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Prices Paid: Buying & Leasing Experiences MINI Cooper Lease Questions
286 messages, Last post on Nov 19, 2009 at 7:48 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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I am getting ready to trade in a my car for a 2008 Mini. I was thinking of leasing as I keep buying and never, ever pay off the car before I trade it in. They told me of the Mini Financial program of Owner's Choice. Anyone? Any input? Lease? Any thoughts? Thanks.
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Replying to: coasterguy (Jun 12, 2008 6:14 pm) Check Leasecompare for better lease rates than BMWFS offers. BMW does little to prop up the mini with leasing as it's such a cash cow. This is the exact opposite of leasing a BMW 3 series which gets tons of support from BMW. |
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Replying to: Car_man (Apr 25, 2008 1:17 am) Just receied a quote from Midwestern Auto Group in Columbus Oh on 2 and 3 year leases with 76% and 66% residuals respectively (10,000 mi/yr). Also the quote included a money factor of .00359 which seemed a little high. Payments were 348 and 359/mo with 3k down. Do you know what BMW's money factors are right now? Thanks, gman71 |
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I went to MINI dealership in Mountain View of CA in February. We ordered a new MINI, base model/auto transmission, with a lease contract, 12k miles/year, 3 years. I choose to put down about 24XX so the monthly payment is about 260.xx. I lease it for my wife and she loves the car. These days we drive this car a lot because it is really a gas saver, 34 mpg with 70% highway. I think this is a good deal because February economy was soft and gas price was so as high as today yet. I believe these days people have to pay more to get a MINI out of the door because there are so much demand for small cars. And cost of steel and paint are going up rapidly. Inflation is here apparently.
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June's lease rates for all Mini's. Here's the lease formula/calculator in case you need it. The MF is typically not negotiable unless the dealer has marked it up. IF you simply don't quality for the lowest MF, then you are out of luck. The residuals are strong on all Mini's, so even with a .00219 MF, the leases should be reasonable (not in the $600 range). Just watch out on the price of the car. The options add up quick. |
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Replying to: chengh (Jun 25, 2008 9:27 pm) Did you pay the acquisition fee separately? Dealer/doc fees? License and title? |
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Looking to lease an '08 Chili red S Coupe - 24 months, 12K miles/yr WA Dealer selling at MSRP - $25,350 (Incl Cold Weather & Convenience Pkgs, DSC, Xenon, speaker upgrade, 6spd) + Dealer Prep $595 + Addl Cap Cost (lease origination fee?) $825 So Adj Cap cost = $26,770 MF = 0.00250 Residual = 75% Tax = 9.1% Monthly Payment = $477.50 So up front payment = $1,164.25 ($477.50 1st month pmt + 500 security + $136.75 DMV + $50 Doc fee) What do you think? Good Deal? Anything I could negotiate? Thx! |
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Replying to: nwminicruzer (Jul 01, 2008 3:27 pm) MF = 0.00295 Residual = 78% nets me a slightly lower monthly payment at ~ $468 Everything else is unchanged! Can't wait for my car 
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Replying to: nwminicruzer (Jul 08, 2008 3:30 pm) Don't know if you have family who are members of NFCU but you can get a far better lease rate through them. They offer a 4.4% (0.00183) for 36 month, 45k leases - you can probably get better residuals from them for your 24k mile lease. They charge an origination fee of 2% of the msrp added to the sale price as the lease initiation fee. I believe on a 45k/3 year Cooper S they told me the residual is 68%. I did it up on leaseguide.com for NFCU's number on a 3 year 45k mile lease for a Cooper S: MSRP: 25350 Origination fee 2%: 507 Mf: 0.00183 Tax 9.1% (egad!) 64% residual (aimed low but I think they said 68%) Monthly payment: $382 Gap insurance included So if you have family in Navy Federal Credit Union (NFCU) - brother, mother, uncle, roommate, wife's family, etc - you can join NFCU. It's worth it.
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Replying to: blueguydotcom (Jul 11, 2008 6:49 pm) 
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