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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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Hi Car_Man, Need of your assistance ASAP. Just put a deposit down for an 09' Mini Cooper and not sure if it's a good deal. MSRP: $20,950 Location: Mahwah, NJ Mileage: 12K / yr Term: 36 Months Due at sign: $2,500 ($1,999 down) Sec Fee: $250 Dep Fee: $350 1) What would you consider a good lease payment with the information provided? 2) Could you get me the MF and Residual so I can do some type of ball park figure? THANKS in advance! |
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Replying to: toky (Jan 10, 2009 4:56 pm) |
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Replying to: toky (Jan 10, 2009 4:56 pm) Car_Man is far better equipped to answer this, but to give you something to work with: - first, don't ever put a downpayment on a lease. There are lots of reasons for this which you can learn by reading other posts on this and other forums. - I don't have the January lease program numbers, but using a 69% residual and 0.00250 MF at MSRP for 36 months, capitalizing the destination charge and acquisition fee, I come up with about $308/month + sales tax. This assumes NO downpayment. This isn't perfect, but it is probably within +/- $25/mo. Hope this helps. j.
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Replying to: jon330cic (Jan 17, 2009 6:58 am) Please help me understand this downpayment thing. Banks are pay interest next to zero these dates. MF 0025 is 6% APR. If I don't carry any debt and have decent saving in the bank. Any reason why shouldn't I go for it? Thank you for your time. 
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Replying to: rocku (Jan 17, 2009 10:21 am) Instead, I would suggest the Multiple Security Deposit program, which will reduce the MF, and you will get the $$ back should the car be totalled. Ask your dealer or read up on the forums. When I did my lease, the ROI on the 7 security deposits I made calculated to about 8%/year - which is a no-brainer given other investment options these days. |
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Hello CarMan... I have a lease question, Im wondering whether I should pull the trigger on this deal. Here are the stats...this deal is in Miami, Florida. 2009 Mini Cooper S MSRP: 27450.00 Selling price $25950.00 Money Factor: 0.00290 Residual Value 67% Lease end value $18391.56 $602.19 Cash Down Total Add Cap Cost: $925.00 $2000 Inception 36 Month Lease 10k miles Monthly Payment $372.85 including tax. FYI: These figures were taken directly from the Mini Saleperson worksheet, I took a picture of it and can email it to you if you need to look it over. Is this a good deal? We walked out, and 15 minutes later we got a call saying that the lowest they can go is $342.00 including tax. What should I do? Please help and thank you!!!
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I am considering a lease offer for a 2009 Mini Cooper (MSRP $20,450.) for $199. It is for 36 months, 10,000 miles/year, plus tax, tag, title and dealer pre-delivery service fee of $599.95. $2,500. due at lease signing. Does this sound like a good deal? Any questions we need to ask them? Thank you for your assistance.
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Replying to: mgm11937 (Jan 06, 2009 4:05 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: toky (Jan 10, 2009 4:56 pm) BMW's current buy rate lease money factor and residual value for a 36 month lease of a base 2009 Mini Cooper with 12,000 miles per year should be around .00240 and 69%, respectively (man, what an amazing resid). I see that you are considering making a $1,999 down payment on this car. It is in your best interest not to make any capitalized cost reduction when leasing. I always advise consumers not to do so because if their vehicle is totaled in an accident or stolen and never recovered, there is a good chance that any cap cost reduction that was paid will disappear. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: jorgedbernal (Jan 17, 2009 4:23 pm) Obviously, the $342 payment is a lot more attractive than the $372 payment that you were initially quoted. You should find out what selling price and money factor were used to arrive at the new deal. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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