97QuasarBlue3.8

Not to discredit GM's work on the Volt, but I see it kind of ironic that the Volt has been years in the making...

...and BMW just leans over to the Mini division and says, "Make an electric car!" and *poof!* An instant car-to-market solution appears.

A 100+ mi radius would certainly fit all my needs. Granted, I like the Volt's setup better, which includes long-range, self-recharging capability, and a back-seat with some luggage room.

Z28x

GM could have made a 100mi+ Cobalt over night, but would anyone have paid $60,000 or $850-$900/mo. to lease one?

Same goes for the Volt. For $15,000-$20,000 more they could have doubled the battery size.

Indelibility

Pfft...Aptera Typ-1 all the way

slt

Well, the 500 unit production run and 1 year lease both speak to the fact that this Mini isn't production ready. The battery probably isn't designed to last the life of the car and it probably isn't cold weather compatible. I would guess that the majority of these will be lent out in California for mostly PR purposes.

97QuasarBlue3.8

But GM didn't. The Cobalt is a different car, $15660 for the base. Mini is at $18550 for the base. Loaded up, the Mini can be nearly a $30,000 car. It also has a different appeal--it's not a plastic wheel cover econobox painted silver and sold in massive fleets.

On a 36 month loan at 5.24%, zero down, no trade, a $30,000 car costs about $902/month. Plus gas.

Leasing is theoretically cheaper because you pay monthly on an agreed-upon amount of depreciation over the lease period. Except for a lot of cars where the depreciation is too great and automakers were losing their shorts. Different can of worms--won't go there. Doesn't work for Cobalts.

But a limited production run of Minis, maintenance included, and figuring you don't have to pay for gas anymore...$900/month is still a high price to pay. BUT...Figure $200/month for gas you're saving.

Now we're at $700/month which is about payment of a $23000 car on a 36 month, 5.24% zero down, no trade payment. Roughly the cost of a Cobalt SS. Add in gas, and you're back at $900/month.

It's highly experimental, but I'm betting those 500 Minis are already spoken for. To be able to drive one at the cost of any other depreciating $23k or $30k car depending on how you see it is kind of worth it. Especially since you won't owe on it when the lease is up. Unlike a $30k auto loan, you're typically upside down for a while and have zero equity in the car anyway.

If you play with the numbers, yeah, it's probably cheaper to buy a Cobalt XFE and gas save, pay off the car in 3 years. Forget the SS, forget the decked out Mini. But if you look for just one year, and you want to participate in shaping ground-breaking technology...The numbers aren't too screwy.



That would be my guess too. But it's certainly caused quite a commotion, and Mini/BMW is really the only manufacturer right now that's offering a mainstream vehicle in EV-only version. I hear the Prius is going EV-only optional soon, but not sure on the whereabouts.

Plague

You would own the car at that point. For $850 a month, you won't own anything on this electric version.

I don't think most people go for 36 month loans, which cause people to be upside down on their loans. It is very difficult to have a 36 month loan on a new car without a trade in at a reasonable price to be upside down.

This MINI E lease will work out in California and probably no where else.