Need help with 2014 i3 Rex lease in Maryland

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epirali

Well-known member
Joined
May 24, 2015
Messages
420
Location
Maryland
Hello everyone:

This is my first attempt to lease a car ever (buy many, never lease). I have read through various posts here and I need help. I see people are getting good lease deals for 2014 i3s with Rex, and I can find very good deals on buying them ($11K under MSRP). But I am having no luck with lease. I am looking for 2 years, 12K/year and the best I have gotten so far has been $610/mo. And this is for cars in the $51K MSRP range. This seems higher by a bit from what others are getting.

I understand the various terms, etc, all I care about is the total cost to own for 2 years. So at these lease rates I am almost just as well off to buy the car. The payments per month isn't the issue, its the totals.

Help?
 
I'm in the same situation.

Just started attempting to gather some quotes yesterday. So far I have one. It's only 8% off MSRP and they are claiming 2014s currently have a $4,875 lease credit instead of the $5,500 credit with $2,000 build out cash I keep reading about. Has anyone else heard this or are they pulling my leg? My understanding is that $7,500 total credit from BMW is nationwide in the US.
 
spinball said:
I'm in the same situation.

Just started attempting to gather some quotes yesterday. So far I have one. It's only 8% off MSRP and they are claiming 2014s currently have a $4,875 lease credit instead of the $5,500 credit with $2,000 build out cash I keep reading about. Has anyone else heard this or are they pulling my leg? My understanding is that $7,500 total credit from BMW is nationwide in the US.
Click to expand...


Supply and demand still rule. Look for a dealer with a relative glut of 2014s sitting on the lot. You may need to travel. It is nearly summer and these cars are traditionally dead weight. The longer they sit the less likely somebody will buy. If they wait too long, lease incentives on 2014 may even expire. The BMW website still lists $5500 + 2000 off as the incentives from BMW on 2014s. It is very reasonable to ask for a discount off MSRP for a 2014 on top of this. When comparing lease deals focus on the negotiated sales price including incentives. Changing the down payment amount is another method to "confuse" you. Focus on the monthly payment with 0 down to keep all offers consistent.

Email their internet sales manager with your proposed purchase price, residual (0.63%), MF (.00125) or 3%APR , total down, and monthly payment for a 2 year lease. List the incentive, build out cash, and requested discount. I would ask for at least 10000 off total.

I believe sales tax is one area that hurts you in Maryland since you pay on the whole price of the car. In your state, this affects your lease vs buy decision. I am not sure if the incentives count before or after the lease price for calculation of the sales tax. Basically, if your state charges sales tax on the whole vehicle, you are paying an extra $100/month on this deal.

Here's how a "good" lease deal might look:

MSRP: $51000
Negotiated price after incentives: $39000
Price with tax: 41340
Acquisition Fee: 875
Tags/License: $200?
Total Price including fees: 42415
Residual: 32130
MF: .00125
Down payment: 0

Monthly payment: 521.72
 
Does the BMW incentive of 5500 dollars and $2000, get deducted from the best price you can negotiate, in addition to getting the $7,500 federal tax credit or is that just a way to make you think you're getting 7500 dollars off while they apply your tax credit? i.e., $50,000 MSRP negotiated to $40,000. less 5500 dollars, less 2000 dollars equals $32,500. then, assuming I have tax liabilities equal to or greater than 7500 dollars for the year I buy the car, I deduct that from my taxes owed and or get a check if already paid equal to $7,500. Making the net out of pocket cost for the car $25,000. Did I double dip on the $7,500.
 
PDXelectric said:
spinball said:
I'm in the same situation.

Just started attempting to gather some quotes yesterday. So far I have one. It's only 8% off MSRP and they are claiming 2014s currently have a $4,875 lease credit instead of the $5,500 credit with $2,000 build out cash I keep reading about. Has anyone else heard this or are they pulling my leg? My understanding is that $7,500 total credit from BMW is nationwide in the US.
Click to expand...


