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BMW Z4 Lease Questions

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  • You're very welcome, crush3466.

    Car_man
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  • Dhanley is right, Jim. Vehicles' selling prices are based upon a percentage of their full MSRPs including the destination charge and the MSRPs of any options that can be residualized. The reason for this is just as you described in your post.

    Car_man
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  • Hi noobified. BMW Financial Services' current residual value for a 36 month lease of a 2006 M Coupe with 15,000 miles per year is 52%. Its 12k residual would be 2% higher and its 10k residual would be 3% higher.

    Car_man
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  • Hi addi. BMW is not currently providing any lease support on the 2006 X4 Coupe. As a result, if you were to lease one through BMW Financial Services, you would have to use its standard lease money factor. Its current standard factor is right in line with the factor that you were quoted. The residual values that you posted are right in line with what the residuals for a lease of this car with 12,000 miles per year are right now.

    Car_man
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  • addiaddi Posts: 33
    Hello Car_Man,

    Thanks much for the info. I am thinking of using a new BMW dealer for my next lease. Your info helps me to make that decision. My lease is up March 2007. As we get closer to January 2007, I might have further questions for you. If BMW has a pull-through program, I might have to act sooner.
    You are appreciated.

    Addi.
  • Greetings Car_man,

    Can you please take a look at these numbers? The dealer is in SE PA. Advice much appreciated.

    Thanks!

    2006 BMW z4 3.0si roadster

    Metallic Paint
    Leather Seats
    Manual Transmission
    Premium Package
    Sports Package
    Heated Seats
    Xenon Lights
    Navigation System
    MSRP: $49,870

    $4,848 Total due at signing
    $3,500 Security Deposit

    $530 @ 24 Months with 15K/year

    Rate after security deposit: 0.00251
    Residual: 65%
  • ip79ip79 Posts: 4
    Hello,
    I live in Los Angeles and am looking to lease a 2006 z4 3.0i for 24 month with zero drive off. I would like to add automatic trans, premium package and leather. I am trading in a 2004 Honda Accord EX-V6 fully loaded (all standard features) with 44,000 miles and in great condition (as described by Kelly Blue Book). My payoff on the Accord is $17600. what should i expect my monthly payments to be and what can i reasonably expect to get for the trade-in?

    Thank you in advance.
  • You're very welcome, Addi. Let me know if you have any other questions.

    Car_man
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  • Hi expunged. The money factor that you were quoted for this car is right in line with BMW Financial Services' buy rate for one with seven additional security deposits. This is a good sign because it means that the dealer that you are working with is not trying to mark your car's money factor up to add additional hidden profit to your deal.

    I would be happy to give you my opinion of this deal, but you never mentioned this car's selling price. This is a very important number for you as a consumer to know because the selling prices of leased vehicles are negotiable, just as if you were paying cash for them. Without knowing what this car's selling price is, you don't know how much of a discount you are being given on it. BMW is providing a whopping $7,000 dealer cash on the 2006 Z4 3.0si roadster right now, so you should be able to negotiate a very low selling price on one. Find out what this car's price is and I'll let you know what I think.

    Car_man
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  • Hi ip79. In order to figure out what your car's lease payment should be you need to know its selling price. BMW is providing a whopping $5,000 dealer cash on the 2006 Z4 3.0i roadsters right now. This cash will enable you to negotiate a very attractive selling price on one.

    There's nothing wrong with trading in your current car when leasing a new one, however it would be in your best interest as a consumer to have the dealer cut you a check for your Accord rather than using the proceeds from it as a down payment for your lease. I always advise consumers against making down payments on leased vehicles. Consumers who make them risk losing them if their vehicle is totaled in an accident or stolen and never recovered. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".

    Anyhow, find out the Z4's selling price and I'll estimate what its lease payment should be.

    Car_man
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  • ip79ip79 Posts: 4
    Thank you Car_man for your response!

