2009 OC Auto Show

I was on hand at the OC Auto Show this weekend browsing through the latest and greatest from a handful of manufacturers. It was somewhat disappointing to see that some big name brands didn’t show up, but then again I can’t really blame them. Come November, the Los Angeles Auto Show should be in town, so there isn’t much of a spending that kind of money to promote your vehicles twice in the same market. Nevertheless, the OC Auto Show was solid because it was not too crowded and I got to hope into practically every single car. Hopefully, you took advantage of the free ticket I posted on the previous OC Auto Show post. I ended up realizing that the ticket was only FREE for Thursday and Friday. For Saturday and Sunday, it gives you a 50% discount for up to 4 tickets; still a pretty good deal.

For those who have never been to the OC Auto Show, this is a much smaller venue compared to the LA Auto Show. The most notable absentee was Mercedes Benz. I found that to be somewhat strange considering BMW, Audi, Infiniti and Lexus put up some seriously strong showings there. Now the highlight of the show was probably Saturday’s Hawaiian Tropic Bikini contest. Unfortunately, by the time I got there, the crowd had gotten pretty big and it was hard to see much of anything. I also happened to be with my wife, which pretty much explains why I didn’t get to see anything as well. Nevertheless, I did bump into some rather attractive booth girls and there were a few bikini models did roam around the show taking pictures with attendees.

Now lets go back to the cars shall we! 🙂

Acura: The fellows from Japan had the usual lineup, TSX, TL, RL, RDX and the MDX. They also brought in the production ready model of the ZDX, which looks looks like an oversizedd futuristic sports car with 4 doors and a big trunk. My biggest complaint? The color. Why on earth would you debut a production ready vehicle in a crappy brown color?! Great car, crap color.

Audi: Audi brought in all of their cars in glossy white and left the LED lights on to add to the COOL factor. Too bad they put the price tag on these cars too. Talk about sticker shock! One of the most surprising things about the A5 is the trunk space, its freaking HUGE for a coupe.

BMW: The BMW section was a bit bland. I didn’t spend much time there, but I did get the wife into a M3 and she loved the supple leather seats. Her direct words “wow, the leather feels nice”.

Buick: Buick showed off the new Lacrosse and that’s about it. It looks very Lexus-like. Why not just buy a Lexus?

Cadillac: They showed up the CTS trims and their new concept coupe, the Converj. They had this lady presenting the vehicle and talking about design philosophy, etc…then she asks “Do you have any questions? Like when its coming out or how much it will cost? Well it’s not coming out, so there’s no price for it”.

Chevy: Chevy brought out the big guns by displaying a full-sized version of Bumblebee of the Transformers. They even brought in an Autobot-branded Camaro to post next to it. Then my wife and I stood next to them and posted with them. LOL. It was quite entertaining. GM also brought out some of their high-end Corvettes and Camaros and displayed the Stingray Concept; VERY awesome looking as you can see.

Chrysler: Yawn…

Dodge: Double Yawn…

Ford: Probably the biggest disappointment for me was 2010 the Ford Taurus. That center console is freaking MASSIVE! I felt claustrophobic in there and that’s a pretty big car. Not only that, the plastic interior panels reminded me of BouncewithB’s company car, the Dodge Nitro. I could literally PUSH some panels in exposing huge gaps between them. You won’t see that in an Audi A6.  I spent about 5 minutes sitting next to this British guy inside the Taurus and all we did was whine about how Ford has disappointed us yet again.

GMC: Nothing too exciting, just the usual suspects.

Honda: The only  “exciting thing” was their hydrogen powered car that I’ve seen three times already.

Hyundai: Wife really liked the Genesis Coupe and proceeded to diss my G37 as having a “BIG BUTT” compared to the Genesis. How RUDE!

Infiniti: Wife, again tried to make me feel good by telling me the Moonlight White on the EX35 is much better looking than the Ivory Pearl on my G37. Gotta love her. 🙂

Lexus: New HS looks like a bigger more expensive high-tech Prius. Sat in the IS-F and I have to say that that car feels way too cheap inside for a Lexus.

Mazda: I noticed all 2010 model have the massive fish-lip that the 2009-2010 Mazda3 and Mazda6  came out with; yup, that includes the RX8.

Mercedes Benz: A no-show. Lame.

MINI: Sat inside the Clubman with the wife at the wheel. She proceeded to feel claustrophobic (like I was in the Taurus) and jumped out. Looks like we’re not getting a MINI after the TSX.

Nissan: I don’t think I made it there.

Subaru: Took a few pics of the STi. Good looking hatchback if I do say so myself.

VW: The new Golf / GTI are out and they look much better in my opinion. I would probably consider a 4-door GTI as my weekend car since its compact yet has more cargo room than my G37.  I spent some time looking at the Tiguan as well. My folks recently picked one up so I wanted to see what it was like. Its not the most luxurious car out there, but its well-built and has a nice interior.

