2014 REX Lease in Bay Area, CA

[steveg]

How does this compare to other recent deals in California?

One thing it has that I like is it's 36 months and not 24, so you pick up the state rebates of $2500 and if you live in the Central Valley, another $3000.

Lease Details:

$267 per month
36 Months

10K Miles per Year


Only $5,500 Down + Drive off

Includes BMW Lease Credit of $5,500

On Approval of Credit through BMW Financial Services

Type: New
MSRP: $54,250
Sale Price: $49,000


Giga World
Technology Package
Navigation Professional
Sport 20" Alloy Wheels
Parking Assistant Package
LED Headlights
Heated Seats

Park Distant Control

ACC Stop & Go + Active Driving Assistant
Rear View Camera

Parking Assistant

Bluetooth Wireless Technology

Comfort Access
Satellite Radio

DC Fast Charge

 

[steveg]

Forgot to mention this is an ad I saw on craigslist for Sonnen BMW.

 

[nodomo]

That seems a little high. If you can find a car you like, the deals on 2014's have been pretty good the past month or so. You're only getting 10% off MSRP and people are getting 15-20% off MSRP before the $5500 rebate is applied.

30 month leases work best for CA folks and you qualify for the $2500 rebate. The residuals for 36 month leases fall off considerably so payments are higher.

 

[PDXelectric]

How does this compare to other recent deals in California?

One thing it has that I like is it's 36 months and not 24, so you pick up the state rebates of $2500 and if you live in the Central Valley, another $3000.

Lease Details:

$267 per month
36 Months

10K Miles per Year


Only $5,500 Down + Drive off

Includes BMW Lease Credit of $5,500

On Approval of Credit through BMW Financial Services

Type: New
MSRP: $54,250
Sale Price: $49,000


Giga World
Technology Package
Navigation Professional
Sport 20" Alloy Wheels
Parking Assistant Package
LED Headlights
Heated Seats

Park Distant Control

ACC Stop & Go + Active Driving Assistant
Rear View Camera

Parking Assistant

Bluetooth Wireless Technology

Comfort Access
Satellite Radio

DC Fast Charge

Hi,

I was trying to replicate the deal with a lease calculator and came up with some questions. What exactly are your drive off fees? Does this mean $5500 + acquisition fee + title +tax?? Do you have to pay sales tax up front with that monthly payment? I would make sure all of this is cleared up because it can make a big difference on your total payments.

With the local tax credits though, you are essentially getting a great monthly rate with "0" down your first year. I would ask them to take 1-2000 off the sales price and you would be getting a great deal on a near loaded REX.

Regarding your build, (if I had to choose), I would rather have the HK stereo over the 20" wheels. It is a really nice system. I had to search far and wide for a loaded REX without 20" wheels.

Good luck!

 

[scramboleer]

(I'm new here. Sorry if this should be a separate post.)

I've searching for a 2014 REX in Northern California with Giga or Tera trim, plus DC fast charging and the HK stereo. I found one that has that plus the Tech and Parking packages. MSRP is $53,200. The quote I got for a 24 month lease (10k annual miles) is $3500 down and $238/month. I estimate this would be about $5500 out-the-door and $260/month with tax. Is this good? Bad? Okay? Thanks in advance!

 

[nodomo]

(I'm new here. Sorry if this should be a separate post.)

I've searching for a 2014 REX in Northern California with Giga or Tera trim, plus DC fast charging and the HK stereo. I found one that has that plus the Tech and Parking packages. MSRP is $53,200. The quote I got for a 24 month lease (10k annual miles) is $3500 down and $238/month. I estimate this would be about $5500 out-the-door and $260/month with tax. Is this good? Bad? Okay? Thanks in advance!

That also seems high. You're paying a total of $11,740 over 2 years, or almost $500/month. Looks like you're in the Bay Area and for comparison, BMW SF was advertising one upfront payment of $7888 for 2 year lease for a '14 Giga REX.

 

[PDXelectric]

(I'm new here. Sorry if this should be a separate post.)

I've searching for a 2014 REX in Northern California with Giga or Tera trim, plus DC fast charging and the HK stereo. I found one that has that plus the Tech and Parking packages. MSRP is $53,200. The quote I got for a 24 month lease (10k annual miles) is $3500 down and $238/month. I estimate this would be about $5500 out-the-door and $260/month with tax. Is this good? Bad? Okay? Thanks in advance!

