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E89 Z4 (2009 - current)

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  #1  
Old 06-19-2011, 06:48 PM
puneet75 puneet75 is offline
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Location: Chicago
 
Join Date: Jun 2011
Posts: 4
Mein Auto: Lexus
Need help on this lease deal,

I am in Chicago suburb. This is the deal which I am getting and I really need help from the gurus here. I am new to leasing so really am looking for ideas on how to negotiate:


Vehicle: 2011 BMW Z4-SERIES 1130 2dr Conv sDrive35is


PURCHASE OPTION
Vehicle Price: $73,025.00
Preferred Customer Discount: - $2,921.00
Total Selling Price: $70,104.00

Sales Tax (estimate): + $5,095.67
Tag/Registration Fees (estimate): + $194.00
Documentation Fee: + $156.08
Electronic Filing: + $25.00
Balance Due (estimate): $75,574.75


Cash Due : $6,236

24 months 10,000 Miles


Mthly Payment amount: $766



I am sure people have got much better deals. Could you guys please help me...
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  #2  
Old 06-19-2011, 08:50 PM
Display_Name Display_Name is offline
Shadowy Figure
Location: CT
 
Join Date: Apr 2010
Posts: 76
Mein Auto: 2011 X5 35d, 2011 Z4 35is
1) The offered "discount" is way too low. There is currently a 145 day supply of Z4s in the US. ( http://www.newcars.com/bmw/z4 ) You should be able to get at least a $5K discount off sticker on this car without trying too hard, though your goal should be invoice + (whatever you think reasonable, though $500 seems to be common).

2) Have you considered EDing a similar car? If you hurry you could get an '11 with the same options for under $65K.

3) The Illinois taxes really screw up your opportunity for a great deal, but even with that your payments seem way too high.

A) You are covering the taxes, fees and first month out of pocket.
B) To get to the payment you are showing, they are adding an additional $200 to the acquisition fee. (Bumping the BMW $725 charge to $925, max allowed)
C) They also appear to be adding to the money factor. It looks like your MF on this deal is around .00197.


How is your credit? Can you get a better base rate than the .00190 based on your FICO? If so, they may be holding an MF adder of .00022 as add'l profit.

Do you qualify for loyalty rates? Are you a current BMWFS customer?

Why are they padding the MF and the acquisition fee & charging you more than $3000 over invoice on a hard to move car (on which there may currently be some dealer incentives). Be strong, don't put up with being treated like this.


If they would hold at .00190 MF, not add the extra $200 & you put down 7 MSDs, your payments would drop to ~$679 without any more negotiation on the price.

Use an online service like TrueCar.com to find a dealer willing to deal on price (suggests you should be able to get this car for $67255 OR $68005), and your price will drop even more.

7 MSDs, $725 Acq, no added MF & a sell price of $68005 (second lowest on TrueCar for my area) and your payments would drop to ~$584 (tax, fees, 1st pmt & MSDs down).

____________________


Not everyone is crazy enough to fly out west and then drive 1,500 miles home to get a deal like mine, but if my deal represents the best domestic (non-ED) deal available, the one you've quoted appears to be among the worst.

I suggest you contact a board sponsor and try to work out a more reasonable deal.

Also, read up on the power of the MSDs. On a deal like this, with the high residual, you'll get a great return on your money by loaning BMWFS the MSDs in exchange for a much better interest rate. Think of it as points that you get back after the lease...
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Last edited by Display_Name; 06-19-2011 at 09:08 PM.
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  #3  
Old 06-19-2011, 09:02 PM
ZoomVT ZoomVT is online now
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Location: Burlington, VT
 
Join Date: May 2008
Posts: 603
Mein Auto: 11' 328 xDrive Touring
Go to the ask a dealer forum and ask for help there.

At first look it looks like a terrible deal. Dont know what options but it is known that the z4 had the best deal in the lineup for leasing.


Sent from my SAMSUNG-SGH-I997 using Bimmer App
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  #4  
Old 06-20-2011, 09:24 PM
puneet75 puneet75 is offline
Registered User
Location: Chicago
 
Join Date: Jun 2011
Posts: 4
Mein Auto: Lexus
Quote:
Originally Posted by Display_Name View Post
1) The offered "discount" is way too low. There is currently a 145 day supply of Z4s in the US. ( http://www.newcars.com/bmw/z4 ) You should be able to get at least a $5K discount off sticker on this car without trying too hard, though your goal should be invoice + (whatever you think reasonable, though $500 seems to be common).

2) Have you considered EDing a similar car? If you hurry you could get an '11 with the same options for under $65K.

3) The Illinois taxes really screw up your opportunity for a great deal, but even with that your payments seem way too high.

A) You are covering the taxes, fees and first month out of pocket.
B) To get to the payment you are showing, they are adding an additional $200 to the acquisition fee. (Bumping the BMW $725 charge to $925, max allowed)
C) They also appear to be adding to the money factor. It looks like your MF on this deal is around .00197.


How is your credit? Can you get a better base rate than the .00190 based on your FICO? If so, they may be holding an MF adder of .00022 as add'l profit.

Do you qualify for loyalty rates? Are you a current BMWFS customer?

Why are they padding the MF and the acquisition fee & charging you more than $3000 over invoice on a hard to move car (on which there may currently be some dealer incentives). Be strong, don't put up with being treated like this.


If they would hold at .00190 MF, not add the extra $200 & you put down 7 MSDs, your payments would drop to ~$679 without any more negotiation on the price.

Use an online service like TrueCar.com to find a dealer willing to deal on price (suggests you should be able to get this car for $67255 OR $68005), and your price will drop even more.

7 MSDs, $725 Acq, no added MF & a sell price of $68005 (second lowest on TrueCar for my area) and your payments would drop to ~$584 (tax, fees, 1st pmt & MSDs down).

____________________


Not everyone is crazy enough to fly out west and then drive 1,500 miles home to get a deal like mine, but if my deal represents the best domestic (non-ED) deal available, the one you've quoted appears to be among the worst.

I suggest you contact a board sponsor and try to work out a more reasonable deal.

Also, read up on the power of the MSDs. On a deal like this, with the high residual, you'll get a great return on your money by loaning BMWFS the MSDs in exchange for a much better interest rate. Think of it as points that you get back after the lease...
Thx a lot. Excellent points and i have sent feebback to the dealer. Will keep everyone updated.
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