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Hatchbacks MINI Cooper MINI Cooper: Lease Questions
287 messages, Last post on Nov 30, 2009 at 7:31 AM
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Dear car_man & kyfdx: Is this a good deal Copper HT : MSRP : $20,300 Negotiated price : $19550 Residual: 71% MF : .00230 3 year/30,000 Miles $958 initial (Deposit + first month + DMV) and $261/Month |
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Dear car_man & kyfdx Do you know the MF and residuals for the july program? thanks.
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I know the terms but not sure what everything means yet so bear with me. I can't find the car I want on one of the 2 lots here in Atlanta so am going to order my Mini. My wants are pretty basic (sunroof, cloth seats, hardtop s) and my one have to have is a 'fun' color (which I've decided is laser blue). My question this morning is really on negotiating the price. The car isn't going to be sitting on the dealer's lot and tying up any of their money for long (if at all?) and I had read that MSRP-$1000 is pretty standard. What about if I order a car? Is -$2K too cheeky? Is the Residual and Money Factor standard across dealerships and do they change periodically (monthly?). What numbers should I be looking for when I go out to talk to them? Sorry for what might be basic quesitons but I haven't dealt with this in 15 years and I deal with stress by researching.
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Replying to: minooka (Jul 11, 2009 5:50 am) 1) The MINI sales model involves most buyers ordering their car... so, you won't get that push-back from the sales staff to buy something on the lot, today.. 2) By ordering exactly what you want, you won't have to pay extra for anything you don't want... Those $100 and $250 options add up fast.. But, you've kind of got the incentive thing backwards... Yes, if you order a car, they won't have any carrying costs, because it is an immediate sale upon arrival.. But, if you aren't buying a car on their lot, that unit keeps accruing carrying costs... they would much rather cut you a deal to get rid of something that continues to cost them money.. In summary.. I don't think you'll get a better deal on an ordered car.. If you bargain hard, you may do just as well as a car currently on the lot.. regards, kyfdx
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Replying to: kyfdx (Jul 11, 2009 7:38 am) Yes, that does make sense. Albeit counter intuitive to my thought process so I'm glad I asked. I'll try for -$1500 and see if I can land at -$1000. Can anyone respond regarding the money factor question? Is that a set number or is there a number I should be aiming for?
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Replying to: minooka (Jul 11, 2009 8:02 am) I know that last month, the money factor was .0023, but I haven't seen or heard about July's numbers.. BMWFS (or MINI FS.. same thing) has a pass/fail system for lease rates.. if you qualify, you qualify... However, dealers are allowed to mark up the base rate by .0004 for extra profit (and, most do). You want to shoot for the base rate, without markup.. regards, kyfdx
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Replying to: kyfdx (Jul 11, 2009 8:06 am) I shouldn't have a problem getting a lease, but with the finance markets the way they are, who knows. I'd really rather buy but with the economic climate (job market) the way it is, I'd rather be safe with a lower monthly payment. Car_Man if you are out there, do you know the current residual value? I'm curious as to how/why it changes every month. Not necessary for actually getting a car, just curious in general.
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Car_man, What are the July lease rates for the Mini Cooper Clubman? Also, do the current Mini lease special requiring taking delivery by a certain date, meaning you can't special order a car and get the lease special? Jacob
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Replying to: pilotman5 (Jun 20, 2009 9:00 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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