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BMW Z4 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi zhamid. See my previous post for this car's money factor. BMW FS' 36 month, 10,000 mile per year residual value for the '07 Z4 3.0i roadster is 66%.

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  • Car man, what do you know about transferring your lease? Is it a good idea with BMWs?
  • tristatetristate Posts: 1
    Hi, guys,

    The special offers in July:
    http://www.cincinnatibmw.com/lease/leasemain.htm

    I am interested in leasing a 328i or Z4. Do they seem like a good deal? Can I still negotiate based on this offer?
    Thanks!
  • kyfdxkyfdx Posts: 28,036
    Those are the nationally advertised leases... Most of the time, they leave a little more negotiating room..

    That said, it is sometimes difficult to even get the standard deal out of Cincinnati dealerships..

    The Z4s and X3s have the best lease programs, right now.. The 3-series lease program is decent. How well you do, depends on how well you negotiate.

    regards,
    kyfdx
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  • New to this site. Visited a NYC dealer to ask about leasing a 2007 3.0i. Didn't know about leasing until now, but here's my deal:

    Metallic paint
    Sport Package
    Auto power roof

    I think that was it. MSRP $39,400. Dealer offered $37,700 and suggested a great deal on a two year lease with 10K miles per year. Due at signing: sales tax, first month, security deposit and $625 for something I don't recall.

    Monthly payment: $407 per month. Good deal?

    Thanks for any input.
  • I recently negotiated the following deal with a local dealer in New York (Long Island, not NYC) and per the sales manager, they cannot go a dime lower. I don't truly believe this, but wanted see what opinions I can get here.

    The figures that they claim that they are using to determine my payments are in line with the current monthly promotions (money factor .00125 (or 3% interest rate), 63% residual of MSRP on a 36 month, 15000 mile per year lease.

    The MSRP they are using is $43,725 (exactly what I came up with in equipping the car)

    They say that the cash sale price, they cannot go any lower
    than $41,725.

    The invoice price is $40,220, and reasonably, I was expecting to be able to get the cash price down to $40,720 ($500 above invoice).

    The numbers that I am being given are as follows:

    Total Initial Charges $5004.92
    Breakdown: 1st payment $425
    Security Deposit $450
    Acquisition fee: $625.00
    Fees & Ins: $22.50
    Upfront Taxes: $1537.42
    Cap Reduction: $1900.00

    $425 per month total as monthly payment.

    After negotiating further, I was able to get down to $420, with slight modifications to the numbers above and a drop of the cash sale price to $41,556.

    I inquired as to what the price would be if I went without the $1900 cap reduction cost, and it came out to be $475.55.

    Another mater is of 2 accessories I wanted to add. The rear Decklid Spoiler ($220 + 1 hours labor to install @ $112 per hour) and the wind deflector with removable centerpiece ($356 + 2 hours labor to install @ $112 per hour). But the strange thing here is, that I think they may be ripping me off on the parts. These numbers I got from the same dealer's parts and service depts. However the salesperson claims that the parts cost hundreds of dollars more and would cost $1400 to install, (my figures are closer to $960), but he would install then for a sale price of $800 added to my down payment. I fear that they are trying to roll the surplus of the misquoted parts into the cash price of the car to boost my payment.

    Any opinions?

    My dream would be tax and fees upfront.

    Cash price of $500 above invoice.
    Parts installed at the same $800 on top of that.
    And a monthly payment of $460

    Is that a high? Or too low a figure?

    Please help, I need to make a deal by weeks end, or forget it alltogether, so any opinions will mean alot..
  • P.S.
    The $1400 to install I meant was for both accessories as well as the installation charges. My number again for the same, came to around $960.
  • BTW, has anyone tried installing the Wind Deflector with removable centerpiece? The dealer quotes 2 hours labor. I think I could do it myself if no drilling is required and save another $224.
  • nyccarguynyccarguy Stamford, CTPosts: 7,468
    Taxes into your payment & pay $0 cap cost reduction both for the same reason:

    If the car gets totalled or stolen at anytime during your lease (you could get clocked by an Expedition on your way out of the dealership) both the Cap Cost Reduction and UpFront taxes will be gone (good luck getting those taxes back from Gov. Spitzer.

    Right now you're at $1505.00 over invoice (Did you add $300 MACO fee & $180 Training Fee to your invoice price?). $1000 over invoice on any new BMW in our area (I live in Westchester) is a pretty good deal (My Dad is leasing a hot selling '07 X5 for $1000 over invoice). I don't know if you'll get $500 over invoice on a Convertible in July, maybe in December.

