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i3 lease: advice please

Discussion in 'Buy, Lease, Finance & Insurance' started by BarryJI, Sep 17, 2016.

    • Member

    BarryJI

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    Hi gents, I'm hoping I can help a buddy out here. He is contemplating leasing a new i3 which, according to dealer sites, can be had for $300 per month over a three-year term. I financed my 2016 228i M Sport and know relatively little about leasing; I don't know enough about the effect of things like the money factor or the residual (although I know this can trip people up at the end of the term). As I said, rates quoted online are $300 pm and a residual value of $28K. MSRP appears to be $42K - $47K depending on equipment, such as a range extender kit.

    Since I don't know much about leasing and even less about electric cars (and whatever buyer incentives might exist for them in CA), can anyone advise my friend how to approach this transaction? It would be very valuable to him to get unbiased advice from knowledgeable people here rather than rely on dealer personnel. Thanks!
    • Member

    MGarrison

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    Wish I had some experience with leasing so as to be of some help - all I can suggest is googling up writeups on leasing advantages and disadvantages. If mainstream auto mags have any articles, those might have some degree of credibility.
    • Member

    mattm

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    Bridgeport BMW sent me an email today offering a lease on a i3REX for $199 a month with an MSRP of $36,985.
    But looking at their web site they are only showing 2017 models.











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    • Member

    enekaken

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    So for electric car leasing, you get a $7500 federal credit that will act as a capitalized cost reduction, AKA "down payment" In CA this amount IS TAXED,

    So when signing the papers, you will need to pay $750 tax + ~$400 registration+ $925 Acquisition fee+first months payment. These are essentially the "non-negotiable" stuffs.

    What you do negotiate, is the selling price, and what your selling price is, will determine your monthly bill as you will be paying the difference between the selling price and residual (which is also set) I'm not sure what the current delas are, but you should be able to get ~10% off MSRP BEFORE ANY incentives with the 2017s

    You'll also need to check BMW's own website to see what incentives are currently available. Usually you'll get $1k-$2k lease credit or something like that. These do not need to be disclosed on the sales contract, while the $7500 one will.

    Easiest way is to compare the total lease cost. your monthly payment*#months in lease term= $x amount.
    My current lease for my 2015 i3 is $236*30months=$7k. This is excluding all taxes and fees I mentioned earlier

    In CA, you can get a $2500 check for lease at or over 30 months (it will be 36months min required starting Nov 1st and the income cap is being lowered as well)

    Here are some great resources

    http://leasehackr.com/blog/2015/11/...a-bmw-i3-for-about-100month-0-down-yes-really

    http://www.bimmerfest.com/forums/showthread.php?t=895604

    Right now, leasing EV's are a complete steal due to the inflated residuals and the constant improving of the tech.

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