$299 a month....

[Alexander99]

We're finally there.

With the $2,000 rebate and a $3,000 discount from MSRP (two Bay Area dealers) for 36 months and with a $3,500 cap reduction the i3 with a sticker of $44k can be leased for under $300 a month with just a $1,000 cap reduction.

There are LOTS of cars on the lots here in the SF Bay Area. Most dealers have 20+.

MSRP 43,900
Res 23,267 / 53% for 10k miles
Discount 3,000, BMW Rebate 2,000, Federal rebate 4,875
Cap Red 3,500 (and if you're in CA you get $2,500 from the state), so here only $1,000.
Bank fee 900 for a total Cap amount of 31,425

Depreciation 8,158, per mo $227. Rent / MF $71. Total payment $298 for 36 mo.

Great time to go shopping.....

 

[Surge]

Sorry, how are you defining "cap reduction"?

It would be much clearer if you just posted the interest rate.

 

[Alexander99]

Cap reduction is an amount paid up front to reduce the monthly lease payment.

Interest rate is 2400 times the money factor (MF).

 

[uter]

Sorry, how are you defining "cap reduction"?

He's saying $3500 down. Bear in mind, cap reduction on a lease is money that is gone if the car is damaged/stolen/totaled, as gap insurance only covers the remaining due on the lease.

I think the better way of considering this is that as BMW is eager to move the BEV's on dealer lots, the OP feels that buyers can get:
$3000 off MSRP on BEV
$2000 "BMW innovation credit" announced recently
$7500 federal tax credit, if you qualify.
$2500 to CA residents
Increased residuals, max 53% for 10k mile leases (which is roughly similar to other BMW leases)

I agree, it'd be helpful to see the MF

Still, these are better deals than were originally offered.

 

[nsps]

Sorry, how are you defining "cap reduction"?

He's saying $3500 down. Bear in mind, cap reduction on a lease is money that is gone if the car is damaged/stolen/totaled, as gap insurance only covers the remaining due on the lease.

I think the better way of considering this is that as BMW is eager to move the BEV's on dealer lots, the OP feels that buyers can get:
$3000 off MSRP on BEV
$2000 "BMW innovation credit" announced recently
$7500 federal tax credit, if you qualify.
$2500 to CA residents
Increased residuals, max 53% for 10k mile leases (which is roughly similar to other BMW leases)

I agree, it'd be helpful to see the MF

Still, these are better deals than were originally offered.

I believe we're looking at a straight-up lease rather than an Owner's Choice deal, as it says "Federal rebate 4,875," which is the credit BMW gives based on taxes and whatever else they skim off it. So if you can get the 3,000 discount and $2,000 BMW Rebate with OC, you'd could be looking at a better deal. However, that $2,000 (which along with the $4875 would also be part of the total cap reduction) may only be on the table for leases. Even without the $2,000, you'd theoretically still pay $700 less if you received the full $7500 federal rebate, assuming MF, etc. to be equal.

Based on the numbers, I think the money factor would be around .00125, which is the equivalent of 3% APR.

(This is my first post. I'm exploring my options for when my i-MiEV lease ends in February.)

 

[Alexander99]

Naps, correct. This is a traditional lease with the top tier (best credit) money factor of .00125.

 

[sonic]

If you can, do it with the maximum (7) multiple security deposits to reduce the MF even more.

 

[Alexander99]

I didn't quite manage to get to my target of $299 a month because I picked up a fully loaded car (vs. just giga and heated seats) on Sunday.

She is Capparis white with 20s, Giga, Tech, Parking, HK system, DCFC and heated seats. Sticker $50,600. Payment $325 plus tax with $1600 cap reduction.

Love the car. Dynamic cruise needs to be experienced to believe, it's awesome.