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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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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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Replying to: slhouse1 (Jun 08, 2009 7:26 am) Mini's current buy rate lease money factor and residual value for a 36 month lease of a base 2009 Cooper Hardtop with 12,000 miles per year are .00230 and get this 70%, respectively. 70% on a 3 year lease. That's nuts. BMW's going to take a bath when these things come back in three years, but it's great for consumers. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Jun 16, 2009 2:32 am) What are comparable numbers on an "S" hardtop lease? 3yr/45K.. Thanks!
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I've never done a lease and I'm getting educated and I would love to get your advice. We are looking at leasing a Mini Cooper Hardtop with the premium package coming out to MSRP 22,500. Since this lease deal is pretty good, do you think I will still be able to negotiate to a lower MSRP? Anything I should look for on this June lease special? Thanks! Grant
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