Hi Anybody know about any deals on the 2017 BMW i3? I’m Looking for 36 mo with 15k miles. I leased an infinti Q50 and signed up for 10000 miles and it was pretty much the most horrible mistake, i should’ve got 15000, story short i have to pay for infiniti to return the car, i hit 30.000 miles and still have one year and a half… so I am looking to lease the BMW i3, for the numbers that you guys were talking about above, and thats what i got from a local dealer… please help
MSDs is dead.
CVRP rebate is on hold.
No AARP rebate & the fleet incentive it gave access to has cut the MF reduction and the incentive was cut down to $500.”
So effectively, MSDs saved around $1k, CVRP rebate I believe is still available if you are low income, but if not the regular rebate is gone, so another $2.5k, the MF reduction on the fleet is gone so another $1k, and the fleet incentive has gone down by $1k so effectively it’s gone up
So add all that up, non-low income people it’s $5,500 less in incentives, if you are low income it’s $3,000 less in incentives. I have seen some ads for $200 a month deals with 0 down, that’s likely not including tax and drive offs which adds another $20 a month to the monthly payment, and probably around a $2-3k drive off.
HI all, I managed to have never ever lease a vehicle and now find myself looking into i3 options. I have been reading up as much as I could on this forum, but some of the leasing terms are still beyond me, so please go easy on me
Here is what I am looking at:
2017 BMW i3 94 Ah w/Range Extender Sedan (I am not quite sure which package.)
RETAIL PRICE: $49,995
Sale Price: $45,240
Lease for only $129 month + tax $3013 down plus drive off for 24 months*
*Offer valid through 11/30/2017. All prices exclude government fees and taxes, any dealer document processing charge, any registration and electronic filing charge, 1st monthly payment, and acquisition fee of $925. 10,000 annual miles, $.25 per mile thereafter. Lease disposition fee $350. All leases must be approved through BMW Financial Services Super Elite credit… All Leases have $0 security deposit. Subject to prior sale. LEASE CREDIT OF $9500 INCLUDED
Via my employer (Passport program), there is a $500 discount. I assume this is off the down payment, but I have to figure this out.
I also know that I will not qualify for any other discounts. Student, Low Income CVRP, AARP
I think I can get $500 from PG&E, but I’ll have to double check that.
Questions:
BMW Corporate Fleet discount, how woud I check eligibility? I have see n this used in combination with “Money Factor”, but what the heck is that?
Multiple Security Deposits, I understand that this has been discontinued? I also have not been able to figure out what this is.
I am in NorCal/Bay Area and wonder if anyone knows of any good offers?
Thank you!
Rick
Advertised Features of the i3 mentioned above:
Navigation, Heated Seats, Satellite Radio, iPod/MP3 Input, Onboard Communications System, Aluminum Wheels, Keyless Start. i3 trim, Fluid Black non metallic exterior and Atelier European Dark Cloth interior. AND MORE!
See Trung’s comment. You’d want to get a 30 month lease and get in line for the California state refund as well. That would likely knock out any money down you put, making this a really good deal.
“1. BMW Corporate Fleet discount, how woud I check eligibility? I have see n this used in combination with “Money Factor”, but what the heck is that?”
Corporate fleet is offered based on your employer. You can ask your HR benefits folks or let any BMW dealer know your employer- they can look it up. If you don’t work for a large company you probably are out of luck on that front.
“2. Multiple Security Deposits, I understand that this has been discontinued? I also have not been able to figure out what this is.”
MSD’s are no longer offered. So don’t spend a lot of time thinking about them!
Money Factor is the effective interest on the capitalized cost of the lease. There is a base rate from BMW Financial and then dealers are allowed to mark that up. You want to lobby hard for the base rate (sorry, don’t know what it is this month but someone will be along to tell you).
As the other commenters suggested you do not want 24 month lease in CA. To get the state rebate you must have 30+ months on the lease.
As for the offer itself they are at roughly 9.5% off MSRP. Or looked at another way about $1,200 below invoice. I’d probably see if I could get a big more money off the car.
Also you don’t want to put any money down on the car itself (cap reduction). If you drive the off the lot and a bus hits you and totals the car that money is gone. Better to have a higher monthly payment. It is ok to pay tax, title and license up front. Since the BMW money factor is not sub 1% you are better off paying that cost rather than paying interest on it.
Note that not putting the $3,013 down they want effectively doubles the lease cost because that is equivalent to $126 a month more. So this is really a $255+tax a month lease.
Thank you Tirplits for you r very detailed response - much appreciated!
Sounds like this isn’t really a great deal then…
Corporate fleet is offered based on your employer. You can ask your HR benefits folks or let any BMW dealer know your employer- they can look it up. If you don’t work for a large company you probably are out of luck on that front.
Yes, my company is offering that. $7500 off a purchase and $500 off a lease, unfortunately not $1000 like other companies are offering.
Also you don’t want to put any money down on the car itself (cap reduction). If you drive the off the lot and a bus hits you and totals the car that money is gone. Better to have a higher monthly payment. It is ok to pay tax, title and license up front. Since the BMW money factor is not sub 1% you are better off paying that cost rather than paying interest on it.
Thank you, this tip is worth a lot. I’ll ask for a $0 down offer.
Last but not least, there is another potential $500 off joining bmwcca.org ($48/year), maybe this stacks up?
Unfortunately, you have to be a bmwcca member for 12 months at the time of the lease to get the $500 rebate on the i3. So if you are not a member now, you won’t be able to get it.
Money Factor is the effective interest on the capitalized cost of the lease. There is a base rate from BMW Financial and then dealers are allowed to mark that up. You want to lobby hard for the base rate (sorry, don’t know what it is this month but someone will be along to tell you).
Can this be looked up somewhere? I googled “BMW Financial Services +Money Factor”, but could only stumble across old rates.
So this is really a $255+tax a month lease.
Any guidance what a good monthly rate is for a 2017 i3 REX?
Go look at the Edmunds forums. They tend to have the latest MF info.
The lease rate is going to be variable- this is a car with a roughly $10,000 price spread depending on which options are on the car. That is why folks tend to talk about percentage off MSRP or discount below invoice.
If you were in southern CA I’d know a couple of people to talk to. Northern CA is another story. If you were willing to take a weekend to drive the car home up 101 let me know.
Go look at the Edmunds forums. They tend to have the latest MF info.
Thank you, seems to be .00152 and 61% / 58% / 55%
If you were in southern CA I’d know a couple of people to talk to. Northern CA is another story. If you were willing to take a weekend to drive the car home up 101 let me know.
Thank you, but I am not sure if I’d be willing to go down south unless it is too good of a deal to pass…
I have been playing with the calculator a bit but have been unable to find out where to add:
a) the $7500 Tax benefit which is passed on by BMW finance
b) where to add the fleet/group perk which I think is $500
