2015 BMW i3 Lease Questions

uncle_jack

Interesting... the dealer in Houston, TX told me the residual in December is 61% (drop by 2% comparing to 63% in November & October) for a lease of 24 months/10K miles per year.
The dealer also quoted me 4.3% interest rate. I think this is a markup. Anyone know what the interest rate for December?

uncle_jack

I also notice BMW Financial Service is just playing around with the numbers without giving any additional discount as it reached year end... They give you an additional $1000 cash, but take away 2% residual. When I plugged all the numbers into the formula, the total monthly payment turned out the same!

So, folks, don't be fooled by the $2000 Happier Holiday Event incentive in December (They give you $2000 more, but they decrease the residual value to 51% to balance out the $2000 incentive, and ALSO increase the lease term to 3-year). When I plugged in the numbers, it turned out to be WORSE than the October and November deals. Basically, you will end up with the same total monthly payment as November offer, but you will be locked into a 3-year contract, instead of 2-year contract. They are so sneaky !

Michaell

pennystock said:

Thanks Michaell and apologize if I'm mistaken but 30/10k residual did drop for Dec? It was 59% in Nov but I see it's 57%? (54%+3%) or am I not reading this right?

30/10 for November was 58%, so it did drop 1% in December

I was poking around Southern California dealers and one dealer said 30/10k residual is 56% and another dealer in Irvine saying 59%..I guess, I'll go with 59%~
I know they can mark up the MF but not the residual right?

The residual is set by BMWFS and cannot be altered by the dealer.

Michaell

uncle_jack said:

Interesting... the dealer in Houston, TX told me the residual in December is 61% (drop by 2% comparing to 63% in November & October) for a lease of 24 months/10K miles per year.
The dealer also quoted me 4.3% interest rate. I think this is a markup. Anyone know what the interest rate for December?

MF did not change for December, still .00131 (3.14%). This can be marked up a max of .00040

uncle_jack

I like to share this info with folks out there who want to maximize your savings and to help you avoid any BS from sales/dealership... Today, Austin, TX dealer just offered me a deal for the 2015 BMW i3 with Range Extender model, which I think is ridiculous, and also threw me some BS stuff...i.e. $0 sale tax... After plugging in the numbers that they provided me, it's not possible to have $0 sale tax to have $480/month (which is ridiculously high, by the way!); if $0 sale tax is truly available, it would be $370/month instead.

- MSRP: 54895.00
- Residual Rate: 61.0%
- Residual Value: 33485.95

- Discount -5900.00 (RED FLAG: Edmund True Market Price is $7600 off MSRP)
- Agree Upon Price: 48995.00 (RED FLAG: over TMP)
- Sales Tax in Texas (6.25%): 2531.25 (RED FLAG: Not possible to have $0 sale tax in order to produce $480/month. If truly $0 sale tax, monthly payment would be $370 instead).
- Title, Reg, Inspection Fees ($33, $50, $17): 100.00
- Documentary & Misc Fees: 200.00 (NOTE: Not required by law; but dealer can use as profit).
- Gross Cap Cost: 51826.25

- Cap Reduction Cost 1 (tax credit): -7500.00 (NOTE: available nationwide)
- Cap Reduction Cost 2 (Happier Holiday Adder incentive available nationwide): 0.00 (RED FLAG: dealer purposely excluded the $2000 Happier Holiday Adder incentive).
- Cap Reduction Cost 3 (down payment): -840.00 (RED FLAG: dealer purposely included a down payment of $840 in the total $4800 due at signing, which I explicitly requested for $0 down).
- Net Cap Cost: 43486.25

- Depreciation Value: 10000.30
- Lease Term (months): 24
- Monthly Depreciation: 416.68

- MSD (Multiple Security Deposit): 7
- Security Deposit: 3500 (part of the $4800 due at signing)
- Money Factor 1 (MSD mark-down: 0.00007 x MSD): -0.000490
- Money Factor 2 (base): 0.001310
- Money Factor 3 (dealer mark-up): 0.000000
- Total Money Factor: 0.000820
- Interest Rate (%): 2.0%
- Monthly Interest: 63.12

FINAL MONTHLY PAYMENT: 480 (RED FLAG: way too high! roughly $4000 over charge through out the entire 24-month lease!).

uncle_jack

Michaell, can you help confirm the Residual Rate for BMW i3 for 24-month, 10K/year?

