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BMW Z4 Lease Questions
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Plus, if you do have cosmetic issues, or tire problems, you'll only be able to amortize the costs over 5-6 months.. There isn't a big risk, but it is there, nonetheless..
The price looks good.. but, they've had good Z4 lease deals off and on for the last 2-3 years.. I'd look for a lease that has a little longer term remaining (at least so you can drive it in nice weather).
regards,
kyfdx
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
$329 First month's payment
$2,500 Down payment
$350 Security deposit
$3,179 Cash due at signing
Plus my wife hated it. Said it looked like a Squid. Several others provided comments about the looks of the car that are not suited for this forum. :blush:
So, best of luck with the Porsche and come back once in a while to give us the true feelings of a Boxster owner who also seriously considered the Z4.
Car_man
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Car_man
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So far I love the Boxster. Wife and I have been taking lots of weekend trips, everything fits perfectly in the car. Even with the 19" rims and the low profile rubber the car rides like a dream. My only complaint would be the blind spots when the top is up. Then again I am coming from a 4 door car where looking over my left shoulder looked out the back side window, now it looks into a black top. I never drove the Z4 with the top up so I can't really compare. Thank goodness for heated seats and the wind deflector, with those I can keep the top down almost all the time. Driving last night with the top down on the freeway was no issue at all, even at speeds up in the 90's. I also have to say I really like the fact that I can put the top up or down while the car is moving (up to 30 mph), something I was told the BMW couldn't do. Even in the short time I have had the car it has been great to be able to drop the top on a whim, or raise it while getting a sunburn in slow traffic (note to self, keep a hat and sunscreen in the car at all times ) :shades:
I think I would have been happy in the Z4 too, and certainly would like the extra money every month, but I had the opportunity to grab the Boxster so I did.
Best wishes to all, I'll keep checking back to hear how people are enjoying their Z4's
With my preference going to the Cayman.
After driving the BMW then the M Coupe you realize why the Porsche is the better car.
But I digress..I am leaning to the M Coupe for the economics of it.
Carman. Im sort of a lease beginner.
Im turning my wifes BMW 325i in for a M Coupe 2 months early.
Do you think its possible to put down 1st month and tags and get a payment of $575 including tax for 2 years with current programs?
The car is a tick over $54K I tried a lease calculator but it got me nowhere.
The sticker price is: $54,725
SELLING PRICE is $44,320
Here are the two offers I got from the guy:
No money down,$616 a month. 24mo only with 10,000miles per year.
$2500 down, $504 a month. 24mo only with 10,000miles per year.
You great insight is appreciated.
http://www.leaseguide.com/calc.htm
The catch being that $4500 of the down is multiple security deposits which I get back at the end.
Not sure about this...any info about this security deposit issue would greatly help.
I'm not 100% sure on the figures but a lease on a Z4M should look something like this at the moment (this is for my state of Oregon so your tax and tags will vary)'
Z4M with premium package;
MSRP: $55,200
Selling Price: $44,000 (Edmunds TMV - marketing support of $7,500)
Lease Term: 24 months
Money factor: 0.0275
Residual: 68%
Security deposit: $450
Acquisition fee: $550
Tax and tags: $128 (Oregon!)
So, with,say, $2000 down (total down here would be $3128, gives us a monthly of $455 + tax. Of course, this will be higher for states with higher DMV fees. Also, you'd need to find a dealer willing to sell at the TMV minus the marketing support.
.
Dealer discount:
MSRP $54,725
SELLING PRICE $44,320
So not sure why my payment if so different from yours.
I appreciate you posting a response.
I have always bought in the past, but leasing is looking attractive (putting less miles on the car and keeping only four years now).
I see you quoting 24 month leases, but the dealer says the 36 month is a much better deal. Comment? He quoted residual of 69% but I saw 68% in a post in this forum.
I've worked a tentative discount that will apply either way (sale or lease). Nice thing about lease is not having to pay the sales tax (8.25%) up front.
I love the car (except for the run flats).
Not sure if this applies to other models.
24 mo. residual on 3.0si - 69%
24 mo. residual on 3.0m - 68%
36 mo. residual on 3.0si - 59%
36 mo. residual on 3.0m - 57%
Slim pickings on 2007 Z4 unless you want an automatic, coup, or M.
Watchout. Some dealers are trying to sell new leftover 2006 Z4 M with the same discount available on the 2007 M's ($10K at least).
Let's work up a lease payment on the car that you're interested in and see what we come up with. According to my calculations, if you were to lease a 2007 M Coupe that has an MSRP of $54,725 and a selling price of $44,320 through BMW Financial Services right now for 24 months with 10,000 miles per year, your zero down, pre-tax monthly payment would be around $585. With $2,500 down this payment would drop to around $474, but it is not a good idea to make such a large down payment when leasing. Consumers who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered.
