# Lease a BMW i3 as low as $125 a month, $0 drive-off. (Yes really) \[Updated for May\] **URL:** \ **Category:** Signed Deals & Tips\ **Created:** [April 4, 2017, 11:14pm UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153 "2017-04-04T23:14:34Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![willwar14](https://leasehackr.b-cdn.net/letter_avatar/willwar14/32/5_5575768a8748004e209b776fc1b2916d.png) [@willwar14](https://forum.leasehackr.com/u/willwar14)\ **Post date:** [April 4, 2017, 11:14pm UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/1 "2017-04-04T23:14:34Z")
## Lease program valid through May 31st, 2017. I admit the title sounds almost too click-baity. But just carry on reading. I based this post on what is available in California, if you happen to not live in California, please post if theres any incentives in your state. Also, I copied bits and pieces from a previous i3 deal on the main page so be prepared to see a lot of similar text. No, you’re not going to walk into the dealer and ask for a $130-140 per month deal, because the dealer likely doesn’t know it’s possible. Rather, you should discuss numbers with dealers to first establish the selling price of the vehicle. Then, once you’ve decided on a dealer, apply clever strategies and targeted incentives to bring the lease payment down. Do not mention what you qualify for right off the bat, no BMW dealership is going to want to let a car go for $130-140 a month. The payment in the title is assuming you can qualify for the Low Income CVRP which is $4,500. Let’s go over the factors that make this deal possible for certain individuals. **1.) Incentives** The following incentives are available to nearly all California residents: - BMW Lease Cash: $7,500 (Taxed) - BMW Corporate Fleet: $1,500 (Untaxed) and a 0.0002 reduction on the Money Factor - California Vehicle Rebate Program (CVRP): $2,500 ($4,500 for low income households) The first incentive ($7,500) is massive because, as an electric car, the i3 qualifies for a $7,500 Federal Tax Credit. On a lease, the federal tax credit goes to BMW Financial Services, who then passes on the savings to you in the form of Lease Cash. The second incentive ($1,500) is BMW’s Corporate Fleet Program, it also provides a 0.0002 reduction on the Money Factor. You can become eligible for this by joining AARP for $12 and there is no age requirement. **May, 15 UPDATE** , some people have reported that dealers have told them that you had to be a member of AARP before the program started, so YMMV, but also check if your employer is a company in the Fleet program. _Note, on May 31st, 2017 eligibility through AARP will expire_. The third incentive ($2,500/$4,500) is actually a mail-in rebate offered by the State of California. You can choose to front the money as drive off/down payment and then receive the rebate about a month later. It requires a minimum lease term of 30 months. **2.) Current Lease Programs** BMW Financial Services offers 24, 30, and 36 month lease programs. Here are their respective residual values (assuming 10,000 miles per year). - 24 Months, 64% Residual - 30 Months, 61% Residual - 36 Months, 58% Residual Without the CVRP, the 24-month term is cheapest. However, the 30-month lease comes out ahead when you factor in the CVRP, which cannot be applied on a 24-month lease. Go for the 30-month lease if you want the deal. **3.) Use Multiple Security Deposits To Buy Down The Money Factor** _BMW FS has officially killed the MSD program._ **4.) Breakdown Of Sample Lease:** Year, Make, Model, and Trim: [2017 BMW i3 94 AH] MSRP: [$45,595] Selling Price: [$40,350] Rebates: [$7,500 Lease Credit] Untaxed Rebates: [$1,500 Corporate Fleet] Down Payment: [$2,850] Months: [30] Annual Mileage: [10,000] MF: [0.0013] Residual: [61%] Total Due At Signing: [$4,500] Monthly Payment (incl. tax): [$135] **($125 without)** Sales Tax Rate: [8.75%] As you can see, the Low Income CVRP also covers drive-offs. If you don’t qualify for the Low Income CVRP, you could choose to only put down $2,500 for drive offs plus security deposits, your payment should be roughly $70 more a month. I have been able to negotiate this deal with two Southern California dealers. So this is very much possible and real. I believe there’s also other rebates based on where you live in California like for example. San Joaquin Valley, Drive Clean! Rebate Program, which is $3,000 on an i3. A $500 Rebate if you live (and purchase) in the City Of Riverside. If theres more than what I listed here, please post it and I will edit accordingly. If you happen to reside in the San Joaquin Valley and qualify for the Low Income CVRP, then this lease effectively becomes FREE! PM me if you would like to know what dealers I was able to negotiate this with. ---
**Author:** ![carddicted](https://leasehackr.b-cdn.net/letter_avatar/carddicted/32/5_5575768a8748004e209b776fc1b2916d.png) [@carddicted](https://forum.leasehackr.com/u/carddicted)\ **Post date:** [April 5, 2017, 12:07am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/2 "2017-04-05T00:07:15Z")
Define “low income” … ---
