Update on 02/06 : Thanks a lot to @blablabla who made a generous donation after getting his i3. He put a very generous value for my efforts and donated $300 split between this site and my supported charity.
I am not expecting anyone who got this car to do the same amount but if you feel that this site and my post helped you in any away, please donate to this site on https://leasehackr.com/donate/ which will help this site stay up and have us all get together to keep hacking such deals. All amounts whether small or big are equally appreciated as this site don’t generate any revenue from Advertising. Kindly visit the link below and drop a line of appreciation to @blablabla for his generous donation.
Year, Make, Model, and Trim: [2017 BMW i3 REX]
Selling Price: [$43,200] 13.59% off MSRP.
Rebates: $13,000 [$7500 iCredit, $2,000 lease cash, $2,000 BMW Loyalty, $1,000 Buildout Cash on 2017s only & $500 Fleet. ]
Annual Mileage: [12,000]
MF: [0.00172] derived by 0.00152 add 0.0005 to remove Acquisition Fee less One pay discount 0.0003
Security Deposit: [$0]
Total Due At Signing: [$1303 One Pay] + $330 NJ DMV + 97.5 NY Doc fees, tire fee 12.5 and NY Inspection sticker for $10.
Total out of pocket $1731 as one pay.
Monthly Payment (incl. tax): [$0]
Zip Code: Anywhere in NJ
Sales Tax Rate: [0%] The only time I ever felt something to be cheaper in NJ
Leasehackr Score: 60.5 years
I want to thank each and every forum member who posts here to motivate me get this deal. I was in the market for a car to replace my aging G35 which my wife drives for last few months and shopped multiple brands from Infiniti, Mercedes/BMW loaners but decided to get this car as she wanted a smaller car which was safe for mostly around town duties and i3 checked all lists.
As I always suggest to other members I never stepped foot in the dealership till pickup time and this time went little extreme by never seeing the car in person on the day of vehicle pickup.
The biggest problem with finance manager was that after all my negotiations and rebates the adjusted cap cost was lower than the residual value. He however made adjustments and it all worked out in the end.
@ConnecticutCarGuy Your i3 deal was what got me interested in an i3 to begin with and when I looked at the numbers I knew right away that I can get this car below $100/mth but it turned out to be much better as we see now.
Update - I am getting a lot of PM’s if this can be replicated. To all my (desi) friends from NJ/NY who are constantly PMing me, Yes its very easy to replicate it. Do as per below to find the car.
Find the car with Cheapest MSRP that meets your requirements.
Negotiate the best possible discount off MSRP. Ask for 15% off so the dealer starts at 10%. Ignore the dealers who quote any less than 10% off.
Make sure this deal is for people registering in NJ as the state doesn’t charge sales tax on Electric Cars. The 13K in rebates is also tax free and saves a lot.
Don’t pay acquisition fee instead take the higher MF. I have tried combination of 24/30/36K miles and the 24 works out best. Don’t waste your time calculating it again. The residual of 10/12K at 24 months is best.
I could have saved around $20 bucks more doing a 10K lease with a LeaseHackr Score of 89 Years but I needed more miles as I am trying to get from 3 cars in family to 2.
Buy the car from NY as you have to fight one less battle to negotiate the Doc fees (not that I ever pay it whether its NY/NJ/CT and I have bought or leased in all 3 states) and it sure can be negotiated out but wasting time on that is not worth it.
The dealer I bought the car from had this last 2017 and was in upstate NY where there is no charging infrastructure and no one bothers with EV.
The discount that I got was little tough to get but getting around 11% was very easy so you need to work hard for those last 2 points.
Don’t ask the sales person that you want this car for 50-60 a month. He will laugh at you and hang up. Just ask for the discount of MSRP and go slowly with them. No need to mention the exact amount of rebates either. If they know you will be using 13K in rebates they are reluctant to discount it more.
Finally, enjoy the look on the Finance Managers face when he/she takes that one pay lease amount and congratulates you on the deal.
If you still have any more questions do let me know.