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MINI Cooper Lease Questions
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Comments
The money factor for this calculation is 0.00165, which is on the higher end of the spectrum. The manager insist he cannot get better than this. But with the high money factor, I am not sure if I am getting a good deal.
What is your take on this? Do you think it is a good deal?
I would really appreciate your help after receiving conflicting info from several dealers.
For top tier credit - what is the best I can hope for on a 15k lease? Or, is buying at 0.9% a worse or better idea knowing I will definitely sell/trade in 3 years? Thanks for your help!
The JCW models have terrible residuals... they don't lease out very well..
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Thanks,
Mike
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After jumping back and forth on many vehicle options, we finally settled on Mini Clubman (base). There's a national deal running on 2013 models till 9/30 but it doesn't have all the options I'm looking for. I did get the residual information (64%) by using MSRP and residual value listed in the disclaimer. I'm assuming I can negotiate MF down to 0.00125.
Can you confirm the Residual and MF for 2013 clubman base on a 3yr 10k miles/yr lease?
I'd also like to find out same for 2014 model as I'm having tough time finding right combination in remaining 2013 stocks in my area (NJ).
Lastly, is there an incentive running on either 2013 or 2014 models now? I'm not seeing much discount for 2013 models.
Thanks!
.00127 and 61% residual for the 2014...
I don't have incentive information.... but, it seems the incentives are built into that high residual on the 2013 model...
regards,
kyfdx
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.00127 MF and 56% residual..
I don't have the answer on MSDs, but MINI FS is essentially the same as BMWFS, so I would guess that they are available.. (I'm wrong a lot, though.lol)
regards,
kyfdx
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.00127 and 58%
I assumed 10K/yr, because the residual matches... Not sure how a MINI dealer could mark up your MF to .0021, unless you have less than top tier credit.. or, they quoted you the MF for the JCW model..
regards,
kyfdx
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But, they can mark up the MF by .0004, add .00015 for waiving the security deposit, and then .00035, if you asked them to waive the acquisition fee.. All of that would get you to .00217...
But, go ahead.. pay the acquisition fee, make the security deposit, and the most they can hit you with is .00167, which is still marked up... I'd insist on the .00127 and ask them what it takes to make it happen.. At least then, you are working with apples to apples..
regards,
kyfdx
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thanks kyfdx
Can you tell me what the October 2013 Money Factor and Residual are for both cars both years?
36 months - 15k miles
2013 - MINI Hardtop S
2014 - MINI Hardtop S
2013 - MINI Clubman S
2014 - MINI Clubman S
Going to Motor-tober event this weekend and want to be ready...
Thank you very much in advance,
Jarvis
:shades:
.00125 MF and 56% residual
2014 - MINI Hardtop S
.00127 MF and 57% residual
2013 - MINI Clubman S
.00125 MF and 59% residual
2014 - MINI Clubman S
.00127 MF and 58% residual
regards,
kyfdx
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I am looking to either lease or finance the countryman all4 s. do you have the lease residual and money factor for 36mos 10k miles?
Also, I may want to do the mini select financing. Do you have the balloon Payment residual and apr?
Has anyone on the forums done a risk/reward analysis on these 2 options? I just feel the residuals are fairly low on mini coopers and think the mini select is the better option if going to flip the car within 3 years.
Thanks.
P.s. how do you get this information? Have access to a dealer or something?
.00127 MF and 58% residual
I'm not all that familiar with Select Financing.. but, it's only available in certain states.. and, the APRs always seem to be pretty high..
regards,
kyfdx
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2014 Countryman S loaded
MSRP 33,000
12k miles per year
$1000 total drive off
36/mos
$545/mo
Sounds high to me but according to the mini dealer, they don't really haggle on prices due to the high demand of a fully loaded countryman. Can anyone please tell me is this is true? I usually buy BMW so MINI is a brand new experience for me.
Just want to share my experience as I recently got a 2014 Countryman and I was somewhat in the same position as you. I started out wanting to lease the countryman. I didn't want to make a big purchase and had been enjoying leasing a car (was leasing a Honda Insight), but I went with the Mini Select Program because I want to retain my equity. Since you would be paying almost 50% of the car in the next 3 years, I figured it would better to acquire as you could get back some of your equity than throwing away in leasing a Mini.
So here is some hard numbers I got during the negotiation process:
2014 Mini Countryman (White) - Purchased in CA
- equipped with sunroof, armrest, and flat load floor
MSRP: 25,645
Final Price: 24,445
CS (Experian): 701
Brought $1000 for deposit
Lease Program - 36 Months, Money factor 0.00167, Residual 57%
$1300 down $388
Mini Select Program (First Offer) - 60 Mos, 6.49% APR, 12,000 Miles
$1000 down $355
$1250 down $350
$1500 down $345
After some negotiating... (final offer) - 60 Mos, 3.99%, 12,000 Miles
$1000 down $359
(added in extended 7yrs/100,000mls warranty)
The MSD program lowers the money factor by .00007 for each MSD, up to 7 additional deposits, for a total reduction of .00049... that would lower the .00127 MF to .00078.
Dealers can mark-up the money factor for extra profit, and many of them do.. the maximum mark-up is .0004
Sorry that I don't have the updated numbers..
regards,
kyfdx
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This will be my first time leasing a car and I've been doing a lot of research and trying to follow this forum to figure out the best deal.
Here are the numbers I got from a dealer in CA:
Mini Cooper Convertible '14
MSRP: $29,341
10k/36 months
$3000 down payment
Monthly payment: $437
Does anyone have the Nov MF and RV?
Any advice would be appreciate...
