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Prices Paid: Buying & Leasing Experiences MINI Cooper Lease Questions
282 messages, Last post on Nov 05, 2009 at 2:24 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Where: Indianapolis, IN What: Cooper S MSRP: 25,100 Lease: 36 months MIles: 15,000 per year Amt down: $0 Credit approved (good to excellent) - asked the dealer (in an email) the mf used and residual value - to which he didn't answer but shot back the monthly $ figure for this lease would be... $445 This seems high? Is it possible to derive the mf from the above info? Capitalized cost - is this the MSRP figure? Or are there other figures added (tax, fees, etc)?? Residual Value - is 68% correct? Would it then be 68% of the MSRP figure By the way, I replied back via email that the monthly was too high and that their mf being used must be too high - said thx for the help and that I would look elsewhere. He has since left a message to call him What is a "reasonable" amount to be paying monthly for the above setup? Thx in advance |
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Car_Man - I am interested in the buy rate money factor for April on a Cooper S Convertible. I've been quoted .0024. Also, would you advise someone to pay a security deposit and an acquisition fee to lower the money factor? Thanks in advance.
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Replying to: dslucki (Apr 29, 2009 1:23 pm) BMW's April residual value for a 36 month, 15,000 mile per year lease of this car was 59%. This lease program was scheduled to run through April 30th, but I suspect that its May program will be very similar...if not exactly the same. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (May 01, 2009 2:06 am)
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Replying to: dslucki (May 04, 2009 6:38 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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I am planning to visit a couple of mini cooper dealerships this weekend. I have always been opposed to leasing because I would be obsessed with making sure I was within the mileage limits. However, I have decided to keep my current car and get the mini as a second car, making the mileage limits a non-issue. A collegue is strongly pushing a lease, but I really know nothing about them. Can someone please tell me the main things to look for to make sure I am getting a good leasing deal? I would like to keep any lease payment under $350 and so far like minis in the 22-24K price range, is this type of a lease payment even feasible? Any information about the above questions or leasing vs. traditional purchase would be greatly appreciated (I really would rather not do the Mini Select purchase as I don't want a balloon payment at the end, but the dealers really seem to push this financing option). Thanks
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I am planning to visit a couple of mini cooper dealerships this weekend. I have always been opposed to leasing because I would be obsessed with making sure I was within the mileage limits. However, I have decided to keep my current car and get the mini as a second car, making the mileage limits a non-issue. A collegue is strongly pushing a lease, but I really know nothing about them. Can someone please tell me the main things to look for to make sure I am getting a good leasing deal? I would like to keep any lease payment under $350 and so far like minis in the 22-24K price range, is this type of a lease payment even feasible? Any information about the above questions or leasing vs. traditional purchase would be greatly appreciated (I really would rather not do the Mini Select purchase as I don't want a balloon payment at the end, but the dealers really seem to push this financing option).
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car_man & kyfdx: Looking for June buy rate money lease factor for a 2009 Mini Cooper Hardtop Base with MSRP = $20,450 (Auto) 36 mos/12K miles and corresponding residual value. From your previous posts, it appears these little cars hold their value pretty well, but assume it has dropped since the previous quotes of 68-69%. In Illinois, would be looking for zero down and rolling all tax/title/license into the deal. (we pay sales tax on the entire SP in IL). No trade, would like to "sign and drive". First quote came in at MSRP ~ $287.xx/month. Seems high...few posts here said to expect at least 1K off MSRP. Thoughts? and thanks for your knowledge!
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Replying to: ufjen34 (Jun 02, 2009 4:07 am) I am looking at a 2009 mini cooper s convertible with an MSRP of 33,800. I got an email from the sales guy today telling me that the residual on a 36 months, 10K/yr lease is 20618 - which calculates to 61% (20618/33800). He then tells me that the money factor is .00335 and the "payment all inclusive" is $638 with $1000 down but I don't have any other info about what that is including until tomorrow. I want to be armed with accurate info tomorrow as I think he is marking up the money factor etc. I know rates vary by region - this is las vegas 89138. I know the acquisition fee is supposed to be $725 - anything else to look for as far as scams? Should there be any doc fees on a lease like there is on a purchase? Thanks for any help! |
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Replying to: ufjen34 (Jun 02, 2009 4:05 am) In short, the best way to get a good deal on a leased vehicle is to negotiate the lowest possible selling price on the car that you want and then have the dealer calculate your monthly payment using its buy rate lease money factor. Check out the articles and let us know if you have any questions. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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