Signed on a 2018 BMW 530e Loaner with 3200 miles from BMW of San Antonio.
Owner’s choice lease.
MSRP: $56425. Selling Price: $45900
36month 12k miles
TTL down on signing
2k lease incentive
2k loyalty
1k for test drive
Monthly Payment: $384.10
Texas state tax credit: $2500
Federal tax credit: $4668
Monthly cost after tax credits: $184.99!
Technicallly, I don’t think you can apply for the federal EV rebate on a loaner if it’s listed as “used” on your contract.
Can the Fed rebate be applied if you buy from any state?
Wow, if this all works out that’s amazing. Congratulations!
BMWSA sells them as new, my loan contract also had new checked.
It was the inventory sheet that was wrong, my loan docs had “new”, which was what the TCEQ needed (my grant was approved last week).
Congrats. When dis you get this? I see that Texas rebate concluded in March 28th.
Got it on March 16, and i live in austin, so I just handed the application in person on March 18
TX you are seriously lucky here. You’re getting away with highway robbery.
The credit doesn’t apply to the individual in a lease.
TX has something called owners choice. Similar to lease but you can claim federal credit
This guy saw too many BMW 530e in Texas instead of F150s and decided to do something about it - all jokes aside it’s pretty funny how the OIL state residents are getting to take the ultimate advantage of EV rebates.
Congrats!! Keep it up Texas residents
Those tax credits are amazing. Hopefully the car has some options for that MSRP. But even if not, great price to pay for a 5-series!
As far as I know you won’t get federal tax credit on a lease car. You need to purchase.
@krish, in texas there is a program called Owners Choice, it works exactly like a lease but the car is titled under your name.
Bmw made this program for residents of Texas and Georgia because you pay full taxes on the sale price amount. This way if you decide to buy after your term is over, you dont have to pay taxes again.
good to know
How much was TTL…i.e. taxed at 6.25% of SP or less?
TTL was ~$3500, thats what I paid down. In texas Taxes are %6.25 on sale price after all discounts which came down to $40900
Taxes were $2556.25
plus first payment and all other fees
