Hey everyone, just trying to get a feeler on my '06. I work at a dealership and I have a tough time keeping cars for a very long time.

Specs:
2006 Mini Cooper S 11,200 miles
6 speed
Chili Red/Black Roof

Black Panther Leather
Antracite Headliner
"Seven" Black piano dash
Black bonnet stripes
Chrome line interior/exterior

Premium Package- sunroof
cruise control
mf steering wheel
auto air
obc
Sport Package- DSC
Xenons
fog lamps
17'' webspokes w/ perf run flats
Convenience Package-Auto dimming rear view mirror
rain sensors
auto headlamps
garage opener

LSD
HK Radio

Car does have to have the front windshield replaced due to sand damage. It is drivable, but when driving directly into the sun, the glare is magnified. The car's paint doesnt have any damage, other than a couple of small chips due to freeway driving. I will get pictures up later on tonight.

Lease assumption is available @413.54 a month. Since I work at a dealership, this is a buy rate money factor (for those who know what that is).The term just started, so there is about 46 months left, or I will sell it for $27,000.00.

Thanks for the look.
JR

 

..

 

What did it cost new? When I go to www.miniusa.com and configure the specs as detailed by your original post I come up with $27,850, which would lead me to believe that your buy it outright price of $27,000 with 11,200 miles, sand damage to the windshield, and a couple of small chips isn't such a hot deal.

Am I missing something? Are there other options, modifications, or special things about this car that forum members should know about that might influence them to take a second look? It may not sound like it, but I am actually trying to help you out -- most folks here wouldn't look twice at a used MCS that's priced virtually the same as new.

 

It actually cost $28,350 new, and I paid a grand over. Obviously I am not trying to recoup the overage that I paid, and I know that the value of this car is not where my payoff is. Preferrably, I would like someone to take the lease over, since $400 for a $30k car is pretty reasonable, especially with no money out of pocket. If I was to sell the car outright, I would have to take a loss to sell it for what someone would pay (if that makes sense). The chips in the front are not bad and I would replace the front shield if that makes a difference. Other than that, the car is solid. But thanks for the insight. Its appreciated.

 

Where is the car located?
What are the exact lease terms? (specifically the residual and annual mileage)
Have you checked with the leasing company about the exact procedure for an assumption?
Payoff?
Pictures?
It sounds like exactly what I'm looking for, so please don't take offense at the questions. It also sounds like you are grossly upside down and grasping at straws for a way out. While it may be what I am looking for, I am not about to pay anything near full MSRP for a used car, or get stuck with someone's prior debt, either.

 

My calculator may be wrong or I am missing something. But $413.54 per month, times 46 months (whats left on the lease) only comes out to $19022.84 total. That sounds like a Deal in my book. What am I missing?

Steve

 

Ooops!!! Nevermind. The residual. I need more coffee. I'm going to mow the leaves now.

Steve

 

The car is located in Southern California, near Palm Springs. Its not like I hate the car and want to get rid of it. I love the car. The car is great. But if I could share the Mini love and help someone else get one for cheap payments, why not? I would just end up getting another Mini anyways. Probably a GP, since it seems that they are obtainable. The residual value of the vehicle is $14586.00 and the annual mileage is 12k per year. There is about 46 months left. I actually just re-leased it, since the car was originally in my wife's name, and she was getting put away with the interest rate. I put it in my name so I could get a buy rate deal, which means I pay the least amount of interest the bank could offer. Out of the base payment, which is $383.80, about $290 of that goes to principal. I'm not really sure that the payoff is as of now, but if you are going to assume the lease, does that really matter? My guess would be that the payoff is somewhere in the $27k range.