Is it cheaper to lease a Toyota Supra or BMW Z4? Well, the answer might surprise you, but there’s also a catch

My wife will be the first to tell you that I suck at math, but after reviewing Cars Direct’s findings of lease cost for the 2020 Toyota Supra and 2020 BMW Z4, even I can tell you things don’t add up properly – and that’s saying a lot. In short, the more expensive BMW Z4 is cheaper to lease than the Toyota Supra, even when you go for the Z4 M40i and compare it to the entry-level Toyota Supra. Yikes!

2020 BMW Z4 vs. 2020 Toyota Supra Lease by the Numbers

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If you look at the numbers, the entry-level 2020 Toyota Supra starts at $50,945 with destination fees included. The entry-level BMW Z4 sDrive30i with BMW’s Convenience Package and Metallic Paint is priced at $52,596 – and remember, you’re getting two paid options with the BMW. The price is still higher than that of the Supra. The lease figures for the Supra and Z4 in this configuration are shown below

Toyota Supra vs. BMW Z4 sDrive30i Lease Cost
2020 Toyota Supra 2020 BMW Z4 sDrive30i
Price $50,945 $52,695
Down Payment $3,426 $4,524
Monthly Payment $776 $599
W\ DP Included $871 $725

Note that in the monthly payment figures listed here, the entry-level BMW Z4 is cheaper with and without the down payment averaged out across the 36-month lease term.

Maybe this seems fair considering the entry-level Supra comes with 335 horsepower (official from the manufacturer, anyway) while the Z4 sDrive30i delivers just 254 horsepower from a 2.0-liter four-cylinder.

If you want the same inline-six in your Z4, you have to for the Z4 M40i, which is undoubtedly going to be more expensive to lease than the Supra, right? Wrong.

If You're Thinking of Leasing a 2020 Toyota Supra, You Might Want to Consider the 2020 BMW Z4 Instead
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The lease numbers for the 382-horsepower, BMW Z4 M40i increase substantially over the cost of the sDrive30i, however, it still comes out cheaper than the Toyota Supra. And, to be clear, we’re talking about the M40i with BMW’s Driver Assistance Package and Metallic Paint, with an MSRP of $65,745, including destination.

Toyota Supra Vs BMW Z4 M40i Lease Cost
2020 Toyota Supra 2020 BMW Z4 M40i
Price $50,945 $65,745
Down Payment $3,426 $5,624
Monthly Payment $776 $699
W\ DP Included $871 $855

Here, you see that even before the down payment is factored into the monthly cost, the Z4 M40i is still cheaper to lease on a monthly basis. You have to pony up almost $1,200 more in your initial payment, but when you spread that $5,624 across the 36-month lease term, you’ll still average $855 per month – still $16 cheaper than what you’ll average on a base-model Supra.

The match just doesn’t add up... or does it?

How Many Miles Are Included with the Lease of a Toyota Supra or BMW Z4

If You're Thinking of Leasing a 2020 Toyota Supra, You Might Want to Consider the 2020 BMW Z4 Instead
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BMW gives you a 10,000-mile allotment for every year of your lease or a total of 30,000 miles for the entire lease term of 36 months.

Toyota offers up 12,000 miles per year or 36,000 miles for the entirety of the 36-month lease. So, while the BMW is actually cheaper to lease, even in M40i trim, if you need more than 30,000 miles, the Toyota Supra might end up being a better deal after all. BMW charges $0.16 for every mile you go over in a 3 Series, 5 Series, or its SUVs, but the 7 Series will set you back $0.22 per mile. It’s safe to assume that BMW will apply something within this range for the Z4 as well. So, if you lease the M40i and actually put 36,000 miles on the clock you could, in theory, pay as much as $960 - $1,320 in mileage overages which would, suffice it to say, make the BMW ultimately more expensive, so be sure you choose carefully and double-check the overage fees for either lease, just so you know what you’re getting into.

Toyota Supra vs. BMW Z4 Lease Mile Allotment
Toyota Supra BMW Z4
Mothly Miles Allowed 1000 Miles 833 Miles
Yearly Miles Allowed 12,000 Miles 10,000 Miles
Total Miles Allowed 36,000 Miles 30,000 Miles

Final Thoughts

If You're Thinking of Leasing a 2020 Toyota Supra, You Might Want to Consider the 2020 BMW Z4 Instead
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I have to admit that after looking at this lease numbers, the BMW Z4, even in range-topping form with options, is ultimately cheaper to lease than the Toyota Supra – at least in its entry-level form. You also get more horsepower in the Z4 M40i than the Supra officially offers despite dyno tests that say it has more. The point is that this is a good reminder that it’s best to shop around when considering a lease, especially when you’re considering a model that was built in collaboration with another automaker (think Subaru BRZ and Toyota 86, for example.)

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