Volvo: The new S60 and the C30 looked better in person. Their new crossover SUV XC60 looks wicked with dark tinted glass. I still wouldn’t lease one yet since I still remember my sister’s horror stories about her S70 back in the day.

Anyway, I would go on and on about the show, but I’m sure you guys want to see the pictures, so here you go!

2009 MINI Cooper Lease Rates – September 2009

logo_miniUpdate: 2009 model lease rates updated. Really not a bad time to lease one. The MF is a bit high, but so is the residual, so its ok. My Take: I find it kind of weird that the 2010 rates are a bit lower than the 2009 rates on the Clubman. Is MINI trying to be more “realistic” with their residual values for the upcoming model year??? I could be wrong, but it is starting to look like it. You probably can’t order 2009 MINIs anymore, so I suggest looking at any remaing 2009 and snagging them as soon as you can. If BMWFS really decides to bring down the residuals, MINI for the 2010 model year will get that much pricier.

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2009 MINI Cooper

2009 Mini Cooper Coupe
24-month | 15k miles | residual 64% | .00223 base money factor
36-month | 15k miles | residual 62% | .00200 base money factor
48-month | 15k miles | residual 48% | .00223 base money factor

2009 Mini Cooper S Coupe
24-month | 15k miles | residual 61% | .00223 base money factor
36-month | 15k miles | residual 60% | .00205 base money factor
48-month | 15k miles | residual 46% | .00223 base money factor

2009 Mini Cooper John Cooper Works Coupe
24-month | 15k miles | residual 58% | .00223 base money factor
36-month | 15k miles | residual 52% | .00223 base money factor
48-month | 15k miles | residual 43% | .00223 base money factor

2009 Mini Cooper Clubman Coupe
24-month | 15k miles | residual 63% | .00223 base money factor
36-month | 15k miles | residual 61% | .00210 base money factor
48-month | 15k miles | residual 48% | .00223 base money factor

2009 Mini Cooper Clubman S Coupe
24-month | 15k miles | residual 62% | .00223 base money factor
36-month | 15k miles | residual 60% | .00220 base money factor
48-month | 15k miles | residual 47% | .00223 base money factor

2009 Mini Cooper Clubman John Cooper Works Coupe
24-month | 15k miles | residual 59% | .00223 base money factor
36-month | 15k miles | residual 52% | .00223 base money factor
48-month | 15k miles | residual 43% | .00223 base money factor

2009 Mini Cooper Convertible
24-month | 15k miles | residual 59% | .00223 base money factor
36-month | 15k miles | residual 54% | .00223 base money factor
48-month | 15k miles | residual 46% | .00223 base money factor

2009 Mini Cooper Convertible S
24-month | 15k miles | residual 59% | .00223 base money factor
36-month | 15k miles | residual 53% | .00223 base money factor
48-month | 15k miles | residual 45% | .00223 base money factor

2009 Mini Cooper Convertible John Cooper Works
24-month | 15k miles | residual 56% | .00223 base money factor
36-month | 15k miles | residual 51% | .00223 base money factor
48-month | 15k miles | residual 42% | .00223 base money factor

2010 MINI Cooper

2010 MINI Cooper Clubman S
36-month | 15k miles | residual 59% | .00250 base money factor

09 MINI Cooper Lease Rates – July 2009

logo_miniMy Take: Looks like MINI is shying away from the 24-month leases by dropping the residual close to a 36-month lease. It’s no question that the sweet spot is the 36-month lease, specially with the residual value this strong. I have to say that I am pleasantly surprised how the leasing world has began shaping up after the major credit meltdown we had last year. Sure, the $400 a month for $40,000 car leases are pretty much gone, but I was expecting things to get worse with GM, Ford and Chrysler getting out of the leasing market. Anyway, MF still a bit high, but the residual is so high that it easily offsets the money factor. This is not a keeper at lease-end though, so just turn it in.

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2009 MINI Cooper

2009 Mini Cooper Coupe
24-month | 15k miles | residual 67% | .00233 base money factor
36-month | 15k miles | residual 66% | .00230 base money factor
48-month | 15k miles | residual 51% | .00233 base money factor

2009 Mini Cooper S Coupe
24-month | 15k miles | residual 63% | .00233 base money factor
36-month | 15k miles | residual 63% | .00225 base money factor
48-month | 15k miles | residual 48% | .00233 base money factor

2009 Mini Cooper John Cooper Works Coupe
24-month | 15k miles | residual 59% | .00233 base money factor
36-month | 15k miles | residual 53% | .00233 base money factor
48-month | 15k miles | residual 44% | .00233 base money factor

2009 Mini Cooper Clubman Coupe
24-month | 15k miles | residual 66% | .00233 base money factor
36-month | 15k miles | residual 63% | .00230 base money factor
48-month | 15k miles | residual 50% | .00233 base money factor

