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36/15K for $380 including tax.
Think I can do better?
She told me the residual is 68%.
The guy in San Francisco gave me .00375-.0040. Smoking dope!
36/15K for $380 including tax.
Think I can do better?
She told me the residual is 68%.
Bringing in $2500.
26100 or rather 28700 out the door if you purchased (10% TTL).
26800 financed for 72 months on 5% interest (navy fed rates), would be $473 a month.
After 36 months you will have paid 17,000 but you owe 15400 on the car and at 68% residual the car is worth 17,700. In reality it will probably be more like 72-75% of MSRP. But going off 68% residual, you could sell the car and walk away with $2300 cash, so your total outlay based on these conservative numbers is $14700.
I'd expect a value in the 72% range ($18,700), which would reduce your out of pocket to $13,700.
Can you tell if you should be even with payoff vs value at 24 months on the 72 month loan? If so, how does the $473 loan payment compare to expected payments on a 24 month lease?
Here are some questions I have: Although Crevier Mini in Santa Ana ridiculously mark up their cars, I talked to a salesman and told him I do not want any add-ons and want to get the car at MSRP. He said he would sell at MSRP but told me they add on their 6 year 100k maintenance and extended warranty for $2495 to the MSRP. I don't want to buy anything I did not intend on buying but if I were to decide to keep this care as my wife thinks I will given the fun factor, it may not be a bad idea to invest in such add-on. Any thoughts on the price given for the extended warranty?
Thanks in advance,
Light, small, and goes like stink. A much better car than a Mini - though yes, it's going to start about at what a loaded up Mini S goes for.
I got rid of my 2006 e90 and replaced it with n 07 Mini Cooper S. The 330i on paper is "better" than a mini too. Yet it's near zero fun to drive even with a manual and sport package. For 11k less than my 330i's 36k brand-new sales price I got a car that's a gas to drive daily.
The 1? It's light by comparison
For someone who was looking at a current generation 3 series and wants something smaller like a Mini, it seems to be a good compromise. Plus, the "M" version of the 1(though they can't call it a M1) is horrendously fast.
I don't think they were looking for fast as they were in a 328i - a car that's not even close to fast.
I've been shopping around for the best price on my mini and got the best quote from ASSAEL Mini. I'm trying to find out what anyone's experience has been with this dealership?
2007 MINI COOPER S:
$21,200.00 Base
650.00 Destination
450.00 Astro Black Metallic
300.00 Cold Weather Pkg.
1,400.00 Premium Pkg.
500.00 Dynamic Stabilty Control
1,350.00 6-Speed Automatic
200.00 Anthracite Headliner
1,500.00 Leather Punch Carbon Black
2,100.00 Computer Navigation System
300.00 Interior Surface English Oak
586.00 iPod Adapter installed
------------------
$30,536.00 Selling Price plus T & L
Out of the door price will read $ 33,413.51
'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
It's probably possible to get close to $40K for a Cooper S convertible with everything including tax and license.
I went to LongBeach MINI for a new MINI 2007, premium package and automatic transmission.
The total OTD was 23,900 and the MSRP was 21,200
Here is what the dealer offered for lease
Residual 70%
Money Factor .00335 (Initially he offered .0415 which i refused)
Down payment: $5000
Monthly payment: $220
I know it is not a very good deal. When I did not show interest at this, he became quite upset, he closed the book and said, that is not how you negotiate. Probably because initially he asked me what price would I be willing to buy and I said $220 monthly payment. :mad:
Guys, what is a good deal?
Money factor and residual, for a Credit score of above 700.
I was thinking that I should get a money factor of .0029 or something like that :confuse:
I have vehicles that I sell where the buy rate is in the .00335 range or so. It wouldn't surprise me if the MINI had a money factor like that as it is a very hot car.
However, before I could negotiate further, the dealer became very agitated because I asked for $220/month and he gave me the same with the MF of 0.00335, but through the forums, I knew it could be lower still. I could not proceed further.
Are there any dealers in SOCAL with a good MF/deal on a MINI Cooper 2007 lease?
Recommendations are welcome
From your original:
I went to LongBeach MINI for a new MINI 2007, premium package and automatic transmission.
The total OTD was 23,900 and the MSRP was 21,200
Here is what the dealer offered for lease
Residual 70%
Money Factor .00335 (Initially he offered .0415 which i refused)
Down payment: $5000
Monthly payment: $220
First, OTD on a lease is $2,700 higher than the MSRP? Why?! On a lease you only pay acquisition costs at the inception. What the blazes makes up the other $1900?
Find out the BMWFS lease rates and do the math on the markup and the acquisition cost. In almost every instance you're paying thousands more over the lease term.
15k miles/36 months at $21100 = $310 a month, with nothing down (maybe acquisition costs). That's 11160 total.
