2015 BMW i3 Lease Questions

bobmcnugget

Inventory is starting to balance out I was told.. hence why my deal in feb wasnt as good as dec/jan.

Also I see my local dealers adding them as courtesy cars.

jmalojhu

Michaell said:

Michaell said:

jmalojhu said:

Hope this his explains a bit more. There is 6500 from the dealer plus 7500 federal rebate. 

What state is this?

Arizona. Thanks for your time, Michaell. 

It is my understanding that AZ taxes the monthly payment ... I don't understand why there is almost $4K of tax included in the contract.

Thanks, Bob and Michaell. Able to shed some light on these numbers?

zeusmontes

What is the MF and RV for a 15/16 with range extender 24/15, 30/15, 36/15 in Monterey, CA.

Thanks in advance

jmalojhu

jmalojhu said:

Michaell said:

Michaell said:

jmalojhu said:

Hope this his explains a bit more. There is 6500 from the dealer plus 7500 federal rebate. 

What state is this?

Arizona. Thanks for your time, Michaell. 

It is my understanding that AZ taxes the monthly payment ... I don't understand why there is almost $4K of tax included in the contract.

Thanks, Bob and Michaell. Able to shed some light on these numbers?

Ah, now I see. No discount from MSRP here. Buildout cash still available? Don't see that either. So should be able to work MSRP diem 11-15% prior to federal credit and build out. 

Michaell

zeusmontes said:

What is the MF and RV for a 15/16 with range extender 24/15, 30/15, 36/15 in Monterey, CA.

Thanks in advance

.00135 for both years

2015 residuals - 56% / 56% / 50%. $7500 lease credit

2016 residuals - 56% / 53% / 50%. $7500 lease credit

jmalojhu

Michaell,

After a bit more reading and consideration of your prior responses, I visited the dealer again and got the following:
MSRP: 55,345
Selling Price: 49,194 (includes 2,000 buildout)
Modified CC: 41694 (0 down)
Monthly payment: 394.88 (8.1% Tax and 0.00086 MF with 7SD)

Due at signing:
3,123.63 (777 lieu tax; 399 doc fee; 20.25 misc fees; 925 Acq Fee; Tax on CC reduction, and 1st month's payment)

2,800 security deposit

Are my payment calculations correct? Also, they are including the 2,000 buildout as part of their discount off MSRP, but it looks like others on this blog have been getting 11-15% off MSRP before buildout and tax credit. Lastly, is it typical to cover Acquisition fee at signing? They tried to build it onto my Cap Cost.

Thanks,

Josh

Michaell

jmalojhu said:

Michaell,

After a bit more reading and consideration of your prior responses, I visited the dealer again and got the following:
MSRP: 55,345
Selling Price: 49,194 (includes 2,000 buildout)
Modified CC: 41694 (0 down)
Monthly payment: 394.88 (8.1% Tax and 0.00086 MF with 7SD)

Due at signing:
3,123.63 (777 lieu tax; 399 doc fee; 20.25 misc fees; 925 Acq Fee; Tax on CC reduction, and 1st month's payment)

2,800 security deposit

Are my payment calculations correct? Also, they are including the 2,000 buildout as part of their discount off MSRP, but it looks like others on this blog have been getting 11-15% off MSRP before buildout and tax credit. Lastly, is it typical to cover Acquisition fee at signing? They tried to build it onto my Cap Cost.

Thanks,

Josh

My numbers match the dealers, to the penny.

Your choice to pay the acquisition fee up front or roll it into the cap cost.

jmalojhu

My dealer is telling me BMW wants acquisition fee rolled into cap cost and won't allow up front payment. Can anyone confirm this?

Michaell

jmalojhu said:

My dealer is telling me BMW wants acquisition fee rolled into cap cost and won't allow up front payment. Can anyone confirm this?

Your choice to pay the fees up front or not.

Reach out to another dealer and see if you get the same story.

kyfdx

jmalojhu said:

My dealer is telling me BMW wants acquisition fee rolled into cap cost and won't allow up front payment. Can anyone confirm this?

That is definitely not correct.

Though, that's the way I would do it.

jmalojhu

Thanks Michaell and kyfdx. Consumer Reports is showing average sales price of ~15% off MSRP. I've talked to 3 dealers in my area (aren't really any more) and can't get them to move higher than 11%. From the rest of this blog, 15% seems reasonable.

