2025 BMW Z4 M40i Manual Review: BMW’s Hidden Gem

“I can’t wait for these to hit the used market in a few years,” I thought to myself, as I hit another two-three upshift. But then I came to a crushing realization—the manual-equipped 2025 BMW Z4 M40i isn’t going to be in my price range in a few years. If anything, its value is going to go up because it has all the makings of an instant future classic.

This generation of Z4 was first met with mixed reviews. Looking at initial test drives from car magazines show that most people liked the way it drove (myself included), most people didn’t like the way it looked (I liked it, actually), and most people thought it was too expensive (I’ll raise my hand again). There were many cries for a manual transmission as the compact, lightweight Z4’s chassis and powertrain were begging for one. However, since the Z4 wasn’t selling particularly well, with a demise rumored almost as soon as it was launched, that didn’t seem to be in the cards. Until it was.

When BMW finally announced that the Z4 M40i, one of my favorite modern Bimmers to drive, was getting a manual transmission, I was elated and couldn’t wait to get my hands on one. I knew it would be one of the best-driving BMWs in years. I was wrong, though. Instead, it’s the very best BMW you can buy right now.

The Basics

The Z4 is the other half of BMW and Toyota’s short-lived partnership. Thinking of it as a convertible Supra isn’t entirely accurate but it’s a good place to start. The Z4 M40i has essentially the same chassis and powertrain as the GR Supra 3.0 but with BMW’s own steering and suspension tweaks. And now that both the Z4 and Supra have had their mid-cycle facelifts, the tuning differences between the two are more noticeable than ever.

Despite going through what BMW calls an LCI, or “Life Cycle Impulse,” the Z4 looks pretty much the same as it did when it first came out. It still has insectoid headlights, a long hood, wide mustache-like kidney grilles, and a stubby rear end. It isn’t the prettiest sports car in the segment but with the rest of BMW’s lineup looking like mildly irradiated beavers, the Z4 stands out as one of the best-looking new cars with a blue-and-white Roundel. The Z4 ain’t winning many beauty contests outright but it’s unique and I appreciate that. My test car’s Frozen Deep Green paint isn’t the best color option in my eyes (that would be Thundernight Metallic purple), but it’s still a damn good one.

Inside, the Z4 is a reminder that BMW used to be great at making interiors. No ground was broken with the Z4’s cabin, no “breakthroughs” were made. It’s a simple, straightforward space that does everything it needs to, nothing it doesn’t, and—most importantly—doesn’t distract its driver with gimmicky bullshit. The phrase “everything falls to hand” is so overplayed I fear using it. So I’ll just say that BMW was wise to keep all of the Z4’s important controls easily within reach. The seats are great—comfy for long-haul drives and supportive through corners—and everything feels solid enough to hold up for decades without a single squeak or rattle. The two-tone Cognac and black color scheme fit the matte green paint perfectly, too.

Driving the BMW Z4 M40i MT

Here’s where I’ll shamelessly, effusively praise the good engineers in Munich. BMW’s B58 engine, the 3.0-liter turbocharged inline-six, is one of the very best six-cylinder engines on the planet. It’s effortlessly powerful, silky smooth, and makes all sorts of good, mechanical noises that are best heard from the roofless cabin of the Z4. But the B58 has been on sale for almost a decade, so that isn’t surprising. What is surprising is how much I enjoyed this new manual. BMW manuals were always kind of meh, with rubbery, vague shifts, and an annoying clutch. The annoying clutch remains in this Z4, but the shifts are better than I remember. Maybe I’m just getting older and wiser, but the Z4 has the best gearbox of any manual BMW I’ve driven in recent memory. The combination is a joy to use.

Few things in life are as joyous as driving a lightweight, two-seat convertible with six cylinders, three pedals, and a stick. And the Z4 M40i absolutely nails the assignment. Its steering is still a bit too vague but it’s weighted well enough and the front end is remarkably sharp. And since you feel like you’re sitting on the rear differential, you feel the car’s responses and changes of direction as if you were wearing it. Are there better convertible sports cars? Sure, but the Z4 M40i has an old-school hot-rod vibe, capable of smoking its rear tires on command, that gives it its own character.

