I'm pretty new to this forum and was thinking about leasing a MINI Cooper S. Was wondering what some of you have leased your Mini Cooper S for? (Price/monthly payment/due at signing/miles per year)

 

Yes, I would also like to know what kind of deal everyone has been receiving through Mini's leasing options.

 

Instead of leasing, I chose "Owner Choice" which is similar to lease but the only advantage is that car is under my name as well as car's title. At the end of the Owner Choice lease, I can return the car, buy it or refinance it.

My "Owner Choice Lease" numbers are as follows in state of IL: $559 per month for 24 months lease with 15,000 miles/year, $1,000 down payment, and $500 security deposit (refundable at lease end). So, the total amount due at signing was $1500 which included security deposit.

My total price for 2008 MCS was about $28,000 (out the door, including packages-accessories-etc).

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which package and accessories did you go with?

 

this is just me but atleast go with owners choice so you dont have to give up your baby if you dont want i could never give up ziggy

 

I just leased a 2009 JCW with $30.3k sticker price with $0 down, max MSD's ($3200 out of pocket, returned at lease end), all taxes and fees rolled into the lease, 36 months, 15k miles/year for $395/month.

 

Could you please share what your residual and base money factor was.. and what your final money factor was after the msd's? Also, did you have any accessories that could not be residualized (ie: JCW Body Kit), or did you just do a base JCW with no added accessories? Thanks.

 

Residual was 66% for 36 months at 15k miles. MF was .00225 (middle credit score range, not in the elite 740+ range since I'm only 22 and have loans outstanding - base rate for top credit is .0022....not a huge difference). After max MSD's it was .00176. Selling price was below MSRP which reduced payment ~$25/month as well. I did not have any dealer added accessories. They are throwing in sport stripes and mats for free, but they were not put on the lease price. My options were cold weather package, cream white color line, leatherette, MFSW, rear fog lights.

 

Thanks for the info. I was figuring there were no added cap cost accessories in your deal, which would allow you to get that lower payment. Too bad, mini doesnt allow all their accessories to be residualized .

 

With Mini's such high resale value there's no reason a lease should cost more than $99/month

 

Given that if I had financed to buy with $0 down I'd be paying ~$580/month on a 5-year loan, I think I did pretty well on the lease and always have the option to buy out at any time.....plus I can write it off being self-employed.

 

I don't believe there is an "owners lease" option here in California. Too bad. I think I might just have to go with leasecompare.com however they don't have rates for 09 models yet.

 

The BMWFS rates for 09 are great, at least for the JCW. You can't beat 66% on a 3-year lease with 15k miles/year. 98% of all leases I've ever seen don't have this residual on 3 years/15k miles. The MF isn't bad either, equals out to like 4.1% with max MSD's.

 

wow 395/month is nice. seem like the two mini dealers i have called here in florida and giving high numbers. 1K down 36months/15k per year $444 (25,000 MCS). Another said 2900 down 36months/15k $460. Was wondering how your guys are getting these great deals

 

Their numbers are high because they're probably marking up the interest rate to 7-8% instead of 4-5%. They use it as part of their profit. Do some research on leasing, understand the terms and variables, and NEVER put money down on a lease. You're much better off putting down multiple security deposits (that you'll get back later) to lower the interest rate, and effectively lower your payment ~$30-50/month.

 

Ya i know their some hiden numbers. every dealer i call tho seems not very happy about selling there mini's. Seem like there is no counter offer to their cars. I'll call and tell them what kind of MINI i want which is MCS and so and so. They'll call back later is give my high numbers and then i'm like wow these numbers are high and there like thats how it is. No saying oh what kind of payment are you looking for or anything.

 

wj94 i saw you said ($3200 out of pocket, returned at lease end), how did you do that? so basicly zero down.

 

Read up on maximum multiple security deposits from BMW financial services. Basically, for every additional security deposit up to 7 of them, you get ~.15% off the interest rate. Adds up to a significant savings. At $400 per security deposit, 8 security deposits is $3200. My only out of pocket other than that at signing is first month's payment.

 

I leased at the end of April.

MCS $26,150 MSRP, MF 0.00230, residual was 75% on a 2yr/10k lease. Those numbers may have changed slightly but it should be good enough for a ballpark.

Deal was $389/month for 2 years.

As above, I did multiple security deposit (7 * $400) and that was it down aside from title/tags.

The ONLY time it is worth putting any money down is if you're close to a $50 boundary and want to drop under where you are putting down MSDs (ie: your calculated payment is $401 - put some money down to get under $400 so the security deposit is $400 and not $450).

Cheers,

John.

 

wow i've never heard of these multiple security deposits. So do i just tell a dealer that i want to get multiple secuirty deposits. How did you guys deal to get these kind of payment at the dealer? or bank?

 

Multiple security deposits are (AFAIK) only offered by BMW/Mini FS. So, the dealer is your only place for this.

Security deposits affect the money factor.

If you're a first time BMW/Mini customer, you need to make a security deposit. This can be waived but there is then a MF adder that goes onto the MF.

Once you have the base security out of the way, you can put up to 7 additional security deposits down - each gives 0.0007 off the MF up to a total of 0.0049.

I've also heard that MSDs aren't available in every state.

Cheers,

John.

 

Does anyone know the current base lease rates of the mini cooper S and residual on 15k per year

 

http://forums.roadfly.com/forums/fin...9020828-1.html

 

I didn't use MINI financial. I leased through ACS leasing (leasecompare.com)
The MSRP on my 08 MCS was $24,800.
36 month lease, $2400 down, my payment is $310.
The dealer initially quoted me $338 a month.
Their website has an online worksheet where you can figure everything out.

 

Thanks invaliduser. Minimizevt how did your transaction with lease compare go like what were the steps you took with leasecompare. And what did you tell the deal? Did you just nego. the price of the car at the dealer ship?