Did BMW drop MF to zero on 24 mo lease for March?

[czarmar]

So, I've been on the fence with the i3. I've been mostly looking at purchase to take advantage of the substantial credits, but according to my math, BMW isn't charging interest on a 24 month lease.

Based on their figures with a 63% residual:

44000 MSRP
-500 Innovations
-4875 Lease credit
-3000 down
35625 Financed
-27720 Residual
7905 Total Principle paid on lease
/ 24
329.38 /mo.

They are advertising 329/mo. payments. Where's the interest?

 

[ryandesign]

What about tax?

 

[Zony]

As I am coming off-lease from our LEAF in a couple of months, and we're moving to all BEV (I love my wife for being daring), I'm in uber-research mode for leasing and I'm looking at them all... well, except Tesla sigh... So here is what I see from your numbers all within a WAG and more or less - FYI, what is the actual selling price? (I'll guess below):

MSRP 44100 (from options I see for a BEV)
24/10000 residual 63% = 27720
MF .00125 (3%)
TAX - using my rate at 8.25%
Total Payments - 7800
Monthly Payment - 325
Selling Price - roughly 39k - so about 11% off - I'll bet you could get them down another 3-4% given the build of the car

I doubt that BMW is discounting the MF - more than likely there are incentives for certain vehicles (the VIN can tell you how long it's been there) or the dealer just needs to move a "mudder" (as in stick in the mud) that they feel no one wants.

All this again is guesswork on my part, and I could be as wrong as all get out Looking forward to see where you go...
Have fun with it-

Z

 

[czarmar]

Taxes are excluded from this calculation, as well as any negotiation or dealer discount. Obviously, taxes are paid on a lease, but I'm talking about BMW's base calculation here:

http://www.bmwusa.com/standard/content/Vehicles/2015/i3/bmwi3/OfferDetail.aspx?NAModelCode=14IA&OfferType=2&regiontypeid=1

Normally I'd expect the monthly payments to be greater than the initial cost of the lease (cap cost - residual) due to interest, but in this scenario, they exactly equal the cost of the lease.

Here's an example of MF != 0 for a 2015 X3:

http://www.bmwusa.com/standard/content/Vehicles/2015/X3/xDrive28i/OfferDetail.aspx?NAModelCode=15XD&OfferType=1&regiontypeid=1

44000 X3 MSRP
-25752 Residual @ 58.5% 36 months
-3000 down payment
15248 depreciation
/ 36
423.56 average depreciation paid per month

479/mo BMW advertised lease rate
-423.56
55.44 average interest paid i.e. MF

But the current i3 promotions doesn't have that extra interest.


I do see that BMW is offering .9% financing right now, and perhaps they just decided they'd forgo interest on the i3 leases save the acquisition fee.