If you’re not quite ready to buy a MINI, leasing is a great alternative, as you get a brand-new car without the commitment of financing. But to avoid long-term costs, you’ll need to learn the ins and outs of monthly payments, upfront costs, and lease-end options.

If you’ve always wanted to drive a retro-inspired MINI but aren’t keen on maintenance costs and vehicle expenses, leasing may be a good option for you. When you lease a car, you get to drive off the lot with substantially lower monthly payments and fewer upfront costs than you would with financing. Plus, as long as you have good credit, you won’t need to be approved for a car loan.

But leasing a car isn’t all perks—it does come with its drawbacks. You’re subject to greater restrictions and have to pay for convenience and depreciation as opposed to the actual value of the car.

Want to know more about leasing a MINI?

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MINI insurance costs

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How to lease a MINI

If you have your heart set on driving a MINI, the leasing process is pretty straightforward. But it’s not quite as simple as picking the car you want and signing your agreement—you want to make sure you understand all the requirements and details before you finalize anything.

If you’ve weighed the pros and cons of leasing a car and are wondering how to do it, here are the steps involved in leasing a MINI:

Check your credit score. While you likely won’t need a car loan to lease a MINI, you will need to have good credit. Most dealers are looking for people with good credit, which means anything over 660.

Have a budget. Because there are several models that all have additional features, monthly payments can get steep quickly, so knowing your budget is important. While monthly payments may be cheaper than financing, you have to remember to factor in a downpayment, insurance, gas, maintenance, and more. Crunch numbers before you hit the dealer. In general, you don’t want to be putting more than 15% of your monthly income towards your lease.

Find the right car. Before you can sign a lease, you need to know what you’re looking for! Do you want something with no gas costs? A car that the whole family can fit into? Or maybe you want a sleek and sporty daily driver. Figure out your needs and find the MINI that’s suitable for you.

Drive it. Once you’ve found the MINI that’s right for you, take it for a test drive to make sure you’re happy with it.

Know your upfront costs. Putting money down on a MINI may not be mandatory, but it can help to reduce monthly payments and increase your chances of being approved for a lease.

Calculate your annual mileage. Are you someone who works from home and doesn’t drive much? Or are you someone who commutes daily to work? Most car leases come with an annual mileage cap of 10,000 to 15,000 miles. If you don’t think that’s going to cut it, you may want to consider a high-mileage lease.

The fun doesn’t stop there. Once you’ve found your perfect MINI, you may be able to get a great deal on a lease. MINI has some great

offers and incentives

that you’ll want to check out before making any decisions. The MINI Hardtop 4 Door Cooper,

Cooper S

, or

Countryman Cooper

are great budget-friendly options. Or if you’re looking to splurge this time around, the

Countryman John Cooper Works

will offer you a wild ride.

But before you rush out the door to the MINI dealer, you want to have a maximum budget set. You’ll be bombarded with options and add-ons that can quickly skyrocket your monthly payments. Know what’s essential in your MINI and know what’s a nice feature to have.

MORE: Are MINIs expensive to maintain?

The final step: shop for insurance

Now that you’ve picked your perfect MINI, you’ll need to find insurance to keep your baby protected! But also remember that car insurance isn’t covered in your monthly lease payments. That said, insuring your car doesn’t have to cost you an arm and a leg more. Car insurance comparison genius and licensed broker Jerry searches the top insurance companies to get you the best coverage for the best price.

Jerry will send you the most competitive quotes from 50+ of the best insurance companies. Once you choose your policy, Jerry will take care of the rest. You could be saving as much as $887 per year on your car.

MORE: How to lease a car

How much does a MINI lease cost?

Monthly payments to lease a MINI will often be cheaper than financing one, but the exact monthly cost will vary based on the following:

Model

Negotiated selling price

Lease term

Interest rates

Features and add-ons

Acquisition fee

State sales tax

Payment frequency

Checking out the MINI lease offers and incentives is also a great way to save money on your monthly payments. But if you’re rocking a top-notch credit score and looking for a 36-month lease term, your payments can range from $462 for the

Hardtop 3 Door Cooper S Hatchback

to $848 for the Countryman Cooper SE ALL4 Hybrid.

On top of the base lease price, you’ll also have to pay other fees, such as your downpayment and taxes, all of which can hike up the cost.

Let’s go through an example so you can understand the costs for a MINI SE Countryman. On average, you’ll pay around $595 per month and your upfront costs will be:

First month’s payment: $595

Downpayment: $1,000

Security deposit: $0

Acquisition fee: $925

If you’re hoping to drive off the lot in an SE Countryman, you can expect your signing total to come to $2,520, including taxes and fees. If you want to add any additional features, the monthly payments and amount due at signing will both increase.

Services included in a MINI lease

One of the major bonuses attached to leasing a MINI over financing is that most of your maintenance costs will be covered under your lease agreement for the duration of your lease term.

All new MINIs come standard with one of the most comprehensive scheduled maintenance programs in its class, covering all recommended scheduled maintenance for up to three years or 36,000 miles—whichever comes first.

Included in your maintenance coverage is:

Engine oil services

Inspection services

Brake fluid service

Engine air filter

Cabin air microfilter

One of the great things about leasing a MINI is the flexibility. MINI offers two types of leases plus a mileage adjustment program that helps you avoid lease-end excess-mileage charges without having to obsess over the odometer.

