MINI2

mr.abulia · Aug 19th, 2006, 03:01 AM

Does anyone know of a good company that will provide car leases (3rd party company)? I am thinking of leasing my Mini, but quite frankly the advertised special rates offered by Mini Canada seem a bit ridiculous (6.5%?!? Come on!!!)

faster,Tobias! · Aug 20th, 2006, 12:08 AM

Quote: Originally Posted by mr.abulia (original)

Does anyone know of a good company that will provide car leases (3rd party company)? I am thinking of leasing my Mini, but quite frankly the advertised special rates offered by Mini Canada seem a bit ridiculous (6.5%?!? Come on!!!)

I think you will be hard pressed to find one, mr. abulia, because for the leasing company to buy-down the interest rate (which is what they do) they would have to receive the car at a steep discount to be able to make any money operating as a middle-man. And with MINI's limited (comparatively speaking) production, high build cost and high demand that is something they don't need to do. GM, Ford and Chrysler, on the other hand..

mr.abulia · Aug 20th, 2006, 12:31 AM

You're probably right, Faster. (At this point, I'm starting to wonder what your next car will be called!) I'm just quite wary because of the bath I took on my current depreciating asset, and was hoping to lease so that I would know in advance exactly what my car would be worth when I want to get out of it. However, a 6.5% lease rate from Mini Canada isn't what I had in mind... something closer to 5% would be reasonable in my mind, but I suppose that it would equate to too deep a discount on the car itself. (I keep forgetting about the discount/lease correlation.) Something more to think about.

BTW, did you get my PM?

British SD · Aug 21st, 2006, 07:01 PM

Faster Tobias is correct. Its just like the 0.9% financing that the big three often offer. It only exists because the vehicle price is overinflated to compensate.

I would add that no comparitive lease is the same. Different leasing companies have different rules on how much tread has to be on tires, what constitutes reasonable wear and tear (size of scratches and door dings) etc.

The MINI Cooper has the highest resale as per Kelly blue book and your almost guaranteed to find it worth considerably more than any residual placed on a lease.

Aug 19th, 2006, 03:01 AM	#1
mr.abulia MINI2 Regular Join Date: Jul 2006 Location: Calgary Local Time: 01:44 PM Posts: 241 Offline	Canadian leasing companies Does anyone know of a good company that will provide car leases (3rd party company)? I am thinking of leasing my Mini, but quite frankly the advertised special rates offered by Mini Canada seem a bit ridiculous (6.5%?!? Come on!!!)

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Aug 20th, 2006, 12:08 AM	#2 (permalink)
faster,Tobias! Fanatically Enthiusiastic Join Date: Sep 2005 Location: Calgary, Alberta Local Time: 01:44 PM Posts: 1,165 Offline	Quote: Originally Posted by mr.abulia (original) Does anyone know of a good company that will provide car leases (3rd party company)? I am thinking of leasing my Mini, but quite frankly the advertised special rates offered by Mini Canada seem a bit ridiculous (6.5%?!? Come on!!!) I think you will be hard pressed to find one, mr. abulia, because for the leasing company to buy-down the interest rate (which is what they do) they would have to receive the car at a steep discount to be able to make any money operating as a middle-man. And with MINI's limited (comparatively speaking) production, high build cost and high demand that is something they don't need to do. GM, Ford and Chrysler, on the other hand..

Aug 20th, 2006, 12:31 AM	#3 (permalink)
mr.abulia MINI2 Regular Join Date: Jul 2006 Location: Calgary Local Time: 01:44 PM Posts: 241 Offline	You're probably right, Faster. (At this point, I'm starting to wonder what your next car will be called!) I'm just quite wary because of the bath I took on my current depreciating asset, and was hoping to lease so that I would know in advance exactly what my car would be worth when I want to get out of it. However, a 6.5% lease rate from Mini Canada isn't what I had in mind... something closer to 5% would be reasonable in my mind, but I suppose that it would equate to too deep a discount on the car itself. (I keep forgetting about the discount/lease correlation.) Something more to think about. BTW, did you get my PM?

Aug 21st, 2006, 07:01 PM	#4 (permalink)
British SD Northern Monkey! Join Date: Oct 2005 Location: In a Van by da river Local Time: 01:44 PM Posts: 367 Offline	Faster Tobias is correct. Its just like the 0.9% financing that the big three often offer. It only exists because the vehicle price is overinflated to compensate. I would add that no comparitive lease is the same. Different leasing companies have different rules on how much tread has to be on tires, what constitutes reasonable wear and tear (size of scratches and door dings) etc. The MINI Cooper has the highest resale as per Kelly blue book and your almost guaranteed to find it worth considerably more than any residual placed on a lease.

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