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Prices Paid: Buying & Leasing Experiences BMW Z4 Lease Questions
606 messages, Last post on Nov 16, 2009 at 6:57 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: melbern (Apr 22, 2006 8:14 pm) 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. |
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Replying to: Car_man (Apr 03, 2008 3:27 am) > 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!
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Replying to: dk90210 (Apr 24, 2008 11:52 pm) There may still be a little "wiggle room" in there, but it still sounds like a pretty good deal... what do you think? 
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Replying to: dk90210 (Apr 24, 2008 11:52 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Hi everybody. Here's a lease I'm working on. (2008 BMW Z4 Manual Transmission). After many many many attempts I finally got the dealer to send their Lease Worksheet. Base Price $36,400.00 0389 Gray Softtop 0.00 0399 Fully Automatic Power Top 750.00 Metallic Paint 475.00 Destination and Handling 775.00 TOTAL AS EQUIPPED $38,400.00 SELLING PRICE $33,790.00 Lease Terms ------- Term 24 Months Mileage 12,000/year Money Factor 2.35 Residual Factor 73% Selling Price $33,790.00 Bank Fee $ 825.00 Total Capitalized Cost $34,615.00 Residual Value $28,032.00 Total Depreciation $ 4,934.21 Capital Reduction $ 1,648.79 Monthly Depreciation $ 205.59 Monthly Rent $ 143.35 Monthly Payment $ 348.94 Tax (8.25%) $ 28.79 Monthly Payment + Tax $ 377.73 Capital Reduction $1,648.79 Cap Reduction Tax (8.25%) $ 139.74 License & Registration $ 288.75 Documentation Fee $ 45.00 First Payment $ 377.73 Security Deposit $ 0.00 Due at Signing $2,500.00 So my questions are: 1) Is this lease correct? a) Is the Bank Fee supposed to be added before the Cap Cost? b) If I'm paying $1,648.79 in Cap Cost Reduction, shouldn't the Cap Cost be $32966.21? c) Is Cap Cost Reduction a taxable item up front? 2) Can I do better? There are some good advertised deals in the LA Times, but those are for 10000 miles per year. 3) Is the Bank Fee really $825? I've been quoted lower from other dealers. 4) Is the Money Factor .00235? I've seen places where it is .0021 but I'm not sure if that is for "repeat customers" 5) Should I be concerned that it took so many attempts to get the dealer to send these numbers? I kept asking, and they said "just come in and we'll show you". Are these Lease Worksheets so sacred to them?? Sorry for my babbling.... Thanks for all your help.
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Replying to: dk90212 (May 05, 2008 4:34 pm) For a 15,000 mile per year lease, the residual is 71% (so yours is 73%, right kyfdx?) and the money factor is .0022 (for 15K per year), so they are definitely markinf that up on you too. You shouldn't be putting down a cap cost reduction. Roll that $1600 into your payment. |
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Replying to: dk90212 (May 05, 2008 4:34 pm) 1) Is this lease correct? a) Is the Bank Fee supposed to be added before the Cap Cost? The bank fee is added on to the selling price to get the gross CAP cost.. That's normal b) If I'm paying $1,648.79 in Cap Cost Reduction, shouldn't the Cap Cost be $32966.21? The actual net CAP cost is $32,966.21... They just have a convoluted way of showing the figures.. c) Is Cap Cost Reduction a taxable item up front? Anything paid upfront, that would be taxable if rolled into the lease is taxed. Otherwise, people would make $5000 CAP cost reductions to avoid taxes. 2) Can I do better? There are some good advertised deals in the LA Times, but those are for 10000 miles per year. On a $40K car, 10K leases are only $17/mo. less than 12K leases. Can you do better? Not sure what the incentives are on a Z4.. If you are happy with the selling price, then there isn't a lot more room 3) Is the Bank Fee really $825? I've been quoted lower from other dealers. As nyccarguy noted, the base fee is $625.. the dealer is marking it up by $200, which is the maximum allowed. That adds about $9/mo. to your payment. 4) Is the Money Factor .00235? I've seen places where it is .0021 but I'm not sure if that is for "repeat customers" The base MF is .0022 for returning customers or those making a security deposit. The bump for no security deposit is .00015, making the total .00235.. So, you are getting the base rate, but would be better off making a $400 security deposit and getting .0022 5) Should I be concerned that it took so many attempts to get the dealer to send these numbers? I kept asking, and they said "just come in and we'll show you". Are these Lease Worksheets so sacred to them?? Most dealers don't like the buyer to get into all the minutiae, because then they start obsessing over $200 upcharges, instead of focusing on the bottom line. So.. be concerned a little, but realize that some dealers consider their inside info "sacred". The lease is structured pretty well.. With some tweaks (not making a CAP reduction, making a security deposit, etc.), it could be very good. What you really need to know? What are the current incentives on the Z4, and what is the invoice price of the unit you are looking at? If your selling price = (Invoice - dealer incentive + $1000), then you have a darn good lease deal with a little adjusting, even with the bumped up bank fee. Hope that helps.. kyfdx Host-Prices Paid Forums |
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Replying to: dk90212 (May 05, 2008 4:34 pm) $34,615 CAP cost (no reduction) $450 security deposit .0022 MF (lowered by security deposit) Due at signing = $1161 (no cap red, no tax on cap red, add sec.dep) Payment = $412.12/mo.+tax = $446.12/mo. You pay 68.29/mo. X 24 mo. = $1641 more over life of lease. But, you pay $1339 less upfront and get $450 security deposit back at end of lease, for a total of $1789 less.. NET SAVINGS = $148 If you can knock the selling price down any, you'll save about $4.75/mo., for every $100 less you pay for the car.. Good luck! |
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So my 2006 Z4 lease is coming to an end this summer (3 months). BMW sent me info w.r.t. different options but they won't allow me to discuss re-lease terms with them prior to 60 days before lease end (apparently because of changing residuals and money factors). I had some questions for the group: (1) is there anywhere where I could find the ballpark numbers for my car (i.e. if my lease was ending today or in 1-2 months, what would be the numbers I'd be looking at; (2) do they let me keep the miles if I'm under or they re-set to 0 upon the start of the new lease (i.e. if I used 15K of a 20K lease and I renew for a 20K lease, will I end up with 25K?). (3) in general are re-lease options a good idea? Any other thoughts please let me know. I had a great deal on my 2006 and I would not mind keeping it for another ~2 years. Thanks!! |
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