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    Thread: Lease on a Mini Countryman

    1. Member VR6JetPilot's Avatar
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      04-05-2012 06:46 PM #1
      i will probably purchase (2.9% currently available) but the salesperson emailed me the following lease numbers.
      seems high to me.

      MSRP $30,500
      Price $29,500
      36 mo/10k miles (miles is not an issue since my wife and i share 3 cars)
      $447/mo, $486 w/ tax included
      drive off $833.49
      Residual 59%, $17396.

    2. Member Tucci's Avatar
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      04-05-2012 07:07 PM #2
      Seems like an extremely high money factor since the residual is good.

      For comparison the 2013 VW CC has a really low MF and similar residual and you can lease a $34k Sport Plus for $409 + Tax Sign and Drive.

    3. 04-05-2012 07:46 PM #3
      Just doing the rough numbers, they are charging you close to 8% interest. You should be half of that tops.

    4. Member VR6JetPilot's Avatar
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      04-05-2012 07:56 PM #4
      thanks for the quick replies. that's what i figured.
      is this how salespeople usually start with a lease and expect some negotiating on the interest rate? or is this a take it or leave it?

    5. 04-05-2012 08:30 PM #5
      Quote Originally Posted by VR6JetPilot View Post
      thanks for the quick replies. that's what i figured.
      is this how salespeople usually start with a lease and expect some negotiating on the interest rate? or is this a take it or leave it?
      Unfortunately many times dealerships make it so hard to get money factor information unlike interest rates.

      Nobody buys a car without asking and knowing up front what the interest rate will be. Dealerships still want to pretend that the money factor is something that is reserved for their information only. If they will not plainly tell you what it is, walk. Another dealer will.

      We just leased a car for the wife. My position was that I wanted to know what the manufacturer was listing the money factor for. If the dealer was going to bump it, fine, that would be a deciding factor but I was going to know what the number was or I was walking.

      The local dealer lost our business in part because of this. I may be stating something you know but take the money factor and multiply it by 2400 to get the interest rate. .00157 X 2400 = 3.76%
      To be fair, the dealer we bought the car had no problem disclosing the rate (which I was able to verify) and they had the car we wanted. It was quick and easy from there.

    6. Member VR6JetPilot's Avatar
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      04-05-2012 09:06 PM #6
      Thanks again for the reply. I read a little bit on the 'how to calculate a lease' thread but it's always good to hear the numbers again. Since I intend to purchase, it's not a big deal but it kinda gave me this feeling that they're gonna try to screw me in the purchase somehow.

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      04-06-2012 09:19 AM #7
      Sales manager at a MINI dealer in Ohio here. Programs might be slightly different on the west coast but here in the Central Region if you worked that selling price with the lowest available money factor (0.00190) and a 59% residual you'd be at $472 per month including our tax of 6.75%. I'd say you're actually getting a pretty good deal.

      Let me know if I can do anything else!

      -Ken

    8. 04-06-2012 11:06 AM #8
      .00190 isn't real competitive today. The residual is very high though.

      I don't understand though. Figuring a 30,500 What is this, a Turbo AWD model? At 30,500 you should be able to do far better than 29,500 and using the numbers provided and come up with around $420.

    9. Member VR6JetPilot's Avatar
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      04-06-2012 11:10 AM #9
      Thanks for the confirmation Ken. Just reading Mini message boards, I've realized that there isn't much room to move on price on the Countryman. And our tax in CA is 8.75%

    10. Member VR6JetPilot's Avatar
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      04-06-2012 11:13 AM #10
      Quote Originally Posted by pknopp View Post
      .00190 isn't real competitive today. The residual is very high though.

      I don't understand though. Figuring a 30,500 What is this, a Turbo AWD model? At 30,500 you should be able to do far better than 29,500 and using the numbers provided and come up with around $420.
      It's a Countryman S w/ Xenon, sport package, auto, flat load floor, bluetooth and can't remember what else.

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      04-06-2012 11:28 AM #11
      Quote Originally Posted by pknopp View Post
      .00190 isn't real competitive today. The residual is very high though.

      I don't understand though. Figuring a 30,500 What is this, a Turbo AWD model? At 30,500 you should be able to do far better than 29,500 and using the numbers provided and come up with around $420.
      .00190 is the rate through BMW Financial Services. You could probably find a .00130 through US Bank however that would drop your residual substantially. Don't forget you'll need to factor in a $725 fee from FS and whatever dealer fees are in CA. It would probably work out the same. As for pricing on the car itself MSRP is a 9% mark-up over cost. Most MINI stores are still close to retail and, at least in my market, $1000 off is an insane deal.

