Forum for the entire range of BMW electric vehicles
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read
BMW i3 Forums BMW i3 General Discussion

Post Reply
 
Thread Tools Search this Thread
      03-01-2014, 05:30 PM   #1
hawkerdriver
First Lieutenant
United_States
50
Rep
312
Posts

Drives: 2016 M3
Join Date: Jul 2011
Location: Marina del Rey

iTrader: (1)

Anyone know if BMW NA has released the lease rates on the i3?
Appreciate 0
      03-01-2014, 10:06 PM   #2
eric9610
Private First Class
9
Rep
153
Posts

Drives: 2020 Telsa Model YLR
Join Date: Dec 2012
Location: Newport Coast

iTrader: (0)

I just got done driving an i3 all electric at a local dealer and the car is very nice. BMW has informed dealers of the initial lease rates and program for the cars. The payment will be $700.00 + plus tax with 4k down on top of the credit, 15k miles per year and a residual of 43%. Good luck BMW. Also my local dealer is getting 8 i8's.
__________________
2021 MYLR (c), 2016 MB E350 (c),2018 MB E300 (r), 2019 AMG GT63s 4D (r),2018 MB E63S (r), 2018 911T (r), 2014 X5M (r), 2013 X1 35i (r),2011 M3 (r), 2010 328i (r), 2008 M3 (r),2005 330ci (r), 2004 Lotus Elise (r), 2004 X3 (r),2002 330ci (r), 2002 Hummer (r), 2002 MB G500(r), 2000 Z8 (r), 2000 323cic (r)
Appreciate 0
      03-01-2014, 10:35 PM   #3
catpat8000
Lieutenant
United_States
34
Rep
421
Posts

Drives: 2019 M5
Join Date: Mar 2010
Location: California

iTrader: (0)

Quote:
Originally Posted by eric9610 View Post
I just got done driving an i3 all electric at a local dealer and the car is very nice. BMW has informed dealers of the initial lease rates and program for the cars. The payment will be $700.00 + plus tax with 4k down on top of the credit, 15k miles per year and a residual of 43%. Good luck BMW. Also my local dealer is getting 8 i8's.
Maybe I misunderstand but my dealer told me there was a ~5K rebate on leased cars to make up for part of the $7500 credit.

But in CA there is a $7500 federal credit and, I think, a $2500 state credit. So even without considering lease rates, isn't it a no-brainer to buy since buying gets you a $10K credit?
Appreciate 0
      03-01-2014, 10:56 PM   #4
eric9610
Private First Class
9
Rep
153
Posts

Drives: 2020 Telsa Model YLR
Join Date: Dec 2012
Location: Newport Coast

iTrader: (0)

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.
__________________
2021 MYLR (c), 2016 MB E350 (c),2018 MB E300 (r), 2019 AMG GT63s 4D (r),2018 MB E63S (r), 2018 911T (r), 2014 X5M (r), 2013 X1 35i (r),2011 M3 (r), 2010 328i (r), 2008 M3 (r),2005 330ci (r), 2004 Lotus Elise (r), 2004 X3 (r),2002 330ci (r), 2002 Hummer (r), 2002 MB G500(r), 2000 Z8 (r), 2000 323cic (r)
Appreciate 0
      03-02-2014, 01:35 AM   #5
catpat8000
Lieutenant
United_States
34
Rep
421
Posts

Drives: 2019 M5
Join Date: Mar 2010
Location: California

iTrader: (0)

Quote:
Originally Posted by eric9610 View Post
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.
I'm not arguing with you 'cause I don't know for certain but my sales person did say explicitly that the rebate from BMW on a lease was $4800, not $7500 and second, that the CA state rebate was not available for leased cars.

But you are right that the low residual suggests a brutal retail in 3-4 years. It's the biggest reason I wouldn't buy an i8 - that car will likely be obsolete in 4 years.
Appreciate 0
      03-02-2014, 12:15 PM   #6
eric9610
Private First Class
9
Rep
153
Posts

Drives: 2020 Telsa Model YLR
Join Date: Dec 2012
Location: Newport Coast

iTrader: (0)

Quote:
Originally Posted by catpat8000 View Post
I'm not arguing with you 'cause I don't know for certain but my sales person did say explicitly that the rebate from BMW on a lease was $4800, not $7500 and second, that the CA state rebate was not available for leased cars.
I don't know what your CA was telling you but if that was the case BMW is screwing all the people leasing the cars. I am not trying to argue but my Leaf was a lease and it qualified for the CA rebate and full tax credit. From my knowledge the all electric model will qualify but the rex model won't, this also applies to the carpool stickers. There is specific criteria to getting the $2,500 CA rebate, one of them being the lease term must be 3 years and second funds must still be available.

