Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
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
|
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. |
|
|
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 |
|
|
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! |
|
|
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!! |
|
|
Hello Car_Man, Kyfdx, I have a dilemma. I am going to the dealer to close the deal tomorrow but don't know if I am getting the best deal. This is the first time I am leasing a car and I am almost come to my end in getting my Z4 3.0si. I also figure I would go with 12k miles. Any help on reducing the money factor or anything else to lower the monthly payment would be appreciated. Thanks South Florida - BMW Fort Lauderdale MSRP $50,200 (INCLUDES AUTO, PREMIUM & SPORTS PKG, XENON LIGHTS, BLACK LEATHER SEATS, M SPORTS SEATS, JET BLACK WITH BLACK AUTO SOFT TOP). END OF JUNE DISCOUNT $6,225 NEGOTIATED PRICE $43,975 TERM : 24 MONTHS RESIDUAL VALUE 73% MONEY FACTOR : .00215 MILES : 10,000 PER YEAR LEASE PAYMENT : $359.00 TAXES 6% $21.54 TOTAL MONTHLY PAYMENT : $380.54 DOWN PAYMENT $2,500 BANK FEES $625 SALES TAXES $700 SECURITY DEPOSIT $400 TAG $250 1ST PAYMENT $359 TOTAL DUE ON DELIVERY DAY $4,834
|
|
|
http://www.bimmerfest.com/forums/showthread.php?t=290404 And read the sticky on MSDs (multiple security deposits) - do those instead of a down payment |
|
|
Replying to: joasav (Jun 29, 2008 5:25 pm) The money factor that you were quoted looks good, assuming that you are having the security deposit waived. The selling price that you are being given on this car looks good, too. There is around a $4,000 spread between its full MSRP and dealer invoice price. Add to that the $3,000 dealer cash that is available on it and there's a total of $7,000 to work with. So you're at around $700 over invoice. Other than the down payment, this looks like a good deal to me. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
|
|
|
Hi Car_Man and Kyfdx, I am in the process of leasing a Z4 and could really use some advice. This is my first time leasing a car and despite all the online research I've done, I'm still not sure whether I'm getting a good deal. Here are the details of the deal I'm getting: MSRP: 44,350 Invoice: 41,535 Selling Price: 39,635 Bank Fee: 825 Down payment: 2500 (this is negotiable, i can change this to whatever i want) Net Cap: 37,960 Tax: 8.5% = 217 License & Reg: 327.75 Doc Fee: 55 Security deposit: 500 (i can increase this to 8 times the sec dep and get the corresponding .0007 decrease in money factor per deposit) Term: 36 month Mileage: 10000 Residual Factor: 63% Money Factor: .0022 Lease payment: 459.28. Does this sound about right? Also, is the selling price around what you would expect or can I still negotiate a lower rate?
|
|
|
Replying to: nazgul1 (Jul 09, 2008 5:53 pm) I am also looking at a Z4. There is currently a manufacturer to dealer incentive of $3000 on this car, so your selling price of $1900 below invoice or $1100 above dealer cost is fair. However, the current BMWFS base MF rate on this car is .00200, so your dealer is marking it up .0002, which BMWFS allows them to do, but in this soft market (that is why there is $3000 "trunk money") you should not have to accept. Also, the BMWFS bank fee is $625, so your dealer is marking that up $200, also allowed, but in this soft market, do not accept it. Otherwise it seems to me a fair deal for both you and the dealer. IMHO, do not put the $2500 down payment, use that money to give multiple security deposits to get a MF lower than the base rate of .002. Good luck. |
|
|
Replying to: nazgul1 (Jul 09, 2008 5:53 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
|
You are here:
Forums
Prices Paid: Buying & Leasing Experiences BMW Z4 Lease Questions
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2010 BMW Z4
Browse by Board
Browse by Topic
Today's Chats
