Last post on Jun 18, 2013 at 3:55 PM
You are in the Prices Paid - Buying & Leasing Experiences
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MINI Cooper, MINI Cooper Countryman, Car Leasing, Coupe, Convertible, Hatchback, SUV
#88 of 747 Re: Leasing a mini cooper S [chittus]
by Car_man HOST
May 17, 2007 (3:38 am)
Welcome chittus. Mini has never provided lease support on its cars. As a result, consumers who want to lease one through its captive finance company have to use its standard lease money factor. This standard factor varies by region, but it should currently be around .00265 to .00300. The 24 month, 15,000 mile per year residual value for a 2007 Mini Cooper S Hatchback is 72%. The residual for an otherwise identical 36 month lease is 67%. The residuals for leases with 12,000 miles per year would be 2% higher.
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#89 of 747 Leasing a Mini in NJ
May 17, 2007 (6:19 am)
Is the residual value different from 2007 Cooper to Cooper S? I'm new to the forum and new to the world of leasing, and am trying to plug in these numbers to get a better idea. I'm from NJ and one of the dealerships here quoted $410 for Cooper 24 months, 15,000 mi/yr with zero $down! And $489 for Cooper S.
#90 of 747 How close is the estimator?
Jul 21, 2007 (12:15 pm)
How close in Mini's payment estimator? I get $350 on the Mini Site and $300 on your lease estimator.
My credit is in the mid 600's...will that effect the payment?
#91 of 747 MF for Lease
Jul 31, 2007 (10:42 am)
I am being quoted a MF of 0.00335 by MINI dealer in my neighbourhood whereas the LeaseCompare website gives 0.00225.
Can someone recommend a dealer who gives better lease factor in SOCAL area? I believe that with a credit score of above 700 should give more.
#92 of 747 Re: MF for Lease [gpower]
Jul 31, 2007 (12:04 pm)
Why not do lease compare instead of BMWFS?
#93 of 747 Where can I try to bargain on this Lease?
Jul 31, 2007 (6:45 pm)
It's been a long time coming and I'm almost at a place where I can afford my MINI, but I'm not quite there. I've been working with a dealer on a lease and here's what their current offer is on a new build:
36m/10k $2000 down
The $2000 down = $1219 CCR, $100.58tax, $277.75 DMV Fee, $402.56 1st Payment
Costs Added to Lease: $870 ($45 doc fee, Bank Acquisition Fee $825)
Cap Cost Reduction: $1219
Adjusted Cap Cost: $26,076
Residual: 69% ($19113)
Money Factor: .00335
Term: 36 months
Sales Tax: 8.25
Monthly Payment: $402.56
Here are my questions:
1) Is this a good deal?
2) Can I negotiate on the Doc Fee and Bank Acquisition fee? Is the BAF high? These make my monthly payments about $30 higher.
3) The MF seems to be accurate for SoCal. If I put a $450 "Security Deposit" down they'll drop it to .00320. I guess they figure the interest off of the $450 will more than cover the loss. Is the Residual Value at 69% negotiable? I've seen 70% being mentioned.
4) Can someone show me the math as to why purchasing the car and selling it in 3 years would be better than leasing?
Thanks very much!!!
#94 of 747 Re: Where can I try to bargain on this Lease? [esgam]
Aug 01, 2007 (5:48 am)
You sure that MF is accurate? Have you checked with your own bank or even leasecompare.com? That acquisition fee is very high. Its typically less than $600 on many other cars in this pricerange.
As far as the math goes, just figure the interest on this lease PLUS fees and then figure the interest on a 5-year or 6-year loan over just 3 years since you will then sell it. The cheaper number is the way to go. I don't know what interest rates you can get since it is dependent on your credit, so I can't help you with the math.
#95 of 747 Re: Where can I try to bargain on this Lease? [qbrozen]
Aug 01, 2007 (6:47 am)
BMW/MINI FS charges an extremely high acquisition cost and dealers always bump it more. The base is $695.
Aug 01, 2007 (11:44 am)
Hi I would like to know how much the sales tax is in VA, MD?
#97 of 747 Current Money Factor for Mini
Sep 06, 2007 (7:40 pm)
I was just wondering what the current money factor would be for either a Mini S or a Mini S Convertible. I am coming out of a lease with a 325i. From what I've read here, I should be eligible for a reduced money factor. Is that correct?