Another dealer in Austin TX told me it's 59% vs the one in Houston TX told me it's 61%. which one is officially correct?

kyfdx

uncle_jack said:

Michaell, can you help confirm the Residual Rate for BMW i3 for 24-month, 10K/year?

Another dealer in Austin TX told me it's 59% vs the one in Houston TX told me it's 61%. which one is officially correct?

It's 59%.. I wonder if the quote was from November?

The best deal this month is on the 30 month lease. 57% residual

jpa2825

Just a quick link to a 30/10 lease offer from a dealer in Cleveland. You would think with 7 MSDs you could improve this deal.

http://www.bmwofwestlake.com/specials/index.htm?category=i3 Lease Specials

jpa2825

This board seems to have ground to a halt. Did the new residuals more than cancel out the $2k Happy Holiday Adder bonus and stop all deals in their tracks?

Michaell

jpa2825 said:

This board seems to have ground to a halt. Did the new residuals more than cancel out the $2k Happy Holiday Adder bonus and stop all deals in their tracks?

Certainly looks that way.

pennystock

Michaell,

Could you help verify the monthly numbers are accurate?
$1,200 is used for 1st pmt and other fees and not twd cap cost.

Using my own calculator I'm getting $183 + tax so wonder if there is the tax for the credit being added here.

Regardless a great deal...

thank you

2015 BMW i3
MSRP: 45,895
Selling Price: 38,200
Lease Credit: 7,500
30 month lease
12,000 miles per year
Residual: 58% (26,619.10)
Down Payment: 1,200
MSD (7): 1,750
Total Due at Signing: 2,950
Money Factor (OAC): .00082
Monthly Payment: 218.14 + tax
Total Monthly Payment: 235.59 (includes 8% tax rate)

kyfdx

pennystock said:

Michaell,

Could you help verify the monthly numbers are accurate?
$1,200 is used for 1st pmt and other fees and not twd cap cost.

Using my own calculator I'm getting $183 + tax so wonder if there is the tax for the credit being added here.

Regardless a great deal...

thank you

2015 BMW i3
MSRP: 45,895
Selling Price: 38,200
Lease Credit: 7,500
30 month lease
12,000 miles per year
Residual: 58% (26,619.10)
Down Payment: 1,200
MSD (7): 1,750
Total Due at Signing: 2,950
Money Factor (OAC): .00082
Monthly Payment: 218.14 + tax
Total Monthly Payment: 235.59 (includes 8% tax rate)

$925 acquisition fee + tax on credit and acq.fee (about $675).

That's $1550 + 1st payment ($235), title/registration/dealer fees ($500?)

That's about $1300 more than the $1200 you are putting upfront. That would take it up to $227/mo.+tax, so I might have over-estimated the title fees.

Ask for the NET CAP cost and what it includes, besides the selling price minus the rebate.

jpa2825

pennystock said:

Michaell,

Could you help verify the monthly numbers are accurate?
$1,200 is used for 1st pmt and other fees and not twd cap cost.

Using my own calculator I'm getting $183 + tax so wonder if there is the tax for the credit being added here.

Regardless a great deal...

thank you

2015 BMW i3
MSRP: 45,895
Selling Price: 38,200
Lease Credit: 7,500
30 month lease
12,000 miles per year
Residual: 58% (26,619.10)
Down Payment: 1,200
MSD (7): 1,750
Total Due at Signing: 2,950
Money Factor (OAC): .00082
Monthly Payment: 218.14 + tax
Total Monthly Payment: 235.59 (includes 8% tax rate)

Shouldn't the 30/12k residual be 56% rather than 58%? 58% is the 24/12k residual for DEC, I think. Also, where is the Happy Holiday Adder? Did they take it off the Selling Price to get to $38.2k? If so, I think that is better for you since you don't pay tax on it there whereas you do if it is treated as a rebate.

Michaell

jpa2825 said:

pennystock said:

Michaell,

Could you help verify the monthly numbers are accurate?
$1,200 is used for 1st pmt and other fees and not twd cap cost.

Using my own calculator I'm getting $183 + tax so wonder if there is the tax for the credit being added here.