**Author:** ![vhooloo](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/vhooloo/32/3952_2.png) [@vhooloo](https://forum.leasehackr.com/u/vhooloo)\ **Post date:** [April 5, 2017, 12:14am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/3 "2017-04-05T00:14:06Z")
A low income person is one who can drive a BMW for free with other people’s money lol 🙂 ---
**Author:** ![willwar14](https://leasehackr.b-cdn.net/letter_avatar/willwar14/32/5_5575768a8748004e209b776fc1b2916d.png) [@willwar14](https://forum.leasehackr.com/u/willwar14)\ **Post date:** [April 5, 2017, 12:15am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/4 "2017-04-05T00:15:56Z")
“Consumers with household incomes less than or equal to 300 percent of the federal poverty level are eligible for an increased rebate amount. Increased rebate amounts are available for fuel-cell electric vehicles, battery electric vehicles, and plug-in hybrid vehicles. Please note that the increased rebate has been adjusted to $2,000 per rebate for vehicles purchased or leased on or after November 1, 2016.” > **[FPL-chart.pdf](https://www.coveredca.com/PDFs/FPL-chart.pdf)** > > 104.34 KB ---
**Author:** ![joelwang](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/joelwang/32/159964_2.png) [@joelwang](https://forum.leasehackr.com/u/joelwang)\ **Post date:** [April 5, 2017, 12:32am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/5 "2017-04-05T00:32:30Z")
> [@willwar14](#): > > $7,500 Federal Tax Credit I don’t think you can get $7,500 Federal Tax Credit. this is only for purchase no lease. Lease, you already got lease incentives. ---
**Author:** ![willwar14](https://leasehackr.b-cdn.net/letter_avatar/willwar14/32/5_5575768a8748004e209b776fc1b2916d.png) [@willwar14](https://forum.leasehackr.com/u/willwar14)\ **Post date:** [April 5, 2017, 12:35am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/6 "2017-04-05T00:35:27Z")
No you don’t, BMW FS gets it and passes it on to you in the form of lease cash. ---
**Author:** ![Jon](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/jon/32/70934_2.png) [@Jon](https://forum.leasehackr.com/u/Jon)\ **Post date:** [April 5, 2017, 12:37am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/7 "2017-04-05T00:37:05Z")
BMW passes the $7500 credit as an incentive to the leasee. ---
**Author:** ![Masterblaster](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/masterblaster/32/2613_2.png) [@Masterblaster](https://forum.leasehackr.com/u/Masterblaster)\ **Post date:** [April 5, 2017, 12:37am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/8 "2017-04-05T00:37:25Z")
> [@willwar14](#): > > No you don’t, BMW FS gets it and passes it on to you in the form of lease cash In that case then either the selling price or the Cap cost should come down by ~$7500. It should all wash out into a monthly lease cost like the OP posted. ---
**Author:** ![willwar14](https://leasehackr.b-cdn.net/letter_avatar/willwar14/32/5_5575768a8748004e209b776fc1b2916d.png) [@willwar14](https://forum.leasehackr.com/u/willwar14)\ **Post date:** [April 5, 2017, 12:38am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/9 "2017-04-05T00:38:40Z")
I already included it in the main post. I also edited it to say Lease Credit. ---
**Author:** ![StuckinLodi](https://leasehackr.b-cdn.net/letter_avatar/stuckinlodi/32/5_5575768a8748004e209b776fc1b2916d.png) [@StuckinLodi](https://forum.leasehackr.com/u/StuckinLodi)\ **Post date:** [April 5, 2017, 12:59am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/10 "2017-04-05T00:59:09Z")
Wow, I even qualify for the $3k San Joaquin Valley credit! I think I’m over the low income threshold tho. Anyone know of NorCal dealers who will work this deal? ---
