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Re: Mini Cooper S lease, am I getting screwed? (Eric in DC)

Eric head over (or rather down) to the car purchasing forum. VeeDubDriver should be able to get you the money factors etc. on the mini.
Cheers
Chris
 

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Re: Mini Cooper S lease, am I getting screwed? (VWMike81)

That quote is terrible, I could have sworn a $24k Mini was in the mid to high $300's.
Anyway, I'm finding that most cars in the $25k area these days just pays to buy.....due to the low finance rates.
 

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Re: Mini Cooper S lease, am I getting screwed? (Eric in DC)

They quoted me around that same price a couple months ago through the MINI select program at 15k/year. But I ended up sticking with what I have.
 

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Re: Mini Cooper S lease, am I getting screwed? (CBJ)

Definetly negotiate to 15k miles a year. My lease payments are not much higher than what you were quoted @15k year (and I put nothing down except for the usual bs fees).
And yeah, Veedubdriver should be able to hook you up.
-Ash
 

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Re: Mini Cooper S lease, am I getting screwed? (DownShift)

Eric I would definitely talk to them about several factors like the lease buyout and the money factor on that piece. I realize that there is a completely different set of reasons to lease versus buy but for that payment you should almost be able to buy it over a five year period.
Good choice though! http://****************.com/smile/emthup.gif
 
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Re: Mini Cooper S lease, am I getting screwed? (Eric in DC)

Eric, which dealer is offering you this lease? And who's the salesperson behind it? There's a woman over at the BMW dealer in Arlington who is actually one of the top lease-leaders in the country, and she probably can give you a good deal.
 

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Re: Mini Cooper S lease, am I getting screwed? (speedracer3)

just my $.02...but...
as a vw salesperson, we have no control over the money factors and residual values that vw or other banks give us to work with. what we can mess with is our profit. I am not aware of how mini's are being sold...and don't forget that there may be a certain amount of profit hidden in the "back end" of a deal...such as glass etching or whatever else...
if all else fails, call around and ask! it never hurts to shop...
 

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my lease is like 425/month and I got it last year when the rates weren't nearly as good. I think that is a little high since i also get charged a monthly fee for service of 20 or something but I don't pay for any service that comes up for the entire lease period. Oh and I have a 15,000 mile /year lease not 12,000.
I feel I'm getting ripped and am thinking of trading in and buying a new one at 0% over 5 years which would be a cheaper monthly rate plus I would get more features. Only bad thing is I personally don't like the new WRX design.
I think its a rip.
 

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Re: Mini Cooper S lease, am I getting screwed? (Eric in DC)

MINI residuals and rates are as follows:
36 mos - 59% - .0022
39 mos - 54% - .0022
48 mos - 51% - .0022
Residuals are for 15K miles/year. Add 2% for 12K miles/year. These numbers are good until the end of the month.

The money factor is relatively high, but this is because BMW sees no reason to discount the rate on a hot selling car.
 

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Re: Mini Cooper S lease, am I getting screwed? (VeeDubDriver)

Plugging the numbers VeeDubDriver showed, you should be paying $372/month for the Mini, with 12k miles and if you actually paid MSRP for the car, and this one was with nothing down other than bank fee and security deposit and first month's lease, tax is in the monthly payments.
It sounds like you have no idea what you're doing, you're a monthly payment shopper who is about to get screwed over so bad that it hurts.....
I HIGHLY recommend reading the lease guide sticky on the top of the car buying forum, as well as getting some more information about how leasing works before they make you bend over big time.
Just as an extreme example I am "leasing" my A4 for $415 for 39 months 15K a year that had an MSRP of $32.5K.


Modified by GTakacs at 4:17 PM 7-16-2003
 

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Re: Mini Cooper S lease, am I getting screwed? (GTakacs)

If you are in DC, there is a 10% excise tax on top of the monthly payments, and that could contribute to the higher monthly payment.
Sounds like a rip off to me. http://****************.com/smile/emthdown.gif
 

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Discussion Starter · #18 ·
Re: Mini Cooper S lease, am I getting screwed? (Corradodrvrfnd)

I have to admit, I know nothing about leasing, especially a Mini. I'm in VA now, live here, work here. This particular car is in Richmond, the only Cooper S available as far as I know within 100 miles of DC. I'll find out the buy-out tomorrow. I appreciate all the suggestions. I just needed some numbers so I can negotiate.
 

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Discussion Starter · #19 ·
Re: Mini Cooper S lease, am I getting screwed? (VeeDubDriver)

Quote, originally posted by VeeDubDriver »
MINI residuals and rates are as follows:
36 mos - 59% - .0022
39 mos - 54% - .0022
48 mos - 51% - .0022
Residuals are for 15K miles/year. Add 2% for 12K miles/year. These numbers are good until the end of the month.

The money factor is relatively high, but this is because BMW sees no reason to discount the rate on a hot selling car.

Where do these numbers come from? I need to negotiate the dealer down.


Modified by Eric in DC at 6:35 AM 7-17-2003
 

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Re: Mini Cooper S lease, am I getting screwed? (Eric in DC)

These are the numbers from BMW Financial are are the numbers that your dealer will use since I think they have the best program right now for the Cooper.
 
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