Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
actually a friend told me today that when it comes down to buying it at residucal price after a year, I probably can negotiate it down from there because they probablyw ould be more willing to drop it by 1000 or maybe more to sell it to me, rather than have it hang around the lot somemore...esp since at that point I guess 2008s will already be in...
The bigger issue is that you will lose all of the money you put down if the car gets totaled or stolen even with gap insurance.
If you have problem credit, it's true that they may not "let you" take the car with less or zero down.
It makes more sense to put money down on a purchase rather than a lease.
my credit is excellent so that shouldn't factor in, but I still am not sure what I'm supposed to say to them, I'm due to leave to go pick the car up and sign the lease in about 2 hours...
Do the math, though.. It should add about $115/mo., once you factor in finance charges.. Taxes should be a wash, as anything you roll in, won't be taxed upfront..
Just add up your total expenditures that you have on your current deal and match them up to the new deal with the extra rolled in. The difference shouldn't be more than $50-$70 for extra finance charges..
regards,
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
I love her!
More later!
Just joined navy fed last month. Credit scores in the 800s too.
My deal was this:
MSRP on car was 24,200
I put 1800 down plus taxes/regis etc. (there was no security deposit required),
so in total paid $2350ish includes 1st month 169/month.
My next 11 months are 169/month and that includes taxes.
To buy the car later I pay roughly 21, 300 residual.
I'm not entirely sure of the rates and money factor (although at one point It hink he told me it was .0022, although don't remember now.
I could be wrong, but I think I got a pretty good deal!
For me this was good, a baby commitment, since I'm not sure exactly what I want and DEFINITELY did not want to lease 3 years--would rather buy in that case.
so this one year tester--with no apparent penalty that I can tell--they don't seem to be making a huge amount out of it if I buy later.
Plus one friend told me that it's possible to renogiate the residual price when it's time to buy, cuz it's easier for htem to knock a thousand off than to keep it on the lot another few months and start all over. I asked my sales guy about this and he said that typically they did not ahve a practice of doing this but it was possible.
and my leasing was thru BMW.
check out the Hassel website under 'specials'
I'm thinking about buying a Mini Cooper S fairly soon and I'm looking for some purchasing strategy advice.
The Mini dealer is less than 6 miles from my apartment and they seem really nice. I'm probably going to order my car custom, going for the Mini Cooper S with the Sport Package and a few other add-ons.
I was informed by the dealer that you must put down a $2,000 deposit before they order one's car from the factory. I assume you handle payment once it arrives to the dealer.
Since the car is a MINI, and it's a special order, I realize that there's little to no room for bargaining on the MSRP. The dealer told me that they fill the tires with nitrogen and install and alarm system when it arrives, which adds roughly another $1,000 to the final MSRP. Do I have the right to refuse these dealer installed options?
Additionally, I plan to finance the car, putting down a good amount, and getting a loan on the remaining difference. Since I'm special ordering this car, it's assumed I will buy it regardless. However, I do want bargaining power when it comes to getting a good APR rate on the loan. I have a very good credit rating and I believe I should be able to get a competitive loan offer from my bank. Should I arrange this prequalified loan before I put down the $2k to order the car?
My question is: do I still have bargaining power over the finance rate even though I'm already committing to buy the car? Thanks in advance!
Best,
Joshua
On the extras, I would tell them to keep them off the vehicle as they are just total nonsense and adding them gives you little or no value. They do add a lot to the dealers bottom line though. I would have no part of them if I were purchasing and I advise you to do the same.
Regarding rates, get your rate and pre-approval and offer to let them beat it if they like to try. Only consider apples-to-apples on that front, the exact same amount for the exact same period. If they try anything different I would be very concerned about how good a group they are to deal with.
You have the power to work that rate all the way up to you handing them the check from your other source of financing.
You also have the power to deny the padding of extras on the car before signing the purchase order.
I suggest you use all the tools at your disposal to get the best deal and the best rate you can. These cars are 'hot' in the market but if they press to hard I would look for an alternative if you have any. I would not be shy about letting them know that as well, if you have to have this particular car it will make dealing with the purchase and financing a lot more difficult.
Good Luck.