    The invoice on the 2006 Z4, equipped as i want, is $38255 and the MSRP is $41920. let's say the selling price is $38255. I absolutely agree with you regarding not putting any down payment on a lease and i always do zero drive-off. In this case however i may be upside down on the 2004 Accord because of the millage and i would like to roll the negative (if any)into the new lease. The Edmunds value for the Accord is approximately $18000 and my payoff is $17500, but i don't know if this is a realistic amount to expect from a dealer on a trade in. Also, how can i reliably find out what the residual is for the 24,30 and 36 month as well as the money factor/percentage? Again thank you for all your help!
  • Hi Carman:
    The family is looking at another Z4. I couldn't find anything else on the web indicating the incentives. Are you saying there is now $5K dealer cash on a 3.0i and $7K dealer cash on the 3.0si? When did this start and how long is this incentive marked for at BMW? If that is the case, the deals are better than ever if my area has inventory.
  • I got my Z4 3.0si last tuesday. (October 31, 2006)

    The deal was..

    MSRP 48220
    which includes

    Metalic Color (Titanium Silver)
    Automatic transmission
    Premium Package
    Heated Seat
    Xenon Headlights
    Hardtop prep (didn't ask for it, but anyway...)

    Total money due at signing was $3,400 which includes 1st mo payment + registration + downpayment.
    $395/mo including tax.
    It's a 24 month lease with 10000miles/yr.

    Can somebody tell me if this was a good or bad deal and also let me know what the money factor was?
    I live in Los Angeles county by the way.
    Thanks!!
  • It sounds good to me but probaby need the details. Hey, can you give me the name of the dealer? I guess we can't share the salespersons name but the dealer name ought to do.
  • sure, it was Pacific BMW in Glendale.
    About details, I don't know what to state besides the ones I wrote above.
  • No problem, ip79. I don't think that you are being aggressive enough with this car's selling price. If you are able to get one at dealer invoice, like you mentioned in your post, the dealer still gets to keep the whopping $5,000 dealer cash that is available on it. I personally would shoot for at least $4,000 below invoice on this car. Even, $3,000 below is much better than the price that you're shooting for.

    Let's work up some lease payments and see what we come up with. According to my calculations, if you were to lease a 2006 BMW Z4 roadster 3.0 with an MSRP of $41,920 and a selling price of $34,255 ($4,000 below invoice) through BMW Financial Services right now for 28 months (this is probably the most attractive term for this model right now) with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $435. With a selling price of only $3,000 under invoice, the payment for an otherwise identical lease would be $474. I used a money factor of .00300 and a residual value of 65% to arrive at these payments.

    Car_man
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  • Hey juanito1. BMW has had dealer cash on the 2006 Z4 for quite some time, but it increased its dealer cash on this model to the current $5,000 / $7,000 level on October 3rd. It is scheduled run through January 2nd.

    Car_man
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  • Hi holoduke. You never mentioned the selling price of the car that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

    Car_man
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  • ip79ip79 Posts: 4
    Thanks again Car_man! Two quick follow-up questions, if i may? 1. When does the incentive on 2006 Z4's end? 2. What can i reasonably expect to get in the traid for my 2004 Accord V6 EX with 46,000 miles in excellent condition?
  • Here is the offer I'm getting from a dealer (who is also telling me that the 2006 Z4 3.0i's are in short supply in the western region...is that true? how can I find out?. Also, the dealer cash does not apply to the 2007, according to the dealer.

    It is a 2007 Alpine White on Black Leatherette Z4 3.0i. It has the fully automatic soft top, the bluetooth and BMW Assist combination, heated front seats, and steptronic automatic transmission.

    MSRP: $40445
    Selling: $39445
    Residual: 63%
    Interest: .0019
    Term: 36
    Miles: 45,000

    Total Due at signing: 1558.87
    Security Deposit: 600
    Payment incl tax: $587
  • No problem, ip79. BMW's current incentive program is scheduled to run through January 2nd. As far as your Accord goes, you can find out approximately what it is worth as a trade by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".

    Car_man
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  • Hi garota. What you were told about the dealer cash not being available on 2007 models is correct. While I am not intimately familiar with what the inventory situation is like for this model in your area, I suspect that most dealers probably are running fairly low on leftover 2006 Z4s by now. I actually was a little surprised when BMW initially introduced its aggressive promotion on the 2006 Z4 because most of the dealers in my area did not even have many in inventory back then.