Also, their bank fee is $925!!! I've never seen a fee that high. That's on top of $575 in DMV and document fees. Is this # negotiable??
The money factor is the same... regardless of mileage allowance... The only thing that changes is the residual... It's great you got them to drop the mark-up to the money factor, though.. How much did that lower the payment?
I'm not familiar with 5000 mile leases, but a 2% increase over the residual of the 10K/yr lease sounds about right.
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Should I try and get the $200 taken off the acquisition fee?
Also, there was no mention of the $750 dest fee nor the $750 You-if-ication credit they are offering for their base 2014 S Convertible lease special online. Should I ingnore these? The rate I was quoted was $399/mo.
Try for everything you can get..... they dropped the money factor bump, pretty quickly..
The destination fee should already be calculated into the deal.. .it's part of the MSRP and should be part of any negotiated price.. Any attempt to add that later is just bad faith bargaining..
I'm not familiar with the $750 credit, but you should definitely bring it up... If they say it's already included in their deal, give them your best incredulous look and say, "You mean you are only giving me $250 off the MSRP??!!"
If you are willing to take the deal on the table, then asking for more can't hurt... you can only win...
regards,
kyfdx
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Understand November residual and MF for 36m/10kpa 57.5% and 0.00127 respectively.
Would appreciate someone confirming.
Further, we are being told that $725 lease acquisition fee can be waived against corresponding increase in MF of 0.00035.
Looks like a no brainer at approx. USD19/month.
For reference, we are being offered USD1500 discount over MSRP35k plus USD750 you-ification credit.
Do not think we can push dealer much more, however want to ensure MF and residual correct.
Many thanks for help.
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It really pays off on shorter term leases..
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1) Is RV calculated from MSRP or net cap cost?
2) Is depreciation calculated from MSRP - RV or Cap Cost-RV?
CAP Cost - Residual = Depreciation
regards,
kyfdx
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Hi kyfdx,
Can you tell me the December Money Factor and Residual for:
2013 Mini Hardtop S
15k / 36mo
Thanks,
Jarvis
2013 MINI Cooper S Hardtop Coupe 36mo, 15K/yr lease
.00120 MF and 55% residual
$1000 lease cash, and no security deposit required.
regards,
kyfdx
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Could somebody please tell me what the current Money Factor and Residual Percentage is for 36 month, 12,000 mile/year lease on a 2013 Mini Cooper S?
My understanding is the acquisition fee is $795, but can be marked up to $995 by the dealer, or it may also be waived for an increase in the Money Factor. The Residual Percentage is applied against the MSRP of the vehicle, while the Cap Cost is based on the negotiated price. If I have any misconceptions here, I would welcome some clarification. Thanks in advance.
.00125 MF and 58% residual. There is also $1000 of lease cash on this model.
All of your assumptions are correct, except I think the acquisition fee numbers are $725 and $925. Also, there is no security deposit required on this model, this month.
kyfdx
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Hi Car_man, could you please let us know the December MF and residual % for the MINI Countryman All4 '14 36 months, 12K and 15K mi/year (if possible). Happy holidays and thanks in advance!
Hello,
Can you please let me know the December MF and residual % for the '14 Mini Paceman 36 mo, 12k and 15k? Thank yoU!!
.00125 MF and 57% residual for 36mo, 15K/yr lease
Add 2% for 12K/yr
kyfdx
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.00125 MF and 55% for 36mo, 15K/yr lease
Add 2% for 12K/yr
kyfdx
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1st time poster here. This looks like a great forum for lease information.
I'm looking for the MF and Residual % for the 2014 Mini Countryman S for a 36 month, 10k miles/yr lease.
Thanks in advance!
Hi there kyfdx; hoping you can share the current Residual % and Money Factor for three different 2014 models: Cooper S Coupe, Cooper S Roadster and Cooper S Hardtop. Looking for 36 months at 12k miles/yr in all cases.
Additionally, curious what the residual value impact would be if I went with 10k miles vs. the 12k.
Any insight you can provide will be greatly appreciated- thanks!
2014 S Coupe: .00127 MF and 58% residual
2014 S Roadster: .00123 MF and 57% residual
I don't have any numbers for the 2014 Hardtop, which leads me to believe it isn't in dealers, this month...
2013 S Hardtop: .00127 MF and 57%, with $1000 lease cash
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Hi KYFDX! Can you tell me what the lease terms should be (MF, Residual, acquistion fee, security deposit)? 2014 Countryman S All4. MSRP is $33045. Dealer says Sale Price (either lease or buy) is $30,545 ($2500 off MSRP). lease is 36 months, 15k miles per year. He's asking for $3k down and $359/month. Using my formulas, numbers don't add up. I have 800+ credit score. In New Jersey if that matters.
Thanks!
.00120 MF and 56% residual.
I show $1000 of lease cash, $1000 Youification credit and $500 lease loyalty (if you qualify)... so, with $2000 of incentives from MINI, $2500 off isn't amazing.. That said, I haven't shopped for a MINI in about 5 years.. I'm not sure what the acquisition fee is.. but it's $725 for BMW, so that's a good guess for MINI, as well..
Your $3000 down? Is that the total due at signing? Or, is it $3000 downpayment + 1st payment + security deposit + acquisition fee? Taxes included, or not? Security deposit is always the payment amount rounded up to the next $50 increment ($400 in this case).
If you just take the selling price, and deduct the $3000 down, the payment would be about $307/mo, pre-tax... Add in $725 acquisition fee and around $1100 in taxes, plus $400 for NJ registration.. Then, you are up to about $370/mo..
So.. their numbers look pretty spot on, to me... if it includes tax.
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