    12. 04-06-2012 11:57 AM #12
      Quote Originally Posted by rodion_kjd View Post
      .00190 is the rate through BMW Financial Services. You could probably find a .00130 through US Bank however that would drop your residual substantially. Don't forget you'll need to factor in a $725 fee from FS and whatever dealer fees are in CA. It would probably work out the same. As for pricing on the car itself MSRP is a 9% mark-up over cost. Most MINI stores are still close to retail and, at least in my market, $1000 off is an insane deal.
      I figured my payment with the stated 1K discount. Even adding in another $1500 I do not get $480.

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      04-06-2012 02:28 PM #13
      Quote Originally Posted by pknopp View Post
      I figured my payment with the stated 1K discount. Even adding in another $1500 I do not get $480.

      Believe me, leases are hard to do by hand. Selling price of $29.500 and a $725 bank fee, figure $1,071.22 in Ohio tax gives you a Cap cost of $31,616.22. MSRP of $30,500 and a 59% residual gives you an end value of $17,995. Once you add title and license in Ohio you're at a tax-included montly of $472.62 based on a factor of 0.00190.

      Give it a try with those numbers and I'm sure you'll be spot on.

      -Ken

    14. 04-06-2012 03:23 PM #14
      Any way you figure it, the current money factor (not that there is anything at all you can do about that) would cause me to not do it.

      I wouldn't pay 2K over plus $750 either. If that is what dealer are getting though, great for them.

    15. Member VR6JetPilot's Avatar
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      04-06-2012 07:00 PM #15
      Quote Originally Posted by rodion_kjd View Post
      Let me know if I can do anything else!

      -Ken
      So Mini has a Graduate Program for an additional $500 off and I read on message boards that if you participate in the Test Drive Take Down, you may receive a $750 certificate towards a Mini purchase. Are these 2 combinable? If I wait a month, I should have both available.

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      04-06-2012 08:18 PM #16
      Quote Originally Posted by VR6JetPilot View Post
      So Mini has a Graduate Program for an additional $500 off and I read on message boards that if you participate in the Test Drive Take Down, you may receive a $750 certificate towards a Mini purchase. Are these 2 combinable? If I wait a month, I should have both available.
      You're correct. You can combine both of those offers. Just keep in mind that you have to have graduated less than one year ago (or you will graduate within 4 months) and you can't have ANY negative things on your credit report. So if you've ever missed a payment on a student loan or credit card or utility bill or if you have an outstanding library fine they'll turn it down.

    17. Member VR6JetPilot's Avatar
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      04-06-2012 10:38 PM #17
      i think they changed the terms on the graduate program to "you've graduated....".
      i was hoping to take advantage of it since i graduate next month but the lady pointed out it's been changed .
      thanks again for your help.
      i told my salesperson that if we split the difference, and takes off another $250, i won't wait til next month and will purchase the car.
      Last edited by VR6JetPilot; 04-06-2012 at 10:40 PM.

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      04-07-2012 04:09 PM #18
      I looked at leasing a Countryman in LA. The Calabasas dealer had a S with a 6MT that he was running a special on, which brought it down into the 380 range. Nothing else came close, but the drive off was high (almost $3K). Went with an Acura instead (not the usual cross-shop, admittedly), because the money factor was so much better.

      BMW just doesn't do well (IMO) with lease rates. Even a 2011 335D has a high money factor and it's a year old and no longer made. I love our Cooper, so it's not an anti-Mini thing. Just glad we bought the Cooper instead of leasing.

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      04-07-2012 04:53 PM #19
      Quote Originally Posted by sporksforall View Post
      I looked at leasing a Countryman in LA. The Calabasas dealer had a S with a 6MT that he was running a special on, which brought it down into the 380 range. Nothing else came close, but the drive off was high (almost $3K). Went with an Acura instead (not the usual cross-shop, admittedly), because the money factor was so much better.

      BMW just doesn't do well (IMO) with lease rates. Even a 2011 335D has a high money factor and it's a year old and no longer made. I love our Cooper, so it's not an anti-Mini thing. Just glad we bought the Cooper instead of leasing.
      FYI year old cars always lease worse than new cars. Same way with interest rates; they'll always be higher the older the car is. The only thing that can bring down the cost of a year old (but still new, untitled car) is a dealer or manufacturer cash discount.

      -Ken

    20. 04-07-2012 08:37 PM #20
      I've leased my last 5 cars. My advise for a very simple formula to judge if you got a good deal or not is to calculate the loan to value ratio. You can calculate this pretty easily. Although it is not a flawless system, it gives you a good idea where you stand.

      (1) You add the cap cost reduction (down payment if any) plus the acquisition fee ($600-$700).

