Last post on Dec 07, 2013 at 8:45 AM
You are in the Prices Paid - Buying & Leasing Experiences
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BMW Z4, Car Leasing, Convertible
#295 of 712 2006 Z4 3.0si....GOOD DEAL?
Jul 30, 2006 (3:03 pm)
Seems to be a great time to lease a new Z4. I would have never expected that BMW would be so aggressive on pricing and lease deals. My wife has had her eye on a Z4 for awhile and when I saw the deals people we getting I couldn't believe it.
Here is the deal I negotiated today over email/phone with a SF Bay Area dealer. Lucked out that they had the car with the exact options and color we wanted
- '06 Z43.0SI: MSRP $49,345
- Incl. Sport, Premium, Steptronic, heated seats, Xenons
Offered $44,210 and to my surprise they accepted without any haggling. 24 mo. lease with 71% residual and .0009 money factor, the payment is $453.61 + tax. The MF seems to be the only one they are giving me trouble on, as from what I have read here on the board it should be .0005. Is this correct?
We are also considering buying down the MF. If my math is correct, I can make 7 security deposits totaling around $3100, and this will save me about $40 per month on the payment. I don't think I could find a better and safer investment that would pay that kind of interest. Am I missing something here?
All in all, seems like a pretty sweet deal and we plan to drive the 2 hrs to the dealer tomorrow afternoon to pick her up.
Any suggestions on how to get them to move on the MF rate if it should indeed be .0005?
#296 of 712 need help with expectations on lease
Jul 30, 2006 (5:41 pm)
how much should I expect to pay to lease a Z4 3.0i MSRP of 42395 for 36 months and 15k miles per year. What should I be shooting for in regards to price and terms? I am leasing this car in south Florida.
#297 of 712 Re: Buying or trading a leased 2004 Z4 [Car_man]
Jul 31, 2006 (5:54 am)
Thanks Carman. My allowed mileage is 45,000 miles and I have 12k. What do you think? Beamerman.
#298 of 712 Re: 2006 Z4 3.0si....GOOD DEAL? [lalakrsfan]
Jul 31, 2006 (8:33 am)
Do you mind sharing the name of the Bay Area dealer? My local dealers are pretty arrogant since they are the only game in town and I'm willing to drive to the better deal.
#299 of 712 Re: 2006 Z4 3.0si....GOOD DEAL? [lalakrsfan]
Jul 31, 2006 (8:48 am)
What was the cash due at signing. If zero cash down, that sounds like a good deal.
My deal was $2950 down ($450 security deposit in there) and $412/month on 24 months and 10k miles. I believe the MF I had was 0.0005 but it took a single security deposit to get there.
The only option you have over me is steptronic.
The dealer has $1000 profit in the car over invoice less the dealer cash back of $2000.
#300 of 712 Re: 2006 Z4 3.0si....GOOD DEAL? [matthewsjl]
Jul 31, 2006 (10:32 am)
zero cash down on the deal. Now I think I understand, the .0009 they quoted was probably w/o the security deposit. I'll be sure to get the .0005.
I'm not sure what you meant by your last sentence. Are you saying you paid $1000 under invoice on yours?
#301 of 712 Re: 2006 Z4 3.0si....GOOD DEAL? [juanito1]
Jul 31, 2006 (10:35 am)
I don't think we can mention dealer names here. You can email me using my username and yahoo.com and I will let you know after I pick up the car tonight.
#302 of 712 Re: 2006 Z4 3.0si....GOOD DEAL? [lalakrsfan]
by kyfdx@Edmunds HOST
Jul 31, 2006 (3:52 pm)
Dealership names are fine... Individual salesperson identification isn't.. Please read the message printed in red below..
#303 of 712 Re: 2006 Z4 3.0si....GOOD DEAL? [kyfdx]
Jul 31, 2006 (11:39 pm)
Thanks kyfdx, I somehow missed that red text!
We live in the Sacramento area and drove down to BMW of Fremont to sign the paperwork and pick up the car. We ended up going with the 36 mo lease. I drilled the sales guy and the finance guy hard on the money factor, and they would not budge off the .0009 number unless I wanted to make additional security deposits. At that point we had driven two hours and as much as I wanted to turn a walk out the door, I couldn't bring myself to do it, not to mention that this was the only car in all of Northern Cali that had the exact color and options we wanted, and plus my wife would have been really pissed off. I knew we were still getting a good deal so I gave up and we signed the papers and drove our new baby home.
Other than the MF issue, I was very pleased with the buying experience and would recommend this dealer to others. For future reference, any suggestions on how I could have handled the MF issue better other than the "be prepared to walk away" option? Is the MF rate based on credit score? Ours avg. out to 730, which I would think is high enough to qualify for the best rate. Any comments or advice is appreciated.
#304 of 712 Re: 2006 Z4 3.0si....GOOD DEAL? [lalakrsfan]
Aug 01, 2006 (7:03 pm)
I didn't really look at the base price of the car in the lease screens.
I know that the dealer only made about $800 on the car.
Basically on the si:
1. $2,000 dealer cash back. Effectively, this means that the invoice price is reduced by $2,000. If the dealer wants $500 profit, you'll end up $1,500 under the pre-dealer-cash-back invoice price.
2. The lease rates on the si are better than on the 3.0i - coupled with the better dealer cash on the si makes them lease better.
I think you got a great deal at zero down.