2016 BMW i3 Lease Questions

Michaell

Ask your 2016 i3 lease questions, here!

genka

Hello Michaell. 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:

Hello Michaell. 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.

The dealer worksheet is meant to be confusing to the consumer. :@

Upfront charges looks to include the sales tax.

The difference in the net or total cap cost is only $500. That is the difference in the payment - $15/mo.

genka

Michaell, thanks for incredibly fast answer. "Amount Applied Upfront" seems to consist of the "Upfront Charges"and "Advanced Payment", the latter is probably the first month payment. Maryland takes sales upfront for the full purchase price, it is $2870 and is not indicated anywhere on the worksheet. I included the acquisition and docs fees in the cap costs, but as you say it is still $500 higher. From this worksheet I can't even figure out the drive off cost.

Michaell

genka said:

Michaell, thanks for incredibly fast answer. "Amount Applied Upfront" seems to consist of the "Upfront Charges"and "Advanced Payment", the latter is probably the first month payment. Maryland takes sales upfront for the full purchase price, it is $2870 and is not indicated anywhere on the worksheet. I included the acquisition and docs fees in the cap costs, but as you say it is still $500 higher. From this worksheet I can't even figure out the drive off cost.

It's the net cap cost of $42,125.61

kyfdx

genka said:

Michaell, thanks for incredibly fast answer. "Amount Applied Upfront" seems to consist of the "Upfront Charges"and "Advanced Payment", the latter is probably the first month payment. Maryland takes sales upfront for the full purchase price, it is $2870 and is not indicated anywhere on the worksheet. I included the acquisition and docs fees in the cap costs, but as you say it is still $500 higher. From this worksheet I can't even figure out the drive off cost.

You have $10,500 upfront working cash. ($7500 rebate + $3000 from you).

You are correct, in that the missing number from your screenshot is the tax.
Tax is applied to the full selling price, acquisition fee and probably the doc fee.
The amounts with check marks next to them are collected upfront, as well.

Upfront = $479 + $1300 fees + tax = $4800.61 . The rest of the $10,500 goes to CAP reduction.

To be clear, they are asking for $3000 from you at inception. (unless there is something else missing, as well)

genka

Thanks a lot, now I'm closer to connecting the dots. The way BMW lays out the worksheet is impossible to understand.

brian62

Hello. I am interested in leasing an i3 and drive about 20,000 miles a year. The dealer was trying to talk me into doing a 15,000 mile lease and buying the extra miles before turn in (he quoted $0.22 per mile over).
I would like to do the math for myself, do you know the cost for additional miles as well as the residual value on a 30 month lease with 15k/17.5k/20k miles (if those even exist).

Michaell

brian62 said:

Hello. I am interested in leasing an i3 and drive about 20,000 miles a year. The dealer was trying to talk me into doing a 15,000 mile lease and buying the extra miles before turn in (he quoted $0.22 per mile over).
I would like to do the math for myself, do you know the cost for additional miles as well as the residual value on a 30 month lease with 15k/17.5k/20k miles (if those even exist).

2016 i3 30/15 - .00135 and 53%

$7500 lease credit and $1000 option allowance.

Extra miles are somewhere between .15-.25 per when purchased up front. Don't know the exact amount, so .22 is in the ballpark.

If you want 20,000 miles per year, that would be 12,500 extra miles, or $2750 deducted from the 53% residual amount.

i3madking

Michaell, where can i find the "lease calculator" you use? Pictured below.

Also, could you share the "numbers" for a 2016 i3, 36mo, 10K? And do the numbers vary based on model (i.e. Mega, Giga, Tera)?

Michaell

i3madking said:

Michaell, where can i find the "lease calculator" you use? Pictured below.

Also, could you share the "numbers" for a 2016 i3, 36mo, 10K? And do the numbers vary based on model (i.e. Mega, Giga, Tera)?

2016 i3 for 36/10 is .00138 and 58%

$1000 option allowance and $7500 lease credit available in May.

No difference based on trim level.

i3madking

Thanks for the quick response.

Any chance of a link to the calculator?

thanks buddy!

Michaell

i3madking said:

Thanks for the quick response.

Any chance of a link to the calculator?

thanks buddy!

