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BMW Z4 Lease Questions

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  • HI therose400. I am not personally all that familiar with how sales tax is calculated on leased vehicles in your state, but you may be able to find out additional information on this subject by visiting one of the following sites: Florida Department of Highway Safety and Motor Vehicles or State of Florida Department of Revenue.

    BMW just introduced a new lease program for the month of October a few days ago. It is now pushing 30 month leases of the 2005 Z4 instead of 24 month leases. Let me know if you would like me to give you an idea of what the new program is like.

    Car_man
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  • Car_Man,

    Sure, I'd like to know what the 30 month lease program is about. Thanks!
  • Car_man

    My 2003 Z4 (3.0) lease expires 1/06. When my old Z3 lease was up, I leased it again for a second 36 month term, and cut my payments in half. What is your opinion about leasing my Z4 again when this lease expires? Do you have any good suggestions for lease expiration options, other than purchasing the car and keeping/or re-selling or signing up for a new car lease?
  • Hi Carman

    Are the lease numbers the same for a 2006 z4 2.5i and is the dealer incentive for the 2006's or just the 2005's

    thank you
    baasten
  • bdr127bdr127 Posts: 950
    The 2006 Z4 doesn't start production until January......
  • Here you go, therose400. If you were to lease a 2005 BMW Z4 through BMW Financial Services right now for 30 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00100 and 59%, respectively. When negotiating a lease on this car, don't forget to take the $3,000 dealer cash that BMW is providing on the 2.5 and that is has on the $5,000 3.0 into account.

    Car_man
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  • Hi sparkleyes. Whether you should lease your current Z4 again or not depends upon what sort of lease program BMW offers you. If it has an attractive program on used Z4s when your lease is up, you may want to consider leasing your car again. Keep in mind though that it will no longer be covered by its original warranty though. If the lease program is not that attractive, if its purchase option prices is reasonable you can always buy your car at lease end and continue to drive it. If the purchase price is attractive enough a third option would be to purchase your car for less than its current market value and sell it on your own or trade it in for a profit. Lastly, you can always walk away from it.

    Car_man
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  • Hi baasten. As bdr127 just mentioned, BMW has not started producing 2006 Z4s yet. When they begin to arrive early next year, I highly doubt that BMW will offer any sort of dealer cash on them. It might initially offer a special lease program, but it will be different than the one that is available on the 2005 Z4.

    Car_man
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  • When will the 2006 z4 be in showrooms. Anyone know? Currently in a lease with bmw until 12/06. How dioes it work if i wanted to keep leasing the same car until the 2006 z4 model comes in ?
  • I was just at BMW dealership today. I need to decide if this is a good deal over the weekend.

    30 mo. lease

    MSRP 50,370
    money factor: .00125
    15k miles/year
    residual: 60%
    residual value: 30,222
    cap cost: 43,606
    bank (acquisition fee): 825
    prior lease balance: 1200
    adjusted cap cost: 44,806
    mo. payment 579.91 + tax
    amount due at drive off: 1875 (includes bank fee)

    what i'm doing is rolling my last two lease payments into the cap cost and they took off an additional 1200 from the original cap cost bringing it down to 43,606.

    are any of these numbers negotiable more? do you think i can get a better cap cost? what do you think invoice price is for the 50k MSRP? thanks
  • I'm interested in leasing a 2005 Z4 2.5... 36 months with 10k miles per year.

    Is it correct that I can use a 63% residual and .0010 money factor for this deal?

    THANKS!
  • Might also want to know the residual % for a 30 month lease, 10k/year if you have it available. Thanks!
  • tara,
    the deal is only for 24/30 months. if you want 36 i think the money factor doubles. also there's no dealer that gives away the car at the .0010 money factor. one i went to used .00125 the other .00155. others use .0014.

    the residual for 10k mi/year for 30 months i believe is 64%
  • Hi driver17. By "12/06" did you mean that your current lease runs through December 2006 or December 6th of this year? I suspect that you meant the latter. While I do not know the exact date that the restyled BMW Z4 will hit dealers, I have heard that it will be before the end of the year. So you should be able to make it to the arrival before the end of your current lease. Even if you don't, I suspect that BMW Financial Services will allow you to extend your current lease a month or two at your current payment so that you can make it to the arrival.

