First Time Lease..need help!

[chaseison]

Hi guys,
i know this topic has been covered too many times, but i just need one little help from all the lease experts. so this is my situation.

trading in 03 z4 2.5i with about 52Kmiles on it.
looking at 07 Z4MC black/black at $57,320

The lease numbers are:

Price $44,850.48
Rate .00285
Residual .62
Adj Residual $35,538.40
Miles/Year 10,000
Negative equity Roll Over $6000
Total out of pocket $1500
Monthly Payment $760.30

Have never worked a lease deal before. Is this best I can get or should I negotiate anymore??? PLease advice..

Thanks in advance

[iamwiz82]

I just leased an 07 M Roadster with the same miles allowed, almost the same price, .00275 rate, and a residual of well over 70%, but I had 0 out of pocket outside of first month and TTL. Your price is terrible, IMHO, but a huge percentage of that is the negative equity. I would not be trading in a car that I was upside down by that much.

EDIT: My residual was a two year lease.

[valdeztke]

residual is wrong and the money factor has a hike in it


residual = 66%
MF= .00270

[rabman5]

Originally Posted by chaseison

Is this best I can get or should I negotiate anymore???

If you really want out of the '03 it may be worth it to you.

1. If you wait 6 months, you aren't going to find an '08 ///M for $45,000
2. You'll probably save some cash on repairs and maintenance
3. The pleasure you'll get from the ///M has to be worth something!

I don't know how much negotiating room you have with $6000 neg equity. Go get your new car!

[ianbiz]

and since you are up north, dealers should be giving away Z4s.

[valdeztke]

Originally Posted by ianbiz

and since you are up north, dealers should be giving away Z4s.

No, they arent' really.

[aequitas330]

The $6k in negative equity kinda hurts..

[olinjohnston]

Just think about what you could OWN for 760 a month...You could essentially keep the 03 Z4 and own an e39 M5, an e46 M3, or something just as powerful and fun...

[pbdm4k]

Or you could supercharge your 2.5i and toss in some coilovers.

[rip6reilly]

I sell BMWs and I defintely think I got a great deal. Here's the basics of my Lease:

27 months
10,000 miles a year
$3500 total out of pocket = $495 mo. payments
(+ I bought the tire protection)


If you have questions about payments lease wise, it is different for almost every state and in different counties of those same states.. Depending on how far you are from Atlantic City, NJ I can get you the best deal pretty much NO HAGGLE.

[creator8]

I got $990 drive off, $534 mo (w/o tax), 24 mos.

Price is right, depending on options. Residual is a little wrong--I got .66. Money factor may have wiggle room. But your deal isnt far off mine with the trade and mine was the absolute best of 4 dealers in California.

Its not going to be easy to sell your car right now and the 07s are a steal. Try and haggle a little more but go for it.

[rip6reilly]

oh and wait... I left something huge out.. I was $5300 upside down (oops).

my friend got her 07 M Coupe, 27 months, 12k miles a year, NOTHING out of pocket & Tire protection = $505 a month...

I already got my car.. couldn't have gotten a better deal.. my dealership lost 3400 just to get rid of it.. I don't understand why no one wanted it.. it's beautiful...

[chaseison]

just wanna say thanks to everyone who provided their valued inputs, I had to go back home (Pakistan) in december. i just came back last week and obviously the car of dream is gone!!! oh well...i was browsing dealer inventory and found a 2006 IB M roadster with 6 miles. The asking price is 50,599 and not a penny less, even after hours or negotion...is that price possible for a 2006??? any advise

[rosierobins2003]

Gosh, that much a MONTH for a car. Sheesh. I can't believe it.

Rosie

[rabman5]

Originally Posted by chaseison

just wanna say thanks to everyone who provided their valued inputs, I had to go back home (Pakistan) in december. i just came back last week and obviously the car of dream is gone!!! oh well...i was browsing dealer inventory and found a 2006 IB M roadster with 6 miles. The asking price is 50,599 and not a penny less, even after hours or negotion...is that price possible for a 2006??? any advise

Yup. No manufacturer incentives on a used car. The dealer may be holding out because the car just came in? Anyway, sometimes you have less negotiating room on used cars than new. Good luck.

[rip6reilly]

hope everything works out