I was doing the math on leasing vs balloon***** financing on a 2013 Z4
and even in my high-tax home state of CA the Penfed 1.74% 60 month
balloon loan seems to result in a lower monthly payment. The 1.74% rate
is new for August (was 2.74% in July, for the 60 month Penfed Payment Saver
loan). Just FYI to those modeling an August lease.
Of course, I understand that BMW may be subsidizing/inflating the lease residual
value, so your overall cost may be higher with the Penfed Payment Saver loan on
some models. It's also possible that I am doing the math wrong, but I did read
the sticky post on leasing in this forum and took into account the current MF of
0.00145 and even with 7 MSDs and with saving sales tax on residual value it still
doesn't seem to beat the Penfed number.