Hi....Getting back into a Mini and found a JCW that fits the bill! What do you all think of the numbers?


MSRP $36,415
Selling price: $34,415 (discounted $2K)
Added accessories: Paint and interior protection and maintenance agreement $295 and $695
Rebates: $1,000
Out of pocket total: $2,500 (Lease is in Texas so taxes are upfront, and on MSRP of vehicle!)
3 years and 10K miles a year
Residual 59% (JCW do not have great residual values it seems)
Money Factor: .00112
Monthly payment taxes and all: $397

Thanks for your input.

 

[QUOTE=AliH;4268022]Hi....Getting back into a Mini and found a JCW that fits the bill! What do you all think of the numbers?


MSRP $36,415
Selling price: $34,415 (discounted $2K)
Added accessories: Paint and interior protection and maintenance agreement $295 and $695
Rebates: $1,000
Out of pocket total: $2,500 (Lease is in Texas so taxes are upfront, and on MSRP of vehicle!)
3 years and 10K miles a year
Residual 59% (JCW do not have great residual values it seems)
Money Factor: .00112
Monthly payment taxes and all: $397

Enter all your numbers into the lease calculator at LeaseGuide.com or a similar site and this will give you a solid understanding of all the moving parts of your deal.

There is about an 8% spread between MSRP and invoice on MINIs. It looks like you are getting a bit over 5% discount on a JCW, before the rebate.

Just make sure the rebate is put into the deal correctly. And yes, you have a bit of additional front end expense due to Texas tax policy, which will increase your drive off.

For more than you ever wanted to know, see the thread on the art of the deal in F56 Hatch Talk: https://www.northamericanmotoring.co...-the-deal.html


Congratulations on your new MINI!

 

I assume you are purchasing the protection plan and maintenance agreement on a 36 month lease because you don't want to worry about getting dinged at lease-end. You will be under warranty for the entire lease, so you may want to really take a close look to see if you need the extra protection you are purchasing with these plans.

Most likely you will need to purchase new tires as MINI is picky about lease returns when it comes to tires. But the tire n wheel plan MINI offers DOES NOT cover cosmetics, so it is rarely a good deal. What many of us do is buy a set of good tires and enjoy the ride and stick the factory run flats in the garage and then re-install the run-flats at lease end.

 

AliH:

You may want to double-check on how sales tax is figured in your deal. In your OP you state that sales tax is on MSRP. You might want to research that further as sales tax is usually based on selling price (CAP Cost) of vehicle.

 

For the record the only $1000 rebate I see currently being offered is on 2016 models, not 2017's. Doubt that matters much on a lease.

 

$1,000 matters on a lease. It adds almost $30/month to a 36 month lease.

 

I would think/hope they would allow you 12k miles/year as that's the warranty amount of miles (36k). I have a friend who went over his lease miles and he said it wasn't pretty what they charged him. And no, Minis don't hold their value well. I got 25% of what I paid for mine as a trade after 7 years.

 

Thank you all for your feedback....Just got home this evening with it! I went for it...Not a bad deal I think. I also got the JCW Pro Exhaust and Carbon tips included!! I ended up putting a little more down to offset the cost of shipping the car (the car is from another dealer out of State).

The additional $695 is the extra for maintenance...Oil and basics already covered in lease but this extra includes brakes/rotors and additional items.

 

Can't wait to see what you're getting. Congrats.

 

Honestly, if you got anything over $1k off a JCW, you got a good deal. Regardless, a sub-400 payment on a JCW is stellar.

Something you may want to consider is MINI's lease protection coverage - coverage for up to $5k of damages, including the replacement of tires at lease end, or a windshield, too.

 

Brakes are covered under my new car 3yr/36k warranty. I was surprised to see that actually. But it's not likely you'd need brakes until about 50k miles. You only get 30k in the 3 year lease.

 

Completely agree. Brakes are covered and everything else under the initial maintenance program.

I always buy my cars but I am sure that under a 3/30 lease agreement, to buy any other maintenance plan is a waste of money.

 

At least in the US, brakes are no longer covered under the free maintenance plan. I think it's pretty much limited now to a couple of oil changes and maybe spark plugs if you squeak in before 36K miles.
I read elsewhere that JCW's eat up rear brake pads in as little as 12K miles. The traction control, electronic LSD, and active cruise control all use the rears so it can add up fast depending on how you drive.

 

Maybe they changed it but brakes are included in coverage on my 2014 JCW. I read the coverage on the sticker the other day and was surprised. Wish the tires were covered, they lasted 16k miles!

 

It's much less comprehensive than on R series cars. I believe they were going to do away with it completely but MINI USA got the reduced plan as a compromise. AFAIK, BMW/MINI is the last European manufacturer to offer a free maintenance program of any kind. Audi and Mercedes have pre-pay plans but their free plans have been gone for years. Porsche never offered one.

 

Be careful - on MY2017+ MINIs, wear and tear items are no longer covered by the maintenance plan (clutch, brake pads/rotors, wiper blades). It will basically just cover oil changes and air filters. They do have a extended maintenance option that will add the wear and tear items back for 3yr/36k+ for a cost.

Oh, and the maintenance is no longer transferable either - only between household members (i.e.: dad passing MINI down to son)