**Author:** ![nohat](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/nohat/32/101619_2.png) [@nohat](https://forum.leasehackr.com/u/nohat)\ **Post date:** [April 5, 2017, 1:13am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/11 "2017-04-05T01:13:31Z")
> **[Eligibility & Requirements | Clean Vehicle Rebate Project](https://cleanvehiclerebate.org/en/eligibility-guidelines#income-eligibility)** > > Are you eligible for a CVRP rebate? Find out here. You can also learn about the rebate limit, application requirements, the CVRP ownership requirement and vehicle eligibility. > November 1 2016 – Present > $150,000 for single filers > $204,000 for head-of-household filers > $300,000 for joint filers > For the purposes of CVRP, gross annual income is determined by the amount reported on the applicant’s federal tax return: ---
**Author:** ![Ursus](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/ursus/32/4944_2.png) [@Ursus](https://forum.leasehackr.com/u/Ursus)\ **Post date:** [April 5, 2017, 1:17am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/12 "2017-04-05T01:17:57Z")
> [@willwar14](#): > > Consumers with household incomes less than or equal to 300 percent of the federal poverty level are eligible …to drive a $45,000 BMW. ---
**Author:** ![willwar14](https://leasehackr.b-cdn.net/letter_avatar/willwar14/32/5_5575768a8748004e209b776fc1b2916d.png) [@willwar14](https://forum.leasehackr.com/u/willwar14)\ **Post date:** [April 5, 2017, 1:58am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/13 "2017-04-05T01:58:01Z")
Why don’t you contact a few local dealers? Even without the low income CVRP, you would get $2,500 CVRP and $3,000 from the SJV rebate, effectively making the lease $70 a month (in theory). ---
**Author:** ![chrisgo](https://leasehackr.b-cdn.net/letter_avatar/chrisgo/32/5_5575768a8748004e209b776fc1b2916d.png) [@chrisgo](https://forum.leasehackr.com/u/chrisgo)\ **Post date:** [April 5, 2017, 2:02am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/14 "2017-04-05T02:02:54Z")
So who is going to get a bunch of these $0/mo leases and flip them every 2-3 days 🙂 ---
**Author:** ![Jon](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/jon/32/70934_2.png) [@Jon](https://forum.leasehackr.com/u/Jon)\ **Post date:** [April 5, 2017, 2:40am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/15 "2017-04-05T02:40:42Z")
I think the CVRP income limit is dumb. Isn’t the whole point to encourage cleaner vehicles, not just cleaner vehicles for the lower income? Everyone should be allowed the rebate. I’m not talking exclusively about the extra $2k rebate, I’m talking about the original $2500. There should be no income limit at all. ---
**Author:** ![Electrifi38](https://leasehackr.b-cdn.net/letter_avatar/electrifi38/32/5_5575768a8748004e209b776fc1b2916d.png) [@Electrifi38](https://forum.leasehackr.com/u/Electrifi38)\ **Post date:** [April 5, 2017, 2:46am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/16 "2017-04-05T02:46:44Z")
If a tree falls in a forest and no one is there to see it, did the tree really fall? If there’s a low income incentive that no one wants to take advantage of, was that incentive really given? Plus, is this hypothetical based on a base car that doesn’t include reverse camera? With that said, gosh I’d prefer a pro EV state like CA!!! ---
**Author:** ![willwar14](https://leasehackr.b-cdn.net/letter_avatar/willwar14/32/5_5575768a8748004e209b776fc1b2916d.png) [@willwar14](https://forum.leasehackr.com/u/willwar14)\ **Post date:** [April 5, 2017, 3:09am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/17 "2017-04-05T03:09:16Z")
I based this off one that has the parking package (so yes, it has a backup camera). And this isn’t really hypothetical as I’ve had two dealers willing to do this deal. ---
**Author:** ![M.ALEXANDRE](https://leasehackr.b-cdn.net/letter_avatar/m.alexandre/32/5_5575768a8748004e209b776fc1b2916d.png) [@M.ALEXANDRE](https://forum.leasehackr.com/u/M.ALEXANDRE)\ **Post date:** [April 5, 2017, 4:17am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/18 "2017-04-05T04:17:17Z")
Any able to get this deal in NorCal? ---
**Author:** ![Electrifi38](https://leasehackr.b-cdn.net/letter_avatar/electrifi38/32/5_5575768a8748004e209b776fc1b2916d.png) [@Electrifi38](https://forum.leasehackr.com/u/Electrifi38)\ **Post date:** [April 5, 2017, 5:04am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/19 "2017-04-05T05:04:47Z")
I was thinking of a REx not the battery only alternative. Good luck - Hope you can make it happen. ---
**Author:** ![willwar14](https://leasehackr.b-cdn.net/letter_avatar/willwar14/32/5_5575768a8748004e209b776fc1b2916d.png) [@willwar14](https://forum.leasehackr.com/u/willwar14)\ **Post date:** [April 5, 2017, 6:32am UTC](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153/21 "2017-04-05T06:32:56Z")
PM me. 20 charsss… [Next page](https://forum.leasehackr.com/t/lease-a-bmw-i3-as-low-as-125-a-month-0-drive-off-yes-really-updated-for-may/11153.md?page=2)