Michaell

jmalojhu said:

Thanks Michaell and kyfdx. Consumer Reports is showing average sales price of ~15% off MSRP. I've talked to 3 dealers in my area (aren't really any more) and can't get them to move higher than 11%. From the rest of this blog, 15% seems reasonable.

As inventory thins out, the advantage swings back to the dealer a bit.

bball69

What is the MF and RV for a 2015 battery only 30/15, 36/15 in Arizona and California.
Thanks in advance

kyfdx

bball69 said:

What is the MF and RV for a 2015 battery only 30/15, 36/15 in Arizona and California.
Thanks in advance

.00135 MF and 56%/50% residual. $7500 lease credit + $2000 buildout credit

guybrush

What is the MF and RV for a 2015 REx 30/10 and 24/10 in Oklahoma. Thanks

Michaell

guybrush said:

What is the MF and RV for a 2015 REx 30/10 and 24/10 in Oklahoma. Thanks

.00135 and 59% for either 24 or 30 month, 10K per year. $7500 lease credit.

jwdccmd

Great forum. Dreading a lease negotiation tomorrow for a 2015 i3 BEV in MD. Feel under informed. As far as I can tell, need to be focused on getting 7,500 credit + 2,000 build out credit from BMW (per BMWUSA), money factor of .00125. Not sure I see how the residual is treated. Is it a percentage of the MSRP or negotiated price? Looking at 36 mo lease. Any insights here would be appreciated.

Michaell

jwdccmd said:

Great forum. Dreading a lease negotiation tomorrow for a 2015 i3 BEV in MD. Feel under informed. As far as I can tell, need to be focused on getting 7,500 credit + 2,000 build out credit from BMW (per BMWUSA), money factor of .00125. Not sure I see how the residual is treated. Is it a percentage of the MSRP or negotiated price? Looking at 36 mo lease. Any insights here would be appreciated.

Current MF is .00135 this month.

30 months is the best term .. 56% for 15,000 miles per year.

I don't see the buildout credit any more on the i3.

Residual is against the MSRP - bottom line number of the factory window sticker.

jwdccmd

Thank you!

i3thei3

This thread has been an awesome resource as I work on a deal!

I'm getting the following offer:

30/10 2015 i3 REx, Tera, 20", tech+parking

MSRP 55345
Selling 46962.94 (15.15%)
MF: .00086 (March rate + MSD)
Residual 32653.55 59%
7500 Lease credit

Doc fee 369
Tags 310
Acquisition 925

0 down

Monthly 289 taxes included 30/10

Anything else I should be working towards? Is the buildout cash on the dealer side and are they including it in their price, or should it be listed separately? I don't want to ask on the chance that it isn't already included, and have them just say "yes it's already applied." If already included then their discount is only 11.5% plus the buildout cash. Should I be asking for another $2000 off of that? It looks like buildout is available through 3/31 (http://www.bmwusa.com/bmw/special-offers/lease/2015-BMW-i3/disclaimer) but I could be wrong on that.

There's also another $500 USAA discount I found out about that I'll be adding to the deal, but I found out about that after I got these numbers. Can that be applied directly to the upfront fees?

Michaell

i3thei3 said:

This thread has been an awesome resource as I work on a deal!

I'm getting the following offer:

30/10 2015 i3 REx, Tera, 20", tech+parking

MSRP 55345
Selling 46962.94 (15.15%)
MF: .00086 (March rate + MSD)
Residual 32653.55 59%
7500 Lease credit

Doc fee 369
Tags 310
Acquisition 925

0 down

Monthly 289 taxes included 30/10

Anything else I should be working towards? Is the buildout cash on the dealer side and are they including it in their price, or should it be listed separately? I don't want to ask on the chance that it isn't already included, and have them just say "yes it's already applied." If already included then their discount is only 11.5% plus the buildout cash. Should I be asking for another $2000 off of that? It looks like buildout is available through 3/31 (http://www.bmwusa.com/bmw/special-offers/lease/2015-BMW-i3/disclaimer) but I could be wrong on that.

There's also another $500 USAA discount I found out about that I'll be adding to the deal, but I found out about that after I got these numbers. Can that be applied directly to the upfront fees?

Looks pretty solid.