    As far as the specific deal that you were quoted goes, I believe that the car that you described has a spread of slightly over $3,000 between its full MSRP and dealer invoice price. You are only being given a $1,000 discount on it. Furthermore, BMW Financial Services' current buy rate lease money factor for this car is only .00150 for consumers who pay a security deposit at lease signing and .00165 for consumers who opt to have their deposit waived (returning lessees get it waived for free). It appears as though the dealer that you are working with is marking this car's money factor up to add additional hidden, back-end profit to your deal. If I was in your shoes, I would shop around to see if I could find a dealer that was willing to use this car's buy rate to calculate its monthly payment and to provide me with a larger discount than $1,000.

    Car_man
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  • ip79ip79 Posts: 4
    thank you car_man. you have been a great help!
  • PLEASE HELP ME.. I AM INTERESTED IN LEASING A 06 M ROADSTER-- WHAT IS THE TRUNK MONEY AND FOR A 24 MTH LEASE WITH 15K MILES WHAT WOULD A GOOD DEAL BE..
  • Hi Car_man, here it is

    MSRP was 48,220 (2006 Z4 3.0si, Titanium Silver, Automatic, Premium Package, Heated Seats, Xenon HL, Hardtop Prep)
    10,000 Miles/Year, 24 Months

    Amount due at lease signing or delivery
    1. capitalized cost reduction. $1,809.72
    2. First Monthly Payment. $395.95
    5. Initial Registration Fees. $311.00
    7. Sales/Use Tax. $55.28
    8. Acquisition Fee. $625.00
    10. Sales Tax on capitalized cost reduction. $149.30
    11. Document Preparation fee. $45.00
    12. California Tire fee $8.75
    Total: $3,400

    My Monthly payment is determined as shown below
    A. Gross Capitalized Cost. $38,151.50
    B. Capitalized Cost Reduction. -$1,809.72
    C. Adjusted Capitalized Cost. =$36,341.78
    D. Residual Value. -$32,789.60
    E. Depreciation and any Amortized Amounts. =3,552.18
    F. Rent Charge. +$5,226.33
    G. Total of Base Monthly Payments. =$8,778.51
    H. Lease Payments. / 24 Payments
    I. Base Monthly Payment. = $365.77
    J. Sales/Use Tax. +$30.18
    K. ---
    L. Total Monthly Payment. = $395.95

    These all sound like Greek to me. Could you help me figuring out if this deal is good or not? Thanks Car_man!
  • You're very welcome, ip79.

    Car_man
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  • Hi holoduke. OK, so you were offered a 2006 BMW Z4 3.0si that has an MSRP of $48,220 for $38,152. BMW was providing $7,000 dealer cash on this car, so that means you are being given a dealer discount of a little over $3,000 on it. This car probably has a spread of around $4,200 or so between its full MSRP and dealer invoice price, so the price that you were quoted is probably around $1,200 over dealer invoice. This isn't bad, but I would not be surprised if there was still $500 or so left to work with there. Hopefully you finalized this deal in December. Rumor has it that BMW pulled the plug on its dealer cash support on 2006 models. If that is the case, this car is going to be a whole lot more expensive to lease now than it was when you received this quote.

    Car_man
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  • tnoxidtnoxid Posts: 3
    Hi Car Man,

    I'm looking at leasing a 2007 Z4 3.0 Convertible, with the following spec / terms:

    Premium
    Sport
    Sat Nav
    15K MPA
    36 Months
    Down Payment $2.5K

    I live in S. FL. and I have excellent credit. Although I don't have an actual quote at this time, is it possible to give me an estimate of what a monthly payment might look like on a lease similar to the one I describe above?

    Thanks in advance.
  • This may, indeed, be repetitive but I am wondering about leasing a 2007 Z4 3.0si, from a dealership in Honolulu, Hawaii:
    1. the option of 24 month versus the 36 (there is a 39 month promotion, is that correct?)
    2. Some of the cars available have more options than I want, so is it reasonable to bargain for a lesser amount (I live in Hawaii and heated seats are not exactly in demand)
    3. for the bottom line, I am being quoted on one car $615.52 for a 39 month lease, with 12,000 mile allowance per year. The options are auto transmission, premium package, premium sound (standard I am told), leather, and xenon lights. There is no down payment, but of course one month lease in advance, and the applicable taxes (in Honolulu the tax is 4.67%), and so the total initial payment is $615.52
    Thank you for your advice about this pricing.
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