Hello,
New to the forum and soon to be Cooper owner.

On Saturday (5 days from now... WOO-HOO!) I will be picking up my new 2005 PS/BR Black Leatherette, Premium/Cold/Sport Package, CVT Cooper. The MSRP is $21,969. For business/tax purposes, I need to lease (so don't try to persuade me to buy). I'm putting $2500 down for a 36mo 12k/yr lease. The monthly payments the dealer gave me was $316/mo. He told me the money factor was .00255 and the residual value is 66%. I live in Brooklyn, NY where tax is 8.625%. Does $316/mo seem like a fair price?

I've done a few online lease calculators, and they all come out lower. Should I try to get him to go down? If so, based on these numbers what is a fair price?

Thanks for any help you can provide,
Nosoapradio

 

welcome to NAM! Love your screen name.There was a disc jockey on Boston station WBCN who used it as the slogan for his program.As to your question: you won't really know if it's a good deal until you do some shopping around.There are several very friendly dealerships listed as sponsor/venders here on this site.Start doing some telecom with some of the MA's (mini advisors) and put the qestion to them.I'll bet some of them may well get in touch with you via PM (Private message), as they are active participants on this site.Good luck!(and let us know how you make out as this affects us all)

 

The problem with leases is that they all have different parameters that make comparing them like comparing apples and oranges. For instance, the mileage allowance may differ - if you expect to put more miles than they specifiy, it is better to put that in up front rather than pay mileage fees when you cash out. Same with residual value - Mini's have the highest resale value in the business, so make sure that the estimated value at the end is fair in case you want to buy out the lease at the end and own the car. Only compare leases with the same mileage allowance and residual value and up-front fees when you compare price.