Car_man
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BMW Financial Services provides a .00007 money factor reduction for every additional security deposit that lessees make. If you were to make the maximum of seven additional deposits, you would be able to reduce the money factor that is being used to calculate your monthly payment by .00049. This would drop the monthly payment on the lease that I just calculated for you by around $39 per month, to approximately $545.
Car_man
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Generally speaking, the longer a lease is the lower the monthly payment will be. A 36 month lease of a BMW Z4 would definitely have a lower monthly payment than a 24 month lease would right now. In case you are interested, BMW Financial Services' November buy rate lease money factor and residual value for a 36 month lease of a 2007 BMW Z4 3.0 roadster with 15,000 miles per year are .00275 and 55%, respectively. This car's 12,000 mile per year residual value would be 2% higher and the 10k residual would be 3% higher than the 15k resid.
Car_man
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Car_man
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Selling Price $47,320.00
Term: 24 Months
Annual Miles: 10,000
Residual 66%
Residual Value $37,831.20
Money Factor 0.00310
First Payment $606.74
Acquisition Fee $825.00
Security Deposit $650.00
Cash Down $2,000.00
Sales Tax $1,046.50
DMV Fees $676.25
Doc Fee $50.00
___
Due at Signing $5,029.84
Monthly Payment $606.74
Anyone know if this is a good deal or not? It's a 2007 Z4 M Coupe with Premium Pkg, Power Front Seats + Heated Seats, BMW Assist, Logic 7, and Nav.
2 year, 10K miles per year.
This is in SoCal.
My dealer gave me following lease deal.
Shall I take it?
Z4 roadster 3.0i
Titanium silver
Premium Package
Sport package
heated seats
Xenon headlights
M Sport front seats
total suggested $45,050
lease price $36,050
24 mont lease
residual $30,634 (68%)
lease monthly foctor 0.00310
protection plan $90
total added caps $825
adjusted cap sost $32,465
cash cap reduction $4,500
total sales tax $1,014
base monthly rental $271.9
security deposite $300
total initial fees 235.25
amount due at start $5,746.16
total monthly $296.91
This is the last car at the dealer lot.
I see that you are considering making a $4,500 down payment on your lease. In my opinion, that is way too much money to put down. Consumers who make large down payments on leases risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. You would be better off paying as little money as possible out of your pocket at lease signing.
One thing that you should use to reduce your car's capitalized cost is the $2,500 dealer cash incentive that BMW is providing on leases of the '08 Z4 3.0i through BMW Financial Services right now. Negotiate a selling price that is as close to dealer invoice as possible and then have the dealer subtract this dealer cash.
Car_man
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What are the current residuals and money factors for the '07s assuming a 36/39 month lease at 15,000 miles per year?
Also, I assume that the TMV on Edmunds takes the $7500 rebate into consideration when it gives you the "price others are paying." Is this right?
Thanks!
2007 roadster 3.0si
premium package, sport, cold weather, 6 speed, auto top, 18" wheels, pretty much loaded no navigation, does anyone no how much nav is to put in, or do you have to get already installed. I did not no about this cash back for 6500 everyone is talking about, the price out the door that I negotiated down to was 38967.00
24 month lease
my payment is 400.00 a month thats including tax
the 2000.00 I put down was for lic, tax, 1st month
10k a year
I think my residual is 68%
my payment is 400.00 a month with tax
how did I do?
The next day, Christmas eve, I came back to the dealer to negotiate further.
Finally we reached an agreement slightly better than the deal the dealer offered the day before.
Monthly payment was down to $242. Lower than what I was paying for the car I traded in.
There might have been a room to further negotiate, but I am totally happy with the Titunium Silver Roadster.'t wait for the summer to drive top down.
It is only 120 miles driven since delivery in three weeks - it has been rainy here in seattle all time in the winter, can.
BMWUSA has posted on it's web site a lease offer for a 2008, 3.0i Z-4 with the following terms. $2,500.00 cash down with monthly lease payments of $379.00, not including sales tax, for 39 months based on MSRP of $38,450.00.
My question are:
1. Should I expect the dealer to accept an offer lower than MSRP? If yes, by how much?
2. May any reduction in price by the dealer be used to lower the down payment or the monthly payment required by this lease?
Thank you for your help.
Mike
39mo lease at 12k/yr w/ option to buy extra mileage until last 4 months of lease
-heated seats
-bmw assist
-motorized top
-metallic paint
(i'm forgetting somethign I'm sure)
for 1k total out the door and 500/mo inclusive of CA tax. so like 459 / mo ish w/o tax.