I built my own .. use the steps from this article ...

http://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html

i3madking

thanks for the tip!

i3madking

Mike,
BMW of Spokane shows a $2000 Buildout Allowance. Where on your worksheet would this go? Untaxed Incentives? And therefore deducted from the Dealer's Price Offer?
thanks,
randall

Michaell

i3madking said:

Mike,
BMW of Spokane shows a $2000 Buildout Allowance. Where on your worksheet would this go? Untaxed Incentives? And therefore deducted from the Dealer's Price Offer?
thanks,
randall

I think the $2000 is subject to sales tax.

kyfdx

i3madking said:

Mike,
BMW of Spokane shows a $2000 Buildout Allowance. Where on your worksheet would this go? Untaxed Incentives? And therefore deducted from the Dealer's Price Offer?
thanks,
randall

Probably listed as a CAP cost reduction (and, therefore taxed).

harigin

Michael,
I am looking at a 2016 i3 REX with Virginia Tag & Title , with zero down and everything rolled into the lease amount.

MSRP: 52,164
Residual = 58%
MF = .00180
Net Cap Cost = 41014.75
$428.20 for a 3 yr 30k miles lease

Please let me know, if the Net Cap Cost is OK. I know that the MF is high, I will negotiate that down, but I wanted to check on the Cap cost, before I go forward.
Cheers,
Hari

Michaell

harigin said:

Michael,
I am looking at a 2016 i3 REX with Virginia Tag & Title , with zero down and everything rolled into the lease amount.

MSRP: 52,164
Residual = 58%
MF = .00180
Net Cap Cost = 41014.75
$428.20 for a 3 yr 30k miles lease

Please let me know, if the Net Cap Cost is OK. I know that the MF is high, I will negotiate that down, but I wanted to check on the Cap cost, before I go forward.
Cheers,
Hari

We don't track selling prices, so can't help you there. Read back through the last page or two of this thread to see what others have been able to negotiate.

There is $7500 lease credit and $1000 option allowance available with the 2016 i3, so take that into consideration.

[Deleted User]

Hello,

May I please get the residual for 30 and 36 months, at 15k miles, for the state of California (CA). Thank you in advance

kyfdx

saee_jr said:

Hello,

May I please get the residual for 30 and 36 months, at 15k miles, for the state of California (CA). Thank you in advance

.00138 MF and 58%/55% residual. $7500 lease credit + $1000 option allowance

amesh01

Hello - I am looking for the residual and MF for the seattle area on a 24/30/36 for 10k miles. Appreciate the help.

Michaell

amesh01 said:

Hello - I am looking for the residual and MF for the seattle area on a 24/30/36 for 10k miles. Appreciate the help.

.00138 and 64% / 61% / 58%.

$1000 option allowance and $7500 lease credit.

[Deleted User]

Can someone review this and make some sense of it to me in regards to the additional fees and taxes that are being charged? Thank you in advance (MSRP: $55,895; in the state of CA)

Michaell

saee_jr said:

Can someone review this and make some sense of it to me in regards to the additional fees and taxes that are being charged? Thank you in advance (MSRP: $55,895; in the state of CA)

Fees are all in line for CA.

hongbx8

I am about to lease i3 REX 2016
I got the following offer. 
MSRP: $52,245 including destination charge. 
cash due: $6,000
monthly: $285
30 month / 10k miles 
This include all taxes(CA), fees, registrations, etc. 

I plan to counter offer $6000 / $275 for 36/12k. 
Is it reasonable to get?

Michaell

hongjik said:

I am about to lease i3 REX 2016
I got the following offer. 
MSRP: $52,245 including destination charge. 
cash due: $6,000
monthly: $285
30 month / 10k miles 
This include all taxes(CA), fees, registrations, etc. 

I plan to counter offer $6000 / $275 for 36/12k. 
Is it reasonable to get?

Answered in the other thread you posted in.

This is for a 2016 i3? The other threads were specific to the 2015 model year.

hongbx8

Yes this is 2016. Thanks Michaell. 
I saw the answer and here is my further question. 

This is based on $5,454 discount from MSRP and $7,500 Federal tax cut as an incentive. 
Then should I negotiate the discount value and also money factor?

What is the possible max discount and MF?

