Current Offer - is it any good - tempting for the $199/month

[DinosM]

Looking for a small car for my son and I am tempted with the $199 per month payment. Is this deal any good?

Thanks

Lease financing available on new 2016 BMW i3 Range Extender from participating BMW centers on leases assigned to BMW Financial Services through August 31, 2016. Monthly lease payments of $199.00 for 36 months based on MSRP of $47,245.00. $3,624.00 cash due at signing is based on $2,500.00 down payment, $199.00 first month payment, $925.00 acquisition fee, and $.00 security deposit (not all customers will qualify for security deposit waiver). Tax, title, license, registration and dealer fees are additional fees due at signing. Program available from participating BMW dealers to eligible, qualified customers with excellent credit history who meet BMW Financial Services credit requirements. Payments do not include applicable taxes. All figures presented are examples only. Actual MSRP may vary. Lessee responsible for insurance during the lease term and any excess wear and tear as defined in the lease contract, $0.25/mile over 10,000 miles per year and a disposition fee of $350 at lease end. Purchase option at lease end (excluding tax, title, and other government fees) is $30,709.00.

 

[michaelbmw]

I wouldn't think of this as $199. Add in the cash up front and the disposition, more like $300/month. Decide based on that.

 

[gt1]

This offer is based on MSRP, dealer should offer additional discounts. Does you state have any EV incentives?

 

[johnnylingo]

They're not even including taxes and fees in the due at signing amount, so you'd probably have a drive-off over $4k.

Not a horrible deal, but agree this is realistically over $300/month average when all down payment, taxes, and fees are factored. In California you typically see 10% off MSRP but may be a different story in Ohio where inventory is lower and they don't have an incentive to get them on the road.

If you're looking for a small EV to hit that price point I'd definitely recommend looking at a Focus or e-Golf SE. I just leased the former for $1500 down + $50/month. Puts me under $200 average with everything factored in.

 

[davidzi3]

I leased my 2015 i3rex in february for $275/mo with 0 down and 12,000 miles per year in WPB, FL. I think they were liquidating the 2105 inventory. MSRP was 50k and agreed price was 40k (I didnt have to haggle just went to test drive an x5 and told the guy there is no way i'm paying over $600/mo for a car). It would have been $260/mo if I had better credit. So i think the deal you found is probably decent as long as they dont hit you up for the upgraded features (which looks like they will based on MSRP). Also, they factored in the $7,500 tax credit as a downpayment, which is why the price is so low. A freidn of a friend tried to get their local BMW to match my deal and they gave a flat out no.

 

[jvmoore1]

this the quote i was given for a 2016 Rex if it helps for reference. of course this is in the SouthEast.

 

[BMWAUS]

this the quote i was given for a 2016 Rex if it helps for reference. of course this is in the SouthEast.

Just ordered my 2016 Rex with (Tera, PA pkg, T&D pkg), MSRP $53,245 , won't beat the CA price, but for Texas resident, it's good enough.
Monthly payment $353, 0 down, 30 mo / 10k, TX sales tax included.

 

[tchoupz]

hey guys,

I'm also looking at this offer, currently located in South Florida.

I was wondering a couple things:
1. If the 2017 model comes out soon, should we expect some sales on the '16s? I was told at dealer that 2017 could be coming next month? Debating whether to wait or get on this "deal?"
2. What would you consider a good deal for South Florida? I keep seeing some insanely low monthly cost when based in CA but what about FL? If under $250 a month realistic?
3. I've seen at a dealer a "flexpay one pay lease special" at $8267 but can't get more info only (Braman SoFlo). I know there are some downsides to one pay but $8,267 with the tax credit that would be almost given away or am i missing something?
4. Last but not least: do you think that tax credit on the i3 will still be available if I defer the purchase by a month or so?

thank you!

 

[davidzi3]

1. Braman i think only had 2015 i3s. Not sure if they got 2016's in.
2. Under $350 (total cost off lease, not just monthly payment). I paid $275/mo (nothing down) in february but they wrote down cost by 10k and residual seemed way too high, especially with larger battery coming out.
3. dont know about flexpay, but they probably already include the tax credit in the math.
4. tax credit should be available for a few more years. BMW gets the credit and counts it as downpayment in lease i did from Braman.

 

[tchoupz]

Thanks David. This is great info.

I'll go back and look at what Braman has (really thought it was 2016 but will check). Sounds like the credit handling is pretty straight forward with them. That's good news.

 

[engineear]

Got a 2015 Rex with all options. Sticker was $55300. They discounted the car $6500.(something the Phx. dealers didn't even offer) My trade...a 2001 325i that had 2 fender benders, 135k miles and a value of $2800. They gave me $5800 for it, they gave me more because the one they were "holding" for me was sold before I got there, a 1 1/2 hour drive to Tuscon. Minus the $7500 rebate. All told I'm paying $249 per month...nothing down. 30 months and 25000 miles is perfect for what I need. I'll be well under the miles and have zero worries about breaking down. No more wrenching for me. I put on light jazz to and from work, am totally relaxed after the 25 minute, 16 mile drive and plug in just about every other night. Who knows what will be after 30 months. Depending on the deals then, I either get a newer one with the larger battery or perhaps they'll have a 200+ version or a deal on a used I8!!? Time will tell but for now all is well.
The one I wanted was a base model and would have put me around $189-$199. With this maxed out model the little more per month is worth it.

I'd suggest, depending on how far you travel per day, wait for the 2017. BMW will more than likely discount the 2016's left...like they did the 2015's.

DYODD...I looked for months before I found what I liked. Don't let them know you love it. Don't be afraid to walk.

 

[tchoupz]

Thanks! Will follow up with them again.

Stupid question but how do you go with asking for a discount on MSRP? I know they can probably work with me but should I go low say $10k low? or even more and see what they counter?

I definitely don't travel far. My commute is 8 miles of highway each way lucky me.

Also, how to do you go with nothing down? Every calculation sheet I've seen has some kind of cash payment (dealer fees, taxes, etc.).

Am absolutely comfortable with $250 a month. That would be fantastic.

Thank you!

 

[johnnylingo]

All told I'm paying $249 per month...nothing down. 30 months and 25000 miles

Great deal. Congrats! Here in the Bay Area the 2015s are gone and even the 2016s are getting in low supply. I'm hoping for a close-out deal on a 2016 next month hitting those numbers but am not optimistic.

 

[engineear]

Also, how to do you go with nothing down?

I suppose they used my trade for that. I don't know. We went over the numbers and they said.."$249".

 

[gt1]

Educate yourself on the components of the lease cost. Once you figure them out, you can evaluate the quality of the offer and balance the downpayment and monthly payments as you desire. And don't forget about the MSDs! In my experience dealers never offered to use them in order to reduce the payments.
This topic was very enlightening http://www.bimmerfest.com/forums/showthread.php?t=895712
A member of this forum created a very useful calculator. I wish I could give him a credit, but I can't find the topic. I have a copy of the calculator https://drive.google.com/open?id=1M6N_J-soVxhMVNPfln43xZbw9mzU14q0S-F739giz4c Copy it to your Google Drive to edit.
Some states, including mine collect the sales tax on the purchase price rather than on the payments. I modified the calculator to accommodate it.
https://drive.google.com/open?id=1E3WGd5NOqrzVb3QH-rA2-5ggj6g3q5eMYJmksQ4oUBg
This second link is what I paid for my car. Keep in mind, it was a 2015 bought two months ago, hence the discount off MSRP. I also had additional discount and MF reduction through my employer's purchasing program. MF and the residual change on the monthly basis.