Weighing up lease renewal from MINI and have been offered the following
Mini Clubman 2023 Iconic
MSRP: $45,175
Sale Price: $42,775
Money Down: $3K (covers fees, tags, first month)
36 months / 10K miles
Residual 61%
MF: 0.00235
Quoted monthly: $595
Seems a bit high but then again there doesn’t seem to be too many great offers out there, any feedback on if this is ok or outright bad?
Calc link: Here
Why does it ‘seem a bit high’? Have you researched and populated calculator with the negotiable numbers you need to make you want to do a deal?
Are you fixated on a Mini? There are many NISSANs out there with less payment and down.
High compared to my current lease with MINI ($450) from 2020 for the same car/specs/msrp and same terms but suppose it’s been three years.
Mainly interested in MINi given current lease but suppose this is the year to be more frugal.
3 Months ahead of lease turn in and MINI wants to get the car back now.
Can you plug into the calculator to see what you get?
Is it a real pull ahead program? Is there any equity on your current lease?
It really should be a requirement to start new threads that it have a calculator link embedded before being allowed to post it…so many people clueless and don’t ever try.
Fixed it for you.
Calc is giving me $555 per month (Link)
I had it, just thought I’d save a click and post the relevant info in the post.
Ah, let’s be more generous. The poster is making a post before signing, so that it always a good sign. 
But, yeah, I do think it’d be nice for “Post a Calculator” to be in a FAQs or something.
I have to admit I’m not great w/ the calc, but your $3K is DAS and NOT all going to cap cost reduction, right?
Agree w/ @gohawks23’s first post to see if you can find deals here for the same car to get a sense of what’s fair nowadays (I don’t recall seeing many Mini posts, though).
What is the buy rate MF?
Did you verify base MF and RV for your terms at Edmunds? Did you look to see what discount off MSRP you can get from brokers or what other people have got in this forum?
If so you can post a calc that shows what can happen in today’s environment…and then shave some more dollars off the MSRP and use that payment amount with associated DAS to make offers to see if any dealers will bite.
Yeah, I just really hate comments like ‘it seems high’…what does that even mean?! Haha…its the engineer/spreadsheet guy in me!
I love seeing people want to really learn tho…
Have you shopped your current car to Vroom, Carvana, CarMax, etc to see what really worth?
Off topic: Oh, gawd, don’t even get me started on that. I’m working on bathroom remodel, and the general contractor shows up Wed and starts trying to do plumbing work that’s totally diff than what I had approved. His response: “My way is better and will save you money.”
Me: “Better than what and will save what money??? I’ve been asking you for 6 wks for an estimate, you refuse to provide one.”
Sorry, just had to vent.
Okay, back to topic.
You’ve caught me in full lazy mode (was fishing for someone who may have had a mini deal in the past 2 months come in and either give me a pat on the back or take my keyboard away and throw it in the ocean (that bad of a deal).
It’s worth $26K payoff today but Carmax, Carvana, vroom and others are offering $22K-$25K.
MF and Residual match Edmunds Feb '22 numbers.
So you are underwater on ‘trade’ from 3rd party perspective…meaning dealer turn in might make sense as long as he isn’t pushing negative equity on you…a lot of moving pieces here so you really need to be on top of it.
Good, so now it really comes to discount off MSRP and how your cap comes together.
Use the calc and take a discount off MSRP you think is just slightly out of reality (based on google research, whatever) and put together a payment with 0 down other than govt fees and taxes. See if dealer will match that with your early turn in. It’s all math at end of day but you need to be in control of and understand the variables.
Right to factor in opportunity cost as part of money off MSRP (remaining three months payment that I would have otherwise made)?
That is really a separate transaction that should stand on own…maybe even to make you feel better…but has nothing to do with eventual lease payment you will get…other than any positive/negative equity dealer might roll into your deal.
The other thing is it is probably close to the worst time ever to lease in general with high MF’s and low RV’s. If you have to get a new car now cash or financing are best.