2009 Mini Cooper Clubman S Coupe
24-month | 15k miles | residual 64% | .00233 base money factor
36-month | 15k miles | residual 62% | .00230 base money factor
48-month | 15k miles | residual 48% | .00233 base money factor

2009 Mini Cooper Clubman John Cooper Works Coupe
24-month | 15k miles | residual 60% | .00233 base money factor
36-month | 15k miles | residual 53% | .00233 base money factor
48-month | 15k miles | residual 44% | .00233 base money factor

2009 Mini Cooper Convertible
24-month | 15k miles | residual 62% | .00233 base money factor
36-month | 15k miles | residual 57% | .00233 base money factor
48-month | 15k miles | residual 48% | .00233 base money factor

2009 Mini Cooper Convertible S
24-month | 15k miles | residual 61% | .00233 base money factor
36-month | 15k miles | residual 55% | .00233 base money factor
48-month | 15k miles | residual 46% | .00233 base money factor

2009 Mini Cooper Convertible John Cooper Works
24-month | 15k miles | residual 58% | .00233 base money factor
36-month | 15k miles | residual 53% | .00233 base money factor
48-month | 15k miles | residual 44% | .00233 base money factor

09 MINI Cooper Lease Rates – June 2009

logo_miniUPDATED Clubman S added! Still looking for the convertibles.

My Take: Yup, it’s true, your eyes are not deceiving you. The 36-month residual for the MINI Cooper is in fact 68%. As a matter of fact, MINIUSA is pitching a “limited-time” deal right now where you can get into a MINI Cooper for $500 drive-off and $249 a month (plus tax). The Cooper S on the other hand, doesn’t get any of that love, but is still a very strong lease. I get the feeling BMWFS is going to get shafted in 3 years for fattening the residual up so much. Whatever you can to stay afloat, right? MINI’s are NOT lease-to-buy candidates due to the high residual value. You need to simply lease and return these, so make sure you do not exceed the miles. You also don’t want to trade these in because you will more than likely lose have a lot of negative equity on them as well. Just lease and return. Or you will regret it. Remember to negotiate the sale price on the MINIs, if they are desperate enough to mess with the residuals, then they are desperate enough to make a deal.

2009 MINI Cooper

2009 MINI Cooper
36-month | 15k miles | residual 68% | .00230 base money factor

2009 MINI Cooper S
36-month | 15k miles | residual 64% | .00230 base money factor

2009 MINI Clubman S
36-month | 15k miles | residual 64% | .00230 base money factor

09 MINI Cooper Lease Rates for March 2009

logo_miniMy Take: Bummer. The Cooper S went up nearly $30 bucks a month (around $1000 over the life of the lease). March isn’t exactly shaping out to be better than February when it comes to leasing. The Cooper is still a fairly affordable lease despite that increase. Just remember, no 48-month lease and watch out for the options. If it were up to me, I would simply order one. In most cases, dealers will let you lock in the March rates and still give you the option to get the new lease rate (for the delivery month) once the car arrives. So in case the lease rates drop, you could end up with a cheaper lease. If not, you can always go back to the March rates.

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  At Invoice At MSRP
Make/Model Invoice MSRP 24-month 36-month 24-month 36-month
09 Mini Cooper S $20,405 $22,600 $279 $258 $375 $324

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

2009 Mini Cooper
24-month | 15k miles | residual 72% | .00219 base money factor
36-month | 15k miles | residual 64% | .00219 base money factor
48-month | 15k miles | residual 54% | .00219 base money factor

2009 Mini Cooper S
24-month | 15k miles | residual 69% | .00219 base money factor
36-month | 15k miles | residual 61% | .00219 base money factor
48-month | 15k miles | residual 52% | .00219 base money factor

2009 Mini Cooper John Cooper Works
24-month | 15k miles | residual 67% | .00219 base money factor
36-month | 15k miles | residual 59% | .00219 base money factor
48-month | 15k miles | residual 50% | .00219 base money factor

2009 Mini Cooper Clubman
24-month | 15k miles | residual 72% | .00219 base money factor
36-month | 15k miles | residual 63% | .00219 base money factor
48-month | 15k miles | residual 52% | .00219 base money factor

2009 Mini Cooper Clubman S
24-month | 15k miles | residual 69% | .00219 base money factor
36-month | 15k miles | residual 60% | .00219 base money factor
48-month | 15k miles | residual 50% | .00219 base money factor

2009 Mini Cooper Clubman John Cooper Works
24-month | 15k miles | residual 65% | .00219 base money factor
36-month | 15k miles | residual 57% | .00219 base money factor
48-month | 15k miles | residual 47% | .00219 base money factor

