I am in the market to lease an i3 REX; however, I came across the So Cal Edison deal of $10k off a new i3. I understand that it’s for purchase only and I do qualify for it.
If I take advantage of that discount and the $7,500 Federal tax credit, then sell the car a year later…wouldn’t I be driving the car for almost for free? I guess the question is whether the i3 will depreciate by over $17,500 in a year?
NO, resale is horrendous. Look on auto trader at used examples.
Even after 10 to 12 months?
I think the problem is the sales tax / doc fees etc… It all adds up. In NJ we have the same rebate offer with no sales tax and I still would not consider over leasing. Some cars are just meant to be leased.
This might help give you idea of resale value
Ok, that wouldn’t work then. Because I would have to resell at at around $30k, at least. This is assuming I can get one for $35k OTD (including So Cal $10k).
I am in the lease market and either dealers are still stingy on their remaining 2017s and the 2018s don’t make sense right now.
Buying though would give some flexibility on the miles.
True, it is just that the initial depreciation is terrible. below are wholesale transactions on 2016’s
Date Sale price ODO Seller Location
|1/17/18|$25,000* |88| 5.0|EL/A|- -|Factory|Northeast|New Jersey|
|1/17/18|$18,500 |19,0424.0|EL/A|White|Regular|West Coast|California|
|1/9/18|$20,300 |8,190|4.8|EL/- -|- -|Lease|Southeast|Atlanta|
|11/22/17|$20,250* |1,659|4.5|EL/A|Gray|Factory|Northeast|New Jersey|
|11/1/17|$24,500 |726|- -|EL/A|- -|Factory|Northeast|New Jersey|
|11/1/17|$24,750 |359|- -|EL/A|- -|Factory|Northeast|New Jersey|
wow, that’s pretty bad. I would be taking some risk because of the potential horrible resale value. Looks like the hedge is not a good one. Thanks. Back to the drawing board on finding a lease.