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MINI Cooper Lease Questions

286 messages,  Last post on Nov 19, 2009 at 7:48 AM

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What is this discussion about? MINI Cooper, Car Leasing, Convertible, Hatchback

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#189 of 286 Re: Mini Coopers S Lease Question-HELP [jorgedbernal] by Car_man HOST Jan 21, 2009 (3:37 am)
Replying to: jorgedbernal (Jan 17, 2009 4:23 pm) Hi jorgedbernal. The selling price that you were quoted for this car looks good to me, but you may be able to shave another couple hundred dollars off. The money factor looks slightly high, but it varies by region so I don't know what the exact number should be in your neck of the woods. The dealer is likely marking it up a little. If you have the time, it wouldn't hurt to get a quote from another dealer or two to see what sort of money factor they quote you.   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 Replies to this message: isell188 (Jan 30, 2009 7:53 am)
#190 of 286 Re: Mini Cooper Lease Question [megirn] by Car_man HOST Jan 21, 2009 (3:41 am)
Replying to: megirn (Jan 20, 2009 7:42 am) HI megirn. The best way to evaluate whether this is a good deal is to look at the selling price that this lease is based upon and the money factor that was used to calculate the monthly payment. These are the two main profit centers for dealers on leases. Let us know what these numbers are and I'm sure that either myself or another helpful community member will be glad to give you their opinion.   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
#191 of 286 Re: mini select [Car_man] by megirn Jan 21, 2009 (6:20 am)
Replying to: Car_man (Jan 21, 2009 3:11 am) Are fees for dealer doc. fee ($600.), battery, tires, doc stamps (218.), security (225.), up front taxes (253.) normal fees or just profit for this particular dealership? Replies to this message: Car_man (Feb 11, 2009 2:52 am)
#192 of 286 Re: 2009 Mini Cooper Lease [Car_man] by toky Jan 21, 2009 (12:18 pm)
Replying to: Car_man (Jan 21, 2009 3:31 am) The dealership was giving a hard time going lower than 0.0029 MF. Credit score is 770.   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? Replies to this message: Car_man (Feb 11, 2009 2:58 am)
#193 of 286 Re: Mini Coopers S Lease Question-HELP [Car_man] by isell188 Jan 30, 2009 (7:53 am)
Replying to: Car_man (Jan 21, 2009 3:37 am) where did he get such a discount? I am currently looking at getting a Mini Cooper S that has a sticker price of $27,450 but they are only knocking off 1,000 on it. I am planning on doing a 2yr lease and the MF and residuals are good, i was just hoping to get the car in the 25K range. any ideas ( I live in PA)
#194 of 286 Re: mini select [megirn] by Car_man HOST Feb 11, 2009 (2:52 am)
Replying to: megirn (Jan 21, 2009 6:20 am) Hey megirn. Most banks that lease vehicles charge consumers a security deposit that is equivalent to their vehicle's monthly payment rounded up to the nearest $25 or $50 increment.   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
#195 of 286 Re: 2009 Mini Cooper Lease [toky] by Car_man HOST Feb 11, 2009 (2:58 am)
Replying to: toky (Jan 21, 2009 12:18 pm) Hi toky. On most vehicles, consumers who shop around are able to find a dealer that will charge them the dealer buy rate on leases...particularly in today's difficult retail environment.   The money factors for all Mini models are exactly the same.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#196 of 286 Acquisition Fees and MF by jvost Feb 15, 2009 (8:23 am)
Hi - Can anyone out there confirm BMWFS's acquisition fees for a Mini Cooper lease? I see from the board that many dealers are charging $925, but I think the dealers may be marking the fee up an additional $200 from the finance company's actual fee of $725. Also, can anyone confirm what the buy rate for the MF is for February? According the following website the factor is .00219, which is significantly lower than what I see being reported on earlier posts. Again, I'm assuming the dealers are marking this up.   http://www.ridewithg.com/index.php/2009/02/09-mini-cooper-lease-rates-for-februa- ry-2009/ Replies to this message: Car_man (Mar 02, 2009 5:12 am)
#197 of 286 Re: Acquisition Fees and MF [jvost] by Car_man HOST Mar 02, 2009 (5:12 am)
Replying to: jvost (Feb 15, 2009 8:23 am) Hi jvost. BMW Financial Services' base acquisition fee is indeed $725. BMW dealers, and I suppose Mini dealers, are notorious for trying to mark up BMW FS' base fee to add additional hidden profit to deals. You should be able to find a dealer that will charge you the base fee if you negotiate with them some more or shop around.   BMW's money factors for Minis vary by region. They should probably be anywhere from .00210 to .00240 depending upon where you live.   If you are not 100% set on leasing, you might be interested in the fact that 4.9% financing for up to 5 years on Minis.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#198 of 286 09 Clubman Lease - Opinions? by lala711 Mar 04, 2009 (10:42 am)
I ordered an '09 Clubman due here in 9 weeks, and wanted to get some opinions on the lease I was offered:   MSRP: $26,200 Selling Price: $25,700 Lease Terms: 3 yrs/12,000 miles per yr Residual: 68% Cap. Cost Reduction: 873 Acquisition Fee: $925 Security Deposit: $400 Tax, Title, License Fees: $369   This gets me the car with about $2K out the door. Based on these numbers, I'm calculating the MF around .00208. I'm trying to figure out how to make this deal better... any thoughts? I know the acq. fee was increased by the dealer by $200, and I'm thinking I may be able to get another $500 off MSRP (for a total of $1K off)... do you think I should ask for more? Or would you say this is a good deal? Thanks for the hlep!

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