I'm looking into leasing a Countryman S and I went to my dealer this week and was offered the following deal, and I just wanted to know if this is a good deal or not?

MSRP: $32,650
Selling Price: $31,250
Net Sales Price (after taxes, fees, trade-in): $33,950.52
36mo / 12K Lease: $549.67
No money down

Thank you for your help!

 

Have you checked out this website http://www.leaseguide.com/index2.htm? They have some nifty calculators.

 

well, that depends on if you're paying them to take your trade.

what are taxes in your state?

I paid about $1100 over selling price and had NO trade in.

Work it out like this:

Selling price: (forget MSRP. dont even discuss MSRP!)
Doc Fees: (should be zero or clearly explained. can be up to 400 sometimes)
Taxes (%): (3-10%?)
Title Fees: (should be available via your DMV website. ~$100-300?)
Registration: (same as above ~$50-100?)
finance room add-ons: (0-thousands but 0 is good)
total for all fees: (add up all of the above without the selling price)

value of your trade in:

then do this:

SALES PRICE
+ FEES
- TRADE IN
------------
Net price

here's an example:

Selling price: 31250

doc fees: say 400
Taxes: say 5% = 1562.50
title: say 200
registration: say 75

fees total: 2237.50

trade in value: 2000 (I dont know what you have to trade)

SALES PRICE: 31250
+ FEES: 2237.50
- TRADE IN: 2000
------------------
NET PRICE: $31487.50


So unless your state vehicle taxes, title, and registration are exhorbitant, and your trade in is a bicycle with a flat tire... no it's not a very good deal.

Furthermore, You could finance for 72 months at 2.9 (if you qualify) and own the car for 600/month.

 

Thanks y8s! My state's sales tax is 6% and I have $350 negative equity on the trade.

 

Are they really making you pick up the cost of $350? I think you can push that cost to them... $350 is pennies on the overall

 

First things first, I'd make sure that you're paying for options you want. $32k MSRP would have a certain amount of options, which most of the cars sitting on the lot tend to have. My wife and I are looking, and by building our own car we'll have a few thousand because we really don't need any 'comfort' options, but we're willing to pay for 'S' (but not ALL4, which also is very popular with cars already on the lot). Oh yeah, sunroof too. That's about all we're spending extra money for. The iPhone will just have to suffer playin music through the Aux port.

Now, it's okay to want an ALL4 with heated seats, Bluetooth, sunroof, upgraded stereo, etc. Just realize it costs. Even if a dealer tries to give you 'great deal' on a loaded model already there, that great deal isn't realistically going to be as cheap as getting exactly what you want.

The other thing I'd do is look at the cost to buy instead of lease. We found that monthly payments on a 5 year loan were about the same as a 3 year lease (within $20 at least). Obviously 3 years and 5 years are different terms and we'd be puting $5K down with the purchase), but on one you have to pay $13K to keep your car, or get a different one. At the end of the other set of payments you own a car you can sell, or keep without paying extra. We went in thinking we'd be leasing, but we're most likely going to buy now. Obviously, how you react to the different variables involved in financing will be different for everyone - but you still want to evaluate both at the dealer.

Also, the best way to make sure you're getting a good deal is to ensure the dealer knows he's competing with someone. The best option is another MINI dealer, since you could really present an offer he could match. With two dealers incolved, someone is going to want to get your business more than the other.

 

Sorry to say, bad deal! I'll go BMW Select compare to that lease offer - lower mo. payment, will not have to deal with mileage limitation, don't have to deal with all sorts of fees when the lease mature and you own the car...


just my $0.02 of the matter...

 

I got an email from mini saying....2000 off all4s 1500 off s through July...not sure if it's only my dealer though....

But...I got my all4 for under 29000..off the lot of course....bad deal

 

Which dealer sent you that email? Can you cut and paste it here? Thanks.

 

Ditto.

 

I second the idea of Mini Select. I am going that route and paying far less per month. We will do 60 months with mini select and will most likely keep the CMS afterwards for a few years.

My deal to help compare:
Trade in R50: Dealer is paying off, took a bit to get the numbers right but pulling KBB and comps helped.
I live in Oregon so no sales tax.
No documentation fee.
Title and Registration are about $80 due us transferring our existing plates (not sure if each state does that).
Putting $1000 down
Total CMS price is $31350 (MSRP)

Select Financing is for just shy of $30500, payments about $380. Ballon at end of about $11000. Will pay more as my practice / income grows to eliminated balloon payment.