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I had a 2018 M240i convertible back to back with my 2019 Z4 M40i
Although the same engine they are very different cars to drive. The M240i felt a lot more aggressive and firmer compared to the Z4. It wasn't so good at cruising but more fun to drive quickly as you feel more involved
In comparison my Z4 is super cosseted and chilled out in all situations, even if you try and turn things up in Sport+ mode. It is much more at home just as a baby grand tourer soaking up the miles on a highway.
I think the performance is pretty much the same. Z4 slightly quicker on paper but the M240i perhaps feels faster as it's more raw feeling.
The Z4 does however sound nicer, the B58 seems a more natural fit and the exhaust is more vocal. Also it is more economical, my overall average is 28 mpg and I've seen as high as 38 mpg (UK). The M240i seemed to struggle to get above mid 20s during the same driving conditions.
Where the Z4 really moves the game on is the interior tech. The iDrive 7 system is a huge step up from the iDrive 6 in the M240i. It is packed full of extra features and feels bang up to date. The digital instrument cluster is also very cool and again makes it feel significantly more modern.
I also appreciate the extra driver aids such as the Auto hold function on the electric handbrake, and lane assist/ adaptive cruise on my Z4.
Overall I'm happy with my choice but I sometimes miss the extra sportiness/ fun factor the M240i offered.
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