BMW i3 Lease Norcal

Ask the Hackrs
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1

I’ve been pretty fed up with the commute from the EB into the city and decided to pull the trigger on an EV vehicle. As a former Volt lease holder, I’m accustomed to to quirks EV driving brings.

Late last night I came across a dealer in the Bay Area that had a base I3 advertised at $123/month with 5500 down for a 24 month least. The advertised sale price of the vehicle was ~$2000 off of MRSP. I searched Truecar.com to find out someone had recently purchased and I3 of the same build for 41500 or $4,500 off MRSP. After a few back and forth emails and a quick phone call, the dealer agreed to honor that sale price. Combine that with 10,000 in rebates and I think I landed a pretty good deal. All told, I was out the door with $0 down at $211.50/month (excluding tax) for a 10/24 LH Score of 16.7 Added bonus, I’ll save ~45min/day in commute time with the HOV.
(edited as I don’t qualify for the state rebate)
Let me know your thoughts.

Here are the details:
Year, Make, Model, and Trim:
2018 BMW I3 Base Deka World with backup sensor

**MSRP: $45995
**Selling Price: $41500
**Monthly Payment: $211.50 (excluding tax)
**Cash Due at Signing: $0
**MSD:0
**Incentives:
$7500 BMW Lease Credit
$2000 BMW Loyalty
$500 Employer Discount

$500 PGE

**Months:24
**Annual Mileage:10,000
**MF: ~.0011
**Residual:~62%

**Region:Nor Cal
**Leasehackr Score:16.7

1 Like
2

State rebate generally needs min 30 months of lease. Perhaps the carpool stickers would be fine. have you double checked that part?

3

Thanks. You are correct about the Rebate. The HOV shouldn’t be an issue as the sticker stays with the vehicle.

4

You are still qualify for PG&E rebate ($500)!

5

It’s $0 due at sign ? From my calculations, it seems like $16xx due at sign. Around $214 a month.

6

$0 down, drive offs were ~$2800 as follows:

1st months payment = $231.00
Fees = 644.40
Sales tax on Capex reduction = 1010
Acquisition fee = 950

7

Sounds like an insanely attractive deal. Was it BMW Concord or somewhere else?

I thought the MF was 0.00166 w/no MSDs

You don’t qualify for the CA rebate because your income exceeds the limit, right?

Have you taken delivery of the car yet, because there might be a BMWCCA incentive still.

8

He doesn’t qualify for state rebate because his quote is for 24 month… To qualify the state rebate need min. Of 30 month.

9

I understand that. But if he did qualify for the CA tax rebate, why not do 30-36 months? I suspect he doesn’t qualify for the state rebate due to income limitations and was just verifying that was the reason.

10

Unfortunately, I simply forgot about needed to lease for 30 months to qualify for the state rebate. The price of the lease was going to increase about $40 - 50/month with the longer term which is why I initially decided to stay with the 24month term. I’m going to call the dealer to see if there is any ability to shift to a 30 month term.

Regarding the MF, you may be correct. the MF was an estimate.

11

From my calculation… for 24 month you will be paying around $283 a month after PG&E rebate.
for the 30 month… yes you will be stuck with the car longer, but after the state and PG&E rebate… you will be looking at around $212.5 a month … so totally 30 month will be cheaper than 24 month, it’s weird haha but ya, I’ll suggest you go with 30 month.

I forgot about the min. of 30 month rule for the states rebate 2 years ago when I get my i3… now I’ll never forget about it.