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BMW Z4, Car Leasing, Convertible
#458 of 711 Re: 2007 Money Factor and Residual Value [valen]
Jul 11, 2007 (1:44 am)
You're very welcome, valen. Here's the information that you're looking for. Through July 31st, BMW Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2007 BMW Z4 3.0i roadster with 15,000 miles per year are .00125 and 63%, respectively. The numbers for an otherwise identical lease of an '07 Z4 3.0si roadster are .00100 and 63%. 15,000 miles per year is the highest mileage allowance that BMW Financial Services publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the scheduled end of your lease and have to pay an excess mileage penalty.
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#459 of 711 Re: New to leasing, trying to evaluate offer [snohflake]
Jul 11, 2007 (1:51 am)
Welcome snohflake. Since you are new to the world of 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 Financial Services' money factors vary by trim level. Its current buy rate lease money factor for the '07 Z4 3.0i roadster is .00125 for returning lessees or consumers who pay a security deposit at lease signing. It looks as though the dealer that you are working with is trying to mark your car's buy rate up a little bit to slip hidden profit into your deal. BMW's current lease program is scheduled to run through July 31st. The 36 month, 10,000 mile per year residual value that you mentioned, 66%, is right on the money. The residual value for a lease with 12,000 miles per year would be 1% lower than the 10k resid.
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#460 of 711 Re: Z4 offer thoughts? [smithy23]
Jul 11, 2007 (2:04 am)
Welcome smithy23. Since this is your first time getting a new car, I assume that you have never leased before. If this is the case, 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.
The money factor that you were quoted for this car is too high. BMW Financial Services' current buy rate for a 36 month lease of an '07 Z4 3.0i roadster is only .00125 for consumers who pay a security deposit at lease signing. It appears as though the dealer that you are working with is attempting to mark up your car's buy rate to slip additional, back-end profit into your deal. Make sure to insist that they use the buy rate to calculate your monthly payment.
The selling price that you were quoted looks way too high as well. I have seen consumers report getting Z4s for $500 over invoice. Sure the market for this car may be different in Minnesota if there is not a lot of competition, but I still think that you can do better than full MSRP. Stop by the following discussion to see how much other community members have paid for similar cars lately: "BMW Z4: Prices Paid & Buying Experience".
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#461 of 711 Re: money factor [zhamid]
Jul 11, 2007 (2:11 am)
Hi zhamid. BMW Financial Services' buy rate for the Z4 varies by trim level. Its current buy rate lease money factor for a 36 month lease of an '07 Z4 3.0i roadster is .00125. Let me know if you want the factor for a different version of this car.
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#462 of 711 Re: 2006 M Roadster..... [zhamid]
Jul 11, 2007 (2:12 am)
Hi zhamid. See my previous post for this car's money factor. BMW FS' 36 month, 10,000 mile per year residual value for the '07 Z4 3.0i roadster is 66%.
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#463 of 711 Re: valen [Car_man]
Jul 11, 2007 (7:52 am)
Car man, what do you know about transferring your lease? Is it a good idea with BMWs?
#465 of 711 Re: Is it a good deal? [tristate]
by kyfdx@Edmunds HOST
Jul 20, 2007 (12:14 pm)
Those are the nationally advertised leases... Most of the time, they leave a little more negotiating room..
That said, it is sometimes difficult to even get the standard deal out of Cincinnati dealerships..
The Z4s and X3s have the best lease programs, right now.. The 3-series lease program is decent. How well you do, depends on how well you negotiate.
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#466 of 711 Need Help, Please
Jul 23, 2007 (6:06 pm)
New to this site. Visited a NYC dealer to ask about leasing a 2007 3.0i. Didn't know about leasing until now, but here's my deal:
Auto power roof
I think that was it. MSRP $39,400. Dealer offered $37,700 and suggested a great deal on a two year lease with 10K miles per year. Due at signing: sales tax, first month, security deposit and $625 for something I don't recall.
Monthly payment: $407 per month. Good deal?
Thanks for any input.
#467 of 711 Does this sound like a good deal?
Jul 23, 2007 (8:49 pm)
I recently negotiated the following deal with a local dealer in New York (Long Island, not NYC) and per the sales manager, they cannot go a dime lower. I don't truly believe this, but wanted see what opinions I can get here.
The figures that they claim that they are using to determine my payments are in line with the current monthly promotions (money factor .00125 (or 3% interest rate), 63% residual of MSRP on a 36 month, 15000 mile per year lease.
The MSRP they are using is $43,725 (exactly what I came up with in equipping the car)
They say that the cash sale price, they cannot go any lower
The invoice price is $40,220, and reasonably, I was expecting to be able to get the cash price down to $40,720 ($500 above invoice).
The numbers that I am being given are as follows:
Total Initial Charges $5004.92
Breakdown: 1st payment $425
Security Deposit $450
Acquisition fee: $625.00
Fees & Ins: $22.50
Upfront Taxes: $1537.42
Cap Reduction: $1900.00
$425 per month total as monthly payment.
After negotiating further, I was able to get down to $420, with slight modifications to the numbers above and a drop of the cash sale price to $41,556.
I inquired as to what the price would be if I went without the $1900 cap reduction cost, and it came out to be $475.55.
Another mater is of 2 accessories I wanted to add. The rear Decklid Spoiler ($220 + 1 hours labor to install $112 per hour) and the wind deflector with removable centerpiece ($356 + 2 hours labor to install $112 per hour). But the strange thing here is, that I think they may be ripping me off on the parts. These numbers I got from the same dealer's parts and service depts. However the salesperson claims that the parts cost hundreds of dollars more and would cost $1400 to install, (my figures are closer to $960), but he would install then for a sale price of $800 added to my down payment. I fear that they are trying to roll the surplus of the misquoted parts into the cash price of the car to boost my payment.
My dream would be tax and fees upfront.
Cash price of $500 above invoice.
Parts installed at the same $800 on top of that.
And a monthly payment of $460
Is that a high? Or too low a figure?
Please help, I need to make a deal by weeks end, or forget it alltogether, so any opinions will mean alot..