The 5000, $220 a month lease from BMWFS comes up to $12920 over the lease term.
This is an easy call.
****
My soul dies a little when I hear Mini and "automatic" in the same sentence...
It seems a little wrong, like seeing your grandma steal candy from a little kid.
I ordered a 2007 Mini Cooper S from East Bay Mini in CA Bay Area and the car is going to arrive next week.
I am going to lease it and here is what I received for 36 months/36k miles lease on a purchase price of $24,750:
LeaseCompare.com -
Monthly lease payment $328
Amount due at signing $2,328
Residual value $15,593
Money factor 0.00266
The dealer quoted me -
Monthly lease payment $359
Amount due at signing $1,953
Residual value $17,077
Money factor 0.00350
I thought LeaseCompare gave me a better deal. But the sales manager told me she never dealt with independent leasing company and probably not going through with it. :mad:
What do you think about these rates? Do any of you actually get the Mini with LeaseCompare? :confuse:
Thanks for the reply
When I went to buy my MINI I made a deal with them on the phone with them knowing I live two hours away, when I got there they bold faced lied to me and the things they told me were ridiculous. Including that "Kelly Blue Book undervalued the car and they were philisophically opposed to selling me the car at the agreed price" and told me that they had two sales people by the same name (the one from on the phone never told me that and knew I was coming that night) and he was "being overly optimistic on the price".
I was very angry that they treated me the way I did when I was ready to walk away with the car. But they did the best thing in the world for me because I ended up happier with the Red MINI I bought at Nick Alexander in LA. (which I also made a deal with on the phone they held the car for me and took me straight back to sign the papers no dealing, no pushing just helpful service and a car to drive home in at the price we agreed on.
I also wanted to add I am not the only one who has had issues of this sort with Universal. But I heard their service department is decent and way better then Monrovia (who I will never let touch my car AGAIN!).
Again this is just my opinion and experience with them.
And yes I got some very fun freebies when I got my little *Meep, Meep*
They don't advertise this rate and I had to do a lot of searhing to find it. They were originally offering me .00335mf which is obscene. I would talk to them and tell them you want a better rate or walk. Unless of course your credit isn't great.
My car is on order and I will be leasing for 36 months 12K per year and I will be paying $386 including tax. The total value of the car is $26,820.00. Residual is 68%. My drive off fee is $1950 (all of this is going towards 1st month, Car Acquisition fee, Title and fees. It also includes that $400 security deposit which I am still discussing with my salesperson. None of it is giong to decrease the car value.)
In my opinion you are getting hosed. If your credit is good, I'd walk from this deal and reorder.
In this case, making a security deposit is to your advantage.
regards,
kyfdx
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Anyway, like to share some thoughts:
Got omy MINI S Conv. from Nick Alexander just a little bit below sticker price. $35,000 out of the door, with an MSRP just below $33,000 )
Great people to work with. In and out of the dealership with in 2 hrs.
Not sure if I can post this.... Had a very bad experience at Assael MINI. I have been thinking about getting a new MINI for a long time, since I am a big MINI fan (have an original 71 MINI 1000, AUTO RHD). I went to Assael MINI first, since they are the closet to me. The sales person came out and greeted me, then asked what I currently drive. Told him, I have a Civic. Then, I asked him if I can have a MINI brochure. He told me MINI don't give out brochures. Then, walked away. (
Plus, ASSAEL's MINI service dept is terrible. No one answers the phone over there and if you try to leave them a message, most likely they won't reply.
Additionally, I'd love your input, do you guys think that there will be much of a change in interest rates for October, since it is the first time the 1/2 point cut will affect BMW Financial or other Lenders? If it will, then waiting until the 1st to pick it up would be worth it.
What can/should I do???
The prices that i have been quoted are from 26k to 33k.
please let me know.. and where is the best place to purchase.. if i am going to spend 25K should i consider another car? honda accord coupe??
mini enthusiast.
San Francisco, CA
What you spend after that just depends on the options you want. The stipper S is not a bad price, but if you want sports pack, premium, convenience, etc you end up with a lot of money in the car.
I test drove a new Cooper S just the other day and I TRIED to love the car, but that much power and FWD = massive torque steer. The car with sports pack and runflats is stiffer than my S2000 and stiffer than my RX-8, M5, ;vette, and any number of other cars used to be. But this is not "good" stiffness, it is rough ride stiffness.
Look could look at the Si coupe and sedan, the sedan for sure can be had a nice price. For $30k you could also look at the 350z, Mustang GT, and even a left over 07 G35 coupe ($2,500 in dealer money on those now).
The MINI is cute inside and out, and if you don't mind the BMW-esqe high failure rate and the FWD torque steer and small size can be a real hoot. But there are other FWD choices and lots of nice RWD cars to look at as well given the high price of a loaded MINI.
Dennis