Good Deal on Mini Convertible?

I'm currently in the market for a 2010 Mini Convertible as the lease on my BMW 328 is now up and want to know if I’m getting a good deal on the lease. I'm afraid of the Select program which is why I want to stick to the traditional lease. I qualify for BMW Elite meaning that I have good credit.

Specs: 2010 Mini Convertible with Premium Package
MSRP $28,700
12K Miles; 36 month lease
$500 down and $394 a month tax in

I thought i could get it for $370, but they just won't budge. Keep in mind its a 2010, not a new 2011. Tax in my state is 7% and interest is 1.9%

HELP!
THANKS

what's the cap cost? never do a lease on MSRP...

The only way you know if the deal is real is to competitively shop.

Saw your post...I just now got an email from a friend who is selling his Mini Cooper Convertible JCW at a price like what you're looking at. Details below.

Max is for sale. He's a 2007 S convertible -John Cooper Works Package; in excellent shape, maximum options, that's how he got his name (no aerokit, however) and is really clean. Max has traveled all of 8,985 miles in his short life on $4,000 wheels, and is Pepper White with black racing stripes. He has a six speed transmission. Even has an Ipod. No one has ever hit him, abused him, or even taken him out in the rain. No dings, no hits, no errors. Keith Collins custom rugs. Warranty is good until March 2012, Asking price $27,500 obo.