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MINI Cooper Lease Questions
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BMW allows consumers to lock in a lease program on a vehicle that they are ordering, so I don't see why one wouldn't be able to do so on a Mini. Having said this, I doubt that one can order a 2009 Cooper any more. Any order would have to be on a 2010 model, which doesn't have any lease support on it yet.
The standard lease program on the 2010 version of this car isn't that bad though. The numbers for an otherwise identical lease on a '10 model would be .00250 and 61% (36 mo., 12k).
Car_man
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As far as a down payment on your lease goes, I always advise consumers not to put money down when leasing. Lessees who make down payments on their vehicles risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. You can and should go with a zero down lease. Even though it means that your monthly payment will be a little higher, it will be much safer.
Car_man
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Car_man
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Unfortunately, you definitely will not be able to lease a Cooper convertible for $240 per month. You certainly will save money by going with a used car, but you will not be able to lease a used one. You would have to finance it instead. Plus, used Minis actually tend to hold their value fairly well.
Car_man
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Car_man
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Btw do you have access to new prices/packages/options for 2010? and When cars will be in show rooms?
Question: What is the base residual and MF for a 2010 Cooper S at 10K miles/yer?
Also, are there any options that would boost that residual (for example quattro audi A4s have higher residual %s than non quattros)? I.E. what is the ideal optioned 2010 Cooper S for lease purposes?
Is the MF ever affected by the options on the car?
THANKS IN ADVANCE
Major trim lines... such as base, "S", convertible, Clubman have different programs, but if you are getting a MINI Coupe "S" model, the residuals and money factor only vary by term and mileage allowance.
(You'll have to wait for Car_man for the actual MF/residual numbers)
regards,
kyfdx
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Unless the car has more options/packages than you mentioned that are raising the MSRP? We'd need to know the exact car but for just a base Mini hardtop with just auto transmission its a bad deal.
MSRP is $23,800.
Residual is .62.
15,000 miles / year
Acquisition fee of $900
Gov't fees and taxes of $1572
$400 security deposit
Offer: $389.69/month, $1200 down (includes 1st month payment).
What do you think I should be paying? Thank you so much for helping a first-time leasee!
http://www.leaseguide.com/calc.htm
If you read above you should be able to find out the money factor (interest rate) on the lease you want. Then you'll have all the info you need to see what your payment should be. You can also check the invoice price of a mini with the options you want, and see how much the lease would be if they sold it to you AT INVOICE. Then I'd use invoice plus maybe $500 as a starting point for negotiating and possibly work your way up to $1000 above invoice as the end number. Remember taxes are added on a per-month basis with a lease.
Car_man, any chance for the residual and money factor for a 2009/2010 Cooper Hardtop for 12 and 15k miles/yr? Pleeeeeeeease
We have decided to step up to Cooper S 2010 to be ordered for End of December. Could u please verify that lease rates fir 2010 S are same as you quoted or diff? Possibly October rates will apply.
Car_man
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The numbers for an otherwise identical lease of a 2010 model are .00225 and 61%.
If you were to lease either of these cars with only 12,000 miles per year, their residual values would be 2% higher.
Car_man
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As Kyfdx mentioned, the addition of options has no impact upon this car's residual values (other than John Cooper Works).
Car_man
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As far as how attractive this deal is, I would be happy to give you my opinion on it...however it would be much easier for me to do so if you would provide us with this car's full MSRP and approximate selling price first.
Car_man
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Car_man
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Car_man
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Anyhow, here's the information that you're looking for. Mini's October buy rate lease money factor and residual value for a 36 month lease of a base 2010 Cooper Clubman with 15,000 miles per year are .00225 and 61%, respectively. The numbers for an otherwise identical lease of a 2009 model are .00210 and 61%.
Car_man
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To criticald you replied: .00225 and 61%, respectively.
To zoran you replied: .00205 and 63%, respectively
What are the latest numbers?
Thanks for your help!
Minis actually lease fairly well, they have reasonable money factors and very strong residual values. I would be happy to work up a sample lease payment on the exact car that you are interested in for you if you provide me with its full MSRP and approximate selling price, or at least its MSRP and invoice price. You can find this pricing data over in the New Vehicle Pricing section of this site.
Car_man
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:shades:
Car_man
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Can you give me a sample lease paymentof that s clubman
msrp $25,350 invoice $22,880
Also what are fees that i should expect to pay so that they wont give me any fake fees and try to rip me off?
Am I getting a good deal? Why the disconnect in pricing? The website has the MSRP at 22,500. The car at the dealership was 23,500. It doesnt sound like I am getting a good deal here.
