Lease Deal I Negotiated: Good/Bad?

[RobJones]

I have scanned my Retail Purchase Agreement, which shows the total cash up-front amount that I paid and the final negotiated selling price of the car. And I've scanned the Lease Agreement which shows how all the numbers were manipulated to arrive at the selling price and monthly payments.

I have redacted all of my personal identification information, but I'm still not quite comfortable posting these documents on a public internet forum for all of the world to see. So, if you are genuinely shopping for a car and would like to see these documents for comparison, please send me a PM with your EMAIL ADDRESS and I will send you a PDF of each document (with the understanding that they are for your own personal use and not public distribution).

-Rob

 

[i3atl]

I have scanned my Retail Purchase Agreement, which shows the total cash up-front amount that I paid and the final negotiated selling price of the car. And I've scanned the Lease Agreement which shows how all the numbers were manipulated to arrive at the selling price and monthly payments.

I have redacted all of my personal identification information, but I'm still not quite comfortable posting these documents on a public internet forum for all of the world to see. So, if you are genuinely shopping for a car and would like to see these documents for comparison, please send me a PM with your EMAIL ADDRESS and I will send you a PDF of each document (with the understanding that they are for your own personal use and not public distribution).

-Rob

Good call. Be sure to remove the VIN and any dealer specific codes/etc as well.

 

[jpa2825]

I have scanned my Retail Purchase Agreement, which shows the total cash up-front amount that I paid and the final negotiated selling price of the car. And I've scanned the Lease Agreement which shows how all the numbers were manipulated to arrive at the selling price and monthly payments.

I have redacted all of my personal identification information, but I'm still not quite comfortable posting these documents on a public internet forum for all of the world to see. So, if you are genuinely shopping for a car and would like to see these documents for comparison, please send me a PM with your EMAIL ADDRESS and I will send you a PDF of each document (with the understanding that they are for your own personal use and not public distribution).

-Rob

Perfectly reasonable request. PM sent.

 

[aspire]

I got a lease quote for 2015 i3 BEV - White Color.... let me know if this is a good price or not. Thanks!

Lease Details:
- Giga world interior, Tech Pkg, Park assist Pkg, and Harman Kardon Sound
- 30 month / 10K Lease
- MSRP 49,195 & Initial Cap Cost is 41,771
- Monthly payment is $150 (tax incl.)
- Total Drive-off amount is $4995 (all incl.)

 

[Havok1327]

That looks like a good deal to me. What dealer was it, if you don't mind me asking.

 

[i3green]

I got a lease quote for 2015 i3 BEV - White Color.... let me know if this is a good price or not. Thanks!

Lease Details:
- Giga world interior, Tech Pkg, Park assist Pkg, and Harman Kardon Sound
- 30 month / 10K Lease
- MSRP 49,195 & Initial Cap Cost is 41,771
- Monthly payment is $150 (tax incl.)
- Total Drive-off amount is $4995 (all incl.)

Looks extremely good. How did you get $150 monthly with just 5k down?

 

[RobJones]

Wow, that's a GREAT deal! Nicely done!

FWIW, when I was being quoted lease rates, the 24 month had the lowest payment. I would normally expect the longer term to have lower payments, but apparently that's not the case.

 

[jpa2825]

Wow, that's a GREAT deal! Nicely done!

FWIW, when I was being quoted lease rates, the 24 month had the lowest payment. I would normally expect the longer term to have lower payments, but apparently that's not the case.

For DEC BMW adjusted the residuals. Currently 30 mo. appears to be the "sweet spot."

 

[jpa2825]

I got a lease quote for 2015 i3 BEV - White Color.... let me know if this is a good price or not. Thanks!

Lease Details:
- Giga world interior, Tech Pkg, Park assist Pkg, and Harman Kardon Sound
- 30 month / 10K Lease
- MSRP 49,195 & Initial Cap Cost is 41,771
- Monthly payment is $150 (tax incl.)
- Total Drive-off amount is $4995 (all incl.)

I was trying to figure out how you could find a Giga w/ Tech, Park assist and HK for an MSRP of <$50k. Just realized from your description it is BEV w/ no REX. Still a pretty sweet deal.

From your paperwork, can you post the following for the benefit of the rest of us?

5. - Amount Due at Lease Signing or Delivery $_______________ (assume maybe $14,495 = $4,995 + $7,500 rebate + $2,000 Happy Holiday Adder?)
6 - Monthly Payment $_________ (assume 29 more payments of $150/mo. based on 1st payment being included in the $4,995)
9.A.1 - Capitalized Cost Reduction $____________
9.A.11 - Doc Fee $__________ (typically around $599)
10.A. - Gross Capitalized Cost $___________ (typically buy price [$41,771] + taxes, title, acquisition fee, etc.)
10.D. - Residual Value $____________ (should be $29,025.05 [MSRP of $49,195 * 59% residual])
10.F. - Rent Charge $_____________ (a function of money factor [.00131 unless reduced w/ MSDs])

 

[i3atl]

We would really need to know the specific number for taxes as well, since they vary so much from state to state.

 

[aspire]

I got a lease quote for 2015 i3 BEV - White Color.... let me know if this is a good price or not. Thanks!

Lease Details:
- Giga world interior, Tech Pkg, Park assist Pkg, and Harman Kardon Sound
- 30 month / 10K Lease
- MSRP 49,195 & Initial Cap Cost is 41,771
- Monthly payment is $150 (tax incl.)
- Total Drive-off amount is $4995 (all incl.)

