I'm about to pick-up a Cooper for a 2nd car.
What do you guys think about the lease special posted on Miniusa?
Thanks.

 

I don't think it's an amazing deal or anything. It looks like it would cost a little over 10k after 3 years to lease which is about half the price of the car to buy. With MINI's strong residuals, maybe it would be better to buy. Plus you only get 1 package + automatic and the standard color options which seems limiting to me.

Then again, I guess it's a bit cheaper than normal rates, so maybe it's good if you must lease.

 

That's only a sample lease... you can lease any configuration that you want.

Yes, you are paying about 45% of the price of the car over those three years... but this includes interest too. However, consider a few other factors before making a decision that is not a good deal:
-Unless you are considering paying cash as the alternative, keep in mind that you will pay interest on the approximately $21,000 that you would have to pay. Even at the 3.9% for 60 months, this is not insignificant.
-To have a $250 finance payment you would need a large down payment... which the lease does not require.
-Resale value... MINIs typically do well, but there is no guarantee that the MINI will be worth around 55% in 3 years. It likely will, but with the lease you take zero risk.

Factoring all of these together... if you want a cheap 2nd car, I think that the current lease programs make leasing a MINI a good option. You get a new car with full warranty, very little cash out of pocket and a low monthly payment.

 

I just leased my first mini. I actually pick it up next week. My 3 year lease for my 06 acura rsx is up and let me tell you that the payment I have with the mini is LESS than my crappy acura! I'm getting an 09 S! the rsx has no options pretty much. All I have is leather and they are getting $50 more a month. Plus the maintence on the mini is free for 3 years! Yeah you pay about half but with all my leases (this is my 3rd), they have all been the same. I always lease and so does my mom with lexus. I like to lease because I get bored with cars and like to test everything that sparks my interest. who knows, maybe this will be the first of many mini's in my future. but all in all I like to lease and find that you save more money than if you were actually buying the car than sell it. let's say the mini has 12g left if you wanted to buy it, who know's if you'd actually get that price if you were to buy it and sell it.

lease

 

Hi

Anyone got this special lease program?

Website says $999 cash due at signing (excludes tax, registration and dealer fees).

Dealers in California say about $1800 cash due at signing. What does the extra $800 consists of?

 

$800 will include a DMV fee (unavoidable), Dealer Fee (******** fee)

 

http://www.ridewithg.com/index.php/2...009/#more-1895

 

I believe the extra $800 funds the barrel that we're bent over in Cali.

 

Typically a drive off lease in California should cost you $700-900. I looked into leasing a MINI prior to buying a demo. They (Crevier) included a $1000 markup for permanent wax. Which is basically the new undercoating. If you push hard enough you can probably get them to remove it.

I ended up buying because the residuals changed in June 09. In May the residual on a Cooper S was 60%, in June it dropped closer to 50%. The banks are tired of getting burned.

 

It's actually an awesome deal. They are using some pretty high residuals this month.

A cooper on a 3 year lease with 12k miles per year has an amazing 70% residual. This means you pay for 30% of the car over 3 years.

A S model is around 66% for the same terms.

 

anyone know what the JCW lease terms/rates look like?

 

What is the money factor? That will tell you how much interest you're actually paying.

 

Hi everyone,
I do think it is a good deal, probably becuase I just took advantage of it! I just lease a 2009 Laser Blue MCS with a few nice options that had a MSRP of $25,300 with a total drive off of just under $1900 and my total monthly paymest is just over $302 per month. Now on the same day my wife purchsed a 2009 MC that was pretty much the basic package (but still very nice) and had a $19,700 msrp, her total down was $1600 and her monthly payment are $380.00/mo for 60 months with the special 3.9% financing. Hopefully this will help others decide ;-)

 

.0023 on the S not sure about cooper. It's lower than MINIs normal MF.

 

The owners choice program is a bit different than a lease in respect to tax and valuation I believe.

In any case, I've leased and owned, results are always the same, I have a car payment.

1.9% is a pretty good rate