2018 330e Demo Loaner Lease

Ask the Hackrs
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I believe I have a good lease deal of $400/mo for 24 mo on a 330e demo loaner with about 4k miles on it. I was told that I can apply for the $4000 federal credit. Is this valid when the title and registration was already done initially by dealership?
Also carfax report shows below, do you guys think I should look for other cars?
Accident reported
Disabling damage reported
Vehicle towed
Airbags did not deploy

Accident reported
Involving undercarriage impact
Vehicle towed
Airbags did not deploy

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Hmm… I’m going to say negative on the $4k federal credit. I don’t think that’s a consumer credit on a lease. You can’t even get the CVRP rebate on a loaner.

Also, how are you at $400/mo on a loaner that has accident history? Doesn’t seem like much of a deal.

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Thanks for your reply @dukez The car MSRP is $55595 and I was getting $400/mo with just first month payment and I was expecting that $4k federal credit which dealer mentioned. I just found out that the car status changed to Sale Pending. I guess I should keep searching :slight_smile:

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Don’t sweat it. You’ll find something better. And less damaged.

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You can never get the federal in a lease, it has to be titled in your name.

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What if it is OC program?

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Then you take it and run, and don’t look back

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Then run the VIN and make sure it was never titled. That would still disqualify it, technically.

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Carfax shows dealer took possession of title but the sales person told me that they never applied for the tax credit and they are passing it on to the 1st owner who will lease it.

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My reading is that would still make it ineligible. It doesn’t matter if the original title holder got the credit, the fact that they held the title makes it ineligible for the next owner.

Now, would you actually get in trouble? From what I can tell, they would only know if you were audited. And if you have something saying the car is sold as new the at least you would have plausible deniability.

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As long as it says new on the Bill of Sale and Title you are good …

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Thank you all for your replies. I will check with dealer tomorrow, the car is already showing as sale pending.

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What 4K federal credit for a lease? He’s not buying it.

In CA loaners are punched as used and he wouldn’t even get CVRP.

Dealer hasn’t got a clue.

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Besides that’s not a good deal, especially the final week of lease support. Aim for at least what I got in January, New, not punched which gets you BMWCCA 500 and SCE 1000 and with 1200 net out of pocket including first month, 347/mo with la tax. Msrp 55,595
Others here have since blown that out of the water in February and March as the rebate is higher and the dealers more willing.

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@02cic Can you please post your quote with the car MSRP and the discounts that you got? I am located in GA and we do not have state tax credits :frowning:

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Before you go with a loaner via OC, make sure it has never been titled and that the loan docs say “new”, otherwise you are not technically supposed to claim federal tax credits!

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ISee here
https://forum.leasehackr.com/t/signed-2018-bmw-330e-msrp-55k-319-mo-tax-tdas-2-5k-plus-msds-x7-new/97912

Net 1200 OOP includes BMWCCA 500 and SCE 1000 rebates

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Loaners are punched as used in CA. It may have been the case in the past that they did not do that but no longer.