That also seems high. You're paying a total of $11,740 over 2 years, or almost $500/month. Looks like you're in the Bay Area and for comparison, BMW SF was advertising one upfront payment of $7888 for 2 year lease for a '14 Giga REX.

If you add the option packages of HK, Tech, and Parking, it is about the same deal. ($3900 difference between the two offers). I think you could do a little better, but not a terrible deal at all. I would still just focus on the sales price to determine if it is a good deal. You do want to pay attention to the acquisition fee, residual value, and MF but these should be fairly fixed.

 

[scramboleer]

If you add the option packages of HK, Tech, and Parking, it is about the same deal. ($3900 difference between the two offers). I think you could do a little better, but not a terrible deal at all. I would still just focus on the sales price to determine if it is a good deal. You do want to pay attention to the acquisition fee, residual value, and MF but these should be fairly fixed.

Thanks for all of the input. The money factor and residual are clear, but is the acquisition fee fixed or is it negotiable? When we leased our last BEV, the sales rep claimed that all of the fees were fixed. Didn't make sense to me, but we got a good deal so I moved on.

 

[nodomo]

(I'm new here. Sorry if this should be a separate post.)

I've searching for a 2014 REX in Northern California with Giga or Tera trim, plus DC fast charging and the HK stereo. I found one that has that plus the Tech and Parking packages. MSRP is $53,200. The quote I got for a 24 month lease (10k annual miles) is $3500 down and $238/month. I estimate this would be about $5500 out-the-door and $260/month with tax. Is this good? Bad? Okay? Thanks in advance!

That also seems high. You're paying a total of $11,740 over 2 years, or almost $500/month. Looks like you're in the Bay Area and for comparison, BMW SF was advertising one upfront payment of $7888 for 2 year lease for a '14 Giga REX.

If you add the option packages of HK, Tech, and Parking, it is about the same deal. ($3900 difference between the two offers). I think you could do a little better, but not a terrible deal at all. I would still just focus on the sales price to determine if it is a good deal. You do want to pay attention to the acquisition fee, residual value, and MF but these should be fairly fixed.

Technically, it's not the same deal. It's a lease so if you add $3900 worth of options, you should only pay for 24 month of usage on a 24 month lease. The 24 month residual is 63%, so that means you should only pay for 37% (1 - 0.63) of that $3900. The extra amount should only be $1443, not the full $3900.

dealers do mark up the lease acq fee so you should check that too.

 

[PDXelectric]

Technically, it's not the same deal. It's a lease so if you add $3900 worth of options, you should only pay for 24 month of usage on a 24 month lease. The 24 month residual is 63%, so that means you should only pay for 37% (1 - 0.63) of that $3900. The extra amount should only be $1443, not the full $3900.

dealers do mark up the lease acq fee so you should check that too.[/quote]

Agree with you. I was just saying it is not a terrible deal. The acquisition fee is from BMW financial and is usually not negotiable. I have not seen residual values move unless it is part of a promotion. Similarly, MF changes during promotions but right now I believe .00125 (3%) is the best rate available through BMW FS. The best practice is still to double check on these variables (MF, acquisition fee, & residual) to make sure they aren't pulling a fast one, but really focus on the sales price including rebates/incentives.

 

[MFNATIK]

Whatever you do, do not put money down on a lease. If you want to buy down the payment then put down the max 7 security deposits (each is equal to one months payment) which are refundable at the end of the lease. Once you understand how leases work you will never want to pay anything besides the drive offs and first months payment. BMW leases are the industry's best leases so learn more before you go into the dealer or else you will not be getting the best deal possible Also download the Leasematic app from the App Store and crunch your own numbers. Play with it and it will help you understand and see how certain numbers can be manipulated to pad profits, etc. With excellent credit, you should expect to get the buy rate for the money factor and residuals. The acquisition fee is also $795 so do not pay more than that. Doc fees in CA is $80 and should not be marked up.

