Lease Deal Seems Bad

[Snotdoc]

Hey all. Just got first offer back on a Tera loaded and seems very high. Thoughts?


MSRP as configured: $52,000
Sale Value: $49,500

Lease details:

Residual: 63% 24/10k
Money factor: .00130
Acquistion fee: $795 rolled in
GA TAVT: $3,576 rolled in
BMW FS Rebate as cap reduction: $4,875
Payment: $782; $802 for 12k
1st payment, license fees, and documentation fee due at delivery.

30/10k is $730; 12k $747

 

[Snotdoc]

I'm in Georgia by the way.

 

[jhu321]

2014 or 2015? 15 is probably par for the course. 14 is an extremely bad deal.

 

[nkcho]

You must be working on the 2015 model. The selling price doesn't seem to be fair for 2014.

 

[PDXelectric]

Hey all. Just got first offer back on a Tera loaded and seems very high. Thoughts?


MSRP as configured: $52,000
Sale Value: $49,500

Lease details:

Residual: 63% 24/10k
Money factor: .00130
Acquistion fee: $795 rolled in
GA TAVT: $3,576 rolled in
BMW FS Rebate as cap reduction: $4,875
Payment: $782; $802 for 12k
1st payment, license fees, and documentation fee due at delivery.

30/10k is $730; 12k $747

I think you can do better. I would consider shopping around for a 2014 with your basic specs for the cost savings. I am assuming it is a i3 BEV with all of the options at 52,000. My dealer mentioned that the "Build out" cash was negotiable/available with 2015 models. I played around with the numbers on a lease calculator and would propose this deal to your dealer. Ask for $7500 of cap reduction. Ask them to waive the doc fee.

MSRP: 52000
Estimate GA TAVT: ~3400
Cap Reduction: 7500
Title Fee ~100
Acquisition Fee: 795
residual 24/10K 63%

Money Down: 870
Monthly payment 769

I did a quick search of a couple of Georgia dealers and they seem to have quite a few 2014 i3s. Even if you really don't want the extender, I think you would end up paying much less for a similarly packaged 2014 REX than your 2015 BEV. The other thing working against you seems to be the GA tax. It looks like you pay this upfront for the entire sales price of the vehicle?? This really hurts lease costs. You are at a monthly payment where it may be worth considering buying with a low interest 5 year loan. (especially if you are considering keeping it long term)

 

[Snotdoc]

Thanks for the responses so far. One thing that hasn't been mentioned is that there is (until June 30) $5000 state tax credit in Georgia for the BEV, but not for the REX. I will look into 2014's but the prices still seem to be much higher than what I mentally pegged this at when I was starting to look. I can afford it, but its more than I want to spend on this car and I definitely do not want to own it. I'm going to try to find a 2014 well equipped that a dealer really wants to unload prior to the tax credit expiration.

Thanks!

 

[imolazhp]

If you are anywhere near Atlanta I would suggest checking out United BMW Roswell.

I'm getting a 2015 REx with every option ($55,850 MSRP) and after putting $4500 down my payment is only $558. Same MF, same $4875 from BMWFS. I'm getting more off of MSRP than $2500, not quite double.

Oh, but I am buying from Tennessee, we only pay tax on the payment, its only about $40/month if I recall. Heck, even if your not that close to Atlanta you might check them out. I'm driving back my REx tomorrow, 400 mile trip. They did offer to ship it to me and unlike a competing dealer in their area would have NOT required me to come in if I did have them ship it. They overnighted me the paperwork Monday, I sent it back Tuesday, when I show up tomorrow all I have to do is take delivery.

Also, that competing dealer in Atlanta, I tried to buy a 2014 from them and their price was $100 more per month. Same car specs, same money down, same terms (except they were gouging my MF). They must have been adding other things too or they are really bad at math. Was supposed to be an additional $1000 off MSRP too.

 

[PDXelectric]

Do you get the Georgia tax credit on a lease or does the leasing company?

 

[nodomo]

Snotdot - I just picked up a 2014 i3 yesterday. Judging by the deal I got, I think your monthly quote is at least $300 too high. Let me know if you want my dealer contact info to comparison shop.

Btw, I got my i3 from a large Autonation-owned dealer in Northern California. Even with the cost of shipping to GA, I think it would save you a ton to buy and ship it if you can't find a good deal locally.

 

[Snotdoc]

Do you get the Georgia tax credit on a lease or does the leasing company?

Yes as a tax credit.

 

[i3atl]

Yes as a tax credit.

Sent you a private message.