2017 BMW i3 Rex Tera (fully loaded except sunroof)
MSRP: $58544
Selling Price: $52676
Rebates: $11500 (7500 federal ev, 2000 lease cash, 2000 loyalty)
Trade-in: [$0]
Months: 30
Annual Mileage: 10,000
MF: 0.00152
Residual: 61%
Security Deposit: [$0]
Total Due At Signing:$1784
Monthly Payment (incl. tax): $322
Zip Code: 92625
Sales Tax Rate: 7.75%
Since you signed a 30mo term you should be eligible for cvrp as well for an additional $1500 rebate.
Thanks. I will apply for CVRP. What is the 1500 rebate for? Deals done so it’s all a moot point at this stage in the game but just out of curiosity…thx
CVRP is a rebate given by the state of California for EV purchases.
So the $7500 gets factored into the lease payment as a 1:1 reduction in cap cost? For some reason, I thought that particular tax credit was handled separately from the lease (i.e. at tax time).
@trud9340 When you lease, you do not get the federal rebate. It goes to the owner (ie the leasing bank). However, the bank can pass the $7500 to the leasee as an incentive (as BMWFS does with the i3).
Thank you for the clarification. Are they obligated to pass on the entirety of the rebate to the leasee?
No, they are not obligated to pass any of the federal rebate.