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Discussion Starter · #1 ·
I'm in the market for a fun 3rd car and i'm considering both a Mini Hardtop S and BMW 2-Series. I've had no problem finding out the base money factor for the bmw (.00135), but I haven't been able to find this information for the Mini.


I've contacted some dealers and was told .00222 which equals almost 5.3%, this seems unbelievably high to me. Can anybody confirm this as the base rate, or has this been marked up?


When I use the numbers on the mini website for current deals I can't get the claimed payment of 249 + Tax using this money factor which is why I don't think it is the base rate.....


Thank you.
 

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Discussion Starter · #3 ·
When you lease a car it's import to know the Residual and the Money Factor (interest rate) being offered. Dealers can't change the Residual, but they typically can mark up the Money Factor (interest rate) given on a lease. The money factor is represented as a decimal value, for example the current base rate (meaning the lowest interest rate you can get on the lease) for a bmw is .00135. Multiply this by 2400 and you get your interest rate...so 3.24%. I am asking for the current money factor to lease a mini cooper. If you have never leased a car, it may not make any sense...
 

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I don't think you'll get the correct number over the phone. The $249.00 monthly payment on MINI USA is based on a $26,200 MSRP, since the MSRP will vary it's probably best to stop in and see what kind of lease terms they can give you on the car you pick.
 

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Wow you Guys and Girls getting hit hard on the Island on the financing.:eek:
Not only on the financing part. Ever seen European prices for the car itself? And then comes the insurance & road tax. And don't even mention the prices for fuel over here :crying:

I own my MCS meaning it's not leased or on some other kind of finance but it still costs me around 300 € a month to drive it. Not even calculating depriciation.

But, it's worth every cent!
 
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