I was trying to figure out how you could find a Giga w/ Tech, Park assist and HK for an MSRP of <$50k. Just realized from your description it is BEV w/ no REX. Still a pretty sweet deal.

From your paperwork, can you post the following for the benefit of the rest of us?

5. - Amount Due at Lease Signing or Delivery $_______________ (assume maybe $14,495 = $4,995 + $7,500 rebate + $2,000 Happy Holiday Adder?)
6 - Monthly Payment $_________ (assume 29 more payments of $150/mo. based on 1st payment being included in the $4,995)
9.A.1 - Capitalized Cost Reduction $____________
9.A.11 - Doc Fee $__________ (typically around $599)
10.A. - Gross Capitalized Cost $___________ (typically buy price [$41,771] + taxes, title, acquisition fee, etc.)
10.D. - Residual Value $____________ (should be $29,025.05 [MSRP of $49,195 * 59% residual])
10.F. - Rent Charge $_____________ (a function of money factor [.00131 unless reduced w/ MSDs])

Finally done the actual paperwork. Here are more details from it:
5. Amount due at lease signing $13,995
6. Monthly Payment $154.33 (incl. taxes). 29 more payments
9.A.1. - Cap Cost Reduction $10,579.97
9.A.11. - Doc Fee $80
10.A. - Gross Cap Cost $$41,771
10.D. - Residual Value $29,025
10.F. - Rent Charge $1,137.22

Good luck; Dec is the month to buy/lease a car!

 

[pv100]

Sounds like a great deal.
Quick question: most states offer a mail-in cash rebate of up to $2,500. Does that mean that your net out of pocket down payment was $4,995 less $2,500 = 2,495 ?? Or, is that factored into the happy holidays discount?
Thanks.

 

[aspire]

Sounds like a great deal.
Quick question: most states offer a mail-in cash rebate of up to $2,500. Does that mean that your net out of pocket down payment was $4,995 less $2,500 = 2,495 ?? Or, is that factored into the happy holidays discount?
Thanks.

Net out of pocket = $4995 - ($2500 mail-in rebate + $1750 MSD) = $745 + (29*$154) = $5211

 

[pv100]

$5211 only?? Over 30 months?!! Of which you get your $1750 MSD back = $3,461 ... that's $115/mo.
Whoa!! Incredible deal.

 

[nismowu]

WOW!! Which state you are in??
I just got the base Mega, 24 month/10k $0 down $330 per month tax included.....crap!
I'm in GA so no more tax rebate from the state.

 

[eneka]

Here's my deal for comparison

Arvvani greyx rex, giga, 20", parking, and driving assistant
MSRP $53,545

Selling price is $47,960 (11% off msrp)
-Happier Holiday $2,000

=$45,960

Residual is still the same this month at 59% 30 month/10k

$31951.55

$7,500 federal rebate
$1,000 college grad
$1,000 UDE
=$9,500 cap. reduction

$2,383.46 (taxes, registration and fees)
$1,750 (7 Security deposits@$250/each)
$237.71 first payment

$4,371.28 due at signing.

so $237.71*29 =$6,893.59+$4,371.28=

$11,264.87-$1,750(security dep)-$2,500(CA rebate)

=$7,014.87 total cost of lease after 30 months.

I probably could've gotten another $1k off the msrp but I was content with the deal, didn't even really haggle at all.

 

[RobJones]

Awesome deal! Well done!

 

[gnocchi42]

These are great deals but neither party has stated the dealership they bought them which creates doubt as to validity. I"m hoping these are real - and this isn't just somebody who is bored posting fake numbers. ASPIRE are you in California and if so what dealership did you purchase? Eneva - what dealership in California? I'd imagine the dealers would be happy to have their name out there - since i3s aren't selling like they had hoped and there are people on this board looking to purchase. It's a win-win.

 

[eneka]

These are great deals but neither party has stated the dealership they bought them which creates doubt as to validity. I"m hoping these are real - and this isn't just somebody who is bored posting fake numbers. ASPIRE are you in California and if so what dealership did you purchase? Eneva - what dealership in California? I'd imagine the dealers would be happy to have their name out there - since i3s aren't selling like they had hoped and there are people on this board looking to purchase. It's a win-win.

Greg Poland from Pacific BMW, he was awesome. If you google him, he's quite well known within the BMW community.

 

[jpa2825]

Here's my deal for comparison

Arvvani greyx rex, giga, 20", parking, and driving assistant
MSRP $53,545

Selling price is $47,960 (11% off msrp)
-Happier Holiday $2,000

=$45,960

Residual is still the same this month at 59% 30 month/10k

$31951.55

$7,500 federal rebate
$1,000 college grad
$1,000 UDE
=$9,500 cap. reduction

$2,383.46 (taxes, registration and fees)
$1,750 (7 Security deposits@$250/each)
$237.71 first payment

$4,371.28 due at signing.

so $237.71*29 =$6,893.59+$4,371.28=

$11,264.87-$1,750(security dep)-$2,500(CA rebate)

=$7,014.87 total cost of lease after 30 months.

I probably could've gotten another $1k off the msrp but I was content with the deal, didn't even really haggle at all.

A - very good deal
B - I thought the DEC residual for 30/10k was altered to 57%. Can anyone confirm that 59% is the correct #? This is not something that should be variable. Should be the same across the board for BMWFS, right?

I show the following matrix. Is it correct?

Residuals for DEC 2015
24 30 36
10k 59% 57% 53%
12k 58% 56% 52%
15k 56% 54% 50%