Let's work up a sample lease payment on the car that you're interested in and see what we come up with. For now I will assume a selling price of $1,000 over invoice. According to my calculations, if you were to lease a 2010 Mini Cooper Clubman S that has an MSRP of $25,350 and a selling price of $23,880 through its captive finance company right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $325.
Car_man
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Car_man
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Does anyone know the Mini lease terms for December? Base Mini HB manual transmission... what are the money factor, residual, and any additional (i.e. acquisition) fees? In CA if it matters. Thanks!
Edit: for 12K and 15K per year.
If you were to lease this car with only 12,000 miles per year, its residual value would be 2% higher.
Car_man
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D.C. resident here. I am seriously considering a Mini Cooper Hardtop (no S) as my commuter car, in no small part due to its excellent mpg (why not have something fun to drive on the slog to work every morning?). Based on my experience over the last 2+ years with my current commuter car, I should rack up no more than 7k miles/yr in the Mini, and likely closer to between 5k and 6k.
So here are my questions.
(1) Does Mini do 10k leases? If I'm not mistaken, all of the posts here seem to mention 12 and 15k leases. And I have never leased, so I dont know if 10k leases even exist. Of course, if 10k leases exist for Minis, could you give me the numbers (money factor, residual)? I suppose a related question if 10k leases dont generally exist is whether I can negotiate different money factors/residuals if I agree to a 10k lease, i.e., can I negotiate a customized lease?
(2) For someone like me who knows they will be driving low miles, does that tilt the buy/lease balance towards buying or leasing, or does it not matter?
I'm wondering if you could take a look at a deal for me please - I'm looking at a 2010 Mini Cooper Clubman (not an "S"), manual transmission:
MSRP: 20,450
Cold Weather: 500
Dual pane sunroof: 1000
Destination: 700
Sticker: 22650
The dealer is using a 36-month term, money factor of 0.023, 64% residual, 6% state sales tax, 12,000 miles/year. There is $735 due at signing (includes 1st pmt, tax, title, doc fee. security deposit and acquisition fee waived). Payment is 336.71/mo with tax.
The dealer is initially saying that they won't negotiate from sticker - is this true of new Minis, or can I negotiate? Edmunds lists Invoice for this car at $20,455.
Thanks a lot!
Thanks much!
Joseph
I have included three options:
PURCHASE:
BMW FS - 60 Months
CT 6% Sales Tax
APR 1.9
Total Sale Price: $34,786.24
Down Payment: $2000
Monthly Payment: $573.24
****************************
LEASE:
36 Months
15K/Year
CT 6% Sales Tax
$505.56 including 6% sales tax.
Due at Signing: $2,235,34 (1st, security, dmv fees..etc)
****************************
Balloon Payment:
Term: 36 months
CT 6% Sales Tax
APR: 2.9%
Total Sale Price: $34,786.24
Total Down: $2,000
Monthly: $447.85
Balloon: $18,939.00
CONFIGURATION:
-Leather Punch Carbon Black
-Cold Weather
-Sport Package
-Sport Suspension
-Limited Slip Differential
-Anti-theft alarm
-Comfort Access
-Roof Rails
-Center Armrest
-Park Distance Control
-Automatic Climate Control
-Rear Fod Lamp
Additions w/ Install: $1,079.00
-S Rubber Front & Rear Mat
-JCW Drilled Rotors
-JCW Strut Tower Brace
-Mini Magnetic Stone Guards
-Venture Shield Protective Film (recommended better company than invisishield)
INCLUDED IN PACKAGE/NO CHARGE:
-Brushed Alloy Interior
-17" Crown Spoke
-Power Folding Mirrors
-Heated Mirrors & Washer Jets
-Heated Front Seats
-Xeon Headlights
-All Seasons
There are still some 09 Coopers available in the DC metro area. Would the fact that a car is an 09 rather than a 2010 impact (e.g., lower) the residual at all? The dealer mentioned a residual that seemed too low, given the residuals I've been seeing lately in this forum, and before I go in with guns blazing, I wanted to make sure I had all of the right information.
Thanks!
Could you work up a sample lease payment for a 36 month lease, 10k miles/yr for a Washington DC resident for a 2009 (not 2010) Cooper HT (not an S) with a list price of 26,900, a negotiated price of 24,457, and an invoice price of somewhere between 24,200 and 24,400?
Thanks!
Here is a direct quotation from an area dealer: ran the $25500 Cambden at 36months, $498. 42 months, $477. 48 months, $455. All with current rates, 10k mile lease setups for a DC resident.
Are these the horse poop they appear to be? This is for a 2010 Mini HT (not an S). The dealers numbers are under the assumption that I am putting zero money down, which I have learned from this forum is what I should be shooting for.
Thanks for your help.
Can you provide the current money factor and residual rates for a 2010 Mini HT and S?
Thank you