The $500 USAA incentive will reduce the pre-tax payment about $17/mo.

tifighter

Yeah that deal sounds pretty good. What part of the country are you in @i3thei3 ?

i3thei3

Thanks @Michaell ! @tifighter Northeast US, PA/NJ/DE is where I have been searching. Good amount of inventory around here, have only found one as fully loaded as this.

aardvark0

Any better MF and RV for a 2015 and 2016 Rex 30/10 in April?

Michaell

aardvark0 said:

Any better MF and RV for a 2015 and 2016 Rex 30/10 in April?

2015 - .00135 and 59% for 30/10

2016 - .00135 and 53% for 36/10

aardvark0

Thank you!

The standard web advertised lease from BMWFS for a 2015 rex msrp 47245 went from 299 for March to 259 for April, same $7500 lease cash, $2000 build out, and $3000 deposit, residual listed. Is there some other new incentive or is that just dealer contribution to lower the price?

Michaell

aardvark0 said:

Thank you!

The standard web advertised lease from BMWFS for a 2015 rex msrp 47245 went from 299 for March to 259 for April, same $7500 lease cash, $2000 build out, and $3000 deposit, residual listed. Is there some other new incentive or is that just dealer contribution to lower the price?

Probably a bigger contribution from the dealer.

harleyds

MF and RV for a 2015 and 2016 Rex for 24/12 , 24/15, 30/15 in Florida for April? Thank you!

kyfdx

harleyds said:

MF and RV for a 2015 and 2016 Rex for 24/12 , 24/15, 30/15 in Florida for April? Thank you!

2015: .00135 MF and 58%/56%/56% residual. $7500 lease credit. $2000 buildout credit.

2016: .00135 MF and 58%/56%/53% residual. $7500 lease credit. $1000 option allowance

car_nut9

Hi. Thanks for the great thread. The information here is essential.

I'm looking for a great deal on a 2015 REx in Florida but no dealers want to deal - most I'm finding is $500-$1000 (less than 2%) off MSRP. Any suggestion for Florida or Southeast dealers who will actually cut a deal to move a 2015?

Another question: I'm being told that best MF right now is .00175 even with highest credit score. How do I push them to give me the .00135 you quoted above?  Is that an i3-specific rate?

Thanks

Michaell

car_nut9 said:

Hi. Thanks for the great thread. The information here is essential.

I'm looking for a great deal on a 2015 REx in Florida but no dealers want to deal - most I'm finding is $500-$1000 (less than 2%) off MSRP. Any suggestion for Florida or Southeast dealers who will actually cut a deal to move a 2015?

Another question: I'm being told that best MF right now is .00175 even with highest credit score. How do I push them to give me the .00135 you quoted above?  Is that an i3-specific rate?

Thanks

Can't help you with pricing. My guess is that inventory is low enough that the dealers can play hard ball on the last remaining units.

MF on the i3 is .00135 .. might have to expand your search area to include Orlando, Jacksonville, Savannah or Mobile. Only takes one dealer to meet your numbers.

coastalt

Hi there - new i3 deal that I'd enjoy feedback on. Doesn't seem to be as much off MSRP as I'd hoped. It's a 2016 i3 REx, Giga, Tech, Parking, HK sound (deal sheet below):

Michaell

coastalt said:

Hi there - new i3 deal that I'd enjoy feedback on. Doesn't seem to be as much off MSRP as I'd hoped. It's a 2016 i3 REx, Giga, Tech, Parking, HK sound (deal sheet below):

I'm assuming this is for 30 months, 15,000 miles per year?

The calculations are correct.

Only way to improve on it is to negotiate a bigger discount from sticker (you're getting about $3800 off currently) or use MSD to buy down the MF.

kyfdx

@coastalt Don't see the MSRP. $54,900?

Michaell

kyfdx said:

@coastalt Don't see the MSRP. $54,900?

I get $54,895 ... take the residual amount and divide by the residual to calculate.

coastalt

Michaell said:

coastalt said:

Hi there - new i3 deal that I'd enjoy feedback on. Doesn't seem to be as much off MSRP as I'd hoped. It's a 2016 i3 REx, Giga, Tech, Parking, HK sound (deal sheet below):

I'm assuming this is for 30 months, 15,000 miles per year?

The calculations are correct.

Only way to improve on it is to negotiate a bigger discount from sticker (you're getting about $3800 off currently) or use MSD to buy down the MF.