Michaell

hongjik said:

Yes this is 2016. Thanks Michaell. 
I saw the answer and here is my further question. 

This is based on $5,454 discount from MSRP and $7,500 Federal tax cut as an incentive. 
Then should I negotiate the discount value and also money factor?

What is the possible max discount and MF?

The MF is set by the bank, but the dealer can mark it up for extra profit. The base MF is .00138; with maximum MSD brings the MF down to .00089.

You cannot change the residual value; that is fixed by the bank.

hongbx8

I heard the following.
MSRP: $51595.00
Price after dealer discount: $5,614
Incentive: $7500 tax credit
--> total cost: $38,481

36 mon / 12k
residual 57%
mf .00178

He confirmed that dealer mark up mf from 0.00138 to 0.00178.

Is it possible to fight for 0.00138?

kyfdx

hongjik said:

I heard the following.
MSRP: $51595.00
Price after dealer discount: $5,614
Incentive: $7500 tax credit
--> total cost: $38,481

36 mon / 12k
residual 57%
mf .00178

He confirmed that dealer mark up mf from 0.00138 to 0.00178.

Is it possible to fight for 0.00138?

Sure it is... might need to introduce some competition, though. Most dealers won't compete against themselves.

microstructure

Hi,

Can I get the June residual and mf for 2016 and 2015 i3, 30 months, 12k mi/yr? Are the incentives still 2k buildout for the 15s and 1k for the 16s?

Thanks!

kyfdx

microstructure said:

Hi,

Can I get the June residual and mf for 2016 and 2015 i3, 30 months, 12k mi/yr? Are the incentives still 2k buildout for the 15s and 1k for the 16s?

Thanks!

2016: .00138 MF and 60% residual. $7500 lease credit + $1000 option allowance
2015: .00138 MF and 63% residual. $7500 lease credit + $2000 buildout cash

flandref

A local bmw dealer is offering $98/month for 30 months with $4000 down payment,

this is the link,
http://www.herbchambersbmwofboston.com/new-car-specials.htm

how is that possible? is that a good deal?

kyfdx

flandref said:

A local bmw dealer is offering $98/month for 30 months with $4000 down payment,

this is the link,
http://www.herbchambersbmwofboston.com/new-car-specials.htm

how is that possible? is that a good deal?

The example shown is with an MSRP of $43,945.
If you check their inventory, they are all $48K and up.

The ad doesn't give a lot of detail, other than the $4000 doesn't include taxes or fees
It also requires 7 multiple security deposits.

It's for 24 months, 10K/yr., not 30 months. (according to the fine print at the bottom).

So, in real terms, we are already at $270/mo., when you amortize the $4000 over 24 months. Add in another 1300 in fees? Now we are at $320/mo.+tax.

Not a bad deal, but it isn't $98/mo.

amesh01

Hi, can I get the MF for 24/10 and 30/10. Thank you

Michaell

amesh01 said:

Hi, can I get the MF for 24/10 and 30/10. Thank you

.00138 and 64% / 61%.

$1000 option allowance and $7500 lease credit.

genka

i3madking said:

Michaell, where can i find the "lease calculator" you use? Pictured below.

Sorry I haven't visited this forum in a while. This is the link for the calculator
https://docs.google.com/spreadsheets/d/1Hp1j_uklSJBe3sa36SNS2jOv3tGqt9o76xNIz3U44sI/edit?usp=sharing
It was created by user bleuiko on the i3 forum.
I made some simple changes for the states like MD taxing the purchase price.
https://docs.google.com/spreadsheets/d/1LbHUhY5wPznthpk0W-r9GvDkgrZna4c1Z5KSjt-50iw/edit?usp=sharing

triplelake

Hi, can I get the July MF for 2016 REX i3 12k miles 30 months ? Thanks.

Michaell

triplelake said:

Hi, can I get the July MF for 2016 REX i3 12k miles 30 months ? Thanks.

.00137 and 62%.

$7500 lease credit.

triplelake

Sorry, can you double check on the residue? Looks like a 2% jump from last month?

kyfdx

triplelake said:

Sorry, can you double check on the residue? Looks like a 2% jump from last month?