    Car_man
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  • Hey dugdogg. BMW Financial Services' current buy rate lease money factor for 30 month leases of the 2005 Z4 is .00100 with the payment of a security deposit ant its $625 acquisition fee. If you are paying both of these charges, then the dealer that you are working with is trying to mark-up BMW's buy rate money factor to add additional back-end profit to your deal. This sort of thing is perfectly legal, but can often be avoided by consumers who know what the buy rate is.

    Judging by the price of this car, I suspect that you are looking at the 3.0 model. On a loaded 2005 Z4 3.0, the margin between full MSRP and dealer invoice price is just under $4,000. After taking the $5,000 dealer cash that BMW is currently providing on this car into account, it appears as though you are only being given a discount of around $1,700 on this car. As a result, I think that you should be able to negotiate a lower selling price especially now that winter is rapidly approaching (ignore the last part of that statement if you are one of those fortunate people who live in an area that does not experience winter - unlike myself :cry: )

    Car_man
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  • Hi tara3056. The .00100 money factor that you mentioned in your post is only available for 30 month leases of this car through BMW FS. Its money factor for any other term less than 42 months doubles to .00200. If I was in the market for this car I definitely would go with the 30 month term. Also, the 36 month, 10,000 miles per year residual value for a 2005 Z4 is only 58%. The 30 month, 10,000 miles per year residual value for this car is currently 62%.

    Car_man
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  • thanks car_man
    no i am not paying the security deposit so that's why the money factor is higher i guess. that's fine with me. the diff between .001 and .00125 is not that much and i dont have to drop 1k for a deposit. the acquisition fee however is 825 at both places i've been to. no one seems to budge from that. how do i negotiate that lower if you said it should be 625?

    in any case, i can try to negotiate lower but this is from a friend and i feel weird trying to lowball him. a $600/mo payment on a 50k MSRP car is a pretty damn good deal thanks to the money factor.
  • Dugdogg - that sounds high because we have been given a lease offer on a $42,000 car for $353.70 (includes tax) per month. Granted, we have a small trade-in and are paying some cash out-of-pocket, but still.

    ***********

    It took some negotiating, but we have been given a lease offer that looks like this:

    2005 Z4 2.5
    MSRP: $41,820
    Our purchase price: $36,000
    30 months
    0.0010 money factor
    $1500 trade-in PLUS $2020 cash to cover Acq fee ($625), security deposit ($400), 1st payment ($353.70), and about ~$641 in down payment cash.

    Monthly payment = $336.86 .......... with tax = $353.70.

    The dealer seems to think this is a fantastic offer he is making us, and for the most part, I would agree. (As well he should - we live way up north and are coming up on the nasty winter season, plus it is a 2005). However, we hadn't really planned on having to come up with so much cash up front.

    Bottom line - he's holding the car for us while we make a decision. We're worried about the Z4 in snow, so we're going to ask if we'll be allowed to put snow tires on it.

    Car-man and everyone: Is this a great deal?
  • bdr127bdr127 Posts: 950
    Dugdogg - that sounds high because we have been given a lease offer on a $42,000 car for $353.70 (includes tax) per month. Granted, we have a small trade-in and are paying some cash out-of-pocket, but still.

    The MSRP alone is almost $9000 higher... plus a trade-in and additional cash down. Figure about $35 change in payment per $1000 in total amount leased for 30 months. That right there should explain the big difference in payment.
  • toncartoncar Posts: 3
    Hi
    I got great feedback from all your post. I am currently leasing a 2005 Z4, MSPR of 37095. I got a lease offer of:
    299/month include taxes. $3200 total down include all taxes registration fees etc. Do you think i got a great deal? Please let me know. Wat should my residual value be?
    I m looking to buy the car monday you feedback ASAP would be greatly appreciated.
  • I am in the middle of lease negotiations on a white Z4 2.5.

