Chicago Area i3 Tera World Questions

[Aescwine]

I was looking through dealers for i3 quotes and came upon this from a dealer (with costco auto discount):
i3 Rex + Andesite Silver Color + Parking assist + Tech package + Tera World + Harmon Kardon
Lease comes out to be 522/mo x36mo with 0 down (only the lease credit), finance/owner's choice ends up being $47 more or something with I think 4800 down.

The dealer said something about lease is a better option than owner's choice because with lease you get 7500 credit and with finance/owner's choice you only get 4800 (the finance guy at the dealership was pretty adamant about it not being 7500). He also had not heard of any Illinois rebate. (They also had trouble finding the 1000 incentive for september for the charger)

So the questions I have are:
Is this a good deal? The raw Invoice comes down to be around 47,000 or so before the federal/state rebates
If one uses owner's choice do they get the full 7500 rebate?
If one doesn't pay 7500 in income tax is the rebate still 7500 or is it just up to what the person paid?
Does Illinois still have the Green Fleet program for 4000? Does owner's choice apply for it?

Thanks,

 

[jhu321]

So a couple of things. Owners choice only makes sense if you can get the 7500. It means you have to have enough income to have a 7500 dollar federal tax liability to the government or assuming a typical income tax profile of 20 percent effective tax after all your deductibles. You need to have an income bracket in the upper 80k range. If you don't have atleast 7500 then you'll at most wipe clear your tax liability.

If you have atleast 7500 dollars in fed tax liability then you get the whole thing and owners choice is better. If you don't then lease is better since the lease company takes it. That being said. You need to run the numbers to see how they are handling sales tax and lease tax if you have a Chicago address

 

[jhu321]

And the governor defunded the green rebate so nothing left there.

 

[Aescwine]

And the governor defunded the green rebate so nothing left there.

Oh when did that happen? The BMW site still made it looks like there were state incentives. So in that case is that lease offer good? If not what should I as for?

 

[jhu321]

http://www.illinoisgreenfleets.org/rebates/


It was suspended in March I believe. It actually screwed over anyone who bought after last September.

Short of moving to California there's really nothing. The program isn't dead. It's just the governor defunded the program and stole the money to pay for other programs in the state. Technically this money was paid for by a special tax from your power bill which should be immune to this type of stuff... But Illinois politics right...