Once you arrive at a selling price that you are comfortable with, have the dealer calculate your car's monthly payment using BMW Financial Services' buy rate lease money factor. Its buy rate for a 36 month lease of an '08 Z4 3.0i roadster is .00255 for returning BMW lessees or new ones who pay a security deposit at lease signing. If the dealer that you are working with tries to charge you a higher rate than that they are likely marking your car's money factor up to add additional hidden back-end profit to your deal.
Car_man
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Car_man
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Any thoughts on this? I live in the upper peninsula of Michigan (so lots of snow) and am also looking at the TT as a possible toy.
I am interested in leasing a 2008 BMW Z4 3.0 si coupe. Could you please tell me the residual value and the money factor on this car? I am looking at a 36 month lease.
I live in the NYC area and was quoted $41,200 with an MSRP of $45375. What would be my lease payments without a cap cost reduction? I am looking to include taxes in my monthly payments. Thanks.
1) How do they arrive at those numbers? What is the negotiated cost? Residual? Money Factor?
2) I have seen similar specials at my local dealers here in Southern California that play on this lease special, including 39 months @ $399 w/ $3000 drive-off, and even 36 months @ $459 w/ $0 drive off! Of these, which way would be better - Less drive-off and more monthly, or vice versa?
3) How much more would/should I pay if I wanted to extend the lease to 12K miles per year? 15K miles?
By the way, the special can be found here at http://www.edmunds.com/new/2008/bmw/z4/100954196/incentives.html
Thanks for your help!!!
Went to the BMW dealer yesterday to try out the Z4si. Nice, not sure I like it as much as the '05 2.0T TT that I had, but it was pretty nice and I was hoping to get a decent lease deal.
Already having done the research, I knew what the current residuals and rates were as well as the $3k factory to dealer incentive. This was their first offer for 2yr 10k miles per year--gave me the $3k off the MSRP and then an additional $1325 which came out to a selling price of $42,800. After doc fee and Acquisition fee (what is this?), the cap cost was $43,470. Calculating $2500 down, they had the residual at .74 and the rate at .0022 they came out with a payment of $519.95.
I had gone in there using the Edmunds TMV value which for my area (upstate ny) was $200 under invoice. After taking into account the $3000 and taxes, and the various fees, I came out around $331/month.
I guess my question is about where should I come out?? I mean, I realize that was their 1st offer and they will come down, but can I expect them to come down to $331/month?
My other questions have to do w/ these various fees: Doc Fee = $45; Acquisition Fee = $625; Security Deposit = $550; Upfront fees = $170
Are these actual fees to the dealership or is this just another area where they're making a profit?! I appreciate your wise words of wisdom car man!! Thanks.
Using the prices that you mentioned in your post, an MSRP of $45,375 and a selling price of $41,200, and the aforementioned lease program, I come up with a zero down, pre-tax monthly payment of around $602 (with 12,000 miles per year).
Car_man
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As far as the other parameters of the advertised lease go, BMW used a money factor of .00220 and a residual value of 64% to arrive at that payment. If you were to lease with 15,000 miles per year instead of 10,000, this car's residual value would be 3% lower.
Car_man
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The fees that you were quoted seem reasonable to me. A doc fee of $45 is very low compared to what many other dealers charge. BMW Financial Services charges a $625 acquisition fee on every vehicle that it leases. Individual dealers cannot waive this charge. In fact, many dealers try to mark it up to add additional, hidden profit to deals, but your dealer is not. BMW FS' charges the security deposit as well. I don't know what the other $170 for "upfront fees" is but if it covers things like registration, etc... then it is probably legit.
Car_man
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I did. I got three quotes and went with the best one. Had to travel 45 miles to get it, but it was worth it. Make sure you go through the internet manager at the respective dealer to get the best savings.
BTW, it was from Steve Thomas BMW (North of Los Angeles).
The money factor in your quote seems high.
> Given the fact that you are in the ultra competitive Southern California market
> and that BMW is providing $2,500 dealer cash on the 2008 Z4 3.0i roadster,
> you probably will be able to negotiate a selling price that's well below dealer
> invoice.
Thanks for the tip. I noticed the Regional Adjustment of -$364 for Southern California indeed puts the TMV below invoice, but does the current $2500 Dealer Incentive also apply? So am I looking at something that is literally thousands below invoice? Or is that just the spread between the MSRP and the Dealer Invoice?
This looks like a great time to be buying a Z4. I've finally decided on the car itself... now it's time to deal!!!
Wish me luck!
There may still be a little "wiggle room" in there, but it still sounds like a pretty good deal... what do you think?
:confuse:
Car_man
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