Is this a good deal?? 24 month lease...

[fferro09]

Hi everyone,

I'm seriously considering leasing the i3 for 24 months. I'm in the United States in Virginia close to Washington, D.C.

The best offer I got was an i3 with the Giga World trim, Technology Package, Parking Assistant Package, Heated Front Seats, DC SAE Fast Charger, and the Harman/Kardon audio system... MSRP of $49,900 and they marked it down to $43,922.

For a $3,000 down payment, they're offering me a monthly payment of $417 for 24 months. The US government gives a $7,500 tax rebate, which is why the MRSP is thousands lower I think? For leases, they say the residual value gets a bump up of about $4,000.

Until now, I haven't really found any other offers comparable to this one. But is $43,922 a fair price? Should I ask them to lower it to $42,922? I'm new to car buying so any help would be nice, thanks!

 

[lschellong]

Hi, I just leased my i3 rex in CA. The sales price is only one piece to the leasing puzzle. In order to evaluate your deal you need to find out the net-cap cost (msrp minus discount minus government credit less minus down payment). Next you need to confirm the residual % on your 24 lease which varies by mileage (10/12/15k). Ensure that the dealer is using the lowest money factor (apr) of .00125 if you have top tier credit. Your msrp discount of ~12% seems ok.

Based on your info provided I get the following without you putting money down toward the cap cost:

MSRP 49900
Discount -5978
Govt credit -4875
Net Cap cost 38047
Residual value after 24 month/10k per year (63%) 31437
Depreciation 6610
Monthly base lease 24 275.41
Money factor 0.00125 86.855
=362.27
+Sales tax 5.75% (washington?) 20.83
Monthly lease incl tax 383.10

So if you pay your fees at drive off (license, registration, lease acquisition fee (725) and first month payment with should be around ~2200 total, your lease should be below $400incl tax.

 

[fferro09]

Thanks for the thorough answer. It would be for 10,000 miles per year. But something I just discovered is the absurdly high premium to insure the i3... Geico insured my previous car with 330 hp and a top speed of 150+ mph for $110/month. Why is the i3 $270/month????

 

[websterize]

… But something I just discovered is the absurdly high premium to insure the i3... Geico insured my previous car with 330 hp and a top speed of 150+ mph for $110/month. Why is the i3 $270/month????

Because the insurance companies take a guess at the price until they collect enough actuarial data to develop a more accurate rate. At least that's what my agent said. In other words, they're going by MSRP.

 

[websterize]

I wouldn't put any money down on a lease, especially this slow seller. They can do better.

 

[ultraturtle]

Why is the i3 $270/month????

Shop around. I pay $42.94 per month thru USAA

 

[5ABIZ]

Good afternoon All,

I recently leased a 2014 BMW i3 Mega World @ $257 (approx) a month for 24 months & 12k miles/ year in Atlanta, GA.... Catch: Dealer asked for $12.5k down payment which I'm hoping to get back when I file taxes next year as GA provides a $5k state incentive in addition to $7.5k Fed incentive.

:shock: Trust me when I traded in my 535i, the real lease cost (OUT THE DOOR) was $1/ month for 24 months...... but then, got called twice by the dealer as BMW Bank of North America rejected the application for $0.00 and $1.00 leases .... :shock:

Crux of the story: Wait ... do the homework and super SECRET: Do check the leases in other areas also ..... I'm pretty sure dealer will not like this part so, I apologize in advance but ... :idea:

Please use other cities ZIP codes... and search for local dealerships and their MONTH END specials... the closer you are to month's end, the better the deals... Try 30004 zip for Alpharetta/ Atlanta... Chino HIlls, CA @ 91709...............Des Moines, IA @ 50301.......and Tampa, FL @ 33633 :ugeek: .. @ the end, you can request/ ask/ challenge your local dealer to match that deal cause in the end ... you're joining the BMW family ... the Ultimate Driving Machine

PS: So far, my dailing commute of approx 65-70 miles on single charge is solving the purpose... fully enjoying the drive on Comfort/ Eco-Pro... I'm charging every night using level 1 (110Volt) now but getting the Level 2 BOSCH charger over the weekend... YAY! :mrgreen: :lol: :mrgreen:

UPDATE on 11/14: WOAH!!! What can I say.... a drop of approx $100 in 10 DAYS..... !!!! BMW i3 lease is TOO GOOD to be true so, def YES to lease around this time of year.... Please check the pic that I'm attaching for y'alls perusal (worth 1000 words...!). $139/ month for 24 months @ 10k a year... mind blowing!!!


SORRY- but system is not allowing me to attach a pic... any suggestions?? Rest, in GA we do get Fed + State incentive don't be jealous y'all :mrgreen: :shock: :mrgreen:

 

[fferro09]

I got the i3!!! It has the Harman/Kardon sound, tech package, parking package, Giga trim, heated seats, and DC SAE fast charger. I got it for $399/month for 24 months and only $2,000 down. It's like everything I'd ever want and more out of a car

Last night I tried going to a DC fast charging station, but the plug was just a single round plug with like 4 prongs or something, and it wouldn't fit into the two-slotted charger on the i3. Do I have to get an adapter? Should I ask the dealer to give me on since they didn't tell me I'd need one? :/

 

[WoodlandHills]

Just like Betamax vs VHS, there are two standards in the non-Tesla EV world: CHaDEMO for the Japanese and CCS for everyone else. There are a whole lot more CHaDEMOs around than CCS DC fast chargers out there although there is a big push to build out the CCS infrastructure ASAP.

 

[dlass0123]

in CA 24 month lease NO federal and NO state funds given to lessee:
how could you get both in GA??

no credit or checks

 

[5ABIZ]

Lill' off-topic but just curious:
1) What can a buyer/ lessee do if they see a reduction in lease price within 10-14 days of signing a contract/ lease? Example: something going for $250 started rolling out at $150 here in GA...? Keeping down payment, # of miles/ year and # of months SAME for both .... Any views/ suggestions? Thanks!
2) How far (low $$$?) can bmw i3 dealers go to attract new buyers if they are not meeting the #s in home country (Germany)... or let's say mid Jan (after a snow fall in GA - let's assume!).

-- Just read on green car reports that i3 sales are hurting in Germany. :shock: ... not good!

 

[GTRules]

Anyone have recommendation in the Atlanta area for best deal, best dealer to work with?

I have been negotiating with Leaf dealers, but not pleased with my experience so far, so think I will go the I3 route instead...

 

[NormPeterson]

Anyone have recommendation in the Atlanta area for best deal, best dealer to work with?

United BMW is running great specials. http://www.bmwroswell.com/bmw-lease-bmw-i3-special-offer-dealer-8593-sid-56785.html I worked with Dimitri Gossieaux, and he was great.

 

[5ABIZ]

Yes Sir... I went to United too (@ Gwinnett) and highly recommend ROMEO....nothing can beat that deal or awesome service...!!!!
PS: GTRules- i sent you a msg earlier for the same....

 

[ultraturtle]

Anyone have recommendation in the Atlanta area for best deal, best dealer to work with?

Ask for Garland Helton at Global Imports. He was fantastic to work with in general, and matched the best deal I could get in Columbus and Macon (both lower than United). Thier service department has been superb servicing my wife's 3 series over the past couple of decades.