Regardless a great deal...

thank you

2015 BMW i3
MSRP: 45,895
Selling Price: 38,200
Lease Credit: 7,500
30 month lease
12,000 miles per year
Residual: 58% (26,619.10)
Down Payment: 1,200
MSD (7): 1,750
Total Due at Signing: 2,950
Money Factor (OAC): .00082
Monthly Payment: 218.14 + tax
Total Monthly Payment: 235.59 (includes 8% tax rate)

Shouldn't the 30/12k residual be 56% rather than 58%? 58% is the 24/12k residual for DEC, I think. Also, where is the Happy Holiday Adder? Did they take it off the Selling Price to get to $38.2k? If so, I think that is better for you since you don't pay tax on it there whereas you do if it is treated as a rebate.

The 30/12 residual is indeed 56% this month. It's possible the $2000 HHA is reflected in the discount from sticker - before the lease credit is applied.

pennystock

Selling price includes the $2,000 adder. 
I've getting $5500+ off the msrp without haggling before the adder. On a msrp around $45,xxxx

5 dealers that I got quotes for all confirmed 30/10= 59% and 30/12 = 58%. Not sure if I should be concerned about this.. I mean 5 dealers can't be all wrong...
And also different MSDs. For 7 MSD, some quoted 2450 and some 1750.

Michaell

pennystock said:

Selling price includes the $2,000 adder. 
I've getting $5500+ off the msrp without haggling before the adder. On a msrp around $45,xxxx

5 dealers that I got quotes for all confirmed 30/10= 59% and 30/12 = 58%. Not sure if I should be concerned about this.. I mean 5 dealers can't be all wrong...
And also different MSDs. For 7 MSD, some quoted 2450 and some 1750.

The MSD amount varies based on the size of the payment .. MSD is rounded up to the next highest $50.

No idea why the residual amount is different than our docs ... unless there has been a mid-month update that we didn't get.

kyfdx

pennystock said:

Selling price includes the $2,000 adder. 
I've getting $5500+ off the msrp without haggling before the adder. On a msrp around $45,xxxx

5 dealers that I got quotes for all confirmed 30/10= 59% and 30/12 = 58%. Not sure if I should be concerned about this.. I mean 5 dealers can't be all wrong...
And also different MSDs. For 7 MSD, some quoted 2450 and some 1750.

West Coast has a different residual for 30 months. And, it is 2% higher. Probably in response to the special rebate in California that requires a 30 month lease. It's pretty rare to see different residuals in different regions, but in this case, that's what it is.

enekaken

Here's my deal for comparison

Arvvani greyx rex, giga, 20", parking, and driving assistant
MSRP $53,545

Selling price is $47,960 (11% off msrp)
-Happier Holiday $2,000

=$45,960

Residual is still the same this month at 59% 30 month/10k( I am in CA)

$31951.55

$7,500 federal rebate
$1,000 college grad
$1,000 UDE
=$9,500 cap. reduction

$2,383.46 (taxes, registration and fees)
$1,750 (7 Security deposits@$250/each)
$237.71 first payment

$4,371.28 due at signing.

so $237.71*29 =$6,893.59+$4,371.28=

$11,264.87-$1,750(security dep)-$2,500(CA rebate)

=$7,014.87 total cost of lease after 30 months.

I probably could've gotten another $1k off the msrp but I was content with the deal, didn't even really haggle at all.

oc_alan

Any recommended i3 dealers in Orange County, CA that won't rip me off? I'm willing to go to LA or IE because I haven't found good deals in OC before.

pennystock

oc_alan said:

Any recommended i3 dealers in Orange County, CA that won't rip me off? I'm willing to go to LA or IE because I haven't found good deals in OC before.

Hello OC alan,

My neighbor did a solid research in all OC,IE and he drove 30 miles  out of the way from irvine to Murrieta. They had the best deal and he closed the deal that evening.
I'm work with dealers in Irvine, Santa Ana, Buena Park, long beach and all of their numbers were similar.  $5000 on base and $6000 on Rex before the Holiday adder. I'm sure more discount on loaded Rex. 

lepe1

Hello,
Thank you Edmunds.com for having this forum. It has been of great help for me, and I am sure for many others.

I have been offered, after several days of negotiating with the sales manager, a $6100 discount for a Rex i3, msrp $51,200 (12% discount). I live in Massachusetts and wanted to know if this is a great discount or if I should push for a little bit more. I am leasing the car for 36 months, 15K/year. MF 0.00131 and RV 50%.

Thank you!

kyfdx

lepe1 said:

Hello,
Thank you Edmunds.com for having this forum. It has been of great help for me, and I am sure for many others.