Perhaps what impressed me most about the Z4 was its suspension. I made a custom Individual drive mode with Comfort suspension and Sport for almost everything else, and I kept it on for every drive, as it was perfect. You might not think such a low car, with such big wheels—19 inches up front and 20 out back—would ride well but the Z4 rides beautifully, even over some typically rough patches of pavement near my house.

The car isn’t bad with the roof up in the rain, either. As is my typical luck, when I first picked the Z4 M40i up, I had to drive it 100 miles home in the most violently torrential downpour I’ve ever experienced. My typical hour-and-a-half drive became a three-hour drive. During those few hours, I obviously had the roof up, with Apple CarPlay connected, and just leisurely cruised listening to various comedy podcasts and the soft top’s sound insulation proved surprisingly good.

The Highs and Lows

One big Z4 high I’ve yet to address is its addictive power. BMW claims 0-60 in 4.2 seconds with the manual (the auto does it in 3.9) but, honestly, who cares? It shoves you back into your seat, makes a great noise, and lets you shift gears by hand. But it’s also quite good at just being a convertible. The power roof, for example, opens in just 10 seconds and can be conveniently done at up to 30 mph. There’s also very little wind noise at speed with the top down and windows up. I regularly highway cruised like that and it was never too blustery. Even its trunk is surprisingly big for such a small convertible.

Now let’s nitpick. The digital gauges are still terrible. They’re somehow both technically limited and overly confusing to read, while also being boring to look at. Unfortunately, BMW’s newer screens aren’t much better. The clutch is still frustrating, with a vague engagement and too much springback. However, after spending a week with the manual Toyota Supra and then a week in this Z4, I did eventually get used to it. It isn’t cheap, either. At $77,470 as-tested, the Z4 M40i is more expensive than the BMW M2, Chevrolet Corvette, and Ford Mustang Dark Horse, all of which are more powerful and faster.

BMW Z4 M40i Features, Options, and Competition

You don’t need to check many boxes to have a well-equipped Z4 M40i. Since the M40i is already the top-end Z4, it comes with adaptive suspension, heated seats, a heated steering wheel, and an M Sport rear differential. An entry-level, four-cylinder Z4 sDrive30i starts at $54,595.

However, being a BMW, there are of course boxes that can be checked and they aren’t cheap. That pretty matte green paint? That’ll cost you $2,950. The Premium Package? Sets you back $1,250. BMW even charges $200 for the wireless charging pad. And, unfortunately, if you want the manual transmission, you have to opt for the $3,500 Handschalter Package.

That being said, if you want a premium, rear-wheel-drive, two-seat roadster, your options are relatively limited these days. There’s the Z4, the Porsche 718 Boxster, and the Chevy Corvette Convertible.

However, the Boxster costs more ($76,895 to start) and comes standard with just four cylinders. And the Corvette Convertible ($76,995) also starts higher than a loaded Z4 M40i and doesn’t offer a manual. If you want an old-school, front-engine roadster experience, the Z4 is almost all you’ve got. Sure, you can get a Mazda MX-5 for half the price but that’s half the performance and luxury.

Fuel Economy

People buy cars like the Z4 as their second or third car. It’s a toy, not something to rely on regularly. Even still, no one likes throwing money out the window, especially at the gas pump. In that regard, the BMW Z4 M40i is surprisingly good. According to the EPA, it’ll do 19 mpg city, 26 mpg highway, and 22 mpg combined with a stick shift. That bests both the Boxster and Corvette. However, I saw … less than that.

Value and Verdict

OK, so the Z4 M40i isn’t the best value on paper. For similar money, you can realistically get a Boxster, which is the better sports car. You don’t buy a Z4 because it’s good value, though, you buy one because you like it. And if you like it enough, its on-paper value is meaningless. However, I will say that the Z4 M40i might make a fairly rational case for itself when you look five, maybe 10 years into the future. When most cars are electric or hybrid, manual rear-drive sports cars will be a hot commodity among enthusiasts on the used market. And the Z4 has the added distinction of being a convertible. I genuinely believe that the Z4 M40i is a future classic, something that car nerds will “oohhhh” and “ahhhhh” at several years from now.

But even right now, the 2025 BMW Z4 with a manual transmission is an excellent sports car. It’s one of the most unique driving experiences that you can buy new right now. I’ll even go as far as to confidently say that it’s not only the best-driving BMW on sale right now, but it’s the best-driving BMW since the incredible M5 CS.

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