Hi. Newbie here with a question. I have been eyeing MCS convertibles for some time and have the opportunity to take over someone's 36 month lease. It is a 2006 S with Auto, Premium, Convenience, Sport, Cold, Chrono, leather, 2-piece web spoke wheels, and rear fog light. It has 23 months left on the lease and about 20,000 miles remaining. Is $505 a month (with CA tax) plus BMW Finance's $450 transfer fee worth it? (No money down.) Oh, it is Dark Silver with Black Panther. It has the black racing stripes which I plan to remove.

 

I don't know about the payments (haven't shopped around for leases), but I don't think I'd want a lease with less than 1000 miles/month left on it -- you'd be taking a lease with less than 10k miles/yr on it!! What fees would you pay if you went over?
What kind of miles did the lease initially provide. It sounds like the original owner got more than his "fair share of the miles" out of the lease before looking to transfer it -- if that's the case, I would ask that he give you a bonus for taking over the lease (at least that he cover the $450 -- but probably more).


Oh, and I would keep the stripes -- but that's purely a personal thing.

Edit -- frankly, you're paying almost $12k in 2 years . . . you can get a nice used MINI for $20-22k and if you still want to sell it in 2 years, you'll get more than the $8-10k for it --- so buying used seems to make more sense to me.

Edit 2 -- last comment: if you buy, you can mod

 

Thanks for your insights. True on the mods thing as I did want to put in the JCW airbox and maybe a 15% pulley. I usually put on about 2,000 miles per car--I have 5 now and really would only use the MCS for darting around the city on errands and maybe a trip or two to Napa or Monterey each year. I live in SF. I probably won't even hit the 36K mile limit. The benefit of the lease is that I won't have to worry about it at the end. I am not patient with selling cars.

 

I always buy cars. But it doesn't sound like you really drive each of your cars that much, so maybe a lease is better for you. It's the kind of car you won't want to see go when the lease is up, that's for sure. Once you've had one for awhile and you get acquainted with the community it would be very difficult to leave.

 

MINIFVR,

Thanks, I may not want to give her up. I typically do buy but having five cars now and the reluctance of selling any one of my babies is the issue. With the lease I may forced to relinquish the MCS. I have an addiction to keeping cars, however.

 

I know a guy just like you. He has 6 or 7 cars and he is always reluctant to make room for another. Good luck with it!

 

How much would it cost you to lease a new one versus taking over a lease?

 

According to MiniUSA.com it appears that a version as loaded as this for a 24 month lease with no money down and 10K per year was $742 without tax. Yes, I know...crazy! So I figured this was a good alternative--$460 without tax/ $500 with tax. It is for 22 months and I can decide if the new 2009 is any better by then, or I can release the 2006 MCSca or buy it out right.

 

If you had to have one the money difference would pretty much speak for it self.

 

Well, it looks like BMW Financial Services acts quickly. I sent in the app last night 1 am PT and got a reply of approval at 6 am PT.