Supply and demand still rule. Look for a dealer with a relative glut of 2014s sitting on the lot. You may need to travel. It is nearly summer and these cars are traditionally dead weight. The longer they sit the less likely somebody will buy. If they wait too long, lease incentives on 2014 may even expire. The BMW website still lists $5500 + 2000 off as the incentives from BMW on 2014s. It is very reasonable to ask for a discount off MSRP for a 2014 on top of this. When comparing lease deals focus on the negotiated sales price including incentives. Changing the down payment amount is another method to "confuse" you. Focus on the monthly payment with 0 down to keep all offers consistent.

Email their internet sales manager with your proposed purchase price, residual (0.63%), MF (.00125) or 3%APR , total down, and monthly payment for a 2 year lease. List the incentive, build out cash, and requested discount. I would ask for at least 10000 off total.

I believe sales tax is one area that hurts you in Maryland since you pay on the whole price of the car. In your state, this affects your lease vs buy decision. I am not sure if the incentives count before or after the lease price for calculation of the sales tax. Basically, if your state charges sales tax on the whole vehicle, you are paying an extra $100/month on this deal.

Here's how a "good" lease deal might look:

MSRP: $51000
Negotiated price after incentives: $39000
Price with tax: 41340
Acquisition Fee: 875
Tags/License: $200?
Total Price including fees: 42415
Residual: 32130
MF: .00125
Down payment: 0

Monthly payment: 521.72
Click to expand...

Thanks I have contacted many dealers, even ones with 12 i3s 2014. Best I have gotten on a $53k car is $599 no money down 12k/2 years. This sounds barely ok, unless we assume an extra $100 in taxes as you said.

Only exception is one dealer who offered $400/mo 2 year/12k, but it's a bare bones i3 Rex. It's a good deal but can't decide whether I will miss the options.
 
PDXelectric said:
The BMW website still lists $5500 + 2000 off as the incentives from BMW on 2014s.
Click to expand...

Where do you see this? I just checked this hours ago and see $4875 for 2014 leases. Maybe this is based on location? I'm in WI...

I just figured out the BMW website has different lease credits based on location. That really blows!
 
spinball said:
PDXelectric said:
The BMW website still lists $5500 + 2000 off as the incentives from BMW on 2014s.
Click to expand...

Where do you see this? I just checked this hours ago and see $4875 for 2014 leases. Maybe this is based on location? I'm in WI...

I just figured out the BMW website has different lease credits based on location. That really blows!
Click to expand...


I think you are right. Here is the link I looked at.

http://www.bmwusa.com/standard/cont...x?NAModelCode=14IB&OfferType=2&regiontypeid=2
 
It's my understanding that you don't get the $7500 tax credit if you lease because the true owner of the car is the bank not you. But bmw should pass the discount along to you.
 
Birdofparadise said:
It's my understanding that you don't get the $7500 tax credit if you lease because the true owner of the car is the bank not you. But bmw should pass the discount along to you.
Click to expand...

In some areas, BMW is offering $5500 + $2000 off 2014 leases. This is essentially all of the tax credit.
 
For June 2015, they offer only 5500 for 2014 but 7500 for 2015. Ofcourse the sale price is more for 2015s. Best I got it 10% off for 2015 and 14% off for 2014.
 
rajetta said:
For June 2015, they offer only 5500 for 2014 but 7500 for 2015. Ofcourse the sale price is more for 2015s. Best I got it 10% off for 2015 and 14% off for 2014.
Click to expand...

Really? I only see lease specials for 2014 models on the BMW website.
 
There's a CA west coast dealer doing 16% off MSRP (27% including lease credit) on their remaining 2014s. PM me for contact info. In Maryland, try Joe Feng at BMW Cantonsville.
 
Just want to share my experience (spent lot of time last week, ) - I live in Northern VA
2014 :
Lot of choice if you are looking for BEV - 20% off MRP at least + 5500 off lease is quite easy. but they are going away very fast.
REX: Not many left, especially if you looking for loaded. One dealer in northern bethesda has lot of stock (all in 'silver' (gold) color, but didn't come down on price. Actually it's better to get 2015 (as lease credit is 7500 on 2015) with their pricing. Hopefully they'll come down

2015:
I am looking for loaded Rex, but was particular with color - Laurel Gray to reduce the two tone effect. Decent choice, best I got was 13% off + 7500 lease credit. You can get a little bit more next week (last week of quarter).
 

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