[tommolog]

I did a post on this last week on my i3 blog, here is the financing table from BMW FS:

[hawkerdriver]

Thanks Tommolog.

I've decided to give up my #2 spot and wait for a bit.

[jadnashuanh]

Battery technology will continue to evolve. How fast they can make reliable ones with a denser power storage is still up in the air. There has been some development on higher density and faster recharge using nanotechnology, but it hasn't made it out of the labs yet.

The question you have to ask yourself is: will the car meet my current needs. Just like in computers, the next model will be more capable, and the i3's successor will probably be as well. There are lots of places still using Windows XP and ancient processors. The i3 may look that way in a couple of years, but if it still provides what you need and expect, there's no reason to trash it and buy another...many people do, as the desire for the newest, greatest is endemic to our souls. It's not very good for our economic health, though!

[hawkerdriver]

I still love this car and believe in it's place in the line up.

The residuals are very cautious on BMW's part. They know the technology will change very rapid in the coming years.

Their accountants aren't dumb and they don't want to get stuck with a bunch of financially upside down i3's.

And wait

[DarkstarZero]

The current lease offer on the Chevy Volt is $269/month because they put the full $7500 tax credit towards the lease instead of pocketing 35% of it like BMW is doing.

I'd rather have an i3 instead of a Volt but there's no way I'm going to pay over 100% more per month for it. The volt is a decent car that's cheap to run and costs less than my Verizon bill.

I haven't bought anything other than BMWs for the last 10 years but I just can't bring myself to pay more than double for the i3. And the fact that BMW is pocketing 35% of the rebate when no one else is just really upsets me, I thought they were better than that.

[cblandin]

Originally Posted by DarkstarZero

The current lease offer on the Chevy Volt is $269/month because they put the full $7500 tax credit towards the lease instead of pocketing 35% of it like BMW is doing.

I'd rather have an i3 instead of a Volt but there's no way I'm going to pay over 100% more per month for it. The volt is a decent car that's cheap to run and costs less than my Verizon bill.

I haven't bought anything other than BMWs for the last 10 years but I just can't bring myself to pay more than double for the i3. And the fact that BMW is pocketing 35% of the rebate when no one else is just really upsets me, I thought they were better than that.

I am having a similar dilemma. I have 16 months left on my Volt's lease and would really like an i3 when the lease is up, BUT the i3 premium (even for OCF) is pretty dang steep. Honestly, I may just get another Volt (2.0 will actually be out then too), and hold out for either the Tesla Model E or even a used Model S. My i3 test drive is next Saturday...I have a bad feeling I won't be swayed in either direction afterwards.

[boulderado]

Originally Posted by tommolog

I did a post on this last week on my i3 blog, here is the financing table from BMW FS:

I actually did a quick math on these lease numbers (24 months/15k miles) and it is not as bad as it seems if you are living in a state with some decent tax credit.

For example I live in Colorado, where there is a $6000 state tax credit on top of the $7500 federal credit. Let's just say I am going for a Giga Rex with Tech package. My out of door price would be $50k, a nice round number. With max MSDs and zero down the total amount to be paid $24,876 before tax.

1) Assuming that BMW would let me have the tax credits for the EV then $13,500 would come out from this amount ($11,377) and if I divide that by 24 my pre-tax monthly payment comes at $474. Factoring in the savings coming from the gas money (in my case would be around $175/month) the loaded i3 Rex comes at around $300/month, which I think is a very reasonable number.

2) Of course if BMW claims the tax credits and just uses it for MSRP reduction then the monthly payments skyrocket to $767 in the worst case scenario.

3) If however, BMW were to calculate the residual based on MSRP (not the discounted price with the tax credits) then the monthly payment stays around $485.

If anyone knows which of the three scenarios above is the case (I fear it might be #2 aka the worst case scenario) please feel free to chime in.

[DarkstarZero]

lucky you, there's no state credit in Virginia

[eric9610]

Originally Posted by boulderado

I actually did a quick math on these lease numbers (24 months/15k miles) and it is not as bad as it seems if you are living in a state with some decent tax credit.

For example I live in Colorado, where there is a $6000 state tax credit on top of the $7500 federal credit. Let's just say I am going for a Giga Rex with Tech package. My out of door price would be $50k, a nice round number. With max MSDs and zero down the total amount to be paid $24,876 before tax.

1) Assuming that BMW would let me have the tax credits for the EV then $13,500 would come out from this amount ($11,377) and if I divide that by 24 my pre-tax monthly payment comes at $474. Factoring in the savings coming from the gas money (in my case would be around $175/month) the loaded i3 Rex comes at around $300/month, which I think is a very reasonable number.

2) Of course if BMW claims the tax credits and just uses it for MSRP reduction then the monthly payments skyrocket to $767 in the worst case scenario.

3) If however, BMW were to calculate the residual based on MSRP (not the discounted price with the tax credits) then the monthly payment stays around $485.

If anyone knows which of the three scenarios above is the case (I fear it might be #2 aka the worst case scenario) please feel free to chime in.

BMW is claiming a portion of the credit for them self and giving you a portion to discount the car on lease. You will only get $4500 of the $7500 applied for cap reduction the other $3k goes right in BMW'S pocket for designing a the car. you will pay $700.00 plus tax to lease this car and you will still have to put an additional $4,500 at signing to get close to that rate.

Wait 8 months until BMW has too much inventory, they wont be able discount them fast enough.

[jadnashuanh]

The federal tax credit goes to the buyer of the car...you do not own the car when you lease it. How the seller handles that transaction is entirely up to them. I do not know if the full tax credit is available to the leasing corporation - it is when directly purchased by an individual.

