I *want* an MCS, of course....but I'm having abit of a budget issue with that one, so I have a JustACooper in production.

I'm planning on doing the 2-year lease thing, and then trade up, so to speak, and buy an MCS.

Does this sound like a brilliant idea, or should I just buy the thing, and trade it in in two years?

 

Highly dependent on your personal financial situation, and how often you like to buy new cars.

Me: I like to buy a car, pay it off fast, have no car payment for a long time, and ride the car into the ground.

Some people like to re-up and get a new set of wheels every 3 years. To each his own. Just run the math.... do you want to be paying on the MC then MCS for however long? Maybe you can just get some minor upgrades on the MC and ride it for 200k.

 

Well, it always depends if it's the *right* car.

I'd prefer to buy a car I love, and keep it forever. I managed 17 years with my 240z, but an accident sadly ended that. I'm driving an Element now, which is a nice car, and has shown me the merits of things like doors that completely seal, and air conditioning....but, I don't love it.

Now, I have nothing but good signs so far that this is the kind of car that I'll love. But, I want to be sure, thus the plan. I just wondered if anyone had any thoughts on the relative merits of a two-year lease and walk, versus buying and trading in.

If I lease, I have low payments. If I buy, I have trade-in value at the end. I know it's probably one of those "It's all up to you" sort of things, but I felt the urge to babble about it.

 

With the current demand of the Mini, and the fact that they get AMAZING resale value, I'd just go with traditional financing if I were you. In 1-2 years, if you want to upgrade to an S, you might even be able to get 100% of your money back that you paid for the car if it's in good condition. Thats not unheard of these days.

 

Do you need to put a down payment for the lease option? If so consider that money lost.

Ultimately you really need to breakdown the numbers for cost to own vs lease for 2 years and determine which will be cheaper. Use the blue book value for an 06 if you want to get a ballpark resale value for a 2yo Cooper.

This is decision that really requires looking at the numbers because the numbers will never lie no matter which choice "feels" or "looks" better.

 

Good idea...Car Lust blinded me for a bit there. (I suppose that's actually a good sign. )

A bit of research, both at various dealer sites, and some blue book research, seems to come down strongly on the side of buy. While I realize there's no guarantee for it to continue, at least currently it's looking like a 2-year old Cooper loses almost zero value on average.

That's uhm...wow.

 

I'd do the math like BostonJohn suggested. You may find outright ownership a better deal, so take out the old calculator, slide rule or whatever you like to use.

 

Well that is on AVERAGE.
I buy my cars and drive the wheels off them so I do not like leasing.

However, if you are certain you want the car for only two years a lease makes the terms very certain. Who knows what the demand for MINI's will be in two years.

Look at what happened with the PT Looser. When it came out you had to pay a premium for one, but two year later they had big discounts on them and resale was bad.

Not likely for the MINI based on its history, but food for thought.

 

Well, I treat my cars nice. I'm always under 10k/year.

I think I'll risk the buy. After all, at worst I just keep it.

 

Need more info. What numbers are driving the maths?
Generally better to buy a Mini rather than lease. Really hard to make the maths work out the other way.

 

As a new cooper owner, I just looked into both options. If I would have done a 3 year lease with nothing down, the payment was ridiculous! They are currently charging over 20% finance charge to lease the car compared to about 5 to buy. I figured that after 3 years I would buy the car out but the numbers added to 5,000 over the sticker price if I woud have gone that route! Buy the car. Best decision I have made it's been 8 days and I can't seem to wipe the grin off my face

 

lightly used, and own it > new leased

 

Two years? Same year! Krut is on his 9th MINI since 2002!

 

Why hold back? IF the MCS is what you want, get it.

Life is to damn short!!!!