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MINI Cooper Prices Paid

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Comments

  • jaxs1jaxs1 Member Posts: 2,697
    Mileage and wear and tear still matters if you buy since it will be worth less with high mileage and wear, but it won't you cost nearly as much in resale value as they would penalize you for excess mileage on a lease.
  • azorglubazorglub Member Posts: 43
    Note that Mountain View and Pleasanton require $1000 deposits when ordering a Mini. MV also wanted me to fill out a credit application (when ordering) despite financing it through my own Credit Union. So we went with Concord ($500 deposit, no credit application) and got free floor mats. They also provided better follow up on my inquiries. Now, we just have to wait for the car. :)
  • azorglubazorglub Member Posts: 43
    8% does not make any sense when you can get a 6% loan on a car.
  • meredith07meredith07 Member Posts: 7
    Mini priced at $26,100
    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!
  • jaxs1jaxs1 Member Posts: 2,697
    You are posting monthly payments without posting how much money you need to put up to start and end the lease.
  • meredith07meredith07 Member Posts: 7
    Mini priced at $26,100
    36/15K for $380 including tax.
    Think I can do better?

    She told me the residual is 68%.

    Bringing in $2500.
  • blueguydotcomblueguydotcom Member Posts: 6,249
    Hmmm. So total cost to you: $16180 over the lease.

    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.
  • jaxs1jaxs1 Member Posts: 2,697
    What about 84 month loans? The interest rate will be higher, but the payments will be lower for those who want cheaper payments rather than having that much equity at 36 months.

    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?
  • solinsolin Member Posts: 13
    I was about to buy a BMW 328i, had the sales person ready to transfer the model I'm looking for from another dealer, meanwhile I decided to stop by the Mini dealer with my wife and show her why I was so excited to look into a Mini in spite of the fact that it's not very family friendly. After taking a test drive on a Mini S - we had already test driven the 328i a few minutes earlier - my wife and I had a smile on our face because of how fun the Mini was to drive. Needless to say, I'm buying a Mini now no matter what.

    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, :)
  • blueguydotcomblueguydotcom Member Posts: 6,249
    Contact other dealerships. That's a ridiculous add-on.
  • plektoplekto Member Posts: 3,738
    Hhe. THat;s usually how it happens. But I'd wait a couple of months until the BMW 1 series comes out. It's very much like the older 3 series from ten to fifteen years ago.

    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.
  • blueguydotcomblueguydotcom Member Posts: 6,249
    The 1 series is not light , there's no proof it's better than a Mini and a 128 will easily be 600 pounds heavier than a Mini. If you want to save cash, a 1 series via ED would probably make it quite cheap (far cheaper than a Mini).

    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.
  • plektoplekto Member Posts: 3,738
    Well, I agree. The problem with the current 3 series are that they are the size and weight of the mid 90s 5 series and then some. I can't stand them.

    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.
  • blueguydotcomblueguydotcom Member Posts: 6,249
    Doubtful they'll make an M version of the 1 series as BMW's doing the whole PR-junk by claiming the 135 has M components - you know parts stamped with the BMW M logo.

    I don't think they were looking for fast as they were in a 328i - a car that's not even close to fast.
  • plektoplekto Member Posts: 3,738
    The 135i will have M series components and a *300* HP turbo I-6 engine. With a 5-600 lb lighter vehicle, this is going to be a rocket compared to a 3 series.
  • blueguydotcomblueguydotcom Member Posts: 6,249
    The 135i will be at most 200 lbs lighter than the 335i. I was commenting that at 2600 lbs the Cooper is significantly lighter than the 3 and 1 (1000 lbs for one and really about 800 lbs for the other). That's a gap of major proportions.
  • gobebegobebe Member Posts: 2
    Hi,
    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?
  • futures10futures10 Member Posts: 2
    My experience with Assael was generally pleasant. MA Nick seemed to know what he is doing. I was offered MSRP and yet to decide to go with 07 or 08 model. What kind of deal do you get?
  • gobebegobebe Member Posts: 2
    Their out the door quote for the following specs in addition to free black floor mats:
    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
  • qbrozenqbrozen Member Posts: 32,934
    Wow! I had no idea it was possible to build a $30k mini! At least, not without the JCW package, anyway.

    '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

  • jaxs1jaxs1 Member Posts: 2,697
    That car still isn't fully loaded factory options either, then there are more dealer accessories and the convertible model for more money.
    It's probably possible to get close to $40K for a Cooper S convertible with everything including tax and license.
  • gpowergpower Member Posts: 3
    Hi Guys,

    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:
  • blueguydotcomblueguydotcom Member Posts: 6,249
    $0 down on a lease. Or as close to it as possible.
  • british_roverbritish_rover Member Posts: 8,502
    It all depends on what the buy rate money factor is for the lease on a MINI Cooper. If the buy rate is .00335 then that is the best you can do no matter what your credit is.

    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.
  • jaxs1jaxs1 Member Posts: 2,697
    You can check lease rates going through several independant leasing companies and if you can get much lower rates outside, they are probably lying about the buy rate.
  • british_roverbritish_rover Member Posts: 8,502
    Or it could just be a different buy rate.
  • jaxs1jaxs1 Member Posts: 2,697
    You can check lease rates going through an independent leasing company and if you can get a much lower rate outside, they are probably lying about the buy rate.
  • futures10futures10 Member Posts: 2
    That sounds normal, I would just asking for a 5% discount from the quote. It doesn't hurt to ask for being on the last day of the month...
  • gpowergpower Member Posts: 3
    I am getting better rates with LeaseCompare.com

    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
  • blueguydotcomblueguydotcom Member Posts: 6,249
    My experience with socal dealers: they know the car is hot and therefore try to get the full markup on leases.

