Cooper Hardtop 4-door (both "Justa" and "S" variants) for 36 month (or 39,40) 15k per year. Thank you very much for your help.

40 month / 15,000 miles per year:

4-door Hardtop - 57% and .00121

Hardtop S - 57% and .00115

mibnyc

I was quoted $580 a month for a 30 month lease $3500 down on a 2015 cooper s conv with 12K a year. MSRP 37K. Good ?

Michaell

mibnyc said:

I was quoted $580 a month for a 30 month lease $3500 down on a 2015 cooper s conv with 12K a year. MSRP 37K. Good ?

Not enough information ... what is the selling price? What is the breakdown of the $3500 down - how much is cap cost reduction?

That said, $580/mo for a car that stickers for $37K doesn't look that good on the surface, but the devil is in the details.

mibnyc

Michaell said:

mibnyc said:

I was quoted $580 a month for a 30 month lease $3500 down on a 2015 cooper s conv with 12K a year. MSRP 37K. Good ?

Not enough information ... what is the selling price? What is the breakdown of the $3500 down - how much is cap cost reduction?

That said, $580/mo for a car that stickers for $37K doesn't look that good on the surface, but the devil is in the details.

Selling price is $37k ..don't know about cap reduction

mibnyc

mibnyc said:

Michaell said:

mibnyc said:

I was quoted $580 a month for a 30 month lease $3500 down on a 2015 cooper s conv with 12K a year. MSRP 37K. Good ?

Not enough information ... what is the selling price? What is the breakdown of the $3500 down - how much is cap cost reduction?

That said, $580/mo for a car that stickers for $37K doesn't look that good on the surface, but the devil is in the details.

Selling price is $37k ..don't know about cap reduction

The conv is practically fully optioned out and have to wait 4 weeks for it

Michaell

mibnyc said:

mibnyc said:

Michaell said:

mibnyc said:

I was quoted $580 a month for a 30 month lease $3500 down on a 2015 cooper s conv with 12K a year. MSRP 37K. Good ?

Not enough information ... what is the selling price? What is the breakdown of the $3500 down - how much is cap cost reduction?

That said, $580/mo for a car that stickers for $37K doesn't look that good on the surface, but the devil is in the details.

Selling price is $37k ..don't know about cap reduction

The conv is practically fully optioned out and have to wait 4 weeks for it

For $37K, it better be fully optioned.

OK, the MF this month is .00125 and the 36/12 residual is 59%. Using $37K as both the MSRP and net cap cost, I get a pre-tax payment of $494.93. Dealer may be marking up the MF on you.

Also, your quote probably includes tax - where do you live? Tax obligations for a lease vary by state.

mibnyc

Selling price is $37k ..don't know about cap reduction


The conv is practically fully optioned out and have to wait 4 weeks for it

For $37K, it better be fully optioned.

OK, the MF this month is .00125 and the 36/12 residual is 59%. Using $37K as both the MSRP and net cap cost, I get a pre-tax payment of $494.93. Dealer may be marking up the MF on you.

Also, your quote probably includes tax - where do you live? Tax obligations for a lease vary by state.

Manhattan

Michaell

mibnyc said:

Selling price is $37k ..don't know about cap reduction

The conv is practically fully optioned out and have to wait 4 weeks for it

For $37K, it better be fully optioned.

OK, the MF this month is .00125 and the 36/12 residual is 59%. Using $37K as both the MSRP and net cap cost, I get a pre-tax payment of $494.93. Dealer may be marking up the MF on you.

Also, your quote probably includes tax - where do you live? Tax obligations for a lease vary by state.

Manhattan



NY calculates tax for the entire lease up front - you can choose to pay it at lease inception (along with other fees) or add it into the cap cost and pay it over the length of the lease.

dubinv

Anyone know the February MF and residual for a 2015 Cooper for 36 month (or 40) 15k per year ?

kyfdx

dubinv said:

Anyone know the February MF and residual for a 2015 Cooper for 36 month (or 40) 15k per year ?

The January program is good through March 2nd.

.00121 MF and 58% residual for 36mo, 15K/yr

jvos

Hi All - Are MINI leases attractive like BMW leases? A quick scan of past posts would seem to show they are not, but I'm looking for a confirmation.

Michaell

jvos said:

Hi All - Are MINI leases attractive like BMW leases? A quick scan of past posts would seem to show they are not, but I'm looking for a confirmation.

I'm not sure what you mean by attractive - the MF for the supported 40 month leases this month are actually less than the BMW base MF.

MINI is a different type of car than a BMW, so different factors that affect the residual apply.

jorgerunfast

Could you please share the current MF and residual for a Countryman S, 36 months, 10k/12k?

Thanks!

Michaell

jorgerunfast said:

Could you please share the current MF and residual for a Countryman S, 36 months, 10k/12k?

Thanks!

.00123 and 63% for 36/10. Subtract 1% for 12K

jorgerunfast

I think I have a pretty good deal before me, but curious what others think...

