Quote:
Originally Posted by Parrotguy
I just turned in my '07 Z4 on my 36 month lease. My buyout price was $26,400, BMW agreed to lower that by $1000. 8.75% tax here in CA plus new registration fee and I was looking at about $28,500. So I pick up the newspaper and see a BMW dealer add for an '07 3.0 CPO like mine for $24,775 asking price. Our leases were based on unrealistic residuals, so it makes no sense at all to buy it. If your heart is still on the Z4, BMW just announced a $2500 incentive, further evidence that they overpriced the new Z4.
I have a pearl white 370Z roadster on order, delivery expected in about three weeks. Sales price before tax and license $37,000 vs. the Z4 at about 55K. I know the cars aren't the same but is the Z4 worth 20K more? When I turned it in, the BMW dealer asked me what I was getting. When I told him about the price difference he said, I would have done the same thing.
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I fully agree that the leases were based on inflated residuals to make the leases attractive. BMWFS (FS=Financial Services) is an odd duck. They will no longer negotiate the buy back price, but you can do so with the dealer, and it does not have to be the dealer which originally sold you the car. Any BMW dealer can call BMWFS and get their current "Dynamic Price" (secret number based on the auction value), and then sell you the car. A friend negotiated with 2 dealers and ended up buying his car for $7,000 less than residual. This is what I was referring to when I said that you could make BMW take the depreciation hit. I'm sorry your dealer didn't make you a more attractive offer.
In any case, enjoy you new car. After yesterday's drive, I have a new respect for the 370Z.
EB