Just wanted to report a great experience at Long Beach Mini. A very friendly a no-pressure sales team. They had several on-the-lot models to choose from and coincidently had the exact configuration I was looking for. Sale price was MSRP, and they threw in my choice of floor mats and LoJack complementary. Also gave me a great finance APR. I highly recommend this dealership to anyone looking for a Mini.
Additionally, they will build to order with no premium and will sell you car when it arrives at MSRP. Good times!
(2007 MINI Cooper S, Astro Black, Sport Package, Lounge Leather, LS Differential, Sport Suspension, Rear Fog Lamps, Hi-Fi Audio System)
I was also able to put 1800 down to order (not '2000'). Yes you can do and say no to wahtever options you want. Sounds like you should ask around. I went to the dealer not 2 miles from me, but 30 miles from me..
Something is missing.
So basically I my upfront money was
Down payment (Cap cost reuctions) 1799
first month 169
no security deposit
no 'intial title fee'
regist fee 127
licence fee 10
sales/use tax 175
no acquisition fee
sales tax on cap cost 155
Doc fee 45
NYS tire fee 12.50
so total I paid was 2492.96 which incl 1st month
then 11 months at 169 which will total 1859
So for the year to 'rent' a 24,200 car it is 4351 or 362/mth incl everything
(oh my Geico insurance is 440/thg months)
And just looking at what I"m paying for if I buy--
1800 down
2028 12 mnthly payments
21,300 residual fee buying later
totals 25, 128
so they make 928 extra on the 24,200 car (or 77/mth on the 1 year lease)
that seems sort of fair to me. I'm new to this so don't really know but seems ok.
What I hope to do is save up and pay outright if I can, or most of it, so if I buy after one year, I'm not financing it.
Also, a friend told me that there is a chance they they might lower the residual, even by a thousand bucks to sell it to me later. In which case, I wouldn't ahve lost out at all (I think)
(I realize that there are some palces where I may pay tax twice or soemthign, not sure about that, but overall seems like a fair shake...please correct me anyone if I'm missing out on something major!)
Gross cap cost: 23,400 (actually MSRP was 24,200 on the sticker acc to options)
Cap cost Reduc (down payment) 1800
Adjusted Capitalized Cost: 21701
Residual value: 21,296
Depreication and any amoritzed amoutns: 405
Rent charg: 1625.28
total of base monthly 2030
lease payments 12
base ontly/ 169.19
montly sales/use tax n/a
totaly montly paymetn 169
(I've rounded out a few numbers)
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
It looks like she got $800 off, which given the high residual made for a decent one-year lease.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
I live in Miami, Fl. I had to special order my car which the last week of Feburary, 2007 - ALL I had to give them was $1000.00 which they never cashed. My final total on the car came to $33,400.00-$34,000.00 (07 Mini S Convert; Pepper White, includes Premium & Sport packages with 17" 5 spoke rims additioanl $500.00 /wheels & black bonnet strips), I has to get it stick (manual) what a difference in speed), Leatherette ( I already have a cr with leather and with times it gets destroyed) cockpit $300.00, interior $200.00(same color as the outside if the car)and I purchased for $450.00 a 4 year plan or 40,000.00 miles whichever comes first (don't remember exactly which one but out of the four to choices I purchased the most expensive.) I didnt relealize that the tires I purchased are not repairable hence, no patches or plugs. they are no run flat tires, if I get a flat or a nail in the tire I have 80 miles to reach a tire dealer had the dealer a piece of paper (I was given at Mini) to them and must replace my tire for FREE EXACT same ones. I will have you know that these tires run about $360.00 a pop. So its just something for you to think about. Good Luck I LOVE MY MINI S CONVERT and I have NO REGRETS especially with the extras'
Anyway, I am strongly considering buying a 2007 MCS in Astro Black, Laser Blue, or one of the silvers with premium and sport packages, hi-fi sound system, sport suspension, and a few minor accessories. MSRP on the car that is around $26-$27k, and I'm wondering if anyone in the Southern California area (or near the Bay Area/Sacramento) has had any luck getting a dealership to go below exact MSRP for a finance purchase. I've been quoted MSRP by Long Beach Mini and a dealership in LA...
Also, does anyone have any experience with the college program? Is it a discount service or just financing assistance for recent grads?
