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MINI Cooper Lease Questions
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Car_man
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My dealer quoted me a higher money factor than .00185 (.0023)... is that pretty normal? Or is that something that might be negotiated down if I have top tier credit?
Thank you in advance!
My dealer quoted me a higher money factor than .00185 (~.00211)... is that pretty consistent with what others are seeing? I assume it can be negotiated like anything else.
I would love to know how this compares with the deals others have recently gotten. Information like... Discount off MSRP, Money Factor, and State of Purchase would be fantastic. Maybe we could get a list started from a handful of WONDERFULLY THOUGHTFUL lessees that could reply back with these 3 items.
It would fantastic information to have for us who've yet to buy! If this has already been covered, please accept my apologies.
Thank you in advance!
Thanks!!
Also, is the $500 cash incentive still applicable on the S and convertible?
Much thanks in advance.
Car_man
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Car_man
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Mini's June buy rate lease money factor and residual value for a 36-month lease of a base 2012 Mini Cooper hardtop with 12,000 miles per year are .00150 and 67%, respectively.
The numbers for an otherwise identical lease of a Cooper S hardtop are .00180 and 62%.
The numbers for a similar lease of a base Cooper Convertible are .00175 and 58%.
Car_man
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I have the same questions as "Bronxcheer regarding the new June buy rates and residuals for a hardtop Cooper - but with 10,000 miles. (We may add the moonroof & stripes.) Also, I read that the new 2013's may start to ship in August. If that is the case should we hold off for any potential clearance of the 2012 models in July? (Our dealer says they probably won't much of an inventory then.)
It's difficult to say what the incentives and lease program will be like on 2012 models in August. I personally don't anticipate a fire sale on '12s, but I suppose anything is possible.
Car_man
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Car_man
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I'm Interested in a 2012 Cooper S. Do you know if the $500 You-ification option credit can be combined with the $750 Test Drive Take-down credit (i got a voucher from a test drive event).
Thanks in advance...=)
Is that resonable?
I tried to negotiate the money factor with the dealership, but they said they have no control over it.
Thanks.
Car_man
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Car_man
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Also, the base acquisition fee is only $725.
I would try to get the dealer to eliminate its mark-up on these things if possible. The only other negotiable aspect of this deal is this car's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Make sure to find out how much the dealer is charging you for the Cooper that you want before finalizing your deal.
Car_man
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Car_man
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I am interested in a 2012 Mini Countryman S and the dealer will be buying me out of my current lease. Thank you very much!
Does this make sense? I am under the impression I am getting bumped on the MF and residual, to put addl profit in deal for the dealer.
Otherwise, i am happy w progress of deal.
Thank you in advance.
Steve
2012 Mini Convert with HighGate package, auto transmission, leather seats, with lots of added options such as mini connect, xenon light, premium sound....etc. Total price $34450 nego down to $33588, residual is $19,637, monthly pay 490(with tax and everything), 36 mo, 10,00mile/yr. 0.00145. do you think this is a good deal?
or
I got another one is 2012 Mini Convert S with Highgate package, leather seats, auto trans but has no options. price is 32,000, 2000 down, $411 monthly payment for 36 mo.
I really like the 1st deal, but just want to make sure it is a good one. Please advice. Thank you!
I received an approval for an S with a discount of $1,000. I remitted the order prior to the end of the June promo - with a MF of .00185 and a residual of 59%. The salesman just emailed that that offer was now at .00205 and a residual of 57% - said it was b/c the promo rate for june could not be 'locked in' unless I took delivery during promo.
Does this make sense? I am under the impression I am getting bumped on the MF and residual, to put addl profit in deal for the dealer.
Otherwise, i am happy w progress of deal.
I am in NC if that matters.
The numbers for an otherwise identical lease of a 2012 Cooper Coupe are .00145 and 57%.
Car_man
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Car_man
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I have never leased a car before so i was hoping you take a look at the deal I have at Long Beach Min (CA)
Price
$22,700
Exterior: White Silver Metallic
Engine: I-4 cyl
Interior: Carbon Black
Model Code: 12MA
MSRP: $22,700
Stock Number: CT542050
Transmission: Automatic
VIN: WMWSU3C58CT542050
Featured Equipment
4.103 Axle Ratio
Black Roof And Mirror Caps
Bluetooth & Usb/Ipod Adapter
Center Armrest
Transmission: 6-Speed Steptronic Automatic
Wheels: 15' 5-Star Twin Spoke Alloy
I am coming in with a 2500.00 check. 209 (plus tax) a month on a 36 month lease. 10k miles
It all seems so easy I don't know if there is anything more I should be asking for.
thank you in advance for your help.