    MSRP $38195

    Selling Price $34000

    Terms I was quoted: 30 months @ $367, 10K/year, $3400 down(includes TTT)

    It seems that the monthly should be lower. Salesman says he can't get a Z4 that would meet the $299/month lease special. What do you think??

    There are at least 3 dealerships within 200 miles, so I won't hesitate to look elsewhere...just business to me! Loyalty to no one!

    Thanks a bunch!!!!
  • toncartoncar Posts: 3
    I dunno how much you sales tax is, but i think you can do better then that. You may be able to get a selling price of arround 33500, and get 500 less. Plus ask for more miles like 12K trust me you will need them. My dealer told me he is not making any money on my Z4 I think i got a good deal. Plus I live in the north, I can't drive the car in the winter. try to push to 3000 down and see what their reaction. what state u live in?
  • I live in NC. The sales tax is 3%. I sort of thought I could do better. I'm suppose to csll back this afternoon. Thanks!!!
  • This is the deal I think I may go with:

    2005 Jet Black Z4
    MSRP $39970
    Selling price - $35250
    Edmund's TMV- $35396


    Sport Pkg.
    heated seats
    5 sp
    upgrade stereo
    power top
    leather/suede combo
    xenon

    30 month lease 10K mi/yr, $3025 down, $376/month

    How's this? Someone? Anyone? I'm suppose to go pickup in a few days.

    Thanks again!!
  • Oh yeah, it's a 2.5l.

    Thanks!
  • You're welcome dugdogg. If all of the dealers in your area are marking-up BMW FS' acquisition fee it may be difficult for you to get them to use the base $625 charge. You can always tell a dealer that one of its competitors was willing to lease you this car using the base acquisition fee but you will lease through them if they match.

    Car_man
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  • Hi tara3056. BMW is currently providing $3,000 dealer cash on the 2005 Z4 2.5i. After taking this cash into account it appears to me as though you are being offered this car at just over dealer invoice, which is a good deal. The dealer that you are working with is not trying to mark-up BMW FS' buy rate lease money factor of .00100 either, which is a good thing. The only thing that I don't like about this deal is the down payment that you are making. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Z4 would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. The bottom line is yes this is a good deal, but lose the down payment. If you really want to trade your current vehicle in, you can always have the dealer cut you a check for it rather than using the proceeds from it ad a capitalized cost reduction for your lease.

    Car_man
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  • Greetings toncar. You never mentioned the selling price of the car that you leased. This is an important number for anyone who is going to give you feedback on your deal because it enables them to see how much of a discount you were given and it is necessary to estimate a lease payment. If you tell us this number, I would be happy to give you my opinion on this deal.

    Car_man
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  • Hi omegagen. Judging by some of the prices that I have seen other community members quoted on similar cars lately, I would say that you may be able to get the '05 Z4 2.5i that you are interested in for less than the price you were quoted. BMW is currently providing $3,000 dealer cash on this car. Furthermore, there is around a $3,000 spread between its full MSRP and dealer invoice price. You are only being given a $1,200 discount on a leftover convertible as winter quickly approaches. I suspect that you may be able to get around a $2,000 to $2,500 discount on this car if you shop around. This would put the selling price of the exact model that you are considering at $33,195 to $32,695. Also, make sure that the dealer that you are working with is using BMW Financial Services' current buy rate lease money factor of .00100 to calculate your car's lease payment.

    Car_man
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  • Hey omegagen. Despite the fact that you live in a relatively warm state, I still suspect that you can do better than $35,250 on an '05 Z4 2.5 with an MSRP of $39,970. There is $3,000 dealer cash on this car and aruond a $3,000 margin between MSRP and invoice. The price that you were quoted isn't terrible, but I suspect that you may be able to do a little better. If you were able to get this car for $1,000 over invoice, which is more than reasonable your price would be $34,970. I have seen many consumers get this car for around $500 over invoice.

    Also, I don't like the large down payment that you are making on this car. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Z4 would be exactly the same, regardless of whether you had put $3,000 down, or had made absolutely no down payment at all.

    Car_man
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