Good or Bad Deal in Socal

[steveheaven79]

Hello,
I am new to the forum and need Lease specialist help.
Just got an number on 2015 REX.
Msrp 53,545.00 - Giga, Tech Package, Rear view camera, 20' wheel
Price 47,164.72

MF = .00131
Res% 59%
Rebate $7500
Down pay $1000 - this is only amount I am paying
Monthly $430.01
Total 30 months cost is $13,900.30 before CA rebate. $11,400.30 after rebate.

30/mo
12k/yr

I can not tell if this is good or bad.

 

[freeewilly]

I leased an i3 Rex on Dec 28th at McKenna BMW.

Msrp: $41xxx
30 month / 10k per year
Total lease cost less than 7600 before CA rebate

 

[websterize]

Aim for 15%-20% off MSRP before incentives.

 

[steveheaven79]

I leased an i3 Rex on Dec 28th at McKenna BMW.

Msrp: $41xxx
30 month / 10k per year
Total lease cost less than 7600 before CA rebate

freeewilly
let me confirm this again. Total 30 months cost is 5k? how much did you downpay?

 

[eneka]

1. There's a "Happier Holiday" $2,000 incentive going on right now. If you don't know about it, the salesmen won't tell you about and will eat it. That means your actual selling price is $49k, about 9% off. I'd aim for 12-15% off MSRP. It should be easy to get another $2k off the selling price. I had the same MSRP and my selling price with incentives was $45960. I wouldn't consider it a great price but considering I had other stuff stacked on later, I was content.

2. You listed your residual at 59%, but at 12k miles/year, i'm pretty sure it's supposed to be 57%

3. "Down pay $1000 - this is only amount I am paying "
What do you mean "this is the only amount I am paying" Down payment is a capitalized cost reduction, it'll lower your monthly payments. but it's risky as the money will be "lost" if you were to get into an accident. I'd recommend doing 7 security deposits, which will in turn lower your MF down to .0008 thus reducing your monthly payments. FYI the security deposit is your monthly payment rounded up to the nearest $50 after the new MF is applied in. If you're at like $351 or something like that, ask them to lower it to $349 or so. You might need to put in a $20 down payment or so, but the computer will calculate everything for them.


4. What is your "Due at signing" or "Drive off"? That's the number you'll be paying when the dealer hands over the key to you. It'll include taxes, tax on the $7500, first months payment, $925 acquisition fee, registration & licence (~$450) and security deposit.

I wouldn't say your lease is a bad deal, just average, you can definitely do better. Do you happen to meet any of the targeted incentives like college grad?

Where are you in Socal? If you're in LA, I would highly highly recommend Greg Poland from Pacific BMW. Just shoot him and email and you can do everything over email. I bought my i3 from him and was in and out of the dealer within 30 mins. He's rather well known on bimmerfest.com as well. Here's what I got for my lease. But I have a couple of targeted incentives stacked on so you'll need to account for that. It should be about $70 more per month without the targeted incentives.


Last but not least, take a good read at this http://f80.bimmerpost.com/forums/showthread.php?t=1084623

I'd highly recommend reading up and fully understanding how the lease works which will help you immensely when the dealers start throwing numbers with everything mashed together and hidden.

 

[freeewilly]

Drive off $3250 including 1750 security deposit.
BMW gives some vehicles special discount, so not all the i3 will get this extreme price.

 

[spitfire]

Hello,
I am new to the forum and need Lease specialist help.
Just got an number on 2015 REX.
Msrp 53,545.00 - Giga, Tech Package, Rear view camera, 20' wheel
Price 47,164.72

MF = .00131
Res% 59%
Rebate $7500
Down pay $1000 - this is only amount I am paying
Monthly $430.01
Total 30 months cost is $13,900.30 before CA rebate. $11,400.30 after rebate.

30/mo
12k/yr

I can not tell if this is good or bad.

I'd recommend going to Edmunds.com and using the new car service on there. Some dealers are offering $8000 off the MSRP, guaranteed through that site, no negotiation required. In the end, I was able to get a $55k REX this month with ~$9500 off which included a $1000 special incentive (corp fleet discount) that not everyone qualifies for (I qualify due to my employer being a BMW partner). That said, other dealers were not as easy to deal with. One offered me only $7500 off for the exact same spec car... and was aware of my better offer. So some dealers are definitely more aggressive than others. Note that these prices are before the $7500 lease credit.

I notice the dealers were all pretty consistent on the other aspects of the deal. Nobody seemed to try to push a MF higher than .00131 for example. Nor was any dealer really out of line with others when it came to extra upfront fees. So if you can focus on the selling price you should be able to get the rest of the deal to more-or-less fall in line.

Something I did notice after negotiating with 4 dealers, was that none of them ever mentioned the $2000 Holiday Adder in the documentation. In other words, it was never an explicit line item, and the selling price always included whatever discounts applied.