[eric9610]

Originally Posted by jadnashuanh

The federal tax credit goes to the buyer of the car...you do not own the car when you lease it. How the seller handles that transaction is entirely up to them. I do not know if the full tax credit is available to the leasing corporation - it is when directly purchased by an individual.

BMW FS has made it clear that if you lease the car from them you are not getting the full $7,500 put towards the car. The only way you get the full $7,500 is when purchasing the car not leasing it. BMW knows in 3 years they are going to be stuck with all the lease returned cars, this is a pay to play game. If you want the car and are comfortable knowing this going in it makes sense. For most people this is a really bad deal. BMW is also trying to capitalize on the people who want to have the car as a status symbol.

[boulderado]

Originally Posted by eric9610

BMW FS has made it clear that if you lease the car from them you are not getting the full $7,500 put towards the car. The only way you get the full $7,500 is when purchasing the car not leasing it. BMW knows in 3 years they are going to be stuck with all the lease returned cars, this is a pay to play game. If you want the car and are comfortable knowing this going in it makes sense. For most people this is a really bad deal. BMW is also trying to capitalize on the people who want to have the car as a status symbol.

If the only way to get the full amount for federal and state tax credit is to own the car then lease doesn't make much sense. BMW FS charges a relatively high APR too, so buying the car with a bank's auto loan would also help to save some money on interest. For 48 months Chase charges 1.98% while BMW FS wants 2.99%.

[chrisny]

Originally Posted by eric9610

+1

I am in for $350 a month not a dime more since comparable vehicles can be had for that price.

+1. I would get one as a toy or if I needed a commuter car. $700 a month? No thanks. I only pay 640 for my 335 and our X5 is 700! Why would anyone pay 700 a month for a go cart?

[eric9610]

Originally Posted by chrisny

+1. I would get one as a toy or if I needed a commuter car. $700 a month? No thanks. I only pay 640 for my 335 and our X5 is 700! Why would anyone pay 700 a month for a go cart?

+1 our you could get a tesla, Porsche, the list can go on.....

[M3_WC]

Originally Posted by DarkstarZero

The current lease offer on the Chevy Volt is $269/month because they put the full $7500 tax credit towards the lease instead of pocketing 35% of it like BMW is doing.

I'd rather have an i3 instead of a Volt but there's no way I'm going to pay over 100% more per month for it. The volt is a decent car that's cheap to run and costs less than my Verizon bill.

I haven't bought anything other than BMWs for the last 10 years but I just can't bring myself to pay more than double for the i3. And the fact that BMW is pocketing 35% of the rebate when no one else is just really upsets me, I thought they were better than that.

$269, that is cheap.

I am going to go check out a Volt soon, after seeing Chris Harris's video review. Matt Farrah did a review on one, he liked it so much he got one himself.

[eric9610]

Ford is giving you $11,000 ($7,500 tax credit and 3,500ford cash) towards the lease of the focus all electric. With $0 out of pocket, 36 months, 15k miles per year, you are at $330ish with tax in California. If you subtract the $2,500 state cash credit you end up paying $260per month.

BMW needs to get its act together and be competitive with its rates.

[cblandin]

Basically, Chevy, Ford, etc. are all offering "deals" on their EVs - Tesla isn't and BMW isn't. Tesla brought an uber sedan rocket to the table with a giant battery. BMW is bringing, well, the i3...a car that isn't as compelling as a lot of us had hoped. Unlike the Model S, it may not end up with buyers standing in line to give them a pile of cash. Too soon to tell though. Certainly the lease and OCF aren't that great and it all comes down to the residuals. As an aside, when I look at some of my Volt lease paperwork it almost looks like Ally might have only gotten $5K of the $7500, BUT the overall residual is really high on my Volt (like 62% high) which kills compared to what BMW is doing.

[tooch]

your always gonna pay a premium to own a bmw.

[2045]

Originally Posted by tooch

your always gonna pay a premium to own a bmw.

True.

so down to personal preference & financial goal. i gave up my 3rd spot on i3 too & got a Fiat 500e instead. the deal is $1,000 down 36 month lease with $220 monthly payment. with additional CA rebate of $2,500 i pretty much drive it for free for the 1st year. it makes total sense financially since i spend $400+ on gas bill every month. the electric car is just an additional toy for us. when i saw the current i3 offer i pretty much gave up the idea getting it & decided to wait it out. it's no question i want the i3 more than what i have now but the additional cost just made no sense to me as a ''toy car.''

i hope BMW rolls out better program to support the i3 in the near future. my prediction is it's gonna happen sooner than later because dealers would have a lot of i3 sitting in the lot once the hype is out. i'm betting on it so i can get one to replace the 500e later. i can justify if the payment is like $500. but the car i ordered the payment is like $800 now.

[2045]

Originally Posted by catpat8000

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?

my sales guy told me the same thing. def makes sense to buy it just to take advantage of the credit. however, the risk of owning the first year BMW electric car is also very high. maybe it's not a good idea to own it out right.

[Kevin_Genius@BMWMtLaurel]

FYI


http://www.bmwusa.com/standard/conte...regiontypeid=4

[M3WC]

^
The fact that BMW is already giving that large of a lease credit is kinda sad. The i3's at the 4 local dealers near me are not selling. They are sitting on lots.

If someone is interested, wait even longer. BMW will put an even larger lease credit towards the end of year. There will be plenty on lots to choose from and inventory will need to be moved.