 

[Zony]

Whatever you do, do not put money down on a lease. If you want to buy down the payment then put down the max 7 security deposits (each is equal to one months payment) which are refundable at the end of the lease. Once you understand how leases work you will never want to pay anything besides the drive offs and first months payment. BMW leases are the industry's best leases so learn more before you go into the dealer or else you will not be getting the best deal possible Also download the Leasematic app from the App Store and crunch your own numbers. Play with it and it will help you understand and see how certain numbers can be manipulated to pad profits, etc. With excellent credit, you should expect to get the buy rate for the money factor and residuals. The acquisition fee is also $795 so do not pay more than that. Doc fees in CA is $80 and should not be marked up.

+1... or if you are a spreadsheet wonk ... https://drive.google.com/open?id=1bRaln86BY6Aj9HOUcksziToLxz-YFrzPLrvPylpqALs&authuser=0

Got this several years ago from somewhere... so it's not mine... but it works great. PO'd a sales guy at BMW in the Bay area with it last week.

Z

 

[Bimmer96]

Sorry to hijack the post. Where is the best place or cheapest place to lease an I3 in the bay area?

Thanks

 

[coupedncal]

Sorry to hijack the post. Where is the best place or cheapest place to lease an I3 in the bay area?

Thanks

I bought mine from Fremont about three weeks ago and they were an absolute joy to deal with. Unlike Berkeley and Dublin, they were upfront and true to their word. And they offered the best deal as well.

 

[steveg]

Sorry to hijack the post. Where is the best place or cheapest place to lease an I3 in the bay area?

Thanks

I bought mine from Fremont about three weeks ago and they were an absolute joy to deal with. Unlike Berkeley and Dublin, they were upfront and true to their word. And they offered the best deal as well.

What I don't like about Weatherford BMW in Berkeley is their ads on their website. Each one (I think all of them) include the Recent Grad Discount ($1000 when I last checked) and many also include having a super great credit score.

So...how many people are both of those?

So...how many people, see the ad, miss that part of the fine print, go to Berkeley only to find out they don't fit the profile of this phantom person and the real price is noticeably higher?

It's just a poor way to do it.

 

[coupedncal]

Sorry to hijack the post. Where is the best place or cheapest place to lease an I3 in the bay area?

Thanks

I bought mine from Fremont about three weeks ago and they were an absolute joy to deal with. Unlike Berkeley and Dublin, they were upfront and true to their word. And they offered the best deal as well.

What I don't like about Weatherford BMW in Berkeley is their ads on their website. Each one (I think all of them) include the Recent Grad Discount ($1000 when I last checked) and many also include having a super great credit score.

So...how many people are both of those?

So...how many people, see the ad, miss that part of the fine print, go to Berkeley only to find out they don't fit the profile of this phantom person and the real price is noticeably higher?

It's just a poor way to do it.

Looks like we both had identical experiences. Yours look like a repeat of my visit to Weatherford.

 

[daboys2007]

Went to the Pleasanton Dealership this AM for the Mrs. to test drive an i3. She enjoyed it and so we started talking numbers on a 2015 Base REX, with an MSRP of 48k. For $0 down, the monthly on a 30 month lease was well over $650. Given that, we mentioned to the Sales Manager (Jake) that we missed out on the deals with 2014s. Then he said, "Well BMW is moving inventory from the South & East to the West Coast, so that 2014s can be sold." He stated that he was set to receive 7-2014s over the coming weeks.

Has anyone else heard anything similar to what this Sales Manager was saying?

 

[Sparky]

Yes, Stevenscreek has a pant load, and they mentioned they were getting lots more soon. I stopped by to see there new "i" facility.

 

[nodomo]

BMW just increased their 2015 incentives so it's now similar to 2014s. 2015s get $7500 BMW rebate while 2014s get $5500 BMW rebate and $2000 build out credit.

Base REX at $48k MSRP on a 30 month lease should be around $2500 down (net $0 after CA rebate) and $250-300/month depending on dealer discount.

 

[daboys2007]

Tracked down a 2014 White REX in Modesto and closed the deal today.

The figures were:

MSRP = $47,200
Selling = $38,700
Residual = $27,376
MF = .00125
Term for 30 months
$0 down (sign and drive)
Monthly Payment using our tax rate of 8.5% comes out to $375.90/mo.

I'm happy with this deal and thanks for the great info from this forum, which made this whole process easier!

Gotta start looking into a Level 2 Charger now!