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MINI Cooper Lease Questions

729 messages,  Last post on May 19, 2013 at 9:02 PM

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

Messages Page 66 of 74

#647 of 729 MINI lease REFUND excessive wear and tear by dammitjerry

Aug 03, 2012 (11:44 am)

Hello
 
I leased a 2012 mini cooper a couple weeks ago. Without thinking, I took the excessive wear and tear policy for an extra 30 bucks a month. Since then I have regretted getting this an have been making requests to have this canceled (i have 60 days)
 
Since this was financed as part of the lease, they are saying my payment will stay the same but in the end I will owe less.
 
What I am wondering is if I owe less on my lease, then what will happen near the end of my lease term.
 
Back in the day during a refi i was told i cannot pay off a lease because that would conclude the lease term and i would have to return the car.
 
So if i have been paying more this whole time how do i get my money back. Do i have to purchase the car in the end? do they refund my money back at the time -minus expenses.
 
Never had a lease before so I am not sure how this all ends..
 
thanks in advance for the help..sorry for being a noob

#648 of 729 Re: mini cooper convertible august 2012 numbers [einbayer] by einbayer

Aug 12, 2012 (10:42 am)

Replying to: einbayer (Aug 01, 2012 12:01 pm)
hi car_man
any rates available for S and non S convertible cooper 2012/2013
with 12k 36 mnths in California? thank you....
  
thanks for your on-going help!
do you have August 2012 rates for current mini cooper convertible (S - and not S) lease?
12k/yr... LA, California dealers...
  
thank you. i have leased my last 3 cars armed with info from you and i think i did pretty well...
  
einbayer

#649 of 729 $0 to Motor Lease by czar4

Aug 14, 2012 (1:33 pm)

Car_Man,
 
Looking for some help on the August $0 to motor lease deal on the Countryman All4. Here's fine print in case you are unfamiliar:

*** $0 TO MOTOR $379 Per Month for 38-month lease on a 2012 MINI Cooper S Countryman ALL4
38-month closed-end Lease Contract offered to qualified customers by MINI Financial Services through participating dealers. $0 cash due at signing (based on $0 first month payment, $0 down payment, and $0 security deposit). Not all customers will qualify for security deposit waiver. Lease rate and fees based on example of a new 2012 MINI Cooper S Countryman ALL4 with MSRP of $29,040. MSRP includes destination & handling charge. Excludes tax, title and dealer fees. Lessee responsible for insurance, excess wear and tear as defined in the lease contract, and a disposition fee of $350 at lease end. The maximum amount of miles for the duration of the lease is 31,667 miles. Purchase option at lease end is $16,553. May be combined with any eligible credits. Subject to credit approval. Models pictured in advertisements may be shown with metallic paint and/or additional accessories. Offer valid through 08/31/2012. Must be delivered 11/30/2012. Visit your authorized MINI dealer for complete details.
 
I went into the dealer today, and of course they did not ahve the exact car, but the salesman found one that was close with a sticker of exactly $30k. Having not purchased a Mini before, I was alittle taken aback when he started running numbers rather than the finance guy usually does. Anyway, it was quite convuluted, and I could not tell if he was playing dumb or was himself confused. Here's what he came up with:
 
MSRP: $30,000
Selling Price: $29,000
Cap Cost: $29,725 (he swears I have to pay the acquisition fee of $725 even though it's not listed in the fine print)
MF: .00135
Residual: 57%
pmt: $395.45 (w/o tax)
 
All I have to come in with is DMV, doc, associated taxes, and difference between actual pmt and the $379 mini will cover the first month (about $500 total for everything). Seems reasonable, but:
 
1. Do you think I can do better on the price?
2. Should I have to pay that acquisition fee?
 
I come up with $375 per month (w/o tax) when the acquisition fee is removed.
 
Thanks!

#650 of 729 Re: 2012 Mini Cooper w/ Auto [prabsri] by Car_man HOST

Aug 16, 2012 (5:59 pm)

Replying to: prabsri (Jul 23, 2012 5:09 pm)
Hi prabsri. The money factor that you were quoted is too high. Mini's current buy rate lease money factor for this model is only .00145. Try not to let the dealer mark your car's factor up if possible.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#651 of 729 Re: 2012 cooper convertible. [mandakism] by Car_man HOST

Aug 16, 2012 (6:10 pm)

Replying to: mandakism (Jul 24, 2012 2:36 pm)
Hi mandakism. I don't really have a problem with the $1,900 discount. Just make sure that the dealer uses Mini's buy rate lease money factor of .00145 to calculate your payment.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#652 of 729 Re: Carman - July leasr rates for Countryman?? [franklingt3] by Car_man HOST

Aug 16, 2012 (6:11 pm)

Replying to: franklingt3 (Jul 24, 2012 9:32 pm)
Hi franklingt3. The residual value that you were quoted is correct, but the money factor is way too high. Mini Financial's current buy rate for a 2012 Countryman is .00140.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#653 of 729 Re: mini cooper convertible august 2012 numbers [einbayer] by Car_man HOST

Aug 16, 2012 (6:14 pm)

Replying to: einbayer (Aug 01, 2012 12:01 pm)
You're welcome einbayer. Mini Financial's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Cooper Convertible with 12,000 miles per year are .00145 and 56%, respectively for consumers who qualify for its top credit tier.
 
The numbers for the '12 Convertible S are .00145 and 57%.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#654 of 729 Re: Countryman S lease Rates (August) [zonian22] by Car_man HOST

Aug 16, 2012 (6:18 pm)

Replying to: zonian22 (Aug 02, 2012 4:24 am)
Here you go zonian22. Mini Financial's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Mini Countryman S with 12,000 miles per year are .00140 and 58%, respectively for consumers who qualify for its top credit tiers.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#655 of 729 Re: $0 to Motor Lease [czar4] by Car_man HOST

Aug 16, 2012 (6:34 pm)

Replying to: czar4 (Aug 14, 2012 1:33 pm)
Hi czar4. Surprisingly the dealer is not attempting to mark your vehicle's money factor up on you. .00135 is the current buy rate for this model.
 
Having said that, this vehicle probably has a spread of around $3,000 between its full MSRP and its dealer invoice price. A discount of $1,000 is nothing to write home about, but I'm not familiar with what the market for this model is like in your area. $2,000 over invoice is enough that it wouldn't hurt to comparison shop if there's another Mini dealer in your area.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#656 of 729 mini cooper hard top by propkapt

Aug 18, 2012 (2:50 pm)

Hi car man can you please post residual and money factor for a 2012 and 2013 cooper hard top with 12k annual miles. I don't know if the 2013's are at dealerships at this point. Thanks

Messages Page 66 of 74

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