2015 Countryman S Frozen Black Edition w JCW packages
MSRP: $41,000
Sale Price: $38,400 (~6% discount from MSRP)
36 months, 10k/yr
Paying inceptions out of pocket: $1,824
Cap cost reduction of $186 (just rounding the cash due at signing up to $2,000)
$465/mo + tax

I forgot to ask them for the MF, but when I use the standard MF, $465 is the number I wind up with.

Does it seem like there's room for improvement anywhere in this deal?

Based on the TrueCar pricing, 6% off SRP seems better than the guidance they offer, and the "Frozen Black" is a limited release, so I wasn't expecting to receive such a nice discount.

I would've liked to be at $445 before taxes, but they'd have to offer closer to 10% off SRP to get there. Not sure if that's realistic.

Thanks!

EDIT: I'm not sure what I did wrong yesterday, but now I plug in the numbers above in the Edmunds lease calculator using standard MF, and the number I get is $451 + tax.What am I doing wrong?

Thanks again.

Michaell

jorgerunfast said:

I think I have a pretty good deal before me, but curious what others think...

2015 Countryman S Frozen Black Edition w JCW packages
MSRP: $41,000
Sale Price: $38,400 (~6% discount from MSRP)
36 months, 10k/yr
Paying inceptions out of pocket: $1,824
Cap cost reduction of $186 (just rounding the cash due at signing up to $2,000)
$465/mo + tax

I forgot to ask them for the MF, but when I use the standard MF, $465 is the number I wind up with.

Does it seem like there's room for improvement anywhere in this deal?

Based on the TrueCar pricing, 6% off SRP seems better than the guidance they offer, and the "Frozen Black" is a limited release, so I wasn't expecting to receive such a nice discount.

I would've liked to be at $445 before taxes, but they'd have to offer closer to 10% off SRP to get there. Not sure if that's realistic.

Thanks!

EDIT: I'm not sure what I did wrong yesterday, but now I plug in the numbers above in the Edmunds lease calculator using standard MF, and the number I get is $451 + tax.What am I doing wrong?

Thanks again.

FWD or ALL4?

If I use the FWD numbers of .00123 and 63% for 36/10, I get a pre-tax payment of $422.77 (I am using the adjusted cap number of $38,214).

Ask the dealer what the net cap cost number is ... my guess it's higher than the sale price they are quoting you.

jorgerunfast

Thanks Michaell... It's a FWD.

Just so I learn how to do this right, could you check the numbers I'm using in the calculator and tell me what I'm doing wrong?

I'm filling in the fields in the lease calculator as follows:

Vehicle Sales Price or Capitalized Cost: $38,400
Title, Registration, Other fees: $1,824
Cash Down Payment, or Other Capitalized Cost Reduction: $2,000
Lease Residual Value: $25,830 (63% of 41,000)
Money Factor: 0.00123

All other fields entered at 0.

Total Loan Amount: $38,224
Monthly Payment: $451

If I reduce the first field to $38,214 (as I believe you're doing), I need to remove $186 from the third field, otherwise I would be double-dipping, wouldn't I?

jorgerunfast

I just used another lease calculator, and also got to $422.77.

It seems they're either being disingenuous about the sale price, or they're killing me on the MF. I'm going to ask them what MF they're using.

Michaell

jorgerunfast said:

Thanks Michaell... It's a FWD.

Just so I learn how to do this right, could you check the numbers I'm using in the calculator and tell me what I'm doing wrong?

I'm filling in the fields in the lease calculator as follows:

Vehicle Sales Price or Capitalized Cost: $38,400
Title, Registration, Other fees: $1,824
Cash Down Payment, or Other Capitalized Cost Reduction: $2,000
Lease Residual Value: $25,830 (63% of 41,000)
Money Factor: 0.00123

All other fields entered at 0.

Total Loan Amount: $38,224
Monthly Payment: $451

If I reduce the first field to $38,214 (as I believe you're doing), I need to remove $186 from the third field, otherwise I would be double-dipping, wouldn't I?

The cash down payment is only the $176 delta from the $2000 total - the rest is going to other fees, etc.

Unless you are giving the dealer $3800 - but I don't think you are.

lisalisa57

Hi there, I was wondering if anyone had the residuals and money factor for the 2015 hardtop 4 doors? 36/15k year? Is anyone getting discounts off theSe? If so, what kind of discounts? Does mini offer MSD to buy down the MF?  

Thanks so much!! Any help would be greatly appreciated. Been working with - couple of dealers and getting all different answers..

Michaell

lisalisa57 said:

Hi there, I was wondering if anyone had the residuals and money factor for the 2015 hardtop 4 doors? 36/15k year? Is anyone getting discounts off theSe? If so, what kind of discounts? Does mini offer MSD to buy down the MF?  

Thanks so much!! Any help would be greatly appreciated. Been working with - couple of dealers and getting all different answers..

.00121 and 57%.

