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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
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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Replying to: megirn (Jan 20, 2009 7:42 am) One thing that I noticed about this deal is the large amount of money that is due at lease signing. I always advise consumers not to make any capitalized cost reduction when leasing. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be slightly higher, you will be better off going with a zero down lease. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: Car_man (Jan 21, 2009 3:11 am)
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Replying to: Car_man (Jan 21, 2009 3:31 am) They started at MF of 0.0031 and came down to 0.0029. I think he said something about the dealer buys the money at 0.0025. Doc fees of $395 and registration fee of $200. Would the MF be different for Cooper S rather than a non-S? And if so, what should it be for a Cooper S?
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Replying to: Car_man (Jan 21, 2009 3:37 am) |
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Replying to: megirn (Jan 21, 2009 6:20 am) The battery, tires, and other fees that you mentioned are likely legitimate charges that are levied by your state. Doc fees on the other hand aren't really anything more than a way for dealers to pad their profit in deals. Adding insult to injury, a $600 doc fee is particularly high. Look at this fee as part of your car's total selling price. If the price that you are getting it for, including this charge, is less than you would have to pay for it elsewhere...then go for it. If you think that this fee makes the price that you are being charged unreasonably high, then comparison shop with a few other dealers. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: toky (Jan 21, 2009 12:18 pm) The money factors for all Mini models are exactly the same. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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