I have been offered, after several days of negotiating with the sales manager, a $6100 discount for a Rex i3, msrp $51,200 (12% discount). I live in Massachusetts and wanted to know if this is a great discount or if I should push for a little bit more. I am leasing the car for 36 months, 15K/year. MF 0.00131 and RV 50%.

Thank you!

Does the $6100 include the $2000 Happier Holiday incentive? Or, do you get that on top of the $6100?

lepe1

I will get $2000 on top of the $6100.
Thank you

meepmeepie

hi everyone. Thanks for the detailed help and numbers! Does anyone have a contact for a dealer willing to go 15% off MSRP on the west coast? I'm okay shipping it to me.

duckm4n

meepmeepie said:

hi everyone. Thanks for the detailed help and numbers! Does anyone have a contact for a dealer willing to go 15% off MSRP on the west coast? I'm okay shipping it to me.

Interested in the same here. Does the west coast residual apply if the car gets shipped and registered in VA? Thanks in advance. 

kyfdx

duckm4n said:

meepmeepie said:

hi everyone. Thanks for the detailed help and numbers! Does anyone have a contact for a dealer willing to go 15% off MSRP on the west coast? I'm okay shipping it to me.

Interested in the same here. Does the west coast residual apply if the car gets shipped and registered in VA? Thanks in advance. 

No... on a lease, the numbers are based on where the car is registered.

Doubtful if any of the $1000 would be left, by the time you paid to ship it, so no real point.

kyfdx

lepe1 said:

I will get $2000 on top of the $6100.
Thank you

Looks like a pretty good discount.

lepe1

Thank you!
We signed the papers and got the car today.
When we signed the lease, the car was supposed to have 10 miles according to the contract, but when we were about to leave the dealer, the odometer was showing 280 miles. I also found a deep scratch on a small lower panel located just before the front wheels. They told me that they could fix it, but when I asked them about the mileage discrepancy they apologized and just told me that their cars would sometimes be used for test driving. I explained to them that I could understand if the car had 30-50 miles, but that 280 miles seemed a lot.

We generally lease cars and changed them often and have never received a "new" car with that kind of mileage. Between 10 and 50 miles has been our experience.
I am wondering if this is normal. Any help would be greatly appreciated.
Thanks

Michaell

lepe1 said:

Thank you!
We signed the papers and got the car today.
When we signed the lease, the car was supposed to have 10 miles according to the contract, but when we were about to leave the dealer, the odometer was showing 280 miles. I also found a deep scratch on a small lower panel located just before the front wheels. They told me that they could fix it, but when I asked them about the mileage discrepancy they apologized and just told me that their cars would sometimes be used for test driving. I explained to them that I could understand if the car had 30-50 miles, but that 280 miles seemed a lot.

We generally lease cars and changed them often and have never received a "new" car with that kind of mileage. Between 10 and 50 miles has been our experience.
I am wondering if this is normal. Any help would be greatly appreciated.
Thanks

I don't think there is too much of a difference between 50 miles and 300 miles, in my opinion.

However, I would check the VIN #'s on the contract and the car to see if they match. Could be they gave you the wrong car. I've seen it happen before.

lepe1

Thank you. I was doing a little more research and apparently it is not uncommon to get a new car with that kind of mileage.
This forum helped me a lot in the negotiation.
Thank you very much!

Michaell

lepe1 said:

Thank you. I was doing a little more research and apparently it is not uncommon to get a new car with that kind of mileage.
This forum helped me a lot in the negotiation.
Thank you very much!

Enjoy the new BMW!

mnet001

Hi everyone, Wondering if someone could advise on the MF for WA? Dealer I'm working with is telling me it's 0.00165 for the i3 REX. I thought the MF was 0.00131.

Thanks!

Michaell

mnet001 said:

Hi everyone, Wondering if someone could advise on the MF for WA? Dealer I'm working with is telling me it's 0.00165 for the i3 REX. I thought the MF was 0.00131.

Thanks!

Base MF is indeed .00131, but dealer can mark it up for extra profit. Politely but firmly tell them you won't sign a deal with an inflated MF.

mnet001

Thank you Michaell!

