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Prices Paid: Buying & Leasing Experiences MINI Cooper Lease Questions
159 messages, Last post on Jul 16, 2008 at 5:33 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: qbrozen (Mar 07, 2006 12:15 pm) My wife's Solara Convertible lease payments with a $30k selling price, 4 year 0 down, is only $398. I was really hoping that the Mini would be closer to the low-mid $300s.
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Replying to: tommyg12 (Mar 09, 2006 7:30 am) well, i guess since its a hot car, the money factor is higher than most cars (??)
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Replying to: qbrozen (Mar 09, 2006 11:04 am) Car_man Host Smart Shopper / Prices Paid Forums |
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| I just signed a lease for 36 mo. I am paying $525/mo including tax with just paying $1,815 at signing which includes 1st month and doc fees,etc. MSRP is $31,450. Did I get a good deal? | |
Hey Car_Man, any idea what the current MF and residual value would be on an '06 Mini Cooper for 24mos and 30mos with 15k per year in Southern California? Thanks!
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Replying to: cvpacguy (Apr 27, 2006 7:37 pm) Car_man Host Smart Shopper / Prices Paid Forums |
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Just leased a 2003 Mini S - all options but the Nav. Negotiated price was $18000. I looked at the leasing work sheet, and it looks like net cap cost after our cash down and trade was $16,600. I remember the money factor being .00385. Base lease was $235, with tax $248 for 48 mos/10K miles (I really don't drive more than that, so it's OK). I've plugged into the leasing calculators, and it seems like it was am OK deal.. and the money factor seems OK for a used car... any comments? Thanks |
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My girlfriend is trying to decide between buying or leasing a 2006 MCS. The total purchase price is $25,450. In running these numbers through the MINI.com calculators, she gets about a $450/mo payment with 2500 down, 6%APR, and 60 month term. When she calculates a 36 mos lease with 1k cap reduction she gets a payment of $456 - which I assume is the result of the high purchase price and money factor? Furthermore, the "Mini Select" Balloon option for 36 mos and 2500 down comes to about $385 or so, which makes it the most favorable (and flexible) option. Are the lease payments really more expensive than buying the car as the site shows right now? Based on the current residuals and money factors, is the balloon option the best way to go for the Mini? The Balloon option only allows you to re-fi or buy after you've finished the term, so it looks like you have to bank on the high residual and market factors like gas prices and demand to come out ok at the end? Any insight or help you can provide us is greatly appreciated, and thanks for all the help you provide to us confused consumers!
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Replying to: jamaica77 (Jun 20, 2006 7:33 pm) I know nothing of their balloon note, but if you have to buy it at the end, it doesn't seem like such a good option. What is the rate on the balloon note? If its a very low rate, then MAYBE it could work in your favor if you are careful. My personal opinion is to finance it. As long as the residuals stay ridiculously high, as they have been since the car was introduced, you'd at least be building equity pretty quick. |
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Picking up my mini today. Have been quoted MF of .00435 for 15K miles on a selling price of $29349. They are charging me a bank fee of $850. The MF seems to relate to an APR of 10.44%!!!! When I do my own lease calcs (using something I got off the internet) my payment should be about $439 (incl CA sales tax at 8.25%. the payment they quote (oh sorry...6500 down) is over $500. I can't figure why the big difference. And reading the above postings, seems like I am being screwed. |
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