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BMW Z4 Lease Questions

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  • To you financial wizards, please help. I am new to leasing and have never leased a bmw. Here is what I want to get.

    2007 3.0si roadster

    Titanium Silver Metallic $475
    Packages/Options:
    Sport Package $1,200
    STEPTRONIC Automatic Transmission $1,275
    Premium Package $2,750
    M Sport Seats $500
    Heated Front Seats $500
    Xenon Headlights $700

    Total $50,575

    I was able to talk down the msrp $2000, so now the total cost of the vehicle is $48,575. IS THERE DEALER CASH AVAILABLE?

    The lease structure is
    -0 capital cost reduction
    -NY taxes in payment
    -sec., acquisition fee, title, upfront I'm not sure how much that is

    The guy told me 559 month for 36month 10k a year. Now that doesn't sound very good to me. I read that some people were getting their z4's similary priced for 450 a month on the 2006 models.

    Can you tell me the money factor and residuals for the 24 and 36 month lease. I just want to pay the least amount for this car. That sounds funny, I am sure everyone does. Please help! I want this car soon and the program will change on Monday, so I locked in the rate already now.(Does that mean if the dealer marked up the rate, I can't negotiate it down if I found out they've been pumping the rate up after locking in with BMW FS?) THANKS AGAIN ALL!
  • expungedexpunged Posts: 4
    Howdy do.

    07' Z4 Coupe - 36 Months - 15,000 Miles
    Silver Gray Metalic
    Dream Red Leather
    Premium Package
    Sports Package
    Heated Seats
    M Sport Seats

    MSRP - $46,020
    Negotiated discounts - $1524
    Inception Fees - $2600
    Down Payment - $0
    Money Factor - 0.00150
    Residual - 52$
    Monthly - $720 Tax Included

    Could be lower? I have been aiming for $680-699 but the dealers wouldn't budge from $719 - $730.

    Thanks.
  • expungedexpunged Posts: 4
    dieselzaf - I believe the residual for 10k 24 months is 65% and 57% for 36 months.

    Car_man, for 15k 36 months, I am being given a residual of 52% by a dealer, but isnt it 53% ?

    Thanks.
  • cocobatcocobat Posts: 2
    Looking at leasing a 2007 Z4M coupe with premium pkg, nav, bmw assist with bluetooth, and heated seats. getting 36 month/15K lease. early negotiations have it at $3000 out of pocket and 750/month. is this a poor/avg/good deal? Thanks
  • wl33wl33 Posts: 4
    I know BMW Financial has a lease payment option called "PrePay", where, as the name would suggest, you pay the entire amount of the lease up front. Supposedly this saves a bit of money, which I'm assuming is the interest.

    How does this work? If the car is totalled under a PrePay lease, do I lose the whole amount?

    Also, how does credit approval work in this case? Is a credit check even done, or is it treated similar to a cash purchase of the car?
  • donnabgood1donnabgood1 Posts: 39
    Actually, it is HARDER to qualify for a prepay lease..because the bank loses touch with you for 24, 36 months..I have only seen credit scores of above 800 qualify..and a lot can happen during that time when they are not sending you statements every month, so that is why finance companies have strict guidelines on who can qualify.. I personally never understood the attraction of a prepaid lease, other then some people don't like to receive monthly bills...but Easy Pay can take care of that quite handily where BMW debits it out of your bank account every month. Is there a link available why prepaid leases are a bad idea? thought I saw it once on here..if someone could repost that link it would be much appreciated..
  • delferdelfer Posts: 29
    of this:

    BMW 2007 3.0SI
    Base Price $42,400.00
    0205 STEPTRONIC Automatic Transmission 1,275.00
    0ZPP Premium Package 2,750.00
    0ZSP Sports Package 1,200.00
    0494 Heated Front Seats 500.00
    0522 Xenon Adaptive Headlights 700.00
    0609 Navigation System 1,800.00
    Destination and Handling 775.00

    TOTAL AS EQUIPPED $51,400.00
    SELLING PRICE $48,380.00

    Term 36 Months
    Mileage 12,000 /year
    Residual Value $33,410.00

    Cash on Delivery $1,010.25
    Monthly Payment $533.76
    Tax (8.25%) $44.03
    Total Mo. Payment $577.79

    Here are the specific questions I plan to ask the dealer:

    1. What is the breakdown of cash on delivery?
    2. What is the residual factor and money factor for this quote?
    3. Will you accept a $500 over invoice offer or $47,820 versus $48,380?

    My questions to you kyfdx, are:

    1. For this car this month, can I do better than $500 over invoice? Is it even possible to get the car from under invoice as "fightingchance.com" claims, if I wait until the end of the month?