The car is on par with the Leaf and Focus all electric yet the payment is double, this makes no sense to me. You can Lease an all electric Focus for $290 + tax with 0 down and 15K miles per year. I really question what BMW is thinking with this car.
__________________
2021 MYLR (c), 2016 MB E350 (c),2018 MB E300 (r), 2019 AMG GT63s 4D (r),2018 MB E63S (r), 2018 911T (r), 2014 X5M (r), 2013 X1 35i (r),2011 M3 (r), 2010 328i (r), 2008 M3 (r),2005 330ci (r), 2004 Lotus Elise (r), 2004 X3 (r),2002 330ci (r), 2002 Hummer (r), 2002 MB G500(r), 2000 Z8 (r), 2000 323cic (r)
Appreciate 0
      03-02-2014, 12:30 PM   #7
bozola
Unloved BMW Addict
bozola's Avatar
United_States
86
Rep
1,185
Posts

Drives: Z3 Coupe, 3 318Ti
Join Date: Oct 2007
Location: King County WA

iTrader: (0)

Garage List
1999 Z3 Coupe  [10.00]
1998 318Ti  [0.00]
1998 318Ti  [10.00]
2008 128i  [9.00]
I really hope this car is a flop, so I can get one for cheap.
Appreciate 0
      03-02-2014, 12:49 PM   #8
eric9610
Private First Class
9
Rep
153
Posts

Drives: 2020 Telsa Model YLR
Join Date: Dec 2012
Location: Newport Coast

iTrader: (0)

Quote:
Originally Posted by bozola View Post
I really hope this car is a flop, so I can get one for cheap.
+1

I am in for $350 a month not a dime more since comparable vehicles can be had for that price.
__________________
2021 MYLR (c), 2016 MB E350 (c),2018 MB E300 (r), 2019 AMG GT63s 4D (r),2018 MB E63S (r), 2018 911T (r), 2014 X5M (r), 2013 X1 35i (r),2011 M3 (r), 2010 328i (r), 2008 M3 (r),2005 330ci (r), 2004 Lotus Elise (r), 2004 X3 (r),2002 330ci (r), 2002 Hummer (r), 2002 MB G500(r), 2000 Z8 (r), 2000 323cic (r)
Appreciate 0
      03-02-2014, 12:51 PM   #9
hawkerdriver
First Lieutenant
United_States
50
Rep
312
Posts

Drives: 2016 M3
Join Date: Jul 2011
Location: Marina del Rey

iTrader: (1)

Thanks for the info guys

My CA told me a MF of 0.00125
And a residual of 46%
At 10,000 miles / 36 months.

He did not give me a full quote yet, but if we do not qualify for the full $7500 tax credit this will be a very expensive option.

Even if you get the $4800 credit it's still about $575 a month "CA taxes incl"

The change in technology over the next few years will improve rapidly and I honestly don't think it's beneficial to own this vehicle after a 3 years or so.

Anyone care to share their lease / purchase deals?
Appreciate 0
      03-04-2014, 04:41 AM   #10
catpat8000
Lieutenant
United_States
34
Rep
421
Posts

Drives: 2019 M5
Join Date: Mar 2010
Location: California

iTrader: (0)

Quote:
Originally Posted by eric9610 View Post
I really question what BMW is thinking with this car.
This isn't a direct contribution to the discussion but I read an amusing quote earlier today. Someone was pondering why they ought to buy an electric car and concluded it was basically like owning "an efficient car with a 2 gallon gas tank that takes 8 hours to fill".
Appreciate 0
      03-10-2014, 05:52 AM   #11
tommolog
Tom Moloughney
tommolog's Avatar
United_States
44
Rep
243
Posts

Drives: 2018 i3s BEV
Join Date: Nov 2011
Location: New Jersey

iTrader: (0)

