What do You Think of this Lease Deal?

[NFexec]

2012 Z4 28i; pretty loaded
MSRP 58575
Selling Price 50800 (includes 4400 cash down & 2500 BMW incentive, plus upfront tax, doc fees, etc) The actual money off MSRP = $6,650.

I'm not exactly sure of how much that is below invoice, but it's a bunch

MF=.00204
36 months
residual =37488 (64%!)
monthly payment without tax = 511
monthly payment with tax (7.75%) = 550

Outstanding?
Good?
Just OK?
Thanks for your input.

Doug

[DavidJS]

NFexec, I just got a lease quote on a Z4 in NYC. With the "Mission to Drive" event right now, I was quoted a money factor of 0.00120, which would go up to 0.00195 after Jan 3. I'm not sure if money factor varies by model, or by location, but it makes a big difference. You might ask locally about that. The discount off MSRP seems OK. My quote was for MSRP of 72,625 and initial cap cost of 67,310, so 5315 off, but that was before the 2500 incentive was added, so total discount was 7815, or around 10%.

Hope that helps. Good luck!

- David

[silversttlz]

Hey,
I'm not sure how good your deal is, but fyi, this is the deal I just got:

MSRP.........: $58,375
Selling price: $51,700 including the $2,500 incentive

MF: 00195 (I did not add extra security deposits to lower it from this point)
Residual %: 64
36 Months/12K miles per year

Monthly price including .0875% tax: $548 after a $2400 cap cost reduction that includes first month's payment

I went around for close to 2-3 weeks talk to different dealers in two different states and those were the best terms I was able to secure. They're placing the order for it tomorrow (!!!).

[The Ridge]

Thats not a bad deal but I would expect your selling price with your $4400 cap reduction to be under $50k. If my math is right they are showing you a dealer discount of $875 (not taking BMW promo money into account). A fair deal for both sides on an ordered car should still be around $2250 off MSRP plus your $2500 'mission to drive' incentive.

[The Ridge]

Also I don't know what your regional money factor rates are but for our market they are .00195

[NFexec]

Thanks for the replies. I agree the money factor in my deal seems high... and if I go ahead with more negotiations, I will work for a better MF and discount. Trouble is, it's too late to order the car, and sales are on vehicles on the lot (they only have one) or a dealer trade. That seriously limits my choices. So if I can't get what I want, I'll hold onto my Boxster until a better deal comes along.


Doug

[DavidJS]

Doug, the 0.0012 money factor I quoted was, indeed, for a car delivered before the end of the Mission to Drive event. After that, it goes up to 0.00195. However, the $2500 incentive should apply if you order a car before then, even though it wouldn't be delivered until later.

By the way, I'm interested in your opinion of the Z4 as compared to your Boxster. Can you elaborate on that?

[The Ridge]

The 'mission to drive' credit is lockable for 90 days along with the LMF. If you need a locate done or want to discuss numbers let me know. I'm a client adviser here in Portland.

[Jayda]

Originally Posted by NFexec

Thanks for the replies. I agree the money factor in my deal seems high... and if I go ahead with more negotiations, I will work for a better MF and discount. Trouble is, it's too late to order the car, and sales are on vehicles on the lot (they only have one) or a dealer trade. That seriously limits my choices. So if I can't get what I want, I'll hold onto my Boxster until a better deal comes along.


Doug

Good luck with your decision. You will love the Z4. If the car sits and the end of the year creeps closer, I bet you can get a sweeter deal! Regardless of your outcome, I love your little driver guy in your post!

PS- I just noticed your location. My parents live in Strongsville. I can't imagine a Z4 will fly off the lot at this time of year in OH!