    2. If my offer of $47,820 is accepted, how should that break down as far as:
    a. Amount due at signing
    b. Monthly payments

    3. What should the residual and money factor be?

    Thank you for your quick response. I am looking to close this deal in the next few days, if possible.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi delfer. BMW's lease program for 2007 models is completely different than it is for 2006 models. In fact, it is no longer providing lease support on '06s. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 BMW Z4 3.0 Convertible with 15,000 miles per year are .00125 and 63%, respectively. You can use this lease program, along with the MSRP and selling price of the car that you are interested in to estimate what your lease payment should be. If you provide me with the pricing data I would be happy to work up a sample lease payment for you.

    Car_man
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    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey delfer. $1,000 over invoice isn't that bad for a lease of a BMW Z4 heading into top-down season. You already provided me with this car's selling price, so all I need to estimate its monthly payment for you is its MSRP.

    Car_man
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    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello esfoad. You never mentioned the selling price or MSRP of the Z4 that you are interested in leasing. These are important numbers 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 this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle 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 these numbers are.

    Car_man
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    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome dieselzaf. Since you are new to leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    BMW is not currently providing any dealer cash on the 2007 Z4. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 BMW Z4 3.0si roadster with 10,000 miles per year are .00125 and 66%, respectively. The numbers for an otherwise identical 24 month lease are .00125 and 76%.

    Car_man
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    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi expunged. Most of the deals that I have seen have been on Z4 roadsters, not coupes. I'm not sure if the market is much different for the coupe. The dealer invoice for the car that you described is around $42,500. That means that there is a spread of around $3,500 between this car's full MSRP and its dealer invoice price. That puts you at around $2,000 over invoice. I personally would shoot for another $1,000 off and see what happens. You may want to stop by the following discussion to see if any other community members have purchased a Z4 coupe lately and if so how much they paid for it: "BMW Z4: Prices Paid & Buying Experience".

    When you arrive at a price that you are comfortable at, make sure that the dealer that gives it to you uses BMW Financial Services' buy rate lease money factor of .00150 to calculate your monthly payment.

    Car_man
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    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi expunged. BMW Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 BMW Z4 Coupe with 15,000 miles per year are .00150 and 52%.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings cocobat. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers 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 this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle 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 these numbers are.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi wl33. I believe that lessees are entitled to a prorated refund for the unused portion of their pre-paid lease if their vehicle is totaled in an accident or stolen and never recovered. You definitely should check with the F&I department of the dealership that you are working with or directly with BMW Financial Services to make sure that this is definitely the case before entering this type of lease though. I believe that BMW FS does still run a credit check on consumers who pre-pay leases. In fact, lessees still have to pay interest on pre-paid leases. BMW FS' normal lease money factors are reduced by .00080 for consumers who pay for their entire lease in advance.

    Car_man
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    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey delfer. The dealer invoice price of the car that you described is $47,320. That puts the selling price that you were quoted at right around $1,000 over invoice, which isn't bad for a convertible heading into prime top-down season. Obviously the $500 over invoice that you are shooting for is better though ;) . I highly that you will be able to get a Z4 for below invoice right now. You still may want to stop by the following discussion to see how much other community members have paid for similar cars lately: "BMW Z4: Prices Paid & Buying Experience".

    Using the prices that you mentioned in your post, an MSRP of $51,400 and a selling price of $48,380, and BMW Financial Services' current lease program, I estimate that your 36 month, 12,000 miles per year zero down, pre-tax monthly payment should be around $498. I used a money factor of .00100 and a residual value of 65% to arrive at this payment. With this deal at lease signing you would have to pay your car's first month's payment of $498, a security deposit of $500, BMW Financial Services' $625 acquisition fee, and any required state taxes or fees.

    Car_man
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    Prices Paid Forum
  • esfoadesfoad Posts: 210
    Thanks Car Man. The list is 51,700. The net is 48,500. This is without the wind blocker which was thrown in as a discount off the payment due at delivery along with the $629 last payment on my current lease for a total discount of $970.00. Is this enough information?
  • dieselzafdieselzaf Posts: 8
    I am curious. Who here has gotten or heard of someone getting a z4 3.0si lease at invoice price? Someone here mentioned it a few times.

    I am assuming $500 over invoice is a very good price. At invoice just seems nuts to me. Dealers around me all seem to want at least a grand over invoice.

    Where do yo guys get your invoice information from. These websites all very in invoice such as edmunds and carsdirect.

    Just curious, what is the lowest payment anyone has seen on a z4 3.0si?
  • seekupseekup Posts: 3
    Hi Car_man! Do you know what the money factor and residual would be if I lease a 2006 M roadster? I know you can get a good deal one, but may want to lease it.

    Thanks for a great forum. Pam
  • jen4227jen4227 Posts: 2
    CarMan, help! I have been offered the following lease on a 2007 BMW z4 si roadster:

    Metallic Stratus Grey
    Black top
    Premium Package
    Steptronic automatic
    Sports Package
    Zenon headlights
    Navigation
    Heated Seats
    M Sport Seats.

    24 months/10,000 miles
    MSRP 52375
    $1850 due at signing, for drive off
    $535 a month.

    Are there more questions I need to ask. It's Southern California. Is this a good deal? Thanks!!!
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