That's correct. i3 residuals went up 2% for 24, 30 or 36 month terms.

triplelake

Thanks for confirming.  Is 10k miles 30 months 63%? Do you know how much does mileage adjustment cost per mile if I do it before end of lease?

kyfdx

triplelake said:

Thanks for confirming.  Is 10k miles 30 months 63%? Do you know how much does mileage adjustment cost per mile if I do it before end of lease?

Yes. 63% for 30/10.

BMWFS recently increased their excess mileage charges. It can vary by model, but I think it is now $0.23/mi., if paid during the lease.

goucla

Hi there - can I get MF/residual for July (SF Bay Area)? 2016 i3 with range extender. 3years/36k. How much can MF be bought down, and with how much in security deposits? Also, did they drop the $1000 option allowance for July? In addition to Federal $7500 rebate, does CA still offer $2500 rebate?

I've read on leasehackr about some guys in CA who got insane lease deals on 2015s last month, $168/ month (incl taxes) with zero down for 3yr/36k. Guess BMW was aggressive about clearing 2015 inventory. If 2017s start delivering in Sept, is it reasonable to assume aggressive incentives for 2016s in Sept?

kyfdx

goucla said:

Hi there - can I get MF/residual for July (SF Bay Area)? 2016 i3 with range extender. 3years/36k. How much can MF be bought down, and with how much in security deposits? Also, did they drop the $1000 option allowance for July? In addition to Federal $7500 rebate, does CA still offer $2500 rebate?

I've read on leasehackr about some guys in CA who got insane lease deals on 2015s last month, $168/ month (incl taxes) with zero down for 3yr/36k. Guess BMW was aggressive about clearing 2015 inventory. If 2017s start delivering in Sept, is it reasonable to assume aggressive incentives for 2016s in Sept?

.00137 MF and 59% residual. $7500 lease credit.
No option allowance. No info on CA rebate.

7 MSDs would drop the rate to .00088

I wouldn't make any assumptions about the future. (even reasonable ones)

tufts0207

Hello,

Could I get the MF and Residual for a 2016 i3 REX for 15k miles and 24/30/36 month term?
The only offer at this time is the $7500 credit right? Does that get applied to the lease or is that a tax credit when I file federal taxes?

It seems that the 2017 i3 details regarding the $7500 credit won't be made available any time soon is that correct?

Thanks in advance

Michaell

tufts0207 said:

Hello,

Could I get the MF and Residual for a 2016 i3 REX for 15k miles and 24/30/36 month term?
The only offer at this time is the $7500 credit right? Does that get applied to the lease or is that a tax credit when I file federal taxes?

It seems that the 2017 i3 details regarding the $7500 credit won't be made available any time soon is that correct?

Thanks in advance

.00137 and 63% 60% 57% residual. You don't get the tax credit, the leasing company does as they are the owners.

No lease incentives on the 2017 i3 this month.

wolfpacker3

Great forum!
A dealer here in the Puget Sound region told me today that residuals in the western region increased 5% today. Can you confirm? What would would that make the MF and residual for a 2016 Rex for 12k miles at 30 or 36 months in this region?
Thanks.

Michaell

wolfpacker3 said:

Great forum!
A dealer here in the Puget Sound region told me today that residuals in the western region increased 5% today. Can you confirm? What would would that make the MF and residual for a 2016 Rex for 12k miles at 30 or 36 months in this region?
Thanks.

We don't get any mid-month updates to the numbers we have, sorry.

The dealer can't modify the residual value, so if it went up, that's good news for you if you're in the market.

wolfpacker3

Michaell said:

wolfpacker3 said:

Great forum!
A dealer here in the Puget Sound region told me today that residuals in the western region increased 5% today. Can you confirm? What would would that make the MF and residual for a 2016 Rex for 12k miles at 30 or 36 months in this region?
Thanks.

We don't get any mid-month updates to the numbers we have, sorry.

The dealer can't modify the residual value, so if it went up, that's good news for you if you're in the market.

Thanks Michael. For your West Coast readers, I confirmed the following with a second Seattle-area dealer today:

"Yes, the residuals went up 5% more than the July 1 percentages across the board. For a 12k lease, the residual is 67% for 30 months; 65% for 36 months. 70% for 24!"

These appear to be in effect in WA, OR and CA through the end of July. Pretty cool!