For those who lease their Countryman, it would be helpful to others interested in leasing to know the details of your lease. No need to disclose monthly payment as it is not really relevant, especially without knowing the information below, and is also dependent on how your state applies sales tax to leased vehicles. In PA, for example, the state adds a 9% tax to the monthly payment.

If we can avoid debate on leasing vs. buying that would be most appreciated. Lease details can be very helpful to those of us who lease vehicles (be it for the right or wrong reasons )

Did you use MINI Financial or a third party bank?
Which model Countryman did you lease (base, S, All4)?
When did you sign lease? (lease rates vary as model year progresses)
Lease term?
Miles per year allowance?
Residual value percentage?
Money Factor?
Acquisition Fee?
Security Deposit?

Dealers can markup the money factor and the acquistion fee. They cannot negotiate residual values. Understanding the key variables will help all lessees get the best deal possible.

I am going to lease my Countryman when it arrives and will post my details when I know them.

 

Yes having leasing details can really help negotiate the best deal.

I'm getting a Mini S with $1000 off MSRP.
36 Months
10K
Not sure of Residual value or MF yet.

Acquisition Fee is $925 and security deposit is $350 I think.

 

I've read, though not confirmed, that the actual acqusitiion fee from MINI Financial is $725 and that dealers can mark it up by as much as $200, hence the $925 you were quoted. If this is the case, you have $200 to remove from your inception costs.

 

December MF was so so, but residuals are great on these. Can't wait to see January numbers!

 

Agreed. January lease rates should be out any day now.

Here is what I found out for December rates on an All4:

36 mos
Money Factor .00225
Residual 61% (12K miles per year)
Residual 62% (10K miles per year)

Attempting to confirm the following things I read on an Edmunds forum:

The lease acquisition fee is $725 but dealers are able to mark it up by as much as $200.

MINI will waive its $925 ($725+$200) acquisition fee in exchange for an increase of .00035 in the money factor.

MINI will waive its $X security deposit in exchange for an increase of .00015 in the money factor.

If true, the supplemental money factor to waive a $925 acquisition fee is definitely worthwhile but the supplemental money factor to waive the security deposit is not.

 

Why do you think it's worthwhile to waive the acquisition fee?

 

If the dealer is firm on a $925 acquisition fee and you can waive the fee by adding a supplemental money factor of 0.00035, then the additional monies paid over 36 mos is still less than $925. So in essence, you are getting a discount from $925 AND you get to pay it over time. No brainer.

Now if you can get the acquisition fee down to $725 (or perhaps even $825) then it would make more sense to just pay it.

Just do the math and see what works.

 

I wonder if I have a chance of negotiating them down to $725. Just talked to my MA and he said that the January rates have gone up.

 

That would be unexpected. The Jan money factor is just so-so. If it went up without a corresponding bump in residual, it would go from so-so to poor.

Will also check with my dealer to see what they say. Far as I knew from earlier today, the financing rates were released but not the lease rates.

EDIT: Can you ask your dealer for specifics? What is the new money factor?

 

According to the sales manager at the dealership, the January lease rates are now out and they appear to be exactly the same as they were in December.

For a 2011 Countryman All4:

36mos lease
62% residual (10K miles per year)
61% residual (12K miles per year)
.00225 money factor (700+ credit)
.00245 money factor (675-699 credit)

$925 Acquisition Fee (still trying to validate the waiver rate and if cost is really $725)

 

I'm being told that the acquisition fee is taxed and paid as part of inception costs, at least here in PA. Don't recall paying this tax on prior leases.

 

Is this a benefit or drawback?

 

With PA's 9% tax rate that means another $83.25 to pay at closing assuming a $925 acquisition fee - so a small drawback.

 

I plan to lease my Countryman but am concerned on what is deemed "excessive wear" on turn-in at end of lease term. Are a few dings and scratches deemed excessive wear? If so, do they charge you full retail cost to repair? What about that "Safe Lease" excess wear and tear protection available at an extra charge?

I've never leased a car before and need some clue regarding the above! Thanks.

 

I'll try to give an update of my leasing experience.

ChadB, I just returned my '07 Cooper S. I kept my car in great condition with no outside physical damage. They generally allow a few knicks, scratches as long as they are smaller than a quarter or so. The only thing I was charged for ismy two front tires which were bald. But because I had I only has 21K on at 36K lease I had a $400 credit and only had to pay the $100 towards the tires.

An option if you want is to buy the safe lease protection. Try to negotiate the dealer down to $500 or so. This allows lease return coverage up to $5000. Also, don't forget the disposition fee of $350 you need to pay when returning the car unless you go with another Mini or BMW.

As far as my Countryman lease. I was able to get $1300 off sticker.

I'm not sure of all the numbers.

But it's 32,350 and $516 a month with tax and the $925 acq. fee rolled in.

 

I'm an hour or so from signing my lease. Here are the pertinent details:

36mos lease @ 10K miles per year
Residual 62% residual
Money Factor .00225
$925 Acquisition Fee WAIVED by adding .00035 to the money factor above
Security Deposit
$123 Doc Fee
Title/Tag/Reg/Tire Tax $87.65

 

Thanks to Midnight Blue and CrosisN! I didn't know that they will credit you for unused miles below your annual cap. I've opted for 15K a year to be safe, probably will use less than that. My Countryman is at the Eastern VDC should be here in Western Michigan fairly soon, unless of course the recent snowstorm on the East Coast has stalled the process.

I think that adding the acquisition fee to the money factor makes sense as well.

Still thinking about adding the Safe Lease Protection. I'm pretty easy on cars and plan to use it primarily to go back and forth to the office, about a 20 minute commute each way. But still pondering...

Thanks again!

 

Not true for my lease and not true for any car I have ever leased.

Your annual mileage is what dictates residual value which is a key component in the lease calculation. Excess miles are charges at $0.20 per mile and I can see no way that they would CREDIT you back $0.20 per mile for every mile you are under allowance.

Maybe there is some special lease that they offer which has variable annual mileage but my guess is that you are paying for that privelege.

Anyone have specific knowledge of this sort of lease?

 

Really? That is not a standard lease term to credit for unused mileage. Are you sure the $400 credit wasn't just your security deposit being credited against wear and tear charges? That would make sense.

 

Midnight-

How did your lease work out? I have never leased but have always been curious. It never seems to make sense with my annual mileage. Are you happy with the monthly payment/ money down?

 

I'm pretty sure. They kept asking me what my mileage was. I was significantly under my allowed mileage though. I would suggest trying to get a Safe Lease if you can. But negotiate it down aggressively. They should be willing to deal.

 

The only credit per unused miles is if you prepurchase more than the standard 15,000 miles in advance.

 

I've been leasing cars since the late 80s as it makes sense for me. I drive less than 15K miles per year (lately less than 7500 miles) AND I want a new car every three years AND I don't want to tie up cash in a depreciating asset.

If you drive more than 15K miles per year OR you have any desire to keep the car beyond the lease OR if you like the idea of trading in your vehicle for something different than leasing is probably not going to work for you.

Not all cars are great for leasing. You want a car with a high residual value to make the lease work in your favor.

 

Anyone have the numbers on 24 Month, 10,000 mile lease? Thanks!

 

Post request for captive lease rates in the MINI leasing forums at Edmunds.com. The moderator Car_man will respond pretty quickly. This way you'll know the buy rate money factor and residual value. Understand that your credit rating will impact your ability to obtain the buy rate.

Also it is a good idea to get agreement with your dealer that they will write up your lease at the buy rate if you qualify. Most of us are paying MSRP or close to it and that provides good profit margin for the dealer. No need to shake us down on the financing too.