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Prices Paid: Buying & Leasing Experiences BMW Z4 Prices Paid and Buying Experience
495 messages, Last post on Dec 11, 2008 at 2:32 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: lee_w (Aug 10, 2004 2:52 am)
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Just leased a 2004 Z4. MSRP: $44920 Purchase price: $37861. (About invoice - $3500). Took advantage of part of $4500 manufacturer-to-dealer incentive. 36-month closed end lease, 10000 miles per year. Money Factor: 0.0019 Down Payment: $2500 Residual (58%): $26053 Acquisition Fee: $525 Refundable Deposit: $400 Because I put $2500 down, I went ahead and payed about $200 for the dealer to etch every piece of glass with serial numbers to decrease the chances of having the car stolen. The $200 fee also buys the insurance to get the $2500 downpayment back in case of total loss. Dealer included the Z4 floor mats for free. Total due at signing (includes down payment): $4239 Monthly lease: $397 State: N.J. (6% tax), included in monthly payment. |
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Replying to: gatorsfn28 (Aug 14, 2004 1:59 pm) Is it a 2.5 or a 3.0 liter Z4?
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Bought another for myself. $500 over dealer cost. 36m/10K year. |
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Replying to: cuco (Aug 22, 2004 11:45 am)
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Replying to: gatorsfn28 (Sep 04, 2004 10:37 am) Here are my 2 cents. If you still have not bought, good for you. BMW is offering the dealers $5000 in incentive to unload the 2004 2.5 liter Z4. It's $6500 for the 2004 3.0 liter Z4. I learned in the leasing forum at www.edmunds.com that it is not a good idea to put money down on a lease. If the car is totaled or stolen, you do not get your deposit back. In my case, I did put $2500 down so my wife would feel better at paying $397 per month for her lease instead of $470 per month. Here are my calculations on your car. A 2004 2.5 liter Z4 with auto and power top has an MSRP of $36280 and an Invoice of $33535. These numbers are from www.carsdirect.com First the calculations without putting any money down. 1 - Assume that the dealer makes $1000. You may be able to get the dealer to go for just $500 in profit for him. It depends on how motivated they are to unload the 2004. I had no problem in getting mine at $1000 above dealer cost. 2 - (Invoice - 5000 + 1000) = $29525 3 - I got 58% residual on 10000 miles per year, last month. I don't know if the residuals have changed in September. Car_man at the leasing post may be able to help you with the actual residual number. The residual will also be smaller if you need more than 10000 miles per year on the lease. 4 - 58% of the MSRP = $21042. 5 - (29525 - 21042) / 36 = $235.64 to pay down the difference between the purchase price and the residual value over 36 months. 6 - Interest per month (29525 + 21042) * 0.002 = $93.13 7 - Total lease, before taxes, no money down. 235.64 + 93.13 = $328.77 Your'll have an acquisition fee, deposit and first month payment. If you decide to put down an extra $3000, then the payment should be about $247. This is a lot lower than what you were quoted. The above numbers will change depending on the miles per year you actually need, the residual now in September for the 2004 model and the actual price above dealer cost. The above numbers are $1000 above the dealer cost, which is (Invoice - $5000). Good luck, let us know how you did.
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I am considering getting a Z4 (or Z3 w/lo miles) for commute purposes... it has two seats and the car pool requires 3 unless you only have two seats! my dilemma is... purchase used, new or lease. i live approx 40mi from my destination (80 per day) so i am not certain that a lease would be effective. i have looked at used but they are pretty pricey... almost as much as new w/o the incentives. can someone give me advice on this? i have a trade-in (98 LR RR4.6HSE w/51Kmi) so purchasing from a dealer in either case is pretty essential. if i buy used, how much wiggle room do i have and if new is it more beneficial due to warranty, incentives, financing, etc. thanks...i appreciate any assistance you can offer!
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Replying to: nmckain (Sep 07, 2004 3:06 pm) In your case the best deal would be a CPO car. This will give you warranty coverage for upto 6 years from the start date or 100K miles. Buy the extended maintenance program ($1K) and you are set with no maintenance/warranty costs for upto 100K miles, except for tires, insurance and gas. Since you are going to be commuting, avoid the 3.0 Sports Package with the 18" wheel. The runflats on the 18" make the ride very hard and not good for commuting. A 3.0 non-Sports or a 2.5 Sports, both with 17" wheels are better for commuting. I also considered a Z3 before going for the Z4 but they are not in the same league. A Z4 is much better car than the Z3 when it comes to the driving dynamics. In order to come up with an offer for a CPO car, I would use this formula: 1. Find the current invoice cost of a new 2004 Z4 with similar equipment (edmunds, carsdirect etc.). 2. Subtract the current incentives ($6500 for 3.0 and $5000 for 2.5); add $1000 for dealer profit. This is the going price for 2004 Z4. 3. Reduce the price you get in #2 by about 20% for the 1st year depreciation. 4. Add $1000 to the price in #3 to come up with a fair market value for the CPO car. Most dealers, especially in the North East and the MidWest will take this deal. They do not want to be stuck with these pre-owned cars for too long. You may end up paying $1000-$2000 more than the number you come up with in #4 but walk if they ask for more. There are a lot of Z4s for sale on EBay, many of them from BMW dealers. Very few of them are selling since the reserves are not being met. Once in a while you get a steal; a 2003 3.0 with less than 10K miles went for $30K, a full $15K less than MSRP last week. If you do your home work well, you should be able to get a 2.5 CPO for around $31-32K and a 3.0 CPO for about $34-36K.
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Replying to: cuco (Sep 05, 2004 11:53 am) I have been looking at the Z4 for a while and now (September) they have very good lease offers. I have the opportunity to get a z4 with power top MSRP is $35570. When I see the BMW site it says that downpayment will be 2500 and monthly payments will be $320 (with taxes). Now I went to a dealer and I know the dealers are getting $5000 from BMW...so I expected to get the car for $35570 - $ 5000 = $30570. This will make the monthly payments lower. However, the dealer is telling me that the $5000 are built in the lease and that's why the lease is so low. He is saying that when BMW talks about $320 monthly payments for the car BMW is including the $5000 discount already there. is this true?
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Replying to: vsaxena (Sep 07, 2004 11:13 pm) WOW...you are brilliant! Thank you so much for y our help! You really opened my eyes and gave me some amazing info! I now feel armed to do battle. I live on the West Coast and convertibles are premium here but I can go in feeling more comfortable dealing with dealers!!! Thanks again, and keep up the good advice. You are an asset to this site~! Nancy |
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