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Prices Paid: Buying & Leasing Experiences MINI Cooper Lease Questions
155 messages, Last post on Jul 01, 2008 at 4:27 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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I got an email from my MF saying that my car is ready for pickup in So Cal. I have a dilemma in that I'm stuck in Northern California for work until the 3rd. My MA is telling me that I have to sign the contracts by the end of the month. I could do that via faxing, etc., but I really think I should see the car before I sign for it. Additionally, I'd love your input, do you guys think that there will be much of a change in interest rates for October, since it is the first time the 1/2 point cut will affect BMW Financial or other Lenders? If it will, then waiting until the 1st to pick it up would be worth it. What can/should I do??? |
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I feel very conflicted about my desire to purchase a 2008 Cooper S Convertible. I have done two test drives, love the car but cannot get over the lack of support from the manufacturer. Moreover, as reported by other folks, the salesperson seemed very indifferent about the entire sale. He said: no deduction off of MSRP (only Mini dealer for 300 mile radius), standard money factor w/tax 448 per mo X 36  15K per year. I know this is not apples to apples, but we are in Acura territory here. It just seems like a lot of money when I was quoted $319 on a G6 w/GMS. Do any of my fellow Mini dreamers have advice? 
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Replying to: ke72spn (Oct 03, 2007 10:32 am) 2. You can't really compare a mini to a G6. That's an apples to pork chop comparison. If you're not sure, don't buy a car. Don't buy a car for price and never buy a car you're not totally into. AFAIK, the 2008 Cooper Convertible is still the old body style. I believe the 2009s will be R56s. Maybe some can confirm this? If it's supercharged, it's an old style. Turbo = new Mini.
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Replying to: blueguydotcom (Oct 03, 2007 11:59 pm) |
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I was just wondering if the residuals and money factors on 2007s have changed at all. Specifically I'm looking to lease a convertible for 24, 30, or 36 months with 12,000 miles/year. I'm considering both the S and base models. I'm probably going to be leasing within the next few days, so any info would be most appreciated.
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Replying to: pjo1966 (Oct 12, 2007 3:56 pm) I think I posted this here before, but it not, you really should look at a 3rd party lease on a MINI. They sell so well that the MF on a MINI captive lease is sky high. They do have a higher residual than a 3rd party lease bank would have, but the super high rate negates the higher residual. On any term probably above 24 months and maybe even then, a 3rd party lease will net you a lower payment. MINI also charges a high bank fee and does charge an end of lease turn in fee (sort of rare for a captive lease) - this puts these fees more in line with a 3rd party bank fees. I would not be surprised if most/all MINI dealers did not mark up the money factor and even the bank fee as well. You can check www.leasecompare.com for a rate and payment online (no obligation or app to fill out), check with any other lease broker, or ask your MINI dealer if they do 3rd party leases - they may not. If you go through a lease broker they buy the car at your price and lease it to you. I have done this a couple of times and it saved me a lot of money - when the dealer and/or captive lease bank offered crummy deals. I was able to get out of paying a high doc fee in one case - since it was a wholesale transaction (leasecompare overnighted or wired them the money) and did all the title, tag, and other work the dealer could not justify any "doc" fee. The dealer just took the money, sent the title to leasecompare (at leasecompare's expense), and handed me the keys - that is all they did. Dennis
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Replying to: dwynne (Oct 12, 2007 4:25 pm)
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Replying to: pjo1966 (Oct 12, 2007 4:31 pm) |
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| Hi, with the current lease offer, do we also get the famous 3 years bmw's free maintenance service? | |
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Hi In May, I leased a 2007 Mini Cooper (MSRP 25,200) for 169/month for 1 year with $2350 down. (Awesome deal) My residual value which I can buy the car for is $21,000. My question is, should I buy it or buy a 2008 with fewer options (this one has more options than I actually care about). The new one I priced out with the only options I want would be 2008 at around 21,500 or so. So I'd have a 1 year newer car and more lease for around the same price. OR if the dealer might go lower in the price to buy my 2007, should I do that? And does anyone have any experience with this--is it likely that the dealer would reduce the residual to get me to buy this one rather than get a 2008? thanks PS I thought I was supposed to change the oil at 5000 miles, but I called the dealer and they said I'm not due for service yet. I'm just about to hit 5000 miles, what am I supposed to do? I can't find anything in the manual or lease form that gives me specifics.
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