You'd think that because both the new Toyota Supra and BMW Z4 were co-developed, sharing the same platform, engine, and gearbox, they'd be priced roughly the same, right? Not necessarily, specifically when it comes to leasing. It's always important to examine the fine print on any auto lease agreement before signing the dotted line, especially if you also considered purchasing the vehicle in question instead. Which is the better deal?

When it comes to leasing a new 2020 Toyota Supra or a BMW Z4, CarsDirect has done some homework and the numbers are surprising. Turns out the Supra can cost more to lease than the Z4 by almost $15,000, depending on trim. The base 2020 Supra carries an MSRP of $50,945 with destination. According to Toyota's online payment estimator, the coupe can be had for $776 a month for 36 months with $3,426 due at signing.

This is essentially an effective cost of $871 per month and that's before taxes and any other fees. Pretty steep, right? Indeed it is. The 2020 BMW Z4, to compare, can cost quite a bit less – if you opt for the base 2.0-liter turbo-four engine. The Z4 sDrive30i being advertised in California with the Convenience Package and metallic paint has an MSRP of $52,695, or $599 a month for 36 months with $4,524 due at signing. This is an effective cost of $725 per month.

Comparing the two vehicles and their prices reveals the Supra is $1,750 cheaper on paper though it's $146 a month more expensive to lease. Toyota does, however, offer a greatly yearly mileage limit of 12,000 miles versus BMW's 10,000-mile limit.

Given all that, it might be a better deal to instead lease a Z4 M40i, which is currently being advertised with an MSRP of $65,745 when equipped with the Driver Assistance Package and metallic paint. Leasing will cost you $699 a month for 36 months with $5,624 due at signing, which translates to an effective cost of $855 a month - $16 less than the cheapest base Supra despite a $14,800 MSRP difference. Given all that, a new BMW Z4 M40i lease could be the best way to go.