One other factor in the market which I think affects prices of certain cars over others is the concept of a 'punched' car. Do a google search on 'punched BMW', but here is a quick link: http://www.autoblog.com/2012/08/15/how-bmw-gamed-its-dealership-system-to-sell-more-cars/. When a new car arrives on the dealer lot, the dealer generally does not own it, BMW does. The dealer works more like a consignment business in that regard. So when the factory wants to reduce the inventory on their books, they offer the dealer an attractive incentive to buy the car from BMW. Nothing wrong/different about such a car. Financially, the dealer's profit margin is based on whatever that incentive was they day the dealer bought the car from BMW, so the current factory incentives are probably irrelevant. Also, certain special incentives (like the Corp. Fleet discount I mentioned) cannot apply to them. With the i3 being a very slow seller, I'd suspect the number of punched cars on lots is high. And I would think this has a favorable (for the consumer) effect on discounting.

 

[16hrDay]

Looking at a lease. I'm close to pulling the trigger. Similar 2015 were about 538/ mo similar down. I figure better get the 16.

54,495 price. 2016 Rex
Residual value 50%
Residual value 27,297
Capitalized cost 49,315
Adjusted capitalization 42,226
36 months
Money factor .00152
Cash down 2,347.02
Rebates 7500
Total adjusted cap 925
Total sales tax 2,414.19
Total monthly $567.21

Does this seem reasonable?

 

[sako]

Just at quick glance, youre getting hit really hard on residual.

30 mos lease - residual is 59% for 2015s or used to be
36 mos its down to 50%?

Killer

I think you prob could work a better deal for 2015s, I think theyre trying to get rid of them. I just picked mine up for 15% off msrp 54895 down to 46600~, add on 7500 tax credit and 2500 CA credit its really good deal.

 

[16hrDay]

I know I should be looking at a 2015. The price I got was not that much lower, but maybe I need to call someone else. Also the Fluid Black is calling my name.....Sako what are you paying per month on your 2015?

 

[eneka]

Don't put money down, put it toward 7 MSDs. If you're looking for 2015 models, aim for min 10% off MSRP before any incentives. There's a $2k build out on top of the $7500 lease credit.


Take a read of my post earlier. Most of it still pertains to the '15 model.

 

[eye3]

Not as good as last month as stock has stabilized (I was being offered a good $2k better in jan but i waited too long).

Anyway my i3 was $53,795 and I paid $36,900

I love it so much I may get a second for the mrs

 

[sako]

16hrday

If you like fluid black then 2016 is your calling. I have no idea if they are giving good deals on those right now, I would guess closer to 2017 release will be the time to strike for 2016s since the bigger battery will be there.

I thought about it but didn't do MSDs, with 17xx drive off, $330 month 30 mos lease 10k miles.

Also, I will get 2500 CA rebate (application pending)
I think if I did max MSDs it would be prob be in the 200s for payment, but I didn't want to hand over that money at the time.

If there are 2015s out there, I would look for aggressive deals, they are out there - Don't take their first offer!
You may have to be flexible with color and options though. I really wanted Tera, but only Gigas out there that I found, but I got used to it.

 

[16hrDay]

this is tempting me now.


2016 Fluid Black, Tera, Technology and Drivers assistance, harmon/kardon, parking assistance and 20" wheels.
$55,895
discounted 10.5% to50,040
BMW continues to give back the federal rebate $7,500
total discounted price $42,540
Residual is 50%
MF .00152
36 months / 15,000 miles per year
LA county tax 9%
$2,500 total due at signing.
Monthly payment is $495 plus tax which is $539.55

 

[sako]

After all the numbers are said and done - bottom line is as long as you are happy with the car!

Good luck

I think with that 50% residual it will be very difficult to get number down to 2015 deals. Comparing your last offer to this one, its about $1000 difference.

Youll get 2500 rebate from CA too - plus if you make a lot money you may not qualify for that next month.

Add gas savings you'll be making money soon!!!

I am loving my i3 so far - its fun to see cars burn past me only to see each other at the next stop light. Not to say the i3 is slow, far from it, just saving that much more money at the pump to get to the same point.

Just remember REx don't qualify for white HOV stickers, just green, and I guess theyre out of those currently. Only the BEV gets white if that matters to you.

Best

Sako

 

[16hrDay]

they are still taking applications which makes me think they will issue more of them. I also realized I qualify for current BMW owner rebate. $1000.

 

[aspec818]

they are still taking applications which makes me think they will issue more of them. I also realized I qualify for current BMW owner rebate. $1000.

What is the current BMW owner rebate? I currently drive a 05 545i v8 money pit behemoth and am seriously thinking of switching to an an EV, maybe a 2016 i3. Do I have to trade in my current BMW to get the rebate?

 

[sako]

there is loyalty rebate, $1000 - if you lease or finance thru BMWFS. So no, I don't think you need to trade in your existing.

There might still be 2000$ build out cash - but I don't know if that's for 2016s or just 2015s.

I heard there is a waiting list for green stickers if they decide to issue more, so I guess get in line.

 

[websterize]

Is the .00152 money factor the new base rate? Seems high. It's negotiable but also dependent on your credit rating, as I recall.

 

[16hrDay]

I believe you only have to own one to get the rebate you don't have to sell it. as for an i3 read the posts. the 2015 is the place to be! big money discounts