    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.
  • blueguydotcomblueguydotcom Member Posts: 6,249
    I just ran this on leasecompare -

    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.
  • plektoplekto Member Posts: 3,738
    I went to LongBeach MINI for a new MINI 2007, premium package and automatic transmission.
    ****

    My soul dies a little when I hear Mini and "automatic" in the same sentence...
  • blueguydotcomblueguydotcom Member Posts: 6,249
    lol

    It seems a little wrong, like seeing your grandma steal candy from a little kid.
  • minicoopersminicoopers Member Posts: 26
    .......and my soul dies a little when I see "turbo charger" and MINI in the same sentence along with "non-functional hood scoop". This car is fun and I won't part with it but it pushed the envelope at $23k out-the-door in 2003 so therefore there is NO WAY they will build one worth $30-40k. Get real people! The manufacturer laughs all the way to the bank just like GM and Ford every time they sell a pickup or SUV! Maximum profit margin!
  • blueguydotcomblueguydotcom Member Posts: 6,249
    I don't get what's wrong with a turbo. Shrug. It's worth what people will pay for it. My father has a classic car that's been appraised at over 60k. I wouldn't give him $5000 for it but to some people it's worth considerably more.
  • frog169frog169 Member Posts: 11
    i have a question, I was looking at cars like chargers/stis/evos etc. then the mini poped up and cought my attention for price and what id get for it. i did the whole build ur own came out to be around 31,000. so my main question is im not very good with financial #'s and what not but if i put down about 10,000. and my credit score is a 607 but ill have a cosigner of 780. how much you think my paymnts/rates would be? is it worth putting that much down? some say dont put down more then like 5k some say otherwise.
  • wayzzzwayzzz Member Posts: 1
    Hi there,
    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 :)
  • blueguydotcomblueguydotcom Member Posts: 6,249
    Leasecompare works fine. Seems like your 2200 is buying down the lease payment some.
  • tankgirl136tankgirl136 Member Posts: 1
    I know this is a little older but I had to say something about MINI of Universal City, first even if they offered to give me a MINI for $5 I would run away!!!

    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*
  • pjo1966pjo1966 Member Posts: 157
    I can't say that I'm surprised by what Mini of Universal did, although I am surprised that Nick Alexander treated you well. I've been there twice and both times were awful experiences. As for Universal, I couldn't believe the markup above MSRP on their cars. They say they'll negotiate, but you're already fighting a losing battle. I met with a salesman at South Bay BMW while with a friend who was shopping. That's where I'll be going to get my Mini, despite the fact that I live just a few short miles from Universal.
  • esgamesgam Member Posts: 29
    The current BUY RATE (money factor) this month with BMW Financial is 280 (.00280) on Mini's. If you have top notch credit (I believe over 700?) you should be able to qualify for this rate. The dealer may try to add on a $400 security deposit to this rate that you get back at the end of your lease. This may or may not be normal.

    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.
  • chojnackrj24chojnackrj24 Member Posts: 3
    Never pay a secutity deposit on the vehicle. A lot of dealerships use this as a scam. Stay away from the deposit.
  • kyfdxkyfdx Moderator Posts: 236,789
    If you lease a MINI, you'll pay a higher money factor without the security deposit, unless you are a returning customer.

    In this case, making a security deposit is to your advantage.

    regards,
    kyfdx
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  • 71mini71mini Member Posts: 4
    I wish I found the forum earlier when I was buying a new MINI.
    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 :o)
    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. :o(
    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.
  • upstatedocupstatedoc Member Posts: 710
    Has anyone had an experience @ Keeler Mini in Albany NY? Mini dealers in these parts are scarce.
  • alexwalex1alexwalex1 Member Posts: 33
    We took a delivery of 07 Yellow Mellow Cooper just 2 weeks ago in CT. We have onyl two dealers in state and luckily we live 10 miles from one. My wife drove it and loved it and we ended up ordering our yellow mini with checkers on the mirrors and roof from factory, optioned exactly as we liked (premium, cold, sports packages). Took 5 weeks to get. They were not discounting it at all, but threw in rubber mats and we pursuaded them to forgo their mandatory VIN etching, paint sealant, etc. While overall it seems to be a trend that they would not discount the car off MSRP, it seems that our salesperson as well as their business manager were a bit indifferent as to whether we would buy a car or not. No pressure is good, but a sort of no enthusiasm on their part either - if I knew nothing about the Mini, I would probably walk away to buy something else. Anyway - 500 miles down the road now and mife wife still loves it and I drove it too for a few days and it has a personality that beats its relative lack of power (if this car was not for my wife, I would have gotten Cooper S). SO far only 33 mpg with 70% highway driving, but I hope it does get better.
  • esgamesgam Member Posts: 29
    I got an email from my MF saying that my car is ready for pickup in So Cal. I have a dilemma in that I'm stuck in Northern California for work until the 3rd. My MA is telling me that I have to sign the contracts by the end of the month. I could do that via faxing, etc., but I really think I should see the car before I sign for it.

    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???
  • Karen_SKaren_S Member Posts: 5,092
    A reporter with a large finance magazine is hoping to talk to consumers who just purchased or looking to purchase a more fuel-efficient car for their daily commute. Please reply to ctalati@edmunds.com no later than Monday, October 8, 2007 with your daytime contact info.
  • jondc212jondc212 Member Posts: 15
    how much should i be spending on an ASTRO BLACK mini copper type S 2 door, not convertible.

    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
  • dwynnedwynne Member Posts: 4,018
    Most MINI dealers offer nothing off of MSRP and then charge you a dealer "doc" fee on top of that. I have seen some have specials with $500 off MSRP + add the fee back.

    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
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