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03-30-2009, 08:59 PM | #1 |
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Off lease prices on Z4M?
I'm in the market for a Z4M Coupe and I'm sure that there will be a few coming off of lease over the next couple months and I was wondering how those prices are determined.
I've seen what some of the residuals are and know that the person who leased it can buy it for that or even negotiate a lower price but what happens to the price when the car gets turned in after the lease? Does the dealer buy it back from BMW for less than the residual? It seems that the residuals would be high on some of them since they were disounted $7500+ at the end of 2007. Thanks Alan |
03-31-2009, 06:11 AM | #2 |
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I'm hoping BMW will greatly reduce the buyback prices. Just picked up a lease assumption 2007 Z4M Coupe myself. Residual is listed as 37K for 11/09 lease end. Manheim Wholesale is now down to 30K! There are some great deals out there right now.
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03-31-2009, 06:21 AM | #3 |
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I inquired a guy about a 2006 M roadster:
02/06/09 MANHEIM Regular $27,000 16,124 Avg RED 02/05/09 MANHEIM Lease $24,250 34,212 Avg BLKSAPPH 02/04/09 BAY CITI Lease $26,000 18,344 Avg IMOLA RED 02/04/09 BAY CITI Lease $24,500 13,134 Avg TITANIUM 02/04/09 BAY CITI Lease $24,000 27,106 Avg IMOLA RE 02/04/09 ATLANTA Lease $28,000 5,369 Above Avg IMOLARED 02/04/09 ATLANTA Lease $24,800 23,753 Avg INTERLA 01/28/09 NADE Lease $26,000 21,790 Avg SILVER G 01/27/09 FAAO Lease $28,200 26,560 Above IMOLA 01/27/09 FAAO Regular $22,200 22,910 Below BLUE 01/23/09 NEVADA Lease $25,000 23,230 Avg ALPINE W 01/23/09 NEVADA Lease $21,750 37,835 Below BLK SAPH 01/22/09 MANHEIM Lease $30,250 5,921 Above BLKSAPPH 01/22/09 MANHEIM Regular $23,200 16,110 Avg RED 01/20/09 FAAO Regular $23,000 18,135 Avg WHITE 01/20/09 DFW Lease $27,500 7,840 Above SILVGRAY 01/15/09 W PALM Lease $27,600 16,319 AboveAVGWHITE 01/15/09 RIVRSIDE Lease $25,500 20,031 Avg INTRLGOS 01/15/09 RIVRSIDE Regular $24,000 21,825 Avg BLUE 01/13/09 OHIO Lease $25,750 12,281 Avg BLKSAPP |
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03-31-2009, 08:33 AM | #4 |
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I wonder what the Manheim prices will be at year end. A 2007 Z4M all options (Sapphire Black, Black extended leather, carbon desk, Premium pack, Nav, etc.) 20K miles at lease termination in November. Generally, prices are down in winter in the NorthEast. Hoping it works in my favor, else I'll simply turn her in and buy something else.
BMW did state at the lease assumption, that the residual price would be "adjusted a few thousand" when the time came. I'm sure they would prefer to not to have to turnover another car...... What do you think if one were to over the actual manheim pricing for the vehicle at lease turn in? Would that take it? |
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03-31-2009, 10:53 AM | #5 |
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Doubt it. I think you would have to pay slightly higher than auction prices. At auction price, they would probably be willing to CPO and try to sell it for more, and then send it to auction if it didn't sell in a few months.
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03-31-2009, 03:07 PM | #6 |
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Slightly off-topic question....
My lease is up in October and I am going to be WAY under the 20k miles alloted. I have only put up 11k miles in 18 months of ownership. I suppose it's my loss for having paid for the miles but not using them? What kind of "deals" can be negotiated when I return the car at lease-end? |
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03-31-2009, 03:42 PM | #7 | |
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Quote:
The MMR of course is driven by supply and demand. As a whole, demand for used cars is up because human nature drives the urge for something new, as the economy weakens this need is satisfied by "new to you". In the spot market the Z4M particularly the "C" is a bit of a pariah. When these were sold new they did not appeal to the traditional BMW customer base. In 2007 BMW overproduced these and many units lingered on new car floorplans until the cathartic sale at the end of 2007 when dealers blew these out at invoice minus $7500. 90% of these 2007s are on 24-36 month leases so they should start to come full circle this summer with the peak hitting next winter. Dealers are required to keep a certain percentage of cars they lease out but are likely to keep the models that sold well when new and turn the less marketable ones back to BMWFS. These returned cars then flow through Manheim and any glut will drive the MMR prices down. If you are motivated by price, I would suggest waiting until the peak hits but if you are driven by human nature then buy carefully with an eye to hold onto it for 3 or more years. Last edited by minime; 03-31-2009 at 04:17 PM.. |
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03-31-2009, 04:01 PM | #8 |
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Bimmernorb....good detective work! I bought the DFW Silver Gray Met with low miles, at a 10% premium above the base lease return. Did not have nav or extended leather. It did have the gray top and looked like it had never been driven.
However, the price I paid was 5% less than dealer re-sale offers, and 5% above private party sales at the time. The dealer re-sale asks have come down another 5% and I would expect that you could find a 2006 dealer certified for less than @30K for max 20,000 miles. The extended warranty is worth paying a premium from a BMW dealer IMO. Anything below $28K is a great deal. There is still a 50 mile new 2008 loaded Blue Z4MR at a local dealer that has been dropped to $44K. Original dealer ask in Nov. was $58K.
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'06 Z4 ///M Roadster: Silver Gray Metallic; Gray soft top. Zeckhausen CDV. ESS VT1 445 Supercharger. APEX ARC8's. Dunlap Direzza Star Spec's. Strong Struts. Royal Purple. RPI Exhaust w/ DKF hangers.
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03-31-2009, 05:37 PM | #9 | |
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Thats the info I was looking for, thanks. It would be nice to get a Z4M Coupe in the high $20's with under 30,000 miles. |
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