      (2) Then multiply you monthly payment times the number of months in the lease (36 x $447).

      (3) Add the two numbers above together and DIVIDE by 36 (in your case).
      This is your true monthy payment.

      (4) You just divide this by the MSRP, NOT the sale price, and multiply by 100.

      This is your LVR. In your ase I calculated 1.46 LVR. Not good but not horrible.
      The current VW Tiguan S Deal has a 1.28 LVR for example.

      Anything above a 1.35 LVR is generally not considered a good deal. The closer you get to 1.00 the better. Usually Hondas can be had at this range, but occassionally there are deals to be had. Hope it helps. My 2012 VW Golf was a 1.28 LVR. Again this is just a simple way to see if you are getting a decent deal or not.

      Check out some current LVRs http://monthlycarlease.com/
      Last edited by daveg243; 04-07-2012 at 08:47 PM.

    21. Member VR6JetPilot's Avatar
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      04-07-2012 08:51 PM #21
      Quote Originally Posted by sporksforall View Post
      I looked at leasing a Countryman in LA. The Calabasas dealer had a S with a 6MT that he was running a special on, which brought it down into the 380 range. Nothing else came close, but the drive off was high (almost $3K). Went with an Acura instead (not the usual cross-shop, admittedly), because the money factor was so much better.

      BMW just doesn't do well (IMO) with lease rates. Even a 2011 335D has a high money factor and it's a year old and no longer made. I love our Cooper, so it's not an anti-Mini thing. Just glad we bought the Cooper instead of leasing.
      I've been to the Calabasas dealer but they had the smallest inventory and didn't have anything that I was interested in. Plus, they weren't very helpful so I left. The funny thing I read about the Countryman is that people cross shop against everything from small cars to SUVs.

    22. Member VR6JetPilot's Avatar
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      04-27-2012 02:45 PM #22
      in case anyone wanted an update, i ended up purchasing a new black countryman S. talked them down a few hundred more and received an additional $500 new graduate discount. since i found the countryman i wanted, i didn't wait for the additional discount for the take down test drive. special thanks to rodion_kjd for the info you provided


      MCSfront by cursor718, on Flickr

    23. Member CorradoMagic's Avatar
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      05-01-2012 10:15 PM #23
      I'm looking at leasing a Countryman S as well. The salesman has offered me $800 off the sticker + my options. The car is not on the lot, it has to be ordered.

      Since most MINI's are pre-ordered, does MINI still have a 'Dealer Holdback'? If so, they are guaranteed a profit even if selling at invoice, (not sticker)?

      Being that MINI operates a bit differently with 'pre-orders' does a dealer holdback apply/exist? if so, what is the % ?
      I realize this is the dealerships profit, not the salesman's.

      The current Consumer Reports Pricing Guide(which I regard highly as a reputable source) discloses the Dealer Invoice & actual Option Costs for all models.
      It appears the Factory 'Options' are only marked up minimally. The Invoice to MSRP on a Countryman S lists as $24,345 - $27,050
      .... plus destination, options, etc.

      My 'options' have a markup of nearly $800. I am aiming for a deal of aprox 3.5% over invoice($25,197), plus 'options' at the discount/cost price.
      This still leaves MINI with $852 'sticker' profit & *any dealer incentives/holdbacks.(*and possible accessory option profits of ~ $800)

      I'm pushing for an aggressive deal. Looking for some feedback here!
      TIA
      Last edited by CorradoMagic; 05-03-2012 at 03:09 PM.
      The DubNutz OEM & Performance parts in Long Island. Autotech, Quaife, ST, KW, Koni, Tein, JE, ClutchMasters, StopTech, Samco, Whiteline, TT, VF-E, Euro body accessories, TDN performance Mounts and lots more. Lowest Prices on ST Coilovers! ask

    24. Member CorradoMagic's Avatar
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      05-07-2012 02:28 PM #24
      ^ Bump
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    25. Member VR6JetPilot's Avatar
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      05-07-2012 10:26 PM #25
      i really don't know anything about dealer holdbacks but good luck on getting an aggressive deal. i went to 3 dealers around me and i didn't find any great deals. a few dealers i went to had some countryman S ALL4s that were in the $34k range and i was thinking that they would sit there for a while and i would try to lowball them for a good deal.....they all sold in a week or two.

      i heard that if you sign up for the mini take down (on miniusa.com), people have been receiving a $750 voucher towards a purchase of a new mini that you have to use before you take delivery.

      i must say that the car gets a lot of attention and constantly have strangers asking how we like the car, getting the from fellow mini drivers and even finding other minis parked next to us. good luck. check out northamericanmotoring.com for other mini countryman info.

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