So need some experianced insight into this deal. The caveat here is no taxes. (Disability in TX credit)
Is this as good as its going to get for a Nov deal?
$57495.00
discount to $2,600
$9,500 incentives (7500 tax, 1000 loyalty and 1000 USAA)
36 mo Lease
12k miles per year
$865 Total out of pocket = 35 remaining payments of $520mo. (This is a Zero down lease)
OR
$2,000 total out of pocket = 35 payments of $486mo
$3,000 total out of pocket = 35 payments of $455
$4,000 total out of pocket 35 payment of $425mo
Did you get a full waiver of Taxes? Do you know what the Money Factor (MF) is? What about residual?
With 7 MSD (security deposits), 60% residual, lease hackr calculator says the payment should be 373
Maybe they are really marking up the money factor on you. Ask them for these details…
Thank you for the valued response.
Yes it’s the full waiver. Zero taxes
Residual i am told is 58% and the MF is .00176
So thank you for the review. I am assuming there are still a couple levers to pull but the car is so much higher in cost than most in the examples i was having hard time comparing value. I dont think the numbers are wrong, just maybe not as good as you might get. So i dont know if it will get better in Dec. Losing the 7500 would be the huge hit.
At $520/months, you are looking at more than $20k lease cost (incl. registration&fees) for 36 months, which is indeed criminal.
If you’re talking about $7500 tax rebate, it’s a tax rebate from federal government. And it’s not going away anytime sooner. In fact, since EV sales is way below federal govt.'s expectation when they launch the tax rebate program, it’s only likely they are going to increase the incentive.
I feel like this dealer might be trying to scam you with a shitty deal with the hope that you don’t do your homework (which I’m glad you asked here). I suggest you talk to another dealers in this area. I once walked into a dealership for an i3 REX and the salesman gave me a quote of $3000 drive off + $600/month. You know, sometimes they just hope you are the idiot that take whatever they give to you.
You should be aiming for at least a 4-5k discount. Just a quick search of dealers in the DC metro area is showing quite a few with Internet pricing 3-4k below MSRP.
I’m stuck having to pay tax on the entire vehicle value in VA (4.15% + $64), and I’m still looking at $430ish with only $1.5k out of pocket on a 36/12 lease. That’s a 54k i3 Rex discounted to 50.5k and I haven’t done final negotiations yet. Keep in mind I don’t get any fun state benefits and I have to pay tax on the entire cost of the vehicle, but at least I’m stacking $7.5k + $1k option allowance + $1.5k fleet.
Been kinda shopping i3’s myself lately. There’s 2 issues right now. 1, BMW (at least in CA), seems to be holding much of the inventory at dock. 2, they dropped some of the support ($1k) for Nov vs. Oct.
Others are correct that your MF is too, and your discount is too low. It’s hyperbole to call it criminal, but at $520 / mo, you can get a lot of other cars with more room, more luxury, etc. If you’re REALLY into the i3, it’s not a horrible deal in and of itself. Any $57k car for $520/mo with $0 is definitely not bad.
But, I think Dec incentives are likely to get MUCH better in Dec, or BMW is going to have a massive unsold inventory of i3s. Especially when loaded e-Golf SEL can be had for sub $200 / mo.
Here’s the metric I use with EVs. 550-650/mo is low-end Tesla Model S CPO lease territory with 0 down. And there are at least 2 leasing companies that will work that out with you. And they come with a 4yr/50k warranty. And that’s with taxes rolled in in VA. One company I talked with automatically pegs Tesla CPO residuals at around 60% of NADA.
If you’re in the market for an EV, the payments are topping $450/mo, and you’re not rolling in negative equity, I’d consider the Tesla instead.
