I have not bought a car for the wife and I in over 12 years and prefer to lease since we like to get new cars every 24-48 months.

My question is why does the mini lease so poorly?
The dealer brags about a mini holding a very high resale value which should translate into good lease rates.

Currently driving an '07 BMW 530i6 that I picked up in Munich through BMW's European Delivery program. I have good credit, 770.
But leasing a moderately appointed S coupe at $540/mo ($0 dn/36mos/15K p yr) seems way out of line considering the MSRP.

TIA for your thoughts.

 

Welcome to NAM.

New Mini's practically drive themselves off the dealer's lot. So why would a dealer want a used Mini returned to them?

Demand is far higher than supply.

 

The interest rates are high, so it offsets the high residual value. The interest rate I was quoted last was slightly over 7%. It may have come down in the last week or so as the fed funds rate has decreased.

 

I just leased a regular Cooper which leases much better but the rest of these guys are right. It may have a high residual but also a high money factor to offset that where their money factor is equivalent to paying around 7% interest and most other manufactureres offer money factors equivalent to 0%-3%.

 

Thx all for your insights.

 

I say it's completely supply and demand, they can sell every car they build so there is no reason to discount.

 

that's also a zero down lease with fairly high mileage allowance per year. Now if U put down $2K and reduced the miles to 10K then I bet'd be lower

 

I ran the numbers, and you would be better off to fund this yourself.

Take a $26K car, assumes it depreciates to $12K in 3 years (which it probably won't), get a loan at 7% and your monthly cost is only $432.28.

Anything over this is simply Mini making themselves healthy.

 

$540 a month? I bought my MINI over 5 years for $420 a month. That seems kinda high to me.

 

I leased mine for $290/month for 4 years.

 

Yesterday I stopped by the local dealer and drove a '08 MCS 6 speed Sport.
All I can say is WOW, I was extremely impressed.
I suppose for the price I was not expecting it to be so solid and tight.
It felt like the car was milled from a solid block of metal.
The only car I have driven that felt as solid was a BMW M Coupe.
Enough power, great engine/exhaust sound. Some torque steer, but being FWD, it is what it is.
Literally like a go-kart. Excellent visibility and on the highway was fast and planted.
Usually I am not easily impressed having had seat time in various 911s and a few M cars.

I had thought about the mini as an economy car, and I was very wrong.
More than likely my next car, now just to decide between the S Coupe, S Convertible, or S Clubman.
Also the customization options are alot of fun, too bad they do not offer a UK delivery (ala BMW's Euro Delivery).

Then I got back in my BMW 530i6 Sport and it felt like a Buick...
Seriously.