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Prices Paid: Buying & Leasing Experiences MINI Cooper Prices Paid and Buying Experience
1058 messages, Last post on Jul 06, 2008 at 6:47 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: gopguyca (Apr 11, 2005 10:31 am) Just trying to get some feedback. My husband and I are just starting our Mini search. We are looking to get an 07 just basic with a few perks. My husband is looking for a fun car that has great gas mileage. I have been seeing that the Mini's really never sell below invoice, I was wondering if that is true for those paying cash as well? We aren't rich, just decided to take a second mortage out for the car and some other stuff. Also our local mini dealer is on Ebay, anyone ever do this? We are in Baltimore, MD and would use Towson Mini/BMW. Thanks!
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Replying to: holt07 (Jun 29, 2007 6:29 am) |
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Replying to: holt07 (Jun 29, 2007 6:29 am) |
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Replying to: imgdoc (Jun 29, 2007 4:20 am) That stated, I agree with blueguy... the MINI is a car you want to buy, rather than lease.. regards, kyfdx
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Replying to: kyfdx (Jun 29, 2007 8:45 am) Do you advice using MINI select program or regular financing?
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Replying to: imgdoc (Jun 29, 2007 1:55 pm)
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Replying to: blueguydotcom (Jun 29, 2007 2:00 pm) Finance for 60 months at the lowest rate you can find.. You may pay out a little more over the next 24 or 36 months, but you'll be ahead, once you sell the car... Generally, I'm a fan of leasing... but, it has to make good financial sense.. in this case, I vote against it. |
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2007 MCS Lease Pricing: MSRP $25,500 Out-of-Pocket including first month payment: $2500 Payment: $291/35 months/36K miles/69% residual Total paid in 3 years (less $300 deposit) = $12,385 Residual after 3 years = $17,595 Is that worse than financing if you buy and sell the car at lease end? Really? I had a 2004 MC with Residual (62%) $13,200. Total paid in 3 years was $11,745. Bought at lease end and sold for $16,800 within 10 days. Cost of leasing for 3 years came out to be $8145. |
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New to leasing and kind of baffled by it. Not sure if I am getting a decent deal here. If anyone can comment, I'd appreciate your input. Here are the terms... '07 Mini Cooper S Auto Trans. Sport Pkg. (w/ web spoke wheels & perf. tires) Premium Pkg. Chrome mirrors, center arm rest, rear fog lamps, piano black dashbord MSRP - $27,590 Selling price- $27,000 (JCW matts thrown in) 3 yr. lease/ 36K miles $2500 total down... payment $345/mo. I'm bothered by the fact that they will not disclose the "money factor" (I have excellent credit....score 841 !!) Not sure how to translate it into an interest rate even if they divulged it to me. Am I getting hosed here?
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Replying to: backstep222 (Jul 08, 2007 8:32 am) EDIT: Can't find a law but I'd tell them you'll sign when they reveal the source of their numbers. There's zero reason for them to hide those numbers. At the very least you can use leaseguide, your purchase price, payments, down payment and residual to figure the money factor. |
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