Hello everyone, newbie here. I received the quote from a socal dealship and am looking for some advice as I never leased before. Would this be considered a good lease.
2017 BMW i3 REX
$54,295 MSRP
$49269 Selling price (10.4% off)
24 months
10k miles
64% residual
.00152 MF (OAC)
$7500 iLease Credit
$2000 Lease Credit
$2000 Loyalty Credit
$109 Month including tax
$2,500 down + drive off*
*lease drive off total $2861
Another question, forgive my stupidity, the Bmw iLease credit is $7500 along with bmw loyalty, 2k, is $9500. However I also get a 10K discount for being USAA member which cannot be combined with the 7500 ilease, does it make more sense to buy the car at that price.
The USAA program is intriguing but you trade a ~200/mth lease payment for a PHEV you own. Do you want to own the vehicle where technology frequently changes? Check locally and see what a 3 yr old one is worth (these vehicles do not hold their value well). Also, if you are in CA, see if the vehicle qualified for any state rebates (might need to lease for at least 30 months to qualify). Also, in a purchase, the 7500 doesn’t flow back until taxes are filed the next year, so you still need to pay it up front.
I don’t think it ever makes sense to buy an i3. The depreciation is very steep, and the range and technology are likely to be radically improved within the next 2-3 years. It makes a fine lease, but this offer feels a bit off market. You’ll see other posts here on Leasehackr for other i3 deals with similar payments and $0 drive offs. 24 months also disqualifies you for certain state incentives. If you lease for 36 months or more, you may be eligible for a substantial cash payment from the CA Clean Vehicle Rebate Program. Find details on this at https://energycenter.org/program/clean-vehicle-rebate-project. Good luck.
MMR wholesale values 4d range ext giga
14’ $16,9 avg mi 27,000
15’ $19,150 avg mi 20,600
16’ $19,000 avg mi 6k (skewed by factory cars being sold to franchised dealers)
Yes, I know it’s tempting on the 50k vehicle but you really need to look at 30 month lease to qualify for the CVRP and there is still no guarantee that you are going to get it after you apply.
The best I was offered for the I3 in SoCal was $165 +tax w 2k driveoff on 24mo lease and I did not take it because I am cheap and felt that Clarity with $200 payment was better bang for the buck.
Unfortunately Clarity is not readily available at the moment, so if you need an electric car right now this could be an option.
And yea if you want to buy one and have time to wait they are relatively cheap used and I suspect will get even cheaper when first waive of the LAPD leases starts floating out to the market.3
Thanks for the info everyone but I picked up the i3 from Murietta BMW yesterday. It was their last 2017, they moved the last 3 in 2 days. El Cajon has 2017’s and they sent me a like for like deal when I was at Murietta signing the docs. I’m sure I could’ve worked out a better deal with the info here. @wtflolbbq I hit El Cajon and the other dealerships listed here. If you get one, it would interesting to see the price. Once again thank you everyone for the information.
Working on a deal now for a 2017 i3 REX in san Diego and have been provided the following figures.
MSRP: $52,395
Sale price: $46,755
$9500 lease credit that is applied up front on rebate and is taxed.
$0 out of your pocket and using the $9500 to cover drive off fees (first months payment, first years registration, $925 bank acquisition fee, $80 doc fee and tax.
Residual: $29,865.15
36 months lease X 12k miles per year = $383.60 plus tax = $413.33
Net cap cost: $39,859.61
MF:.00152
One pay lease = $13,981.53 out of your pocket
MF:.00122
I plug the figures into the calculator here and I get different numbers…as in $361 including tax. What am I doing wrong? Discount on MSRP is 10.76% which is what dealer came back with when I asked for 15%. Thoughts?
and felt that Clarity with $200 payment was better bang for the buck.