MSRP is $23,700 , Saleprice is $23,300, 0 acquisition fee, 0 security deposit, license fees $287, residual is 66%
12,000 miles a year , $500 total drive off , money factor 0.00180, monthly payment is $307.28
Is this a good deal for a Base Mini Hardtop?
Thanks in advance.
Use the following LeaseSmart lease calculator before you lease or finance your next car. Dealers use it, why shouldn't you? http://itunes.apple.com/us/app/leasesmart/id444941213?mt=8 OR http://www.LeaseSmartApp.com
Thank you!!
thanks for your on-going help!
do you have August 2012 rates for current mini cooper convertible (S - and not S) lease?
12k/yr... LA, California dealers...
thank you. i have leased my last 3 cars armed with info from you and i think i did pretty well...
einbayer
Do you happen to know the lease rates for august on a MINI Countryman S? I'm looking into a 3 year with 12K miles/year lease.
Thank you!
I leased a 2012 mini cooper a couple weeks ago. Without thinking, I took the excessive wear and tear policy for an extra 30 bucks a month. Since then I have regretted getting this an have been making requests to have this canceled (i have 60 days)
Since this was financed as part of the lease, they are saying my payment will stay the same but in the end I will owe less.
What I am wondering is if I owe less on my lease, then what will happen near the end of my lease term.
Back in the day during a refi i was told i cannot pay off a lease because that would conclude the lease term and i would have to return the car.
So if i have been paying more this whole time how do i get my money back. Do i have to purchase the car in the end? do they refund my money back at the time -minus expenses.
Never had a lease before so I am not sure how this all ends..
thanks in advance for the help..sorry for being a noob
any rates available for S and non S convertible cooper 2012/2013
with 12k 36 mnths in California? thank you....
thanks for your on-going help!
do you have August 2012 rates for current mini cooper convertible (S - and not S) lease?
12k/yr... LA, California dealers...
thank you. i have leased my last 3 cars armed with info from you and i think i did pretty well...
einbayer
Looking for some help on the August $0 to motor lease deal on the Countryman All4. Here's fine print in case you are unfamiliar:
*** $0 TO MOTOR $379 Per Month for 38-month lease on a 2012 MINI Cooper S Countryman ALL4
38-month closed-end Lease Contract offered to qualified customers by MINI Financial Services through participating dealers. $0 cash due at signing (based on $0 first month payment, $0 down payment, and $0 security deposit). Not all customers will qualify for security deposit waiver. Lease rate and fees based on example of a new 2012 MINI Cooper S Countryman ALL4 with MSRP of $29,040. MSRP includes destination & handling charge. Excludes tax, title and dealer fees. Lessee responsible for insurance, excess wear and tear as defined in the lease contract, and a disposition fee of $350 at lease end. The maximum amount of miles for the duration of the lease is 31,667 miles. Purchase option at lease end is $16,553. May be combined with any eligible credits. Subject to credit approval. Models pictured in advertisements may be shown with metallic paint and/or additional accessories. Offer valid through 08/31/2012. Must be delivered 11/30/2012. Visit your authorized MINI dealer for complete details.
I went into the dealer today, and of course they did not ahve the exact car, but the salesman found one that was close with a sticker of exactly $30k. Having not purchased a Mini before, I was alittle taken aback when he started running numbers rather than the finance guy usually does. Anyway, it was quite convuluted, and I could not tell if he was playing dumb or was himself confused. Here's what he came up with:
MSRP: $30,000
Selling Price: $29,000
Cap Cost: $29,725 (he swears I have to pay the acquisition fee of $725 even though it's not listed in the fine print)
MF: .00135
Residual: 57%
pmt: $395.45 (w/o tax)
All I have to come in with is DMV, doc, associated taxes, and difference between actual pmt and the $379 mini will cover the first month (about $500 total for everything). Seems reasonable, but:
1. Do you think I can do better on the price?
2. Should I have to pay that acquisition fee?
I come up with $375 per month (w/o tax) when the acquisition fee is removed.
Thanks!
Car_man
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Car_man
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Car_man
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The numbers for the '12 Convertible S are .00145 and 57%.
Car_man
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Car_man
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Having said that, this vehicle probably has a spread of around $3,000 between its full MSRP and its dealer invoice price. A discount of $1,000 is nothing to write home about, but I'm not familiar with what the market for this model is like in your area. $2,000 over invoice is enough that it wouldn't hurt to comparison shop if there's another Mini dealer in your area.
Car_man
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I haven't seen any information about the 2013 model, so I doubt that it's available yet.
Car_man
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Curious as to the monthly payment I should expect.
They quoted me 64%, 56%, and 41% for 36, 39, and 42 months for the 2012s.
The 2013s were 58%, 50%, and 44% for 36, 39, and 42 months.
Seems odd that the residuals for the 12s are generally higher. Maybe Mini has opted to inflate them instead of providing lease cash.