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • Thanks for the advice, makes sense. I don't think I was using those fees, actually never heard of them. 300 MACO fee & $180 Training Fee? What is the MACO fee? I think then that I might be in better shape than I thought. Waiting for the dealer;s final verdict on whether they can accommodate me on my $460 per month payment. Do you think they will find that doable with $0 down? They have been getting harder and harder to get on the phone after I became more savy as a buyer, my salesman seems to lose more interest in my business as more comes out of the bottom line for them. I am dealing with Hassel in Freeport, but they seem to be driving me towards Rallye. Any opinions on those dealers or on how feasable my deal woudl be?
  • Are these 2 fees added to the invoice in total to arrive at the "actual" invoice?

    ie: $40,885 invoice = $41,365?
  • nyccarguynyccarguy Stamford, CTPosts: 7,468
    The MACO fee is an advertising fee that BMW charges each dealer on each car and it is printed on the invoice as well as the $180 training & Services fee (I'm not sure what this is, but it is too added on to every invoice of every car).

    I've never dealt with the LI dealers, but they may be reluctant to give a great deal due to the plethora of wealthy people living on that floting traffic jam. I ran into the same problem in Westchester trying to negotiate a lease for my Dad's '07 X5 (a much hotter selling vehicle than the Z4). I ended up getting the car from a dealer in Rockland County (where my Dad lives). He gave my Dad such a good deal on the X5, that he's trying to find an '07 X3 for my wife at this moment.

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • Here is one thing that I don't understand. How they figure out the cost to charge on dealer installed options...

    For example, The Z4 alarm system with interior motion protection costs $269 if you buy if from parts. The same dealer quoted 1.5 hours labor and no additional parts needed to total a pretax figure of $444 installed.

    However, if I were to add this very same item to my car when I purchase, that very same dealer will charge me $900 for the part and labor.

    Why is this? Is this universally common? Or a dealership scam?
  • nyccarguynyccarguy Stamford, CTPosts: 7,468
    It is pretty much up to the dealer what they want to charge. Personally, I think car alarms are a waste of time & money. NOBODY pays attention to them at all except if they go off for too long.

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • wmsc998wmsc998 Posts: 4
    What is the Z4 lease money factor for August 07? Is it different for a 3.0, 3.0s and/or M?
  • bds231bds231 Posts: 6
    On a z4 3.0i lease:

    Options include:
    Metallic paint
    Auto
    Leather
    Heated Seats

    12K Miles/year

    MSRP: 40,575
    Invoice: 37,405 + MACO + training (Total of ~37,900)
    Selling Price: 38,490

    Drive-off: 1321.44 (broken down as follows)
    $479.44 1st payment and tax
    $28 E-file
    $314 License
    $500 Sec. Deposit

    Money Factor: .00125 (BMW FS' July rate)
    Residual: 65%

    Monthly payment: $442.90 + tax = 479.44 per month (CA tax = 8.25%)

    I'm pretty happy with it -- I think maybe I could have gotten the selling price down another $100-200 with a bit more negotiating, but considering BMW FS' money factor seems to have increased in August (judging by the lease calculator on bmwusa.com -- please correct me if I'm wrong), I feel very lucky that I pulled the trigger on July 31!

    BTW - shopping on the Internet is amazing -- don't even bother going to the dealership. I got quotes online that were $1,000+ better than what the same dealerships gave me in person, plus I was able to negotiate between two dealerships 2+ hours drive apart.
  • bds231bds231 Posts: 6
    Forgot to note -- Acquisition fee + document fee ($870) were capitalized in the lease to minimize drive-off.
  • diyediye Posts: 45
    Just pulled the trigger on a Z4 3.0si, Auto, with Sports package, leather, Xenon light, heated seat.

    2007 Z4 3.0si lease for 30 months, 10k/year

    MSRP: 47,335
    Selling Price: 37900
    Dowpayment: almost zero
    Residual: 65%
    Money factor: 0.00315
    Bank Fee: 825 ( rolled into monthly payment )
    Total Drive Off: $1000 ( 1st Month, Registration )
    Monthly Payment: $478 + tax.

    I think it's a decent deal, but not great. My money factor is awfully high, even though I took advantage of the the 6500 rebate on the car.
  • Does that 478 include the tax?
    I got an 07 z4 3.0si, msrp 50,495 when mf was .001 and residual was 66% on 24 month lease in NY for 511 with taxes. Of course bank fee of 625 was paid upfront.

    If the tax is rolled in, then excellent deal, if not it's still pretty good.
  • diyediye Posts: 45
    No, the tax is not included in the $478.

    One would naturally think it's a much better time to lease a Z4 with the $6500 rebate, but it's not the case.

