- #56 of 159
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Re: A few things.. [qbrozen]
by mynewmini
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Aug 04, 2006 (7:49 am)
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Replying to: qbrozen (Aug 03, 2006 8:26 am)
Well, the dealer was upfront about marking up the MSRP by $395 and the acquisition fee by $200 and would not reduce either. They did take off the security deposit ($400); not a real victory since I'd get it back anyway! In any event, the best they'd give me on a lease was $350/mo, 15,000 miles/year for 36 mos. Since it was only $100 more a month on a 60 month loan at 6.5%, I bought it (I could have gotten 6.35% interest rate through Capital One, but the difference was only a couple of dollars a month, so I went through BMW for convienience).
I SO excited to have the car finally (had to wait 5 months for it)!! She's beautiful and zippy!
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- #57 of 159
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Re: A few things.. [mynewmini]
by qbrozen
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Aug 04, 2006 (7:53 am)
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Replying to: mynewmini (Aug 04, 2006 7:49 am)
Congrats on the purchase.
So did they still mark up the MSRP by $400 on the purchase? At least you didn't have to pay the acquisition fee this way.
Enjoy.
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- #58 of 159
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Re: A few things.. [mynewmini]
by kyfdx HOST
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Aug 04, 2006 (9:53 am)
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Replying to: mynewmini (Aug 04, 2006 7:49 am)
I think you made a good choice... MINI is one vehicle that might actually have better re-sale than the residual would suggest...
If that turns out to be the case, you might end up even farther ahead..
Congrats on the new car!!
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- #59 of 159
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Re: A few things.. [kyfdx]
by mynewmini
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Aug 04, 2006 (2:18 pm)
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Replying to: kyfdx (Aug 04, 2006 9:53 am)
Yes, they did still mark up the price by $400. Kind of a drag, but I was glad not to also pay the (marked up) acq fee. Certainly, if the demand remains at all the same, the resale value will be better than the residual.
Thanks again for all your guidance.
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- #60 of 159
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money factor san francisco area
by tonkadu
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Aug 24, 2006 (7:05 pm)
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Replying to: mynewmini (Aug 04, 2006 2:18 pm)
anyone know what a proper bmw financial services money factor should be in this area? i have been quoted .004 by mini san francisco, which seems very high. any help would be greatly appreciated.
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- #61 of 159
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Mini Cooper MF and Residual Request
by earcom
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Oct 08, 2006 (10:12 pm)
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Hello Car_Man,
Like many people on these boards I depend on your assistance when purchasing/leasing cars and in this case I would like to know the October 2006 money factors and residuals for both the Mini Cooper and the Mini Cooper S for 36 months and 12K miles.
Thank you for all of the information and assistance that you provide.
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- #62 of 159
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Re: Mini Cooper MF and Residual Request [earcom]
by Car_man HOST
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Oct 18, 2006 (4:45 am)
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Replying to: earcom (Oct 08, 2006 10:12 pm)
You're very welcome, earcom. As usual, Mini is not currently providing any sort of lease support on its cars. As a result, if you were to lease one through its captive finance company right now, you will have to use its standard lease money factor. Its standard factors vary by region, but should currently be around .00289 for consumers who qualify for its top credit tier, give or take. Its current residual value for a 36 month lease of a 2006 Mini Cooper with 12,000 miles per year is 67%. Its residual for an otherwise identical lease of a Mini Cooper S is 63%.
Car_man
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- #63 of 159
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Re: Mini Cooper MF and Residual Request [Car_man]
by bgates222
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Oct 22, 2006 (3:33 pm)
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Replying to: Car_man (Oct 18, 2006 4:45 am)
Hey I was Quoted a money factor of .00320 at manhattan mini is there a sure fire way to know if they havea ajusted it or not?
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- #64 of 159
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Re: Mini Cooper MF and Residual Request [bgates222]
by Car_man HOST
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Nov 16, 2006 (3:36 am)
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Replying to: bgates222 (Oct 22, 2006 3:33 pm)
Hi bgates222. There's no definite way to prove that the dealer that you are working with is marking up your vehicle's money factor, but the factor that you were quoted does sound a little high to me. I suspect that Mini's current buy rate lease money factor is below .00300. You may want to try shopping around at another Mini dealer or two, there should be a number of them in the New York City area, to see what sort of money factor they quote you.
Car_man
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- #65 of 159
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Re: Mini Cooper MF and Residual Request [Car_man]
by bgates222
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Nov 16, 2006 (8:09 pm)
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Replying to: Car_man (Nov 16, 2006 3:36 am)
i went to the other mini dealers and they were all about the same on everything which surprised me lol thanks for your help though.
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