Payment: $340.53/month, with only first month DAS, inclusive of taxes
Money Factor: .0016
Is this a solid deal?
They’re also offering lease-end wear & tear coverage for $1,195. I do a lot of city driving in NYC and was told there’s no flexibility on that price. Curious whether this is worth taking or if it’s generally not recommended.
I’d also need to pay about $800 to ship the car, which brings the effective monthly cost closer to ~$360/month.
Hi! Thanks for your response! I’m having trouble finding reference points as well. I tried running my numbers but dont have the residual value so its a little hard to tell. Its an S Signature Plus Trim. They included $1500 of rebates but I dont actually qualify for any specific programs.
I tried putting all the information the dealer provided (attached) into the calculator (linked below). He’s including $1,198 for lease-end protection in the current numbers and mentioned there’s no room to negotiate it any lower, but I don’t need to take it.
Does this look like a good deal? Any specific areas I should try to negotiate down? I’d really appreciate any advice, this is my first lease and my first car, so any input is helpful!.
Regarding the dealer discount of 16.77 % before incentives on a demo, I don’t see any better deals posted in SIGNED or in the marketplace.
However, if you want to save even more money and can increase your due at signing amount, do 10 refundable MSDs (about 3500), which will save you 1,339 over the term of the lease.
Almost 17% off and buy rate is sweet deal on a MINI! Probably the lowest I’ve seen for a Cooper S.
As for the excess wear and tear waiver, it really depends on your comfort level. If I had garage parking, I’d personally opt out because that’s a guaranteed cost of $1,195 to me when nothing could happen. Even if I incurred $1K in damage at lease-end, I’d still be ahead without excess wear/tear. What sort of wear and tear have you seen on your vehicle(s) in the past?
Thanks for the input! This is my first car, so I don’t really have a baseline for wear and tear. I live in NYC and will be primarily street parking, dealing with potholes, etc., so it just seems really high. Another dealer offered it for $800, but the overall terms were less favorable, which makes this current deal more worthwhile. That’s really the only reason I’m thinking he might be bluffing about not being able to negotiate it down.
Actually, funny enough, this is basically the deal I ran with a dealer after a broker got me a small discount, which I ended up passing on. Not super in love with the car anyway, my other option ends up being almost the same if I skip the extra wear-and-tear coverage. (which isn’t offered on this car (if its the same one I’m referring to))