    Compared to last month when there was NO $6500 rebate, but residual was higher and money factor was much lower, the monthly payment came out about the same.
  • vic528ivic528i Posts: 4
    Can someone please tell me the BMW Financial Services Lease residuals and moneyfactors for Z4 roadster?
  • planoplano Posts: 1
    I talked with a dealer yesterday here in Texas about a 3-year, 36,000 mile lease on a Z-4 that stickers at $45,350.

    He's a friend of a friend so I just asked him for the bottom line number and it's O drive off and $570 per month.(I pay the TT&L)

    Compared to some of the other posts I've read here that number seems high to me. What does the expert think? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes, wmsc998, BMW changed the Z4 lease program for August. Its money factor is worse this month, BMW Financial Services' buy rate is now .00275 on the 2007 Z4 3.0i roadster, 3.0is roadster, and M roadster for consumers who pay a security deposit at lease signing. The reason why BMW's August money factor is higher is that it introduced new dealer cash on the Z4. Specifically, it now has $5,000 on the M roadster, $5,500 on the Z4 3.0i roadster, and $6,500 on the Z4 3.0si roadster. Make sure to use this dealer cash to negotiate an attractive selling price on the Z4 that you are interested in.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new Z4, bds231. Thanks for taking the time to share the details of your lease with everyone. Make sure to stop by the new Dealer Ratings & Reviews section of this site to share your thoughts on your recent dealer experience with others. Now drop that top and enjoy the rest of the summer :shades: .

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi vic528i. This car's lease program varies by trim level, term, and mileage allowance. you never mentioned what any of these variables are, so for now I will assume that you are interested in a 36 month lease of a 2007 BMW Z4 3.0i roadster with 12,000 miles per year. Let me know if you want something different. BMW Financial Services' current buy rate lease money factor and residual value for a the aforementioned parameters are .00275 and 57%, respectively. When negotiating your lease, make sure to take advantage of the $5,500 dealer cash that BMW is currently providing on this model. It will help you to negotiate an attractive capitalized cost.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi plano. You never mentioned the selling price of the Z4 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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  • So i was talking to a dealer from Texas, im in New York planning to relocate to Houston, and this is the quote i recieved from this particular person:

    2007 Z4 3.0si
    24month 12k/mi
    MSRP $51,325
    Sale Price - $46,325 + T,T,&L
    12K miles: 68% Residual
    Money Factor : .00330
    Payment - $911.34
    Due at Signing is 1st payment and title and license fees!

    I personally think this is way too much.

    There's also a $1,000.00 shipment fee, because they couldnt find my car in Texas, they had to Ship it from Florida... is that considered a hefty transport charge?

    Below is the figure's i got:

    M.S.R.P. $51,325
    Sale Price - $46325 - 6500 Dealer cash = 39825
    (39825-34901)/ 24 = 205.17
    12K miles: 68% Residual
    Money Factor : .00275
    Payment - $ 205.4 + 205.17= 410.57

    Im not sure how to calculate the Tax with the payment i have above, since being in Texas, but id assume id hit around 550/month. Is this way to low or are my calculations approx correct? This isnt including the Transport fee because im not sure if $1,000 is a decent price. if it is, then ill add an additional 40 dollars on the monthly payment, $590.00/month

    I noticed he has a higher MF (.0033) then what i've seen in this forum, (.00275) for august.

    Also i dont think he included the Manufacturer to dealer cash of 6500 in his calculations.

    this is what he told me after i said if he can lower the payments because 911 is just way too much...
    "The best I can do on my end is get you to $899, but any lower and you will have to put some money down!
    Why don’t you go the 36 months? Or put some money down?
    Reminder: You are getting a $51,000 car! What did you have in mind?"

    Car_man or anyone, can you lend me your assistance!
  • kyfdxkyfdx Posts: 28,036
    Just run away from this guy...

    You might be calculating the $6500 FTD cash, but he obviously isn't... Plus, he is taking the maximum markup on the money factor..

    This is a car that isn't selling (ergo the $6500 in dealer cash), but this dealer is trying to make a $7000 gross profit on the vehicle..

    Find a BMW dealer that has the car you want.... then negotiate:

    Invoice + $1000 - $6500 dealer cash...

    With tax, you should be in the low $600/mo.. (tax on a 24 month lease is a killer in Texas).. A 36 month lease would help you on the tax, spreading the same amount over 36 months, but probably wouldn't lower your payment, with the 10% drop in residual..

    regards,
    kyfdx
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  • Thank you very much for your insight, i def will try to find a better deal as this dealer doesnt seem like hes going to budge..
  • nyccarguynyccarguy Stamford, CTPosts: 7,468
    Why not get the car in NY and have it sent to Texas? Where in NY are you?

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

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