I questioned the CA when he originally stated .00170

Got to 9.5% off MSRP, trying for >10%.

anon7623

I was wondering if anyone had time to check these numbers for me and see if it's a decent deal? 
30mo/10K 
i3 with Rex

MSRP: $48,245

Selling at: $42,450

Acquisition Fee: $925 Doc Fee: $80

DMV reg: $357

Customer Cash including Security Deposits) $5,260

Security Deposit: $1,750 

Rebate (Lease Credit From BMW): $7500

Residual: .59

MF .00082 

Month Payment:  $249.02

thabk you guys so much for your time

stp5

If I am reading this right, you are making a down payment of $3,510 (outside the MSD). That is generally considered a bad idea with a lease. If the car is stolen or totaled you will not get that money back. "No money down" is usually the preferred way to lease. It's also misleading as your monthly payment is not actually $249--It's more like $395.

anon7623

I apologize I omitted that down payment is me fronting at $2500 California refund and it includes my acquisition fee, registration and tax.

I believe my monthly payment also includes tax already to end up at 249.02. 

Thank you guys

Michaell

anon7623 said:

I apologize I omitted that down payment is me fronting at $2500 California refund and it includes my acquisition fee, registration and tax.

I believe my monthly payment also includes tax already to end up at 249.02. 

Thank you guys

What is the net cap cost? If I subtract the $7500 from the quoted selling price and assume that all the fees are paid up front, I get $268/mo + tax.

anon7623

I'm sorry, I'm not sure what the net cap cost is, this was what I wrote down from my conversation with the dealer. It was my understanding that my total monthly would be the 249 including tax already.

Michaell

anon7623 said:

I'm sorry, I'm not sure what the net cap cost is, this was what I wrote down from my conversation with the dealer. It was my understanding that my total monthly would be the 249 including tax already.

Looks good, compared to my calculations. Just want to make sure that you don't get surprised when you get to the dealer.

anon7623

Thank you so much Michaell, I appreciate your time.

stardestroyer

Can someone please weigh in on this? I don't think I am being offered a good deal at -$2k off MSRP! I am in PA. Heading to a different dealership this morning to try again, but this is so far off of what the rest of you (and KBB/Edmunds) are reporting that I am wondering if things are different on the West coast?



The scribbled numbers are $7k, $3.5k, $3.5k- I talked them into coming up $500 to $7000 on my trade, but I still don't want to put more than $3.5k down.

Michaell

stardestroyer said:

Can someone please weigh in on this? I don't think I am being offered a good deal at -$2k off MSRP! I am in PA. Heading to a different dealership this morning to try again, but this is so far off of what the rest of you (and KBB/Edmunds) are reporting that I am wondering if things are different on the West coast?



The scribbled numbers are $7k, $3.5k, $3.5k- I talked them into coming up $500 to $7000 on my trade, but I still don't want to put more than $3.5k down.

Read back through the last page or two of this thread to see what others have been able to negotiate.

How is the trade equity being applied? We do not recommend it be used as down payment (cap cost reduction) - that money is at risk if the car is stolen or totaled.

stardestroyer

Thanks for the reply, Michaell. I did read through the thread (focusing on the December posts,) but I am still confused as to why -$3k (before incentives) is the final offer from two dealers now when everyone else seems to be getting -$5k before the happy holiday adder. I went to another across town this morning and they offered $100 off of this offer and .00131 MF, but that was it! I was wondering if I am just missing something... This is my first lease ever, and I think I'm understanding it better now, and I didn't expect the selling price to be the thing that threw me for a loop. I am able to get them to go as low as what is required at signing, so I might do that and then put the cash into a savings account where I apply it to the payment every month (if I can find a deal I feel comfortable with before the happy holiday adder expires!)

Michaell

stardestroyer said:

Thanks for the reply, Michaell. I did read through the thread (focusing on the December posts,) but I am still confused as to why -$3k (before incentives) is the final offer from two dealers now when everyone else seems to be getting -$5k before the happy holiday adder. I went to another across town this morning and they offered $100 off of this offer and .00131 MF, but that was it! I was wondering if I am just missing something... This is my first lease ever, and I think I'm understanding it better now, and I didn't expect the selling price to be the thing that threw me for a loop. I am able to get them to go as low as what is required at signing, so I might do that and then put the cash into a savings account where I apply it to the payment every month (if I can find a deal I feel comfortable with before the happy holiday adder expires!)

It's possible that inventory is starting to shrink, which puts the advantage back onto the dealers.

Have you considered traveling to where these great deals are? You can fly/drive quite a ways for the $2K you'd save.

ng_bimmer

I am seeing an online ad http://www.bmwusa.com/bmw/special-offers/lease/2015-BMW-i3 advertising a $219 / mo lease deal for i3 for 30 months , 10,000 miles and $3000 down. This includes the $7500 federal credit and an additional $2000 happier holiday promotion. The fine print says that this is based on MSRP assumption of $44,695 and end lease buy out price of $26,370 which I am guessing is the residual value.

