I’m in NY and negotiating a deal for a fully loaded 4-door Mini Cooper S (Iconic Trim and Navigation Pkg). The MSRP is $36,750 and I’m at 10% off so it’s $33,100. I believe I’m paying $0 down except first month and DMV fees…that’s $412/mo for 36 months and 7.5K miles/yr. Why I need a fully loaded MINI when I don’t drive so much is a question for my therapist but my question to the hackers…is this a good lease deal? is it at least OK?
How much exactly is $DAS?
How does the RV/MF/incentives compare to what you got from Edmunds?
I put down a $500 deposit to hold the car and The dealer said that would cover Most of my first month ($412) and some other NY State fees. Aside from that he said the only other cost would be the DMV plate transfer fee, ($60-$70).
Is the $500 refundable?
I don’t think the $500 is refundable…but I’m not 100% sure. Uh, oh.
Seems like you give away your bargaining leverage if it is not.
Minis rarely lease well. I’d check to see if they’re marking up the MF (interest rate), I’d bet they are if they gave you 10% off without much of a fight. 10% off and base MF is a good deal in most circumstances. Make sure they’re not padding the price with crap addons like glass etching or nitrogen fill tires.
You are correct, I lost some leverage and I may lose $500. But I do think I am getting a decent deal, I hope I’m getting a good deal. Now I’m not so sure. Of course the leverage I always have is walking away if I feel I’m getting hosed at the dealership when I pick up the car. I’m asking for the lease agreement before I head over to pick up the car this week…stay tuned.
I can’t say if this is a good deal or not. It would be good if you can get this into the LH calculator. Check on what the current Mini incentives are . Is 7.5k miles enough?
Did you sign anything (agreement, form), and they did take/cash the money (check or credit card)? If you didn’t sign any deposit agreement and funds have not been debited, you can always try putting a stop payment on the check or dispute the credit card transaction.
Also, if you’re a PenFed or USAA member, there may be incentives there worth looking into.
If my $DAS is really only my first month and plates, and EVERYTHING else is rolled into my monthly then I think the $500 deposit will be worth it. If that is the case…did I get a good deal on a fully loaded MINI (iconic with NAV?
MSRP $36,750 down to $33,107 (10%) for $412/mo with 36 months and 7.5K/yr (I don’t drive a lot). Is that a good deal? I found little inventory of 4-door MINI’s with my must have apple car play.
Are there any incentives you qualify for? Were there any applied?
I did not qualify for any incentives. I think fellow hacker AjGraham is right…looks like MINI’s are not so amenable for lease. I tried the hackr calculator with the best info I could get on MF and RV and it calculated $383/mo with $2,171 drive off and my deal is $412/mo with DAS only $412+plate fee.
Yes, 7.5K/yr is enough for me. I did not qualify for the 2 incentives that are offered (military or college grad).I did not qualify for any incentives. I tried the hackr calculator with the best info I could get on MF/RV and it calculated $383/mo with $2,171 drive off and my deal is $412/mo with DAS only $412+plate fee.
The RV/MF were spot on compared to Edmunds.
I plugged in the MF/RV into the LH calculator. It came out with $439/mo versus my $412/mo. I opted for zero DAS. Aside from my $500 deposit I’m only paying $12.75 and plates. So I think I did OK but I leave it to the experienced LH to LMK.
It does not look like they marked up the MF. Same as Edmunds.
I made a $500 deposit and $DAS is $12.75 + plates
For that make and trim, and the current market, that sounds like a solid deal. Enjoy the vehicle, always reminds me of being home in the UK when I see one.