Thanks for the response. Lease is 10k/yr, 36 mos. Sticker = $55,345

leasehunt

Great thread. I was looking for the April residual for a 2015 BEV, 12K/year, for 24/30/36 months, but I could not find it for that mileage. Can anyone help?

Thanks!

Michaell

leasehunt said:

Great thread. I was looking for the April residual for a 2015 BEV, 12K/year, for 24/30/36 months, but I could not find it for that mileage. Can anyone help?

Thanks!

.00135 and 58% / 58% / 52%. $7500 lease credit.

leasehunt

That was fast--thanks! Are the numbers any different for the REX?

Michaell

leasehunt said:

That was fast--thanks! Are the numbers any different for the REX?

No. 

genka

Can you please help me make sense out of the BMW lease worksheet? I'm trying to consolidate an offer for a 2016 i3 with a lease calculator I got from a BMW forum and modified from CA to MD terms.

The BMW sheet if full of numbers that I can't connect to anything else. What are "Amount Applied Upfront", "Customer Cash", "Upfront Charges", "Initial Payment" and so on? How do they calculate the Total Cap Reduction? In my calculator it is straightforward- sale price plus fees minus $7500. Their calculation is incomprehensible.

Michaell

genka said:

Can you please help me make sense out of the BMW lease worksheet? I'm trying to consolidate an offer for a 2016 i3 with a lease calculator I got from a BMW forum and modified from CA to MD terms.

The BMW sheet if full of numbers that I can't connect to anything else. What are "Amount Applied Upfront", "Customer Cash", "Upfront Charges", "Initial Payment" and so on? How do they calculate the Total Cap Reduction? In my calculator it is straightforward- sale price plus fees minus $7500. Their calculation is incomprehensible.

I've created a 2016 i3 discussion here:

http://forums.edmunds.com/discussion/40506/bmw/i3/2016-bmw-i3-lease-questions?new=1

sirihini

My local dealer MD dealer has multiple 2015 i3 sitting there on the lot, I assume for a while. What are the chances of getting a deal like the one described at the end of this NYTimes article? Any idea what deal the author is referring to for a 24mo lease on an i3 for $163/mo?

http://www.nytimes.com/2016/04/15/automobiles/wheels/automakers-revisit-tactics-that-hurt-them-before-recession.html?_r=0

kyfdx

sirihini said:

My local dealer MD dealer has multiple 2015 i3 sitting there on the lot, I assume for a while. What are the chances of getting a deal like the one described at the end of this NYTimes article? Any idea what deal the author is referring to for a 24mo lease on an i3 for $163/mo?

http://www.nytimes.com/2016/04/15/automobiles/wheels/automakers-revisit-tactics-that-hurt-them-before-recession.html?_r=0

No idea... seriously lacking in details.

sirihini

kyfdx said:

No idea... seriously lacking in details.

Right. Well, it says hat I assume is a cap cost of 32,000 after unspecified discounts. No deposit. 24mo term, and a 163 per month price, I assume before any tax. Given that cap cost and monthly, how does the residual and money factor even work for that. I have used calculators and the money factors in this thread, but I can't get close to that number. Maybe buying down the MF with lots of security deposits?

kyfdx

sirihini said:

kyfdx said:

No idea... seriously lacking in details.

Right. Well, it says hat I assume is a cap cost of 32,000 after unspecified discounts. No deposit. 24mo term, and a 163 per month price, I assume before any tax. Given that cap cost and monthly, how does the residual and money factor even work for that. I have used calculators and the money factors in this thread, but I can't get close to that number. Maybe buying down the MF with lots of security deposits?

There are literally no details given... Right now, it's just a "story"

leasehunt

I'm looking to lease an i3 closer to August. Does history tell us anything about how long BMW Financial will continue lease support options for the 2015's?

Michaell

leasehunt said:

I'm looking to lease an i3 closer to August. Does history tell us anything about how long BMW Financial will continue lease support options for the 2015's?

Magic 8-ball is in the shop. Support could end at the end of any month. Depends on inventory, I suppose.

harigin

I am looking to a 2015 i3 Range extender in Virginia, Can you please give the MF/Residual for a 24 month 10k miles lease. Thank you.

Michaell

harigin said:

I am looking to a 2015 i3 Range extender in Virginia, Can you please give the MF/Residual for a 24 month 10k miles lease. Thank you.

.00135 and 59%. $7500 lease credit.