I believe MINI offers MSD to buy down the MF - if it's similar to BMW (MINI corporate owner), then you can apply 7 MSDs, each of which will take off .00007 from the MF.

lisalisa57

Thanks so much for a super fast response 

izmir41500

Can I get the lease info for a 2015 MINI Paceman S ALL4 36/15k year MSRP around $33k? Will this change much for April/May?

kyfdx

izmir41500 said:

Can I get the lease info for a 2015 MINI Paceman S ALL4 36/15k year MSRP around $33k? Will this change much for April/May?

.00123 MF and 59% residual.

No idea what might happen in the future.

gilberto121

Hi there! Can you please provide me with the residual and money factor for a 2015 Mini Cooper S Convertible with a 36 mo./15,000 mile lease? Are there any promos? Finally, what is the best way to negotiate the price of the car? Do I peg it to invoice price? Thank you very much for all your help.

kyfdx

gilberto121 said:

Hi there! Can you please provide me with the residual and money factor for a 2015 Mini Cooper S Convertible with a 36 mo./15,000 mile lease? Are there any promos? Finally, what is the best way to negotiate the price of the car? Do I peg it to invoice price? Thank you very much for all your help.

.00125 MF and 54% residual.

Some MINI dealers won't negotiate. Not a lot of local competition. Just do the best you can.

pjo1966

I've got the following deal on the table:

2015 Mini $21,553
MF .00205
Residual Value 61%= $14,060.50
$1000 drive-off
$279+tax

I was told they were selling it for below Invoice, but that it was a bare bones model without any options. That doesn't add up to me since invoice on a bare bones 2015 Cooper should be around $20,500. I have some room to negotiate here, correct? This was all over phone/email. I'm going in person tomorrow.

Michaell

pjo1966 said:

I've got the following deal on the table:

2015 Mini $21,553
MF .00205
Residual Value 61%= $14,060.50
$1000 drive-off
$279+tax

I was told they were selling it for below Invoice, but that it was a bare bones model without any options. That doesn't add up to me since invoice on a bare bones 2015 Cooper should be around $20,500. I have some room to negotiate here, correct? This was all over phone/email. I'm going in person tomorrow.

Which model of MINI?

Is the $21,553 the MSRP or the negotiated price?

Base MF this month is between .00106 and .00130, depending on model, so your dealer is absolutely marking that up on you.

Also, what is the breakdown of the $1000 drive off?

pjo1966

It's a 2015 Mini Cooper Hardtop. What should the MF & residual be for a 3 year lease with 36,000 miles? (the quote above was for 30,000 miles).

I don't know how they're breaking down the $1000.

Michaell

pjo1966 said:

It's a 2015 Mini Cooper Hardtop. What should the MF & residual be for a 3 year lease with 36,000 miles? (the quote above was for 30,000 miles).

I don't know how they're breaking down the $1000.

.00121 and 60% for the Cooper Hardtop 36/12

pjo1966

I see the Paceman info for March is .00123 MF and 59% residual. What would it be for the Countryman (3 years 36,000 miles)? I'd like to keep my options open when I go to the dealer.

Michaell

pjo1966 said:

I see the Paceman info for March is .00123 MF and 59% residual. What would it be for the Countryman (3 years 36,000 miles)? I'd like to keep my options open when I go to the dealer.

.00123 is for the Paceman S ALL4 - the numbers on the equivalent Countryman S ALL4 are .00118 and 61%

pjo1966

Would the numbers be the same without All4?

kyfdx

pjo1966 said:

Would the numbers be the same without All4?

No

sophiagrammer

Hi There,

I was hoping you could help me as well. Im looking at a 2015 Mini Cooper 4 door Hard Top

The MSRP is 24650. The Money Factor is .00175 (which I believe based on your earlier post is inflated) with the 1500.00 fees paid up front the monthly payment they're claiming is 416.13 a month with tax.

That seems incredibly high to me. Any chance you can help sort this out for me?

Thanks so much.

Sophia

sophiagrammer

Sorry. I should have also mentioned the lease term is 36 months and 10k miles

Michaell

sophiagrammer said:

Hi There,

I was hoping you could help me as well. Im looking at a 2015 Mini Cooper 4 door Hard Top

The MSRP is 24650. The Money Factor is .00175 (which I believe based on your earlier post is inflated) with the 1500.00 fees paid up front the monthly payment they're claiming is 416.13 a month with tax.

That seems incredibly high to me. Any chance you can help sort this out for me?

Thanks so much.

Sophia

sophiagrammer said:

Sorry. I should have also mentioned the lease term is 36 months and 10k miles

Yes the MF is marked up on you ... base MF is .00121 and the 36/10 is 60%. What is the selling price? We need that in order to model the payment.

But, $400+/mo for a car that retails for less than $25K does seem a bit excessive.

pjo1966

When we're negotiating with the dealer should we tell them what we think the money factor should be? What should we quote as the source of this number?