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MINI Cooper, MINI Cooper Countryman, Car Leasing, Coupe, Convertible, Hatchback, SUV
#113 of 798 when my 1year lease is up what should I do?
Nov 11, 2007 (9:58 am)
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?
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.
#114 of 798 Re: when my 1year lease is up what should I do? [tica]
Nov 11, 2007 (2:06 pm)
Oil changes occur at:
1. The car's computer informs you it's time to schedule an appointment.
2. 1 year has passed since you last had an oil change.
BMW uses this program and they have for over 8 years - the cars are just fine following it. You can pay for your own oil change but considering the car's a lease...what would be the benefit to you? Follow the manufacturer's suggested maintenance program.
Nov 11, 2007 (8:21 pm)
alright thx, i've never owned a car before so not sure about all the rules!
#116 of 798 Lease options for very low yearly miles?
Dec 21, 2007 (1:26 pm)
I am interested in leasing a MINI for 36 months. However, because most my work is at my home office, and the rest requires out of state travel (via plane) my yearly car mileage averages between 5500 and 6250.
In Europe, they offer many 8000 mi/per year leases as standard, but the lowest I've seen in the US is 10000.
Can I negotiate a lower cost lease at a 7000 or 8000 miles-per-year cap?
Thanks in advance for the feedback.
#117 of 798 what is better for tax deduction--lease or buy?
Dec 31, 2007 (5:30 pm)
I'm a self-employed freelancer and freelanced my mini for one year. It will be up on May 1, so I'm trying to decide what to do. I probably will get a 2008 instead of buying my 2007,but not sure whether it's better to lease or buy?
I can deduct my mileage for travelling to and from work meetings.
But what's the difference between the other costs--gas, lease payment/loan payment, etc.? Does it matter?
#118 of 798 Current leases
Jan 16, 2008 (4:49 pm)
Anyone shed light on their lease cost for a Mini S?
I am looking at a configuration around 25k...
Can that be had on a 15k /yr 24mo lease at under 400/mo with 1,500 out the door? Anyone on a similar lease?
#119 of 798 MF and Residuals on '08 Cooper (non S)
Apr 03, 2008 (6:23 pm)
Anyone know the current numbers for the base Cooper? Looking for 3 years, 15K miles per year.
Dealer quoted me figures that suggest that it was ~68% residual and a money factor of .00250, but I think that might have been 12K miles.
#120 of 798 Re: MF and Residuals on '08 Cooper (non S) [MULAWYER]
Apr 07, 2008 (12:23 pm)
my lease is for 36 months. 2000 out the door 326.00 a month. 07 cooper S.
in souther california, i think i got a good deal. thoughts?
#121 of 798 Re: MF and Residuals on '08 Cooper (non S) [MULAWYER]
Apr 07, 2008 (12:24 pm)
12K miles... athought it should have been 15K. im over the mileage already
#122 of 798 Re: MF and Residuals on '08 Cooper (non S) [MULAWYER]
Apr 25, 2008 (1:17 am)
Hi MULAWYER. BMW's standard lease money factor for MINI models varies by region. If you tell me what state you are in, I can give you a better idea of what it is in your specific area right now. In general, it is probably around .00210 for any length lease of an '08 Mini right now. The 36 month, 15,000 mile per year residual vale for a base 2008 MINI Cooper is currently 66%. You're right, the 68% residual value is for leases with 12,000 miles per year.
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