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Prices Paid: Buying & Leasing Experiences MINI Cooper Prices Paid and Buying Experience
1107 messages, Last post on Oct 07, 2008 at 10:22 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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When things are too good to be true at the dealership, I have to wonder if the MINI I bought last weekend will fall apart a la a Bugs Bunny cartoon and I'll be left on a seat holding a wheel as I plung over a cliff somewhere. Walked into the dealership and bought a loaded black 05 mini s in the DC area off the lot - paid MSRP ($27460) and got a hell of a deal on financing I wasn't expecting through BMW (had my own financing pre-arranged). The car did have an alarm I didn't want that the dealer installed, but not a deal breaker for me. It had all the packages + the LSD + the chrome lining inside + out + the chrono package. The whole transaction took less than 2 hours. Beautiful car, a ton of fun to drive so far! |
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I am wondering how I can find out what the money factor was used for March 2005 on the Mini Cooper S Convertible. I made an agreement the end of March 2005 for a Mini Cooper S Convertible and I thought the rate was 5.3% (as I recall, BMW Financial was having this incentive). I am currently negotiating a lease for a 2005 BMW X3 and pulled out my Mini lease which seemed quite high. I actually picked up my Mini on April 6, and when I emailed the Mini rep yesterday to question the high lease payments, they gave me a money factor of 0.0028 which I believe comes out to be more than 5.3% (0.0028X2400). I was quoted $500 under MSRP, which came out to $31,020, but realized (thanks to this board in hindsight), that they took $500 off the $550 destination charge. I did add the Ipod auxiliary jack for $170 at the last minute which they said brought the price to $31335 + $625 bank fee.The security deposit was waved and I paid registration, doc & tire fees + first month of $518.00 including tax on pick up. I assumed the bank fee was rolled into the adjusted cap, but I guess it was not. Would it make much of a difference if the money factor was less? Thanks for your help. I am a bit confused.
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| The $518.00 was the monthly payment minus the doc, registration, tire fee. | |
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Replying to: anjor (Sep 08, 2005 9:51 pm) Equates to a little over 6% APR, either way.. If you didn't pay the $625 acquisition fee upfront, then it was definitely rolled into the cap cost... It has to be paid, one way or the other.. Considering a $30K car, purchased at MSRP, with a market-rate money factor, your payment doesn't look out of line... though, you don't mention term or mileage.. regards, kyfdx |
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The term is 36/12,000. Why does waiving the security deposit increase the money factor at all? They did not do that with the X3. Anyway, it you think the lease looks in line, then I am OK with it. Thanks, again for your help. I could not find the information anywhere in my search.
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Replying to: anjor (Sep 09, 2005 9:11 am) Either way, it is pretty hard to go back 6 months later, and re-visit a contract... So, how do you like the MINI S convertible? They look like a lot of fun, except for maybe some visibility issues.. regards, kyfdx
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Replying to: kyfdx (Sep 09, 2005 9:24 am) I absolutely LOVE the MCS Convertible. I test drove a manual S and an automatic that was not an S. There was a big difference with the S. I opted for the automatic (that's what was in stock, anyway). Never thought I would love it this much! It is really peppy, takes turns beautifully, and is a handsome looking car (I have the dark silver, black top). People stop me all the time, complimenting the car and wanting to know all about it. There is a comraderie on the road amongst Mini drivers and there is this bond (the "Mini Wave") when you pass one, that is very cool! Trunk space is plentiful and back seat legroom is surprisingly ample. Extremely FUN to drive! On the down side.... The blind spot with the top up is the biggest drawback. It is pretty bad. Also, driving at night is a bit tough. Would like to see Mini add lighted mirrors, as well. My top broke after two months and there was a problem with fading. Mini replaced it, of course. Guess this is first year kinks. The new top creaks when going up, perhaps too tight. Car rattled badly when sunroof was open, but Mini adjusted this and is better now. I really like the sunroof option vs. full top down. There are still some rattles with the windows at high speed, but Mini acknowledges these things and are quick to resolve any issues. I get the feeling that the service centers are also in learning mode. The flat run tires seem sensitive,but that could be due to a number of things. Given the intro of this car, it seems as if they have gotten it right. Being a BMW lover, you can tell that it is a BMW built car and the value for what you get can't be beat compared to other cars in its class. HIGHLY recommend this car and I will always be a MINI driver. If you don't have one..get one! You won't be disappointed!!
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Hi all! I'm in the process of moving to LA and I keep hearing horror stories of long waits and $1000s over MSRP in So Cal for a mini cooper convertible. Las Vegas said they would order my car and charge me a little over MSRP and I'd have it in five weeks. I'm not in LA yet, so I was just wondering what people's experiances have been. Thank you so much for sharing. Cheers, Beth |
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Hello, all. The Lease Questions forum didn't turn-up any current MFs for me. Anyone herein care to share? 
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Replying to: ninasimone (Sep 14, 2005 11:23 am) regards, kyfdx |
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