Quote:
Originally Posted by catpat8000 View Post
This isn't a direct contribution to the discussion but I read an amusing quote earlier today. Someone was pondering why they ought to buy an electric car and concluded it was basically like owning "an efficient car with a 2 gallon gas tank that takes 8 hours to fill".
Whomever made that quote doesn't understand the vehicle or the charging times.
__________________
Tom Moloughney
My BMW i3 Blog
Appreciate 0
      03-14-2014, 02:33 PM   #12
DarkstarZero
Lieutenant Colonel
DarkstarZero's Avatar
United_States
1014
Rep
1,719
Posts

Drives: Daytona 95 M3, X7 M50, e92 M3,
Join Date: Nov 2007
Location: Washington DC

iTrader: (6)

According to edmunds, last updated in October '13: http://www.edmunds.com/fuel-economy/...x-credits.html

"If a vehicle is being leased, the credit stays with the leasing company, which is the actual owner of the car or truck. In most cases, however, the tax credit has been factored into the cost of the lease, so the customer still benefits. Lease programs for the Chevrolet Volt and Nissan Leaf, for instance, include the $7,500 as a credit toward the down payment."

So BMW gets $7,500, gives the buyer $4,800, and pockets $2,700 as profit from US tax payers. That is downright wrong. Very unethical.
__________________
BMW CCA Track Instructor
Join to win a M School Day at the Performance Center!
Enter Referral ID: 420186
Appreciate 0
      03-15-2014, 12:34 AM   #13
MDIVISION
Major
United_States
272
Rep
1,178
Posts

Drives: 2015 M3
Join Date: Feb 2013
Location: Silicon Valley

iTrader: (1)

The i3 is not meant to compete with the likes of leaf. This is a special car made from carbon fiber light materials along with BMW technology and BMW feel. It's a pretty cool car and you will not see one at every corner.
__________________
2002 E46 M3 Coupe.. SOLD
2011 BMW 1M Coupe SOLD
2013 BMW M3 Coupe SOLD
2014 BMW 335i MPPK SOLD
2015 M3 SOLD
Appreciate 0
      03-15-2014, 03:43 PM   #14
tiburonh
Private First Class
United_States
7
Rep
172
Posts

Drives: 2014 i3 BEV, 2015 x3 diesel
Join Date: Oct 2013
Location: California

iTrader: (0)

Quote:
Originally Posted by eric9610 View Post
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.
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.
Appreciate 0
      03-15-2014, 05:57 PM   #15
MDIVISION
Major
United_States
272
Rep
1,178
Posts

Drives: 2015 M3
Join Date: Feb 2013
Location: Silicon Valley

iTrader: (1)

Yes. BMW just announced "FLEX" Lease on the i3.
Your payment will be around $480 but at the end of the lease, you have to give the $7500 back to BMW.
Or buy the car at end and keep the $7500.
__________________
2002 E46 M3 Coupe.. SOLD
2011 BMW 1M Coupe SOLD
2013 BMW M3 Coupe SOLD
2014 BMW 335i MPPK SOLD
2015 M3 SOLD
Appreciate 0
      03-16-2014, 10:23 AM   #16
hawkerdriver
First Lieutenant
United_States
50
Rep
312
Posts

Drives: 2016 M3
Join Date: Jul 2011
Location: Marina del Rey

iTrader: (1)

So the quote for a regular 36 month 10000 mile lease came to

Cap Cost $4875 "this is the federal tax credit portion"
MF .00125
Residual 46%

Incl TTL in California
$830 a month

My M3 is less then that.........
Until BMW starts believing in this car and give us a better residual value. Leasing is not the way to own this car.

I love the i3 and would like to have one, I personally am not comfortable buying it and not knowing what the market will do in 3 years.

Cheers
Appreciate 0
      03-16-2014, 04:30 PM   #17
tiburonh
Private First Class
United_States
7
Rep
172
Posts

Drives: 2014 i3 BEV, 2015 x3 diesel
Join Date: Oct 2013
Location: California

iTrader: (0)

Quote:
Originally Posted by hawkerdriver View Post
So the quote for a regular 36 month 10000 mile lease came to

Cap Cost $4875 "this is the federal tax credit portion"
MF .00125
Residual 46%

Incl TTL in California
$830 a month

My M3 is less then that.........
Until BMW starts believing in this car and give us a better residual value. Leasing is not the way to own this car.

