Always nice when our BMW supplier, BMW Park Lane (https://www.bmwparklane.com/), visit the team – particularly when they arrive in the updated BMW Z4. Having recently undergone a model change, the Z4 is BMW’s answer to the Mercedes SLC and the Audi TT, which it has probably failed to compete with historically. In truth, the smaller convertible/sports car range has been less popular; for starters the UK is cold and wet but moreover many customers need more functionality and practicality. A 2-seater soft top is not exactly high on most families agenda, it is very much an ideal car for the smaller household or the retired customer.
With parking space at a premium and budgets/fuel being more tightly constrained, sensibility tends to form a key part of the consideration process. That being said, in our recent Instagram poll, over 50% of those voting did say that they would consider a convertible to buy/lease but, in comparison to our fleet data, very few are committing to them. Indeed, the SUV remains the ideal style of vehicle for most of the UK.
Surely leasing a performance car is ok as you get insurance included? There are so many misnomers about our industry, mostly because customers who believe they are “leasing” are indeed taking on another financial product like car hire, flexi-lease or even a PCP. Either the dealer/broker hasn’t supplied the correct information or they just haven’t understood it properly. We try to encourage customers to consider contract hire, a long-term usership product, as the true form of leasing to avoid confusion.
What you get and what you don’t get with leasing should be considered carefully as this is going to let you know if it is an affordable proposition. When you lease a vehicle it will most likely be brand-new or nearly new (no more than 3 months old – pre-reg). This means you get the benefit of the warranty, which will vary from manufacturer to manufacturer. This is only going to cover you for issues or defects arising through no fault of your own – don’t presume this provides you anything else. In most cases, you will get at least 1 years’ breakdown cover from the date of registration, although some manufacturers will give you 3.
So do you get insurance included with the warranty? Customers need to carefully distinguish between the different element of the vehicle; insurance has no synergy or collusion with the warranty. In almost all cases insurance is separate to the financial arrangement and it MUST be arranged by the customer. It is very rare for a car leasing agreement to include insurance too. Comprehensive packages to include all of the elements are incredibly rare – there is a Total Care programme by Arval which is aimed at company car drivers transferring to personal leasing agreements. However, in terms of getting insurance, this is restricted by age and location.
Some dealers will use manufacturer-backed comprehensive “just add fuel” packages but, again, these have a number of restrictions. It is not the case that everyone can get this. We suggest that a customer reviews the cost of insurance on a price-comparison website (like Moneysupermarket) and procuring the car separately before jumping into one of these all-inclusive packages; it may be cheaper to organise separately. The servicing/maintenance will either be at the cost of the driver (a driver-maintained agreement) or included with the contract (a funder-maintained agreement).
We encourage our customers to do their homework first in that they should consider the fuel costs, servicing, rental costs and insurance before signing any agreements. We call this a Whole of Life cost analysis. For our personal customers this is about long-term affordability and financial health. Try to make sure you get a product and vehicle which meets your needs and requirements – don’t just choose the cheapest car you like!
In terms of the car shown, the BMW Z4 ROADSTER sDrive M40i 2dr Auto, this is based on the following configuration:
- Frozen grey – Individual paint
- Vernasca leather – Black with decorative stitching
- Soft top – Black
- Enhanced bluetooth with wireless charging
- Comfort Package
As standard the car includes Bluetooth, front/rear parking distance control, cruise control, green tinted glazing, heated windscreen and washer jets, ASC, brake regeneration, DTC, CBC, m sport brakes, velour floor mats, auto start stop, Live cockpit professional with a 10.25” instrument display, interior mirror with ant-dazzle function, advanced loudspeaker system, LED indicators/daytime running lights/rear lights, heated steering wheel, air conditioning, leather upholstery, m leather steering wheel, ambient lighting, electrically adjustable and heated door mirrors, 19” alloys and vehicle immobiliser. In terms of additional options consider – parking assistant and the visibility package.
On the technical-side, company car and business users can note the P11d at £49,630.00 and CO2 at 168g/km. The 2998CC 8 speed petrol auto engine delivers 38.7 combined MPG (EC), 33.2 (WLTP), 340ps and 0-62 times of 4.5 seconds.
So would you select this as your next car leasing option? Or would the Mercedes or Audi be your next car?