I am trying to figure out what that means in terms of residual value % and money factor so I can talk to the dealers when I am negotiating an actual car. But plugging in the numbers in any reverse lease calculator is giving ridiculous numbers. The money factor comes out negative! The residual value % seems to be in excess of 60%. Something is not making sense! Please help explain the numbers. How do I translate this online promotion into something I can use to negotiate in real life?

davinci1

ng_bimmer said:

I am seeing an online ad http://www.bmwusa.com/bmw/special-offers/lease/2015-BMW-i3 advertising a $219 / mo lease deal for i3 for 30 months , 10,000 miles and $3000 down. This includes the $7500 federal credit and an additional $2000 happier holiday promotion. The fine print says that this is based on MSRP assumption of $44,695 and end lease buy out price of $26,370 which I am guessing is the residual value.

I am trying to figure out what that means in terms of residual value % and money factor so I can talk to the dealers when I am negotiating an actual car. But plugging in the numbers in any reverse lease calculator is giving ridiculous numbers. The money factor comes out negative! The residual value % seems to be in excess of 60%. Something is not making sense! Please help explain the numbers. How do I translate this online promotion into something I can use to negotiate in real life?

It is taking in to account following:

I think it is really $269/month. i am seeing $269/- in mid-Atlantic area

Residual = 59%
Money Factor = 0.00131 (3.14% apr, Top tier credit, 800 FICO needed)
Dealer sale price = $44,695 (Your lease price goes down if you pay less than MSRP, generally people are paying 11-15% less than the MSRP, This is where you need to negotiate.)

hope this helps.

kyfdx

davinci1 said:

ng_bimmer said:

I am seeing an online ad http://www.bmwusa.com/bmw/special-offers/lease/2015-BMW-i3 advertising a $219 / mo lease deal for i3 for 30 months , 10,000 miles and $3000 down. This includes the $7500 federal credit and an additional $2000 happier holiday promotion. The fine print says that this is based on MSRP assumption of $44,695 and end lease buy out price of $26,370 which I am guessing is the residual value.

I am trying to figure out what that means in terms of residual value % and money factor so I can talk to the dealers when I am negotiating an actual car. But plugging in the numbers in any reverse lease calculator is giving ridiculous numbers. The money factor comes out negative! The residual value % seems to be in excess of 60%. Something is not making sense! Please help explain the numbers. How do I translate this online promotion into something I can use to negotiate in real life?

It is taking in to account following:

I think it is really $269/month. i am seeing $269/- in mid-Atlantic area

Residual = 59%
Money Factor = 0.00131 (3.14% apr, Top tier credit, 800 FICO needed)
Dealer sale price = $44,695 (Your lease price goes down if you pay less than MSRP, generally people are paying 11-15% less than the MSRP, This is where you need to negotiate.)

hope this helps.

Good synopsis..

In this case, residuals are 2% higher in the Western Region, which is causing the different ad prices.

ercanf

I have received the following quote from my local dealer in NC:

2015 BMW i3 w/Range Extender
MSRP: 50,095
Discount: 9,545
Sale price: 40,550

Due on Delivery: 1,000

36 months lease, 10k miles/yr
$514.28 per month incl tax

I was expecting around $400/mo and thought this is too high. Even if I double the down payment, the monthly payment only gets to $468.69. I don't have any other details such as residual and money factor.

Can someone please weigh in on this? What should I expect with this deal?

Thanks!

Michaell

ercanf said:

I have received the following quote from my local dealer in NC:

2015 BMW i3 w/Range Extender
MSRP: 50,095
Discount: 9,545
Sale price: 40,550

Due on Delivery: 1,000

36 months lease, 10k miles/yr
$514.28 per month incl tax

I was expecting around $400/mo and thought this is too high. Even if I double the down payment, the monthly payment only gets to $468.69. I don't have any other details such as residual and money factor.

Can someone please weigh in on this? What should I expect with this deal?

Thanks!

36/10 numbers on the i3 REX are .00132 and 53%. $7500 lease credit.

Confirm that the lease credit is deducted from the selling price. If so, then the net cap cost drops to $33,050 and the pre-tax payment becomes $259/mo + tax. As is, I get $477/mo + tax.

Find out what the $1000 at delivery covers - I don't see the bank fee mentioned anywhere.