Quote:
Originally Posted by eric9610
In CA it makes more sense to lease electric and hybrid cars since BMW will apply the $7,500 as part of the down payment (Ford and Nissan offer similar programs on EV's). The total down on the i3 would be $11,500 ($7,500 tax credit + $4k) and the payment will be in the $720 dollar range. BMW knows new tech will be out in 3 years and does not want to get stuck with a bunch of lease returns that is why the residual is so low(43%, i don't know any bmw that has less than 50% currently), this does not bode well for resale. The i3 will suffer the same problems all hybrids and EV's do and that is that technology changes fast.
Also in CA you can apply for a $2,500 cash credit from the state. I had a Leaf for a while and was really interested in the i3 but when I saw the program BMW is offering I will pass. I plan on buying a 228I with m-sport.
I feel the lease price won't hurt sales since many of the people that were testing the cars appeared to be interested in them as status symbols.
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Actually BMW is (for reasons not yet clearly explained) NOT giving leasers the benefit of the full $7,500 federal tax credit; they are only passing $4,875 of this credit along.
That said, they have created a lease-like financing program called "owners choice" that does let people take the full $7,500 off of the initial purchase price -- but you then have to pay that $7,500 back to BMW at the end of the financing term (of course you yourself will have benefited from the $7,500 tax credit on your first tax return after getting the car).
Pretty complicated, yes? Best to talk directly with your dealer's finance person to sort through all this.