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      02-27-2013, 10:05 AM   #1
Jay60642
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Help, please!

Excuse me if this topic has been covered, but I am picking up a 2013 Z4 28i this weekend and want to know if I need to order new TPMS for my winter wheels. Right now, they are on my 2011 Z4 3.0 (build date is 9/10).

Did the TPMS change for E89, and if so when? I am getting mixed messages. MY dealer says I need new sensors, but I see websites selling sensors that supposedly work for all Z4s models after 2009.

Also, just out of curiosity, is $3000 at signing and $503/month good for an MSRP of just over $57K?
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      02-27-2013, 01:01 PM   #2
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Quote:
Originally Posted by Jay60642 View Post
Also, just out of curiosity, is $3000 at signing and $503/month good for an MSRP of just over $57K?
What is the $3k for? Is it a cap cost reduction or is it multiple security deposit or is it taxes and fees?

Post the full terms. contract length, money factor, residual, negotiated purchase price, whether the monthly includes taxes

My initial SWAG is you can find a a few more dollars on the table, especially since the LCI is right around the corner...
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      02-27-2013, 02:36 PM   #3
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this lease is for 36 months/10k miles. the monthly payments include taxes. initial $3k is to bring monthly down. I'm in Chicago, so taxes are really high, even for the owner's choice program.
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      02-27-2013, 03:16 PM   #4
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Consider using the month as a multiple security deposit to buy down the money factor rather than as a cap cost reduction (aka rent pre payment).

If the car is written off you won't get your cap cost reduction back.

Also, try to get the purchase price lower since that is the biggest lever available to you to get the cost down. Try to get ~10% off the msrp ?

In my experience the residual is tied to the mileage limit and the contract term and I haven't been able to negotiate that.

One other thing to try is go with 10k miles per year limit and buy extra miles at the end if needed. I believe this reduces your tax burden each month too because the Chicago tax is based on the monthly payment.
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      02-27-2013, 06:42 PM   #5
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Quote:
Originally Posted by nicknaz View Post
I believe this reduces your tax burden each month too because the Chicago tax is based on the monthly payment.
IL charges the financing company full sales tax -- the logic (???) is that the finance company buys the car, therefore they should pay sales tax. The finance company then turns around and wants to be re-imbursed for the sales tax by the lessee (= driver). I typically pay a prepayment (down payment) of all one time fees, including the sales tax. I see no reason splitting these fees up by 36 months (or whatever lease duration) and paying interest on top of that.

On a side note, if the driver decides to buy the car out, IL comes along and charges sales tax again ... this time, they charge the driver directly (albeit "only" on the residual as far as I know).

I know Chicago charges an additional tax, just not sure if it's on the payment only or on the whole car or ...
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      02-27-2013, 07:41 PM   #6
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I know Chicago charges an additional tax, just not sure if it's on the payment only or on the whole car or ...
When I leased a 328 in chicago I paid sales tax up front on the car then I paid the additional "use tax on vehicle leases" which was based off the monthly payment.

My advice to OP is to look at increasing the residual / decreasing monthly payment by selecting a lower miles option. He will get a double benefit from the lower depreciation payment portion of his lease and lower Chicago use tax.

I had a 15k/miles per year limit on my 328 lease and it wasn't optimal because I didn't use all the miles I pre-paid for, and I got hit with the Chicago use tax on leases

That use tax is a relatively minor cost that was majorly annoying and I certainly didn't miss it when I move back to California.
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      02-28-2013, 04:30 AM   #7
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Quote:
Originally Posted by Jay60642 View Post
Also, just out of curiosity, is $3000 at signing and $503/month good for an MSRP of just over $57K?
Pay it ca$h! .. with the sport bag and the money inside
Don't do leasing!
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      02-28-2013, 06:30 PM   #8
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Quote:
Originally Posted by SchweiZ4 View Post
Pay it ca$h! .. with the sport bag and the money inside
Don't do leasing!


Include the opportunity cost of paying out the cash at time 0, and it isn't always clear that (properly negotiated) leasing is worse.

EDIT: the economics get even better for those who drive the car hard and will have higher expected cost of repair and maintenance in the future years
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      02-28-2013, 10:42 PM   #9
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I lease because I get bored very easily. The last time I purchased a car, I drove it for 20 months and then lost a lot of money trading it in. Three years is about my limit. The Z4 is the first model I am leasing more than once. Maybe that means I should buy it, but what if I like something that comes around in 2-3 years more?
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