Thanks in advance for any information you can provide..... :shades:
also, not sure if anyone noticed this, but the back pocket on the 2007 sports seats is SO crappy. it's half a piece of mesh netting that's very flimsily put on, it really can't hold anything but a pair of sunglasses or something very small and light. Conversely, the 2006 REGULAR non-sport seats have an excellent mesh pocket in the back, twice the size and not just tacked on but has proper sides attached to the mesh. SOOO weird that they would WORSEN this feature on the seats you now have to pay for, when it was standard and free before...
I got my first scratch. don't know how. darn.
also my armrest top has come off and I can't get it back on.
otherthan that I"m thrilled with the car. Have gotten several compiments from NYC cabdrivers on the road.
my check engine light came on a few days ago which freaked me out, but I think it was because the gas cap was not screwed on pproperly...had my Minnie the Mini for 9 days now.
there's a lot of back and forth on this topic. some think that you should change the oil after the first 1,000 miles to get any engine shavings out that happen during the engine break-in. my dealer swears by the 10,000 mile oil change.
I just figured I might as well get mine changed early... can't hurt anything and can only help. So I got mine done at 3,000 miles and paid for them to do it ($45 in labor plus $36 in oil that I bought at Costco. I then went on a trip to the West Coast and had it done when I got back since I put another 4,000 miles on it. The next change is in another 3,000 miles and will be part of the 10,000 checkup.
If you're worried about it, I would do the 3,000-4,000 mile change, although everyone says the synthetic oils will hold up for 10,000.
Some vehicles have special break in oil that absolutely should not be changed ahead of schedule by over anxious owners. Changing the oil early would cause you to lose the benefits of using the special oil for the specified period.
Other manufacturers run the engines at the factory and replace the first oil before it's installed in the car or manufacture the engines with newer techniques that don't result in contamination problems from 20 or 40 years ago.
Not sure if that applies to Minis or not, but you can ask your dealer and/or the BMW/Mini corporate offices rather than taking it upon yourself to change the oil at 20 miles or 500 miles because of 1960's era metal shavings fears.
any advice would be appreciated.
Nissan reliability is typically good. Value? Well, it depends on what you want out of a vehicle. I think the Altima may seem like a better value because you are getting "more" car (literally). BUT, the Mini blows it away in the resale department.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Cooper will hold its value, has some free service and it's a blast to drive.
For me it's an easy choice - fun.
Did I just answer my own question, or should I wait it out and test drive the coupe? Thanks for all the help.
Get the Mini S. :shades:
It's going to be economical, more fun, and you're single--can't think of a much better car for someone young and single--whoever you date will love the Mini too. In fact you might end up meeting people because of the Mini; probably not going to happen with the Altima.
The Altima will have a leg up on reliability, but otherwise for what you're describing, I'd get the Mini without a second thought.
But if you get the Altima, I suspect you're going to have a bit of a twinge everytime you see a Mini driving down the road. If you buy the Mini, and you see an Altima, I doubt you're going to have any second thoughts...
So annoying. I'm about to do a lot of driving over Mem Day Weekend. The car runs fine, but it doesn't make you feel too comfortable with that dang light on.
At least I'm only leasing the car for one year so if it really is a bigtime fault and gets worse, I can give it back!
I have gotten into some really tight parking spaces that otherwise I wouldn't have been able to which is really nice.
2007 Pepper white mini cooper S
6 speed manual
black checkered cloth seats
cream white color line
chrome line interior
DSC
LSD
multi function steering wheel
16 inch run flats
front and rear floor mats
MSRP = $23,700 PAID $22,500
I'm considering buying a new 2006 Mini (standard). I've seen such mixed reviews on the 06 (especially clutch problems), but the 06 is rated better than earlier models (and better than the 07 because of the new engine). What's the consensus on the 06, and on buying a new car from the last model year?
thanks
The dealer tried to sell me a car from the lot. they all had pleather and told him that its hot in the summer and cold in the winter. he stated that the "new" pleather is breathable. I couldnt help but laugh...then told him to order a new car with cloth!
I tried to post an earlier post with the dealers phone number and my post was deleted because they don't allow phone numbers at this forum. The dealership is called "Mini of the Hamptons". im not allowed to mention the dealers name as well but look for a guy who is 6'6" who's wife is expecting any day now.
The msrp for my car is 23,685. he sold me the car for 22,500. I made out a check for the full amount.
Best of luck....and let me know what happens.
p.s. it will help a great deal if he thinks that you plan on making the purchase right now.