I love the i3 and would like to have one, I personally am not comfortable buying it and not knowing what the market will do in 3 years.


Cheers
Hawker-

No denying that the car is expensive, but, for what it's worth, BMW's "owner
s choice" financing program for the i3 does provide a guarantee that BMW will take the car back at the end of three years. So at least your down side risk when purchasing is mitigated. And who knows, you could get lucky and the residual value at the end of three years actually ends up being higher than BMW's current lowball figure.
Appreciate 0
      03-19-2014, 12:11 PM   #18
hawkerdriver
First Lieutenant
United_States
50
Rep
312
Posts

Drives: 2016 M3
Join Date: Jul 2011
Location: Marina del Rey

iTrader: (1)

Thanks Tiburonh

I've send off for a quote using Flex, let's see what happens.

This might be the best way to go right now
Appreciate 0
      03-24-2014, 12:47 PM   #19
eric9610
Private First Class
9
Rep
153
Posts

Drives: 2020 Telsa Model YLR
Join Date: Dec 2012
Location: Newport Coast

iTrader: (0)

I was at an event and spoke with a BMW NA employee, who confirmed to me that the rates are going to get better. They have been working really hard to get a better residual and allow the whole $7,500 on lease. Unfortunately this car does compete with the leaf and focus based on price and performance. Honestly I thought the leaf drove a bit better than the i3. Also I noticed a horrible wind noise in the back set when driving at 55mph +.
__________________
2021 MYLR (c), 2016 MB E350 (c),2018 MB E300 (r), 2019 AMG GT63s 4D (r),2018 MB E63S (r), 2018 911T (r), 2014 X5M (r), 2013 X1 35i (r),2011 M3 (r), 2010 328i (r), 2008 M3 (r),2005 330ci (r), 2004 Lotus Elise (r), 2004 X3 (r),2002 330ci (r), 2002 Hummer (r), 2002 MB G500(r), 2000 Z8 (r), 2000 323cic (r)
Appreciate 0
      04-07-2014, 04:02 PM   #20
BarlasaM
Gravity Sucks.
BarlasaM's Avatar
United_States
172
Rep
213
Posts

Drives: BMW
Join Date: Oct 2012
Location: Ohio

iTrader: (0)

Here is what I understand about the Federal Tax Incentive.
First 2 words to remember Qualifies & Eligible.
The i3 qualifies for the "Federal TAX Credit" of up to $7500. Key word "Federal TAX Credit".
The rule is only and only the first person who buys ( first end user / owner )the car is eligible for this Tax credit.
Now this doesn't mean that every one gets the full $7500 amount. It depends on how much is your Tax Liability when you file your taxes. For Example if you owe $10,000 in Tax, and you bought the i3, you get the full $7500 credit, so now you owe $2500 in taxes. If you owe $5000 you get $5000 Tax incentive. Federal Government will not send you a check for the remaining balance.
Now in case of a Lease. The first owner of the car is BMW FS, so they get the Federal Tax Credit, but they give the client $4875 as a Lease Credit Rebate. Depending on the which state you live in, this Rebate may be Taxed.
Hope this make some sense.
Appreciate 0
      04-07-2014, 09:44 PM   #21
HF Integrale
Proffesional Amatuer
HF Integrale's Avatar
United_States
2
Rep
23
Posts

Drives: 2014 335i EB
Join Date: Oct 2013
Location: MD

iTrader: (0)

Quote:
Originally Posted by hawkerdriver View Post
Anyone know if BMW NA has released the lease rates on the i3?
Residuals were released today. 44% IIRC
__________________
2014 335i M-Sport
Appreciate 0
      04-08-2014, 01:24 AM   #22
tiburonh
Private First Class
United_States
7
Rep
172
Posts

Drives: 2014 i3 BEV, 2015 x3 diesel
Join Date: Oct 2013
Location: California

iTrader: (0)

Quote:
Originally Posted by HF Integrale View Post
Residuals were released today. 44% IIRC

44% for what? What term and what mileage?
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 02:56 PM.




bmw
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST