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BMW Z4 Lease Questions

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Comments

  • When I was looking, there were very few 3.0i's in the system. There were more 3.0si's but most were well optioned.

    Given that sales were up significantly in June (by about 50% I believe), there may be little inventory on the ground.

    John.
  • beninhobeninho Posts: 1
    Just got a Z4 3.0i, 6MT, ZSP, LAXX, Xenon, Metallic for the following terms:

    MSRP: $39,620
    Selling Price: $35,000
    Down Payment: $0
    Capped Fees: $825 bank fee + $499 dealer fee
    Adj Capped Cost: $36,324

    24 months, 12k miles/year
    Residual: 71%
    MF: 0.00041 (after 7 addtl security deposits, $3,150)

    Base Monthly Payment: $367.84
    7% Sales Tax: $25.75
    Total Monthly Payment: $393.59

    Does that sounds like as good of a deal as I think? I was pretty happy with it...

    Thanks!
    Benni
  • alp8alp8 Posts: 656
    The Z4 seems like a good candidate for assuming someone else's lease. What do you guys think? I'm not sure I want a roadster for the next two-three years, so I am thinking of picking up the last year or so of someone's lease.
  • Hey Car_Man

    I just got a quote from a BMW dealer in the NYC area for a Z4 3.0Si. Can yo tell me how this sounds?

    MSRP: $46,670
    Down Payment: $2995
    Fees: $677.34 bank fee ($625 bank fee +tax)
    $379.97 first paymt
    $763.74 tax upfront
    $2,800 security deposit

    24 months, 10k miles/year
    Residual: 71%
    MF: 0.00001 (after 7 addtl security deposits, $2800)

    Base Monthly Payment: $379.97

    If I pay the taxes each month instead of up front, it would come out to $414.84 per month.

    How does this deal sound?
  • I'm such a klutz,

    I forgot to mention that this is for a Z4 3.0Si with premium package, sport package, navigation, Xenon Lights and 6MT

    Thanks
  • Hey Car_Man

    I just got a quote from a BMW dealer in the NYC area for a Z4 3.0Si (with premium package, sport package, navigation, Xenon Lights and 6MT ). Can you tell me how this sounds?

    MSRP: $46,670
    Down Payment: $2995
    Fees: $677.34 bank fee ($625 bank fee +tax)
    $379.97 first paymt
    $763.74 tax upfront
    $2,800 security deposit

    24 months, 10k miles/year
    Residual: 71%
    MF: 0.00001 (after 7 addtl security deposits, $2800)

    Base Monthly Payment: $379.97

    If I pay the taxes each month instead of up front, it would come out to $414.84 per month.

    How does this deal sound?
  • alp8alp8 Posts: 656
    Wayne: I will check it out, maybe even this afternoon (I have back to back to back meetings, however)

    believe it or not, I actually need to buy the Auto, as my back won't let me drive the stick

    :-(
  • Ashamed, the auto is so finicky especially in traffic. This car should have a 6 speed, smooth as sik. Wayne
  • alp8alp8 Posts: 656
    Is there any reason why I should want a new z4 versus a 2005 versus a 2004?
  • dhanleydhanley Posts: 1,531
    I think it's a great deal, chopstikz.
  • alp8alp8 Posts: 656
    Has anyone dealt with the San Mateo dealer? good experience? bad?

    I'm leaning toward a lease on an 06

    if u guys haven't bought all the good ones!!
  • 06 BMW Z4 3.0Si
    Silver Metallic
    Premium Pkg
    Sport Pkg
    Heated Seats
    Xenon

    MSRP 48,070
    Selling price 43,245

    MF 00070

    12K @ 36months

    $1714 Total down

    $488/month including taxes.

    Suppose to pick up this weekend. Any comments????
  • What's the residual? Otherwise this doesn't sound bad to me.
  • You're right, John. There aren't a lot of Z4s out there right now. Most dealers didn't really have that many of them before BMW introduced this extremely attractive lease program on it. That's why I was so surprised that BMW decided to be so aggressive with its current lease promotion for this car.

    Car_man
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  • Hi alp8. BMW has an amazing lease program and dealer cash on the 2006 Z4 right now. This promotion is better than most of the lease programs I have seen on this car in the past. Check into assuming someone's lease on one, but you may find that it is less expensive to just lease a brand new one right now.

    Car_man
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  • Hi chopstikz. 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 thoughts on this deal if you let me know what this car's selling price is.

    Car_man
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  • Hi Wayne. I am sorry to say that we do not allow community members to advertise their vehicles in these forums. I had to delete your post.

    Car_man
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  • Hello crush3466. The dealer invoice for the car that you described is around $43,800. So, the price that you were quoted is around $550 below invoice, or $1,445 over invoice once the $2,000 dealer cash that is available on this car is taken into account. I think that the supply of Z4s is getting fairly tight so while I normally would advise you to try to get a larger discount than this you may not be able to. BMW Financial Services' current buy rate lease money factor for a 36 month lease of an '06 Z4 3.0si is .00050 with the payment of a security deposit at lease signing. At least try to get the dealer that you are working with to use this car's buy rate to calculate its monthly payment.

    Car_man
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  • Sorry about that, I should have realized that. Wayne.
  • Thanks Car_man!!

    I don't have the exact numbers in front of me, but I'll get them when I get home. Right now I'm at $485/month including taxes for 12k @ 36 months with $1711 total due at signing. MF is .00060 They allowed me to ordered the car with the options I wanted. MSRP $48070. Should be here in couple of weeks. LMK what you think.
  • TODAY I AM THINKING ABOUT THIS DEAL 06 Z4 3.0I
    MSRP $43,600
    24 MTHS
    12,000 MILES
    $510/MTH INCLUDING TAX
    IM RETURNING A 04 SO NO DEPOSIT
    ONLY 1ST MTH AND TAG AROUND $700 TO START
    THEY ARE ONLY DISCOUNTING THE CAR ONLY $1800 PLUS THE $2000 INCENTIVE MONEY
    THEY SAY THIS IS A NO MONEY DEAL BUT IT SEEMS THAT THERE IS MORE THAN $1800.. SHOULD I DO BETTER
    ALSO THE CAR IM TURNING IN HAS 4MTHS LEFT ON THE LEASE WITH $500/MTH LEFT
    THEY SAID THAT I SHOULD TELL BMW WHEN I GET THE FINAL BILL THAT I JUST BOUGHT A NEW CAR AND MY WIFES BMW WILL COME OFF LEASE IN JAN.
    AND I WILL BE GETTING ANOTHER BMW THEN. THE DEALERSHIP SAID THAT BMW WILL LET ME OUT OF THE MONEY I WILL OWE THEM. WHAT DO YOU THINK

    DO YOU THINK I SHOULD BE ABLE TO GET THIS CAR BUT INSTEAD OF 12K MILES MAKE IT 15K MILES AT THE SAME PRICE OF $510/MTH
    THEY WANT ME TO MAKE THE DEAL TOMMORROW BUT IM NOT SO SURE AFTER SEEING THE DEAL THE OTHER PERSON MADE ON THE SI WITH $1700 FOR UNDER $500/MTH
  • Car_Man, here's a simple question: why do manufacturers define lease residuals as a percentage of the sale price? In theory, the residual is what they expect the car to be worth after the lease is over. But the market value of a used car has nothing to do with what the original buyer negotiated for a purchase price. If I buy my car for $40K, and someone else negotiates a better deal on the exact same car for $35K, why should the residuals differ?

    Thanks - you provide awesome info!
  • dhanleydhanley Posts: 1,531
    "why do manufacturers define lease residuals as a percentage of the sale price?"

    They don't. Your logic is correct; residual is defined as percentage of MSRP, not sale price.
  • vsaxenavsaxena Posts: 211
    First of all do not assume that BMWFS will waive the payments if you are leasing a new BMW. The dealer will tell you anything to sell the car.

    I think you can do better than what you have been quoted. I would aim for a puchase price of Invoice - Incentive + $1000 (profit), and the base lease rates. BMW offers the dealers a significant amount of money which is structured differently than the traditional holdback so the dealer is making a lot more than $1000 you are paying over invoice.
  • Hi Car_Man, my dealer quoted me a residual value of 58% for 36mo/10k. Shouldn't it be 36mo/12k at 58% or 36mo/15k at 57%?
  • JUST CAME HOME WITH MY NEW CAR--

    MSRP $43,600 IT HAS SPORT AND PERFORMANCE PACKAGE AND AUTOMATIC AND HALOGEN LIGHTS

    24 MTHS-- $508 including tax 12,000 miles/year

    i also bought the tire and wheel insurance just incase we pop or ruin a wheel. it cost another]$400 so it came out to $526/mth including the policy. i feel that i did pretty good but was wondering if i could have gotten the dealership to come off the $499 dealer fee
    thanks and let me know
  • what was cap cost and how much did you put down payment seems high
  • I ONLY PAID $726 UP FRONT AND THAT INCLUDED THE FIRST MONTH'S PAYMENT AND TAGS. I DIDNT PUT ANY MONEY TOWARDS CAP REDUCTION. IT IS LIKE A NO MONEY DOWN DEAL. I DIDNT EVEN HAVE TO PAY ANY DEPOSIT AS IT WAS MY SECOND CAR I LEASED.
  • addiaddi Posts: 33
    Hello Car_Man:

    I am now in the 180 day zone with my 2004 BMW 525i.
    When you get a chance, would you please let me know about
    the following:

    24 months = 61%
    30 months = 56%
    36 months = 51%
    The MF for all three above was .00319

    Thank you for your info. I appreciate.

    Addi.
  • Don't worry about it, BeamerMan. It happens all the time.

    Car_man
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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
This discussion has been closed.