On top of the great coverage MINI offers during your lease, they’ve also got you covered with lease-end protection. The plan covers up to $5,000 of excess wear and tear charges for interior stains, tire wear, chips, dents and dings, and more when your lease term is up.

Coverage for the lease-end protection includes:

Waiver of covered excess wear and use charges up to $5,000 (does not include coverage for excess mileage charges)

No deductible

Coverage of charges for missing parts valued at $300 or less each

More details about what’s covered (and what’s not) on your lease-end protection plan can be found

here

. MINI also offers a detailed

Turn-in Options and Wear and Use Guide

Key Takeaway Your monthly payments for leasing a MINI can range between $462 and $848 depending on the model you choose. Be sure to consider extra charges for upfront costs, add-on features, and other complementary services.

What to do when your MINI lease is up

When your lease term is up, MINI offers three options for you to choose from: Get yourself a new MINI, keep your trusty old friend, or return your MINI and big farewell.

How to return a leased MINI

If you’ve decided that you’re ready to part with your MINI, you have one of two options: Trade it in for a new MINI or bid farewell forever.

Every MINI has its distinct character, and if you’re ready to trade in your current vehicle for one with a different look or feel, there’s a new one waiting for you. If you decide to lease or purchase a new, custom-ordered MINI, your current lease can be extended for up to six months until your new MINI arrives.

Also, if your next vehicle is leased or purchased through MINI Financial Services, your end-of-lease disposition fee on your current vehicle and security deposit on your new MINI will be waived.

If you choose to part with your MINI for good, there are a few things you’ll have to take care of before you return it. Here’s what you need to do:

Notify your MINI dealer and MINI Financial Services. If you’re turning in your vehicle, you’ll need to let your MINI dealer know ahead of time. You can also schedule your vehicle inspection a month before vehicle turn-in. If dealing with MINI Financial Services, ensure they are notified. They will contact you about 60 days before your lease ends to confirm your plans.

Get a vehicle inspection. A MINI Financial Services rep will contact you to schedule your pre-inspection. If you’d like to schedule a complimentary pre-inspection on your own, you can contact any local

MINI Dealer

Make the necessary repairs. Once you have your inspection results, repairs can be made at a MINI dealer or through your licensed mechanic. Make sure you keep all repair receipts—one copy for you, one for your insurance company (if required), and one for the dealer at turn-in. You are also required to complete all scheduled maintenance on your MINI as detailed in your owner's lease guidelines.

Return your MINI. After your vehicle has been inspected and repaired, it’s time to bid farewell. Call your local MINI dealer to schedule a time to turn in your vehicle. They will review the final inspection, so make sure you bring your MINI Lease-End Inspection Form along with all keys and the owner’s manual. They will also complete the Federal Odometer Disclosure Statement.

Upon return of your MINI, you may also be subject to additional charges:

Disposition (turn-in) fee. All MINIs are subject to a $350 turn-in fee at lease termination if you do not decide to purchase your MINI or trade it in for a new one.

Excess mileage and wear and tear. You are responsible for any excess mileage accumulated beyond what’s outlined in your lease agreement. You may also be subject to excessive wear-and-use costs as indicated in your lease agreement. All final charges will be noted on a final maturity statement that will be sent three to four weeks after return. If you have purchased an excess wear and tear protection plan, refer back to your insurance documents for claim submission procedures.

MORE: How to prepare a car for inspection when returning a lease

How to purchase a leased MINI

Most MINIs retain their value, which means keeping your faithful companion is a wise idea. You have the option to either finance the total amount due with MINI Financial Services or send a cashier's check or certified funds to pay it off.

Note that if you decide to purchase your vehicle outright, you will have to pay for its residual value (as set out in your original lease agreement) plus any taxes, fees, and past due payments or charges.

MORE:

Is it better to lease or buy a car?

How to find affordable car insurance for a MINI

Whether you choose a Clubman, Countryman, or 3-door hardtop, you’ll want to make sure you have car insurance to keep it protected. Understanding the finances and terms of a lease agreement may be complicated, but finding car insurance shouldn’t be. Car insurance comparison app and licensed broker

Jerry

takes the work out of finding

car insurance

for your MINI.

In less than two minutes, Jerry finds quotes from 50+ insurers to get you the coverage you need at the lowest price. And best of all, they’re there to support you from beginning to end. When it comes time to switch over and renew, Jerry even takes care of that.

You don’t have to just be saving on your lease—the average Jerry user saves up to $887 a year on car insurance.

“Using
Jerry
is a super straightforward process, and at each step, you can see exactly what coverage you’re paying for. Thanks to Jerry, I’m paying $900 less each year while keeping full coverage for my new car!” —Martin H.

Is MINI leasing worth it?

Leasing a MINI can be a great option for people who aren’t interested in upkeep costs associated with financing a car and want a new car every few years. If you’re looking to own your vehicle, leasing probably isn’t for you.

What’s the cheapest MINI you can lease?

The payments on a MINI can range depending on what model you choose, your downpayment, lease term, sales tax, and the like. Paying a large downpayment and having excellent credit can both work to your advantage when leasing a car. Lease offers and incentives can further reduce monthly lease payments, but in general, you can expect the cheapest monthly payments to be around $462 for the

Hardtop 3 Door Cooper S Hatchback

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