2009 Mini Cooper Convertible
24-month | 15k miles | residual 66% | .00219 base money factor
36-month | 15k miles | residual 60% | .00219 base money factor
48-month | 15k miles | residual 51% | .00219 base money factor

2009 Mini Cooper Convertible S
24-month | 15k miles | residual 65% | .00219 base money factor
36-month | 15k miles | residual 59% | .00219 base money factor
48-month | 15k miles | residual 50% | .00219 base money factor

09 MINI Cooper Lease Rates for February 2009

My Take: MINI Cooper, how I love thee! This is one ride I hope keeps leasing well forever. This is probably the one and only ride that keeps its value so well, any money factor still makes this ride a good deal. The residual dropped .0001 from last month. Not astronomical, but it only makes the lease cheaper. So if you leased the MINI last month, don’t feel bad, it isn’t that much different this month, just about 20 bucks on a 36-month lease. Remember to watch out for your addon options. Get too carried away and you’ll be paying more than $400 a month for one these puppies.

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  At Invoice At MSRP
Make/Model Invoice MSRP 24-month 36-month 24-month 36-month
09 Mini Cooper S $20,405 $22,600 $243 $224 $339 $289

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 February Lease Rates

2009 Mini Cooper Coupe
24-month | 15k miles | residual 76% | .00219 base money factor
36-month | 15k miles | residual 67% | .00219 base money factor
48-month | 15k miles | residual 56% | .00219 base money factor

2009 Mini Cooper S Coupe
24-month | 15k miles | residual 73% | .00219 base money factor
36-month | 15k miles | residual 64% | .00219 base money factor
48-month | 15k miles | residual 55% | .00219 base money factor

2009 Mini Cooper John Cooper Works Coupe
24-month | 15k miles | residual 71% | .00219 base money factor
36-month | 15k miles | residual 62% | .00219 base money factor
48-month | 15k miles | residual 53% | .00219 base money factor

2009 Mini Cooper Clubman Coupe
24-month | 15k miles | residual 75% | .00219 base money factor
36-month | 15k miles | residual 66% | .00219 base money factor
48-month | 15k miles | residual 55% | .00219 base money factor

2009 Mini Cooper Clubman S Coupe
24-month | 15k miles | residual 70% | .00219 base money factor
36-month | 15k miles | residual 61% | .00219 base money factor
48-month | 15k miles | residual 52% | .00219 base money factor

DO NOT LEASE

Nope, none here, I can’t recommend this ride enough if it fits your needs. The only thing you should watch out for is the “padded” money factors the dealers like to quote.

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The Wall: Warren’s 2008 MINI Cooper

This is an unique WALL post because not only did I get a cool Silver/Black MINI Cooper to post on the WALL, but I also got a pretty good question (that I think many of you are wondering) to answer. So here’s the question from Warren in CA:

FEATURE QUESTION it seems like the MINI is still one of the better choices for leasing. I think this may only be the case for a few brands though as I recently read an article on CNN saying “cheap leases are disappearing”

For the most part I think they are right with a few exceptions. My question is, do you think we can expect the leasing business to be a thing of the past or is this just a direct result of what’s happening in the auto industry and the economy, in general?
I would guess this is just a slowdown in leasing business, and we’ll eventually see it return once the problems in the economy, credit crunch are resolved. Since this MINI Cooper was my first lease, I am hoping I’ll be able to lease in the future. I am a firm believer in the concept, and when one does all the math, it makes sense under the right conditions.

My Take: I think leasing will stick around for the most part, although, I do agree (to an extent) that cheap leases are going away. The economy certainly has had a significant impact on the leasing business, but I don’t think it will eliminate leasing completely. There is good money to be made on leases, specially for manufacturers that make vehicles that hold exceptional value. Previously leased vehicles can be resold as CPOs for a sizeable profit (they go for thousands more than used cars and dealers spend next to nothing on reconditioning). I can see GM, Ford leaving the leasing business completely, but the Hondas, Toyotas and Nissans of the world will probably keep leasing their more “popular” models at reasonable rates. I do think that finding a G37 for $360 + tax a month is a thing of the past though. The same can be said for the TLs and IS models. I think MINIs will be safe for the most part because of their resale value. As long as people want them, they will keep leasing them. The pattern is pretty obvious now. If we dig through the BMW, Mercedes, Acura, Infiniti line up, we’ll see how their popular models have the higher residual value, making them ideal for leasing.

I’d also like to add that the key now is to know how to look for the good leases and doing your homework in advance. The deals will be there, you just have to dig for them. Those who don’t will be the ones that hop on Yahoo! Answers and ask how they can get off their leases because it’s too expensive. Leasing, in the short run, is usually more economical than buying. Buying is usually best for less popular models and if you plan on keeping the car beyond 6 years.

Name: Warren
Location: California

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09 MINI Cooper Lease Rates for January 2009

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.

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  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

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