Hi hackrs, I am trying to make sense of the lease numbers that I’m being quoted on a MINI Cooper S 2019 (2 door, custom build, Iconic trim). For this car in the month of July, the nationwide MF is 0.00162 and RV for a 36/10k lease is 67%.
From the dealer’s lease quote sheet:
Market Value Selling Price 35,750.00
Adjusted Price 35,000.00
Dealer Prep 395.00
Total Purchase 35,395.00
Doc Fee 150.00
Non Tax Fees 502.50
Net Price 36,998.00
[Note: acquisition fees are not on this quote, but I know it’s an extra $925. Trying to keep that out of the equation until I can match everything else up].
Cash down 1,000.00 [not explicitly cap cost reduction, but towards first month payment, other fees]
Monthly payment incl. tax (10.4% in Seattle,WA) quoted for 36/10k: $493
Whichever way I run these numbers in the calculator, I get a lower payment even with $0 down. The dealer prep fee is tricky to work in because I don’t know where to include it - for the moment I’ve put it in to the acquisition fee field. Any thoughts on how to reconcile the numbers? Thanks for taking a look.
What the heck is dealer prep? The manufacture already pays them to prep the car. Where is this $493 number coming from, I doubt a dealer would quote a payment without the acq fee built in or collected. Also, do you know for a fact that they are using the buy rate for the MF? Get a break down from the dealer, screenshot or printout.
It’s a bulls**t fee basically - they wanted to charge me $990 for dealer prep + some sort of surface protection, but I called around to the dealers I’m willing to drive to and found that they all charge it. The cheapest one is $395, so I made the one I’m talking to match it.
I asked about the acquisition fee, and the salesperson said it’s not included. He could be mistaken. He also confirmed with me in writing that he’s using the same MF and RV. Here’s a screenshot of the quote he sent:
Would the acquisition fee typically be called out on a different line in the quote?
What a bunch of crap, I didn’t think these were popular enough for them to still pull that kind of profit padding.
They don’t offer ANY discounts on custom builds … the discounts you see on the quote are through my wife’s employer’s corporate fleet benefits. Unfortunately this is one of the only cars small enough to maneuver into my garage and one the missus is willing to be seen in lol.
It’s already built into those payments, or it should be. This isn’t a true breakdown, it’s just a fancy 4 square. I’d ask for a complete breakdown. They have you by the balls, so you better triple check everything.
Ew. With those numbers, I’d rather get a very nice 2 series. Total length difference is only 5".
Will do - yup something doesn’t add up.
That was definitely one of the alternates I was looking at - but a similarly spec’d 2 series comes up to a full $10k - $12k more, and the residuals are worse (around 50%).
So here’s what it looks like, zero drive off $522. Take their $1000 DAS and it brings it to $495, pretty close. That’s with all their
Typical Seattle…no motivation to negotiate.
By DAS you mean the $1000 cash down?
Nope, Due at signing. I included the acq prep etc
The monthly comes out lower for a fully spec’d 230i than the sheet you’re showing for your mini.
Gotcha, that makes sense - I see where you added the dealer prep to the doc fees.
So their quote definitely includes the acquisition fee from the looks of it. I’ll double check with the dealer to confirm. Thanks!
Could you share that with me? I’m getting a much higher cost for a 230i RWD at ~$45k msrp spec’d with premium package, harmon kardon sound, driver assist, active cruise control etc. Here’s the calculator:
The 230xi leases better. These numbers are what I saw on edmunds, though they’re not specific to your region. Give or take a bit on the residual. Also note this calc is for 36/12 instead of 36/10.
12% off MSRP before any incentives? That’s pretty sweet! Is that the usual going discount off of MSRP? The challenge I have is that I really want a car with Active Cruise Control, and no MINI or BMW dealers have any of the cars I want (Cooper S 2dr or 2 series) with that in stock. What complicates matters on the 2 series is that the M sport package (a popular option added on) conflicts with the ACC package.
So I’m stuck with the custom build route, and dealers tend to be less generous with negotiating discounts on custom builds.