After 2 months of horrible deals and ignored emails from tons of dealers, I’m closing in on what looks like a good deal. $328/mo $2213 DAS
Selling Price: $51000
Incentives: $7500 tax/lease credit, $2000 loyalty - they said they couldn’t stack the USAA and OL so they took another $1000 off the $52000 I proposed initially. Not my problem, I know it can be done but it’s the same to me either way.
MF: .00131 w/7 MSD
Monthly: $328 - taxes on doc and acquisition are spread out over the monthly payments
$699 doc (ouch)
$328 1st payment
Will do CCA for $866 off as well ($1000 rebate minus $134 membership fee).
Couldn’t have gotten this close without this group, so much good information to read through. Thanks so far for all of the help too!
At first glance, that monthly payment seems awfully high to me.
A few suggestions:
Take a .0005 bump up on the money factor to eliminate the $925 acquisition fee. This is worth doing for the 24 month term. (The dealership may need to speak with BMWFS to verify, but it can be done.)
Do you have a Costco membership (or know someone that can add you to theirs)? That’s worth another $500 into the deal.
That “doc” fee is bogus, and can likely be negotiated away. This is almost certainly additional dealer profit (check to see if it is included in the sales tax calculation). Just tell them you don’t want to pay it and see what happens! (It can’t hurt to try…)
You did not mention, but there are commonly large state & local incentives for electrics. Not sure where you are located. In Connecticut they hit me hard by taxing all the (many) rebates, but gave me a $2k rebate that made me feel a whole lot better. This was applied as a credit at delivery (as if it was cash).
Wow, thanks for the MF tip! Edit: My numbers were off, I’d be within $5 of the original OOP for the course of the lease if I did the acquisition waiver. The MF should be .00181 with the adder after MSD, correct?
I know the doc fee is bogus but I’ve had enough dealers start to ignore me, this one seems like we might be in the home stretch
I do have to pay sales taxes on the doc fee which is another $2.62/mo.
My incentive for the EV is a whopping $50 for telling the electric company I’ll be giving them a little bit more money every month to charge it.
That looks like a pretty great number to me, but that’s just my opinion. I didn’t bother putting it into a calculator, but in head I got just under 13 for a leasehackr score (that’s including your taxes and reg, which normally isn’t done). Isn’t that considered good?
One thing I noticed, if you want to really bring this down, you’re doing 12k a year. It might vary from model to model, but on my 3 series mileage is only 16 cents, if you buy it in the last 4 months (but before turn in). You should get a % more RV if you do 10k.
You obviously know your driving better than random internet person, but that means if you drive less than 11800 a year, you’re better of doing 10k and just buying miles later. Plus later on if you trade in, transfer the lease, do a pull ahead, or the car gets wrecked, you don’t have to worry about miles anyway.
You should be able to get that discount without the doc fee.
10-11 percent off should be the goal before any incentives. You are at 11 before that 699 doc fee.
I did a 30/10 on this lease and the whole time I kept thinking about miles and keeping it down. I was right on track to turn it in at maturity with the proper amount and no overage, but that included borrowing another car for longer trips. Now I won’t have to worry.
The RV for 10k is 64%, about $670 less over the lease for 6000 less miles which would cost $960 at $0.16/ea. I’ll go with more miles as I’m sure I’ll use them. A trip to FL or Canada can make sure I turn it in without any money on the table
This is pretty close to what I’ve worked out.
You can make yourself crazy trying to look at every angle, but I also considered the cost of tires on my i3 lease, and went with a 24/10k. From my research I learned how the i3 likes to eat-up these goofy bicycle tires. We might be lucky just to squeak-by with 20k miles on the original set. (With the last lease on our 320i, I was sure BMW would flag me for tire wear, but they did not.) Going to 25k total miles (on a 30/10 lease) might just push too far. Replacing a set of these Bridgestones (the ONLY manufacturer producing this size tire) will cost well over $800. This adds a substantial $27/mo when amortised over a 30 month term!
Oh and to add insult to injury, you can’t rotate the tires on this thing, width is different on the front and back.
Tires can be had for somewhat cheaper if buying on eBay/during a coupon sale, I’ve had to replace all 4 and then some - not only as joeblogs says are they different width front and back and as you say Bridgestone only, these tires like to eat nails but really they’re so narrow that a lot of nail hits occur in the shoulder where nobody will repair.
Add to that how damn fun it is to launch from zero and feel the instant torque and well, you’re paying for that too.
But yeah, I buy extras when eBay has a good sale and hold onto them as I know I’ll need them.
Costco now stocks i3 tires. Also DO NOT, I repeat DO NOT go with the 20s. They are a summer only tire and wear 2x faster than the 19s. Also they will be shaite in NE winters.
Join the i3 worldwide group on Facebook. Lots of good tips and people on there. almost as good a community as LH.