Apart from describing the amazing 24 hours experience in Bmw i8 zooming around in Orange County area today- I would also like to take the time to breakdown financially speaking renting vs leasing
Financials First (Because that’s the point of this forum right?)
I’m a numbers guy so I’ll just do this for fun cause I’m into that sort of thing.
Let me give a shoutout to Mark S. who owns this BMW i8 and rents it out $230 a day on weekends with UNLIMITED MILES
Lets start with the Leasehackr deal of $1275 a month from @LeaseHero or even the ROADSTER offered by @nyclife for $1221+tax (Assuming $0 Down and 10k miles per year and lets say for fun we do $0 DAS ← which honestly good luck getting $0 DAS for an i8 but lets say for giggles it’s $0
Lease based on the best LH Deal Right now
$1,221 a month plus OC tax $95 (7.75%) in one year $15,792 per year add $1,932 (Google Insurance)
So grand total for the year will run you about $17,724 per year
Mark’s Rental
$199 on Weekdays $230 on Weekends
Insurance is about $100 per day if you do the Turo coverage (optional) (SUPREME FULL COVERAGE)
Lets call this an Every Saturday Rental
$230 a Day + $100 (optional) Insurance = $330 Per Day
52 weeks with insurance in a year = $17,160 per year
So I thought it was pretty fair given the non-commitment into an i8 Lease- Definately value in the rental.
The ride was extremely comfortable and fun. Very easy to drive- I couldn’t stress the ease of parking this any way you want it versus some other sports cars I’ve driven. Definately a headturner- plenty of G-force and the night styling is superb! Highly recommend those of you in the OC to try it sometime!
Love the post! Btw, the i8 I had for special is pending sale at 1100/mo plus tax 3k DAS plus MSDs, can probably replicate it for anyone else in the market
As you already know, I believe that the i8 is an amazing car. It oozes attitude and panache. So BMW and yet so not a super car, but that’s ok. I’ve loved ours. Thanks for posting!
There’s a guy with an i8 who I see around that lists it on Turo, same general price. In his case he murdered it with blackout everything. The tints are so dark I’d be scared to drive it at night. Looks like a fun car though.
I love crunching numbers. By comparing long term and short term you get a better picture of the pay and vs the commitment/responsibility. It’s the same type of math even for primary residence in some neighborhood, towns, vacation property sometimes.
Good deal for Mark, it seems! With an every Saturday rental, you’d be paying for $12K of his $16K annual lease (75%). And he gets to keep his car for 6 out of the 7 days.
You only get to keep 65% of your earnings unless you have an independent policy then you get to keep 90%. It’s a fair deal for the renter since these honestly in my opinion is not used as a daily.
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