There's nothing magical about a lease. It's essentially a purchase with inflated fees (and usually rates) but with a guaranteed buyback amount at the end of the term (and penalties for damage or excess mileage). They made sense back in the day when BMW subsidized them, but not in this market.
Current 36mo terms on the Z4 are 55% residual and ~5% interest. Interest rate is decent/around market, at least. According to KBB trade, a '21 with 30k miles is holding about 62% of its value.
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