My Take: Here are some more decent rates from the folks over at MINI. As expected, the residual value has dropped some since my post in November 2008 (about 5%). However, BMWFS did compensate by dropping the money factor a bit. I don’t think its enough to make it a better deal than November, but considering all the terrible leases I’ve seen this January, I think this one is actually still fairly good. The residuals will continue to drop til the 2010 models arrive and the money factors will fluctuate up and dow from month-to-month. If you are looking to catch a nice deal on a lease, research diligently. I compare this to playing the stock market or buying a home, you snap it up when you think its best. You won’t always catch the lower rates, so just go with your gut instincts.
Here’s a scenerio for ya. I equipped a Cooper S with Premium/Sport/Convenience/Aero packages + auto tranny + xenon lights for about $29,600 MSRP. With some haggling, I’m thinking a $500 discount could be attained, dropping the cap cost to about $29,100. At this price, a 36mo/10k lease would run me about $399 after taxes (8.25% CA tax). Not bad huh? At 12k miles per year, that payment goes up to $408 a month. Take off a few packages and you’ll see this number drop.
If you like the site and would like to receive my latest posts, please consider subscribing to our newsletter on a reader or have it delivered to your email. Got questions? JOIN the RIDE AUTO FORUM TODAY!
| At Invoice | At MSRP | |||||
| Make/Model | Invoice | MSRP | 24-month | 36-month | 24-month | 36-month |
| 09 Mini Cooper S | $20,405 | $22,600 | $247 | $244 | $343 | $310 |
NOTE: Estimates assuming the following conditions:
- Inception fees (1st month payment, DMV, doc fee, bank fee, tire tax and possible security deposit) will be paid at signing.
- Local Taxes not included.
- 24-month/15k and 36-month/15k terms.
- All cars are stock, without any options.
2009 Mini Cooper January Lease Rates
2009 Mini Cooper
24-month | 15k miles | residual 76% | .00229 base money factor
36-month | 15k miles | residual 67% | .00229 base money factor
48-month | 15k miles | residual 56% | .00229 base money factor
2009 Mini Cooper S
24-month | 15k miles | residual 73% | .00229 base money factor
36-month | 15k miles | residual 64% | .00229 base money factor
48-month | 15k miles | residual 55% | .00229 base money factor
2009 Mini Cooper John Cooper Works
24-month | 15k miles | residual 71% | .00229 base money factor
36-month | 15k miles | residual 62% | .00229 base money factor
48-month | 15k miles | residual 53% | .00229 base money factor
2009 Mini Cooper Clubman
24-month | 15k miles | residual 75% | .00229 base money factor
36-month | 15k miles | residual 66% | .00229 base money factor
48-month | 15k miles | residual 55% | .00229 base money factor
2009 Mini Cooper Clubman S
24-month | 15k miles | residual 70% | .00229 base money factor
36-month | 15k miles | residual 61% | .00229 base money factor
48-month | 15k miles | residual 52% | .00229 base money factor
Don’t like what you see? Visit Leasecompare.com and see what 3rd party banks offer!
G,
Where did you get these new BMW Financial rates from? I asked our Mini dealer about them and they said they have a 0.00259 on a Pre-Pay lease only. thx, joe
Joe, have you tried different dealers? the .00229 is the base rate, which 9 times out of 10, isn’t disclosed to potential lessees. BMW is notorious for bumping up the base rate on their leases. This may also vary depending your market. the rates posted here are bmwfs rates. maybe your dealer will be willing to share their published rates with you to reconfirm??
G,
So there is a base rate and the dealers can choose to mark it up?
So I guess this means that one needs to negotiate the rate as well as price. thx, joe
That’s correct, they almost always market it up. It is well within their rights to do so. Most BMW or MINI dealers I’ve heard of have marked it up. Some won’t let you have the base rate unless you have impeccable credit and put down a security deposit.