Leasing a Rex Model - is this a good deal?

[OnceGoWonder]

1. If he's taking $6k off MSRP, that's only 11.5%. I guarantee you can get him to drop to AT LEAST 17% off MSRP.

2. What is the KBB/Edmunds trade-in AND private party values on your cars?

3. What do you still owe and on which car?

So I reach out to that dealer again and indicated that the trade in values were pretty low. He basically told me to take it or leave it.
Then I asked him about the discount being a bit low, and wanted to know if he'd be willing to give me a 17% discount off MSRP. So not only did he not give me that, he basically said I should be grateful that I even got the 11% discount.

I'm at a loss for words why the attitude. :? Is this typical behavior from BMW? I've never owned a BMW before, but have owned other luxury brand cars before.

 

[Jeffj]

The behavior is inexcusable, but discounts vary widely based on where you are. In SoCal, its possible to get relatively large discounts. If you don't live on the coasts or Atlanta, the discounts are smaller.

 

[easports82]

I've heard of BMW dealers like that. Some want to make a sale at any price and others are wed to the price sheet. If you've got the patience, just shop around dealer to dealer.

 

[OnceGoWonder]

Yeah, I can wait...for a little bit...maybe another month or two, but that's it.
I did get another dealer's response who gave me a more favorable trade-in value for my 2 cars.
They are going to provide me with a lease scenario Monday so I'll have another one to compare against.

After that, I may simply start calling other dealers around the bay area and ask them to give me estimates, etc.

Will keep y'all updated!


Quick question though, besides the two tone seats and wood dash trim, are all the standard features on a Giga World trim the same as a Mega?

 

[Spanglo]

I got a 17.8% off of MSRP price promise offer using Edmunds.com. Wasn't exactly what I was looking for, but the same dealer offered me 15% on another one, and tonight we agreed on 16% off MSRP. I plan on picking it up tomorrow.

 

[shrikantc]

Here is my lease deal for the i34 REx with sticker of $52,200. Located in greater Philadelphia area.

24 months, 10K miles per year. Downpayment of $3841 inclusive of all taxes. $315 per month. Taxes here are 9% on leases.

 

[NormanF]

I am in my first lease ever and I have a question. I leased an i3 REx and after a few week I still love it. My question is: if I buy it at the end of the lease, how much of the warranty transfers? Meaning, does it suddenly become a used car? Also, since it is a lease won't I technically be the second owner? My biggest concern is, of course, the battery warranty.

 

[OnceGoWonder]

So I got another lease offer from a different bay area dealer.
This is what was offered.

The lease offer below "seems" to be worse than the first one I was offered from a different dealer...I'm just basing this on the monthly amount and the discounts offered.

Let me know what y'all think!
************************

These are the rough estimate for your two cars -
Car #1: low to mid $20K
Car #2: b/t $7K to $8K

I have a 2014 Mega World I3 with the options that you have requested (tech & parking packages).The 30 month lease with 10,000 miles will run $548.80 per month with just drive off[$1590.88].
The MSRP is $51250.00 and the selling price is $45851.00 There is a BMW rebate of $5500.00 from BMW.There is no Federal credit on a lease and the California Rebate you have to apply for.

 

[Zony]

So I got another lease offer from a different bay area dealer.
This is what was offered.

The lease offer below "seems" to be worse than the first one I was offered from a different dealer...I'm just basing this on the monthly amount and the discounts offered.

Let me know what y'all think!
************************

These are the rough estimate for your two cars -
Car #1: low to mid $20K
Car #2: b/t $7K to $8K

I have a 2014 Mega World I3 with the options that you have requested (tech & parking packages).The 30 month lease with 10,000 miles will run $548.80 per month with just drive off[$1590.88].
The MSRP is $51250.00 and the selling price is $45851.00 There is a BMW rebate of $5500.00 from BMW.There is no Federal credit on a lease and the California Rebate you have to apply for.

Wonder... I personally would not sign this deal... the BMW rebate as I am reading it from another dealer site (http://www.kunibmw.com/new/BMW/2014-BMW-i3-7d14e8dd0a0a00e01c48fcb1fcfd42dc.htm?ref=hero) is actually an enhanced fed tax credit (?!) There is also the 2k innovation rebate.... so - if you were to get all that your monthly would be roughly $481 including tax.

A couple of things to consider... REX's are more popular than BEV's, so less of a deal may be found... also I can't help but think that mentioning a trade-in (s) is hurting you some... I'd separate the two - or look at a Auto Trader etc type of straight sale.

As always... I defer to those who are deeper in the lease/purchase process - I REALLY like Spanglo's deal - that's my new bar ... and my numbers are rough - let us know how and where you go on your dealings.

Z

 

[OnceGoWonder]

Hmmm, I did put my car up for sale on autotrader.com, but gotten only the paypal scammers. Nobody else.
There was also an option on autotrader.com of just trading in the car...may look into that as well.

I didn't think this was such a good deal either, but wanted to post an update on what I received.

Basically, what I'm really after is if I can find a dealer that will take both my cars for trade-in's and give me a good enough value for them that I will not need to put much (if any) downpayment on a new REX lease. I'd also like to keep my monthly payment under $500 including tax.

I likely won't have time this week, but next week, I'll start calling other dealers in the SF Bay Area and inquire. My goal is to lease the new car by end of the month...

 

[Schnort]

No love from carmax or autonation?

 

[OnceGoWonder]

No love from carmax or autonation?

I did take my car to carmax, but they really low-balled me. I was appalled by their offer tbh...

Haven't heard of autonation, so I'll look them up tonite. Thanks for the suggestion!

 

[OnceGoWonder]

So here's the last/latest offer from the first dealer:

Model 14IB i3 Rex USD 45,200.00
Color B79 Laurel Grey Metallic w/ BMW i Frozen Blue accent 550.00
Upholstery BKCI Mega Carum Spice Grey Sensatec & Carum Spice Grey Cloth N/C
Options ZWM Mega World N/C
7KX Mega (Sensatec and Cloth) N/C
494 Heated front seats 350.00
4U7 DC Fast Charging (SAE) 700.00
8S4 Variable Light Decoding N/C
927 All-season tires N/C
9AA Transport protection N/C
Net Total 46,800.00
Destination Charge 950.00
Total Suggested Price 47,750.00

A base Mega World model, and here's what the dealer is offering:

You give us both your cars we pay off the loan.

$0 down payment. You write us a check for $1,572 for basic drive off, which covers first payment, registration, and taxes
$519 plus your local sales tax - for us here it's 9%

If you can make it down to see me, I'll shave your payment down to $497 plus tax. Thanks and let me know your thoughts. This is one of the few i3's I have with such discounts.

Adding the 9% tax, I assume my new monthly payment is $541.73?
I calculated this by taking the $497 + $44.73 (9% sales tax based on the $497).

Do you think this is a good/decent deal?

Another question - isn't the DC Fast Charge standard? Or is it only on the 2015 model?

 

[ryandesign]

Another question - isn't the DC Fast Charge standard? Or is it only on the 2015 model?

On the 2014 model, heated seats cost $350 extra (option 494) and DC fast charging costs $700 extra (option 4U7). On the 2015 model, the base price is increased by $1050 and heated seats and DC fast charging come standard.